ZachXBT Alleges Insiders Control 95%+ Of LAB Supply
Blockchain investigator ZachXBT published a thread claiming insiders control over 95% of LAB’s token supply and worked with an unknown market maker to push the AI trading terminal token to a ~$6B FDV.
ZachXBT highlighted alleged OTC/loan structures offering steep discounts and high monthly rates, plus claims of unilateral changes to public sale terms and delayed creator payouts. He also traced large LAB movements via Bitget, alleging coordinated distribution through multiple addresses consistent with prior market-making playbooks.
He urged Bitget, Binance, and Gate to freeze alleged insider profits or delist, while noting his findings are not a recommendation to short due to potential price manipulation.
👉 theblock.co/post/401290/zachxbt-alleges-95-insider-control-of-lab-token-in-investigation-into-ai-terminal
Blockchain investigator ZachXBT published a thread claiming insiders control over 95% of LAB’s token supply and worked with an unknown market maker to push the AI trading terminal token to a ~$6B FDV.
He said retail can’t reliably verify LAB’s float, ownership, or vesting, pointing to inconsistent supply data across aggregators and a lack of clear breakdowns in LAB’s docs. ZachXBT also referenced the team’s prior project Eesee, alleging investors were left behind after the team moved on.
ZachXBT highlighted alleged OTC/loan structures offering steep discounts and high monthly rates, plus claims of unilateral changes to public sale terms and delayed creator payouts. He also traced large LAB movements via Bitget, alleging coordinated distribution through multiple addresses consistent with prior market-making playbooks.
He urged Bitget, Binance, and Gate to freeze alleged insider profits or delist, while noting his findings are not a recommendation to short due to potential price manipulation.
👉 theblock.co/post/401290/zachxbt-alleges-95-insider-control-of-lab-token-in-investigation-into-ai-terminal
Solstice Schedules SLX Token Generation Event For May 21
Solstice is set SLX TGE for May 21, as it expands its Solana-native real yield stack across USX and YieldVault.
For institutions, Solstice highlights KYC-approved minting with a $500K minimum, real-time quotes, slippage protection, and 1:1 redemption backed by multi-oracle pricing. It also offers custom settlement windows and optional auto-conversion directly into eUSX.
Solstice also operates a staking vertical following the acquisition of Solstice Staking AG, claiming $1B+ in staked assets, 8,000+ validator nodes, 100% renewable energy infrastructure, and 99.99% uptime. The platform is governed via Squads multisig with modular, upgradeable programs.
👉 x.com/solsticefi/status/2054746628473643493?s=20
Solstice is set SLX TGE for May 21, as it expands its Solana-native real yield stack across USX and YieldVault.
Solstice positions USX as a fully collateralized, dollar-denominated settlement layer and a gateway to permissionless payments, savings, and broader DeFi access. Users can stake USX in YieldVault to receive eUSX, a yield-bearing token distributed via epoch-based rewards.
For institutions, Solstice highlights KYC-approved minting with a $500K minimum, real-time quotes, slippage protection, and 1:1 redemption backed by multi-oracle pricing. It also offers custom settlement windows and optional auto-conversion directly into eUSX.
Solstice also operates a staking vertical following the acquisition of Solstice Staking AG, claiming $1B+ in staked assets, 8,000+ validator nodes, 100% renewable energy infrastructure, and 99.99% uptime. The platform is governed via Squads multisig with modular, upgradeable programs.
👉 x.com/solsticefi/status/2054746628473643493?s=20
Stitch Raises $25M Series A Led By Andreessen Horowitz
Financial infrastructure platform Stitch raised $25M in a Series A funding round led by Andreessen Horowitz (a16z), with participation from existing backers Arbor Ventures, COTU Ventures, Raed Ventures, and SVC.
The company claims that in the past six months, over $5B has been transacted on its platform, while customer count grew 10x in 2025 and revenue increased 20x over the same period.
Stitch said the new funding will be used to accelerate product development, deepen its presence across the GCC/MENA, and expand its global go-to-market efforts.
