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According to the Financial Times, several large technology companies, including Alphabet and Amazon, are accelerating their entry into the global bond market, raising funds through large-scale overseas bond issuance to support the expansion of artificial intelligence infrastructure and computing power.The report states that this round of financing activities has reached a new high in recent years, reflecting the increasing demand for long-term capital expenditures among tech giants in the AI race, particularly focused on data centers, computing clusters, and cloud infrastructure construction.Analysts believe that against the backdrop of high interest rates, companies are choosing to optimize their financing structure globally, diversifying funding costs and term risks through multi-currency debt markets, further strengthening their capacity for investment in AI infrastructure.

According to The Block, Sharplink CEO Joseph Chalom stated that the New York Stock Exchange and Nasdaq are advancing 24/7 trading, and the U.S. Depository Trust & Clearing Corporation is promoting tokenized collateral, along with Bullish's acquisition of Equiniti, indicating that the public equity on-chain process may be faster than the market expects.Meanwhile, several Ethereum reserve companies have significantly retreated from their summer 2025 highs, with a noticeable contraction in the market value to net asset value ratio. Chalom mentioned that some companies are under pressure due to prematurely issuing preferred stock or convertible bonds; Sharplink focuses more on equity financing and staking yields while trying to keep the balance sheet simple.He also stated that over the past year and a half, Bitcoin and Ethereum have behaved more like risk assets, but as stablecoins, tokenized assets, DeFi, and AI applications expand on Ethereum, Ethereum may further differentiate from Bitcoin in the long term.

According to CoinDesk, Moody's has awarded the highest rating of AAA-mf to the tokenized money market funds of Fidelity and BlackRock, marking that the products of both institutions meet the highest standards in credit quality, liquidity, and capital preservation.Fidelity's FILQ fund was launched on May 6, built on Sygnum's Desygnate tokenization platform, supporting on-chain real-time cash settlement, and introducing infrastructure support from JPMorgan, Apex Group, and Chainlink; BlackRock's BUIDL fund is set to launch in March 2024 and currently accounts for about 15% of the tokenized government bond market.

PANews' in-depth analysis article points out that, in the context of accelerating global cryptocurrency regulation, compliance capability is becoming a key watershed in the competition among CEXs. Trading platforms represented by Gate are strengthening their competitiveness in the mainstream financial system by continuously expanding their global licensing network.Specifically, Gate is promoting its compliance layout through its various operational entities: Gate US achieves compliant operations in 46 jurisdictions by holding 35 state-level MTL licenses in the United States; leveraging the Cyprus CySEC license, MiCA license, and Payment Institution (PI) license, it is deeply developing business in multiple regions in Europe; Gate Japan is entering the highly regulated Japanese market with the FSA license; it is tapping into the rapidly growing Middle Eastern market with the Dubai VARA license; at the same time, it has completed its layout in the Australian market through AUSTRAC registration.The article notes that compared to some platforms that focus on advancing in a single region, Gate prefers to promote its global compliance layout by establishing entities in multiple locations and directly applying for licenses. Although this path takes longer and incurs higher costs, it helps enhance long-term compliance credibility and diversify risks associated with a single jurisdiction. As global regulation enters the enforcement phase in 2026, the industry's model of "expanding first, complying later" is gradually retreating, and compliance is transforming from a cost item into a core asset, becoming a key threshold for platforms to participate in mainstream market competition.

Despite Coinbase reporting a net loss of $394 million in the first quarter, with revenue of only $755.8 million significantly below expectations, leading to a 6% drop in stock price, Benchmark analysts still reiterated their buy rating on Tuesday and raised the target price from $260 to $270. Analysts believe that Coinbase is transforming from a market-dependent crypto broker to a foundational infrastructure platform for the "onchain economy," having achieved net inflows for 12 consecutive quarters, with a global trading volume share reaching a new high of 8.6%, and possessing 12 monetization businesses, each contributing about $100 million in annualized revenue; additionally, the trading volume of stablecoins on the Base chain has increased tenfold year-on-year, and derivatives revenue has reached a new high, combined with an improving regulatory environment, all seen as long-term growth drivers.

