News linked to both this project and an event.
According to The Defiant, Paris-based startup Kulipa suddenly ceased operations due to solvency issues, causing the simultaneous disruption of card projects for approximately 20 crypto wallets and fintech companies it served. Self-custody wallet Ready (formerly Argent) and Solana wallet Solflare were both affected, with user card services immediately disabled. Since both wallets utilize a self-custody architecture, funds are deducted from user wallets only at the time of spending, so user assets remained unaffected. Notably, Kulipa completed a $6.2 million seed funding round co-led by Flourish Ventures and 1kx in April this year, only about 4 months prior to its collapse.
Odaily Reports, qinbafrank posted on the X platform stating that KorProtocol announced the completion of a $7.5 million Series A funding round, co-led by 1kx and Blockchain Capital, at a post-money valuation of $100 million. Other participants include Republic, Animoca, Solana, Avalanche, and others. Through its three core engines — Verify, Route, and Settle — KOR transforms creative assets into on-chain assets that are verifiable, matchable, and automatically settled. The Verify engine allows creators to register their works on-chain, recording provenance, ownership, and licensing terms. The Route engine uses data and AI to match creators, assets, labels, brands, platforms, and agencies. The Settle engine enables instant automatic revenue sharing via smart contracts and USDC on the Base chain, supporting complex split rules and recurring income. KOR currently has over 1 million registered users, more than $2 million in revenue, over 285,000 NFTs, and over 1,000 IP partners, and has collaborated with deadmau5 and "Black Mirror." Following the funding, KOR will continue to expand its IP supply, deepen partnerships, and advance network expansion.
tokenized sovereign debt startup M1X Global has completed a $5.5 million seed funding round, led by Paradigm, with participation from Breed VC and others.It is understood that M1X Global previously collaborated with the Republic of the Marshall Islands to assist in the issuance of the on-chain sovereign debt instrument USDM1. This product is a dollar-denominated tokenized sovereign debt instrument, 1:1 backed by U.S. Treasury bonds, and natively issued on a public blockchain by a sovereign nation. USDM1 was initially issued on Stellar and is now also available on Canton and Solana.Jordan Goldman, President and COO of M1X, stated that sovereign debt is one of the largest asset classes globally, but prior to USDM1, it did not exist in a native on-chain form. The company aims to establish USDM1 as on-chain sovereign collateral and expand its use within regulated financial markets.The initial application scenario for USDM1 is domestic government aid distribution. Citizens of the Marshall Islands can receive funds via the Lomalo wallet, with payments settling in seconds, bypassing the need for traditional correspondent banking networks. M1X also indicated that its recent integration with Bank of Guam, a U.S. FDIC-insured bank, further connects USDM1 to regulated banking infrastructure. (The Block)
Odaily reports: Blockchain data infrastructure startup Cambrian has secured $6 million in seed funding, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, Paper Ventures, Nomad Capital, and others.As previously reported by Odaily, Cambrian also received a $5.9 million pre-seed investment led by the a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million.Founded in 2024, Cambrian currently offers APIs for institutions and AI agents, providing real-time and historical on-chain data covering yield, risk, lending rates, trading activity, liquidity positions, and market sentiment, helping users allocate capital on-chain. The company plans to expand its existing APIs into a verifiable blockchain data oracle network, serving institutional financial clients, AI agent builders, and protocols that require reliable data to control capital flows. Unlike traditional oracles that primarily provide price data, Cambrian aims to aggregate data from lending protocols, DEX liquidity, social sentiment, developer activity, and historical market data.According to Cambrian, its platform has processed millions of API calls, currently indexes approximately $4.5 billion in TVL across four major lending protocols, tracks 1,789 vaults managed by 895 curators, and monitors over 320,000 DEX liquidity pools on Base and Solana. The company also plans to expand trading data support by integrating Hyperliquid and richer perpetual contract data.
