News linked to both this project and an event.
According to The Block, the DeFi lending protocol Radiant Capital has announced it will officially cease operations. The protocol suffered a hack in October 2024, losing approximately $51 million; the attacker gained unauthorized access by deploying backdoor contracts on Arbitrum and BNB Chain. Earlier in 2024, the protocol had also been hit by a flash loan attack, resulting in a loss of roughly 1,900 ETH (approximately $4.5 million). After 18 months of recovery efforts, Radiant Capital stated that it has neither recovered a significant portion of the stolen funds nor secured new financing, declaring that “the DAO has no viable path forward.” The protocol will now enter a “maintenance mode”: its frontend and smart contracts remain accessible, allowing users to withdraw funds, repay loans, and manage positions. Any funds recovered in the future will be returned to affected users.
: Texas Deputy Comptroller Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. Established pursuant to Senate Bill 21, the committee includes CleanSpark President and CFO Gary Vecchiarelli, Bitcoin mining firm Cormint founder and CEO Jamie McAvity, Southern Methodist University law professor Carla Reyes, and investment executive Laurie Dotter. They will advise the Comptroller on Bitcoin valuation, custody, and risk management. (The Block)
Hypernova has announced the completion of a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, Pivot Global, and multiple angel investors from the Hyperliquid ecosystem.The project's main business is building a proprietary trading platform on Hyperliquid, using smart contracts to automate trader payouts, and dynamically determining whether to push positions to market based on trader quality. (The Block)
Bit Digital announced it will provide a $100 million delayed draw term loan facility to a subsidiary of WhiteFiber, an artificial intelligence infrastructure and high-performance computing provider in which it holds a majority stake. The facility can be expanded to $150 million upon mutual agreement and is intended to support WhiteFiber's recent expansion plans in high-performance computing and artificial intelligence.Bit Digital expects that draws under this facility will be funded in whole or in part through a credit line secured by Ethereum. This arrangement allows Bit Digital to earn a financing spread on the loan assets while maintaining exposure to Ethereum.Bit Digital has fully exited its Bitcoin mining operations. The company reported total revenue of $27.9 million and a net loss of $146.7 million for the first quarter of 2026. (The Block)
According to The Block, Bit Digital announced a $100 million delayed-draw term loan to a subsidiary of WhiteFiber, its majority-owned AI infrastructure company. The facility may be expanded to $150 million upon mutual agreement between the parties, to support WhiteFiber’s recent high-performance computing and AI expansion initiatives. Bit Digital stated that the loan proceeds will be disbursed—either partially or in full—through an Ethereum-denominated secured credit facility, enabling the company to retain ETH exposure while earning a financing spread.
According to The Block, cross-chain infrastructure platform Squid has raised $6 million in strategic funding, led by North Island Ventures, with participation from Ripple, Dialectic, and Borderless. The funds will be used to launch a new consumer-facing product. Fig, co-founder of Squid, stated that the product will leverage Squid’s routing and settlement infrastructure to enhance the experience of accessing and managing crypto assets. Squid said that since its launch in 2023, the platform has processed over $6 billion in transaction volume and more than 4 million transactions across more than 100 blockchain networks, serving over 1 million users.
According to The Block, Foundation, a Bitcoin hardware wallet manufacturer, has raised $6.4 million in funding. The round was led by Fulgur Ventures, with participation from Arche Capital. The company plans to accelerate its expansion from Bitcoin self-custody wallets into identity authentication, multi-factor authentication (MFA), and AI agent authorization. Following this round, Foundation’s total funding has reached $16.5 million. Meanwhile, Foundation has announced the full commercial launch of its flagship device, the Passport Prime, and opened its KeyOS platform SDK to developers. The device integrates a Bitcoin hardware wallet, FIDO security key, 2FA storage, secure vault, and 50 GB of encrypted storage.
non-custodial crypto wallet Sorted Wallet has completed a $4.4 million seed funding round, co-led by Tether and Gnosis with a $3.4 million equity investment. Vox Solutions provided an additional $1 million in strategic support, with angel investors including Movement, Angel Invest Group, and the founder of RWA.io also participating. (The Block)
According to The Block, non-custodial crypto wallet Sorted Wallet has raised $4.4 million in seed funding. Tether and Gnosis co-led a $3.4 million equity financing round, while Vox Solutions provided $1 million in strategic support. Angel investors—including Movement, Angel Invest Group, and the founder of RWA.io—also participated in the round.
