Telegram takes control of TON, replaces TON Foundation
By stepping back in as the largest validator and primary driving force, Telegram is consolidating institutional control over a network it once publicly stepped away from.
TON is now, structurally, Telegram's blockchain. The Foundation that was created to provide institutional distance has been sidelined.
👉 x.com/durov/status/2051315383466897663?s=20
By stepping back in as the largest validator and primary driving force, Telegram is consolidating institutional control over a network it once publicly stepped away from.
TON Foundation was established as an independent non-profit body to steward TON's development after Telegram distanced itself from the project in 2020 following the SEC settlement.
TON is now, structurally, Telegram's blockchain. The Foundation that was created to provide institutional distance has been sidelined.
👉 x.com/durov/status/2051315383466897663?s=20
Haun Ventures raised $1 billion across two new funds
Haun expanding into AI agents and financial infrastructure, betting that the next generation of autonomous software will need financial plumbing before it needs better models.
Haun's previously scored wins with Bridge's $1.1 billion Stripe exit and BVNK's $1.8 billion acquisition by Mastercard.
👉 theblock.co/post/399902/crypto-vc-haun-ventures-raises-1-billion-fund-investing-blockchain-ai
Haun expanding into AI agents and financial infrastructure, betting that the next generation of autonomous software will need financial plumbing before it needs better models.
💰 The fund structure:
→ $500M early-stage | $500M later-stage
→ Focus: crypto infra, RWAs, AI agent financial rails
→ Deployment timeline: 2–3 years, globally
Haun's previously scored wins with Bridge's $1.1 billion Stripe exit and BVNK's $1.8 billion acquisition by Mastercard.
👉 theblock.co/post/399902/crypto-vc-haun-ventures-raises-1-billion-fund-investing-blockchain-ai
DTCC to Launch Tokenized Securities Platform in October
DTCC, the main clearing and custody infrastructure behind U.S. capital markets, will begin live tokenized securities trading in July, with a broader rollout planned for October. The platform will support digital issuance of assets already held in custody, including major equities, ETFs, and U.S. Treasuries.
Unlike synthetic exposure, these tokenized securities keep the same ownership rights and legal protections as traditional assets. The launch follows SEC no-action relief granted in December, allowing DTCC to move forward with tokenization for a defined set of securities.
👉 x.com/The_DTCC/status/2051278748796776680?s=20
DTCC, the main clearing and custody infrastructure behind U.S. capital markets, will begin live tokenized securities trading in July, with a broader rollout planned for October. The platform will support digital issuance of assets already held in custody, including major equities, ETFs, and U.S. Treasuries.
Unlike synthetic exposure, these tokenized securities keep the same ownership rights and legal protections as traditional assets. The launch follows SEC no-action relief granted in December, allowing DTCC to move forward with tokenization for a defined set of securities.
DTCC processes trillions of trades daily and holds custody of more than $114T in securities, making this one of the most significant institutional tokenization moves so far. The platform is being developed with input from over 50 firms, including BlackRock, Goldman Sachs, JPMorgan, Circle, and Anchorage
👉 x.com/The_DTCC/status/2051278748796776680?s=20
Western Union Officially Launches USDPT Stablecoin
Western Union launched its USDPT stablecoin on Solana, designed for faster cross-border settlement across its network in more than 200 countries. USDPT is issued by Anchorage Digital Bank and backed 1:1 by U.S. dollars.
Primary Use Cases:
- Treasury operations and agent clearing
- Near-instant settlement, including weekends and holidays
- Reduced reliance on traditional correspondent banking and SWIFT
- Lower idle balances across global payment flows
Future Rollout:
- Digital Asset Network (DAN): Bridges crypto wallets/exchanges to Western Union’s payout infrastructure for cash on/off-ramps
- Global Exchange Support: Availability on licensed exchanges
- Consumer Features: Stable by Western Union app planned for 2026 in 40+ countries, including a stablecard
👉 x.com/solana/status/2051263551470227705?s=20\
Western Union launched its USDPT stablecoin on Solana, designed for faster cross-border settlement across its network in more than 200 countries. USDPT is issued by Anchorage Digital Bank and backed 1:1 by U.S. dollars.
