Karim

@skkarim2244

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Zircuit has announced the launch of its AI trading engine, Hyperliquid for AI Trading. The engine features real-time signal detection and cross-chain auto-routing across EVM and Solana. A closed beta will begin in late July, followed by a public launch in August, with an ecosystem incentive program planned for Q4.

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Citadel Securities submitted a letter this week to the SEC’s Crypto Assets and Cyber Unit opposing exemptions for tokenized equities, warning they could siphon liquidity from traditional markets and blur investor understanding of issuers. The firm asserted that tokenized stocks should be regulated under the same standards as traditional securities.

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PUMP token public sale has completed 100% of sales progress. PUMP sale has ended, and the public sale of $600 million took 12 minutes. — link Pumpfun’s official website indicates that 12.5% of the tokens were sold in the public sale, raising $500 million — a discrepancy from the previously announced plan to sell 15% and raise $600 million. As of now, the Pumpfun team has not provided a public explanation for the difference.

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Binance has officially announced that following the suspension of U.S. sanctions, Syria is no longer classified as a “prohibited country.” The platform is now fully open to Syrian residents, who can access services including spot and futures trading, staking and earn products, Binance Pay for cross-border payments, and educational content in Arabic.

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Bloomberg reports that Stripe acquired crypto wallet provider Privy for an undisclosed amount, following its $1.1 billion acquisition of stablecoin infrastructure firm Bridge. By integrating Privy and Bridge, Stripe is accelerating its push into stablecoin and crypto payment infrastructure. Privy will continue operating as a standalone product. In March, Privy raised $15 million in a funding round led by Ribbit Capital.

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Cardano founder Charles Hoskinson has announced the launch of Cardinal, the first Bitcoin DeFi protocol on the Cardano network. The protocol leverages MuSig2 multi-signature technology to enable non-custodial cross-chain functionality, allowing users to directly use Bitcoin UTXOs for lending and staking on Cardano. It also supports Ordinals inscriptions as collateral. Cardinal is the first solution enabling Bitcoin to access the Cardano ecosystem without requiring custody.

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South Korea’s largest cryptocurrency exchange, UPBIT, has announced that it will list the Balance (EPT)/USDT trading pair and Axelar (AXL) trading pairs with KRW and USDT on June 10. Balance is a project dedicated to enhancing the Web3 user experience through the use of AI. Axelar is a blockchain built using the Cosmos SDK and operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism.

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Avalon Labs has announced the burn of 80 million AVL tokens, representing approximately 44% of the circulating supply. The burned tokens primarily came from unclaimed allocations in an earlier airdrop campaign. Launched in March 2024, the campaign saw a total of $20 million worth of AVL successfully claimed.Avalon Labs is a Bitcoin financial services platform, which previously announced the completion of its strategic funding round, led by YZi Labs.

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Tether CEO Paolo Ardoino stated that if Tether were to go public, its valuation would reach $515 billion, making it the 19th largest company in the world—surpassing Costco and Coca-Cola. While the figure is impressive, he noted it might be slightly conservative considering Tether's current and growing Bitcoin and gold reserves. Nevertheless, Tether aims to remain humble and is truly excited about the company's next phase of growth.

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ZachXBT said SIM swap and social engineering attacks deserve harsher punishment. Laws in Canada and the EU are too lenient, allowing many offenders—often minors—to avoid consequences and remain anonymous. He cited 17-year-old Canadian Cameron Redman, who helped steal $37 million via SIM swapping in 2020, but his identity wasn't revealed until he was involved in phishing and X account takeovers.

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The Bitcoin community is debating BIP-177, a proposal to redefine the base unit as 1 Bitcoin instead of “satoshi” or “sat”, while keeping BTC unchanged as the currency code. Under the proposal, 1 BTC = 100,000,000 Bitcoin. Supporters argue it improves clarity and aligns better with Bitcoin’s original design. Jack Dorsey expressed support by simply posting “BIP-177” on X.

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Coinbase CEO Brian Armstrong told Bloomberg TV that after the $2.9 billion acquisition of Deribit earlier this month, the company is still exploring more M&A opportunities, especially those that support international expansion and product growth. He emphasized Coinbase's strong financial position and selective approach. On a potential Circle acquisition, he said, “No news to announce today.”

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South Korea’s largest exchange Upbit announced the launch of Nexspace NXPC’s KRW、BTC、USDT trading pairs. Nexpace is the native token of Henesys L1, the mainnet of MapleStory Universe, and supports Avalanche C Chain as a multi-chain. MapleStory Universe is a virtual world built based on Maple Story, the representative game IP of game developer NEXON.

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The Wyoming Stable Token Commission has partnered with Inca Digital to provide anti-money laundering surveillance and risk management for the upcoming state-backed stablecoin WYST, which will be fully backed by U.S. Treasuries, cash, and repurchase agreements and is scheduled to launch in July 2025.

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YZi Labs (formerly Binance Labs) announces a 10-week in-person program for top Web3, AI, and healthcare founders. It will invest $500,000 in each accepted startup, $150,000 for 5% equity and $350,000 on an uncapped SAFE. The applications will close at 23:59 (GMT-7) on May 21, 2025.

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Solana co-founder Toly has proposed the concept of a Meta Blockchain, which involves posting data across chains such as Ethereum, Celestia, and Solana, then merging that data into a single ordered sequence using predefined rules. This approach aims to leverage the most cost-effective data availability (DA) solution at any given time.

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Backpack Exchange has announced that it will officially launch the withdrawal process for former FTX EU users on May 12, 2025, marking the final stage of its fund distribution efforts. Previously, Backpack completed the acquisition of FTX EU and launched a dedicated KYC page to prepare for the withdrawal process.

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Ki Young Ju, founder and CEO of CryptoQuant, tweeted that“dark stablecoins”are likely to emerge in the future. There are two possible ways to create such stablecoins: (1) algorithmic stablecoins that are not controlled by governments; (2) stablecoins issued by countries that do not enforce financial censorship. USDT was once considered a censorship-resistant stablecoin, and if Tether refuses to comply with U.S. regulations under a potential Trump administration, it could be regarded as a“dark stablecoin.”

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China's official media Xinhua: China and the U.S. held high-level economic and trade talks in Geneva. According to the Chinese delegation, both sides engaged in comprehensive discussions, reached significant consensus, and made substantive progress. They agreed to establish a consultation mechanism, designate lead representatives, and plan to release a joint statement on May 12.

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JUST IN: 🇺🇸 President Trump says his next post on Truth Social "will be one of the most important and impactful" he has ever made.

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