HYPE Crosses $50 for First Time Since September

Hyperliquids $HYPE token crossed $50 on Wednesday for the first time since September 2025, in part fueled by a high-profile call from Bitwises chief investment officer.  Bitwise CIO Matt Hougan on Tuesday argued in a weekly memo that the market is undervaluing Hyperliquid. Hougan framed Hyperliquid as a fast-growing trading venue moving beyond crypto perps into commodities, Ss move above $50 looks like a combination of momentum and improving fundamentals, but unlike many narrative driven rallies in crypto, Hyperliquid actually has meaningful on chain activity underneath the price action,” said Jason Rindahl, CEO of Nebula DeFi, in an emailed comment Wednesday.  Hyperliquid has been on a tear, gaining 32% in the past seven days, making it the best-performing large-cap crypto asset of 2026, according to CoinGecko.  SpaceX Pre-IPO Trading  The rally is also fueled by Trade.xyz, a decentralized perpetuals platform built on Hyperliquids HIP-3 framework, which on Monday launched a synthetic pre-IPO perpetuals contract tracking SpaceXs implied valuation.  The SPCX-$USDC contract opened at a $150 reference price implying a $1.78 trillion SpaceX valuation, spiked to $216 within hours, and settled around $202.89. The market recorded $33 million in 24-hour volume and $21.8 million in open interest on its first day. The Defiant reported on the

05-21Exchange

Coinbase Launches USDC-Backed Stablecoin with Flipcash

Coinbase launched $USDF with Flipcash, a Solana-based stablecoin backed 1:1 by Circles USD Coin, as the crypto exchange expands its infrastructure business for companies issuing branded digital currencies.  According to Wednesdays announcement, $USDF is designed to serve as the settlement asset for currencies created on Flipcash, a platform where users can launch fixed-supply digital currencies priced and transacted in the stablecoin. Flipcash said the token is intended to function as the primary dollar asset within its app.  In December, Coinbase launched its white-label stablecoin issuance service for companies seeking branded digital dollar products without managing their own reserve, custody or settlement infrastructure. The platform includes fiat onramps, wallet services and $USDC ($USDC) reserve backing. It previously identified Solflare, R2 and Flipcash among companies exploring launches using the system.  Flipcash said it selected Coinbases platform because it provided $USDC-backed reserves, onchain settlement infrastructure and integrated fiat access through a single service.  According to DefiLlama data, $USDC is the worlds second-largest stablecoin by market capitalization, with roughly $77 billion in circulation.  Stablecoin infrastructure providers expand white-label issuance services  The launch comes as stablecoin issuers and crypto infrastructure providers increasingly offer white-label services that allow businesses to launch branded digital dollar products without managing their own blockchain infrastructure or

05-21Exchange

Senate Targets Prediction Markets, Copper Eyes $500M Sale, GitHub Repos Stolen

Tech  Senate Targets Prediction Markets, Copper Eyes $500M Sale, GitHub Repos Stolen  Prediction market operators including Kalshi and Crypto.com faced sharp criticism during a two-hour U.S. Senate Commerce Committee hearing on Wednesday, with lawmakers probing advertising practices, regulatory disputes, and concerns that platform mechanics may incentivize athlete cheating. Committee Chair Ted Cruz cited recent incidents involving NBA players and coaches accused of manipulating performance, two MLB pitchers allegedly rigging pitches, MLS yellow-card scandals, and UFC match-fixing investigations. Senator John Hickenlooper accused the platforms of unleashing predatory marketing aimed at young users. Patrick McHenry, now advising the Coalition for Prediction Markets, defended the industry by stating trading is restricted to users above 18 and that the average participant age is 33.  Cryptocurrency custody firm Copper is exploring a sale at a roughly $500 million valuation, with Cantor Fitzgerald appointed to lead the process. The crown jewel of Coppers platform is ClearLoop, a settlement system enabling delivery-versus-payment transactions inside custody without moving assets on-chain — effectively eliminating settlement risk. The firm reports more than 1,000 active counterparties and over $50 billion in monthly notional trading volume. Copper had previously weighed a public listing earlier this year, but with Bitcoin trading below $80,000 and AI absorbing