Primary Use Cases:
- Treasury operations and agent clearing
- Near-instant settlement, including weekends and holidays
- Reduced reliance on traditional correspondent banking and SWIFT
- Lower idle balances across global payment flows
Future Rollout:
- Digital Asset Network (DAN): Bridges crypto wallets/exchanges to Western Union’s payout infrastructure for cash on/off-ramps
- Global Exchange Support: Availability on licensed exchanges
- Consumer Features: Stable by Western Union app planned for 2026 in 40+ countries, including a stablecard
👉 x.com/solana/status/2051263551470227705?s=20\
Top DeFi Protocols by 30-day Total Value Locked growth
Among the top performers are Bitway, a capital gateway connecting on-chain liquidity with global markets, RockawayX, a risk curator on Morpho and other DeFi lending protocols, and KPK, an asset manager for DAOs, institutions and capital allocators.
Among the top performers are Bitway, a capital gateway connecting on-chain liquidity with global markets, RockawayX, a risk curator on Morpho and other DeFi lending protocols, and KPK, an asset manager for DAOs, institutions and capital allocators.
Bullish strikes $4.2B deal for transfer agent Equiniti
This is the biggest M&A deal in crypto infrastructure history. Equiniti is a leading global transfer agent serving nearly 3,000 issuer clients, 15,000 corporate clients, 20 million shareholders, and processing $500B in annual payments.
The combination creates the first fully integrated blockchain-enabled, blue-chip issuer services provider — unifying a regulated transfer agent with end-to-end tokenization infrastructure.
👉 wsj.com/finance/currencies/crypto-exchange-bullish-strikes-4-2-billion-deal-for-transfer-agent-in-tokenization-push-4af8f41f
This is the biggest M&A deal in crypto infrastructure history. Equiniti is a leading global transfer agent serving nearly 3,000 issuer clients, 15,000 corporate clients, 20 million shareholders, and processing $500B in annual payments.
The combination creates the first fully integrated blockchain-enabled, blue-chip issuer services provider — unifying a regulated transfer agent with end-to-end tokenization infrastructure.
The $4.2 billion transaction comprises $1.85 billion of assumed Equiniti debt and approximately $2.35 billion in Bullish stock consideration, priced at $38.48 per share based on Bullish's 30-day VWAP as of May 4, 2026.
👉 wsj.com/finance/currencies/crypto-exchange-bullish-strikes-4-2-billion-deal-for-transfer-agent-in-tokenization-push-4af8f41f
Coinbase Cuts 14% of Workforce to Accelerate Shift Toward AI-Native Operations
Brian Armstrong announced a ~14% workforce reduction, citing market volatility and rapid AI-driven productivity gains. Despite strong positioning, Coinbase is restructuring early to stay lean and efficient during the current crypto downturn.
Coinbase will flatten its structure to a maximum of five layers, eliminate “pure manager” roles, and move toward high-output pods, including experimental “one-person teams.” The goal is to rebuild the company around speed, ownership, and AI leverage.
Affected employees will receive severance packages, including base pay, equity vesting, and additional support depending on location. Coinbase emphasized talent density and expects impacted staff to remain in high demand.
👉 x.com/brian_armstrong/status/2051616759145185723?s=20
Brian Armstrong announced a ~14% workforce reduction, citing market volatility and rapid AI-driven productivity gains. Despite strong positioning, Coinbase is restructuring early to stay lean and efficient during the current crypto downturn.
The company highlighted a major shift toward AI-native operations, where smaller teams can achieve significantly more. Engineers now ship in days what previously took weeks, while non-technical staff increasingly contribute to production-level workflows.
Coinbase will flatten its structure to a maximum of five layers, eliminate “pure manager” roles, and move toward high-output pods, including experimental “one-person teams.” The goal is to rebuild the company around speed, ownership, and AI leverage.
Affected employees will receive severance packages, including base pay, equity vesting, and additional support depending on location. Coinbase emphasized talent density and expects impacted staff to remain in high demand.
