News

South Korean customs authorities have discovered that illegal foreign exchange transactions involving cryptocurrencies have surpassed 10 trillion won over the past five years. According to NS3.AI, Tether has been widely used in these activities. The value of these uncovered transactions increased significantly from 823.8 billion won in 2021 to 4.7566 trillion won in 2022. Additionally, the number of cases rose from 10 in 2021 to 16 in 2025.

Lawmakers have publicly released the text of the crypto market structure bill ahead of their vote, according to CoinDesk. The bill, which had been circulating within the industry behind closed doors, aims to address regulatory frameworks for the cryptocurrency sector. This move is seen as a significant step towards formalizing the legal landscape for digital assets, potentially impacting market participants and regulatory compliance.

A Bitwise executive has suggested that South Korean retail investors might redirect substantial capital into Bitcoin. According to NS3.AI, Jeffrey Park indicated that funds currently invested in large-cap semiconductor and pharmaceutical stocks could move into Bitcoin if investors believe that tech stocks have reached their peak.

Microsoft set a target to achieve a $92 billion return from its early significant investment in OpenAI, according to Bloomberg. This information was revealed during a court hearing on May 11 in Oakland, California, involving a lawsuit filed by Elon Musk against OpenAI and Microsoft. Microsoft CEO Satya Nadella stated in court that the investment was successful because the company took on the associated risks.

Marathon Digital Holdings (MARA) has announced its financial results for the first quarter, revealing a revenue of $174.6 million, which marks an 18% decrease compared to the same period last year. According to NS3.AI, the company emphasized that bitcoin mining continues to be its core operational focus. The net loss for the quarter expanded to $1.3 billion, largely attributed to unrealized losses on the 38,689 BTC held on its balance sheet. In an effort to manage debt and improve financial flexibility, MARA sold approximately $1.1 billion worth of bitcoin towards the end of the quarter.

Stablecoin monthly volume reached $7.2 trillion in February, surpassing ACH's $6.8 trillion for the first time, according to Artemis data. March maintained stablecoin volume near or above ACH levels. Raj Kamal noted that much of this activity is attributed to on-chain transfers rather than last-mile consumer or supplier payments. In March, TransFi raised $19.2 million to enhance fiat-to-stablecoin corridors in emerging markets.

OpenAI has announced plans to acquire the consulting firm TOMORO to establish a private equity joint venture. According to Jin10, this strategic move aims to expand OpenAI's influence in the financial sector by leveraging TOMORO's expertise. The acquisition is expected to enhance OpenAI's capabilities in providing AI-driven solutions to private equity firms, marking a significant step in its business diversification efforts.

Bitcoin Ordinals browser Ord.io announced on the X platform that it will cease operations on June 1. According to PANews, the platform, launched three years ago, has served over one million users. The team plans to upload the complete history of likes, replies, and public address data to GitHub, allowing future developers to build related Ordinals browsing tools based on this data.

Circle has shifted market focus from current performance to growth expectations through its AI agent economy and ARC stablecoin blockchain initiatives. According to PANews, this strategic move has successfully ignited market sentiment, leading to a significant rise in the company's stock price.

According to the announcement from Binance, the platform is set to launch a Spark (SPK) Trading Tournament, offering eligible users a chance to share a total prize pool of 8,000,000 SPK in token vouchers. The tournament will run from 2026-05-12 10:00 (UTC) to 2026-05-26 10:00 (UTC). An 'Early Bird Boost' multiplier will be introduced to reward users who trade earlier in the promotion period. The eligible trading pairs for this tournament are SPK/USDT and SPK/USDC. Participants must be verified new, regular, or VIP users, while liquidity providers in the Binance Spot Liquidity Provider Program and Binance Brokers are excluded.

The Early Bird Boost Multiplier is designed to enhance trading volume based on the timing of trades. The multiplier starts at 2x from 2026-05-12 to 2026-05-14 and gradually decreases to 1x by the end of the promotion period. The total trading volume for the competition is calculated as the sum of the Daily Effective Trading Volume, which is the actual daily trading volume multiplied by the Early Bird Boost Multiplier. To qualify for rewards, participants must achieve a total effective trading volume of at least 500 USD equivalent in the eligible pairs during the promotion period.

