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According to the official announcement, the second asset launched on Bitget IPO Prime is preOPAI—a digital token issued by the regulated issuer Republic on the Solana blockchain, designed to mirror OpenAI’s post-IPO economic performance on a 1:1 basis. As the world’s leading consumer AI provider, OpenAI reports approximately 900 million weekly active users, according to official data. Its most recent funding round raised $122 billion, with participants including Microsoft, NVIDIA, Amazon, and SoftBank. Bitget IPO Prime operates on a subscription model, whereby users receive subscription quotas based on their account tier. Upon completion of token allocation, users may trade the tokens on the upcoming spot market. Alternatively, after the lock-up period for preOPAI’s underlying debt assets expires, the issuer will authorize Bitget to convert users’ holdings into either stock tokens or USDT, referencing the underlying company’s (OpenAI’s) publicly traded stock price. IPO Prime Details: • OpenAI Implied Valuation: $898.21 billion • Total IPO Prime Subscriptions: 29,082 • Total Subscription Value: $21,084,450 • Subscription Price: 1 preOPAI = $725 • Accepted Subscription Currencies: USDT or USDGO • Total Subscription Pool Cap: $300,000,000
The Fuzhou Gulou District People's Court recently concluded a dispute arising from investment in virtual currency. Chen transferred 480,000 yuan to Liu for foreign exchange financial management. Liu converted the funds into USDT and invested them on an overseas platform. After the platform was shut down, Chen sued the court demanding a refund. The court reviewed the case and found that this transaction model formed a closed loop of receiving RMB, converting to USDT, cross-border transfer, and foreign exchange trading, constituting a disguised form of foreign exchange trading and suspected of economic crimes.The court ruled to dismiss Chen's lawsuit and transferred relevant materials to the public security authorities for handling. The Fuzhou Intermediate People's Court upheld the original ruling. The court reminded that civil legal acts related to investing in virtual currency that violate public order and good customs are invalid, and any losses incurred therefrom shall be borne by the investor themselves.
According to the New Straits Times, in the case involving “12 Malaysian police officers allegedly conspiring to rob eight Chinese citizens of 50,000 USDT” that occurred in February this year, the victims’ legal counsel criticized the police for excessively delaying their investigation and warned that if internal cover-ups are confirmed, they would file a complaint with Malaysia’s Malaysian Anti-Corruption Commission (MACC). Previously, the police were accused of forcibly entering the victims’ residence under the pretext of an “anti-fraud raid,” coercing the victims into transferring cryptocurrency assets despite having no evidence of criminal activity. In his latest response, the Inspector-General of Police stated that all implicated officers have been suspended from active duty; however, the investigation remains pending due to the lengthy process required for cryptocurrency forensic analysis and technical reporting, and the case continues to be investigated as one of “conspiracy to commit robbery.”
According to CoinDesk, Jesse Spiro, Head of Government Affairs at Tether, stated at the Consensus Miami 2026 summit that the 2026 U.S. midterm elections will be a critical test of whether Washington’s recent crypto-friendly policies can endure. He noted that although legislative progress has been made—such as with the GENIUS Act—the election outcome could still have a disruptive impact on the industry’s trajectory, emphasizing that “crypto should not be partisan.” Colin McLaren, Head of Government Relations at the Solana Policy Institute, said the industry’s political efforts have now shifted toward “durability,” ensuring Congress continues advancing priority issues like tax reform and developer protections in the future. Mason Lynaugh, Executive Director of Stand With Crypto, stated that the organization’s nearly 3 million members view the election as a “moment of accountability,” and that highly mobilized crypto voters could sway election outcomes in key districts.
