News linked to both this project and an event.
According to CoinDesk, Wall Street bank Cantor Fitzgerald issued a research report indicating that the crypto market is entering the final phase of the current bear cycle. As of June 10, Bitcoin has declined approximately 51% from its 2025 peak, with 252 days having passed since the peak. Synthesizing the past three market cycles, BTC bottoms on average 384 days after the peak; based on this, the low point of this cycle is projected to appear around the end of October. Analysts also noted that the model is not a precise timing tool, and macro, regulatory, and geopolitical risks remain. Regarding network value assessment, Cantor believes Hyperliquid is the prime example of fee-driven token economics, Bitcoin remains the benchmark monetary asset, and Ethereum serves as the primary collateral layer for on-chain finance; Solana, Sui, XRP, and Zcash each possess differentiated advantages, but still need to prove that their ecosystem growth can translate into sustained token demand.
According to the latest report from investment bank Jefferies, the U.S. "Clarity Act," although having passed a bipartisan 15:9 vote in the Senate Banking Committee, still faces significant hurdles in the subsequent legislative process. Political uncertainty may exacerbate crypto market volatility in the coming weeks. The bill aims to clarify the regulatory boundary for digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and is considered a core legislative framework for the U.S. crypto market structure. Jefferies pointed out that passage would significantly boost institutional participation, while delays would prolong regulatory uncertainty.Currently, Polymarket data shows that the probability of the bill passing before the end of 2026 has dropped to 48%, a significant decline from 70% in mid-May, primarily due to disputes over ethical clauses, anti-money-laundering reviews, and a tight Senate agenda. Analysts note that with approximately only 20 legislative days remaining before Congress adjourns in August, it must complete the reconciliation of House and Senate versions, procedural votes, and submission to the President for signature. If it fails to advance before the recess, it may be delayed until next year, or even further postponed due to changes in the election cycle.Jefferies believes that if the bill is enacted, it will drive the expansion of businesses such as tokenized assets, custody, staking, lending, and crypto ETFs, benefiting the development of markets like Bitcoin (BTC) and Ethereum (ETH). However, if delayed, it could suppress institutional investment in on-chain infrastructure and crypto-related IPOs.Additionally, the market expects policy uncertainty to continue affecting the stock performance of crypto-related public companies such as Circle, Coinbase, and Bullish. Jefferies added that even as regulations gradually clarify, intensified competition in the stablecoin space could become a long-term source of pressure for companies like Circle. (CoinDesk)
MetaMask has announced the launch of a new self-custodial account, "Money Account," which integrates stablecoin yields, payment spending, and trading functions into a single wallet system, further driving its transformation into a comprehensive financial platform. The product, launched by Consensys, is built on the Monad blockchain, with its core asset being the dollar-pegged stablecoin mUSD. Users can earn a floating annualized yield of up to approximately 4% while holding their assets. Funds will be automatically allocated to decentralized lending protocols such as Morpho, with Aave to be integrated in the future.Unlike traditional DeFi products, this account does not require users to manually transfer funds between protocols. Yields are automatically activated upon deposit and can be directly used for trading functions such as token swaps, perpetual contracts, and prediction markets. (CoinDesk)
According to CoinDesk, the UK Financial Conduct Authority has released a draft cryptoasset regulatory framework, proposing to lower the capital buffer requirement for stablecoin issuers from 2% to 1%, which is lower than similar requirements under the EU's Markets in Crypto-Assets Regulation (MiCA). The regulator stated that this move aims to enhance the applicability and operability of the regulatory framework while maintaining overall prudential regulatory intensity.
