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Regulatory/Macro

FalconX and Standard Chartered Bank reach cooperation to focus on institutional crypto investor services

According to CoinDesk, Standard Chartered Bank announced a partnership with digital asset broker FalconX to provide institutional investors with more convenient cryptocurrency services. FalconX will leverage Standard Chartered's banking infrastructure and foreign exchange capabilities to first operate in Singapore, and then expand to other parts of Asia, the Middle East and the United States. This cooperation is the first time FalconX has established a partnership with a traditional global bank. Matt Long, general manager of FalconX Asia Pacific and the Middle East, said that this will enhance its ability to "provide robust banking and foreign exchange solutions to crypto market clients." Standard Chartered Bank has actively deployed in the crypto field in recent years, including launching custody services in the UAE and establishing a digital asset subsidiary in the European Union.

Tiger Brokers (Hong Kong) launches cryptocurrency deposit and withdrawal service, supporting mainstream cryptocurrencies such as BTC and ETH

According to the Economic Times, Tiger Brokers (Hong Kong) has launched a cryptocurrency deposit and withdrawal service that supports virtual currency deposits, transactions and withdrawals. The mainstream virtual currencies supported include Bitcoin (BTC), Ethereum (ETH) and other mainstream cryptocurrencies. The platform is also a virtual asset trading service app licensed by the Hong Kong Securities Regulatory Commission. Tiger Brokers has also launched a promotion. From 12:00 noon on May 14, 2025, anyone who successfully deposits cryptocurrency into a Tiger Trade account for the first time and reaches 0.01 Bitcoin (BTC) or 0.5 Ethereum (ETH), and maintains a net asset of not less than 0.01 BTC or 0.5 ETH for 60 consecutive days, will receive a Coinbase (US.COIN) stock reward worth HK$200.

Federal Reserve warns stablecoins could pose risks to bank deposits and credit capacity

According to the minutes of the April 10 meeting disclosed recently, members of the Federal Reserve's Community Depository Institutions Advisory Committee (CDIAC) expressed concerns about stablecoins issued by non-bank institutions. The committee believes that such stablecoins may accelerate the outflow of bank deposits and weaken the ability of community banks to provide loans to small and medium-sized enterprises and households. The committee compared stablecoins to the impact of money market funds on the banking industry in the late 20th century, pointing out that they are similar to central bank digital currencies (CBDCs) and may divert the deposit base of the banking system. It particularly emphasized that stablecoins are not subject to the same liquidity regulatory requirements at present, which may cause banks to reduce the scale of credit, especially affecting small borrowers who rely on local bank services. The committee recommends that stablecoins be included in the financial stability regulatory framework, requiring unified standards for banks and non-bank issuers to prevent regulatory arbitrage. This position echoes the statement made by Federal Reserve Chairman Powell on April 16 - although he acknowledged the broad appeal of stablecoins, he emphasized the need to establish an appropriate regulatory system.

Gibraltar to establish crypto derivatives clearing and settlement rules to enhance market integrity

According to CoinDesk, the Gibraltar government said it plans to develop the world's first cryptocurrency derivatives clearing and settlement rules, building a regulatory framework to enhance market integrity and reduce major risks. Over the past six months, the Gibraltar government has worked with the Gibraltar Financial Services Commission (GFSC) and the cryptocurrency exchange Bullish to build a framework that adapts traditional financial clearing regulations to the virtual asset market. Bullish said on Tuesday that the framework will allow recognized clearing houses to clear and settle virtual asset derivatives contracts; many virtual asset exchanges have been performing this function, but in the absence of regulatory supervision, problems may arise in the clearing process. The proposed system will allow the establishment of independent clearing houses, which will have "higher transparency and capital adequacy."

DeFi Development Corp. spent $23.6 million to increase its SOL holdings, bringing its total holdings to 595,988

According to Bitcoin.com, Nasdaq-listed DeFi Development Corp (formerly real estate software company Janover) announced that it had purchased 172,670 SOL tokens at an average price of $136.81 per token, for a total of approximately $23.6 million. This is the company's largest SOL token acquisition to date and the tenth purchase under its digital asset treasury strategy. After the completion of this transaction, the company currently holds a total of 595,988 SOL, including staking rewards, worth approximately $102.7 million. The newly purchased SOL will be held for a long time and pledged to multiple verification nodes, including the company's own SOL verification nodes, to generate income. The plan continues to update the dynamics of its treasury and investment strategy through public statements and regulatory documents.

