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CoinDesk’s April 2026 Exchange Report recently revealed that HTX (formerly Huobi) increased its spot market share among global centralized exchanges by 0.88%, ranking third in growth. With a 3.79% spot market share, HTX ranks among the top four Chinese-language centralized exchanges. Additionally, in the derivatives market share ranking for centralized exchanges, HTX holds 1.98%, placing sixth among Chinese-language exchanges.
A recent exchange report published by CoinDesk shows that Gate continues to maintain a leading global position in both spot and derivatives markets. In April, Gate's spot trading volume reached $39.3 billion, while its derivatives trading volume hit $350 billion. Combining both spot and derivatives, its total trading volume ranked fourth globally. Meanwhile, Gate also secured the fourth spot in the global derivatives exchange ranking, holding a 9.86% market share and maintaining its position as a top-tier trading platform worldwide.The report indicates that despite a general decline in overall derivatives market activity, the open interest on centralized exchanges saw a counter-trend increase of 16.9% in April, reaching $105 billion—a new high since February this year. Gate ranked fourth among global retail trading platforms in terms of open interest, with a 9.45% market share, reflecting its ongoing advantages in liquidity depth, trading activity, and competitiveness within the derivatives market.Beyond trading services, the CoinDesk report also highlighted multiple advancements in Gate’s products and ecosystem. Gate has become the first centralized exchange to integrate Polymarket, allowing users to participate in prediction market trading directly through the Gate App using USDT. Currently, Gate has established a systematic framework focusing on the convergence of AI and Web3, progressively forming an AI ecosystem comprising Gate.AI, Gate for AI Agent, GateRouter, and GateClaw. This positions Gate to accelerate its evolution into a key gateway for next-generation AI and on-chain interactions.
MoonPay has announced the launch of a new platform, MoonPay Trade, designed for banks, fintech companies, and enterprise clients. It provides unified access to tokenized assets, decentralized finance (DeFi) protocols, and stablecoin liquidity across over 200 blockchain networks.The platform is powered by Decent.xyz, a cross-chain routing infrastructure company recently acquired by MoonPay for a reported "high eight-figure USD amount." MoonPay stated that this product will serve as the core execution layer for its institutional business, MoonPay Institutional, which is led by former Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Caroline Pham.MoonPay Trade will support subscriptions for tokenized funds, collateral transfers, and integrations with DeFi protocols such as Aave, Morpho, and Maple Finance, enabling institutions to conduct lending and yield generation operations directly on-chain.Industry data shows that the current scale of tokenized real-world assets (RWA) has exceeded $33 billion, growing threefold within a year. Traditional financial institutions, including BlackRock, Franklin Templeton, and JPMorgan, have successively launched tokenized fund products, accelerating the influx of institutional capital into on-chain finance.MoonPay stated that as institutions continue to advance their tokenized asset strategies, its goal is to provide traditional financial institutions with the infrastructure capabilities for compliant access to on-chain markets through a unified interface. (CoinDesk)
According to CoinDesk, cryptocurrency custody firm Copper is seeking to sell the company at a valuation of approximately $500 million and has engaged Wall Street investment bank Cantor Fitzgerald to assist with the transaction. Copper’s core asset is its ClearLoop custody-based settlement system, which enables institutional clients to execute delivery versus payment (DvP) transactions without moving assets on-chain, effectively eliminating settlement risk. The company currently boasts over 1,000 active counterparties and processes over $50 billion in notional trading volume monthly. Copper had previously considered an IPO, but the broader crypto IPO market has entered a wait-and-see phase amid sluggish Bitcoin prices and the capital-attracting effect of the AI sector.
According to CoinDesk, Timothy Massad, former Chair of the U.S. Commodity Futures Trading Commission (CFTC), stated that although former President Trump has publicly pledged opposition to central bank digital currencies (CBDCs) and government-backed dollar-pegged stablecoins, the U.S. may ultimately launch a government-backed on-chain digital dollar initiative, driven by the global advancement of tokenized finance. Massad noted that the White House is conducting closed-door research into the relevant infrastructure, and the U.S. has already joined the Bank for International Settlements’ (BIS) Project Agora. Meanwhile, Mark Gould, Head of Payments at the Federal Reserve, said that a digital dollar currently falls outside the Federal Reserve’s mandate—but if a government-backed digital dollar were to be launched, the Federal Reserve would assume responsibility for it.