Blockchain analysis firm Chainalysis has released a new methodological proposal aimed at establishing a unified on-chain fund tracking standard framework for law enforcement agencies and investigators to identify address clusters and determine their probable control relationships.The proposal defines the on-chain analysis structure in the form of an "ontology," centralizing the systematic decomposition of the currently industry-wide non-standardized concept of "cluster" (address clustering) into wallet segments and functional roles. It describes on-chain relationships through a two-tier structure: the first layer defines the transaction graph structure, and the second layer assesses the inferred confidence level.Chainalysis states that the framework aims to enhance the interpretability and legal applicability of on-chain forensic methods and has been validated through its practical experience in cases related to the U.S. Department of Justice, including analysis applied in the Bitcoin Fog mixing service case. The company's Chief Scientist, Jacob Illum, noted that the proposal's goal is to answer "on what evidentiary basis can these addresses be considered to belong to the same entity," but emphasized that on-chain analysis alone cannot directly identify end-user identities and must still be combined with legal investigative methods involving centralized entities such as exchanges.Chainalysis stated that the standard proposal is currently open for industry discussion, aiming to promote a more unified technical standard for on-chain analysis methods in the fields of law enforcement and compliance. (CoinDesk)
Ripple is advancing the addition of a lending infrastructure layer on the XRP Ledger (XRPL), enabling institutions to raise funds using on-chain tokenized assets as collateral. The protocol will automatically execute loan terms, while credit evaluation and lending decisions remain handled by off-chain institutions.According to disclosures, the proposal is named the XRPL Lending Protocol (corresponding to XLS-65 and XLS-66 standards). It is currently in the technical draft stage and will require approval through validator voting before launching on the mainnet, but developer testing has already been opened on the test network.The protocol’s design splits the lending process into two parts: on-chain management of liquidity pools, interest calculation, repayment execution, and default handling; while borrower credit assessment and loan term setting remain with traditional financial institutions to meet compliance requirements across different jurisdictions.Ripple states that the mechanism is primarily aimed at institutional short-term liquidity needs. For example, in cross-border payment scenarios, temporary financing through stablecoins or collateral assets can be obtained before settlement is completed, thereby improving capital efficiency.Analysts believe that while the plan attempts to introduce a “rule-enforced lending infrastructure” similar to traditional finance while maintaining XRPL's open network attributes, it will still face competition from established on-chain lending protocols such as Aave, Compound, and Maple. (CoinDesk)
Framework Ventures co-founder Michael Anderson pointed out in his analysis that the core opportunity in the next stage of the crypto industry may no longer be limited to crypto assets themselves, but rather evolve into a financing infrastructure for capital-intensive industries such as artificial intelligence, robotics, and energy, with blockchain becoming the capital layer.Compared to the 2020–2021 cycle, which was centered on DeFi and crypto speculation, tokenization and stablecoins are evolving from crypto-native applications into financial infrastructure serving the real economy. They can be used to provide more efficient financing channels for assets such as GPU computing power and energy projects. Currently, over $300 billion in stablecoin liquidity on-chain offers new funding sources for asset-backed lending, potentially allowing assets that were traditionally difficult to securitize—such as servers and computing hardware—to be packaged as financeable assets. (CoinDesk)
According to CoinDesk, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, released a report initiating coverage of the decentralized lending protocol Aave, with a target price of $3,500 by end-2030—approximately 50 times its current price of around $70—and expects Aave to outperform both Bitcoin and Ethereum. Kendrick stated that Aave has recovered from the April 2026 KelpDAO rsETH bridge vulnerability incident, during which attackers used approximately $290 million worth of stolen tokens as collateral to borrow real assets on Aave, exposing the protocol to up to $230 million in potential losses. Assets have now begun flowing back onto the platform, and Aave’s dominant position in on-chain lending remains solid. Looking ahead, Standard Chartered forecasts that the value of tokenized assets actively used in DeFi applications will grow 37-fold by 2030. Aave—whose revenue model is directly tied to lending activity—is poised to benefit directly. Additionally, Aave’s Horizon initiative (enabling tokenized real-world asset lending in permissioned environments) and the potential relaunch of its token buyback program are viewed as key catalysts.
According to CoinDesk, blockchain infrastructure company Chainlink has announced its participation in Project Pangea—a consortium formed by Qivalis, a European stablecoin consortium backed by 37 European banks, and UniKA, the Korean banking alliance representing over 10 commercial banks—collectively managing assets exceeding $10 trillion. The project targets the economic corridor between Europe and Korea, which sees annual trade exceeding $15 billion, aiming to reduce foreign exchange settlement cycles from the traditional T+2 (48 hours) to T+0 (near real-time) using regulated euro- and won-pegged stablecoins, and employing atomic PvP (payment-versus-payment) settlement to mitigate counterparty risk. Chainlink will serve as middleware, translating legacy SWIFT instructions into instant atomic swaps on-chain—without requiring banks to replace their existing payment infrastructure. The project aims to achieve live, compliant transactions within 12 months.