05-21Industry

CME’s XRP Futures Hit $63 Billion Volume in First Year

Tech  CMEs XRP Futures Hit $63 Billion Volume in First YearBy the numbersExpanding the suite  Chicago Mercantile Exchange (CME) Group is marking the one-year anniversary of its XRP futures suite with a significant milestone.  It has reported nearly $63 billion in notional volume since the products launch.  The worlds largest financial derivatives exchange has stressed that the alternative asset enjoys “undeniable momentum.”  JPMorgan: Bitcoin Races Ahead of Ethereum  Hyperliquid (HYPE) Back in Bull Mode With 13% Rally, Ethereum (ETH) Risks Losing $2,000 Prematurely, XRPs Only Chance For $2 Comeback: Crypto Market Review  By the numbers  According to official exchange data collected through May 15, the CMEs first year of XRP futures trading generated massive institutional engagement.  This product has logged $62.87 billion in notional volume, with the total number of traded contracts surpassing 1.3 million. The average daily volume currently stands at $238 million.  Expanding the suite  In a statement accompanying the data release, CME Group stressed that it has rapidly become the industry leader in XRP open interest. This shows that there is a sustained demand from institutional investors who want to get exposure to the asset via a regulated product.  The CME has expanded its XRP offerings over the past year. On top of the standard futures contracts, the exchange

05-21Industry

MoneyGram Tempo partnership brings validators to remittance

Tech  MoneyGram Tempo partnership brings validators to remittance  The MoneyGram Tempo partnership pushes one of the best-known names in remittance further into blockchain-based infrastructure, signaling a practical shift in how cross-border money transfers could be handled behind the scenes. At the center of the deal is a clear operational role: MoneyGram will work with Tempo and serve as an anchor remittance validator on Tempos blockchain network.  That matters because this is not just a branding tie-up. Instead, the collaboration is designed to connect traditional remittance flows with blockchain-based settlement, giving MoneyGram a direct role in transaction validation rather than leaving it at the edge of the process.  For a payments industry that has long chased faster, cheaper, and more secure international transfers, the move points to something bigger: blockchain remittance is moving closer to established money-transfer rails, not just experimental crypto systems.  MoneyGram and Tempo form a blockchain remittance partnership  MoneyGram announced a partnership with Tempo, adding a new blockchain-focused layer to its remittance operations.  The stated goal is to bridge traditional remittance activity with blockchain-based settlement. In practical terms, that means the partnership is built around using Tempos network to handle parts of the money-transfer process in a more digitally native way.  The tie-up stands out because

05-21Industry

Securitize Posts $19.5M Record Q1, Fairshake PAC Sweeps Primaries, EU Opens MiCA Review

Tech  Securitize Posts $19.5M Record Q1, Fairshake PAC Sweeps Primaries, EU Opens MiCA Review  Securitize reported its strongest-ever quarter, with first-quarter revenue climbing 39% year over year to $19.5 million, even as the tokenization platform stayed in the red while preparing for a public listing through its proposed merger with Cantor Equity Partners II. Asset servicing revenue surged 201% to $8.3 million, while tokenization revenue held steady at $11.1 million. The Miami-based firm closed the period with $3.4 billion in tokenized assets under management, $24.9 billion in assets under administration and $1.9 billion in aggregated transaction volume. Net loss widened to $7.9 million as the company ramped headcount and infrastructure ahead of trading on Nasdaq under the ticker SECZ.  A bipartisan group of US lawmakers reintroduced the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation and Yields Act, known as the Parity Act, marking the latest Congressional push to modernize crypto tax rules. The bill directs the IRS to study how a de minimis exemption for transactions under $200 might function, addressing the long-standing industry argument that small Bitcoin and stablecoin payments should not trigger reporting burdens. Regulated payment stablecoins would incur no gain or loss unless cost basis falls below 99% of redemption

05-21Industry

Fireblocks Enters x402 Foundation with New AI Payments Suite

Tech  Fireblocks Enters x402 Foundation with New AI Payments SuiteFireblocks launched an Agentic Payments Suite to support AI-driven blockchain transactions.The company joined the x402 Foundation to help promote a standard payment protocol for AI agents.The new platform includes wallet infrastructure for AI agents to send and receive funds securely.Fireblocks added compliance and settlement tools to support regulated financial institutions.The framework focuses on expanding stablecoin adoption through AI-powered payments.  Fireblocks has launched a new AI-focused payments framework and joined the x402 Foundation to expand agent-driven blockchain transactions. The company introduced its Agentic Payments Suite to support the x402 protocol and stablecoin usage. Fireblocks x402 Foundation integration aims to build infrastructure for AI agents to send and receive payments.  The company said its platform covers the full lifecycle of AI agent payments. It includes wallet infrastructure, merchant acceptance tools, and compliance features.  Fireblocks, x402 Foundation Partnership Advances AI Payments  Fireblocks designed the Agentic Payments Suite to support machine-driven financial activity. The framework enables AI agents to execute transactions using blockchain-based assets.  The suite provides wallets for agents to send funds securely. It also includes an acceptance layer that allows merchants to receive payments from AI systems.  Fireblocks added compliance and settlement tools for regulated institutions. These features aim to

