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CFTC backs prediction market Kalshi in appeals court fight against Ohio

The US Commodity Futures Trading Commission has backed Kalshi in the companys legal fight against the state of Ohio, asking an appeals court to affirm that the regulator has jurisdiction over prediction markets.　　The CFTC filed an amicus brief in the Sixth Circuit Court of Appeals on Tuesday, accusing Ohio of “jurisdictional overreach” after state authorities told Kalshi last year to stop offering sports event contracts in the state, calling them unlicensed sports gambling.　　Kalshi sued Ohio authorities in October, seeking to have a federal court stop the Ohio Casino Control Commission and the state attorney general from taking action, but the court denied the request in March, leading Kalshi to appeal the decision.　　“The federal district court in Ohio took an improperly narrow view of the Commission‘s jurisdiction, and we are asking the Court of Appeals to correct that error,” CFTC Chairman Mike Selig said in a statement. “As I’ve said repeatedly, the CFTC will not allow overzealous state governments to undermine the agencys longstanding authority over these markets.”　　The dispute is one of many similar cases determining whether states have the power to restrict federally regulated prediction markets and has implications for major prediction market platforms such as Kalshi and Polymarket.　　The CFTCs

05-13

Galaxy SharpLink fund targets $125M DeFi yield

Galaxy Digital and SharpLink have launched the Galaxy SharpLink Onchain Yield Fund with $125 million to deploy into DeFi protocols.SharpLink will commit $100 million from its staked ETH treasury to the fund, with Galaxy Digital contributing $25 million and managing investments.Capital will be deployed across DeFi liquidity protocols and onchain yield strategies while maintaining SharpLinks core Ethereum exposure.SharpLink holds 872,984 ETH in treasury and has generated 18,800 ETH in staking rewards since launching its Ethereum strategy in June 2025.　　Galaxy Digital and SharpLink announced a non-binding agreement on May 11 to launch the Galaxy Sharplink Onchain Yield Fund, a $125 million limited partnership structured to put part of SharpLinks staked Ethereum treasury to work across DeFi strategies. Galaxy will serve as investment manager.　　SharpLink will contribute $100 million from its staked ETH position, with Galaxy adding $25 million of its own capital. Mike Novogratz, founder and CEO of Galaxy, said the infrastructure for institutional DeFi participation “has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets.”　　What the fund will do　　The fund will deploy capital across DeFi liquidity protocols and other onchain yield-generating strategies. The structure is designed to keep

05-13

Ethereum Introduces ERC-7730 Standard to Combat Blind Signing Threats

Ethereum　　Ethereum Introduces ERC-7730 Standard to Combat Blind Signing ThreatsEthereum Foundation introduces ERC-7730 standard for transparent wallet transaction approvalsNew protocol addresses dangerous blind signing practices that enable crypto theftClear Signing registry provides human-readable transaction information to wallet usersInitiative responds to major security breaches involving unclear transaction approvalsERC-7730 establishes unified framework for secure transaction confirmation processes　　The Ethereum Foundation has unveiled ERC-7730, an innovative open standard designed to eliminate blind signing vulnerabilities in cryptocurrency transactions. This initiative, supported by the Foundations Trillion Dollar Security Initiative, directly addresses security weaknesses that have enabled significant crypto theft incidents, including the devastating Bybit breach.　　Understanding the ERC-7730 Clear Transaction Framework　　The ERC-7730 protocol addresses a critical vulnerability in how cryptocurrency wallets handle transaction approvals. Currently, countless users authorize transactions without comprehending the underlying actions theyre confirming. This confusion creates opportunities for malicious actors to exploit unclear approval processes and drain user funds.　　ERC-7730 establishes a standardized framework for presenting transaction information in plain language. Rather than displaying cryptic technical code, wallets can now show understandable descriptions of each transactions purpose and consequences. This transparency enables users to make informed decisions before permanently committing transactions to the blockchain.　　The protocol integrates seamlessly with existing Ethereum infrastructure without demanding extensive smart contract

