JOON HYOUNG LEE

MoonPay Launches Tokenization Platform for Institutions, Connecting to 200 Blockchains

MoonPay, a crypto payments company, has launched a tokenization platform for banks. CoinDesk reported on May 21 that MoonPay introduced MoonPay Trade, a platform that gives banks and fintech companies access to tokenized assets, decentralized finance

Iran's Envoy to France Says Tehran, Oman Discussing Permanent Strait of Hormuz Transit Fees

Iran is considering making transit fees for the Strait of Hormuz permanent. Mohammad Amin-Nejad, Iran's ambassador to France, said on May 21 that Tehran is discussing a permanent toll system with Oman to institutionalize control over maritime traffic

Hyperliquid Hits Record High as Rally Extends

Hyperliquid, the token of the global decentralized exchange, climbed to a record high. CoinMarketCap data on May 21 showed HYPE trading in the upper-$59 range at one point, up nearly 16% from a day earlier. The move took it past its previous record o

Blockchain.com Confidentially Files With SEC for US IPO

Blockchain.com is preparing for a US stock market listing. The crypto financial services company recently confidentially submitted an S-1 filing to the US Securities and Exchange Commission for an initial public offering, The Block reported on May 21

Bitcoin Slips Below $77,000; Kimchi Premium Turns Negative at -1.49%

Bitcoin fell below $77,000. CoinMarketCap data showed Bitcoin trading at $76,666.15 as of 10:45 p.m. on May 21 in South Korea, down 0.34% from a day earlier. The token was 3.89% lower than a week ago. The kimchi premium turned negative. Cryprice data

JPMorgan Says Tokenized MMFs Unlikely to Surpass Stablecoins Because of Regulatory Hurdles

JPMorgan said tokenized money market funds are structurally unlikely to overtake stablecoins. CoinDesk reported on May 21 that, in a report published May 20, JPMorgan said tokenized MMFs account for only about 5% of the stablecoin market despite offe

Binance CEO Says Next 12 to 18 Months Will Be Critical for Tokenization

Binance Chief Executive Officer Richard Teng said the next 12 to 18 months will be a critical period for tokenization. In a post on X on May 21, Teng wrote that tokenization is nearing a major inflection point. He added that the next 12 to 18 months

US Initial Jobless Claims Fall to 209,000, Below Forecast

US initial jobless claims came in below market expectations last week. The Labor Department said on May 21 that initial jobless claims totaled 209,000 in the previous week. That was 1,000 below economists’ forecast of 210,000 and down 3,000 from the

WSJ Says US to Invest $2 Billion in 9 Quantum Computing Firms, With IBM to Get $1 Billion

The US government plans to invest a total of $2 billion in nine domestic quantum computing companies. The Wall Street Journal reported on May 21 that the Commerce Department plans to provide about $2 billion in subsidies to nine US quantum computing

US Hyperliquid Spot ETFs Draw Record $25.5 Million in One Day Since Launch

US spot exchange-traded funds tied to Hyperliquid (HYPE) recorded their largest daily inflow since launch. The Block reported on May 21 that Hyperliquid spot ETFs posted $25.5 million of net inflows on May 20. That was the biggest one-day inflow sinc

IG Partners With Bitpanda to Expand Crypto Business Across Europe

IG Group, the UK online investment platform, is partnering with Austria-based cryptocurrency exchange Bitpanda to expand its crypto business in Europe. Citing a May 21 announcement from IG, CoinDesk reported that the company will broaden its cryptocu

Saylor Says Strategy to Expand STRC to Boost Bitcoin Purchases

Michael Saylor, executive chairman of Strategy, the world's largest corporate Bitcoin holder, said he aims to accelerate growth in the company's STRC preferred stock to fund additional Bitcoin purchases. Saylor said on May 21 that Strategy's goal is

Hyperliquid Jumps Nearly 50% in a Week, Overtakes Solana in FDV

Hyperliquid’s fully diluted valuation has surpassed that of Solana. CoinMarketCap data on May 21 showed Hyperliquid’s fully diluted valuation at $56.33 billion. FDV refers to the maximum market capitalization a token would have if all tokens, includi

Bitcoin Tops $78,000; Kimchi Premium at -1.09%

Bitcoin traded above $78,000. According to CoinMarketCap, Bitcoin was changing hands at $78,043.68 as of 5:18 p.m. in Korea on May 21, up 1.1% from a day earlier. It was down 2.22% from a week earlier. The kimchi premium remained in negative territor

Binance Launches Pre-IPO Perpetuals Tied to SpaceX, a Bet on a $2 Trillion Valuation

Binance has launched a derivatives product that allows traders to bet on SpaceX’s valuation ahead of a public listing. CoinDesk reported on May 21 that Binance rolled out Pre-IPO Perpetual Contracts, which let users trade on expected valuations of pr