According to Crypto in America, the National District Attorneys Association, the National Association of Assistant U.S. Attorneys, the International Association of Chiefs of Police, and the National Sheriffs’ Association jointly sent a letter to Acting Attorney General Todd Blanche and Patrick Witt, Executive Director of the White House Crypto Council, expressing strong opposition to Section 604 of the “Clarity Act”—the Blockchain Regulatory Certainty Act (BRCA). Law enforcement groups argue that this provision could create regulatory loopholes exploitable by criminals for illicit activities including drug trafficking, fraud, child exploitation, sanctions evasion, and terrorist financing. Meanwhile, cryptocurrency-backed candidates achieved sweeping victories in primary elections across Maryland, New York, and Utah. Fairshake—a pro-crypto super PAC—has collectively spent over $7.6 million supporting these candidates, including $5.5 million backing Adrian Boafo, the candidate for Maryland’s 5th congressional district. Miller Whitehouse-Levine, founder of the Solana Policy Institute, warned that August 7, 2026, may be the final window for Congress to pass cryptocurrency market structure legislation. He stated that the industry is willing to make limited revisions to the BRCA provisions to address law enforcement concerns—but firmly opposes any fundamental changes that would weaken the core protections enshrined in the provision. Additionally, the House Financial Services Committee held a hearing on “The Future of Payments” the same day.
RBCH, the largest external shareholder of Solana digital asset treasury company Solmate Infrastructure (SLMT), has filed a lawsuit in the New York State Supreme Court against the company's current executives and directors, accusing them of breach of fiduciary duty, misleading statements, and self-dealing.RBCH is associated with Viktor Fischer, founder and CEO of RockawayX, and currently holds approximately 22.74% of the shares in Solmate's parent company, Brera Holdings. The institution led Solmate's $300 million PIPE financing in September 2025 and committed $50 million.The lawsuit alleges that the Solmate board has engaged in multiple actions detrimental to shareholder interests, including selling shares while other investors were still in a lock-up period, signing advisory agreements favoring board-related parties, and directors Ron Sade and Keren Maimon personally purchasing approximately 2.298 million Class B shares at $4.97 per share, resulting in a roughly 20% dilution for shareholders. The plaintiff claims this transaction was illegal.Fischer stated that Solmate's performance has been severely poor, currently trading at approximately a 50% discount to its net asset value, attributing the problem to poor company management and board self-dealing. Solmate currently holds approximately 2 million SOL on its books, and its share price has fallen about 78% year-to-date, making it one of the worst-performing SOL DATs. In comparison, SOL has declined about 50% over the same period.
According to GlobeNewswire, Upexi, a Solana treasury company listed on Nasdaq, announced that it has entered into a securities purchase agreement to sell approximately 12.2423 million shares of common stock (or equivalent pre-funded warrants) at an offering price of approximately $1.60 per share via a private placement, raising a total of $19.5 million. The new funds will be used to repay existing debt and continue building its strategic SOL asset reserve.
Range, a stablecoin compliance startup, announced the completion of an $8.3 million Series A funding round, with participation from TX Ventures, SixThirty, Maven 11 Capital, Onigiri Capital, and others. The project's total funding to date has reached $11 million.Range provides a unified platform for companies operating both stablecoins and fiat currencies. Its core products include Unify, a real-time ledger system, and Protect, an on-chain transaction screening tool. Its clients include Circle, Solana Foundation, Stellar, Squads, and Jupiter, among others. The funds from this round will be used to expand the Unify and Protect products, grow the engineering and business development teams, and increase integrations and network coverage. (The Block)
Odaily reports, Nasdaq-listed Forward Industries has confirmed that it submitted a non-binding proposal to the board of directors of Helius Medical Technologies (HSDT), the parent company of Solana Company, for an all-stock business combination. The HSDT board voted on June 12 to reject the offer and stated that it would not engage in further discussions regarding the transaction.Forward Industries expressed that it is "disappointed and surprised" by this decision, adding that it believes initiating dialogue is in the best interests of both companies and their shareholders. The proposal is indicative in nature, with specific valuation, exchange ratio, and subsequent plans yet to be disclosed.
Solana infrastructure company Helius has announced the acquisition of Light Protocol, whose team will refocus on developing privacy solutions for Solana.Founded in 2021, Light Protocol initially focused on zero-knowledge proof-based privacy tools for Solana before pivoting to co-develop ZK Compression with Helius. Launched in 2024, this solution aims to reduce on-chain data storage costs on Solana via zero-knowledge proofs, supporting large-scale consumer and enterprise applications.This acquisition will drive Light back to its original mission, combining its cryptographic expertise with Helius' infrastructure and distribution advantages to develop ZK privacy protocols for Solana, covering scenarios such as private payments and private DeFi. Helius plans to open up relevant privacy infrastructure to developers in the coming months.The transaction occurs against a backdrop of accelerating consolidation in the crypto industry and tightening fundraising conditions, while also echoing a renewed demand for on-chain privacy. Helius founder Mert Mumtaz stated that privacy will be as fundamental to blockchain scaling as HTTPS was to the internet.
