Crypto Industry News & Market Trends

Huma Finance exploit Polygon: $101,000 loss from V1 pools

A Huma Finance exploit Polygon incident has put a familiar DeFi problem back in the spotlight: old contracts can stay dangerous long after a protocol has moved on. Huma Finance said roughly $101,000 was drained from its deprecated V1 BaseCreditPool contracts on Polygon on May 11, but user deposits were not affected.　　The attacker pulled out 82,316 USDC and 19,075 USDC.e through unauthorized drawdowns, according to the protocols disclosure. Just as important for users, Huma said the losses were limited to pool owner fees and protocol fees, not customer funds.　　That distinction matters. In crypto, the words “exploit” and “drained” can quickly trigger fears of wider contagion. Here, Huma drew a sharp line between the older Polygon-based system that was hit and the parts of the project still running normally, including PayFi Strategy Token (PST) and Humas V2 deployment on Solana.　　Huma Finance discloses a $101,000 exploit on Polygon　　The Huma Finance exploit Polygon users are now parsing traces back to deprecated infrastructure rather than the protocols current core operations. Huma said the affected contracts were the older V1 BaseCreditPool contracts on Polygon, which were already supposed to be out of commission.　　The total amount drained was approximately $101,000. Broken down, that included 82,316 USDC

05-12Industry

Universal Digital Introduces Real-Time Proof Of Reserves To USDU Stablecoin With Brevis-ZK, Bringing User Trust To DeFi

In a groundbreaking move to enhance transparency and build greater trust for DeFi users, Abu Dhabi–based Universal Digital Intl Limited today entered into strategic partnerships with decentralized oracle networks, including Brevis-ZK and Primus Labs, to integrate real-time verification of its USDU stablecoin reserves, aiming to monitor the health of the stable assets across DeFi markets.　　In January this year, Universal Digital Intl Limited launched USDU, the first stablecoin issued in the Middle East region, and consequently got registered by the Central Bank of the United Arab Emirates as a foreign payment token. Announcement revealed today by Unitas Labs, a DeFi protocol that offers unitized stablecoins for different emerging markets, disclosed that Universal Digital has taken a further step as it is now building a new standard for real-time financial verification of the stablecoin USDU.　　Universal Digital Partners With Brevis-ZK, Primus Labs, And Unitas Labs　　Every time new capital moves on-chain, trust breaks when the funds are not verifiable. This explains the reason Universal Digital announced its partnership with decentralized oracle networks, including Brevis-ZK and Primus Labs, to power real-time proof of reserves for the USDU stablecoin. As part of the collaboration, USDU today went live with Brevis-ZK‘s and Primus Labs’ proof of reserve

05-12Industry

SUI Price Today: Sui at $1.20 After 27% Weekly Surge From $0.94 – Can It Hold the Breakout?

Sui is trading near $1.20 on May 12, 2026, after one of its biggest weekly moves in months. The CoinMarketCap 1W chart shows it clearly: SUI ground slowly higher from the $0.9471 weekly open, then exploded on May 10 to 11 on the back of two concrete catalysts, touching a high near $1.40 before the current pullback.　　From $0.94 to $1.40 is a 48% move. Giving back some of that to $1.20 is not a surprise. The question is whether $1.20 holds or whether this weeks candle becomes a shooting star that gets fully unwound.　　What Drove the Move　　Two things hit on May 9 to 10 and the chart responded immediately to both.　　A Nasdaq-listed company disclosed it had staked a significant portion of SUIs circulating supply. Institutional staking at that scale removes tokens from liquid supply and sends a public signal that a regulated entity is making a long-term bet. Price jumped 13% on that news alone.　　The same day, at the Sui Live event in Miami, Nigerian fintech Paga announced a deep integration with the Sui blockchain using the USDsui stablecoin to offer dollar accounts, tokenized real-world assets, and cross-border payments to its user base. Paga processed $11 billion in 2025. That