05-21Industry

Solana Price Prediction Turns Careful as SOL Drops to $85 Despite ETF Inflows, While Pepeto Crosses $10 Million Before Binance Listing

Tech  Solana Price Prediction Turns Careful as SOL Drops to $85 Despite ETF Inflows, While Pepeto Crosses $10 Million Before Binance Listing  The post Solana Price Prediction Turns Careful as SOL Drops to $85 Despite ETF Inflows, While Pepeto Crosses $10 Million Before Binance Listing appeared first on Coinpedia Fintech News  The Solana price prediction faces new pressure as SOL fell to $85.45 during a wider crypto drop, even as spot ETFs pulled in $100 million across 11 straight positive days earlier this month.  Any real Solana price prediction has to weigh that big money interest against a $50 billion market cap that limits how much SOL can grow from here, and Pepeto has raised more than $10 million with a Binance listing getting closer.  Solana ETFs Break Inflow Streak as the CLARITY Act Clears Committee  Solana spot ETFs logged 11 straight positive days in May, pulling in $100 million in total flows according to 24/7 Wall St.  Dartmouth College disclosed a $3.3 million position in the Bitwise Solana Staking ETF on May 14, the same day the Senate Banking Committee passed the CLARITY Act 15 to 9 according to Investing News, giving tokens like SOL a clearer path to being treated as a commodity.  The Solana price

05-21Industry

OpenAI Reveals Plans to File for IPO Like Anthropic and SpaceX: WSJ

Tech  OpenAI Reveals Plans to File for IPO Like Anthropic and SpaceX: WSJ  Sam Altmans OpenAI is preparing to confidentially file a draft prospectus for an initial public offering as soon as Friday, according to reports citing people familiar with the matter. The move would place the ChatGPT maker among several large technology companies preparing for public listings in 2026.  The company is with Goldman Sachs and Morgan Stanley on the planned filing. A public debut could take place later this year, though the schedule may change because the process is still private and subject to market conditions, regulatory review and internal planning.  OpenAI is valued at more than $850 billion by private investors, according to the reports. A listing at or near that level would make it one of the largest technology IPOs ever and would give public investors direct exposure to one of the main companies behind the artificial intelligence boom.  OpenAI IPO Filing Could Come This Week  The confidential filing would allow OpenAI to begin the SEC review process without immediately making its full financial details public. Companies often use confidential filings to prepare for an IPO while assessing investor demand and market conditions.  An OpenAI representative said the company regularly evaluates strategic options

05-21Industry

Shai-Hulud: What to Know About the Malware Spreading Through Software Pipelines

In briefShai-Hulud malware has been linked to roughly 300 npm and PyPI package entries.OpenAI, Microsoft, and Mistral AI disclosed recent Shai-Hulud-related incidents.The malware abused GitHub Actions and trusted software publishing workflows.  A malware campaign known as “Shai-Hulud” is spreading through the software pipelines developers use to build and distribute code, raising new concerns about how much of the modern internet now depends on automated systems operating with little direct human oversight.  Researchers linked the Shai-Hulud malware campaign to roughly 320 package entries across Node Package Manager (NPM) and PyPI, two of the largest online repositories developers use to download and share JavaScript and Python software packages. The affected packages collectively account for more than 518 million monthly downloads.  “Shai-Hulud is significant because it exposes a problem we cannot fully patch away: modern software is built by running other people‘s code,” Jeff Williams, CTO of California-based security firm Contrast Security, told Decrypt. “Developers do not merely ’download libraries. They install them, build with them, test with them, deploy with them, and eventually execute them. And if you run a malicious library, it can do almost anything you can do.”  Advances in artificial intelligence complicate the threat, Williams said, comparing Shai-Hulud to making a computer a

05-21Industry
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