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On May 26, Bloomberg reported that the resolutions of disputed contracts on Polymarket are being dominated by a small number of UMA holders. Bloomberg's statistics show that among over 6,400 addresses that participated in voting on Polymarket dispute resolutions over the past three years, just 9 major wallets contributed approximately half of the UMA voting power and sided with the winning side in almost all disputes. As of April 2026, around 230 contracts with a total trading volume exceeding $1 billion entered the dispute resolution process, accounting for less than 1% of all contracts on Polymarket, but the frequency of disputes increases with the scale of trading. Some traders criticize that this mechanism effectively grants anonymous whales a fact-determining power driven by economic interests, while Polymarket and Risk Labs, responsible for UMA, had originally promised to improve the related processes, which have now been shelved.

[Bloomberg: 9 Major Wallets Dominate Polymarket's Billion-Dollar Dispute Resolutions]On May 26, Bloomberg reported that the resolutions of disputed contracts on Polymarket are being dominated by a small number of UMA holders. Bloomberg's statistics show that among over 6,400 addresses that participated in voting on Polymarket dispute resolutions over the past three years, just 9 major wallets contributed approximately half of the UMA voting power and sided with the winning side in almost all disputes. As of April 2026, around 230 contracts with a total trading volume exceeding $1 billion entered the dispute resolution process, accounting for less than 1% of all contracts on Polymarket, but the frequency of disputes increases with the scale of trading. Some traders criticize that this mechanism effectively grants anonymous whales a fact-determining power driven by economic interests, while Polymarket and Risk Labs, responsible for UMA, had originally promised to improve the related processes, which have now been shelved.

Bloomberg: 9 Major Wallets Dominate Polymarket's Billion-Dollar Dispute Resolutions

On May 26, the Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Securities and Futures Commission published a consultation summary regarding the regulatory framework for providing advice and managing virtual assets. The proposed advisory and licensing regime for virtual assets received broad support from the market during the consultation period. Following the principle of 'same business, same risks, same rules,' the new licensing regime will align with the scope of regulated activities under Class 4 (advising on securities) and Class 9 (asset management) of the Securities and Futures Ordinance. Along with the proposed licensing regime for virtual asset trading and custody, this series of new regulations will enhance participation in Hong Kong's digital asset market and contribute to building a robust and secure ecosystem under the SFC's 'ASPIRe' roadmap. (Hong Kong Securities and Futures Commission)

[Consultation Summary on Regulatory Framework for Virtual Asset Advisory and Management Services]On May 26, the Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Securities and Futures Commission published a consultation summary regarding the regulatory framework for providing advice and managing virtual assets. The proposed advisory and licensing regime for virtual assets received broad support from the market during the consultation period. Following the principle of 'same business, same risks, same rules,' the new licensing regime will align with the scope of regulated activities under Class 4 (advising on securities) and Class 9 (asset management) of the Securities and Futures Ordinance. Along with the proposed licensing regime for virtual asset trading and custody, this series of new regulations will enhance participation in Hong Kong's digital asset market and contribute to building a robust and secure ecosystem under the SFC's 'ASPIRe' roadmap. (Hong Kong Securities and Futures Commission)

Consultation Summary on Regulatory Framework for Virtual Asset Advisory and Management Services

On May 26, as the U.S. suicide drones guided by Elon Musk's Starlink network began to achieve significant results in the Iran war, SpaceX executives concluded that the Pentagon should pay higher fees for satellite Wi-Fi network usage. According to two insiders and Pentagon documents, weeks after the U.S. initiated bombing operations, SpaceX executives met with Pentagon officials and argued that the military currently pays about $5,000 per terminal connection, while actually utilizing a higher-tier service valued at nearly $25,000. Interviews with five insiders and related documents indicate that the controversy surrounding the use of Starlink on the LUCAS suicide drones is merely a reflection of the increasingly tense relationship between SpaceX and the Pentagon over Starlink pricing issues in recent months. (Jinshi)

[SpaceX in Dispute with U.S. Defense Department Over Starlink Price Increase Amid Iran War]On May 26, as the U.S. suicide drones guided by Elon Musk's Starlink network began to achieve significant results in the Iran war, SpaceX executives concluded that the Pentagon should pay higher fees for satellite Wi-Fi network usage. According to two insiders and Pentagon documents, weeks after the U.S. initiated bombing operations, SpaceX executives met with Pentagon officials and argued that the military currently pays about $5,000 per terminal connection, while actually utilizing a higher-tier service valued at nearly $25,000. Interviews with five insiders and related documents indicate that the controversy surrounding the use of Starlink on the LUCAS suicide drones is merely a reflection of the increasingly tense relationship between SpaceX and the Pentagon over Starlink pricing issues in recent months. (Jinshi)