Movement announced that it has completed the acquisition of the on-chain Vault infrastructure project Canopy, further integrating key financial infrastructure within the Movement Network. Canopy has previously been an important part of the Movement ecosystem, primarily responsible for building the Vault layer on the Movement Network, with its smart contracts allowing users to allocate assets and strategize on-chain with independent strategy managers.After this acquisition, Canopy will collaborate more closely with the on-chain credit protocol MovePosition, and Movement is gradually building a complete on-chain financial infrastructure stack covering modules such as Vault, credit, and yield strategies. Movement stated that most public chain ecosystems still rely on third parties to provide core financial primitives, while Movement hopes to achieve deeper technical collaboration between Vault contracts and other components of the network through self-built and internally integrated methods.For developers, this means they can directly integrate core protocols that are continuously iterating; for partners, it means stronger consistency between the underlying infrastructure and the development team; for users, it is expected to provide a more unified on-chain financial product experience. The official also revealed that MovePosition and Canopy will gradually operate as a unified infrastructure, with more integration details to be announced in the coming weeks.

According to The Defiant, BlackRock has submitted a new tokenized fund filing to the U.S. Securities and Exchange Commission (SEC) and has once again chosen Securitize to provide infrastructure support. Previously, the first tokenized fund BUIDL launched in collaboration with Securitize was successfully issued in 2024, and its asset size has now reached approximately $2.3 billion.

The regulated securitization trading platform tZERO announced the integration of its tokenized issuance platform into the Aptos network, enabling issuers to directly issue real-world asset (RWA) tokens on this high-performance public chain, further broadening the on-chain path for institutional-grade assets.Aptos is positioned as the underlying network for institutional-grade tokenization infrastructure and is continuously attracting traditional finance and compliant tokenization platforms. Currently, tokenized funds from institutions such as BlackRock and Franklin Templeton are already operating on-chain.With the integration of tZERO, the compliant asset issuance and trading infrastructure on Aptos has been further improved, covering the full chain capabilities from issuance, circulation to settlement.

Former Goliath Ventures CEO Christopher Delgado recently publicly apologized to investors after being charged by U.S. prosecutors for operating a cryptocurrency Ponzi scheme involving approximately $328 million. Delgado stated that he had betrayed the trust of investors and claimed he had voluntarily returned to the U.S. to face charges of fraud and money laundering.Prosecutors allege that between January 2023 and January 2026, he promised investors fixed monthly returns under the guise of "cryptocurrency liquidity pool investments," while actually using subsequent funds to pay returns to earlier investors. U.S. prosecutors also accused him of using some of the funds to purchase Florida properties worth a total of $14.5 million, as well as for hosting lavish events and trips. Delgado is currently out on bail, and if convicted on all charges, he could face up to 30 years in federal prison.

According to The Block, the U.S. Senate Banking Committee has released an updated 309-page text of the Clarity Act, which is set to be reviewed and voted on later this week. The new text includes language related to restrictions on stablecoin rewards, as well as provisions from the Blockchain Regulatory Certainty Act, clarifying that non-custodial developers do not fall under the category of money transmitters. Coinbase, which previously withdrew its support due to controversies over the stablecoin rewards provisions, has now shifted to support, but banking groups still believe the restrictions are insufficient.Meanwhile, the bill still does not include ethical constraints regarding profits from digital assets for the president and other federal officials. Democrats have stated that without relevant compromises, the bill will struggle to gain support.

a16z Crypto published an article explaining the investment logic behind Arc, pointing out that stablecoins have evolved from tools for crypto trading to a core layer of global financial infrastructure, driving the upgrade of blockchain from "application layer finance" to "system-level economic operating systems."The trading volume of stablecoins reached approximately $9 trillion last year, placing them on the same scale as global payment networks like Visa and PayPal. The total supply of US dollar stablecoins has also exceeded $270 billion, with cross-border payments, B2B settlements, and foreign exchange trading becoming the core use cases for stablecoins, gradually making them the "upgrade layer for global capital flows."a16z Crypto stated that the existing blockchain infrastructure is still primarily aimed at crypto-native users and individual developers, lacking native support for large institutional-level demands. The reason for participating in the ecosystem construction related to ARC tokens is mainly due to the gradual on-chain transition of global finance; in the future, only a few public chains will be able to support the "on-chain economic system foundation."

Data submitted by the Bank of Korea to the National Assembly shows that the scale of cryptocurrency assets held by South Korean investors has decreased from 121.8 trillion won (approximately 8.33 billion USD) at the end of 2025 to 60.6 trillion won (approximately 4.14 billion USD) at the end of 2026, shrinking by more than 50% in one year. During the same period, the average daily trading volume of South Korea's five major exchanges—Upbit, Bithumb, Korbit, Coinone, and Gopax—also fell from 11.6 billion USD in December 2024 to 3 billion USD in February this year.The scale of deposits in exchanges in won has decreased from 10.7 trillion won to 7.8 trillion won, reflecting that some funds are flowing into the South Korean stock market. However, the holdings of stablecoins remain relatively strong. Data shows that South Korea's stablecoin holdings peaked at 597 million USD in December 2024 and fell to 41 million USD in February this year, with a decline significantly smaller than that of the overall cryptocurrency market. In addition, South Korean regulators plan to implement stricter anti-money laundering rules in August, automatically marking transactions involving overseas exchanges or private wallets exceeding 10 million won as suspicious transactions. The Digital Asset Exchange Association (DAXA) of South Korea has warned that this measure may lead users to turn to overseas platforms like Binance. The South Korean Ministry of Finance also recently confirmed for the first time that a 22% tax rate on cryptocurrency gains will officially take effect on January 1, 2027.