According to the HTX (formerly Huobi) announcement, HTX has enabled deposits for TWT and BILL tokens as of May 7 at 16:00 (GMT+8). Spot trading and grid trading for TWT/USDT and BILL/USDT will go live on May 7 at 18:00 and 19:00 (GMT+8), respectively. Withdrawals for TWT and BILL will be available on May 8 at 18:00 and 19:00 (GMT+8), respectively. Trust Wallet is a popular cryptocurrency hot wallet that allows users to retain full control over their funds. Its core feature is an integrated DApp browser offering a curated selection of decentralized applications, enabling direct staking and token trading. Billions Network is a universal “human-and-AI” collaboration network. It enables anyone to prove, in seconds, that they are a real and unique individual on-chain—without revealing any underlying personal data—providing humanity with a way to rebuild trust in every digital interaction and securely leverage AI agents.
according to Gate Ventures' latest weekly report, the global market performance is generally stable, but inflationary pressures and policy divergences are rising simultaneously. The S&P 500 topped the 7,200 mark for the first time. The Fed kept interest rates unchanged but showed major internal divisions. Compounded by volatile oil prices due to supply shocks in the Strait of Hormuz, market expectations of "stagflation" have intensified. Against this backdrop, the crypto market remains in a consolidation pattern, with BTC largely flat and ETH experiencing a slight pullback. ETF fund flows are diverging, and market sentiment remains cautious.At the industry level, the CLARITY Act has clarified the boundaries for stablecoin yields, further promoting a clearer regulatory framework. EURC is seeing rapid growth in Spanish retail payment scenarios, indicating that localized stablecoin applications are coming to market. The Solana ecosystem is advancing its post-quantum signature scheme, Falcon, reflecting the industry's forward-looking layout for long-term security. In terms of investment and financing, 15 deals were completed this week, with a total volume of $167 million, representing a 205% increase week-over-week. The infrastructure track continues to dominate. Among these, Four Pillars completed a Series A funding round to strengthen institutional-grade research and infrastructure capabilities. Belo secured $14 million in a funding round led by Tether, accelerating the expansion of its stablecoin payment network in Latin America. Overall, capital continues to concentrate towards infrastructure and cross-asset platforms, driving the industry's accelerated evolution towards institutionalization and multi-asset integration.
According to Cointelegraph, the domain name of BG Wealth Sharing—a suspected $150 million cryptocurrency Ponzi scheme—has been seized by U.S. law enforcement authorities. On-chain investigator ZachXBT revealed that individuals linked to the scheme attempted to launder over $92 million between April 27 and May 3. In collaboration with Tether, Binance, OKX, and U.S. law enforcement, more than $41 million in funds was successfully frozen. The scheme began operations in 2025 and heavily promoted itself via social media, promising daily returns of 1.3%–2.6%, primarily targeting retail investors. Prior to its shutdown, its CEO, Stephen Beard, instructed users to pay a 12% tax on their account balances, citing an “IPO regulatory process”—a move widely perceived by users as the final “harvesting” of retail investors.
SoFi Technologies has announced the expansion of its stablecoin, SoFiUSD, to the Solana network, attracted by its low costs, high throughput, and rapid settlement capabilities.Launched in 2025 as a fully reserved US dollar-pegged stablecoin, SoFiUSD was initially deployed on Ethereum, designed to provide banks, fintech companies, and enterprises with near real-time settlement infrastructure available 24/7.As the regulatory framework gradually becomes clearer, banks and financial institutions are accelerating their entry into the stablecoin赛道, competing with major issuers such as Tether and Circle.
According to Financialit, stablecoin financial services platform UnblockPay has announced the completion of a $4.5 million seed funding round, led by Prelude, with participation from Plug and Play, Wintermute, Reverie, Signature Ventures, Triaxis Capital, Crescera Capital, and a group of angel investors. The new capital will support the development of regulated financial products, enabling businesses to integrate stablecoins into their day-to-day financial operations and facilitating seamless conversions between fiat currencies and major stablecoins such as USDC and USDT for enterprise users.
