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Bank of England (BOE) Governor Andrew Bailey stated at a recent conference that issues related to stablecoins are an important matter to coordinate with the U.S. administration, Reuters reported. He warned that if the redemption capability of dollar-pegged stablecoins were to be paralyzed, a resulting bank run could lead to a significant influx of funds into the UK. Bailey also pointed out that the proposed U.S. stablecoin regulation, the GENIUS Act, has loopholes concerning guaranteed redemptions.

U.S. President Donald Trump said he will continue negotiations with Iran until an agreement is reached, Fox News reported.

U.S. President Donald Trump told Fox News that Iran's hardline leadership will eventually yield.

U.S. President Donald Trump said in an interview with Fox News that he is considering resuming Project Freedom. He emphasized that the U.S. must recover and remove nuclear dust from Iran's destroyed nuclear facilities, adding that Iran lacks the technology to do so. The U.S. launched Project Freedom on May 4 to rescue ships isolated in Hormuz but abruptly suspended the operation two days later. Speculation that the U.S. might reconsider the operation has been growing since Saudi Arabia and Kuwait reauthorized the use of their bases and airspace for the U.S. military on May 7.

American Bankers Association (ABA) CEO Rob Nichols warned in a recent open letter to major bank CEOs that the Clarity Act, if passed without further amendments, would unnecessarily encourage an outflow of bank deposits into payment stablecoins. He argued this would endanger both U.S. economic growth and financial stability. Nichols added that the bill in its current form would not prevent crypto firms from offering interest-like rewards on stablecoins and called for stronger regulations on the matter.

Solana has officially begun testing its 'Alpenglow' upgrade, described as the largest consensus algorithm overhaul in the network's history, CoinDesk reported. Anza, one of Solana's core development teams, announced on X today that "Alpenglow is now live on the community test cluster." The move allows validator operators to test Solana's latest consensus system, which combines the existing Proof-of-Stake (PoS) mechanism with TowerBFT and Proof-of-History. According to CoinDesk, the upgrade focuses on replacing major components of the Solana blockchain with a redesigned framework. This is intended to enable validators to communicate and scale blocks more quickly and efficiently, with the ultimate goal of reducing transaction finality times from several seconds to near real-time.

Iran is demanding sovereignty over the Strait of Hormuz as part of its latest response to a U.S. proposal to end the war, CNN reported, citing Iranian state media. The strait is located between Iran and Oman at a point where their Exclusive Economic Zones (EEZ) intersect. Its narrowness provides limited room for ships to maneuver and insufficient warning time to evade threats, creating a geographically advantageous position for potential Iranian attacks on vessels. According to the UN Convention on the Law of the Sea (UNCLOS), coastal nations hold sovereign rights for exploring, exploiting, conserving, and managing marine resources within their EEZ. However, the convention also guarantees the right of innocent passage for ships of all nations through territorial waters. While it stipulates that coastal states must not impede the normal passage of foreign vessels, it does permit them to take necessary measures to prevent non-innocent passage under certain circumstances.

An anonymous Solana (SOL) whale address starting with 8uAXw has withdrawn 199 million PENGU, worth $2.04 million, from Binance across three transactions that began about an hour ago. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

Whale Alert reported that 205,000,000 USDC has been transferred from Ethena to Paxos. The transaction is valued at about $205 million.

Venture capital firm a16z Crypto has explained the reasoning behind its $75 million investment in Circle's new Layer 1 blockchain, Arc, stating that the chain can meet the regulatory and technical demands of large institutions where existing blockchains fall short. According to a16z Crypto partners Ali Yahya and Noah Levine, while stablecoin annual transaction volume has grown to nearly $9 trillion—rivaling Visa and PayPal—the underlying infrastructure was designed for retail investors. They noted that with USDC circulation over $27 billion and most cross-chain liquidity handled by Circle's Cross-Chain Transfer Protocol (CCTP), Arc is positioned to fill this institutional gap. The firm believes a few blockchains will become the backbone of the global financial system and that Arc is likely to be one of them, citing Circle's hard-to-replicate advantages.

An anonymous whale address starting with 0x46D has withdrawn 7,240 ETH, worth $16.87 million, from Bybit and OKX over the past 20 minutes at an average price of $2,330, on-chain analyst ai_9684xtpa reported via X. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

Ondo Finance (ONDO) announced it will support a bridge enabling the transfer of 35 stock tokens to Hyperliquid's (HYPE) HyperEVM, utilizing technology from LayerZero (ZRO). This move will allow 35 stock and ETF tokens from Ondo Finance to be traded on Hyperliquid. Ondo Finance's stock token platform, Ondo Global Markets, currently holds $970 million in Total Value Locked (TVL) and has recorded a cumulative trading volume of $18 billion.

Zcash (ZEC) mining is currently more than four times as profitable as Bitcoin (BTC) based on power efficiency, according to a recent analysis. The Zcash network hashrate has also doubled since September of last year.

