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Investment bank Jefferies predicts that a boom in initial public offerings (IPOs) by cryptocurrency firms will create a market worth $1 trillion within the next five years. According to CoinDesk, there has been a rapid shift in institutional investor interest away from betting on Bitcoin's price volatility and toward the technological infrastructure that integrates blockchain into real-world financial systems such as payments, settlements, and lending. Jefferies explained that a wave of listings from crypto and blockchain companies is expected within the next two years, with the combined market capitalization of these firms projected to reach $1 trillion within five years.

JPMorgan CEO Jamie Dimon suggested the possibility of issuing a stablecoin, Foresight News reported.

Project Agorá, a tokenization initiative led by the Bank for International Settlements (BIS), has found that using tokenized central bank money and commercial bank deposits can significantly improve the speed and reliability of cross-border payments, CoinDesk reported. Backed by major central banks, the project is now set to advance to a real-value testing phase to settle these tokenized assets on a blockchain.

The White House has announced that negotiations regarding Iran's nuclear program are proceeding smoothly, adding that President Donald Trump has clearly established a red line.

Amid price stagnation and declining market share, Ethereum has identified privacy as its next key growth driver. However, some observers believe the network could become obsolete if it fails to deliver tangible progress on this front within 12 months, CryptoSlate reported. The pressure is mounting for Ethereum to secure the transaction confidentiality demanded by institutions to maintain its position as the base settlement layer, especially as privacy-focused assets like Zcash and Monero gain market traction. In response, Ethereum founder Vitalik Buterin has outlined a three-part technical roadmap for privacy, including FOCIL to prevent transaction censorship, Account Abstraction and Keyed Nonces to anonymize account behavior patterns, and Kohaku for wallet-layer privacy.

Total sales of tokenized assets related to Pokémon cards reached an all-time high of $7.4 million in the first week of May, ODaily reported. This figure represents a 337% increase compared to the same period last year. Courtyard leads the market with a 46% share, followed by Collector Crypt at 27% and Phygitals at 26%. The tokenization of rare Pokémon cards addresses the risks of physical trading, such as counterfeiting, shipping accidents, and damage. In this real-world asset (RWA) model, the physical cards are stored in professional vaults while ownership is traded on-chain.

Bitwise, the issuer of the HYPE ETF, has purchased 301,863 HYPE worth $18.43 million over the past three hours, Lookonchain reported.

Bitwise, the issuer of the HYPE ETF, purchased 183,162 HYPE worth $11.31 million from Coinbase and Cumberland, according to Onchain Lens. As of May 25, the company's total holdings have reached 1,037,410 HYPE, valued at $62.92 million.

The White House has indirectly denied a report by Iranian state television regarding a draft memorandum of understanding between the U.S. and Iran, stating that no agreement has been reached, Solid Intel reported.

Block's Cash App has introduced features for depositing, withdrawing, and paying with Circle's USDC stablecoin, CoinDesk reported. The functionality is currently active for 25% of users and is scheduled for a full rollout by this weekend. The service supports multiple networks, including Ethereum, Solana, Polygon, and Arbitrum. Users can deposit USDC from external wallets to top up their fiat balance or withdraw their cash balance as USDC.

More than 40 major exchanges and financial firms, including Coinbase, Kraken, and Binance.US, have launched the Transparency Alliance, CoinDesk reported. The group has adopted the 'Token Transparency Framework,' developed by Blockworks, as its disclosure standard. Already, 44 major protocols, such as Morpho, Jupiter, and dYdX, have completed disclosures according to these criteria. The disclosures go beyond simple technical descriptions to include key data that has often been kept private, such as insider token allocations, contract terms with market makers, exchange listing agreements, and buyback programs.

A hacker who gained access to the private key of a deployer for the crypto liquidity staking platform Stake DAO (SDT) minted 5.4 trillion vsdCRV tokens without authorization. However, the attacker was only able to cash out $91,000 from the exploit due to insufficient liquidity to absorb the massive sell order, Cointelegraph reported. The incident stemmed from a failure in operational security rather than a flaw in the smart contract, as the theft of a single deployer key allowed the unauthorized minting to occur in just 25 seconds.

A HYPE whale identified as bizyugo.hl has unstaked 300,000 HYPE, worth approximately $18.1 million, BlockBeats reported. Even after this move, the whale continues to have more than 700,000 HYPE staked.