According to CoinDesk, the Ethereum Research Forum has released a new proposal introducing a “Validator Redirection Yield” mechanism, allowing validators to redirect 0% to 10% of their staking rewards toward funding ecosystem infrastructure and public goods. If a majority of validators support a specific redirection percentage, that percentage will become mandatory for all validators. Based on current staking levels, a 5% to 10% redirection would generate approximately 50,000 to 70,000 ETH annually for the ecosystem—roughly $120 million. The proposal aims to address Ethereum’s long-standing “free-rider” problem; however, it has also raised external concerns regarding risks such as coordinated validator manipulation of fund allocation and misaligned interests between staking operators and ETH holders. The proposal remains under discussion and has not yet entered the formal voting process.
According to CoinDesk, STRC—Strategy’s dividend-paying preferred stock—recently fell below its $100 par value, sparking market discussion about the company’s capital structure and solvency. Key timeline events are reviewed below: May 14: STRC closed at $100 on the ex-dividend date; Bitcoin’s price remained above $80,000, yet market stress was already evident. Concurrently, Strive Asset Management announced its competing product, SATA, would adopt a daily dividend mechanism, raising its yield to 13%, further intensifying competitive pressure on STRC. May 15: Strategy announced it would repurchase $1.5 billion of its 2029 convertible bonds at an ~8% discount. The market subsequently noted that the company used its U.S. dollar cash reserves—previously earmarked for dividend and debt servicing—to execute this transaction. May 26: Strategy confirmed its cash reserves were deployed in the bond repurchase, reducing its cash balance to approximately $871 million—enough to cover only about six months of STRC dividend payments, down from its prior target of maintaining roughly 24 months of coverage. June 1: Strategy sold 32 BTC—the first Bitcoin sale since 2022—to demonstrate its ability to support dividend payments via asset sales. Following the announcement, MSTR’s stock price dropped 5.9%.
: The Algorand Foundation has released a quantum-resistant upgrade roadmap, planning to initiate a series of protocol upgrades in 2026 and achieve the network's overall "quantum security" capability by the end of 2027 to 2028, in response to the potential threat that future quantum computing poses to existing cryptographic systems. The roadmap shows that the first phase will introduce a post-quantum account system, multi-signature wallets, and staking support, followed by a gradual upgrade of core protocol components to achieve a comprehensive cryptographic migration from the wallet layer to the infrastructure. It is reported that multiple public blockchain ecosystems, including the Ethereum Foundation and Solana, have also initiated similar research into post-quantum cryptography and migration planning. (CoinDesk)
the U.S. Federal Reserve, the Treasury Department, and other financial regulatory agencies have jointly released the implementation draft of the "GENIUS Act," requiring stablecoin issuers to comply with the Bank Secrecy Act (BSA) and implement Customer Identification Programs (CIP).According to the draft requirements, stablecoin issuers must verify user identities, maintain records of identity information such as names and addresses, and screen against terrorist organization and sanctions lists. The relevant rules have now entered a 60-day public comment period, and will be formally implemented after the final rule is issued.Additionally, Federal Reserve Governor Michael Barr expressed reservations about this framework, believing it inadequately addresses the risks of illegal financing in secondary market transactions. The proposal specifically solicits comments on whether customer identification requirements should be further extended to secondary market transactions. (CoinDesk)
According to CoinDesk, the Malta Financial Services Authority (MFSA) has published a discussion paper exploring how decentralized finance (DeFi) can be incorporated into the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. The MFSA notes that while MiCA exempts “fully decentralized” crypto-asset services, many DeFi projects still retain centralized features—such as admin keys, centralized governance, and protocol upgrade privileges. The regulator is seeking public input on whether decentralization should be viewed as a “spectrum” rather than a binary concept, and whether a standardized framework should be established to determine whether a given protocol falls outside MiCA’s regulatory scope. Additionally, the paper proposes potential legal structures—including DAOs and cell companies—and examines automated compliance mechanisms such as custodial agents. Public consultation on this discussion paper closes on July 10.
According to CoinDesk, the Kentucky Attorney General has filed a lawsuit against prediction market platforms Kalshi and Polymarket, accusing them of offering illegal sports betting services without proper licensing in the state. The complaint also alleges that the relevant platforms and their partners failed to provide gambling addiction support resources as required by state law.