05-12Industry

Grayscale Files Updated S-1 For HYPE ETF To Include Staking

Asset manager Grayscale Investments has amended its S-1 filing for the proposed Hyperliquid ETF. It now aims to offer staking yield to HYPE ETF holders if the product launches.　　Grayscale Investments Amends HYPE ETF Filing　　The revised Form S-1 was submitted to the U.S. Securities and Exchange Commission on May 11. It integrates fresh language that enables the trust to collect the staking rewards generated by HYPE tokens in the fund. The ETF will be listed on Nasdaq under the symbol “HYPG.”　　The trusts new investment goal focuses on supporting the value of HYPE. This includes “HYPE earned as Staking Consideration.” Here, the asset manager seems to mirror its approach with Ethereum ETFs as it now offers ETH staking yields to holders.　　However, if it is not compliant with regulatory and tax requirements, then Grayscale wouldnt add staking rewards. The firm noted that its structure should continue to qualify as a grantor trust to move ahead with the staking provision.　　The filing also mentions it is intending to adopt the name “Grayscale Hyperliquid Staking ETF” for the trust. This would happen after the registration comes into effect.　　Why Is Staking Added To HYPE ETF Filing？　　For context, Hyperliquid is a decentralized perpetuals trading blockchain. The project has

05-12Industry

XRP by Far: How Ripples David Schwartz Makes His Biggest Profit Despite Selling Too Early

David Schwartz, Ripples CTO Emeritus and now an honorary member of the renewed XRPL Foundation, responded on social platform X to a user question about which digital asset had generated the biggest profit for him, and, “by far,” it was XRP.　　Notably, the chief architect of XRP Ledger openly describes himself as excessively conservative. Reflecting on what advice he would give to his younger self before entering the industry, Schwartz said he would tell himself to take more risks, though he admitted he still likely would not have followed that advice.　　The math behind David Schwartzs XRP holding strategy　　Schwartz had previously disclosed the structure of his historical holdings, which explains his current conclusions. At the peak of his accumulation, Schwartz held 26,000,000 XRP, for which he converted his Bitcoin and Ethereum reserves.　　At the same time, Schwartz still considers himself an extremely cautious investor. Once XRP reached the $0.10 mark, the amount of capital at risk – $2.6 million at the time – became psychologically uncomfortable for him.　　Because of his aversion to risk, he and his wife decided to systematically sell portions of their holdings each time XRP reached a new all-time high.　　You Might Also Like　　According to the current XRP/USD chart at the

05-12Industry

Microsoft (MSFT) Shares Slip After $38B OpenAI Payment Cap Agreement

Microsoft Corporation, MSFT　　Shares of Microsoft declined 0.59% in response to the disclosure.　　This development builds on contractual adjustments finalized in recent weeks. Those modifications granted OpenAI expanded freedom to pursue partnerships with alternative cloud infrastructure companies and technology firms, notably Amazon (GOOG).　　Since 2019, Microsoft has committed $13 billion to OpenAI. This substantial investment catalyzed OpenAI‘s expansion while simultaneously accelerating growth within Azure, Microsoft’s cloud computing division.　　Based on the updated agreement, Microsoft retains its position as OpenAIs predominant cloud infrastructure ally. New OpenAI offerings will debut on Azure first, provided Microsoft possesses the capability and willingness to satisfy technical specifications.　　The licensing rights Microsoft secured for OpenAIs technology and offerings now extend through 2032, though exclusivity provisions have been removed.　　How the Payment Ceiling Benefits OpenAI　　For OpenAI, establishing the $38 billion threshold creates financial predictability. Limiting payment exposure eliminates ambiguity regarding future monetary obligations — precisely the transparency prospective investors demand before a company transitions to public markets.　　Several OpenAI leadership members have referenced a possible stock market listing targeting fourth quarter 2026, per The Informations sources. Finalizing revenue-sharing parameters beforehand represents a strategic preparatory measure.　　The restructured terms also expand OpenAIs operational latitude. The artificial intelligence company can now pursue engagements with Amazon Web Services

05-12Industry

XRP Transactions Surge 65% as Utility Hits Record High

XRP Utility Hits Historic High as Real-World Adoption Accelerates　　The XRP Ledger (XRPL) is experiencing a major surge in real-world adoption, with XRP activity climbing to record levels. New research from Evernorth shows monthly XRP Ledger transactions jumped from 43 million to over 71 million in the past year alone, a fueled primarily by growing institutional demand and enterprise-level usage.　　Unlike the short-lived speculative surges common across crypto markets, XRPs latest growth appears to be driven by real business activity and payment infrastructure.　　According to Evernorth, speculative trading usually comes in sudden bursts, while true utility grows gradually as companies and financial systems consistently move real value across the network.　　Several major players are powering this growing momentum. For instance, Crypto exchange Bitstamp continues to be a key driver of XRP Ledger activity, with trading and settlement flows adding consistent volume to the network.　　Ripples RLUSD stablecoin is also gaining traction, with rising issuance and transfer activity strengthening its role within the ecosystem.　　Meanwhile, Justoken is boosting on-chain usage through DeFi activity, while Brazil‘s Braza Bank is pushing real-world adoption by integrating the XRP Ledger into cross-border payments and banking services. Institutional infrastructure provider VERT is also expanding the network’s footprint by supporting broader financial use

05-12Industry

XRP Price Pullback: Can Bulls Reclaim $1.58-$1.85 Resistance Zone?

