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Validation Cloud deploys Web3 AI engine on Hedera

Artificial intelligence platform Validation Cloud has launched a new large language model on the Hedera network, potentially giving decentralized finance users the ability to reach blockchain data in a more accessible way.

The Mavrik-1 AI engine has been deployed on Hedera, with several other planned integrations expected during a public rollout later this year, Validation Cloud’s team told Cointelegraph.

The AI engine is designed to allow users to interact with DeFi protocols and access blockchain data through natural language queries without needing technical expertise or knowledge.

Mavrik-1 uses live onchain data trained for DeFi, stablecoins and other blockchain applications.

Hedera DeFi metrics, including total value locked (TVL), decentralized exchange volume and stablecoin activity. Source: DefiLlama

“Despite DeFi accounting for over 50% of all onchain activity, accessing and interpreting that data remains a major hurdle for most users and institutions,” Validation Cloud told Cointelegraph, asserting that existing blockchain data tools like Dune, Flipside

SEC crypto task force to release first report 'in the next few months'

US Securities and Exchange Commission (SEC) Paul Atkins appeared before lawmakers in one of his first hearings since becoming chair of the financial regulator, addressing questions about his plans for the cryptocurrency industry.

In a May 20 hearing discussing oversight of the SEC, Atkins reiterated his pledge to make regulating digital assets a “key priority” while chair. In response to questions from North Carolina Representative Chuck Edwards, the SEC chair did not directly answer how much of the regulator’s funds were used to support the crypto task force headed by Commissioner Hester Peirce, and said its findings were “still under development.”

“We should be having something here in the next few months with proposed steps forward,” said Atkins in response to the task force’s first report.

The SEC chair’s appearance at the oversight hearing was one of his first since being sworn into office in April. Nominated

Argentina's Milei shuts down task force investigating LIBRA scandal

Argentine President Javier Milei has dissolved a task force established to investigate the fallout from LIBRA, the scandalous cryptocurrency project the head of state promoted on his social media channel before it crashed to zero.

The Investigative Task Force (ITU) was dissolved via a May 19 decree signed by Milei and Justice Minister Mariano Cúneo Libarona, government documents revealed.

“The Research Task Unit is dissolved” after completing its mandate, the translated version of the decree read.

The task force is being dissolved despite pressure from opposition groups, which are seeking to activate an investigative commission as soon as May 20, local media outlet Clarin reported.

A screenshot of Milei’s tweet endorsing LIBRA. Source: TRM Labs

Government officials established the UTI on Feb. 19, days after Milei promoted LIBRA on his official X account.

His endorsement briefly sent LIBRA soaring from practically worthless to $5 a token and a nearly

The crypto market values chains more than standalone applications

Opinion by: Hatu Sheikh, founder of Coin Terminal

Although blockchains and DApps are critical, crypto industry stakeholders often prioritize applications based on adoption principles and revenue distribution. DApps won’t function without their underlying chains. The markets must uphold blockchains for long-term value generation.

The value perspective is wrong

Blockchains and DApps should work collaboratively to coordinate their functions for better usability. Instead, analysts create a binary between chains and DApps based on Web2’s structural frameworks.

In “Fat Protocols,” Joel Monegro argued that value within the internet stack comprises “thin” protocols and “fat” applications. In other words, investing in the underlying protocol technologies like TCP/IP, HTTP, and SMTP gives lower returns than applications like Google and Facebook.

Monegro further stated that the value is reversed in the “blockchain application stack.” The underlying protocol layer accumulates more value than the application layer, leading to “fat” protocols and “thin” applications. He later<a data-ct-non-breakable="null"

Senate stablecoin vote splits Democrats amid concerns over corruption

US Senate Democrats are getting flak after they helped move stablecoin legislation ahead for discussion on the Senate floor.

On May 19, 16 Democratic senators broke from the party line to pass a motion to invoke cloture, which will now set the bill up for debate on the Senate floor. Some of the same Democrats had held up the bill in early May when they withdrew support, citing corruption concerns over President Donald Trump’s cryptocurrency dealings.

The bill’s opponents hailed lawmakers’ refusal to support it but were soon taken aback when the senators reversed their position. The lightly amended legislation contained no provisions regarding World Liberty Financial, the Trump family’s crypto venture.

Some activists have said that the Democrats supporting the bill should be ousted in the upcoming Democratic primaries in 2026, reflecting a growing rift in the Democratic Party.