👉 x.com/brian_armstrong/status/2051616759145185723?s=20
Andreessen Horowitz Launches $2.2B New Crypto Fund, Betting on Blockchain Adoption
Andreessen Horowitz (a16z) has raised a $2.2 billion crypto fund, marking a renewed push into blockchain investing despite a broader VC shift toward AI. The new “Crypto Fund 5” will deploy capital over the next decade, backing crypto startups across all stages.
Beyond stablecoins, the fund will target sectors including perpetual futures, blockchain-based lending, prediction markets, and tokenized assets. The firm also sees growing relevance for crypto as a coordination layer for AI systems, citing increasing complexity and opacity in modern software infrastructure.
The raise comes amid softer sentiment compared to previous cycles, but stronger underlying activity in the sector. While smaller than its $4.5B 2023 fund, Crypto Fund 5 still outpaces recent raises from peers like Haun Ventures ($1B) and Dragonfly Capital ($650M).
👉 coindesk.com/business/2026/05/05/andreessen-horowitz-raises-usd2-2-billion-in-a-new-fund
Andreessen Horowitz (a16z) has raised a $2.2 billion crypto fund, marking a renewed push into blockchain investing despite a broader VC shift toward AI. The new “Crypto Fund 5” will deploy capital over the next decade, backing crypto startups across all stages.
The firm is focusing on “durable” applications built on crypto infrastructure, especially in payments, financial services, and decentralized systems. a16z highlights stablecoins as a key growth area, with the market recently reaching ~$320B in value and gaining traction for cross-border payments, savings, and daily transactions.
Beyond stablecoins, the fund will target sectors including perpetual futures, blockchain-based lending, prediction markets, and tokenized assets. The firm also sees growing relevance for crypto as a coordination layer for AI systems, citing increasing complexity and opacity in modern software infrastructure.
The raise comes amid softer sentiment compared to previous cycles, but stronger underlying activity in the sector. While smaller than its $4.5B 2023 fund, Crypto Fund 5 still outpaces recent raises from peers like Haun Ventures ($1B) and Dragonfly Capital ($650M).
👉 coindesk.com/business/2026/05/05/andreessen-horowitz-raises-usd2-2-billion-in-a-new-fund
Phi to Shut Down After 4 Years, Services Ending May 25
Phi announced it will wind down operations, with phibox and related services going offline on May 25, 2026. Users are advised to claim rewards, unstake assets, and organize holdings ahead of the deadline.
Earlier this year, Phi reduced its team to extend runway and explored multiple pivots, including prediction markets and AI. However, the team ultimately concluded that continuing operations or building a new direction is no longer financially viable.
Launched as a creative ecosystem alongside eBoyArts, Phi emphasized its role as a collaborative space for artists, builders, and users. The team acknowledged the outcome fell short of expectations and thanked the community for its support.
👉 x.com/phi_xyz/status/2051182324080083227?s=20
Phi announced it will wind down operations, with phibox and related services going offline on May 25, 2026. Users are advised to claim rewards, unstake assets, and organize holdings ahead of the deadline.
The project confirmed that PHI will remain on-chain and tradable via Aerodrome Finance, though liquidity is expected to decline unless supported by the community.
Earlier this year, Phi reduced its team to extend runway and explored multiple pivots, including prediction markets and AI. However, the team ultimately concluded that continuing operations or building a new direction is no longer financially viable.
Launched as a creative ecosystem alongside eBoyArts, Phi emphasized its role as a collaborative space for artists, builders, and users. The team acknowledged the outcome fell short of expectations and thanked the community for its support.
👉 x.com/phi_xyz/status/2051182324080083227?s=20
Solana has introduced Solana Research Institute (SRI)
Solana Research Institute (SRI) is an independent, not-for-profit research forum dedicated to bridging financial institutions and public blockchain infrastructure, with a focused lens on Solana.
👉 solresearch.institute
Solana Research Institute (SRI) is an independent, not-for-profit research forum dedicated to bridging financial institutions and public blockchain infrastructure, with a focused lens on Solana.
Backed by founding members, the SRI will publish research, host closed-door sessions, and run working groups on the legal, structural, and technical questions that will determine how TradFi actually moves on-chain.
