The Genius Act could boost the US dollar’s dominance in Web3 by enforcing 1:1 stablecoin backing and compliance, according to a Foresight Ventures report.
No more ETH dumps? Ethereum Foundation turns to DeFi for cash
The Ethereum Foundation (EF) has borrowed $2 million in GHO, a decentralized stablecoin developed by Aave, in a move signaling deeper engagement with decentralized finance (DeFi) strategies.
In a May 29 X post, Aave founder Stani Kulechov said the foundation borrowed $2 million in GHO tokens. “The EF is not only supplying ETH to Aave, but also borrowing from Aave,” Kulechov wrote, describing the development as “the full DeFi circle.”
GHO is a decentralized, overcollateralized stablecoin native to the Aave Protocol. Unlike centralized stablecoins, GHO is governed by Aave’s decentralized autonomous organization (DAO), which oversees interest rates, collateral requirements and facilitator selection.
The move highlights the EF’s growing engagement with the DeFi ecosystem, moving toward more sophisticated treasury strategies.
The foundation did not immediately respond to a request for comment.
Source: Stani KulechovEthereum Foundation previously deployed $120 million in DeFi
The foundation’s move to borrow GHO follows a previous $120 million
Donut Labs raises $7M to launch first ‘agentic’ crypto browser
New York-based Donut Labs has raised $7 million in a pre-seed funding round to build what it claims is the world’s first “agentic” crypto browser — a tool designed to help users interact with blockchain-based applications using artificial intelligence.
The round was led by Sequoia, Bitkraft and HackVC, with participation from angel investors including Solana and other ecosystem leaders, such as Matrix Partners, Sky9 Ventures, Makers Fund and SonicSVM.
The $7 million will support the development of Donut, an executable crypto browser powered by artificial intelligence agents, with a native cryptocurrency wallet and decentralized exchange integration, decentralized network access and onchain execution.
Unlike traditional web browsers, Donut’s AI algorithms understand page context and user intent, helping it autonomously execute blockchain-based operations.
“The traditional browser hasn’t changed for more than 30 years. We’re re-architecting everything,” said Donut founder and CEO Chris Zhu. “We’re reconstructing the front end of the internet to be hyper-financialized for AI
Bitcoin can reach $200K in 2025 after 'obvious' price breakout signal
Key points:
Bitcoin’s “cleanest trend indicator” is flashing bullish for the first time since mid-2024.
Previous signals mostly resulted in a BTC price blow-off top over the coming year.
Market commentators remain firmly bullish on price trajectory during consolidation after Bitcoin’s latest all-time high.
Bitcoin (BTC) is prepared for its “next major leg up” as a long-term indicator triggers for the first time since mid-2024.
Analysis uploaded to X by trading account Stockmoney Lizards on May 28 described an “obvious” BTC price breakout signal.
Analysis on Bitcoin breakout signal: “We’re there”
Bitcoin is ready to repeat its run to a cycle top, just like in 2016 and 2020, Stockmoney Lizards reports.
The Optimized Trend Tracker (OTT) tool, which offers price trend insights using moving averages and average true range data, is primed for Bitcoin’s next blow-off top.
“The pattern is so obvious it hurts,” the X post claims, calling OTT
Bybit secures MiCA license in Austria, opens EU base in Vienna
Bybit has obtained a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA), allowing the exchange to expand into the European market.
The approval allows Bybit EU, registered under commercial number 636180i, to operate as a regulated crypto asset service provider (CASP) and extend its services across all 29 European Economic Area member states.
As part of its expansion, Bybit has officially established its European headquarters in Vienna, Austria, according to a May 29 news release shared with Cointelegraph.
The move enables the platform to serve nearly 500 million Europeans under MiCA’s harmonized framework, which is designed to promote regulatory consistency, prevent illicit activity and protect consumers.
