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According to on-chain analysis platform Lookonchain (@lookonchain), institutions and whales continue to increase their holdings of HYPE: Galaxy Digital withdrew 179,000 HYPE (approximately $12.62 million) from Coinbase in the past 7 hours; meanwhile, the new wallet address 0x6436 withdrew 135,824 HYPE (approximately $9.73 million) again 8 hours ago, bringing the total withdrawal amount over the past two days to 399,730 HYPE (approximately $28.92 million).

The Huobi HTX VIP private class "AI + Trading from Theory to Practice" was held in Shanghai, where early Bitcoin miner and pyra.io CTO Tian Jia shared the development of quantum computing and the impact of AI on trading.He believes that in the AI era, investors are more equitable in "gaining knowledge," such as establishing institutional-level trading frameworks. However, in "trading competition," it is less equitable, such as training institutional-level trading models. The real enhancement of fairness comes from AI lowering the cognitive threshold, while the true unfairness expands from the concentration of data, speed, capital, and platform manipulation capabilities.

According to crypto analyst Ai Yi @ai_9684xtpa, after a 5-day break, the a16z affiliated entity has started to accumulate a large amount of HYPE again.Data shows that in the past 7 hours, this entity has withdrawn a total of 253,947.43 HYPE from multiple exchanges and market maker addresses, worth approximately 15.03 million USD, with an average withdrawal price of about 59.2 USD. Currently, HYPE has retraced about 10% from its historical high, now reported at 58.13 USD.

According to CoinDesk, the UK has imposed sanctions on 18 entities and individuals accused of assisting Russia in evading Western restrictions and funding its war in Ukraine, including the cryptocurrency exchange Huobi Global S.A. (operator of HTX) and the stablecoin issuer Open Joint Stock Company "Virtual Asset Issuer."This is the first time the UK has applied Regulation 17A, which targets sanctioned banks, to cryptocurrency exchanges, requiring UK financial institutions and cryptocurrency service providers to freeze relevant funds, track on-chain transactions, and not maintain agency relationships or process payments related to sanctioned entities. The sanctions primarily target the A7 payment network.According to the official announcement from Huobi HTX, the sanctioned "Huobi Global S.A." and the online Huobi HTX exchange are independent entities, and this sanction will not affect the online Huobi HTX exchange. Currently, Huobi HTX's global operations are normal, and user funds are safe and secure.

According to official news, Gate DEX will officially launch the "DEX Pizza Festival Exchange Trading Competition" from May 25, 2026, 18:00 to June 11, 18:00 (UTC+8). The event covers all EVM-compatible networks and supports participation from multiple business lines on both web and app platforms. During the event, users can exchange any cryptocurrency through Gate Swap, and those who accumulate an effective trading volume of 5,000 USDT will qualify to share a total prize pool of 10,000 USDT. Among them, the top 1-3 traders can receive a fixed reward of up to 500 USDT, while the participants ranked 4-200 will share a tiered prize pool of 9,000 USDT based on their trading volume proportion.The trading competition activity area launched on December 23, 2025, is a fair and transparent trading arena designed specifically for on-chain users. Relying on the powerful aggregated liquidity of Gate Swap, it aims to provide users with a superior experience of low slippage and fast transactions. Users can participate in designated cryptocurrency trading with one click using the Gate DEX wallet, flexibly competing in three major event types: trading volume, yield, and newcomers. After the competition, bonuses will be automatically airdropped, allowing users to earn substantial token rewards based on their trading strength and enjoy the added value of on-chain trading.

According to CoinDesk, Coinbase's Head of European Policy Katie Harries stated that Coinbase is not worried about large Wall Street institutions and traditional financial institutions increasing their participation in the cryptocurrency space, claiming that the crypto industry has a community foundation that traditional financial institutions cannot replicate.She mentioned that the advocacy group Stand With Crypto has over 3.7 million members globally, and members have made over 2.5 million contacts with lawmakers. Katie Harries also stated that cryptocurrency voters have become a long-term force in the global political landscape, and policymakers should expedite the development of a coordinated and reasonable cryptocurrency regulatory framework.