Forward Industries (@FWDind), the largest treasury company on Solana, has submitted a non-binding all-stock acquisition proposal to Brera Holdings PLC (SLMT) (@Solmate). Brera Holdings holds 2.1 million SOL. The offer valued SLMT at a 30.7% premium, but Brera rejected the proposal. (SolanaFloor)
Bitget Wallet has opened the first subscription for SpaceX’s tokenized IPO stock, SPCXx, with a total quota of $3 million. The minimum subscription amount is $10 per user, and the maximum per user is $5,000—on a first-come, first-served basis. SPCXx is issued by xStocks, a tokenized stock trading platform. The subscription price is $135, and underwriters will charge an additional 5% fee. Subscriptions open at 4:00 PM Beijing Time on June 9 and close at 4:00 PM Beijing Time on June 11. Upon completion of the subscription period, SPCXx tokens will be automatically sent to users’ wallets, with distribution expected to be finalized by 8:30 PM Beijing Time on June 12. This subscription requires no overseas brokerage or exchange accounts, VIP tier, or holding prerequisites. Users may pay directly using stablecoins—including USDT and USDC—on Base, Ethereum, BNB Chain, Solana, and TRON. The SpaceX tokenized IPO operates via xStocks—a collaboration between Bitget Wallet and Backed. The tokenized stocks issued are fully backed 1:1 by underlying assets held by Backed. Note that the $135 subscription price is not the final fixed issuance price; the final IPO price will be determined by the issuer and underwriters based on a comprehensive assessment of order book demand, market conditions, and valuation factors. During the subscription period, users typically see only a reference price.
According to the Central Bank of Russia’s “Financial Stability Review,” Russian private investors currently hold approximately 3.8 billion rubles in cryptocurrency-linked financial instruments—a figure nearly unchanged from 3.7 billion rubles six months earlier—indicating stagnation in market interest growth. Of this amount, 1.7 billion rubles flowed into crypto-linked corporate bonds; 5,600 investors collectively held cryptocurrency futures positions worth 1.7 billion rubles; and roughly 3,800 investors allocated 354 million rubles to digital financial assets pegged to Bitcoin and Ethereum. Major issuers include large banks such as Sber and VTB. Meanwhile, the Moscow Exchange has progressively launched Bitcoin and Ethereum futures, along with related ETFs, and will introduce Solana, Ripple, and TRON futures in May 2026.
Solana ecosystem Perp DEX project BULK has announced the launch of its Season 1 points program. Pre-deposits are now open, with 1 million AURA (points) distributed weekly until the exchange officially goes live.Previously, BULK announced the completion of an $8 million seed funding round, led by 6th Man Ventures and Robot Ventures, with participation from Big Brain Holdings, Wintermute, and Solana co-founder Anatoly Yakovenko, among others.
yesterday, YC official posted on X platform that the prediction market derivative layer Totalis has officially launched. The market allows users to conduct parlay trades on any subject, combining multiple event markets (such as politics, cryptocurrency, stocks, sports, weather, and macro) into a single trade. Starting with parlay bets, it will expand to structured products.Previously, Totalis completed a $500,000 seed round in April, with Y Combinator participating. It is also the first enterprise to receive Y Combinator investment entirely in USDC, with the funds settled via the Solana network and custodied by Ramp.
Hyperliquid has recently significantly outperformed the broader market. Its token, HYPE, hit an all-time high following the launch of two related ETFs in the United States. Meanwhile, European traders are accelerating their migration to the platform due to restricted access to perpetual contracts on regulated exchanges. Market analyst Michael van de Poppe stated that with Hyperliquid's continued rally and renewed interest in AI-related crypto projects, signs of improving risk appetite are emerging in the altcoin market. Hyperliquid’s expansion into tokenized stocks, commodities, and pre-IPO assets is strengthening the on-chain asset tokenization trend. He suggested that if market sentiment continues to improve, HYPE’s price could target $100 or even higher.However, Michael van de Poppe also stressed that while Hyperliquid holds a short-term advantage, Solana offers greater long-term investment certainty, transitioning from a "speculative ecosystem" to institutional-grade infrastructure. In the AI track, he noted that NEAR Protocol and Bittensor remain significantly undervalued, citing a disconnect between their fundamental growth and valuations. He pointed out that NEAR’s revenue growth potential and Bittensor’s subnet expansion could support higher valuation ranges. Additionally, he indicated that the privacy sector retains long-term demand, but fully anonymous systems face regulatory pressure. The future is more likely to be dominated by zero-knowledge proofs and compliant privacy solutions.On the macro level, Michael van de Poppe highlighted that bond yields and central bank policies remain the core drivers of the crypto market, with changes in Japanese government bond yields potentially serving as a key barometer. (CoinDesk)
According to Businesswire, Solmate Infrastructure, a Solana treasury company listed on Nasdaq, announced the issuance of a total of 2,298,000 shares of Class B common stock via a registered direct offering. The offering price is $4.97 per share, raising approximately $11.4 million in gross proceeds. The transaction is expected to close around May 27, 2026, subject to customary closing conditions.