05-13

Ethereum Targets 200M Gas Limit Ahead of Glamsterdam Upgrade

The Ethereum Foundation has reached a significant milestone ahead of its upcoming Glamsterdam upgrade, hitting a 200 million gas limit floor. This marks a major leap from the current limit of roughly 60 million, signaling a substantial improvement in network capacity and transaction processing speeds.　　Initially slated for June 2026, the Glamsterdam upgrade is now expected to roll out in Q3. According to the Ethereum Foundation, the update will “fundamentally update how Ethereum creates and verifies blocks” by overhauling transaction processing and database management on the layer-1 chain. Glamsterdam devnets are already live, paving the way for testing and refinement.　　Technical Developments: ePBS and EIP-8037　　Among the technical advancements is the stabilization of enshrined Proposer-Builder Separation (ePBS). Unlike its predecessor, ePBS integrates block-building separation directly into Ethereum‘s protocol, minimizing reliance on external relays. This enhancement bolsters the network’s ability to handle larger blocks while maintaining security and decentralization.　　Another finalized proposal, EIP-8037, introduces smarter pricing mechanisms for data storage. By increasing costs for state creation operations, the proposal mitigates excessive state growth, a key concern as block gas limits expand. These improvements streamline Ethereums infrastructure, preparing it for higher throughput and sustained scalability.　　Leadership Changes in Ethereum Foundation　　The Ethereum Foundation is also undergoing a leadership

05-13

Garrett Jin Ethereum whale moves $1.35B to Binance

Ethereum whale Garrett Jin moved 577,896 ETH worth $1.35 billion to Binance over four days, per Lookonchain.Garrett Jin transferred his entire 577,896 ETH position to Binance over four days, accumulating an estimated $1.3 billion in unrealized losses.Jin originally swapped Bitcoin for ETH eight months ago at around $4,591, well above the current trading price of approximately $2,300.Total Ethereum exchange reserves climbed from 14.36 million to 14.95 million ETH since May 5, per CryptoQuant data, adding supply pressure.　　An Ethereum whale identified as Garrett Jin deposited all 577,896 ETH worth roughly $1.35 billion into Binance over four consecutive days, raising concerns about potential selling pressure. Lookonchain flagged the transfers on May 10 and 11.　　Jin originally converted Bitcoin to Ethereum eight months ago when ETH was trading at approximately $4,591. With ETH now holding near $2,300, Lookonchain noted he is sitting on roughly $1.3 billion in unrealized losses. His position represents one of the largest single-wallet inflows to a centralised exchange in Ethereums recent trading history.　　Why this move is triggering concern　　A transfer to an exchange does not guarantee an immediate sale. Whales sometimes move funds for collateral posting, liquidity management, or OTC desk activity. The scale and the fact that Jin moved his

05-13

GameStop’s $56B Bid for eBay Rejected Over Funding Fears

eBay rejected GameStops $56B bid, citing weak financing certainty and rising execution risks.Investors questioned GameStops debt-heavy takeover plan as both stocks faced market pressure.Analysts doubted synergies between GameStop and eBay, fueling skepticism over the merger plan.　　eBay rejected GameStop‘s $56 billion takeover proposal on Tuesday, calling the unsolicited offer “neither credible nor attractive.” The move sets up a setback for GameStop’s attempt to acquire the online marketplace, as investors reassess the feasibility of the deal across U.S. equity markets. GameStop proposed a $125 per share cash-and-stock offer, but eBay turned it down after reviewing financing and execution risks.　　As per reports, the rejection followed concerns over funding structure, leverage, and operational integration. GameStop CEO Ryan Cohen proposed a mix of cash, stock, and debt financing backed by TD Securities. However, eBay said uncertainty around the financing reduced confidence in the offer. As a result, both stocks traded under pressure as investors widened the gap between the offer price and market valuations.　　Financing Gaps and Credit Concerns Shape Rejection　　eBay chairman Paul Pressler said the board rejected the proposal after an independent review. He stated, “We have concluded that your proposal is neither credible nor attractive.” The company also raised concerns over execution risk and

05-13

US FTC sends compliance letters to Amazon, Alphabet, Apple over new intimate image removal law

The Federal Trade Commission just put the largest tech companies in America on notice. Chairman Andrew N. Ferguson sent compliance letters to Amazon, Alphabet, and Apple, among others, reminding them of their legal obligations under the Take It Down Act, a new federal law that criminalizes the distribution of nonconsensual intimate images online.　　The law, which took effect on May 19, 2025, requires platforms to remove such content within 48 hours of receiving a valid takedown request. Violations carry penalties of up to $43,792 per offense.　　What the Take It Down Act actually requires　　The core mechanism is straightforward. A victim submits a removal request. The platform has 48 hours to take the content down. Failure to comply triggers per-violation fines that could stack up quickly for repeat offenders or platforms that drag their feet.　　The FTCs letters went beyond just Amazon, Alphabet, and Apple. Meta and Microsoft were also among the recipients, making this a sweep across virtually every major consumer technology platform in the US.　　The FTCs broader crackdown on Big Tech behavior　　The compliance letters about TIDA werent the only recent warnings the FTC has fired off at these companies. Separately, the commission has cautioned the same firms against weakening US consumer data

05-13

Institutions rush into Chainlink - Is LINK entering a new phase?