According to CoinDesk, German stablecoin startup AllUnity plans to launch SEKAU—a Swedish krona-pegged stablecoin—in June, following final regulatory and operational approvals, and will issue it under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. Meanwhile, AllUnity has also launched Agentic Payments, enabling businesses to receive transactions initiated autonomously by AI software agents and settle funds directly into local bank accounts. The system adopts Coinbase’s x402 payment standard and targets online digital services, content, and data sales. AllUnity is backed by DWS, Flow Traders, and Galaxy Digital, and is regulated by Germany’s Federal Financial Supervisory Authority (BaFin).
According to CoinDesk, crypto infrastructure firm Zerohash is seeking new funding at a valuation exceeding $1.5 billion. This comes after Mastercard abandoned its investment plans for Zerohash following its $1.8 billion acquisition of UK-based stablecoin infrastructure company BVNK. Founded in 2017, Zerohash provides APIs and embedded development tools to financial institutions and fintech companies, enabling support for cryptocurrencies, stablecoins, and tokenized products. The company now serves over 5 million users across 190 countries, with clients including Morgan Stanley, Stripe, Interactive Brokers, BlackRock’s BUIDL Fund, and Franklin Templeton. In September 2025, Zerohash closed its $104 million Series D-2 round, valuing the company at $1 billion at that time.
According to CoinDesk, U.S. President Trump signed an executive order on Tuesday local time, directing the federal government to update its regulatory framework to integrate digital assets and innovative technologies into traditional financial services and payment systems. The order requires financial regulatory agencies to review existing rules within three months to identify barriers hindering collaboration between fintech firms and federal regulators, and to implement measures to encourage innovation within six months. Additionally, the executive order specifically directs the Federal Reserve to review regulations governing non-bank financial institutions’ access to payment accounts and services—a move that could directly benefit Wyoming’s Special Purpose Depository Institutions (SPDIs) and companies operating under similar frameworks. Firms such as Kraken have previously actively sought access to Federal Reserve master accounts.
According to CoinDesk, decentralized exchange Ostium has announced it is the first on-chain trading platform to offer perpetual contracts on individual U.S. equities powered by Nasdaq data, enabling users to gain exposure to U.S. stocks via blockchain infrastructure. Built on Arbitrum, Ostium focuses on perpetual futures pegged to real-world assets, supporting trading in equities, stock indices, foreign exchange, and commodities. Official data shows that since its launch in 2024, the platform has recorded over $50 billion in cumulative trading volume and attracted more than 26,000 traders. This partnership reflects the growing adoption of equity perpetual contracts in on-chain markets and highlights Nasdaq’s accelerated efforts to build tokenized stock trading infrastructure.
the U.S. Securities and Exchange Commission (SEC) is preparing to introduce a new regulatory framework for trading tokenized stocks, which could be announced as early as this week. It is reported that the SEC is studying an "innovation exemption" mechanism, allowing trading platforms to offer digital versions of listed securities on-chain under more relaxed regulatory conditions. This move is seen as a significant signal that U.S. regulators are further shifting towards supporting tokenized securities.Currently, multiple Wall Street institutions have accelerated their layout in related businesses. The Depository Trust & Clearing Corporation (DTCC) plans to launch limited production trading of tokenized assets in July and expand promotion in October; Nasdaq is developing a blockchain-based stock issuance framework; and Intercontinental Exchange (ICE) is advancing tokenized stocks and crypto-related products through its partnership with OKX.SEC Chairman Paul Atkins previously stated that the SEC is considering establishing formal rules for on-chain trading systems, blockchain settlement infrastructure, and crypto custody models, and believes that existing securities regulations are no longer suitable for on-chain protocols that integrate trading, clearing, and settlement. (CoinDesk)