The active loan balance on DeFi protocol Aave, at $10.9 billion, represents just 0.38% of the $2.89 trillion in outstanding corporate and industrial (C&I) loans from U.S. commercial banks, according to an analysis by CryptoSlate. The outlet noted that the two are structurally different products. Aave uses an overcollateralized model with automatic liquidation of crypto collateral, while traditional corporate loans are underwritten based on cash flow assessments such as revenue and margins. CryptoSlate projected that in an optimistic scenario, on-chain private credit could grow to between $100 billion and $300 billion, or 3.5% to 10.4% of the C&I market. However, without the necessary regulatory and underwriting infrastructure, the market is more likely to remain between $5 billion and $20 billion, which is less than 0.7% of the traditional market.

Cryptocurrency trading platform Robinhood Crypto announced it now supports USDC trading for users in New York.

Bitcoin has historically tended to experience a bear market throughout the summer when its price closes lower in May, Cointelegraph reported. The outlet noted that BTC is currently down about 10% for the month after failing to break through resistance near $83,000. This trend aligns with the Wall Street adage "Sell in May and go away," which suggests that markets often perform better in winter than in summer. According to the report, in the years when Bitcoin saw a negative return in May—2013, 2015, 2018, 2021, 2022, and 2023—the average return for the following June was -10.1%. However, the analysis also concluded that the strategy is not effective from a long-term perspective and that past data provides no reason for long-term investors to sell their BTC in May.

According to CoinNess market monitoring, BTC has fallen below $75,000. BTC is trading at $74,986.13 on the Binance USDT market.

Prediction market Polymarket has tightened its crackdown on user VPN access and blocked some suspicious accounts, The Information reported. At the same time, the platform has introduced an opt-in option for users to voluntarily submit identity verification information. The move comes amid growing concerns over sanctions violations and legal risks.

The three major U.S. stock indices opened higher today. - S&P 500: +0.07% - Nasdaq: +0.17% - Dow Jones: +0.18%

The U.S. Depository Trust & Clearing Corporation (DTCC) has announced a plan to tokenize assets held in custody by its subsidiary, DTC, on the Stellar network in partnership with the Stellar Development Foundation. The target launch is the first half of 2027, and the tokenized assets will have the same investor protections and rights as traditional securities. Highly liquid assets are being considered for tokenization, including components of the Russell 1000 index, major index-tracking ETFs, and U.S. Treasurys. The DTCC received a no-action letter from the Securities and Exchange Commission (SEC) in December 2025, authorizing it to operate a service for tokenizing custodial assets.

Global payments giant Mastercard has obtained a BitLicense from the New York State Department of Financial Services (NYDFS), CoinDesk reported. The license allows the company to legally operate digital asset-related businesses in the U.S. Mastercard announced today that its U.S. subsidiary, Mastercard Transaction Services, secured the license as part of its efforts to build a blockchain-based payment and settlement infrastructure. Jorn Lambert, Mastercard's Chief Product Officer (CPO), said that a clear regulatory framework is crucial for building trust as new forms of digital value move from experimentation to real-world application.

Circle Technology Services, a subsidiary of Circle Internet Group, has partnered with cross-border payments platform Nium, The Block reported. Nium will join the Circle Payments Network (CPN) as a global payout partner, enabling financial institutions on the network to settle transactions in USDC and then send funds in local currencies to accounts, wallets, and cards.

Synthetic dollar protocol Falcon Finance (FF) announced today the launch of fUSD, a reward-bearing stablecoin, in partnership with U.S. crypto bank Anchorage Digital Bank. Issued by Anchorage, the stablecoin's reserves are managed under the supervision of the U.S. Office of the Comptroller of the Currency (OCC). Deloitte, one of the world's four largest accounting firms, will conduct monthly proof-of-reserve audits. According to Falcon Finance, fUSD is the first stablecoin compliant with U.S. regulations to launch on the infrastructure of institutional custody platform Ceffu. The company also noted that eligible institutional holders can receive a portion of the operating profits from fUSD reserves, targeting an annual yield of 3%.

Solana-based decentralized exchange (DEX) Orca has launched a marketplace for tokenized real-world assets (RWAs), according to CoinDesk. The first asset available for trading is GLDY, a gold-pegged token from the tokenization firm Streamex. Orca's RWA market operates on a permissioned pool system, meaning only approved investors are able to trade.

Bitcoin-focused financial services app Fold has secured a four-year, senior secured revolving credit facility of up to $150 million from Encina Lender Finance, according to a GlobeNewswire press release. The loan, collateralized by consumer credit card receivables, will be used to expand the issuance of its Bitcoin credit card without equity dilution. The card, which operates on the Visa network, offers users up to 4% back in Bitcoin rewards on purchases.