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Project Overview
Stack makes it easy to reward users with onchain points for any activity. Stack provides onchain solutions for redeeming points for ERC20 tokens, an admin interface for managing your points program, and simple developer toolkits (SDKs) for integrating a points program into your project.
Gemini Receives CFTC Derivatives Clearing Organization License, Accelerating Development of Full-Stack Compliant Derivatives Platform
According to The Block, Gemini’s Olympus division has officially received a Derivatives Clearing Organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC), enabling it to serve as an internal clearing house for settlement, risk management, and collateral management—eliminating reliance on third-party clearing and potentially reducing operational costs. Combined with its previously obtained Designated Contract Market (DCM) license, Gemini now possesses full-stack, compliant capabilities across futures, options, perpetual contracts, and prediction markets. Gemini is currently pursuing a Futures Commission Merchant (FCM) license to complete its full suite of CFTC authorizations, positioning itself for direct competition with Kraken and Coinbase.
Nigel Farage Faces Compliance Investigation for Failing to Disclose $6.7 Million Grant from Tether Shareholder
According to CoinDesk, Nigel Farage, leader of the UK’s Reform UK party, is facing a parliamentary standards inquiry after receiving an undisclosed £5 million (approximately $6.7 million) grant from cryptocurrency billionaire Christopher Harborne—prior to his election as a Member of Parliament in 2024. Harborne resides in Thailand and holds a 12% stake in stablecoin issuer Tether. Farage stated that the grant was intended to ensure his personal security—not for political activities. However, both the Conservative and Labour parties have accused him of violating House of Commons rules requiring MPs to register any income received within the 12 months preceding their election, and have referred the matter to the Parliamentary Commissioner for Standards. Reform UK countered that the payment constitutes a “personal unconditional gift,” exempt from disclosure requirements and unrelated to the election. The UK government announced in March this year that it would suspend political parties’ acceptance of cryptocurrency donations to guard against foreign interference. Previously, Christopher Harborne donated £9 million to Reform UK—the largest single political donation ever made by a living individual in the UK. This year, Ben Delo, co-founder of BitMEX, also donated £4 million to the party. Additionally, Farage himself holds a 6.31% stake in Stack BTC, a Bitcoin treasury company.
UK Liberal Democrats Call on FCA to Investigate Nigel Farage’s Conflict of Interest Involving Stack BTC
According to Cointelegraph, the UK’s Liberal Democrats have written to the Financial Conduct Authority (FCA) requesting an investigation into Nigel Farage—the leader of Reform UK—and his ties to the bitcoin company Stack BTC. The party questions whether Farage’s appearance in the company’s promotional video, while holding shares in Stack BTC, violates market rules and constitutes a conflict of interest. Stack BTC recently disclosed that it purchased 37 bitcoins—valued at approximately $2.7 million—as corporate reserves; Farage holds a 6.31% stake in Stack BTC through his media company. This incident comes as the UK government advances a proposal to ban cryptocurrency political donations, aiming to prevent external funding from interfering with elections. The FCA stated it will review the letter and respond accordingly.
Ronin to Migrate to Ethereum Layer 2 on May 12, RON Inflation Rate Expected to Drop Below 1%
gaming-focused blockchain Ronin has announced its migration to an Ethereum Layer 2 network on May 12. The underlying architecture will utilize the OP Stack and integrate EigenDA as the data availability layer. Chain operations are expected to be paused for approximately 10 hours during the migration. The team advises users to unstake their RON in advance or allow the system to handle it automatically after the migration is complete.Following the upgrade, RON's annual inflation rate is projected to decrease from over 20% to less than 1%. Additionally, the treasury will gain new revenue streams from staking rewards, Sequencer net profits, and Marketplace fees. Furthermore, Ronin has introduced a "proof of allocation" incentive mechanism based on "Builder Score," distributing RON rewards to ecosystem builders on a monthly basis.
Base Launches Its First Standalone Network Upgrade, Azul, Scheduled for Mainnet Activation on May 13
Base has announced that its first independent network upgrade, Base Azul, is now live on the testnet, with a target mainnet activation date of May 13, 2026. This upgrade marks Base’s first network-level upgrade conducted independently of the OP Stack. Officially, Azul will deliver improvements across three dimensions: security, performance, and developer experience. Specifically, Base will implement a multi-proof mechanism via Azul; base-reth-node will become its sole execution client; and Base will adopt the latest execution-layer specification (Osaka) to maintain full alignment with Ethereum. Users do not need to take any action for this upgrade.