the Solana validator client Firedancer, developed by Jump Crypto, is now officially running on the Solana mainnet and has started producing blocks.Firedancer Lead Engineer Ritchie Patel stated that over the past few months, the client has processed tens of millions of transactions. However, the team is currently adopting a gradual deployment strategy and has no plans for a large-scale public rollout. Patel noted that until all security audits are complete, upgrading more than half of the network's validators simultaneously would pose significant risks.Firedancer is an independent validator client developed by Jump Crypto for Solana, aimed at enhancing network performance and reducing the risks associated with reliance on a single client. Patel indicated that the project's architecture draws from traditional high-frequency trading systems, with the goal of bringing blockchain performance closer to that of conventional financial market infrastructure.Additionally, the team has recently concluded a public security audit competition with a total prize pool of $1 million. According to Patel, with Firedancer's gradual deployment, the Solana network's stability during high-concurrency scenarios such as meme coin and NFT trading has already seen a notable improvement. (CoinDesk)
the escalating situation in Iran is becoming a real-world stress test for the financial market's ability to trade around the clock. Market analyst Huang pointed out that amid the latest geopolitical conflict, traders did not wait for traditional financial markets to open. Instead, they conducted transactions directly through blockchain infrastructure, engaging in round-the-clock price discovery and risk hedging for assets like crude oil and gold on on-chain platforms such as Hyperliquid.The analysis suggests that the current speed of information dissemination has far exceeded the response mechanisms of traditional markets. News spreads instantly across time zones, yet traditional trading systems remain constrained by market opening hours and weekend closures. This prevents prices from reflecting the latest information in real-time, often leading to concentrated volatility and liquidity shocks when markets reopen.In contrast, blockchain networks offer 24/7 operation and real-time settlement capabilities, allowing traders to continuously adjust their positions during non-trading hours. This is viewed as a complement, or even an alternative, to traditional market structures. During this Iran conflict, the value of this "never-closed market" model has been further highlighted.Analysts point out that the core contradiction lies in the structural mismatch between market infrastructure and the information environment. Although the traditional financial system still holds advantages in liquidity and scale, time boundaries are increasingly becoming a source of inefficiency, especially in a macro environment characterized by high volatility and frequent unexpected events.Meanwhile, on-chain derivatives platforms represented by Hyperliquid are validating the feasibility of 24/7 markets, gradually taking on part of the risk pricing function during weekends and non-trading hours. However, the industry generally acknowledges that current on-chain systems still face constraints in terms of liquidity depth, performance, and institutional-grade risk control, making it difficult to fully replace traditional exchanges in the short term.Overall, the market is shifting from being "trading session-driven" to "information-driven perpetual trading," and competition at the infrastructure level is accelerating. (CoinDesk)
Turnkey, a company specializing in crypto wallets and key management infrastructure, has announced the completion of a $12.5 million strategic financing round. Archetype and Circle Ventures led the round, with participation from Sequoia Capital, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, and Variant. The project's total funding has now exceeded $65 million.The company's primary business involves developing wallet and key management infrastructure for crypto applications. This round of financing will be used to support the development and public launch of Turnkey Verifiable Cloud, a product focused on digital asset security computing. This product aims to provide enterprises with verifiable operating environments, encompassing functionalities such as transaction visibility, policy decisions, and agent-driven wallet activities. Turnkey's current clientele includes Polymarket, World App, and Anchorage Digital.
According to CoinDesk, Moody’s has awarded the highest rating of AAA-mf to Fidelity’s and BlackRock’s tokenized money market funds, signifying that both institutions’ products meet the highest standards in credit quality, liquidity, and capital preservation. Fidelity’s FILQ fund launched on May 6, built on Sygnum’s Desygnate tokenization platform, enabling real-time on-chain cash settlement and supported by infrastructure from J.P. Morgan, Apex Group, and Chainlink; BlackRock’s BUIDL fund launched in March 2024 and currently accounts for approximately 15% of the tokenized Treasury market.