this week, U.S. Democratic Senators Elizabeth Warren and Ron Wyden sent letters to Tether CEO Paolo Ardoino and U.S. Commerce Secretary Howard Lutnick, expressing concerns over a loan provided by Tether to a family trust fund benefiting Lutnick’s children.The letter notes that prior to becoming Commerce Secretary, Lutnick led Cantor Fitzgerald, which has served as the custodian for Tether’s reserves since 2021. The senators question whether the loan may have helped Lutnick’s children obtain funds to acquire their father’s stake in Cantor Fitzgerald, raising concerns about potential conflicts of interest or bribery. Additionally, the senators expressed concerns over Tether’s past compliance record and its lobbying activities during the legislative process of the GENIUS Act, emphasizing the need to ensure that politically connected crypto stakeholders do not receive special treatment. (The Block)
AethirClaw has officially launched CARA (Pre-configured Crypto AI Agent), running on Aethir's decentralized GPU infrastructure. Equipped with over 50 skills, it covers core crypto scenarios such as real-time market monitoring, whale wallet tracking, on-chain analysis, social media sentiment monitoring, and project due diligence, and users can use it out-of-the-box without any technical configuration.The platform supports payments via credit card as well as USDT, USDC, and ATH tokens. Aethir also disclosed that it will soon launch a Model-as-a-Service (MaaS) layer, running mainstream open-source large models on Aethir's decentralized GPU infrastructure, and expand multimodal capabilities including text-to-image and video generation.
According to SBS Biz, South Korea’s Personal Information Protection Commission has completed on-site inspections of Upbit and Bithumb and is now reviewing whether the two exchanges violated regulations by transmitting users’ personal information when sharing order books with overseas platforms. Results are expected to be announced in the second half of the year. The core of the dispute lies in whether personally identifiable information was transmitted alongside order books during the sharing process. South Korea’s Personal Information Protection Act stipulates that cross-border transfers of personal information require prior user consent; violations may trigger sanctions. Currently, Upbit shares its order book with Upbit APAC and Tether’s markets, while Bithumb previously shared its order book with the Australian exchange Stellar. Meanwhile, Bithumb is also engaged in a legal battle with financial regulators over alleged violations of the Act on Special Cases Concerning the Settlement of Financial Transactions. A court ruling on the validity of certain business suspension orders against Bithumb is imminent.
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.
Bitget Wallet has launched a Labor Day QR code payment campaign, running from April 28 to May 7, further driving the adoption of stablecoin payments in everyday consumption and travel scenarios across the Asia-Pacific (APAC) region. During the campaign, users who complete offline QR code payments using USDT or USDC will receive RLUSD cashback for each transaction. From May 1 to May 7, Bitget Wallet will randomly select one paying user per day to receive an additional 1,000 RLUSD cashback. To lower the barrier to first-time usage, Bitget Wallet will also airdrop XRP to eligible participants—serving as the account reserve required to activate RLUSD withdrawals. RLUSD is a compliant U.S. dollar-pegged stablecoin issued by Ripple and regulated by the New York State Department of Financial Services (NYDFS). This campaign marks Bitget Wallet’s first real-world consumer application following its integration of the XRP Ledger (XRPL) mainnet and onboarding of the RLUSD payment ecosystem at the end of March—and represents a key milestone in advancing Bitget Wallet’s Everyday Finance strategy.
Visa has partnered with WeFi, an on-chain banking company founded by former Tether CEO Reeve Collins, aiming to enable digital asset payments through WeFi's on-chain banking infrastructure. WeFi allows users to hold assets in self-custodial wallets and retain control of their private keys, while ensuring they can spend at any merchant that accepts Visa payments.The project will initially launch in select markets in Europe, Asia, and Latin America, with plans to expand to other regions pending regulatory approvals. WeFi CEO Maksym Sakharov stated that stablecoins will be directly embedded into the underlying infrastructure, with settlement processes handled in the background, eliminating the need for users to manually perform conversions.