Related news
Gemini Receives CFTC Derivatives Clearing Organization License, Accelerating Development of Full-Stack Compliant Derivatives Platform
According to The Block, Gemini’s Olympus division has officially received a Derivatives Clearing Organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC), enabling it to serve as an internal clearing house for settlement, risk management, and collateral management—eliminating reliance on third-party clearing and potentially reducing operational costs. Combined with its previously obtained Designated Contract Market (DCM) license, Gemini now possesses full-stack, compliant capabilities across futures, options, perpetual contracts, and prediction markets. Gemini is currently pursuing a Futures Commission Merchant (FCM) license to complete its full suite of CFTC authorizations, positioning itself for direct competition with Kraken and Coinbase.
Nigel Farage Faces Compliance Investigation for Failing to Disclose $6.7 Million Grant from Tether Shareholder
According to CoinDesk, Nigel Farage, leader of the UK’s Reform UK party, is facing a parliamentary standards inquiry after receiving an undisclosed £5 million (approximately $6.7 million) grant from cryptocurrency billionaire Christopher Harborne—prior to his election as a Member of Parliament in 2024. Harborne resides in Thailand and holds a 12% stake in stablecoin issuer Tether. Farage stated that the grant was intended to ensure his personal security—not for political activities. However, both the Conservative and Labour parties have accused him of violating House of Commons rules requiring MPs to register any income received within the 12 months preceding their election, and have referred the matter to the Parliamentary Commissioner for Standards. Reform UK countered that the payment constitutes a “personal unconditional gift,” exempt from disclosure requirements and unrelated to the election. The UK government announced in March this year that it would suspend political parties’ acceptance of cryptocurrency donations to guard against foreign interference. Previously, Christopher Harborne donated £9 million to Reform UK—the largest single political donation ever made by a living individual in the UK. This year, Ben Delo, co-founder of BitMEX, also donated £4 million to the party. Additionally, Farage himself holds a 6.31% stake in Stack BTC, a Bitcoin treasury company.
Ronin to Migrate to Ethereum Layer 2 on May 12, RON Inflation Rate Expected to Drop Below 1%
gaming-focused blockchain Ronin has announced its migration to an Ethereum Layer 2 network on May 12. The underlying architecture will utilize the OP Stack and integrate EigenDA as the data availability layer. Chain operations are expected to be paused for approximately 10 hours during the migration. The team advises users to unstake their RON in advance or allow the system to handle it automatically after the migration is complete.Following the upgrade, RON's annual inflation rate is projected to decrease from over 20% to less than 1%. Additionally, the treasury will gain new revenue streams from staking rewards, Sequencer net profits, and Marketplace fees. Furthermore, Ronin has introduced a "proof of allocation" incentive mechanism based on "Builder Score," distributing RON rewards to ecosystem builders on a monthly basis.
Base Launches Its First Standalone Network Upgrade, Azul, Scheduled for Mainnet Activation on May 13
Base has announced that its first independent network upgrade, Base Azul, is now live on the testnet, with a target mainnet activation date of May 13, 2026. This upgrade marks Base’s first network-level upgrade conducted independently of the OP Stack. Officially, Azul will deliver improvements across three dimensions: security, performance, and developer experience. Specifically, Base will implement a multi-proof mechanism via Azul; base-reth-node will become its sole execution client; and Base will adopt the latest execution-layer specification (Osaka) to maintain full alignment with Ethereum. Users do not need to take any action for this upgrade.
UK Liberal Democrats Call on FCA to Investigate Nigel Farage’s Conflict of Interest Involving Stack BTC
According to Cointelegraph, the UK’s Liberal Democrats have written to the Financial Conduct Authority (FCA) requesting an investigation into Nigel Farage—the leader of Reform UK—and his ties to the bitcoin company Stack BTC. The party questions whether Farage’s appearance in the company’s promotional video, while holding shares in Stack BTC, violates market rules and constitutes a conflict of interest. Stack BTC recently disclosed that it purchased 37 bitcoins—valued at approximately $2.7 million—as corporate reserves; Farage holds a 6.31% stake in Stack BTC through his media company. This incident comes as the UK government advances a proposal to ban cryptocurrency political donations, aiming to prevent external funding from interfering with elections. The FCA stated it will review the letter and respond accordingly.
Stack BTC spends £2 million to acquire an additional 37.19 BTC, increasing its total holdings to 68.19 BTC
According to Yahoo Finance, UK-listed company Stack BTC Plc (ticker: STAK) announced that, as part of its Bitcoin treasury strategy, it recently acquired 37.1898 bitcoins at approximately £53,778 (about $72,385) per bitcoin. Following this purchase, the company’s total Bitcoin holdings increased to 68.1898 bitcoins. Stack BTC Plc focuses on building a high-quality, cash-flow-positive portfolio of businesses while simultaneously advancing its Bitcoin treasury strategy.