Viewpoint

Analysis: Bitcoin's recent rise may be led by institutions, and retail investors have not entered the market

According to the latest analysis by Matrixport, the recent price of Bitcoin is approaching its historical high, but the overall trading volume is still sluggish, especially in the Korean market where retail investors are more active, and the current trading volume is still at a relatively low level. This indicates that the current rise may be mainly driven by institutional and corporate buyers, while retail investors have not yet entered the market significantly. Looking back at historical trends, retail funds often enter the market in a concentrated manner in the late stage of the market, becoming the last push before the local top, such as the market in February and November 2022. If history repeats itself, retail investors may enter the market in a concentrated manner before the next round of highs.

Trump: Stock market will rise sharply

U.S. President Trump said in a speech at the "U.S.-Saudi Investment Forum" that the stock market will rise sharply.

Former U.S. Congressman: Former SEC Chairman Gary Gensler is not as anti-cryptocurrency in private as he is in public

Patrick McHenry, former chairman of the U.S. House Financial Services Committee, revealed that former U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler is not as anti-cryptocurrency in private as he appears in public. McHenry said: "I think it has more to do with Senate politics and political considerations in the confirmation process."

Project News

Users with 198 Binance Alpha points can participate in the Privasea TGE event, which costs 15 points

Binance Wallet announced that users must meet certain Alpha points requirements to participate in the Privasea AI exclusive TGE event. Specific conditions include: having 198 or more Alpha points, or points between 162 and 197 and a Binance UID ending with the number 0. Eligible users must confirm their participation on the Alpha Events page, and 15 points will be deducted. According to previous news, Binance Wallet will launch the 16th TGE project: Privasea (PRAI) on May 14.

Bluefin (BLUE) listed on Binance Alpha

According to the official platform, Binance Alpha has launched Bluefin (BLUE).

Binance Alpha and Binance Futures to List NEXPACE (NXPC)

According to the official announcement, Binance Alpha will launch and open trading of NEXPACE (NXPC) at 14:00 (ET) on May 15, 2025. In addition, Binance Futures will launch NXPCUSDT perpetual contracts at 14:30 (ET) on May 15, 2025, with a maximum leverage of 50x. As a launch benefit, all eligible Binance users will receive Binance exclusive token airdrops. Eligible users need to use Binance Alpha points to claim the airdrop through the Binance Alpha event page between 14:00 (ET) on May 15, 2025 and 13:59 (ET) on May 16, 2025. Users can access the Binance Alpha event page through the search function of the Binance App.

Synthetix community proposes to acquire decentralized options platform Derive at a valuation of $27 million

According to the official blog, the community of the synthetic asset protocol Synthetix proposed to acquire the decentralized options platform Derive at a valuation of US$27 million. According to the SIP-415 proposal, the transaction will exchange DRV and SNX tokens at a ratio of 27:1, and Synthetix will issue 29.3 million SNX tokens (3 months of lock-up + 9 months of linear release) to complete the acquisition. The transaction is subject to approval by the Spartan Council of Synthetix and the governance body of Derive. The acquisition will enable Synthetix to integrate Derive's order book perpetual contract trading technology and development team, and accelerate the construction of the Ethereum mainnet derivatives protocol. The Derive team's experience in modular order book design and option mechanisms will directly enhance Synthetix's core competitiveness. Its developed App-chain technology stack can be deployed to the mainnet immediately. Derive was formerly known as Lyra and was once a Synthetix ecological project. This acquisition is the third ecological integration action of Synthetix in the past six months after the recovery of Kwenta and TLX. Founder Kain Warwick said this will simplify the protocol architecture and governance and promote the development of derivatives platforms. If the transaction is approved, Derive's treasury assets, intellectual property rights and governance systems will all be incorporated into the Synthetix protocol.

