Coinbase Customer Data Stolen

️ On today's Top Picks:

Crypto News

• ⭐️ FTX to distribute over $5B to creditors on May 30th; eligible creditors should expect to receive funds within 1 to 3 business days from May 30th.

• US SEC investigates Coinbase $COIN for allegedly misstating user numbers ahead of 2021 IPO; inquiry began during the Biden administration and has continued under the Trump administration.

• Abu Dhabi's sovereign wealth fund bought an additional ~$29M of BlackRock Bitcoin $BTC spot ETF $IBIT shares in Q1 2025; total holdings worth ~$408M.

• US State of Wisconsin's pension fund sold its ~$321M of BlackRock Bitcoin $BTC spot ETF $IBIT holdings in Q1 2025; still holds ~$19M on Coinbase $COIN shares.

• Abraxas Capital buy more Ethereum $ETH; has withdrawn 278,639 ETH worth $717M from exchanges since May 7th.

• Defi Dev Corp $DFDV buys an additional 16,447 Solana $SOL for ~$2.3M at ~$139.66 per SOL; now holds 609,190 SOL worth ~$104M.

• ⭐️ US Judge rejects Ripple $XRP and the SEC's joint request for proposed $50M settlement; Judge Torres said the request was “procedurally improper."

• US DOJ to proceed with charges against TornadoCash $TORN Founder Roman Storm; one of two prongs of the unlicensed money transmission count was dropped, but the rest remain unchanged.

• Sonic Labs $S secures court order to liquidate the Multichain Foundation; Sonic Labs sustained damages when Multichain was hacked for ~$210M in 2023.

• US prosecutors charge twelve individuals linked to $243M Genesis creditor theft; two other individuals were charged in September 2024.

Alpha

• OpenSea launches new XP Shipment; users who bought and held NFTs on OpenSea 2 over the last 6 weeks are eligible.

• Mezo to launch mainnet at the end of May; to snapshot mats (points) at mainnet launch.

• Torab Torabi, CEO of Move Industries, says "It is imminent"; potentially teasing $MOVE MoveDrop is launching soon.

• Pharos launches public testnet; complete onchain & social tasks to level up.

• Namada to launch Mainnet Phase 4 soon; $NAM transferability enables in Phase 5.

• Radius launches Early Community Program; complete missions, play APT game, and earn an OAT on Galxe.

• Blocksense launches Pirate NFT mint; the proof-of-membership NFT is free to mint and only available for limited time.

Airdrops

• Weekly Airdrop Recap by Earndrop.

• ⭐️ Farcaster launches WalletConnect $WCT airdrop; check the Farcaster mobile app to see if you're eligible.

• World Liberty $WLFI governance proposal to airdrop $USD1 to WLFI holders passes; full details coming soon.

• Binance launches Nexpace $NXPC HODLer Airdrop; BNB Simple Earn and/or On-Chain Yields subscribers from May 6th to May 9th are eligible.

• ICYMI Weekly Airdrop Recap (May 9th) by Earndrop.

• ICYMI Solana Name Service launches $SNS airdrop claim; .sol domain holders and several Solana-based communities are eligible.

Finance News

• US April PPI Inflation falls to 2.4%, below expectations of 2.5%; Core PPI inflation falls to 3.1%, in-line with expectations of 3.1%.

• US CFTC Commissioner Christy Goldsmith Romero to step down on May 31st; US President Trump's pick Brian Quintenz to assume role once confirmed by the Senate.

• ⭐️ Moody's downgrades US credit rating for the first time in history; cites unsustainable path for US federal debt and its resulting interest burden.

• UK overtakes China as second-largest foreign holder of US treasuries in March, at $779.3B.

• Moonpay partners with Mastercard $MA to enable stablecoin payments and spending at 150M global businesses; to also have access to new stablecoin-powered virtual Mastercards.

• Ark Invest $ARKF $ARKW buys $9.4M worth of eToro $ETOR shares; buys $7.6M worth of 3IQ’s Solana $SOL staking ETF; sells $7.9M of its own spot Bitcoin $BTC ETF; sells $873K of Block $XYZ shares.

• Bitdeer $BTDR releases Q1 2025 earnings report; total revenue was $70.1M, down from $119.5M in Q1 2024; net income was $409.5M, up from $600K in Q1 2024.

Security and Exploits

• ⭐️ Coinbase $COIN discloses cyber criminals stole customer data; affects less than 1% of its users; offers $20M bounty for information.

• Telegram shuts down Haowang Guarantee and Xinbi, illicit online marketplaces; processed a combined ~$35B of transactions in stablecoins.

• Google releases Chrome security update; patches high-severity vulnerability that could lead to a full account takeover.

• Zunami hacked for ~$500K; collateral for zunUSD & zunETH has been stolen and transferred to TornadoCash; team currently investigating.

Token Unlocks

• Immutable $IMX / ~$16M / MAY 16th
• Arbitrum $ARB / ~$36M / MAY 16th
• Avalanche $AVAX / ~$38M / MAY 17th
• ApeCoin $APE / ~$10M / MAY 17th
• Polyhedra $ZKJ / ~$32M / MAY 19th
• Pyth $PYTH / ~$340M / MAY 19th
Sourced from Tokenomist

Funding

• XP raises $6.2M in Seed funding led by Blockchange Ventures.

• Giza raises $5.2M in funding from several investors.

• TrendX raises $5.2M in Strategic funding from Animoca Brands & Cream Labs.

• XSY raises $5M in Pre-Series A funding led by Borderless Capital & Protagonist.

• Taker raises an undisclosed amount in Strategic funding from 071labs.

• UXLINK raises an undisclosed amount in Strategic funding from Animoca Brands.

The Degen Farmer