Bitget Wallet has announced the completion of its RWA trading upgrade and integrated xStocks as a new source of tokenized stocks, providing users with global tokenized stock trading capabilities. From May 19 to June 14 (Beijing time), Bitget Wallet users who complete tiered trading tasks can receive up to $264 in rewards, with a total prize pool of $100,000. Additionally, users who hold, add liquidity to, or participate in the lending market for any xStocks token will receive a 20% exclusive xPoints bonus.Through this upgrade, users can now trade over 300 types of RWA tokens across Ethereum, Solana, and BNB Chain, covering various assets such as US stocks, ETFs, oil, precious metals, and country indices. The service supports 24/7 trading, low transaction fees, and gas-free execution, with trading starting from $0 and no minimum threshold requirement. Currently, Bitget Wallet supports a dual RFQ + AMM trading mechanism, enabling instant execution and effectively reducing spread slippage. It has also integrated AI market signals to assist in trading decisions.xStocks is developed in collaboration between Kraken and Backed. Its tokenized stock products adopt a 1:1 full collateral mechanism with underlying assets. Since its launch in June 2025, the platform has processed a cumulative trading volume exceeding $30 billion. This integration will further advance Bitget Wallet's "Everyday Finance, Onchain" strategy, aiming to enable users to conduct daily trading of traditional financial assets through on-chain wallets, breaking down the geographical and entry barriers imposed by traditional financial infrastructure.
TownSquare, an infrastructure platform focused on institutional yield and cross-chain lending brokerage services, has announced a $100 million USD1 token liquidity program—a strategic initiative designed to bring institutional-grade and cross-chain yield opportunities to a broader user base via World Liberty Financial’s USD1 stablecoin and institutional yield strategies. Previously, TownSquare collaborated with the World Liberty Financial DeFi team to integrate the USD1 token onto Monad, a high-performance EVM-compatible chain, and received official incentives from the Monad Foundation. The team stated that this new liquidity program marks TownSquare’s continued commitment to expanding DeFi’s real-world applicability and delivering institutional strategy yields to more assets. Currently, the project’s official website has launched its cross-chain lending functionality, while its yield vault product is listed as “Coming Soon.” According to official information, the project has previously completed a funding round backed by Monad, a16z, Aptos, Solana Bonk, and other U.S. and European angel investors and VCs. The founding team includes alumni from Coinbase, Meta, Accenture, and market-making firms. Details about the project’s next funding round have not yet been disclosed.
Odaily Odaily News Gate Research recently released its "April 2026 Cryptocurrency Market Review" report, indicating that the overall cryptocurrency market saw a volatile upward trend in April, with total market capitalization significantly higher than in March. BTC and ETH ETF trading volumes maintained high volatility overall. The report shows continued divergence in activity across major public chain ecosystems. Solana's daily transaction volume remained in the range of approximately 90 million to 110 million transactions, maintaining its leading position.Regarding trending sectors, the report notes that Pokemon TCG RWA has become one of the fastest-growing on-chain RWA sub-sectors, entering a second explosive growth phase in April. Major trading platforms saw monthly trading volumes exceed $220 million, with weekly revenue briefly approaching $6 million, setting new historical records. Meanwhile, Aave experienced its most severe liquidity crisis ever in April, with TVL outflows reaching tens of billions of dollars within a few days and net outflows exceeding $9 billion for the entire month.In terms of fundraising and security incidents, the Web3 industry completed 51 financing rounds in April, totaling approximately $834 million, with capital further concentrating on leading financial and infrastructure tracks. Among these, Payward ranked first for the month with a $200 million financing round. On the security front, Web3 security incidents in April resulted in losses of approximately $306 million, a month-over-month increase of about 858%, primarily driven by a single cross-chain infrastructure attack on Kelp DAO worth approximately $293 million. The report suggests that against the backdrop of a recovering market, on-chain activity and capital liquidity are both increasing simultaneously. However, the security risks associated with cross-chain infrastructure and high-leverage protocols remain worthy of continued attention.