The reward structure is based on cumulative trading volume rankings. The top participant will receive 400,000 SPK, while the second and third places will receive 320,000 SPK and 240,000 SPK, respectively. Participants ranked from 6th to 20th will share 720,000 SPK equally, and those from 21st to 50th will share 640,000 SPK. The remaining eligible participants will share 3,200,000 SPK, capped at 200 SPK per user. Token vouchers will be distributed by 2026-06-09 and must be redeemed within 21 days. Binance reserves the right to disqualify users involved in dishonest behavior or who tamper with the program code.

Anthropic has issued a warning regarding tokenized products that claim to offer access to its private shares, stating that such offerings may be invalid. According to NS3.AI, the company emphasized that any unapproved sale or transfer of its stock, or any interest in it, will be considered void and not recognized in its records. Meanwhile, PreStocks, a platform involved in these transactions, clarified that buyers of Anthropic-linked tokens receive economic exposure rather than equity rights. The underlying structure of these tokens remains unclear, and the market has implied a valuation exceeding $1.5 trillion.

Stream Finance announced on Platform X that it is seeking ways to maximize the value of assets for customers and creditors. According to Odaily, the goal is to integrate, liquidate, and distribute assets prudently and swiftly. The team is considering several strategic alternatives that require the involvement of customers and creditors, with more details expected in the coming weeks. Inquiries can be directed to Jeremiah Ledgwidge at Cooley LLP.

In November last year, Stream Finance reported a loss of $93 million in assets and subsequently suspended withdrawals, leading to a significant de-pegging of XUSD.

Iagon has introduced the Cardano Vault in collaboration with Fireblocks, aiming to establish an enterprise control layer for Cardano. According to NS3.AI, this move comes as capital flowing into vault structures exceeded $6 billion last year. The launch is seen as Cardano's effort to compete with Ethereum and Solana in the realm of curator-led vault deployments. Fireblocks' research indicates that 88% of financial institutions have either allocated or plan to allocate budgets for digital-asset infrastructure this year. Data from DefiLlama reveals that Cardano currently holds approximately $141.2 million in total value locked (TVL), with nearly $47 million in stablecoins and $33.8 million in lending TVL.

Kyobo Life Insurance has recently established a digital asset unit, aiming to develop new blockchain business strategies. According to NS3.AI, this unit is tasked with creating a mid-to-long-term digital asset roadmap for the entire Kyobo Group. The plans being considered involve the introduction of stablecoins, security token offerings, Web3 initiatives, cross-border payment solutions, and the formation of a specialized overseas subsidiary.

On May 12, a significant transfer of ONDO tokens was observed. According to BlockBeats On-chain Detection, the Ondo project's multi-signature address transferred 150 million ONDO tokens seven hours ago. Subsequently, 21.338 million ONDO tokens were moved to centralized exchanges (CEX) one hour ago.

CoinGlass data indicates that Bitcoin's price movements could result in substantial liquidations. According to NS3.AI, if Bitcoin rises above $82,766, it could trigger approximately $858.8 million in short liquidations. Conversely, if Bitcoin falls below $80,300, it could lead to around $402 million in long liquidations.

The U.S. Senate Banking Committee has unveiled a 309-page draft of the CLARITY Act, which maintains restrictions on rewards for holding stablecoins. According to NS3.AI, Section 404 of the draft specifies that regulated entities are prohibited from offering interest or yield on stablecoin balances simply because a restricted recipient possesses the token. However, the draft permits rewards linked to genuine transactions, payments, platform activity, or liquidity provision.