SpaceX in Dispute with U.S. Defense Department Over Starlink Price Increase Amid Iran War

On May 26, analyst Murphy indicated that by observing the 'short-term capital on-chain activity weight' (the proportion of the dollar value represented by short-term trading volume), we can assess the current state of the BTC market. This indicator reflects the latest short-term trading behaviors such as speculation, arbitrage, profit-taking, or panic selling. Currently, this weight has dropped to a historically low level, only seen in the bottom regions of bear markets over the past 15 years, indicating a significant cooling of short-term trading and a shift of economic value towards long-term holdings. The market is characterized by low volatility, accumulation, or clear bottom features. The analyst assesses that the current market may be in one of three stages: the bottom of a bear market; a secondary bottom, which may see one last drop; or accumulation before the start of a bull market. However, under rational judgment, the accumulation before a bull market can be temporarily ruled out. It is currently not advisable to bet all funds on a single scenario; a diversified position strategy is recommended to cope with different outcomes, as the relative position in the long-term trend indicates that Bitcoin is near the bottom.

[Analysis: Bitcoin Short-Term Trading Volume Significantly Cools, Market Nearing Bottom]On May 26, analyst Murphy indicated that by observing the 'short-term capital on-chain activity weight' (the proportion of the dollar value represented by short-term trading volume), we can assess the current state of the BTC market. This indicator reflects the latest short-term trading behaviors such as speculation, arbitrage, profit-taking, or panic selling. Currently, this weight has dropped to a historically low level, only seen in the bottom regions of bear markets over the past 15 years, indicating a significant cooling of short-term trading and a shift of economic value towards long-term holdings. The market is characterized by low volatility, accumulation, or clear bottom features. The analyst assesses that the current market may be in one of three stages: the bottom of a bear market; a secondary bottom, which may see one last drop; or accumulation before the start of a bull market. However, under rational judgment, the accumulation before a bull market can be temporarily ruled out. It is currently not advisable to bet all funds on a single scenario; a diversified position strategy is recommended to cope with different outcomes, as the relative position in the long-term trend indicates that Bitcoin is near the bottom.

Analysis: Bitcoin Short-Term Trading Volume Significantly Cools, Market Nearing Bottom

According to a report by the Iranian Tasnim News Agency on the 26th, Iranian Speaker of Parliament Mohammad Baqer Qalibaf promoted the unfreezing of $24 billion in Iranian funds during his visit to Qatar. Iran demands that half of the funds be unfrozen immediately after the release of the memorandum of understanding between Iran and the United States, with the remaining amount to be unfrozen within 60 days. (Xinhua News Agency)

[Iran Seeks to Unfreeze $24 Billion in Funds]According to a report by the Iranian Tasnim News Agency on the 26th, Iranian Speaker of Parliament Mohammad Baqer Qalibaf promoted the unfreezing of $24 billion in Iranian funds during his visit to Qatar. Iran demands that half of the funds be unfrozen immediately after the release of the memorandum of understanding between Iran and the United States, with the remaining amount to be unfrozen within 60 days. (Xinhua News Agency)

Iran Seeks to Unfreeze $24 Billion in Funds

On May 26, the Islamic Republic of Iran Broadcasting reported that some foreign media outlets claimed Iran and the United States had reached a 14-point understanding memorandum, which is "pure fabrication and baseless." The report stated that several hours earlier, some media claimed to have obtained the final draft of the Iran-U.S. understanding memorandum, which involved issues such as opening the Strait of Hormuz, initiating nuclear negotiations, and unfreezing Iran's frozen assets, but these claims are not true. According to monitoring by PolyBeats, the probability of a "permanent peace agreement between the U.S. and Iran" on the prediction market Polymarket has seen a short-term decline, with the probability being 26% before May 31 and 56% before June 30.