👉 x.com/StitchHQ/status/2054954169300357548?s=20
Financial infrastructure platform Stitch raised $25M in a Series A funding round led by Andreessen Horowitz (a16z), with participation from existing backers Arbor Ventures, COTU Ventures, Raed Ventures, and SVC.
Stitch says it’s building an “operating system” for financial institutions, aiming to unify core components like ledgers, workflows, payments, cards, and lending into a single cloud-native stack delivered via one API.
The company claims that in the past six months, over $5B has been transacted on its platform, while customer count grew 10x in 2025 and revenue increased 20x over the same period.
Stitch said the new funding will be used to accelerate product development, deepen its presence across the GCC/MENA, and expand its global go-to-market efforts.
👉 x.com/StitchHQ/status/2054954169300357548?s=20
Layer 2 Fees 2026 Breakdown: Who’s capturing value?
The L2 race is no longer about launching chains, it’s about capturing users, liquidity, and fees. 2026 data shows Base, Arbitrum, and a few emerging ecosystems pulling far ahead of all others.
The L2 race is no longer about launching chains, it’s about capturing users, liquidity, and fees. 2026 data shows Base, Arbitrum, and a few emerging ecosystems pulling far ahead of all others.
Kraken Ditches LayerZero for Chainlink CCIP
Kraken is deprecating its LayerZero infrastructure and migrating to Chainlink CCIP as the exclusive cross-chain service for kBTC and all future Kraken Wrapped Assets, covering Ink, Ethereum, Unichain, and Optimism.
👉 coindesk.com/business/2026/05/14/kraken-to-replace-layerzero-with-chainlink-to-bridge-assets-across-blockchains
Kraken is deprecating its LayerZero infrastructure and migrating to Chainlink CCIP as the exclusive cross-chain service for kBTC and all future Kraken Wrapped Assets, covering Ink, Ethereum, Unichain, and Optimism.
The decision makes Kraken the fourth major firm to drop LayerZero following the $292M Kelp DAO exploit in Apri; joining Kelp DAO itself, Solv Protocol, and Re.
👉 coindesk.com/business/2026/05/14/kraken-to-replace-layerzero-with-chainlink-to-bridge-assets-across-blockchains
Turnkey has closed a $12.5M Strategic Funding Round
Turnkey offers an infrastructure that powers non-custodial wallets, automated onchain transactions, and verifiable enterprise operations, with recent customers including Flutterwave, Polymarket, and Anchorage Digital.
👉 x.com/turnkeyhq/status/2054916089281184008?s=20
Turnkey offers an infrastructure that powers non-custodial wallets, automated onchain transactions, and verifiable enterprise operations, with recent customers including Flutterwave, Polymarket, and Anchorage Digital.
Turnkey has also surpassed $100 billion in stablecoin transaction volume and recently partnered with Lightspark to power Grid Global Accounts, combining traditional banking reach with stablecoin settlement rails.
👉 x.com/turnkeyhq/status/2054916089281184008?s=20
CoinList Launches Passage RWA Distribution Platform
CoinList has launched Passage, an "access layer" platform for capital markets, designed to handle compliant distribution, capital access, allocation, and infrastructure for tokenized assets across treasuries, real estate, private credit, commodities, and pre-IPO shares.
👉 x.com/CoinList/status/2054955596299079950?s=20
CoinList has launched Passage, an "access layer" platform for capital markets, designed to handle compliant distribution, capital access, allocation, and infrastructure for tokenized assets across treasuries, real estate, private credit, commodities, and pre-IPO shares.
CoinList is also working with Peaq and Dualmint to offer tokenized yield opportunities through Passage, with details on the first available asset to be announced shortly.
👉 x.com/CoinList/status/2054955596299079950?s=20
Kalshi has partnered with Interactive Brokers
Interactive Brokers has launched a first-of-its-kind unified prediction markets platform, giving its 4.8M clients access to Kalshi, CME Group, and ForecastEx from a single interface — alongside stocks, options, futures, forex, crypto, and bonds.