Morgan Stanley's Global Macro Strategist, Matt Hornbach, anticipates that the U.S. inflation data for April will be notably 'hot.' According to Jin10, this data is the first in a series of reports that will ultimately contribute to the Federal Reserve's key inflation measure, the core PCE price index. Hornbach noted that historically, companies have not always passed inflationary pressures onto consumers. This situation is similar to when the U.S. government imposed tariffs, and consumer prices did not rise as sharply as expected. Currently, companies are facing significant pressures from rising energy costs and AI infrastructure development expenses. However, it remains uncertain whether businesses can fully transfer these costs to consumers. As a result, Morgan Stanley still forecasts that the Federal Reserve will maintain interest rates unchanged this year.

Ethereum (ETH) whales have capitalized on a recent price dip, purchasing $832 million worth of ETH as the cryptocurrency's price fell 3.6% since May 10, according to BeInCrypto. This accumulation occurred as ETH traded within a descending channel since April 17. Despite the price decline, whale wallets increased their holdings by 360,000 ETH, signaling confidence in the market's resilience. Meanwhile, Ethereum's derivatives market shows a decrease in open interest, suggesting that the recent rally was driven by short-covering rather than new long positions. Long-term holders, however, have reduced their accumulation by nearly 80% since late April, indicating caution amid elevated funding rates. Ethereum currently trades at $2,311, with key support levels at $2,298 and $2,269.

According to the announcement from Binance, the platform is set to introduce the next phase of its "Binance Learn & Earn" initiative. This program allows users to enhance their understanding of blockchain technology while earning cryptocurrency rewards by completing a designated quiz. The activity is scheduled to run from 2026-05-12 09:00 (UTC) to 2026-05-26 09:00 (UTC).

Participation in this round is exclusive to verified new users who have not previously subscribed to Simple Earn Locked Products before the specified start date. Eligible participants will receive a predetermined amount of ESP tokens, distributed on a first-come, first-served basis. Users can begin engaging with educational materials, including articles and videos, and complete quizzes as long as token supplies last. Each Learn & Earn session can only be completed once, and users are limited to one reward per session.

The ESP rewards will be automatically locked in Simple Earn Locked Products for a duration of 150 days, offering an annual percentage rate (APR) of 10%. Users will not be able to participate once all rewards have been distributed. Binance emphasizes that the actual value of the rewards may fluctuate due to market conditions. At the end of the subscription period, Binance Simple Earn will transition the locked assets to Simple Earn Flexible Products.

Binance reserves the right to terminate the activity without prior notice and disqualify participants who violate the program's terms. The platform also retains the right to modify the terms and conditions at its discretion. Users are encouraged to stay informed about new projects and opportunities to earn additional crypto rewards through the Learn & Earn program.

Fluid announced on Platform X that damage to Resolv infrastructure has resulted in approximately $21 million in bad debt. According to Odaily, a solution has been devised to address the remaining $19.3 million in debt: Resolv will cover about $9.7 million, Fluid's governance treasury will handle $8.2 million, and the Fluid team will take on $1.5 million. Fluid has destroyed all remaining USR tokens within the protocol at the contract level, allowing users to exchange them directly through Resolv.

To ensure long-term sustainability, Fluid will pause token buybacks, significantly reduce or eliminate FLUID token incentives, and the foundation will halt its monthly $250,000 grant from March to June. Additionally, its Solana DEX is expected to launch within six weeks.

According to Odaily, monitoring by Arkham reveals that Bhutan has transferred 100 BTC from its holdings, valued at approximately $8.1 million. Since early 2026, Bhutan has sold Bitcoin worth about $230.39 million, with remaining holdings valued at approximately $252 million. The average monthly sale amounts to around $50 million. Arkham notes that if sales continue at this pace, Bhutan's Bitcoin holdings could be depleted by the end of September. Additionally, if all sales are completed at the current Bitcoin price, Bhutan's cumulative on-chain profit from these holdings would reach approximately $767 million.