According to the South Korean media outlet "Seoul Economy," a nationwide petition calling for the cancellation of cryptocurrency taxes has been included in the agenda for discussion in the National Assembly. The "Petition to Cancel Virtual Asset Tax," published on the National Assembly's electronic petition platform, garnered support from over 50,000 people in just eight days, meeting the criteria for submission to the permanent committee for review. The petition will be handed over to the Finance and Economy Committee, which oversees the Ministry of Economy and Finance and the National Tax Service, for examination, after which it will be decided whether to submit it for consideration by the plenary session. Petitioners argue that "since the financial investment income tax on stocks has been abolished and tax reduction policies have been implemented, it is unreasonable to impose a separate tax solely on virtual currencies," adding that "the current system needs a comprehensive review, not just simple supplementation."

The China Securities Regulatory Commission has filed an investigation and issued a prior notice of administrative punishment against TigerBrokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited for illegal securities business operations by relevant entities both domestically and abroad.According to the notice, the relevant entities of Tiger, Futu, and Changqiao conducted securities trading marketing, processed trading instructions, and provided related securities business services to obtain relevant income without the approval of our commission and without obtaining the licenses for securities brokerage business and securities financing and margin trading business, violating the provisions of Article 120 of the Securities Law, thus constituting illegal operation of securities business.In accordance with the provisions of Article 202 of the Securities Law, Article 136 of the Securities Investment Fund Law, and Article 132 of the Futures and Derivatives Law, our commission intends to decide to confiscate all illegal gains of the relevant entities of Tiger, Futu, and Changqiao, and impose severe penalties according to the law. The parties involved have the right to make statements, defend themselves, and request a hearing regarding the administrative penalties to be imposed. Our commission will fully listen to the opinions of the parties involved before making an administrative penalty decision in accordance with the law.

A petition in South Korea calling for the abolition of a 22% tax on cryptocurrency investment gains has reached the threshold of 50,000 signatures and will be reviewed by the National Assembly's Finance and Economy Planning Committee. This tax rate is set to take effect in January 2027. The petitioners argue that this tax system imposes financial and reporting burdens on investors while limiting upward mobility opportunities for young people who have been excluded from the housing market due to soaring property prices.The petitioners point out that imposing a 22% tax rate on cryptocurrency gains while offering more favorable tax treatment to other asset classes will weaken South Korea's share in the cryptocurrency market. They warn that forcibly imposing short-term taxes could lead to industry shrinkage and the outflow of capital and talent in the long run.Approximately 32% of South Korea's population holds cryptocurrency, but the market is contracting. The total value of cryptocurrency assets held by South Koreans has decreased from about 121.8 trillion won in January 2025 to about 60.6 trillion won in February 2026, and the daily trading volume of the five major exchanges has dropped from $11.6 billion in December 2024 to $3 billion in February.

The cryptocurrency trading platform FameEX has officially launched the "TradFi Crazy Trading Competition Phase 1," which will take place from May 20 to May 31.It is reported that this event mainly targets the CFD (Contract for Difference) trading area on the FameEX platform, supporting trading of commodities tokens such as gold and crude oil, as well as US stock tokens like Tesla, Nvidia, and Apple. During the event, users can unlock multiple benefits by participating in designated currency trading, including a new user first order reward, trading volume achievement rewards, continuous check-in rewards, and a 100% loss subsidy for the first order up to 50 USDT.In addition, the official stated that users participating in the trading challenge, if their cumulative trading volume reaches tiered targets, can additionally receive up to 8,000 USDT in experience rewards per individual.

According to Token Terminal data, Steakhouse Fi's leading advantage in the Morpho curator ecosystem has expanded to approximately $1 billion, far exceeding the second place. A year ago, there was almost no significant gap between the protocol and its competitors, indicating rapid growth and market consolidation over the past year.Morpho operates on a curator model, where multiple treasury managers compete for liquidity by offering different risk-return configurations and strategies. Steakhouse Fi's dominance indicates that it has successfully achieved differentiation or gained significant user trust within the Morpho ecosystem. The curator ecosystem remains an active competitive area in the DeFi space, with various protocols increasingly relying on specialized managers to expand capital deployment across different risk levels and strategies.