👉 x.com/Kalshi/status/2054926089185604092?s=20
Interactive Brokers has launched a first-of-its-kind unified prediction markets platform, giving its 4.8M clients access to Kalshi, CME Group, and ForecastEx from a single interface — alongside stocks, options, futures, forex, crypto, and bonds.
Kalshi also recently partnered with Tradeweb (minority stake) for institutional rates and credit market integration.
👉 x.com/Kalshi/status/2054926089185604092?s=20
THORChain Pauses Network After Suspected Multi-Chain Exploit
THORChain suffered a multi-chain exploit affecting one of its Asgard vaults, with estimated losses currently ranging from $7.4M to over $10M across Bitcoin, Ethereum, BSC, and Base.
THORChain paused swaps, outbound transactions, and network activity to prevent further losses while validators investigate the incident.
The exact exploit vector is still unknown, with early investigation focused on vault management, TSS signing, or possible node compromise. Official post-mortem is still pending.
👉 x.com/TheBlockCo/status/2055223024974970931?s=20
THORChain suffered a multi-chain exploit affecting one of its Asgard vaults, with estimated losses currently ranging from $7.4M to over $10M across Bitcoin, Ethereum, BSC, and Base.
THORChain paused swaps, outbound transactions, and network activity to prevent further losses while validators investigate the incident.
The attack targeted THORChain’s core custody infrastructure, where native assets are held through decentralized TSS-controlled Asgard vaults rather than wrapped bridges. Because these vaults secure native BTC, ETH, and other assets directly, the exploit impacts the protocol’s most critical layer.
The exact exploit vector is still unknown, with early investigation focused on vault management, TSS signing, or possible node compromise. Official post-mortem is still pending.
👉 x.com/TheBlockCo/status/2055223024974970931?s=20
OKX Eyes Strategic Stake in South Korea’s Coinone
OKX is reportedly in talks to acquire a ~20% stake in South Korean crypto exchange Coinone, while Korea Investment & Securities is expected to take a similar-sized position through new share issuance rather than secondary sales.
This structure would inject fresh capital into Coinone without changing operational control. If completed, OKX would become only the second global exchange to hold a major stake in a Korean trading platform after Binance’s investment in Gopax.
👉 x.com/TheBlockCo/status/2055196052471369922?s=20
OKX is reportedly in talks to acquire a ~20% stake in South Korean crypto exchange Coinone, while Korea Investment & Securities is expected to take a similar-sized position through new share issuance rather than secondary sales.
Coinone is South Korea’s third-largest crypto exchange and one of only five platforms licensed for fiat-to-crypto trading, making regulated market access the main strategic value of the deal.
This structure would inject fresh capital into Coinone without changing operational control. If completed, OKX would become only the second global exchange to hold a major stake in a Korean trading platform after Binance’s investment in Gopax.
The move also comes as South Korea prepares new ownership limits for exchanges under the upcoming Digital Asset Basic Act, which could force major shareholders to dilute over time.
👉 x.com/TheBlockCo/status/2055196052471369922?s=20
Gemini Lands $100M Bitcoin-Funded Investment
Gemini secured a $100M strategic investment from Winklevoss Capital Fund as it continues reshaping its business beyond exchange-driven revenue. The fund bought Class A common stock at $14 per share and completed the deal in Bitcoin.
According to CEO Tyler Winklevoss, the investment supports Gemini’s transition from a crypto-focused business into a broader markets company, aiming for more stable long-term revenue and reduced dependence on crypto market cycles.
👉 x.com/CNBC/status/2055052610512503169?s=20
Gemini secured a $100M strategic investment from Winklevoss Capital Fund as it continues reshaping its business beyond exchange-driven revenue. The fund bought Class A common stock at $14 per share and completed the deal in Bitcoin.
The backing came alongside the company’s first-quarter results, which showed revenue of $50.3 million, above the $47.9 million expected by analysts. Net loss also came in lighter than forecast at $0.93 per share versus the anticipated $1.03.
While exchange revenue declined 27% year-over-year to $17.2 million, credit card revenue surged nearly 300% to $14.7 million, and services revenue plus interest income rose 122% to $24.5 million.