A sophisticated npm worm named 'Mini Shai-Hulud' is spreading through well-known developer projects such as TanStack, UiPath, and DraftLab, according to ChainCatcher. The threat monitoring system MistEye, operated by blockchain security firm SlowMist, detected the worm. Attackers are hijacking GitHub credentials to release malicious software packages disguised as legitimate updates. These packages contain a hidden script, router_init.js, which runs silently in CI/CD environments like GitHub Actions. The worm is designed to steal CI/CD keys, cloud infrastructure keys, and cryptocurrency wallet information, using GitHub's infrastructure for data exfiltration.

SlowMist has shared the threat intelligence with its clients, advising projects using the affected packages to check their CI/CD pipelines for the presence of the router_init.js file. They recommend rotating all exposed GitHub, cloud service, and cryptocurrency credentials and continuously monitoring for unusual background activities in the development environment.

Ukraine's President Volodymyr Zelensky announced a successful meeting with Palantir CEO Alex Karp. According to Jin10, Zelensky stated that Ukraine is gradually advancing its cooperation with the U.S. defense sector.

Binance announced on X a significant update to its desktop application, focusing on performance optimization and feature enhancements. The update aims to address issues such as lag, latency, and unexpected crashes, providing users with a smoother and more reliable experience. This improvement is expected to enhance the overall functionality of the platform, ensuring that users can navigate and execute transactions with greater efficiency.

In addition to performance upgrades, the update also sees the restoration of the sub-account feature. This allows users to manage accounts, allocate assets, and set API configurations seamlessly from a single interface. The restoration of this feature is anticipated to streamline account management processes, offering users more control over their digital assets and trading activities.

Furthermore, Binance has improved its Pay service by adding a quick access entry in the navigation bar, making payments faster and more convenient. This enhancement is designed to simplify the payment process, enabling users to conduct transactions with ease. Binance continues to collect user feedback under the #ProductFeedback initiative, aiming to refine and optimize its products continuously. Users are encouraged to download the latest version of the Binance desktop application to experience these updates firsthand.

Bitcoin's bull-bear cycle indicator has signaled an 'early bull market' for the first time since March 2023, according to ChainCatcher. Historically, this signal has indicated the end of the worst adjustment phases and the beginning of market recovery, as seen in 2019 and early 2023. However, an exception occurred in March 2022 when the indicator entered the early bull market zone but was followed by a price rejection, marking a local top rather than a new bull market.

As of May 2026, analysts suggest that Bitcoin no longer behaves as a deep bear market asset, with the recovery of the 30-day moving average indicating improving market momentum. Despite this, several other market indicators show signs of weakness, making the current signal less definitive than classic early cycle confirmations. Analysts lean towards the possibility of a local top rather than the start of a new bull market, unless subsequent price movements strongly confirm this trend.

Bitcoin's retail demand has shown signs of recovery, according to Axel Adler Jr. On May 12, the 30-day retail demand change for Bitcoin increased to +4.38%, up from -8.2% on April 5. This shift indicates an early recovery following the early April downturn. According to NS3.AI, Adler noted that transaction volumes for amounts under $10,000 increased slightly from $336 million to $351 million. However, these figures remain below the $365 million to $375 million range observed in February and March.

AI-driven financial operating system Infini has joined the Circle Alliance Program. According to Foresight News, the initiative aims to bring together companies, institutions, and protocols from fintech, traditional finance, consumer applications, payments, banking, and Web3 sectors that are utilizing Circle's stablecoin and Web3 services. The collective goal is to advance the development and growth of the internet financial system, expand the use of USDC, enhance cross-border payments, and provide digital financial services.

Aave, along with other stakeholders, has initiated a binding governance vote on the Arbitrum platform to transfer $71 million, equivalent to 30,765 ETH, into an address controlled by Aave LLC. According to NS3.AI, this proposal comes in response to a court order issued by Judge Margaret Garnett, which mandates that the frozen assets remain under legal restrictions even if the transfer is approved. The voting process is set to commence on May 15.

Arbitrum delegates have commenced a binding governance process to transfer disputed exploit funds to Aave, according to CoinDesk. This move comes amid ongoing legal battles in a Manhattan court, where North Korean terrorism creditors are contesting ownership of the funds. The governance process aims to resolve the dispute over the funds, which have been a point of contention following an exploit. The outcome of this process could have significant implications for both Aave and the parties involved in the court case.

