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bitcoinist.com Drift Protocol Releases Recovery Plan After $295 Million Exploit—Key Details

Drift Protocol announced on Tuesday that it has laid out a recovery plan for users affected by the April 1 exploit, an incident that resulted in a major loss of roughly $295 million in user funds on the lending decentralized exchange (DEX). Drift Protocol’s $295M Recovery Plan Drift Protocol’s plan centers on a recovery token […]

forklog.media State Street and Galaxy Launch Tokenized Fund on Solana

Financial giant State Street and Galaxy have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) — a tool for 24/7 liquidity management using stablecoins. The total market value of stablecoins has exceeded $300 billion, with a 0.22% increase over the past 30 days. Source: RWA.xyz. The fund operates on Solana; plans include support for Stellar and Ethereum. Galaxy provided the technological foundation for tokenization. Investors can use the stablecoin PYUSD for subscribing to and redeeming fund shares. The tool is available to qualified investors. According to RWA.xyz, PayPal's stablecoin capitalization stands at $2.7 billion. Source: RWA.xyz. The project's infrastructure includes solutions from Chainlink for publishing net asset values and cross-chain interactions. State Street Bank acts as the custodian of securities, while Anchorage handles the custody of digital assets. State Street representatives described the launch as a significant step in the company's strategy to implement blockchain solutions for institutional clients. Galaxy's CEO, Mike Novogratz, added that SWEEP is a practical example of the convergence of traditional finance and cryptocurrency. Back in September 2025, Galaxy tokenized its own GLXY shares on Solana, partnering with Superstate for the initiative. In December, JPMorgan issued tokenized commercial papers worth $50 million on the "people's cryptocurrency" network for Novogratz's company.

forklog.media Strategy Considers Bitcoin Sale Amid $12.7 Billion Quarterly Loss

Strategy may sell a portion of its bitcoin holdings to pay dividends on perpetual preferred shares of STRC, according to the firm's founder, Michael Saylor.  Tune into @Strategy's Q1 Earnings Call live now on X. We'll cover:-Q1 financial results-Digital Credit $STRC-Digital Equity $MSTR Followed by a live Q&A;!https://t.co/j4rKKAvU0A— Strategy (@Strategy) May 5, 2026 STRC is a component of Strategy's "digital credit" strategy. The company issues high-yield securities, attracting capital from income-focused investors, and then uses the funds to purchase bitcoin. Since its inception, the instrument has generated approximately $8.5 billion for the firm. STRC dynamics. Source: STRC.live.  Dividends on such securities are a regular obligation. Strategy has primarily financed bitcoin purchases through the issuance of shares and debt instruments, but now the company has more flexibility, its management emphasized during the first-quarter earnings call.  Top executives noted that if necessary, dividends could be covered not by selling MSTR shares, but by a small portion of bitcoin reserves. "We will likely take this step to finance dividends, [...] to make it clear that we have done so. Everyone will understand that the organization is fine, bitcoin is fine, the industry is fine, the world has not collapsed," Saylor noted. He added that with the current treasury volume, the asset needs to appreciate by about 2.3% annually for Strategy to cover STRC dividend obligations from its reserves without selling common shares. Shift in Position and Financial Results  Previously, Saylor had repeatedly emphasized that the company did not intend to sell bitcoins and was building a strategy around the long-term accumulation of the first cryptocurrency. The firm's CEO, Phong Le, clarified that Strategy would sell coins if it benefits the business. The goal, he said, remains the same: to increase reserves, boost the number of bitcoins per share, and remain a net accumulator of digital gold. Currently, Strategy holds 818,334 BTC (approximately $66.6 billion). In the first quarter, the company acquired 89,599 BTC, and at the beginning of the second quarter, an additional 56,235 BTC. Source: BitcoinTreasuries.  The firm reported a net loss of $12.77 billion for the first three months of 2026. The main reason was "paper" losses from the revaluation of bitcoin reserves amid a decline in the asset's price.   MSTR shares closed the latest session at $186.9, gaining 1.7% for the day. Over the past month, the shares have risen by 46%, but remain down 26.7% over six months. Source: Yahoo Finance.  Back in December 2025, Strategy created a $1.44 billion reserve for dividend payments. At that time, the company confirmed for the first time its readiness to sell part of its bitcoins. 