According to CEO Tyler Winklevoss, the investment supports Gemini’s transition from a crypto-focused business into a broader markets company, aiming for more stable long-term revenue and reduced dependence on crypto market cycles.
👉 x.com/CNBC/status/2055052610512503169?s=20
Dune Analytics Cuts 25% Of Workforce Amid AI, Institutional Pivot
Crypto data platform Dune has cut 25% of its staff as the company shifts focus toward AI-powered products and institutional adoption.
The layoffs come just months after Dune interviewed 300 candidates for engineering and data roles, with “AI fluency” labeled a non-negotiable hiring requirement.
The move reflects a broader trend across crypto, as firms like Coinbase, Gemini, and Algorand restructure around leaner, AI-driven operations while prioritizing profitability and efficiency.
👉 decrypt.co/367949/dune-analytics-slashes-25-of-workforce-in-ai-institutional-pivot
Crypto data platform Dune has cut 25% of its staff as the company shifts focus toward AI-powered products and institutional adoption.
CEO Fredrik Haga said Dune is now “all-in” on AI and institutions coming onchain, highlighting its new Dune MCP tool that lets users build dashboards without SQL or data infrastructure knowledge.
The layoffs come just months after Dune interviewed 300 candidates for engineering and data roles, with “AI fluency” labeled a non-negotiable hiring requirement.
The move reflects a broader trend across crypto, as firms like Coinbase, Gemini, and Algorand restructure around leaner, AI-driven operations while prioritizing profitability and efficiency.
👉 decrypt.co/367949/dune-analytics-slashes-25-of-workforce-in-ai-institutional-pivot
Strategy to Repurchase $1.5 Billion of 2029 Convertible Notes
Strategy Inc. filed an 8-K on May 14 disclosing privately negotiated repurchases of approximately $1.50 billion in aggregate principal of its 0% Convertible Senior Notes due 2029. The estimated cash repurchase price is ~$1.38 billion, with the final amount tied to the volume-weighted average price of MSTR Class A common stock during the measurement period.
Settlement is expected on or about May 19. Following the repurchase, approximately $1.50 billion of the 2029 Notes will remain outstanding. Strategy plans to fund the transaction through available cash, ATM proceeds, and/or bitcoin sales.
Total holdings now stand at 818,869 BTC, acquired for ~$61.86 billion at an average cost basis of $75,540 per coin. Strategy has noted it is prepared to sell bitcoin to service convertible debt or fund dividend obligations, provided the action remains.
👉 x.com/Strategy/status/2055257988428865751?s=20
Strategy Inc. filed an 8-K on May 14 disclosing privately negotiated repurchases of approximately $1.50 billion in aggregate principal of its 0% Convertible Senior Notes due 2029. The estimated cash repurchase price is ~$1.38 billion, with the final amount tied to the volume-weighted average price of MSTR Class A common stock during the measurement period.
Settlement is expected on or about May 19. Following the repurchase, approximately $1.50 billion of the 2029 Notes will remain outstanding. Strategy plans to fund the transaction through available cash, ATM proceeds, and/or bitcoin sales.
The move comes as Strategy's BTC accumulation pace has visibly shifted. Recent purchases: 535 BTC for $43M (May 11, ~$80,340), 3,273 BTC for $255M (Apr 26, ~$77,906), and 34,164 BTC for $2.54B (Apr 20, ~$74,395), the largest single-week buy of 2026.
Total holdings now stand at 818,869 BTC, acquired for ~$61.86 billion at an average cost basis of $75,540 per coin. Strategy has noted it is prepared to sell bitcoin to service convertible debt or fund dividend obligations, provided the action remains.
👉 x.com/Strategy/status/2055257988428865751?s=20
Poland Advances MiCA Regulation Ahead Of July Deadline
Polish lawmakers have approved a government-backed bill implementing the EU’s MiCA framework, pushing the country closer to full crypto regulatory alignment. The move comes ahead of a July deadline, after which local firms could lose authorization to operate if compliance is not finalized.
