Morning Post | Michael Saylor Says This Week's Buy Was Bonds, Not Bitcoin; StablR Suffers Attack Losing Approximately $2.8 Million; US Congress Reintroduces Bitcoin Reserve Bill

链捕手Pubblicato 2026-05-25Pubblicato ultima volta 2026-05-25

Introduzione

This cryptocurrency industry digest covers key developments from May 25. MicroStrategy's Michael Saylor clarified the company purchased bonds, not Bitcoin, this week. In regulatory news, the US Congress reintroduced a Bitcoin reserve bill, with Republican backing aiming to accumulate 5% of global supply. The legal and audit firms for the collapsed FTX agreed to a $66 million settlement over fraud allegations. Several CFTC officials skeptical of prediction market oversight were reportedly suspended and forced out. On the security front, the StablR stablecoin was attacked and de-pegged, resulting in an estimated $2.8 million loss for the attacker. The Ethereum Foundation faced criticism, though a researcher defended its core protocol-building mission over influencing ETH's price. Market data from GMGN showed the top 24-hour trending meme tokens on ETH were HEX, SHIB, LINK, PEPE, and mUSD. On Solana, leaders were TROLL, neet, WORLDCUP, HANTA, and Buttcoin. Base chain's top tokens included TOSHI, KEYCAT, BRETT, CLANKER, and LUNA. Featured articles included an a16z analysis arguing tokenization, or real-world assets (RWA), is fundamentally transforming asset nature and financial systems, with the market growing tenfold to ~$34 billion in two years. Another piece deconstructed Hyperliquid's success through a five-layer financial stack framework, emphasizing the critical importance of building from a robust settlement layer upward.

Compiled by: ChainCatcher

Key News:

Former FTX Law Firm and Auditor Agree to Pay $66 Million to Settle Fraud Allegations
StablR Stablecoin Depegs After Attack, Attacker Profited Approximately $2.8 Million
Ethereum Foundation Frequently Criticized, Researcher Defends Its Mission is to Build Protocol, Not Pump ETH
Multiple CFTC Officials Who Questioned Prediction Market Regulation Suspended and Forced to Resign
US Congress Reintroduces Bitcoin Reserve Bill, Republicans Plan to Push for Accumulating 5% of Global Bitcoin
Michael Saylor: This Week's Buy Was Bonds, Not Bitcoin

What Happened in the Past 24 Hours?

US Congress Reintroduces Bitcoin Reserve Bill, Republicans Plan to Push for Accumulating 5% of Global Bitcoin

Meme Top Charts

According to meme token tracking and analysis platform GMGN market data, as of May 25th, 09:00,

Top 5 popular ETH tokens in the past 24h are: HEX, SHIB, LINK, PEPE, mUSD

Top 5 popular Solana tokens in the past 24h are: TROLL, neet, WORLDCUP, HANTA, Buttcoin

Top 5 popular Base tokens in the past 24h are: TOSHI, KEYCAT, BRETT, CLANKER, LUNA

What are the Must-Read Articles in the Past 24 Hours?

a16z: 7 Charts to Understand How Tokenization Changes the Nature of Assets

Tokenized Assets, also known as 'Real World Assets (RWA)', are changing the form of assets, how they flow, and how the financial system is built.

Just last month, the tokenized asset market size surpassed $30 billion, currently hovering around $34 billion (excluding stablecoins). This scale is roughly equivalent to a regional bank or a top-tier university endowment fund. While still very small compared to the global financial system, it is already large enough to have real impact.

Just two years ago, the tokenized asset market was less than $3 billion, but then the market underwent dramatic changes: the US GENIUS Act brought a clearer regulatory framework for stablecoins, institutional-grade on-chain infrastructure matured, and a large number of financial institutions began deploying blockchain technology almost simultaneously. It was under the push of these factors that the tokenized asset market grew 10-fold in less than two years.

Decoding the Secret to Hyperliquid's Success Through a Five-Layer Financial Stack

The construction of institutional-grade financial infrastructure often follows a pattern. You don't start with the most expressive product and then work backwards.

You start with the settlement layer, prove it works under stress, and then unlock all the features that depend on it.