According to The Block, three Wall Street firms—Benchmark, TD Cowen, and Mizuho—maintained “Buy” ratings on four crypto-related companies—Bitdeer, DeFi Technologies, Strive, and Gemini—on Monday, noting that the market continues to value these platforms, which have pivoted toward AI infrastructure, capital markets tools, and structured financial products, using trading-business valuation multiples. Benchmark analysts reiterated their “Buy” rating on Bitdeer and $27 price target, highlighting its global power asset portfolio of approximately 3.0 GW and the growth of its AI cloud business’s annual recurring revenue—from roughly $10 million at the end of January to approximately $69 million by the end of April. TD Cowen raised its price target for Strive to $30, forecasting a 26.1% Bitcoin yield for the company in 2026. Mizuho maintained its “Outperform” rating on Gemini but lowered its price target from $12 to $10, noting that although Q1 trading volume declined by over 50%, trading revenue remained largely flat—reflecting higher fee rates and an optimized revenue mix.
According to The Block, WLFI treasury company AI Financial released its financial results for the quarter ended March 28, 2026, reporting a net loss of $271.5 million, compared to a net loss of $2.4 million in the same period last year; the company stated that its financial condition raises substantial doubt about its ability to continue as a going concern over the next year. Revenue for the same period totaled $4.7 million, entirely derived from its crypto payment fintech business. AI Financial holds 7.28 billion WLFI tokens, with a fair value of approximately $706 million—markedly down from over $1 billion at the end of December 2025—and recognized an unrealized loss of $348.3 million. The company also noted that certain WLFI tokens are subject to lock-up restrictions, and its liquidity improvement, revenue growth, and ability to secure future financing will impact its continued operations.
According to The Block, crypto infrastructure provider Zerohash Europe has obtained an Electronic Money Institution (EMI) license from the Dutch Central Bank (DNB), becoming the first company to hold both a European MiCAR license and EMI authorization. Zerohash previously secured its MiCAR license in October 2025; this dual licensing enables it to legally provide crypto-asset services and process traditional electronic money flows across the European Economic Area (EEA), and to directly serve institutional clients such as banks, brokers, fintech firms, and payment platforms. The company is already collaborating with partners including Interactive Brokers Europe and has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. Additionally, Zerohash is reportedly seeking $250 million in funding at a $1.5 billion valuation.
Odaily. Bernstein stated in its latest research report that the newly reached compromise on stablecoin yields under the U.S. CLARITY Act is structurally beneficial for Circle and the USDC ecosystem.The report notes that the current version of the bill prohibits stablecoin issuers from paying interest to passive holders that is "economically equivalent" to bank deposits, but allows reward mechanisms tied to actual transaction, payment, and usage activities to continue. Bernstein believes this means Circle's current model, which relies on partners like Coinbase to provide USDC reward programs, will gain regulatory recognition, while also limiting the industry's ability to compete for market share through high yields.Bernstein points out that the bill effectively reinforces the positioning of stablecoins as "payment tools" rather than "deposit substitutes," helping to protect Circle's current business model that relies on reserve income. The firm maintains an "Outperform" rating for Circle with a $190 target price.Data shows that the total global supply of dollar-pegged stablecoins has surpassed $300 billion, with USDT and USDC collectively accounting for approximately 97% of the market share. Bernstein notes that USDC's share in on-chain payments and wallet transfers is steadily increasing, and its share of payments in the AI Agent payment protocol x402 has exceeded 99%.Additionally, Bernstein mentioned that Circle's ARC chain has cumulatively completed 244 million testnet transactions. The ARC token pre-sale previously raised $222 million, with investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock.However, the report also points out that the CLARITY Act still needs to complete multiple legislative procedures before it takes effect, including a 60-vote threshold in the full Senate and coordination with the House version. Polymarket currently estimates its probability of passage by 2026 at approximately 62%. (The Block)
Sharplink CEO Joseph Chalom stated that Ethereum treasury companies are gradually deviating from the model of Strategy and Michael Saylor, focusing more on staking yields and a clean balance sheet rather than relying on complex financing structures.Chalom believes that Ethereum treasury companies can generate returns directly by holding ETH, thus eliminating the need for excessive leverage. He also indicated that only a few Ethereum treasury companies will be able to survive through market downturns.Furthermore, citing BlackRock CEO Larry Fink's previous views, he described Ethereum as a "tokenized toll road" and pointed out that the New York Stock Exchange and Nasdaq's push for 24-hour trading plans, DTCC's exploration of tokenized collateral, and Bullish's acquisition of Equiniti will all further drive tokenized assets into the traditional financial system.Chalom expects that as stablecoins, tokenized assets, DeFi, and AI applications continue to expand, Ethereum will gradually forge a different development path from Bitcoin in the future. (The Block)
According to The Block, the T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON, and TRM Labs, announced that since its founding in 2024, it has frozen over $450 million worth of illicit crypto assets globally. In 2025, the unit’s interception of illicit proceeds increased by 43.9% year-on-year, covering 23 jurisdictions including the United States, Spain, and Germany, and has been recognized by the Financial Action Task Force (FATF) as “a critical resource for global law enforcement agencies.” The T3 FCU has participated in investigations across multiple crime categories, including exchange hacks, North Korea–related activities, terrorist financing, and violent crimes, and assisted Brazil’s Federal Police in freezing over $5.989 billion in assets—including 4.3 million USDT.