US House Lawmakers Introduce PARITY Act, Seek IRS Guidance on Small Crypto Transaction Tax Relief Within 180 Days

US House lawmakers have introduced a bill that would require the Treasury Department and the Internal Revenue Service to examine tax relief for small cryptocurrency transactions. Cointelegraph reported on May 20 that the bill was introduced in the Ho

Macquarie Cuts Crypto ETF Holdings, Builds New BitMine Stake

Macquarie Group reduced its holdings of spot cryptocurrency exchange-traded funds, including Bitcoin, in the first quarter. Odaily reported on May 21 that Macquarie disclosed in a recent filing with the US Securities and Exchange Commission that it h

AI Financial Says It’s More Than a WLFI Treasury Company, Citing Broader Finance Push

AI Financial, the Nasdaq-listed company that holds World Liberty Financial (WLFI), the crypto project linked to US President Donald Trump’s family, said it should not be viewed simply as a digital asset treasury company. CoinDesk reported on May 20 t

US Crude Inventories Post Record 17.8 Million-Barrel Drop After Iran War Fallout

U.S. crude inventories, including the Strategic Petroleum Reserve, posted a record weekly decline last week. Bloomberg reported on May 20 that U.S. crude stockpiles fell by 17.8 million barrels from a week earlier. It was the biggest drop since the U

Tether Buys SoftBank’s Entire Stake in Twenty One Capital to Bolster Bitcoin Strategy

Tether, the issuer of the USDT dollar stablecoin, has acquired all of SoftBank’s stake in Twenty One Capital, or XXI. Tether International, a Tether unit, announced on May 20 that it had bought SoftBank’s entire holding in XXI. SoftBank-appointed dir

Samsung Electronics, Union Reach Tentative Wage Deal; Strike Put on Hold

Samsung Electronics Co. and its labor union reached a tentative wage agreement on May 20, the night before a planned general strike. The union said it would put the walkout on hold. Yonhap News reported that Samsung management and the union signed th

Yardeni Says Bull Market Can Withstand Bond Selloff, Warns on 10-Year Yield Above 5%

A sharp rise in US Treasury yields is unlikely to threaten the stock market bull run, according to Yardeni Research. Walter Bloomberg reported on May 20 that Yardeni Research said in a report released that day that the bond selloff sparked by rising

US Stocks Open Higher Ahead of Nvidia Earnings

US stocks opened higher ahead of Nvidia's earnings report. The Nasdaq rose 0.47% shortly after the open on May 20, while the S&P 500 gained 0.21%, Reuters reported. The Dow Jones Industrial Average slipped 0.03%. Chip stocks rebounded ahead of Nvidia

Singapore Revokes Bsquared Crypto License in Rare Move

Singapore has revoked the cryptocurrency license granted to blockchain infrastructure project Bsquared Technology. The Monetary Authority of Singapore said in a statement on May 20 that it found Bsquared committed serious breaches of regulatory requi

Morgan Stanley Files Amended Solana ETF Application, Fee Undisclosed

Morgan Stanley has filed an amended application with the US Securities and Exchange Commission for a Solana exchange-traded fund. Bloomberg ETF analyst James Seyffart wrote on X on May 20 that Morgan Stanley submitted the revised filing that day to l

Hyperliquid Tops $50 for First Time in Eight Months, Up 97% This Year

Hyperliquid's HYPE token has risen above $50 for the first time in eight months. CoinMarketCap data on May 20 showed HYPE up more than 4.5% from a day earlier, trading above $50. It was the first time in eight months that the token had climbed past t

Jane Street Accused of Dumping $192 Million of UST Before Terra Collapse

Jane Street is facing a new allegation that it used nonpublic information to unload about $190 million of holdings shortly before the 2022 Terra collapse. CoinDesk reported on May 20 that the administrator of the Terraform Labs bankruptcy estate rece

AllUnity Plans Swedish Krona Stablecoin Launch

Germany-based stablecoin issuer AllUnity plans to launch a stablecoin backed fully by the Swedish krona. CoinDesk reported on May 20 that AllUnity said it will launch SEKAU, a stablecoin fully collateralized by reserves in Swedish kronor. The token i

Former CFTC Chair Says US Is Reviewing CBDC Infrastructure Behind the Scenes

Former Commodity Futures Trading Commission Chairman Timothy Massad said the US government is still examining the possible adoption of a central bank digital currency, or CBDC. Massad made the remarks in an interview with CoinDesk at the Digital Mone

Strategy Senior Vice President Sells $930,000 of Company Stock

Andrew Kang, a senior vice president at Strategy, sold about $930,000 of the company's stock, according to a May 20 report from BlockBeats. Kang acquired 5,597 shares of Strategy Class A common stock on May 18 through the vesting of restricted stock