👉 solresearch.institute
Bank of Italy Calls to Explore Tokenized SEPA Payments Framework
A senior official at the Bank of Italy called on the European Union to explore a tokenized extension of SEPA, aiming to modernize existing payment infrastructure. Deputy Governor Chiara Scotti highlighted tokenization as an increasingly relevant direction for Europe’s financial system.
Scotti also emphasized progress on the digital euro, noting it remains the most advanced initiative in terms of policy analysis and testing. The European Central Bank is actively collaborating with standard-setting bodies to pilot online payment use cases.
👉 theblock.co/post/400001/bank-of-italy-tokenized-sepa
A senior official at the Bank of Italy called on the European Union to explore a tokenized extension of SEPA, aiming to modernize existing payment infrastructure. Deputy Governor Chiara Scotti highlighted tokenization as an increasingly relevant direction for Europe’s financial system.
SEPA already processes massive volumes, with non-cash transactions reaching €116 trillion in H1 2025 (+2.9% YoY), according to the European Central Bank. A tokenized layer could enhance interoperability and adapt the traditional two-tier monetary system to new technological environments.
Scotti also emphasized progress on the digital euro, noting it remains the most advanced initiative in terms of policy analysis and testing. The European Central Bank is actively collaborating with standard-setting bodies to pilot online payment use cases.
👉 theblock.co/post/400001/bank-of-italy-tokenized-sepa
Securitize Brings Regulated Tokenized Stocks Onchain via Solana
The tokenization firm has partnered with Jump Trading and Jupiter to launch regulated tokenized equities fully onchain on Solana. The assets can now be issued, traded, and settled directly onchain, marking a major step toward onchain capital markets.
Securitize will handle the regulatory layer as a registered broker-dealer, transfer agent, and ATS, ensuring compliance for issuance, trading, and settlement of tokenized stocks directly onchain.
Securitize recently received FINRA approval for tokenized IPO custody and underwriting, partnered with Computershare and the NYSE on 24/7 tokenized securities, and is preparing to go public via a SPAC deal under ticker CEPT expected in 2026.
👉 theblock.co/post/400051/securitize-taps-jump-and-jupiter
The tokenization firm has partnered with Jump Trading and Jupiter to launch regulated tokenized equities fully onchain on Solana. The assets can now be issued, traded, and settled directly onchain, marking a major step toward onchain capital markets.
Under the structure, Jump Trading will provide institutional liquidity through its PropAMM model, while Jupiter will enable retail and institutional access via its swap infrastructure. Securitize will handle the regulatory stack as a registered broker-dealer, transfer agent, and Alternative Trading System (ATS).
Securitize will handle the regulatory layer as a registered broker-dealer, transfer agent, and ATS, ensuring compliance for issuance, trading, and settlement of tokenized stocks directly onchain.
Securitize recently received FINRA approval for tokenized IPO custody and underwriting, partnered with Computershare and the NYSE on 24/7 tokenized securities, and is preparing to go public via a SPAC deal under ticker CEPT expected in 2026.
👉 theblock.co/post/400051/securitize-taps-jump-and-jupiter
Coinbase Taps Centrifuge to Power Tokenization on Base
Coinbase has made a strategic investment in Centrifuge, strengthening its role as a key tokenization partner for Base. The move supports Coinbase’s vision of bringing real-world assets (RWAs) onchain, including ETFs, credit funds, and structured products.
The collaboration will initially focus on high-demand assets like major ETFs, with plans to expand further. Tokenizing Coinbase stock (COIN) is also a potential long-term objective.
This builds on an existing relationship, as Coinbase Ventures has previously backed Centrifuge and supported its RWA initiatives on Base, positioning the network to scale its presence in the tokenization sector.
👉 theblock.co/post/399963/coinbase-figure-investment-centrifuge-base-main-tokenization-partner
Coinbase has made a strategic investment in Centrifuge, strengthening its role as a key tokenization partner for Base. The move supports Coinbase’s vision of bringing real-world assets (RWAs) onchain, including ETFs, credit funds, and structured products.
Centrifuge provides a full-stack solution for tokenization, offering infrastructure, compliance tools, yield APIs, and DeFi integrations. Combined with Coinbase’s distribution across retail and institutional users, the partnership aims to accelerate the adoption of tokenized financial products.
