$223M Sui Hack Sparks Centralization Concerns

️ On today's Top Picks:

Crypto News

• ⭐️ CZ says the Wall Street Journal (WSJ) was paid to smear him; says "...a major VC who invested in a US crypto exchange is lobbying hard against Binance..."

• ⭐️ JPMorgan, Bank of America, Citigroup, Wells Fargo, and other US banks reportedly exploring issuing a stablecoin; outcome depends on how the US stablecoin legislation turns out.

• Solana introduces the Solana $SOL Attestation Service (SAS); "A new open source, permissionless protocol to attest to anything..."; allows offchain data to be associated with any Solana wallet.

• FIFA to launch its own blockchain network in partnership with Avalanche $AVAX; to migrate FIFA Collect NFT collection from Polygon $POL & Algorand $ALGO to the new blockchain.

• Kraken launches xStock on Solana $SOL in partnership with BackedFi; offers tokenized versions of US-listed equities.

Alpha

• Camp Network launches Summit Series campaign on Layer3; complete onchain quests to earn a variety of rewards.

• Jupiter $JUP to launch Jupiter Lend powered by Fluid $FLUID in Summer 2025; register your wallet for early access.

• Brahma launches Imprint NFT; mint an Imprint NFT and level up to earn rewards.

• Farcaster launches support for Solana $SOL; fund Farcaster wallet with $10 of SOL to increase chances of airdrops from Solana teams.

• Zoolini NFT whitelists Level 5 Zerion DNAs; Zoolini is an upcoming NFT collection powered by Zerion API.

• Espresso reveals details about The Composables NFT collection; to launch mint on May 30th in four phases, 0.0359 ETH cost, 5K supply, on RARI Chain.

Airdrops

• Weekly Airdrop Recap by Earndrop.

• ⭐️ Sophon launches $SOPH airdrop eligibility & allocation checker; Sophon early adopters, ZKsync power users, and more are eligible.

• Resolv to close $RESOLV airdrop claim on May 25th; Season 1 participants are eligible.

• WalletConnect to launch $WCT airdrop on Solana $SOL; active Solana users on Phantom, Jupiter, Backpack, and Solflare to be eligible.

• ICYMI Weekly Airdrop Recap (May 16th) by Earndrop.

Finance News

• US House of Representatives pass President Trump's tax and spending bill.

• US Treasury Secretary Bessent says more trade deals will be announced within the 90-day tariff delay period.

• US President Trump recommends a 50% tariff on the EU starting June 1st; says "...discussions with them are going nowhere."

• ⭐️ Strategy $MSTR to raise $2.1B to buy additional Bitcoin $BTC; currently holds ~$40B worth of Bitcoin.

• Semler Scientific $SMLR buys an additional 455 Bitcoin $BTC for ~$50M at $109,801 per BTC; now holds 4,264 BTC worth ~$465M.

• US President Trump says Apple $AAPL iPhones not made in the US will face a tariff of at least 25%.

Security and Exploits

• ⭐️ Cetus $CETUS exploited for ~$223M due to smart contract vulnerability; ~$162M of the funds are paused; team is attempting to recover the other $60M with $5M bounty.

• US DOJ seizes domains linked to LummaC2; the malware was used to steal crypto wallet seed phrases, bank passwords, and other sensitive information.

• MacOS Antivirus Software for Business Users Test March 2025 by AV-Test.

Token Unlocks

• Polyhedra $ZKJ / ~$32M / MAY 19th
• Pyth $PYTH / ~$285M / MAY 19th
• Optimism $OP / ~$23M / MAY 31st
Sourced from Tokenomist

Funding

• Roxom raises $17.9M in funding from several investors.

• Hyperdrive raises $6M in Series A funding led by Hack VC & Arrington Capital.

• ARAI raises $4M in Seed funding from several investors.

• Stablecorp raises $1.8M in Strategic funding from Coinbase Ventures & Side Door Ventures.

• Fermi Labs raises $1.2M in Pre-Seed funding led by Equilibrium & Big Brain Holdings.

• Plasma raises an undisclosed amount in Strategic funding from Founders Fund.

The Degen Farmer