The Senate voted 66-32 to move the bill ahead. Source: Stand With CryptoDemocratic lawmakers’

Robinhood proposes SEC rules for tokenized real-world assets

Robinhood has submitted a 42-page proposal to the US Securities and Exchange Commission (SEC), calling for a national framework to regulate tokenized real-world assets (RWAs).

The brokerage firm is seeking to modernize financial infrastructure by making tokenized assets legally equivalent to their traditional counterparts and enabling compliant onchain settlement, Forbes reported on May 20.

In the proposal, Robinhood also reveals plans for creating the Real World Asset Exchange (RRE), a trading platform offering offchain trade matching and on-chain settlement for efficiency and transparency.

Robinhood is advocating for uniform federal standards to replace the patchwork of state-level securities regulations that currently apply. The platform would also integrate Know Your Customer (KYC) and Anti-Money Laundering (AML) tools through partners like Jumio and Chainalysis to meet global compliance expectations.

Robinhood asks for token-asset equivalence

A key feature of the proposal is the

Kraken expands in Europe with regulated crypto derivatives

Cryptocurrency exchange Kraken announced the launch of regulated derivatives trading on its platform under the European Union’s Markets in Financial Instruments Directive (MiFID II).

According to a May 20 announcement, Kraken’s perpetual and fixed maturity crypto futures contracts will be available for trading by retail and institutional customers in the European Economic Area (EEA). The announcement follows the exchange acquiring an MiFID license in early February through the acquisition of a Cypriot investment firm, approved by the Cyprus Securities and Exchange Commission.

Kraken’s head of exchange, Shannon Kurtas, said, “Europe is one of the fastest-growing regions for digital asset trading and investment, with some of the most sophisticated and demanding clients and institutions.”

He added, “Clients and partners increasingly seek comprehensive offerings within a regulated framework.”

Source: Kraken Pro

Kraken had not responded to Cointelegraph’s request for comment by publication.

Release the Kraken

Kurtas said that following the deployment of the new derivatives products, “they [users]

Circle co-founder to create ‘AI-native’ bank after $18M raise

Circle co-founder and Catena Labs CEO Sean Neville has launched a project that aims to develop a financial institution that natively leverages artificial intelligence.

On May 20, Catena Labs, the company building an “AI-native financial institution,” announced that it secured $18 million in a funding round led by Andreessen Horowitz (a16z) Crypto, a16z’s crypto and Web3 venture capital arm.

Led by Neville, the company aims to realize its vision of a fully regulated financial institution for the AI economy. The company said it will be built for AI agents and human collaborators and will be operated by AI workers with human oversight and AI-specific risk management and compliance approaches.

Cointelegraph contacted Catena Labs to get more information about the project but received no response before publication.

Source: Catena LabsTraditional financial systems are “resistant” to AI

In the announcement, Catena Labs argued that conventional financial systems resist AI technology. The

German gov’t missed out on $2.3B profit after selling Bitcoin at $57K

The German government missed out on more than $2 billion worth of Bitcoin profit after selling its holdings in 2024, according to blockchain intelligence firm Arkham.

A “German Government (BKA)” labeled cryptocurrency wallet sold 49,858 Bitcoin (BTC) worth over $2.89 billion at an average price of $57,900 across multiple transactions during June and July in 2024.

The decision to sell the Bitcoin early cost the German government over $2.35 billion, according to crypto intelligence platform Arkham.

Source: Arkham

“If they had held it, their BTC would now be worth $5.24B,” Arkham said in a May 19 X post, noting that Bitcoin has risen more than 80% since the sale.

At the time of publication, Bitcoin was trading at more than $104,700, according to CoinMarketCap data.

Avalanche-backed Fusion launches with $100M to boost blockchain adoption

Avalanche, Helix and Faculty Group have launched Fusion, a new blockchain ecosystem aimed at driving real-world adoption through modular infrastructure tailored to specific industries.

Built on Avalanche, Fusion features a two-layer architecture that includes composers, customizable layer-1 networks and modules, which offer plug-and-play services like compute, identity and data oracles.

The team said this approach would be the answer for mainstream adoption, as they attempt to deliver “outcome-driven, domain-specific” blockchain-based economies.

“In order to achieve widespread adoption, our industry needs to shift from selling blockspace to delivering business value,” a Fusion spokesperson told Cointelegraph. They added that Fusion integrates economic alignment, network design and composability to achieve real-world outcomes.

Fusion expects traction in composer and module development

The Fusion team expects composers and modules — the two building blocks for the protocol — to gain traction in the next two to three years.

The spokesperson told Cointelegraph that they are starting with five composers and nearly 100