The New York Stock Exchange didn't add derivatives before it had a well-functioning stock market. The Chicago Mercantile Exchange didn't launch options before it launched futures.

This order is not arbitrary. The order of the foundational layers determines the possibilities of the superstructure.

Hyperliquid understands this well.

Domande pertinenti

QWhat is Michael Saylor's recent purchase, according to the title and the 'Important News' section of the article?

AAccording to the article, Michael Saylor stated that the purchase made this week was bonds, not Bitcoin.

QWhat is the reported loss from the StablR attack mentioned in the article?

AThe StablR stablecoin project suffered an attack resulting in a loss of approximately 2.8 million USD.

QWhat legislation related to Bitcoin is being promoted again by the US Congress, as per the article?

AThe US Congress is once again promoting a Bitcoin reserve bill. Specifically, Republicans are reportedly pushing a plan to accumulate 5% of the world's Bitcoin.

QWhich two companies related to FTX agreed to a settlement over fraud allegations, and for what amount?

AFTX's former law firm and auditing agency agreed to pay 66 million USD to settle fraud allegations.

QWhat is the core argument made by the Ethereum Foundation researcher mentioned in the 'Important News' section?

AThe researcher defended the Ethereum Foundation, stating that its mission is to build the protocol, not to pump the price of ETH.

Letture associate

Weekly Token Unlock: HOME Unlocks Over 20% of Circulating Supply

Weekly Token Unlock: HOME to Release Over 20% of Circulating Supply This week, the project DeFi.app (HOME) is scheduled to unlock 790 million tokens, valued at approximately $41.26 million. DeFi.app aims to simplify DeFi trading by enabling users to purchase tokens on any blockchain, execute instant cross-chain swaps, access decentralized derivatives markets, and find yield opportunities—all without paying gas fees or using bridges, while maintaining full self-custody of assets. The accompanying chart details the specific release schedule for these tokens.

marsbit29 min fa

Weekly Token Unlock: HOME Unlocks Over 20% of Circulating Supply

marsbit29 min fa

US Stocks Suffer Worst Plunge Since 2025: Three Triggers Ignite Tech Stock Valuation Reset

The US stock market experienced its most severe sell-off since the 2025 tariff crisis on June 5th, 2025. The Nasdaq Composite plummeted 4.18%, the S&P 500 fell 2.64%, and the Dow Jones dropped 695 points. The panic stemmed from three converging factors. First, Broadcom's earnings report ignited fears of a slowdown in AI growth. While its AI chip revenue surged 143% YoY to $10.8B, its Q3 AI revenue guidance of $16B fell short of the $17.2B consensus. This triggered a massive sector-wide sell-off, with the Philadelphia Semiconductor Index crashing 10.26% and semiconductor stocks losing roughly $1.3 trillion in market value in a single day. Second, a shockingly strong May jobs report crushed hopes for Federal Reserve rate cuts. Non-farm payrolls added 172,000 jobs, doubling expectations. This robust data, combined with persistently high oil prices above $92/barrel due to the ongoing Iran war and blockade of the Strait of Hormuz, drastically increased market expectations for a potential Fed rate hike instead of a cut. Higher interest rates compress the valuations of growth-heavy tech stocks. Third, the prolonged Iran conflict continues to fuel inflationary pressures, complicating the Fed's policy decisions and undermining the "inflation is tamed" narrative. Together, these events challenged the twin pillars of the market rally: the "limitless AI growth" story and expectations for imminent monetary easing. The sell-off spread globally, impacting Asian and European markets and cryptocurrencies. The article posits this is likely a severe "valuation repricing" rather than the end of the AI story. The underlying demand for AI remains strong, but investor expectations for growth speed and the prices they are willing to pay are being recalibrated. Key upcoming factors include the June FOMC meeting, future AI company earnings, and developments in the Iran conflict.

marsbit2 h fa

US Stocks Suffer Worst Plunge Since 2025: Three Triggers Ignite Tech Stock Valuation Reset

marsbit2 h fa

From Madison Square Garden to Kalshi: Prediction Markets Break into the NBA Finals

