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1. KuCoin and 2 of its founders indicted on criminal charges in the US
-- Allegedly operated without a license for transmitting money and failed to establish an anti-money laundering (AML) program compliant with the Bank Secrecy Act
-- In a separate lawsuit, CFTC alleges KuCoin was illegally operating a digital asset derivatives exchange and failed to implement KYC procedures; also asserts that Bitcoin, Ethereum, and Litecoin are commodities
2. SEC seeks $1.95B in fines from Ripple for alleged misconduct related to the sale of XRP, which the SEC considers an unregistered security
3. Sam Bankman sentenced to 25 years in prison for FTX
-- Judge ordering him to pay back up to $11B in restitution for defrauding customers, investors, and lenders
-- Prosecutors argued for a 40-50 year sentence, while the defense suggested around 6.5 years
4. Phillipines moving to block Binance in the country for operating without a license
5. US and UK investigating $20B worth of Tether passing through a sanctioned Russian exchange
-- Too early to determine Tether's parent company's involvement
6. Judge rules against Custodia Bank in case against the Federal Reserve
-- Custodia had sued the Federal Reserve for delaying a decision on their application for a master account
-- Court dismissed their claim under the Administrative Procedures Act
-- Custodia is considering appealing the decision
7. EU committees approve ban on anonymous crypto transactions via hosted wallets
1. Polygon's zkEVM experiences a 12 hour outage
-- Due to issues with its blockchain sequencer
-- Polygon working on a resolution and planning a post-mortem statement
2. Ethereum blobs already facing challenges
-- Ethscriptions created a way to mint inscriptions on blobs, which are cost-saving packets of data introduced in Ethereum’s recent Dencun upgrade
-- Inscriptions drove the price of blobspace from <$0.01 to $1.69 (peak)
3. Fantom set to release Sonic upgrade
-- Aiming to achieve 2000 TPS with 1 second finality
4. NEAR Foundation introduces Chain Signatures for cross-chain transactions
-- Allows users to sign transactions on various blockchains using a single NEAR account via a decentralized MPC network
5. After Solana, Base sees transaction and DEX volumes surge to new all-time highs courtesy of memecoins
6. Vitalik Buterin suggests penalizing validators for correlated failures to incentivize decentralization
-- The proposal aims to reduce advantages of staking pools and encourage solo staking by introducing penalties for clustered failures
7. Tether plans to develop open-source AI models
8. Spectral Labs releases AI-powered co-pilot for smart contracts
-- Can generate Solidity code, compile, test for vulnerabilities, and deploy contracts directly on-chain
1. London Stock Exchange picks May 28 as start date for crypto ETN trading
2. UK Treasury publishes new report on fund tokenization
-- Highlighted potential use cases of fund tokenization including leveraging tokens as collateral for money market funds and enhancing market efficiency
3. BlackRock's tokenized investment fund focusing on US Treasury Bills garners $245M in deposits in 1st week
4. Multicoin Capital's hedge fund has grown 9281% since 2017
5. 1k(x) raises $75M for new oversubscribed fund
-- Notable investors include Accolade Partners (anchor LP), Marc Andreessen, and Galaxy Digital
6. Grayscale launching staking rewards fund for accredited investors
7. Crypto influencer Cobie launches beta version of collective investment platform Echo
8. OKX's Global Compliance Chief leaves job after just 6 months
1. Blast-based web3 gaming platform Munchables loses $60M in exploit
-- The funds were eventually returned after negotiations
2. Prisma Finance hacked for $11M
-- Hacker demanded a public apology and press conference from the protocol team before considering returning the funds, claiming to be a "white-hat" hacker
-- Hacker has already moved $6.5M to crypto mixer Tornado Cash, raising skepticism about his/her true intentions
3. RippleX has identified a technical issue affecting AMM pools on the XRP Ledger, prompting users not to deposit funds into the affected pools
1. Detecting financial bots on Ethereum (source)
-- Establishes a taxonomy of financial bots
-- Use a ground-truth dataset consisting of 133 human and 137 bot addresses to build an AI model that can detect financial bots
2. Quantifying arbitrage in AMMs on zk-rollups (source)
-- Empirically measures the Maximal Arbitrage Value available between SyncSwap, an AMM on zkSync Era, and Binance
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