Binance Wallet announced on X that the rewards for the Phase 2 Bitway Booster Campaign are now available for participants to claim. Users can access their rewards by navigating to the 'Discover' section, selecting 'Booster,' and then proceeding to 'My Total Rewards.' From there, participants can utilize the 'Batch Claim' option located at the top right to claim all their rewards in a single action.

This announcement marks the next step in the Bitway Booster Campaign, allowing users to efficiently collect their accumulated rewards. The process is designed to streamline the claiming experience, ensuring that participants can easily access their benefits without hassle. The availability of these rewards follows the completion of the campaign's second phase, providing users with the opportunity to consolidate their earnings promptly.

Sui (SUI) has experienced a nearly 10% decline from its high on Sunday, raising concerns about the sustainability of its recent rally. According to BeInCrypto, the altcoin had surged almost 40% over the past week, driven by SUI Group Holdings expanding its treasury holdings to 108,728,129 SUI, with most staked at a 1.8% yield. The pullback occurred as SUI's Relative Strength Index (RSI) hit overbought levels, suggesting a market reset. Broader crypto market weakness also contributed, with $680 million outflows from BTC and ETH into stablecoins.

London-listed technology company, The Smarter Web Company, has increased its Bitcoin holdings by 25 BTC, bringing its total to 2,830 BTC. According to Foresight News, this move reflects the company's ongoing interest in cryptocurrency investments.

Germany's Consumer Price Index (CPI) for April was finalized at a monthly rate of 0.6%, matching both the forecast and the previous month's rate, according to Jin10.

Avalon Labs is set to launch a gold-backed yield product on the SuperEarn platform, specifically targeting institutional investors who have completed Know Your Business (KYB) verification. According to NS3.AI, the product will utilize Tether Gold and incorporate a market-neutral strategy, real-world asset allocation, and proprietary risk management techniques. However, Avalon Labs has not yet disclosed a specific launch date for this new offering.

According to PANews, the scope of market opportunities is expanding beyond the crypto ecosystem to include U.S. stocks. This development allows for 24/7 access to global market possibilities, providing investors with a broader range of investment options.

Zhongwei Semiconductor (Shenzhen) Co., Ltd. has officially launched its self-developed 32 Mbit SPI NOR Flash chip, marking the latest addition to its storage product series following the release of its first NOR Flash earlier this year. According to Jin10, the new product has not yet achieved sales, posing risks related to market promotion and customer acquisition that may fall short of expectations. The NOR Flash market is relatively small and increasingly competitive, which could lead to losses affecting the company's overall profitability as a new entrant. Additionally, the investment in product series development might divert resources from traditional product research, potentially weakening the competitiveness of the company's established products. There are also uncertainties regarding the progress, outcomes, and market acceptance of the storage product series, as well as the risk of cyclical fluctuations in company revenue due to the cyclical nature of storage products.

Christopher Delgado, the former CEO of Goliath Ventures, has publicly apologized to investors following accusations by U.S. prosecutors of operating a Ponzi scheme involving approximately $328 million. According to ChainCatcher, Delgado expressed regret for betraying investors' trust and stated that he has voluntarily returned to the United States to face charges of fraud and money laundering.

Prosecutors allege that from January 2023 to January 2026, Delgado promised investors fixed monthly returns under the guise of 'crypto liquidity pool investments,' while actually using funds from new investors to pay returns to earlier investors. Additionally, U.S. prosecutors claim that some of the funds were used to purchase Florida real estate valued at $14.5 million and to host lavish events and trips. Delgado is currently out on bail and, if convicted on all charges, could face up to 30 years in federal prison.

European Central Bank (ECB) Governing Council member Pachalidis has indicated that there are scenarios in which the ECB might not proceed with interest rate hikes. According to Jin10, Pachalidis highlighted the possibility of maintaining current rates under certain economic conditions. This statement comes amid ongoing discussions about the ECB's monetary policy direction.