WORLD3 today announced the official launch of its decentralized AI routing network RouterLink, enabling the permanent domain routerlink.ai. This official version brings three core upgrades compared to the previous Alpha stage: complete Web2 payment support (Stripe credit card/debit card/Apple Pay/Google Pay), direct connection to over 60 cutting-edge purebred flagship models (without quantization, without distillation), and official production-level endorsements from three major cloud providers: AWS, Microsoft Azure, and Google Cloud.WORLD3 disclosed that the RouterLink network currently supports over 68 models, covering more than 20 providers, with uptime locked at 99.9%, and daily settlement flow exceeding $1.5 million $WAI. The launched purebred flagship models include Claude Opus 4.7, GPT-5.5, Gemini 3.1 Pro Preview, DeepSeek V4 Pro, Grok 4.3, Qwen3-Max, Llama 4 Maverick, Kimi K2.6, GLM 5.1, MiniMax M2.7, etc., all provided at full specifications. The cumulative $450K quota from the three major cloud collaborations has been fully utilized — including the public inclusion of the AWS Customer Case Study, Microsoft for Startups Level 4 (highest level) + $300K AI Grants, and direct connection to Google Cloud Vertex AI.WORLD3 stated that this official launch also opens up the enterprise procurement channel: Stripe payments and $WAI on-chain payments run in parallel, allowing developers to access the complete catalog of 68 models within 60 seconds after registering their email and recharging with a credit card. The subsequent roadmap includes the RouterLink mainnet, GPU computing power market, an Agent skill market linked with TapClaw, and an enterprise version SLA service that is already in pilot with some clients.

According to market news, the National Assembly of South Korea has passed an amendment to the Foreign Exchange Transaction Act, requiring companies engaged in cross-border transfer of virtual assets to register with the Ministry of Economy and Finance, bringing the cross-border flow of virtual assets such as stablecoins under the management system of the foreign exchange authorities.The amendment newly defines "virtual asset transfer business," covering activities that transfer virtual assets between South Korea and foreign countries through buying, selling, exchanging, etc. Virtual asset exchanges and custodians are also included in the registration scope. The amendment also reorganizes the foreign exchange business system, integrating the original currency exchange, small overseas remittances, and other businesses into "general currency exchange business" and "overseas payment settlement business." For violations of foreign exchange transaction procedures aimed at obtaining improper benefits, the penalty has been increased from fines of less than 50 million won to imprisonment of less than one year or fines of less than 100 million won.

The largest lending protocol Tydro under Kraken's Ink Layer 2 announced yesterday that it will remain in a market pause state until the completion of the Chainlink price oracle migration. On May 4, the risk management agency Chaos Labs notified Tydro that its oracle provider had been attacked, with an attack pattern similar to that of a nation-state actor, and recommended an immediate pause of all markets.Tydro stated that there were no abnormal price feeds to its market before or after the pause, and user positions were unaffected. About 48 hours later, Chaos Labs confirmed that the compromised keys had been rotated, and technically, operations could resume, but Tydro chose to continue the pause until the second push oracle was in place. The completion of the Chainlink migration will trigger a 48-hour time lock, during which a four-hour grace period will also be set, allowing borrowers with health factors below 1 to repay or add collateral without being liquidated. Tydro is a white-label deployment of Aave v3, and the total market size has recently exceeded $700 million.

DTCC (Depository Trust & Clearing Corporation) CEO Frank La Salla stated that the company is collaborating with multiple high-performance Layer 1 blockchains to explore migrating complex corporate actions such as dividend payments and tender offers to on-chain processing.La Salla mentioned at the Consensus 2026 conference that most blockchains still lack efficiency in handling corporate actions, while DTCC needs to process millions of dividend payments daily, thus requiring support from Layer 1 networks with high throughput and stability. DTCC is one of the core infrastructures of the U.S. capital markets, handling approximately $20 trillion in U.S. Treasury and securities transactions daily. The organization plans to launch a tokenized securities platform test in July this year, aiming for a broader rollout in October.La Salla believes that "tokenized collateral" could become the first large-scale institutional application scenario for blockchain. In the future, Asian institutions could even access dollar liquidity in real-time through on-chain collateral during New York's Sunday hours. However, he also warned that blockchain still faces issues such as scalability, liquidity fragmentation, and risk management, especially the efficiency of "net settlement" in traditional financial systems, which remains difficult to replicate in a decentralized environment.