From Madison Square Garden to Kalshi: Prediction Markets Break into the NBA Finals Prediction markets are playing a significant role in the 2026 NBA Finals, particularly around the New York Knicks' unexpected 2-0 series lead. Platforms like Kalshi and Polymarket have seen massive trading volumes, exceeding hundreds of millions of dollars on championship and related markets. Their influence extends beyond online trading. Kalshi's official partnership with Madison Square Garden has given it prominent physical branding at the arena. Furthermore, local businesses like The Jeffrey bar are using prediction market contracts to hedge the risk of game-result-based promotions, turning potential losses into manageable costs—a concept similar to the famous "Mattress Mack" strategy from traditional sports betting. These markets differentiate themselves by offering a wider, more entertainment-focused range of "event contracts" beyond typical game outcomes, such as predicting celebrity attendance. They also have broader accessibility across the U.S. compared to age- and location-restricted traditional sportsbooks. However, their rapid integration into sports raises regulatory and ethical questions. The NBA is cautiously engaging, discussing integrity frameworks with regulators like the CFTC. While the league permits minor investments like Giannis Antetokounmpo's stake in Kalshi, it advocates for strict rules to prevent insider trading. Many fans express concern on platforms like Reddit, fearing that the close ties between prediction markets, the league, and players could compromise the game's integrity. The NBA Finals has thus become a high-stakes testing ground, showcasing prediction markets' commercial potential while challenging traditional boundaries between financial trading, entertainment, and gambling.

marsbit4 h fa

Recursive Self-Improvement AI Gains Traction, Google Pours Cold Water, While DeepSeek and Others Approach the Fringes

The term "recursive self-improvement" (RSI), where AI improves itself autonomously, is gaining momentum in the AI industry. Startups like Recursive Superintelligence and projects such as Andrej Karpathy's Auto-Research aim to create systems where AI designs, implements, and validates its own research, moving toward superintelligence. While Google CEO Sundar Pichai cautions that such exponential acceleration is not yet a reality, progress is evident. For instance, Anthropic reported its Claude Code writes nearly 100% of the team's code, though it still lacks true self-direction. Analysts frame RSI development in stages: "adequacy" (systems functioning without humans), "parity" (matching human research quality), and "supremacy" (exceeding human-AI collaboration). Reaching parity could trigger rapid, unpredictable advancement due to AI's continuous operation. In China, companies like DeepSeek and Baidu incorporate self-optimization techniques without explicitly branding them as RSI, focusing on algorithmic efficiency and reinforcement learning. However, challenges remain, including "model collapse" from training on AI-generated data and the immense computational and open-collaboration requirements. Ultimately, RSI represents a trend of increasing automation in AI development, potentially reducing human oversight in the creation process itself.

marsbit4 h fa

Recursive Self-Improvement AI Gains Traction, Google Pours Cold Water, While DeepSeek and Others Approach the Fringes

marsbit4 h fa

Anthropic Warns Globally, OpenAI Has Crossed the 'Reliability Threshold': AI Self-Acceleration Activated

Anthropic issues a global warning, urging a pause in AI research due to fears of recursive self-improvement where AI accelerates its own development, nearing a "self-building" tipping point. Simultaneously, OpenAI's Yann Dubois provides a key insight: AI's perceived "jump" in usefulness stems from crossing a "reliability threshold." Before this point, AI is an unreliable toy; after (around Dec 2023 for OpenAI), it becomes a dependable tool, triggering self-acceleration. This is evident as AI now assists in its own R&D, boosting researcher productivity. Dubois argues AI development is more "craft" than pure science, relying heavily on intuition. He highlights "the last-mile AI dividend": if current models were frozen, focused development on vertical application harnesses (orchestration systems connecting AI to real-world data and permissions) could deliver AGI-like performance in many domains. The main bottleneck isn't model intelligence, but integration—granting access, connecting data, and embedding into workflows. However, major challenges remain, like enabling continual learning so AI improves with experience rather than plateauing. For startups, the opportunity lies in solving these intricate, real-world integration problems—the hard work of bringing powerful models down to ground level.

marsbit4 h fa

Anthropic Warns Globally, OpenAI Has Crossed the 'Reliability Threshold': AI Self-Acceleration Activated

marsbit4 h fa

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203 Totale visualizzazioniPubblicato il 2026.05.07Aggiornato il 2026.06.02

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