The three major U.S. stock indices opened lower today. - S&P 500: -0.18% - Nasdaq: -0.41% - Dow Jones: -0.01%

Global cryptocurrency payments firm MoonPay has acquired AI trading startup Dawn Labs and launched an AI-powered trading tool called "Dawn CLI," according to Decrypt. The tool allows users to input strategies in natural language, which an AI then automatically converts into executable trading code. The initial platform supported is the prediction market Polymarket. MoonPay explained that the tool simplifies system trading—which previously required a combination of development, quantitative analysis, and portfolio management skills—into a single interface. The company added that it plans to manage risks associated with AI malfunctions and excessive trading by implementing a non-custodial wallet structure and trade limit policies.

Binance announced it has blocked over 22.9 million AI-based fraud and phishing attacks, preventing an estimated $10.53 billion in potential damages, according to its latest security report. The exchange currently utilizes more than 24 AI security systems and over 100 AI models, which helped protect the assets of approximately 5.4 million users in the first quarter of this year. Additionally, Binance reported sending an average of more than 9,600 real-time risk alerts daily and has blacklisted over 36,000 malicious addresses. Binance noted a rapid increase in cryptocurrency scams that use AI deepfakes, voice cloning, and phishing bots, explaining that crypto-related fraud amounted to approximately $17 billion in 2025, a roughly 30% increase from the previous year.

Bitmine (BMNR), led by Tom Lee, announced it has recently slowed its pace of ETH purchases. The company acquired approximately 26,659 ETH, valued at around $63 million, last week—a figure roughly one-fourth of its recent weekly average of 100,000 ETH. The company's total ETH holdings now stand at approximately 5.2 million, accounting for about 4.31% of the total circulating supply. Bitmine Chairman Tom Lee explained that the company decided to adjust its weekly purchase pace as it nears its goal of securing 5% of the total ETH supply. Bitmine added that it has purchased over one million ETH so far this year and is currently staking more than 4.7 million ETH, representing about 90% of its total holdings.

Strategy (MSTR) is holding an unrealized profit of approximately $4.54 billion on its Bitcoin holdings, while Bitmine (BMNR) has an unrealized loss of about $6.297 billion on its Ethereum position, according to EmberCN. Strategy holds 818,869 BTC at an average purchase price of $75,540, while Bitmine holds 5,206,790 ETH, acquired at an average price of $3,539.

C1 Fund, a digital asset investment firm listed on the New York Stock Exchange, announced in its 2025 annual results that it has invested in major cryptocurrency companies including Ripple, Kraken, and Consensys. According to the filing, the fund's net asset value (NAV) was approximately $52.05 million as of the end of last year. Its invested assets totaled around $30.48 million, accounting for about 58.4% of its total net assets. The firm also stated that it has signed seven follow-on private investment deals in the months since its IPO and is continuing to increase its allocation to digital asset infrastructure companies.

Bitmine (BMNR) announced it purchased an additional 26,659 ETH last week. This brings its total holdings to 5,206,790 ETH as of May 10, representing 4.31% of the total ETH supply. Additionally, the company is staking 4,712,917 ETH, which accounts for approximately 90% of its holdings.

Circle (CRCL) has announced the launch of its Circle Agent Stack, a solution designed to support the autonomous economic activities of AI agents. The stack includes dedicated wallets, micropayment services, and a marketplace, providing a machine economy-focused infrastructure that enables AI agents to directly manage and transact assets.

Sharplink Gaming (SBET), a firm known for accumulating Ethereum, announced that it held 872,984 ETH as of the first quarter of this year. The company emphasized that despite incurring a net loss of $685.6 million from the decline in ETH's price, its holdings have not changed. Sharplink previously announced it would establish a $125 million DeFi fund with Galaxy (GLXY).

Galaxy, founded by Mike Novogratz, and Ethereum treasury firm Sharplink have announced plans to launch a $125 million decentralized finance (DeFi) yield fund. The fund, named the Galaxy Sharplink Onchain Yield Fund, will be seeded with $100 million from Sharplink's ETH treasury and $25 million from Galaxy, with Galaxy serving as the sole manager. Sharplink, which currently manages an ETH treasury of approximately $2.1 billion, explained that it plans to expand beyond its existing staking strategy into more active DeFi yield strategies such as lending and liquidity provision. Sharplink CEO Joseph Chalom said the goal is to make the company's ETH productive beyond simply holding it, adding that they will focus investments on DeFi protocols that meet institutional-grade security standards.

Whale Alert reported that 1,000 million USDT has been minted at the Tether Treasury.

Ronin (RON) will conduct a hard fork on May 12 to transition into an Ethereum Layer 2 network, CoinDesk reported. The move aims to enhance security and improve tokenomics and scalability following a major bridge hack in 2022. Ronin stated that adopting the OP Stack will allow it to leverage Ethereum's security and transaction throughput. Following the hard fork, the network will also implement a new staking reward model based on contributions.