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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, 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 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
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 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 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 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'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 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
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 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
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
OpenAI, the developer of ChatGPT, will invest more than $230 million in Singapore to help build the country’s artificial intelligence ecosystem. The company announced on May 19 that it is launching “OpenAI for Singapore” with the Ministry of Digital
Hanwha Investment & Securities will invest about $432 million more in Dunamu, the operator of South Korea’s largest digital-asset exchange Upbit, raising its stake to 9.84%. In a regulatory filing on May 20, the company said its board approved the ca
South Carolina is enacting a pro-cryptocurrency law that explicitly protects the mining industry and other parts of the digital-asset sector. The Block reported on May 19 that South Carolina Governor Henry McMaster signed crypto bill S.163 on May 18.
Hyperliquid, a global decentralized exchange, has seen its share of weekly crypto fees rise above 40%. Data cited by Unfolded on May 20 showed Hyperliquid generated $11 million in weekly fees, accounting for 43% of total cryptocurrency fees. That exc
Ark Invest, the asset manager led by Cathie Wood, bought additional shares of US crypto exchange Bullish. The firm purchased a total of 122,020 Bullish shares this week through three exchange-traded funds, including ARK Innovation ETF (ARKK) and ARK
The supply of non-dollar stablecoins has nearly tripled over the past five years, but their share of the market has slipped. CoinDesk reported on May 19, citing Artemis data, that the supply of non-dollar stablecoins tied to the euro, yen and Singapo
[Editor's note] The digital-asset industry is no longer confined to exchanges and token trading. Institutional capital, stablecoins, tokenized capital markets and artificial intelligence infrastructure are converging, reshaping the industry itself. A
Bithumb, a South Korean cryptocurrency exchange, is launching a Bitcoin Pizza Day promotion. The exchange said on May 18 that it will run the event through May 31 to mark Bitcoin Pizza Day on May 22, offering pizza and Bitcoin to users making their f
Sen. Elizabeth Warren said the CLARITY Act, a crypto market structure bill, is “not ready yet.” CoinDesk reported on May 14 that Warren made the remarks during the Senate Banking Committee’s markup of the CLARITY Act. “Many families across the US are
Sen. Tim Scott, chairman of the Senate Banking Committee, said on May 14 that the crypto market structure bill known as the CLARITY Act would rewrite “outdated rules.” Speaking at the committee’s markup of the CLARITY Act, Scott said the measure woul
Strive, a Bitcoin digital-asset treasury company, is moving to pay dividends every business day. CoinDesk reported on May 14 that Strive Chief Executive Officer Matt Cole said the company will begin paying cash dividends on its perpetual preferred st
The U.S. Senate Banking Committee is set to mark up the crypto market structure bill known as the CLARITY Act. CoinDesk reported on May 14 that the committee plans to hold a markup of the bill later in the day. A markup is the stage in which a congre
Coinbase Global Inc. will manage Circle’s USDC liquidity for Hyperliquid, a global decentralized exchange. CoinDesk reported on May 14 that Coinbase had been selected as Hyperliquid’s official Circle treasury manager. Under the arrangement, Coinbase
Bullish, the US cryptocurrency exchange, reported first-quarter results that missed market expectations as trading slowed amid a broader downturn in digital-asset markets this year. CoinDesk reported on May 14 that Bullish posted adjusted revenue of
US retail sales rose 0.5% in April from the prior month, in line with market expectations. The Commerce Department said on May 14 that April retail sales increased 0.5% from a month earlier, matching economists' forecasts. Retail sales rose 4.87% fro
US initial jobless claims rose more than expected last week. The Labor Department said on May 14 that initial jobless claims totaled 211,000 last week. That was 6,000 above economists’ forecast of 205,000 and 12,000 higher than the previous week’s re
BlackRock, the world's largest asset manager, transferred Bitcoin worth about $285 million to Coinbase, the US cryptocurrency exchange. Onchain Lens said May 14 that BlackRock moved 3,581 Bitcoin to Coinbase. The tokens are currently valued at about