ey

JPMorgan Chase will launch its second tokenized money market fund based on Ethereum, named OnChain Liquidity-Token Money Market Fund, with the code JLTXX. The fund will primarily invest in U.S. Treasury securities, as well as overnight repurchase agreements collateralized by U.S. Treasury securities or cash, aiming to meet the qualified reserve asset requirements that stablecoin issuers need to maintain under the GENIUS Act.JPMorgan Chase stated that the blockchain technology for the fund will be managed by its subsidiary Kinexys Digital Assets. Currently, Ethereum is the only on-chain network available to investors, and future expansion to other blockchains is not ruled out. This is also JPMorgan Chase's second tokenized money market fund on Ethereum following the launch of MONY last year. Compared to MONY, which is more focused on institutional on-chain cash management, JLTXX is more directly aimed at the stablecoin reserve asset scenario.

The cryptocurrency research institution Delphi Digital released the latest report "How Far Can Saylor Stretch It," which systematically analyzes the Bitcoin (BTC) funding expansion mechanism of Strategy, pointing out that its financing structure is transitioning from "low-cost accumulation" to the "diminishing marginal efficiency" stage. The report shows that in the current asset accumulation system centered around Bitcoin, STRC has become the core financing tool for Strategy's continuous purchase of BTC. Initially, it relied on a significant premium in MSTR's stock price (mNAV far exceeding BTC's net value) to achieve a positive cycle of "issuance leads to accumulation," but as the valuation has fallen back to about 1.24 times the EV-based mNAV, the BTC per share enhancement effect from common stock issuance is nearing breakeven.At the same time, while convertible bond tools have played an important role historically, they have accumulated about $8.2 billion in principal and will face concentrated repayment pressure after September 2027, putting long-term sustainability of the financing structure under pressure. STRC provides a continuous financing source for Strategy by offering approximately 11.5% annualized monthly dividends to income-oriented investors, to maintain the pace of BTC purchases. However, this mechanism also introduces ongoing cash flow obligations, meaning that each round of financing increases BTC assets while simultaneously accumulating future dividend burdens.The report emphasizes key risk scenarios: if BTC prices remain stagnant and MSTR's premium fails to recover, then the "STRC financing purchase gain" may be gradually offset by "common stock dilution and dividend obligations." Although the company's approximately $2.25 billion cash reserves can cover about $1 billion in redemption pressure in 2027, larger-scale debt and dividend structures in 2028 still need to be addressed. Additionally, the current authorized issuance limit of about $28.3 billion for STRC becomes a critical constraint point. Once the limit is reached, the ability to purchase new BTC may slow down, but existing dividend obligations will continue to exist, thus altering the overall BTC per share dynamic growth path.

According to the official Stellar blog, the Stellar Development Foundation and the Bermuda government announced that Bermuda will migrate key payment and financial service activities to the Stellar network to advance its plan to build the world's first fully on-chain national economy. Local residents will be able to receive salaries, pay merchants and government fees, and hold and transfer digital assets through a Stellar-based digital wallet. Bermuda government agencies plan to pilot payments based on stablecoins, and financial institutions will have access to tokenized tools, with related assets also usable for government payment scenarios such as social welfare distribution. Officials stated that this move is expected to reduce the current card transaction fees for local merchants, which can be as high as 3% to 5% or even 10%, improve payment efficiency, and strengthen digital financial infrastructure.

According to Gate market data, at the opening of the US stock market, the Dow Jones Industrial Average fell by 0.03%, the S&P 500 index fell by 0.32%, and the Nasdaq Composite Index fell by 0.71%. Star tech stocks generally declined, with Intel (INTC.O) down more than 4%, Qualcomm (QCOM.O) down nearly 4%, and ASML (ASML.O) and Micron Technology (MU.O) both down by 2.5%.

The Stellar Development Foundation and the Government of Bermuda jointly announced that Bermuda will migrate key payment and financial services to the Stellar network, officially advancing the construction of a "fully on-chain national economy."The plan relies on Bermuda's 2018 Digital Asset Business Act regulatory framework, aiming to significantly reduce local merchants' payment processing costs from 3% - 5% or even higher.According to the plan, Bermuda residents will be able to receive salaries, merchant payments, pay government fees, and hold digital assets through digital wallets on the Stellar network in the future.The government will pilot stablecoin payments, and financial institutions will have access to tokenized tools, with related assets also being used for government payment scenarios such as social service disbursements.