Bitwise Chief Investment Officer Matt Hougan stated that privacy is becoming a core infrastructure direction for the next phase of the crypto industry. Recently, three institutional-grade blockchains focused on stablecoins and asset tokenization—Arc, Canton, and Tempo—have accumulated over $1 billion in total funding, indicating a rapidly growing demand from institutions for "privacy-friendly on-chain financial systems."Among them, stablecoin issuer Circle contributed $222 million in funding for Arc, giving it a valuation of approximately $3 billion; Digital Asset’s Canton blockchain is reportedly seeking $300 million in funding at a $2 billion valuation; and Tempo, backed by Stripe and Paradigm, has previously completed $500 million in funding at a valuation of $5 billion.Hougan noted that this funding wave reflects three major trends: the gradual clarification of the U.S. regulatory framework, increased institutional demand for on-chain privacy, and intensified competition among new blockchain networks supported by large enterprises. Current public blockchains still face structural trade-offs between speed, cost, security, and privacy. However, scenarios involving stablecoins and RWA tokenization require systems that simultaneously offer high performance, compliance, and privacy, making “verifiable privacy” a critical prerequisite for institutional adoption of on-chain finance.Hougan further stated that, for enterprises, “all transactions being publicly broadcast” is not an advantage but a potential flaw. In the future, users and institutions may find it increasingly difficult to accept a fully transparent on-chain financial environment. He believes that privacy capabilities could become the “killer app” driving the crypto industry into its next phase of mainstream adoption. Additionally, following the passage of the U.S. Genius Act in 2025, regulatory certainty has significantly increased, providing a clearer policy foundation for institutional funds to enter the crypto infrastructure space. (CoinDesk)
According to CoinDesk, Denis Beau, Deputy Governor of the Bank of France, has publicly called on Europe’s public and private sectors to jointly advance the development of euro-tokenized money to counter the dominance of U.S. dollar–pegged stablecoins. This stance stands in clear contrast to that of European Central Bank (ECB) President Christine Lagarde, who remains cautious toward private stablecoins—citing financial stability risks posed by USDT, USDC, and others—and favors a central bank–led digital euro initiative expected to launch in 2029. Beau outlined a “triple objective” for Europe’s development: aligning with central bank monetary services; enabling regulated institutions to issue pan-euro tokenized private money; and strengthening the Markets in Crypto-Assets (MiCA) regulatory framework. His position closely aligns with that of the Qivalis consortium—a group comprising 12 major European banks, including ING, BBVA, and BNP Paribas—which plans to launch a private digital euro this year. Beau also revealed that the eurosystem will roll out its first tokenized wholesale central bank money service before year-end.
According to CoinDesk, the Depository Trust & Clearing Corporation (DTCC) announced it will leverage Chainlink’s infrastructure to power its blockchain-based collateral management platform, Collateral AppChain. Built on the Besu blockchain, the platform utilizes Chainlink’s Compute Runtime Environment (CRE) and data standards to support asset pricing, valuation, margin calculation, collateral optimization, and settlement. Through smart contracts, it enables 24/7 automated collateral management—aiming to address the current delays in cross-institutional and cross-time-zone movement of assets within existing collateral systems.
Odaily Planet Daily reported that payment company Corpay has announced a partnership with stablecoin infrastructure provider BVNK to introduce stablecoin wallet and settlement capabilities into its global enterprise payment platform, providing a new channel for cross-border fund flows outside the traditional banking system. Through this integration, Corpay’s enterprise customers can view both fiat and stablecoin balances on the same platform interface, and are supported in sending, receiving, storing, and exchanging stablecoins, realizing embedded wallet functions that cover more flexible cross-border payment scenarios. (CoinDesk)
: Solana core development team Anza announced that a major consensus mechanism upgrade, codenamed Alpenglow, has been launched on the community testnet. Validators can now switch from the current Proof-of-Stake, Proof-of-History, and TowerBFT architecture to the new consensus framework within the test cluster.The upgrade shortens transaction finality time and improves network response efficiency by restructuring the validator communication and block confirmation process. This testing phase marks that validators can now execute the Alpenswitch migration operation in a real-world environment. Solana co-founder Anatoly Yakovenko previously stated that if testing goes smoothly, Alpenglow could be deployed to the mainnet as early as next quarter. (CoinDesk)
Odaily Odaily Planet Daily reports, Ronin, the gaming-focused blockchain behind Axie Infinity, will migrate from an independent sidechain to an Ethereum Layer 2 network (L2) via a hard fork on May 12. The upgrade adopts the OP Stack architecture and is expected to trigger approximately 10 hours of network downtime, during which transfers, swaps, contract interactions, and on-chain gaming activities will all be paused.This upgrade simultaneously introduces the Proof of Distribution mechanism, which automatically rewards ecosystem builders based on their actual network contributions. In terms of tokenomics, RON's inflation rate will be drastically reduced from over 20% to below 1%; the 90 million RON originally allocated for staking rewards will be transferred to the treasury fund; and the market fee will be increased from 0.5% to 1.25% to enhance network security, scalability, and long-term economic stability. (CoinDesk)