The globally leading cryptocurrency trading platform Gate announced that it will hold an offline event in Milan on May 21. This timing coincides with Inter Milan Football Club securing the championship three rounds early in the Serie A league for the 2025-26 season, successfully winning the 21st league trophy in the club's history.At the same time, Gate is also celebrating its thirteenth anniversary. As the official sleeve sponsor of Inter Milan, Gate has gained significant global exposure alongside the team's championship journey, with brand awareness continuously amplified by the excitement of the events, attracting widespread attention in both the sports and Web3 industries.As a traditional powerhouse in Italian football, Inter Milan's return to the top further solidifies its competitive position on the elite stage. Gate, the official sleeve sponsor of Inter Milan, will invite clients, KOLs, and institutions to participate in this event, engaging in multidimensional communication and interaction around the event's milestones and brand culture.Leveraging the traffic and emotional resonance brought by sports events, Gate accelerates the expansion of its connection with mainstream culture, injecting new momentum into its brand internationalization process.

The Web3 asset data platform RootData has outlined 30 Web3 business partners of Hyperliquid, covering multiple key aspects such as stablecoins, cross-chain infrastructure, wallet entry, DeFi protocols, institutional custody, and trading ecosystems, gradually forming a complete on-chain financial system. At the funding level, Hyperliquid has connected with stablecoin issuers such as Circle, Tether, and Ethena. In terms of underlying infrastructure, it connects with cross-chain and oracle services like Chainlink, Axelar, deBridge, and Ripple. The user entry layer includes wallets and front-end tools like Phantom, Rabby Wallet, and DeBank, lowering the entry barrier for users. At the same time, more native DeFi protocols have begun to emerge within its ecosystem, such as Pendle, Felix, HypurrFi, and HyperBeat. According to RootData, the Hyperliquid ecosystem has included 145 quality projects, indicating that Hyperliquid is attracting more financial applications to build businesses around its liquidity. Additionally, the inclusion of custodians like Anchorage Digital, BitGo, and Fireblocks has begun to connect it with larger institutional funds. Trading platforms and market-making institutions like Bybit, trade.xyz, and IMC Trading further enhance market liquidity. Overall, Hyperliquid is continuously expanding around "on-chain liquidity," attempting to replicate the ecosystem model of centralized exchanges on-chain, but the core is no longer an account system. Related compilation: Hyperliquid Web3 Partner Network Compilation (continuously updated) Cryptocurrency projects actively showcasing their partner networks has become a key way to enhance transparency and market trust. It is reported that RootData welcomes Web3 projects to claim their information and continues to track and open more project business relationship disclosure channels. The platform has continuously released multiple issues of cryptocurrency project ecosystem maps, nominating Web3 ecosystem partners for upstream clients like Visa, Mastercard, and Coinbase. If you wish to nominate your project in future ecosystem maps, please fill out the [RootData 2026 Industry Ecosystem Mapping] form to supplement your important clients and partners.

According to The Block, Bitcoin mining company IREN Limited has agreed to acquire cloud infrastructure software company Mirantis for approximately $625 million in an all-stock transaction to enhance its AI cloud business layout.This acquisition will bring critical software and "orchestration" capabilities to IREN, helping it better monetize its expanding GPU and data center resources. Mirantis focuses on Kubernetes-based cloud infrastructure tools that enable automated deployment, scaling, and management of containerized applications.Analysts point out that the transaction values Mirantis at about 4 to 5 times its revenue, aimed at helping IREN catch up with AI cloud competitors like CoreWeave and build a complete "full-stack new cloud" capability.This merger is also an important step for IREN in its transformation from a Bitcoin mining company to an AI infrastructure platform. Previously, the company had raised approximately $3.6 billion through equity and convertible bond financing to expand its GPU and data center capacity, with total construction investments expected to exceed $9 billion. After the transaction is completed, Mirantis is expected to operate as an independent subsidiary.

According to official news, the AI predictive market operating system Elastics has completed a $2 million Pre-Seed round of financing, led by Frst, with participation from ElevenLabs, XBTO, RedStone, and a16z.