On-chain detective ZachXBT exposed American threat actor Dritan Kapllani Jr, claiming he is suspected of participating in a social engineering theft targeting crypto users, totaling approximately $19 million. ZachXBT stated that Dritan has long flaunted luxury cars, high-end watches, private jets, and nightlife on social media. On April 23, 2026, during a "Band 4 Band (B4B)" voice chat on Discord, he publicly displayed an Exodus wallet containing $3.68 million in assets to prove he was wealthier than another hacker.The relevant ETH address is: 0x4487db847db2fc99372a985743a26f46e0b2bba6. ZachXBT tracked and found that this address is linked to a social engineering theft case involving 185 BTC (approximately $13 million) on March 14, 2026. The next day, Dritan's Exodus wallet received about $5.3 million of those funds. By the time of the B4B call six weeks later, about $1.6 million had been spent or laundered.On May 11, the U.S. Justice Department unsealed a criminal indictment against Trenton Johnson, who is accused of participating in the aforementioned 185 BTC theft case and could face up to 40 years in prison. "Coconspirator 1" in the indictment is alleged to be Dritan, who has not yet been formally charged. ZachXBT also pointed out that Dritan is connected to hacker John Daghita (Lick), who was previously arrested for stealing $46 million from the U.S. government, and John had exposed Dritan's old wallet address on Telegram.On-chain analysis shows that this address is related to multiple high-confidence social engineering theft cases in 2025, with a total amount involved exceeding $5.85 million. ZachXBT stated that Dritan has been active in "The Com" hacker circle for a long time and had previously not faced formal charges due to his minor status. He is now over 18 years old, and "the borrowed time may finally be over."

According to CoinDesk, the cryptocurrency market has temporarily stalled before the release of the U.S. April CPI data. Bitcoin has recently been oscillating in the range of $80,000 to $82,000, failing to effectively break through since last Wednesday.The market believes that although capital flows still indicate a potential for a subsequent breakthrough, inflation and macro risks are suppressing risk appetite. The U.S. will release the April Consumer Price Index (CPI) at 8:30 PM Beijing time tonight. FactSet data shows that the market expects the April CPI to rise year-on-year to 3.7%, up from 3.3% in March. If the forecast is realized, it will mark the largest increase since January 2024 and is significantly higher than the average of 2.7% over the past 12 months. The core CPI is expected to rise year-on-year to 2.7%, up from the previous value of 2.6%.Analysts are concerned that if the inflation data exceeds expectations against the backdrop of high oil prices and Trump's statement that the U.S.-Iran ceasefire is "extremely fragile," it may further trigger market risk aversion, dragging down the performance of risk assets.Lukman Otunuga, head of market research at FXTM, stated that the current market is entering a sensitive phase where geopolitical issues, inflation risks, and central bank expectations are intertwined. High oil prices, uncertainty regarding the situation in Iran, and key U.S. economic data may lead to increased volatility in commodities, exchange rates, and global stock markets.In addition to macro factors, XRP and SOL are also approaching key supply zones again. XRP tested $1.50 today but has failed to break through this level multiple times since February of this year; SOL is once again nearing the resistance level around $97.Meanwhile, institutional interest in related assets is heating up. The U.S. spot XRP ETF recorded a net inflow of $25.8 million on Monday, reaching a new high since January 5; Bitcoin and Solana ETFs also maintained net inflows, while the Ethereum ETF saw a net outflow of $16.9 million.

The U.S. Senate Banking Committee has released the first updated complete draft of the CLARITY Act since January of this year. The new draft has made significant adjustments in several key chapters.These include: a major rewrite of Chapter 1 concerning definitions, the authority of the U.S. Securities and Exchange Commission (SEC), and other content; the addition of insider trading provisions in Section 109; updating "joint control" to "coordinated control" in Chapter 2; rewriting Section 301 to further clarify the regulatory boundaries between DeFi and CeFi; updating Section 404 to incorporate the compromise proposal from Tillis and Alsobrooks; adjusting Section 505 to narrow the scope of SEC's authority limitations in the tokenization field; and restructuring the bankruptcy and insolvency framework in Sections 701 and 702. Additionally, Section 904 is a new addition, titled the "Build Now Act."Alex Thorn also pointed out that the protective provisions for developers in the Blockchain Regulatory Certainty Act in Section 604 remain largely intact, with only minor modifications that do not weaken its core protective content.

According to Jinshi News, Matt Hornbach, the global macro strategy chief at Morgan Stanley, stated that the U.S. inflation data for April is expected to be quite "hot," which will be the first in a series of data this week and will ultimately constitute the core PCE price index that the Federal Reserve is most concerned about.Hornbach pointed out that companies may not necessarily pass on inflationary pressures to consumers, and currently, companies are facing pressures such as rising energy costs and the costs of building AI infrastructure. Therefore, the bank still predicts that the Federal Reserve will maintain interest rates unchanged this year.