The political landscape remains divided. President Karol Nawrocki previously vetoed earlier crypto bills, arguing they placed excessive burdens on the industry and could drive companies out of Poland.
Alongside the MiCA implementation bill, lawmakers are reviewing additional proposals, including one that could ban crypto activity entirely. Further debate is expected once core regulatory legislation is finalized, highlighting continued uncertainty in Poland’s crypto policy direction.
👉 theblock.co/post/401493/poland-passes-mica-crypto-bill
Polish lawmakers have approved a government-backed bill implementing the EU’s MiCA framework, pushing the country closer to full crypto regulatory alignment. The move comes ahead of a July deadline, after which local firms could lose authorization to operate if compliance is not finalized.
The decision follows rising pressure from regulators and an ongoing crisis involving Zondacrypto, Poland’s largest crypto exchange. Authorities are investigating fraud allegations, with thousands of users reportedly unable to withdraw funds and estimated losses exceeding $95.9M.
The political landscape remains divided. President Karol Nawrocki previously vetoed earlier crypto bills, arguing they placed excessive burdens on the industry and could drive companies out of Poland.
Alongside the MiCA implementation bill, lawmakers are reviewing additional proposals, including one that could ban crypto activity entirely. Further debate is expected once core regulatory legislation is finalized, highlighting continued uncertainty in Poland’s crypto policy direction.
👉 theblock.co/post/401493/poland-passes-mica-crypto-bill
Dropee Will Hold Its Public Sale via ChainGPT
Dropee is set to run its public sale on ChainGPT Pad, using a Public Sale (Subscription) format that’s positioned as open participation with KYC. The raise is $250,000 at $0.02 DROPEE price, implying a $20M FDV, with USDC as the accepted currency.
The commitment window runs from May 18, 2026 (12:00 UTC) to May 25, 2026 (12:00 UTC), and allocations are calculated after the sale ends. There’s also a 1-hour refund window for participants.
👉 x.com/ChainGPT_Pad/status/2055260289134690614?s=20
Dropee is set to run its public sale on ChainGPT Pad, using a Public Sale (Subscription) format that’s positioned as open participation with KYC. The raise is $250,000 at $0.02 DROPEE price, implying a $20M FDV, with USDC as the accepted currency.
The commitment window runs from May 18, 2026 (12:00 UTC) to May 25, 2026 (12:00 UTC), and allocations are calculated after the sale ends. There’s also a 1-hour refund window for participants.
About. Dropee is positioning itself as an AI-native app studio focused on creating and scaling viral chat-based applications. The project says its ecosystem has already surpassed 13M users and generated over $2.5M in revenue, while its upcoming “Dropee Create” platform aims to let users build AI-powered mini-apps without coding.
👉 x.com/ChainGPT_Pad/status/2055260289134690614?s=20
Cryptomarket Check-In. Major Events & Headlines
Major capital continues to concentrate around core infrastructure, with large funding rounds, ETF expansion, and system-level upgrades, alongside stablecoin integration and moves into regulated markets.
🔎 Recent Updates & Developments
– Circle raised $222M for Arc at $3B valuation, backed by BlackRock, Goldman Sachs and 100+ institutions
– Digital Asset seeks $300M at $2B valuation led by a16z to scale Canton Network for institutions
– 21Shares launched Hyperliquid ETF on Nasdaq, providing direct HYPE exposure with physical backing and staking
– Wells Fargo increased Ethereum ETF holdings by 63% to 1.1M shares, expanding crypto exposure
– Elliptic raised $120M Series D backed by Nasdaq Ventures, Deutsche Bank and J.P. Morgan to scale compliance
– LayerZero removed 1/1 DVN setups after exploit concerns, triggering ~$2B TVL migration to Chainlink
– Coinbase became Hyperliquid’s USDC deployer, replacing USDH as native stablecoin infrastructure
– OKX is in talks to acquire ~20% stake in Coinone, targeting regulated South Korean market access
Major capital continues to concentrate around core infrastructure, with large funding rounds, ETF expansion, and system-level upgrades, alongside stablecoin integration and moves into regulated markets.