Chainlinks [LINK] recent activity surge increasingly reflected a deeper institutional shift toward trusted cross-chain infrastructure.　　That momentum accelerated after several DeFi platforms reassessed interoperability risks following the April Kelp DAO exploit.　　Soon after, daily active addresses climbed to 282,170 on the 9th of May before holding near 264,090 on the 10th of May. Those marked the networks strongest participation levels since September 2025.　　Source: Santiment　　The spike followed Solv Protocol‘s migration of more than $700 million in tokenized Bitcoin assets toward Chainlink CCIP. Kelp DAO’s planned rsETH migration strengthened that trend further, reinforcing preference for battle-tested interoperability systems.　　Earlier whale accumulation added another layer of conviction, with large wallets accumulating 32.93 million LINK across 30 days. Still, sustaining momentum now depends on broader market stability and continued infrastructure demand.　　RWA growth deepens Chainlinks institutional infrastructure role　　That institutional migration toward Chainlink increasingly expanded beyond interoperability and into the rapidly growing tokenized asset economy.　　As capital entered blockchain settlement systems, institutions increasingly needed reliable pricing, reserve verification, and compliant cross-chain infrastructure.　　Chainlink steadily absorbed that demand. The network enabled more than $30 trillion in cumulative transaction value while securing tens of billions in total value secured.　　Source: CoinGecko　　Meanwhile, according to LINK‘s Q1 report, CCIP processed over $18 billion in Q1 2026

05-13

Google thwarts hacker groups AI-driven mass exploitation plan

Google says it likely stopped a criminal hacking group from using artificial intelligence to orchestrate a mass exploitation attack, one that specifically targeted the bypass of two-factor authentication through a zero-day vulnerability. The intervention, disclosed by Googles Threat Intelligence Group, offers a concrete look at how AI is reshaping the cat-and-mouse game between attackers and defenders in cybersecurity.　　What happened and why it matters　　Google‘s Threat Intelligence Group identified a hacking operation that leveraged AI tools to research and plan the exploitation of a zero-day flaw. The attackers were using AI to find a previously unknown software vulnerability, then automating the process of weaponizing it at scale, specifically to defeat 2FA protections. Google’s defenses caught and neutralized the attempt before it could be deployed broadly.　　Googles analysts linked the broader trend of AI-assisted hacking to state-sponsored actors, particularly groups associated with Iran, China, North Korea, and Russia. These advanced persistent threat (APT) groups have been increasingly integrating AI into their operations, using it for reconnaissance, vulnerability research, and automating tasks that previously required significant human effort.　　Googles analysts noted that APT and information operations actors are using AI to accelerate routine hacking tasks rather than inventing entirely new categories of attack. The threats themselves

05-13

JPMorgan (JPM) to launch new tokenized fund as Wall Street tokenization race heats up

JPMorgan (JPM) is preparing to launch a tokenized money market fund, the latest sign that major financial institutions and Wall Street asset managers are speeding up efforts to move traditional assets onto blockchain rails.　　A Tuesday filing with the U.S. Securities and Exchange Commission SEC) outlined plans for a blockchain-based money-market fund investing exclusively in short-term U.S. Treasuries, cash and overnight repo agreements backed by government securities.　　The fund, dubbed JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), will maintain blockchain-based token balances tied to investors‘ ownership records, allowing approved users to submit purchase, redemption and transfer requests through Ethereum, the filing said. The underlying blockchain infrastructure will be operated by Kinexys Digital Assets, JPMorgan’s blockchain unit formerly known as Onyx.　　The fund is structured to satisfy reserve asset requirements under the GENIUS Act, legislation aimed at regulating stablecoin issuers in the U.S. That could position the product as a yield-bearing reserve vehicle for stablecoin firms seeking compliant Treasury exposure.　　The move comes only days after BlackRock (BLK), the worlds largest asset manager, filed paperwork for a new tokenized Treasury reserve vehicle and blockchain-based shares of an existing $7 billion money-market fund.　　Tokenization — the process of creating blockchain-based representations of traditional financial assets — has

05-13

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