bitcoinist.com Spain’s Sabadell To Join Qivalis Consortium For Major Euro Stablecoin Push

Spanish bank Sabadell is the latest to join a consortium of European banks seeking to launch a euro-pegged stablecoin to make transactions more efficient and increase the dominance of Europe’s digital assets market. Related Reading: WLFI Drama Escalates: World Liberty Sues Justin Sun Over ‘Reckless’ Smear Campaign Sabadell Joins European Banking Consortium On Tuesday, Spain’s […]

news.bitcoin.com Strategy May Sell Bitcoin to Fund Dividends, Saylor Breaks From ‘Never Sell’ Stance

Michael Saylor has signaled that Strategy, the world’s largest corporate bitcoin holder, may sell a portion of its BTC to meet preferred stock dividend obligations, a significant departure from the firm’s founding promise to never liquidate its cryptocurrency reserves. Key Takeaways: Saylor said Strategy may sell BTC to pay dividends in May 2026, reversing its […]

blockonomi.com Bitcoin Breaks $81K: BTC Dominance Tops 61% as Altcoins Show Early Signs of Recovery

TLDR: Bitcoin has gained roughly 36% since its February 6 low, breaking above the $81,000 price level. BTC dominance has surpassed 61.3%, returning to levels last recorded in November 2025 amid tight capital flows. Altcoins reclaiming their 200-day MA on Binance rose from 2.3% to 11.7%, breaking a downtrend since October 2025. Altcoin trading volume [...] The post Bitcoin Breaks $81K: BTC Dominance Tops 61% as Altcoins Show Early Signs of Recovery appeared first on Blockonomi.

blockonomi.com GENIUS Act Framework: Circle Backs OCC’s Stablecoin Licensing Proposal

TLDR: Circle submitted comments to the OCC backing its proposed rule implementing the landmark GENIUS Act stablecoin framework. The company called for uniform prudential standards across all issuers, whether bank or nonbank, state, federal, or foreign. Circle drew a clear distinction between payment stablecoins and tokenized deposits, urging separate regulatory treatment for each. Consumer redemption [...] The post GENIUS Act Framework: Circle Backs OCC’s Stablecoin Licensing Proposal appeared first on Blockonomi.

themerkle.com $150M Crypto Ponzi Scheme Crumbles, Forming Global Fraud Network As Investigators Freeze $41.5M

The suspicious DSJ Exchange (DSJEX) and BG Wealth Sharing scheme, now confirmed a Ponzi operation, has collapsed after illegally siphoning over $150 million from victims since appearing in 2025. Thorough on-chain analysis of this investigation revealed extensive laundering activity, hundreds of millions in cross-chain asset transfers, and a concerted effort to disguise transaction histories. Although the structure of this scheme was relatively simple, its large scale tells a darker story: thousands of people, many recruited through social media, were seduced. This case is different not only because of the huge amount of cash but also due to the fact that The post $150M Crypto Ponzi Scheme Crumbles, Forming Global Fraud Network As Investigators Freeze $41.5M appeared first on The Merkle News.

themerkle.com Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce

Coinbase is about to undergo one of its largest structural reorganisations in some time, with CEO Brian Armstrong confirming that the firm will cut around 14% of its workforce. Armstrong calls this decision a “conservative” one based on two converging forces: persistent market volatility and the quickening adoption of AI in the workplace. This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how The post Brian Armstrong Sets Course for AI-Driven Transformation As Coinbase Cuts 14% of Workforce appeared first on The Merkle News.

news.bitcoin.com Zano Prepares Trustless Cross-Chain Bridge for Native ZANO After Hard Fork 6