According to the blockchain security organization SlowMist (@SlowMist_Team), a highly complex npm worm named "Mini Shai-Hulud" is spreading through well-known developer projects such as TanStack, UiPath, and DraftLab, as monitored by their threat monitoring system MistEye. Attackers hijack GitHub credentials to publish malicious packages disguised as legitimate updates, embedding a hidden script router_init.js that runs silently in CI/CD environments like GitHub Actions, specifically designed to steal CI/CD keys, cloud infrastructure keys, and cryptocurrency wallet information, using GitHub's own infrastructure for data exfiltration.SlowMist has synchronized relevant threat intelligence (IOC) with clients and recommends that projects using the affected packages immediately check their CI/CD pipelines for the presence of the router_init.js file, rotate all exposed GitHub, cloud service, and cryptocurrency credentials, and continuously monitor for abnormal background activities in the development environment.

ZachXBT posted on platform X, revealing that crypto KOL and former Fortnite professional player Yelo has been charged with money laundering for threat actors through his luxury car rental business in Miami, facing up to 30 years in prison.

According to GoPlus, there have been two new public key leakage incidents in the past 36 hours, with a total loss of $238,000. Among them, 0xUnihax0r lost $200,000, and he had previously uploaded a trading bot and Telegram; the stolen address of @Eli5defi is linked to a previous large-scale private key leakage incident involving 574 addresses. GoPlus suggests that, in light of such centralized large-scale private key leaks, it is advisable to immediately check for risks according to the private key leakage self-inspection checklist.

According to a post by Galaxy Digital on Sunday, seven Democratic senators on the Senate Banking Committee may be the key force behind the passage of the Digital Asset Market Clarification Act (CLARITY Act), which is scheduled for committee review on Thursday.Galaxy identified Ruben Gallego and Angela Alsobrooks as constructive/supportive; Mark Warner, Catherine Cortez Masto, Andy Kim, and Raphael Warnock were listed as conditional facilitators, having voted in favor of the GENIUS Act but calling for strengthened safeguards such as anti-money laundering measures; Lisa Blunt Rochester was marked as having an uncertain stance, having supported the crypto framework but voting against the GENIUS Act.Galaxy stated that if Democrats vote in support during the review, the likelihood of the bill passing in the full Senate would significantly increase. The bill needs the support of at least half of the 24 members of the Banking Committee to proceed to a full Senate vote. Coinbase's Vice President of U.S. Policy, Kara Calvert, pointed out that the bill requires at least 60 votes and bipartisan support to become law in the Senate. The CLARITY Act was proposed in July 2025 and was stalled earlier this year when Coinbase withdrew its support.

According to The Block, Morgan Stanley Bitcoin Trust (MSBT) has accumulated a net inflow of $193.6 million from its launch on April 8 to May 7, with net assets reaching $239.6 million. In its first month, it recorded net inflows on 17 trading days and remained flat on 5 trading days, with no single day of net outflow.Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, stated that MSBT had a net inflow of $30.6 million on its first day, with a trading volume of approximately $34 million, marking the strongest ETF debut in the bank's history; nearly all the funds came from self-managed clients and have not yet entered the advisory wealth management platform.

According to The Block, Morgan Stanley's Bitcoin ETF (MSBT) did not experience any net outflows in its first month of listing, with a cumulative net inflow of $193.6 million, and as of May 7, its net assets reached $239.6 million.The fund was launched on April 8, with a net inflow of $30.6 million on its first day and a trading volume of approximately $34 million, described by Morgan Stanley's head of digital asset strategy as the bank's most successful ETF debut in history. During the first month of trading, MSBT's daily net inflows gradually decreased from tens of millions to millions but never turned negative, while the overall market for spot Bitcoin ETFs saw a net inflow of $663.9 million on April 17, followed by net outflows of $277.5 million and $145.7 million on May 7 and 8, respectively. MSBT has a management fee of 0.14%, the lowest among U.S. spot Bitcoin ETFs. Almost all of the fund's capital in the first month came from self-directed trading clients and has not yet been sold through Morgan Stanley's wealth management platform.

According to the Islamic Republic News Agency (IRNA), Iran's response to the U.S. proposal to end the war has been conveyed through Pakistan.

According to the trading analysis platform Polymarket Polyinsider, the address 0xc6dd...89F made a precise bet on the Russia-Ukraine ceasefire event, achieving a daily profit of $34,000, setting a recent best performance. This address belongs to a high-win-rate "fundamental" trader, with a historical total win rate of 70.4%, and has realized a cumulative profit of approximately $78,800.Data analysis shows that today's significant profit is mainly due to its accurate judgment on the event "Russia and Ukraine will cease fire before June 30, 2026." This event has been successfully settled with a "YES" result. The trader not only recorded a daily trading volume of over $1 million but also successfully locked in the largest single profit in recent times. As of now, this address has accumulated a total of 2,526 trades, with a historical maximum drawdown controlled at approximately $14,000.

According to monitoring data from Arkham, Morgan Stanley's spot Bitcoin exchange-traded fund MSBT has once again purchased 91.739 BTC, worth 7.34 million dollars, 10 hours ago. As of now, its total Bitcoin holdings have reached 2922 BTC, worth 235 million dollars.