According to The Block, Visa has partnered with WeFi—a “blockchain-based bank” founded by Reeve Collins, former CEO of Tether—to enable users to hold digital assets in self-custodial wallets and spend them directly across the global Visa acceptance network, without depositing assets into centralized exchanges. Maksym Sakharov, Co-Founder and CEO of WeFi, stated that stablecoins are natively embedded into the underlying infrastructure, with settlements processed automatically in the background, delivering a user experience indistinguishable from conventional payments. This partnership will initially launch in select markets across Europe, Asia, and Latin America, with further expansion contingent upon regulatory approvals.
Odaily Odaily: U.S. President Trump stated at a private event for TRUMP Meme coin holders held at his Mar-a-Lago estate in Florida that the White House will not allow banking lobbying groups to hinder the progress of the crypto market structure bill, the Digital Asset Market Clarity Act. He said the crypto industry has entered the mainstream, declaring "America is the leader in crypto," and that banks should not obstruct the establishment of stablecoin and crypto regulatory frameworks.Dubbed the "most exclusive meeting in the world," the event invited hundreds of large TRUMP coin holders. Guests included Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxing champion Mike Tyson. Previously, the U.S. banking industry had expressed concerns that stablecoin reward mechanisms could impact traditional deposit businesses, which had slowed the legislative process. (CoinDesk)
According to a report released by a16z crypto researchers Robert Hackett and Jeremy Zhang, stablecoins are evolving from early-stage tools for trading and savings into core financial infrastructure. On the regulatory front, the U.S. GENIUS Act has established the first federal framework for stablecoin issuance. Although the European Union’s MiCA regulation—after coming into effect—led to the delisting of USDT from several exchanges, it has instead spurred sustained demand for non-U.S. dollar stablecoins, with monthly trading volume remaining steady in the $15–25 billion range. In terms of usage, consumer-to-business (C2B) stablecoin transaction volume grew 128% year-on-year in 2025, reaching 284.6 million transactions. Stablecoin velocity rose from 2.6x in early 2024 to 6x, indicating that existing supply is now being used more frequently for payments rather than held as savings. After excluding transactional and financial flow activity, an estimated $350–550 billion in stablecoin value in 2025 was attributable to genuine payment use cases. Geographically, nearly two-thirds of stablecoin payment volume originates from Asia (primarily Singapore, Hong Kong, and Japan), roughly one-quarter comes from North America, and approximately 13% from Europe. Notably, cross-border transaction share has actually declined, while domestic transactions have risen from ~50% in early 2024 to nearly 75% by early 2026. The BRL-pegged stablecoin BRLA, for example, now sees monthly transfers totaling approximately $400 million—evidence of the growing adoption of localized stablecoin payments.
According to The Block, OSL Group has announced a partnership with Circle’s affiliated entities to expand USDC integration across its payment and trading platforms. Through OSL Global, users can exchange USD for USDC at a 1:1 ratio and trade BTC, ETH, SOL, USD, and USDT pairs in a dedicated USDC trading zone. Meanwhile, OSL has adopted USDC as its unified margin asset and integrated USDC into its payment services to support compliant digital dollar settlement and payment use cases. OSL also stated that it plans to support Circle’s tokenized money market fund, USYC, subject to regulatory requirements and platform eligibility criteria.
Odaily News Aurise Foundation announced the launch of the yield-bearing gold token XAUE on Ethereum, designed to serve as a yield-bearing treasury for Tether Gold (XAU₮). XAUE targets compliant institutional participants, introducing crypto-native yield to traditional non-yielding gold through quantitative strategies and institutional lending, transforming it into a programmable and capital-efficient on-chain asset.Current ecosystem partners Aurelion and Antalpha have jointly contributed 16,052 XAU₮ (approximately $76 million) to XAUE. The protocol employs an exchange rate growth model, where the gold value pegged to each XAUE increases as yields accumulate, and it will integrate with more decentralized finance protocols such as DEXs in the future.