Arbitrum invests $10 million in blockchain gaming projects, five projects have been funded

According to NFT Plazas, Ethereum Layer2 network Arbitrum announced that it will invest $10 million in blockchain game projects through the newly established venture capital program Arbitrum Gaming Ventures. This fund is part of the $200 million plan funded by Arbitrum DAO, focusing on supporting the construction of early projects within the Arbitrum ecosystem. This is the first major fund under the plan, and venture capital firms Paradigm, Framework Ventures and BITKRAFT are also involved. Five projects have been funded, covering game development and infrastructure, including the multiplayer competitive game Wildcard, the game-specific Rollup solution Hyve Labs, the Layer3 game chain Xai based on Arbitrum Orbit, the chain game studio Proof of Play, and the consumer blockchain-focused infrastructure T-Rex.

Upbit to List NXPC in KRW, BTC, and USDT Markets

PANews reported on May 14 that according to an official announcement, South Korean cryptocurrency exchange Upbit will launch NXPC in the Korean won, BTC, and USDT markets, and trading will begin at a later date.

Pudgy Penguin CEO: Abstract Chain's TGE is expected to be held in Q4

Pudgy Penguins CEO Luca Netz revealed in an interview that the token generation event (TGE) of Ethereum Layer2 network Abstract Chain is expected to take place in the fourth quarter of 2025.

Circle Announces Native USDC Now Available on Sonic Chain

According to official news, Circle announced that native USDC is now available on the Sonic chain, completing the transition from bridged USDC to native USDC. Before the upgrade, the supply of bridged USDC on Sonic reached 500 million. After the upgrade, CCTP V2 was launched and Hooks were introduced to support automated operations.

Coinbase announces launch of cbADA, cbDOGE, cbLTC, cbXRP

According to official news, Coinbase announced that it will soon launch cbADA, cbDOGE, cbLTC, and cbXRP. They are not yet online or available, and will be officially launched at a later date. cbADA, cbDOGE, cbLTC, and cbXRP are Coinbase's bridged tokens, corresponding to the wrapped versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP), respectively. They are designed for Coinbase's Ethereum Layer2 network Base, and cbBTC has been launched before.

Important data

Sentora: $1.2 billion of ETH was withdrawn from CEX in the past 7 days, and the seller pressure has decreased

According to Sentora, a total of $1.2 billion worth of Ethereum has been withdrawn from centralized exchanges in the past 7 days. This continuous net outflow trend has been intensifying since the beginning of May, indicating that the accumulation of Ethereum in the market is increasing, while the seller pressure is decreasing.

39,368 ETH transferred from Binance to unknown wallet, about $104.4 million

According to Whale Alert, 39,368 Ethereum (about US$104.4 million) was transferred from Binance to an unknown wallet at 15:40.

The LAUNCHCOIN that a trader bought for $9,075 a month ago is now worth $4.7 million

According to Lookonchain monitoring, a trader turned $9,075 into $4.7 million by trading LAUNCHCOIN, with a return rate of 515 times. A month ago, he spent $9,075 to buy 20.3 million LAUNCHCOIN, and now these tokens are worth $4.7 million.

A whale deposited another 11.9 million USDC into HyperLiquid, increasing its short positions on BTC, ETH, and SOL

According to Onchain Lens, a whale once again deposited 11.9 million USDC into HyperLiquid, increasing its short positions on BTC, ETH, and SOL with 5x leverage. The total deposit amount has reached 62.4 million USDC. Currently, the total value of all short positions has exceeded $250 million, turning from a profit of $6.8 million yesterday to a loss of $7.6 million today.

Abraxas Capital's ETH holdings in the past week have reached $561 million

According to Lookonchain, Abraxas Capital borrowed USDT to buy more Ethereum. As of yesterday's monitoring, the price of Ethereum was $2,460, and now it has exceeded $2,700 - an increase of about 10%. In the past week, Abraxas Capital has purchased 242,652 ETH (worth $561 million).

Financing

Antix Completes $8.2 Million Private Funding, Plans to Put AI Digital Humans on the Blockchain

Antix, a platform focusing on hyper-realistic AI digital humans, announced the completion of a private financing of US$8.2 million, with the support of more than 10,000 community investors, and plans to introduce hyper-realistic AI digital humans to the blockchain. It is reported that Antix has launched a tokenized digital human and identity economy to protect and monetize digital content IP. Its AIGE engine can create emotionally rich digital humans from images and cast them into NFTs. The core functions of the platform are driven by $ANTIX tokens, and a beta version is planned to be launched in the summer of 2025.