XRP price slipped from recent highs as geopolitical tension weighed on crypto sentiment.ChartNerd said weekly 20 and 50 EMAs remain key macro resistance levels for XRP price.XRP products recorded nearly $40M in inflows as futures open interest climbed to $3.02B.　　XRP price slipped from highs near $1.50 and traded around $1.46 as geopolitical tension weighed on crypto markets. The pullback followed weaker risk sentiment after recent bullish momentum failed to clear major nearby resistance levels.　　The decline came after Donald Trump rejected Irans response to a U.S. peace proposal. Reuters reported that Trump called the response unacceptable, adding pressure to global markets and energy sentiment.　　XRP Price Rally Tests Macro Resistance　　In an X post, analyst ChartNerd said XRP could still secure a daily breakout. However, he added that the weekly chart shows major macro resistance above current levels. His view suggests the move may still be a countertrend rally.　　ChartNerd pointed to the weekly 20 EMA and 50 EMA as key resistance levels. He said both were lost and later confirmed as resistance in January 2026. That structure created a death cross before the earlier drop from $2.40 to $1.11.　　Source: X　　The analyst said a macro bullish reversal would need both EMAs reclaimed as support.

05-12Industry

OpenAI Borrows Palantir’s Playbook With $4 Billion Deployment Company Launch

OpenAI has unveiled the OpenAI Deployment Company, backed by $4 billion in initial investment.　　The initiative boosts the firm‘s ability to embed Forward Deployed Engineers, or FDEs, within client organizations, mirroring Palantir’s model.　　OpenAI Reveals $4 Billion Deployment Company　　In a recent blog post, OpenAI introduced the OpenAI Deployment Company. This new entity will help businesses build and deploy AI systems they can lean on for their most critical day-to-day operations.　　The subsidiary is a partnership between OpenAI and 19 global investment firms, consultants, and system integrators. Private equity firm TPG leads the partnership alongside co-lead founding partners Advent, Bain Capital, and Brookfield.　　“The OpenAI Deployment Company will extend OpenAIs ability to embed…Forward Deployed Engineers, or FDEs, into organizations working on complex problems in demanding environments. These FDEs will work closely with business leaders, operators, and frontline teams to identify where AI can make the biggest impact, redesign organizational infrastructure and critical workflows around it, and turn those gains into durable systems,” the blog read.　　In addition, OpenAI also said that it has agreed to acquire Tomoro, an applied AI consulting firm. The deal brings approximately 150 FDEs into the subsidiary.　　FDEs embed inside client organizations, redesigning workflows and connecting models to legacy systems. Historically, Palantir refined

05-12Industry

Banks Push Senators to Limit Stablecoin Yield Ahead of Vote

The American Bankers Association (ABA) is ramping up its lobbying efforts ahead of a critical Senate Banking Committee vote scheduled for May 14. At the center of the debate is the CLARITY Act, a proposed regulatory framework for digital assets, with specific focus on provisions allowing stablecoin issuers to offer yield-like rewards.　　In a memo sent to member bank CEOs over the weekend, ABA President Rob Nichols described the issue as an “urgent advocacy fight.” Nichols warned that the legislation, as currently drafted, could encourage consumers to divert deposits from traditional banks to stablecoin products. “The legislation would permit stablecoin issuers and their partners to pay interest or interest-like incentives to stablecoin holders,” Nichols wrote, calling this a potential “digital asset loophole” that undermines financial stability.　　The ABA letter follows months of behind-the-scenes lobbying. On May 8, the association, along with other banking groups, sent a letter to Senate lawmakers urging stronger restrictions on stablecoin yield provisions. Bank of America CEO Brian Moynihan has gone as far as to estimate that such products could siphon off up to $6 trillion from traditional banks.　　Crypto Industry Pushback　　The crypto industry has pushed back against these criticisms, arguing that stablecoin yield products provide much-needed innovation in

05-12Industry

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