[Iranian State Media Denies Understanding Memorandum with the U.S.]On May 26, the Islamic Republic of Iran Broadcasting reported that some foreign media outlets claimed Iran and the United States had reached a 14-point understanding memorandum, which is "pure fabrication and baseless." The report stated that several hours earlier, some media claimed to have obtained the final draft of the Iran-U.S. understanding memorandum, which involved issues such as opening the Strait of Hormuz, initiating nuclear negotiations, and unfreezing Iran's frozen assets, but these claims are not true. According to monitoring by PolyBeats, the probability of a "permanent peace agreement between the U.S. and Iran" on the prediction market Polymarket has seen a short-term decline, with the probability being 26% before May 31 and 56% before June 30.

Iranian State Media Denies Understanding Memorandum with the U.S.

On May 26, Reuters reported that the EU plans to impose a fine on Google amounting to nearly €1 billion, which would be the largest fine issued under the Digital Markets Act (DMA). An official announcement is expected before the summer break. The investigation was formally launched in March 2025, with the core accusation being that Google prioritizes its own services in search results, violating relevant DMA regulations. The European Commission stated that its primary goal is to ensure Google's compliance rather than merely pursuing fines, but emphasized that it will not hesitate in advancing subsequent steps. Google criticized the DMA regulations for causing the 'largest downgrade in history' to its search products and expressed a desire to resolve the dispute as soon as possible.

[EU Plans to Fine Google Nearly €1 Billion]On May 26, Reuters reported that the EU plans to impose a fine on Google amounting to nearly €1 billion, which would be the largest fine issued under the Digital Markets Act (DMA). An official announcement is expected before the summer break. The investigation was formally launched in March 2025, with the core accusation being that Google prioritizes its own services in search results, violating relevant DMA regulations. The European Commission stated that its primary goal is to ensure Google's compliance rather than merely pursuing fines, but emphasized that it will not hesitate in advancing subsequent steps. Google criticized the DMA regulations for causing the 'largest downgrade in history' to its search products and expressed a desire to resolve the dispute as soon as possible.

EU Plans to Fine Google Nearly €1 Billion

On May 26, data from Arkham revealed that 21Shares and Bitwise ETF collectively purchased $68 million worth of HYPE last week.

[21Shares and Bitwise ETF Purchased $68 Million in HYPE Last Week]On May 26, data from Arkham revealed that 21Shares and Bitwise ETF collectively purchased $68 million worth of HYPE last week.

21Shares and Bitwise ETF Purchased $68 Million in HYPE Last Week

On May 26, according to AXIOS: An assistant to Secretary of State Rubio has been promoted to a senior national security position at the White House.

[Assistant to Secretary of State Rubio Promoted to Senior National Security Position at the White House]On May 26, according to AXIOS: An assistant to Secretary of State Rubio has been promoted to a senior national security position at the White House.

Assistant to Secretary of State Rubio Promoted to Senior National Security Position at the White House

According to TheBlock, Stems, a decentralized music platform, closed a $4 million pre-seed funding round. 
The investment firm Ideo CoLab Ventures led the funding round, with additional participation from Collab+Currency, Village Global and Polygon Studios. Notable crypto firms such as Merit Circle and Yield Guild Games participated as well, along with FireEyes, NoiseDAO, Jump, GSR, Akatsuki and others.
Stems is a decentralized music NFT platform that encourages artist and fan engagement through web3 tools. For instance, an artist can release their music stems — or a composite of drums, bass, guitar and other individual musical tracks — to the Stem community. Users can then remix the audio into new music NFTs, and the original artists receive royalties upon sale.

Detail

【Decentralized music platform Stems raises $4 million pre-seed round】According to TheBlock, Stems, a decentralized music platform, closed a $4 million pre-seed funding round. 
The investment firm Ideo CoLab Ventures led the funding round, with additional participation from Collab+Currency, Village Global and Polygon Studios. Notable crypto firms such as Merit Circle and Yield Guild Games participated as well, along with FireEyes, NoiseDAO, Jump, GSR, Akatsuki and others.
Stems is a decentralized music NFT platform that encourages artist and fan engagement through web3 tools. For instance, an artist can release their music stems — or a composite of drums, bass, guitar and other individual musical tracks — to the Stem community. Users can then remix the audio into new music NFTs, and the original artists receive royalties upon sale.

Decentralized music platform Stems raises $4 million pre-seed round

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Decentralized music platform Stems raises $4 million pre-seed round

Clause de non-responsabilité：Le contenu ci-dessus ne représente pas les positions de HTX.，HTX ne fournit pas de recommandations de trading.。

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