Odaily A new governance proposal called "Root Reborn" for the decentralized AI network Bittensor is drawing attention. Submitted by developer "unconst," the proposal is currently in the code review stage and has not yet been implemented on the mainnet.According to reports, the plan aims to restructure the TAO staking reward distribution mechanism, transforming validators from passive reward distribution nodes into capital allocators similar to "fund managers." Under the current mechanism, the system sells rewards owed to root-level stakers and automatically exchanges subnet tokens for TAO to pay out yields. This process is believed to create continuous selling pressure on various subnet token prices. The "Root Reborn" proposal suggests that validators could autonomously choose which subnets to support and reinvest the rewards that would otherwise be sold into these subnet assets, forming a compoundable asset portfolio. Stakers would still receive rewards and could exit at any time in TAO.The design of the proposal aims to convert persistent selling pressure into structural buying power, while also giving validators a more proactive screening role in capital allocation, thereby strengthening high-quality subnets and weakening low-quality projects.However, the proposal is still in the GitHub review phase. Early automated reviews have identified risks including large-scale data processing bottlenecks and potential impacts on staker settlements when subnets are shut down. The developer has stated that related issues have been fixed and that optimization will continue before mainnet deployment.According to market data, TAO has fallen approximately 28% over the past 12 months, while Bitcoin has dropped about 38% during the same period. The current annualized staking yield is approximately 17%. (CoinDesk)
According to CoinDesk, Ethereum core developers have entered the final development phase of the Glamsterdam upgrade and are currently running development networks (devnets) that incorporate all planned Ethereum Improvement Proposals (EIPs); once complete, the upgrade will advance to public testnets. Parithosh Jayanthi, a core developer at the Ethereum Foundation, stated that Glamsterdam “could be the largest fork upgrade since the Merge,” fundamentally altering many foundational assumptions of Ethereum and laying the groundwork for large-scale future scaling. It is expected to go live in the second half of 2026, though the exact date remains undetermined. Key components of this upgrade include: First, embedded Proposer-Builder Separation (ePBS, EIP-7732), which moves off-chain block building and proposing processes on-chain to reduce MEV-related manipulation risks and centralization concerns; Second, block-level access lists (EIP-7928), enabling blocks to pre-declare accounts and smart contract data they need to access, thereby improving block execution efficiency and predictability; Third, broad gas fee repricing—costs for high-compute operations will decrease while state storage costs will increase—to more accurately reflect resource consumption and ensure compatibility with zero-knowledge proof-based scaling solutions. Currently, the development team is focused on testing, finalizing specifications, and community communication.
according to the latest exchange report from CoinDesk, the total spot and derivatives trading volume on global centralized exchanges fell by 3.45% to $4.41 trillion in May 2026. Amid this overall decline in trading activity, Gate demonstrated strong resilience with a counter-trend growth. Its spot trading volume increased by 11.5% month-over-month to $43.8 billion, ranking first in spot trading volume growth among major global exchanges. Concurrently, its spot market share rose by 0.66 percentage points to 4.55%, securing a position within the top five global spot exchanges.In the derivatives market, Gate maintained its industry-leading position. Data shows that Gate's contract trading volume in May reached $327 billion, capturing a 9.47% market share, ranking it fourth among global derivatives exchanges. In terms of Open Interest, Gate held a 10.8% market share, making it the world's third-largest derivatives trading platform. Combining both spot and derivatives trading performance, Gate ranked fourth globally in total trading volume for May, highlighting the platform's sustained advantages in liquidity depth and market participation.To date, Gate's global registered users have surpassed 54 million, supporting over 4,700 trading pairs. Gate's stock trading feature allows users to trade over 10,000 US mainstream stocks and ETFs using USDT, and has already listed over 1,500 Hong Kong stock targets. Looking ahead, the platform will continue to expand its business layout into stocks, ETFs, prediction markets, and TradFi, offering global users a richer, one-stop trading and asset allocation experience.
According to CoinDesk, Aerodrome—the largest DEX in the Base ecosystem—plans to launch its Predictive Allocation mechanism in July, allocating incentives by forecasting future liquidity demand instead of relying on traditional historical-data-based models.
According to CoinDesk, Ripple is attempting to introduce XRP and its stablecoin, Ripple USD, into the AI agent payment market—currently dominated by the dollar-pegged stablecoin USD Coin—in order to penetrate the on-chain micropayment ecosystem. It has launched the “XRPL AI Starter Kit,” a toolkit for developers to build AI agent payment capabilities, enabling agents to perform payments, check balances, and conduct wallet operations on the XRP Ledger, and supporting automated payment workflows based on the x402 protocol. However, Ripple has not yet disclosed any large-scale, production-ready customers or real-world AI agent payment transaction data; the initiative remains in the early infrastructure and developer ecosystem exploration phase.