According to Cointelegraph, Bank of England Deputy Governor Sarah Breeden stated that tokenization can reduce settlement costs, speed up processes, and promote competition, provided that trust and interoperability are ensured. Breeden emphasized that even in the context of private sector innovations such as tokenized deposits and regulated stablecoins, central bank money will remain the cornerstone of the monetary system. She mentioned that the Bank of England is working with industry, government, and regulators to build a framework that supports innovation without compromising financial stability.Breeden stated that, in addition to traditional bank deposits, people should also be able to make payments using tokenized deposits, regulated stablecoins, and retail central bank digital currencies, and that increased competition in technologies and business models will lower user costs and improve functionality. The Bank of England also proposed on Monday to extend the operating hours of its core settlement infrastructure to nearly 7x24 hours to support cross-border payments and securities settlement.

Bloomberg ETF analyst James Seyffart revealed that Truth Social, the social platform owned by Trump, has withdrawn its application for a spot Bitcoin ETF. Seyffart stated that the reasoning given in the official press release "is not very reasonable." He pointed out that there are inherent differences in regulatory protections between 33 Act ETPs and 40 Act ETFs, which is common knowledge in the crypto ETF market, and "there are no new changes." He believes that a more likely reason is that competition in the spot Bitcoin ETF market has become extremely fierce, especially after Morgan Stanley launched its MSBT with a fee of only 14 basis points, further compressing market space.Seyffart also noted that Truth Social seems to still plan to launch a more flexible crypto-related ETF strategy and adopt a 40 Act fund structure. He stated, "Does the market really need a 14th spot Bitcoin ETF? But more differentiated products still make sense."

According to a joint article by several executives in the French cryptocurrency industry, the current tax policy on stablecoins is severely outdated. Under current regulations, converting stablecoins to fiat currency and withdrawing to a bank account incurs taxes, forcing a large amount of crypto assets to remain outside the traditional financial system, which is expected to result in a tax loss of 1 billion to 3 billion euros annually.The article calls for the French government to make targeted adjustments to the "2027 Budget Bill" within the next six months, as AI agents are increasingly adopting stablecoins for payments. It suggests following the practices of other countries by defining the conversion of stablecoins to fiat currency as a "tax-free withdrawal." Industry experts warn that if this critical six-month window is missed, France may miss out on significant industrial benefits brought by the integration of AI and cryptocurrency payments.

Bernstein stated in its latest research report that the recently reached compromise on stablecoin yield in the U.S. CLARITY Act is structurally beneficial for Circle and the USDC ecosystem.The report indicates that the current version of the bill prohibits stablecoin issuers from paying interest to passive holders that is "economically equivalent" to bank deposits, but allows reward mechanisms related to real transactions, payments, and usage behaviors to continue. Bernstein believes this means that Circle's current model, which relies on partners like Coinbase to provide USDC reward programs, will gain regulatory recognition, while also limiting the industry's ability to compete for market share through high yields.Bernstein pointed out that the bill actually reinforces the positioning of stablecoins as "payment tools" rather than "deposit substitutes," which helps protect Circle's current business model that relies on reserve income. It continues to give Circle an "outperform" rating and a target price of $190.Data shows that the total supply of global dollar stablecoins has surpassed $300 billion, with USDT and USDC together accounting for about 97% of the market share. Bernstein noted that USDC's share in on-chain payments and wallet transfers is continuously increasing, with its payment share in the AI Agent payment protocol x402 exceeding 99%.Additionally, Bernstein mentioned that Circle's launched ARC chain has completed a total of 244 million testnet transactions, and its ARC token presale previously raised $222 million, with investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock among others.However, the report also pointed out that the CLARITY Act still needs to complete several legislative procedures before it can officially take effect, including a full Senate vote with 60 votes and coordination with the House version. Polymarket currently predicts a probability of about 62% for it to pass by 2026.