The collaboration will initially focus on high-demand assets like major ETFs, with plans to expand further. Tokenizing Coinbase stock (COIN) is also a potential long-term objective.
This builds on an existing relationship, as Coinbase Ventures has previously backed Centrifuge and supported its RWA initiatives on Base, positioning the network to scale its presence in the tokenization sector.
👉 theblock.co/post/399963/coinbase-figure-investment-centrifuge-base-main-tokenization-partner
Drift Protocol Unveils Recovery Plan After $295M Exploit
Drift Protocol has released its full recovery framework following the April 1, 2026 exploit attributed to a DPRK-linked threat actor confirmed by Mandiant. The attack led to ~$295M in losses, prompting a temporary shutdown of core trading and borrowing functions. The team is now preparing a phased relaunch focused on security and user compensation.
Funds tied to the exploit remain partially traceable, with ~130,259 ETH (~$293M) held in attacker wallets, alongside frozen USDC and delayed bridge transfers via Wormhole and CCTP. Drift is working with law enforcement, forensic firms, and partners to recover assets, including a 10% bounty program for whitehat assistance.
The protocol is also preparing a security-first relaunch in Q2 2026, including a redesigned architecture, stricter multisig controls, reduced market scope, and removal of vulnerable components.
👉 drift.trade/updates/recovery-plan-for-affected-users
Drift Protocol has released its full recovery framework following the April 1, 2026 exploit attributed to a DPRK-linked threat actor confirmed by Mandiant. The attack led to ~$295M in losses, prompting a temporary shutdown of core trading and borrowing functions. The team is now preparing a phased relaunch focused on security and user compensation.
A major part of the plan is the issuance of Recovery Tokens, representing $1 per verified user loss, backed by a recovery pool seeded with ~$3.8M in remaining protocol assets. Additional inflows will come from exchange revenue, up to $127.5M in Tether support, and ~$20M from strategic partners, aiming to fully cover the $295M deficit over time.
Funds tied to the exploit remain partially traceable, with ~130,259 ETH (~$293M) held in attacker wallets, alongside frozen USDC and delayed bridge transfers via Wormhole and CCTP. Drift is working with law enforcement, forensic firms, and partners to recover assets, including a 10% bounty program for whitehat assistance.
The protocol is also preparing a security-first relaunch in Q2 2026, including a redesigned architecture, stricter multisig controls, reduced market scope, and removal of vulnerable components.
👉 drift.trade/updates/recovery-plan-for-affected-users
Forte Launches Fairground Testnet With Season 0 XP Campaign
Forte Protocol has introduced its Fairground waitlist and launched early access for its decentralized perpetuals exchange built on Arbitrum. The platform is rolling out Season 0 of its XP program in 6 days, focusing on testnet trading activity as the core engagement mechanism.
Users who join and get approved receive 10,000 testnet USDC daily plus gas support, allowing them to interact with the platform without capital risk. XP rewards are distributed in 24h epochs from a fixed pool, based on trading activity and participation.
The project is backed by Andreessen Horowitz, Solana Ventures, Polygon Labs, and other crypto VCs.
👉 x.com/ForteProtocol/status/2051361212668219703?s=20
Forte Protocol has introduced its Fairground waitlist and launched early access for its decentralized perpetuals exchange built on Arbitrum. The platform is rolling out Season 0 of its XP program in 6 days, focusing on testnet trading activity as the core engagement mechanism.
Users who join and get approved receive 10,000 testnet USDC daily plus gas support, allowing them to interact with the platform without capital risk. XP rewards are distributed in 24h epochs from a fixed pool, based on trading activity and participation.
Forte positions itself as “compliance infrastructure” for crypto applications, aiming to support regulated-grade tooling for onchain markets. However, details around tokenomics, long-term incentive structure, and mainnet rollout remain limited at this stage.
The project is backed by Andreessen Horowitz, Solana Ventures, Polygon Labs, and other crypto VCs.
👉 x.com/ForteProtocol/status/2051361212668219703?s=20
Agentic Activity on Base: Who's Running the Chain?