Blockchain firm Gnosis acquires Singapore-based HQ.xyz for $14.95 million

According to Techinasia, Gnosis has acquired Singapore's on-chain financial operations platform HQ.xyz for $14.95 million. The investment includes $8.95 million from the GnosisDAO treasury, which was approved by a DAO vote in January 2025, and $6 million from Gnosis Ltd. for operating expenses over the next two years. The acquisition is one of the largest investments in the Gnosis ecosystem. HQ.xyz will be renamed Gnosis HQ and integrated into the Gnosis ecosystem, which includes Gnosis Chain, Gnosis Pay, and associated projects such as Safe and CoW Swap.

eToro and its backers raise $620 million in upsized IPO

Israeli social investment platform eToro Group Ltd. and some shareholders raised nearly $620 million in an expanded U.S. initial public offering (IPO) priced above the previously advertised range, according to Bloomberg. The company and investors sold 11.92 million shares at $52 per share, according to a statement on Tuesday. Earlier documents showed that funds and accounts managed by BlackRock were interested in purchasing up to $100 million worth of eToro shares at the IPO price. Based on the number of shares outstanding, this price gives eToro a market value of approximately $4.3 billion, and a fully diluted valuation of nearly $5 billion. eToro originally planned to advertise the issuance of 10 million shares at a price of $46 to $50 per share, but the actual price was higher and the demand was several times the number of shares that could be issued. The statement also said that eToro provided 5.96 million shares, and affiliates such as Spark Capital and executives provided another 5.96 million shares, and reserved up to 500,000 shares for sale through a private placement plan. IPO documents show that the company's net contribution in 2024 will be $787 million and its net profit will be $192 million, higher than the previous year. The IPO is led by Goldman Sachs and others, and eToro's stock is expected to be listed on the Nasdaq Global Select Market under the ticker ETOR. According to previous news, eToro's goal is to achieve a valuation of $4 billion and $500 million in financing through the US IPO.

Coinbase invests in Canadian stablecoin issuer Stablecorp

According to Cointelegraph, Lucas Matheson, CEO of the Canadian branch of the crypto exchange Coinbase, revealed during the Blockchain Futurist Conference in Toronto that Coinbase has reached a cooperation with Canadian stablecoin issuer Stablecorp to expand access to tokenized Canadian dollars. Matheson said: "The exchange is investing an undisclosed amount in Stablecorp and will help promote its fiat-collateralized stablecoin QCAD." Matheson emphasized that Canada urgently needs a local stablecoin solution because the country lacks peer-to-peer payment infrastructure, and traditional wire transfers cost up to 45 Canadian dollars and take 45 minutes to process. He said: "Stablecoins can achieve 24/7 instant cross-border payments, which is a function that existing technology can achieve."

SpaceComputer Completes Pre-Seed Round Led by Primitive Ventures to Build Space Encryption System

SpaceComputer announced the completion of a Pre-Seed round of financing led by Primitive Ventures, with participation from Nascent, Tangent, Symbolic Capital, Public Works, Merkle Ventures and Star-Shield, and angel investors including Loi Luu, Sandeep Nailwal and Meltem Demirors. SpaceComputer is using satellites to build encryption systems that are resistant to physical damage and cyber attacks, and has launched its first product, ctRNG, which uses space entropy to generate true random numbers.

Perpl received $9.25 million in financing led by Dragonfly and will build a perpetual DEX based on Monad

Perpl, a decentralized perpetual contract exchange, has completed a $9.25 million financing led by Dragonfly, with participation from Ergonia, Brevan Howard, Breed, L1D and CMS. Perpl plans to develop an on-chain central limit order book based on the Monad architecture. The test network is expected to be launched at the end of the year, and the main network will depend on the progress of the Monad main network. The project was established by American co-founders and moved to London due to regulatory issues.

A whale transferred ETH and cbBTC to FalconX and Coinbase, possibly for sale and loan repayment.

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