“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” said Ben Zhou, co-founder and CEO of Bybit. “We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the
Solana signals 40% crash vs. Ethereum amid cooling memecoin craze
Key takeaways:
SOL/ETH has broken below a rising wedge pattern, signaling a potential 40% decline.
Solana’s memecoin revenue has collapsed since April, weakening its core value proposition.
Standard Chartered warns Solana may underperform as Ethereum’s L2 ecosystem grows more competitive.
Solana’s (SOL) multiyear outperformance against Ethereum’s native token, Ether (ETH), is losing momentum, with technical breakdowns and weakening onchain activity pointing to a potential sharp decline in the SOL/ETH pair next.
SOL enters rising wedge breakdown stage
As of May 29, the SOL/ETH pair has confirmed a breakdown from its multimonth rising wedge pattern, a bearish structure that often precedes significant declines.
In technical terms, a rising wedge breakdown typically results in a drop equal to the pattern’s maximum height.
SOL/ETH weekly price chart. Source: TradingView
For SOL/ETH, this projects a downside target for July, near 0.038 ETH, representing a 40% decline from current levels.
The 50-week exponential moving average (50-week EMA; the red wave) around 0.0628 ETH
Reserve Bank of India to roll out new use cases for digital rupee
The Reserve Bank of India (RBI) is set to broaden the reach of its digital rupee pilots by introducing new use cases and features for both its retail and wholesale central bank digital currencies (CBDCs), according to the central bank’s Annual Report for 2024–25.
The central bank said it aims to explore programmability and offline capabilities for the digital rupee, features that may increase its applicability in areas with limited internet access and tailor payments for specific use cases such as government subsidies or corporate spending controls.
Currently, both versions of the CBDC are undergoing pilot testing. The retail CBDC pilot is being conducted with select customers and merchants through participating banks, while the wholesale pilot is targeting use in the interbank market.
Per the report, the retail pilot has reached 600,000 users across 17 banks. To further scale adoption, the RBI has allowed “certain non-banks […] to offer CBDC wallets.”
The wholesale pilot
Bubblemaps launches ‘Time Travel’ tool for insider activity, rug pulls
Blockchain intelligence platform Bubblemaps has launched the public version of its v2 product, offering new tools to help users detect insider activity and prevent memecoin-related scams.
Announced on May 29, Bubblemaps v2 follows a private beta testing period that attracted over 200,000 users. New features include “Magic Nodes,” which uncover hidden wallet connections among tokenholders, and “Time Travel,” a tool that reconstructs the historical distribution of tokens, potentially detecting early insider activity or coordinated accumulation efforts.
“Historical data in crypto is notoriously hard to access because it gets buried under endless new transactions,” Bubblemaps CEO Nicolas Vaiman told Cointelegraph.
“Time Travel changes that. It’s like watching a Big Bang, from the initial burst of a single bubble to a full-grown distribution,” he said.
Source: Bubblemaps
The tool allows users to rewind the token’s entire life cycle and evolving distribution structure, which will help them spot “early signs of manipulation or coordinated dumps,” Vaiman added.
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Solana firms make moves on staking, treasury and compliance
Solana-focused investment firm Sol Strategies filed a preliminary base shelf prospectus for up to $1 billion, as DeFi Development Corp. revealed it will adopt liquid-staked SOL for its treasury operations.
According to a May 27 Sol Strategies announcement, the publicly traded Canadian Solana investment and infrastructure company “will be permitted to make offerings of common shares” of up to $1 billion, but does not indicate an immediate offering. CEO Leah Wald said the move supports the company’s long-term growth plans.
“The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem,” she said.
Source: Sol Strategies
In a May 28 announcement, Solana treasury firm DeFi Dev announced its adoption of Solana liquid staking tokens. The firm will now divert part of its Solana holdings to the liquid staking token dfdvSOL.
The announcement followed DeFi Dev’s addition
Russia allows banks to offer crypto products to accredited investors
Russian banks have started rolling out crypto investment products tied to the price of Bitcoin following a greenlight from the central bank.