🔎 Recent Updates & Developments
– Circle raised $222M for Arc at $3B valuation, backed by BlackRock, Goldman Sachs and 100+ institutions
– Digital Asset seeks $300M at $2B valuation led by a16z to scale Canton Network for institutions
– 21Shares launched Hyperliquid ETF on Nasdaq, providing direct HYPE exposure with physical backing and staking
– Wells Fargo increased Ethereum ETF holdings by 63% to 1.1M shares, expanding crypto exposure
– Elliptic raised $120M Series D backed by Nasdaq Ventures, Deutsche Bank and J.P. Morgan to scale compliance
– LayerZero removed 1/1 DVN setups after exploit concerns, triggering ~$2B TVL migration to Chainlink
– Coinbase became Hyperliquid’s USDC deployer, replacing USDH as native stablecoin infrastructure
– OKX is in talks to acquire ~20% stake in Coinone, targeting regulated South Korean market access
MAJOR UPCOMING EVENTS IN Q2 2026!
A full list of Major Upcoming Events, to be updated
👉 https://cryptodiffer.com/events
A full list of Major Upcoming Events, to be updated
👉 https://cryptodiffer.com/events
Verus-Ethereum Bridge hit with an $11.6 million exploit
The attacker drained 103.6 tBTC, 1,625 ETH, and 147,000 USDC from the bridge contract, then immediately swapped assets into 5,402.4 ETH worth ~$11.4M, which are currently held at his address.
👉 x.com/peckshield/status/2056183051357495735?s=20
The attacker drained 103.6 tBTC, 1,625 ETH, and 147,000 USDC from the bridge contract, then immediately swapped assets into 5,402.4 ETH worth ~$11.4M, which are currently held at his address.
The attacker's wallet was seeded with 1 ETH via Tornado Cash approximately 14 hours before the exploit began, a standard operational security pattern used to obscure the origin of funds before executing an attack.
👉 x.com/peckshield/status/2056183051357495735?s=20
Bitcoin Depot Files Chapter 11; 9,000 Bitcoin ATMs Go Dark
Bitcoin Depot, once the largest Bitcoin ATM operator in North America with roughly 9,000 kiosks across 47 US states, has filed for voluntary Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas.
Bitcoin Depot reported preliminary Q1 2026 revenue of ~$83.5M, down 49% year-over-year, and a net loss of $9.5M, compared to a profit of $12.2 million in Q1 2025.
👉 theblock.co/post/401590/bitcoin-depot-chapter-11
Bitcoin Depot, once the largest Bitcoin ATM operator in North America with roughly 9,000 kiosks across 47 US states, has filed for voluntary Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas.
CEO Alex Holmes cited a fundamental shift in the regulatory environment as the decisive factor: states have imposed increasingly stringent compliance obligations including new transaction limits, and in some jurisdictions have issued outright restrictions or bans on Bitcoin ATM operations.
Bitcoin Depot reported preliminary Q1 2026 revenue of ~$83.5M, down 49% year-over-year, and a net loss of $9.5M, compared to a profit of $12.2 million in Q1 2025.
👉 theblock.co/post/401590/bitcoin-depot-chapter-11
Tradexyz Launches SpaceX Pre-IPO Perpetual Market
Tradexyz has launched SPCX, a Pre-IPO Perpetual (IPOP) market for SpaceX, at a reference price of $150 per share, implying a fully diluted market cap of ~$1.78 trillion based on a reference share count of 11.87 billion shares.
👉 x.com/tradexyz/status/2056159560470319515?s=20
Tradexyz has launched SPCX, a Pre-IPO Perpetual (IPOP) market for SpaceX, at a reference price of $150 per share, implying a fully diluted market cap of ~$1.78 trillion based on a reference share count of 11.87 billion shares.
The SpaceX launch follows Tradexyz's IPOP framework, which extends the prediction market model beyond binary outcomes into continuously tradeable pre-IPO price discovery; offering a permissionless alternative to private secondary markets that are typically only accessible to accredited investors and institutional allocators.
👉 x.com/tradexyz/status/2056159560470319515?s=20