893,829 total agentic transactions in 2026. 46,755 active AI agents. 165,598 unique addresses. Base L2 has quietly become the most active chain for autonomous agent infrastructure — and five protocols are driving nearly all of it.
893,829 total agentic transactions in 2026. 46,755 active AI agents. 165,598 unique addresses. Base L2 has quietly become the most active chain for autonomous agent infrastructure — and five protocols are driving nearly all of it.
MoonPay Acquires DFlow in $100M All-Stock Deal
MoonPay acquires DFlow, a Solana-based trading infrastructure platform, as the crypto on-ramp moves deeper into onchain execution.
Since April 2025, DFlow has processed over $50 billion in trading volume, including $12 billion in Q1 2026 alone, serving more than 1M active traders across 500+ applicationss.
👉 x.com/moonpay/status/2051686819167629412?s=20
MoonPay acquires DFlow, a Solana-based trading infrastructure platform, as the crypto on-ramp moves deeper into onchain execution.
DFlow powers major platforms including Coinbase, Phantom, Solflare, and Kamino, and processes ~10 million transactions per month with 99.9% token coverage on Solana.
Since April 2025, DFlow has processed over $50 billion in trading volume, including $12 billion in Q1 2026 alone, serving more than 1M active traders across 500+ applicationss.
MoonPay's recent acquisitions also include Helio, Iron, Meso, Decent, and Sodot.
👉 x.com/moonpay/status/2051686819167629412?s=20
Solana Foundation and Google Cloud Launch Pay.sh
Pay sh is a gateway service that enables AI agents to discover, access, and pay for APIs on a per-request basis using stablecoins on Solana, with no accounts, API keys, or subscriptions required.
The service is built on open standards x402 and MPP, machine-native payment protocols, with payments settled in stablecoins on Solana and reconciled to providers in fiat.
👉 x.com/SolanaFndn/status/2051698987304956281?s=20
Pay sh is a gateway service that enables AI agents to discover, access, and pay for APIs on a per-request basis using stablecoins on Solana, with no accounts, API keys, or subscriptions required.
At launch, Pay sh supports official Google Cloud APIs including Gemini, BigQuery, Vertex AI, and Cloud Run, alongside 50+ community API providers covering ecommerce, market data, communications, and onchain infrastructure.
The service is built on open standards x402 and MPP, machine-native payment protocols, with payments settled in stablecoins on Solana and reconciled to providers in fiat.
👉 x.com/SolanaFndn/status/2051698987304956281?s=20
Price Discovery Board: KAIO (KAIO)
KAIO trading starts today at 13:00 UTC, backed by $19M in funding. This board compares potential FDV scenarios using benchmarks from other RWA projects like Lumia, REAL, Plume, and Centrifuge.
KAIO trading starts today at 13:00 UTC, backed by $19M in funding. This board compares potential FDV scenarios using benchmarks from other RWA projects like Lumia, REAL, Plume, and Centrifuge.
Kelp DAO Migrates rsETH to Chainlink after $292M Exploit
Kelp DAO has confirmed it is migrating rsETH liquid restaking token away from LayerZero's OFT standard to Chainlink's CCIP. Kelp also published screenshots of communications with LayerZero personnel showing the company's team approved responsiblity for the loss.
The exploit cascaded across at least nine lending protocols and wiped $6.6 billion from Aave's TVL, with rsETH holders across 20+ L2 networks facing uncertainty over their token backing.
👉 x.com/KelpDAO/status/2051755467328913637?s=20
Kelp DAO has confirmed it is migrating rsETH liquid restaking token away from LayerZero's OFT standard to Chainlink's CCIP. Kelp also published screenshots of communications with LayerZero personnel showing the company's team approved responsiblity for the loss.
Nearly half of LayerZero contracts were using a single-validator setup prior to the exploit, LayerZero has since enforced mandatory adoption of multi-validator configs.
The exploit cascaded across at least nine lending protocols and wiped $6.6 billion from Aave's TVL, with rsETH holders across 20+ L2 networks facing uncertainty over their token backing.
👉 x.com/KelpDAO/status/2051755467328913637?s=20