According to The Block, Matt Hougan, Chief Investment Officer at Bitwise, noted that three enterprise-grade blockchains—Arc (by Circle), Canton Network, and Tempo (by Stripe)—have collectively raised over $1 billion in funding recently. All three funding rounds occurred after the signing of the GENIUS Act in July 2025. Hougan believes this legislation broke a prior regulatory stalemate that had discouraged institutional capital from entering the space. Hougan identified three key signals: First, all three blockchains prioritize native privacy-preserving transactions as a core design feature, addressing institutions’ need for transaction confidentiality. Second, the implementation of the GENIUS Act has significantly reduced regulatory uncertainty; the next critical variable is the pending Clarity Act, from which stablecoins and tokenization infrastructure stand to benefit. Third, these blockchains are backed by top-tier institutions—including Goldman Sachs, Citadel, BlackRock, Stripe, and Visa—marking a stark contrast to Ethereum and Solana, which emerged from grassroots origins. Hougan stated that his firm’s capital remains primarily allocated to native crypto projects, and he believes these emerging enterprise chains will raise the overall competitive bar and attract additional capital inflows.
Odaily Odaily reports, stablecoin yield infrastructure project Osero announced the completion of a $13.5 million funding round, led by Sky Ecosystem, with co-leading from Plasma. Participating investors include RedStone, The Rollup, Kairos Research, as well as several crypto institutions and industry executives such as Joe Flanagan and Lorenzo Romagnoli. Osero was co-incubated by Stablewatch and Soter Labs, a governance and operations institution associated with the Sky Ecosystem. The project focuses on building savings and yield infrastructure around the Sky stablecoin system USDS and its yield-bearing asset sUSDS. It is reported that the funding round was initiated in December 2024 and completed in March 2026, utilizing a SAFT structure for issuance. The valuation was not disclosed. (The Block)
Bernstein has reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a price target of $67, implying approximately 72% upside from the current share price of $38.97.Figure posted strong Q1 2026 results: loan origination volume reached $2.9 billion, up 113% year-over-year; adjusted revenue was $167 million, surpassing market expectations by 6% and up 92% year-over-year; adjusted EBITDA was $82.7 million, with a margin of approximately 50%, slightly above market consensus. However, GAAP diluted EPS was $0.18, missing expectations by about 9%, primarily impacted by $26 million in stock-based compensation expenses.Bernstein analysts believe this performance should reshape market perception of Figure, viewing it not as a traditional credit company, but as a "tokenization-driven capital markets platform." Core profitability stems from network fees and operational leverage from scaling, and the valuation framework remains based on 25x 2027 EBITDA. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-over-quarter); the stock lending product balance stood at $368 million (up 79%); and the small business loan segment contributed $60 million in revenue.Figure's current share price remains not far from its 2025 IPO offering price of $36, but still significantly below its all-time high of $78. (The Block)
According to The Block, research and brokerage firm Bernstein has maintained its “Outperform” rating on Circle Internet Group (CRCL), with a target price of $190—representing approximately 44% upside from Monday’s closing price of $131.76. Analysts led by Gautam Chhugani noted that Circle’s $222 million ARC token presale—completed at a fully diluted valuation of $3 billion—provides the company with near-term cushioning against a 11% sequential decline in reserve income driven by weakening interest rates.
稳定币基础设施初创公司 Boundary Labs 宣布完成 200 万美元 Pre-Seed 轮融资，Galaxy Ventures 领投，First Block Capital、BlackWood 等机构参投，该公司计划于 2026 年夏季在以太坊主网上线机构级稳定币 USBD 及质押版本 sUSBD。据介绍，USBD 将支持每日链上披露储备状态、净资产价值（NAV）以及协议运行数据，并采用超额抵押与 Delta Neutral（市场中性）对冲策略，以降低市场波动与方向性风险。Boundary 强调，其协议不会使用递归杠杆，并要求所有收益来源保持 Delta Neutral 结构。（The Block）