Zano is set to open native ZANO to EVM networks, TON, and Solana through a non-custodial bridging mechanism tied to its upcoming Hard Fork 6, slated for Q2 2026. Key Takeaways: Zano’s Hard Fork 6, targeted for Q2 2026, introduces Gateway Addresses enabling trustless bridging of native ZANO to EVM, TON, and Solana networks. The […]

blockonomi.com Strategy Plans Bitcoin Sale to Fund Dividends After Recording $12.54B Q1 Loss

TLDR: Strategy reported a $12.54 billion Q1 net loss tied to a decline in bitcoin’s market price this quarter. Michael Saylor proposed selling bitcoin to cover $1.5 billion in annual dividend and debt obligations. Strategy holds 818,334 BTC at an average cost of $75,537, with roughly 18 months of dividend coverage left. MSTR stock fell [...] The post Strategy Plans Bitcoin Sale to Fund Dividends After Recording $12.54B Q1 Loss appeared first on Blockonomi.

bitcoinist.com Moscow Exchange Adds XRP, Solana, Tron And BNB To Crypto Index Push

Moscow Exchange plans to begin calculating and publishing new crypto indices for Solana, XRP, Tron and Binance Coin from May 13, broadening Russia’s regulated market infrastructure for digital-asset-linked products. The move matters because the benchmarks could later serve as reference assets for new financial instruments, even as Russian crypto exposure remains restricted to professional investors. […]

news.bitcoin.com Aave Challenges $71M Freeze, Seeking Fast Ruling to Restart Restitution for Users

On May 4, decentralized finance protocol Aave filed an emergency motion to lift a restraining notice that has frozen $71 million in recovered ethereum. Key Takeaways: Aave filed a May 4 motion to vacate a court order freezing $71 million in ETH recovered from a recent exploit. ZachXBT alleged the freeze involves fraudulent claims, impacting […]

cryptobriefing.com Dan Soder: Timberwolves’ strong team dynamic makes them playoff contenders, Leafs fans should trust new GM despite controversy, and the genius of playing weaker NFL players early in the season | Pardon My Take

Timberwolves' strong team dynamic and resilience could surprise in the closely contested NBA playoffs. The post Dan Soder: Timberwolves’ strong team dynamic makes them playoff contenders, Leafs fans should trust new GM despite controversy, and the genius of playing weaker NFL players early in the season | Pardon My Take appeared first on Crypto Briefing.

bitcoinist.com New Whales Added 150K Bitcoin During The Rally, Old Whales Barely Moved – Discover What That Split Means

Bitcoin is holding above $80,000 as the market tests key resistance and participants debate whether the recovery from the March lows has the foundation for a sustained move higher. The price has recovered 17.5% over the past month — a meaningful move that has shifted sentiment from fearful to cautiously optimistic. But top analyst Carmelo […]

news.bitcoin.com Banks Reject Stablecoin Yield Compromise, Demanding Stricter Crypto Limits

A group of banking associations has recently addressed the public draft of the Clarity Act, which “falls short” of prohibiting the payment of yield and interest on stablecoins. The issue has created a divide among banks, with some supporting and others rejecting the proposal. Key Takeaways: Rejecting the Digital Asset Market Clarity Act over a […]

blockmanity.com Meme Coin Update: Trenches Lag in Sputtering Market, Pump.fun’s App Expansion Brings Fresh Momentum

Meme coins take a breather as global tensions rise The meme coin world felt the chill this week. Trading slowed down a lot because of big problems in the Middle East. But not everything stayed quiet. Some meme coins linked […] The post Meme Coin Update: Trenches Lag in Sputtering Market, Pump.fun’s App Expansion Brings Fresh Momentum appeared first on Blockmanity.

news.bitcoin.com Bullish Announces $4.2B Equiniti Deal to Build Tokenized Securities Transfer Agent

Bullish agreed to buy Equiniti for $4.2 billion, aiming to connect digital assets with shareholder recordkeeping. The deal would create a global transfer agent for tokenized securities and includes $1.85 billion of assumed debt. Key Takeaways: Bullish plans to acquire Equiniti in a $4.2 billion stock-and-debt transaction. Equiniti brings nearly 3,000 issuer clients and more […]