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Singapore’s Grab taps Solana DePIN project Natix to ‘reshape mapping’

Southeast Asia’s superapp Grab has partnered with Natix, a project within Solana’s decentralized physical infrastructure network (DePIN), to cooperate on mapping and autonomous driving technologies.

The joint collaboration aims to combine Natix’s blockchain-based mapping data with Grab’s camera hardware and mapmaking technology featuring artificial intelligence support, Natix said in an announcement on May 6.

“This partnership brings together the best of both worlds,” the announcement noted, pointing to Grab’s expertise in crowdsourced mapping and Natix’s unique DePIN model that rewards users for providing decentralized data input.

Source: Natix

“By combining GrabMaps’ AI-powered mapping technology with Natix’s decentralized data network, we’re enabling real-time, high-fidelity map updates across the globe,” Grab’s mapping service, GrabMaps, wrote in a LinkedIn post on Tuesday.

360° vehicle imagery for Tesla drivers

As part of the collaboration, Natix will launch VX360, a device built on

Bitcoin risks sub-$92K retest as BTC price fails to match 4% gold gains

Key points:

Bitcoin is struggling again as gold retakes the limelight with week-to-date gains of nearly 5%.

Bitcoin’s correlation with gold is under scrutiny amid ongoing macroeconomic shifts.

Traders see a short-term slump amid a wider BTC price rebound.

Bitcoin (BTC) eyed fresh month-to-date lows into the May 6 Wall Street open as “directionless” crypto markets contrasted with a gold rebound.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewAnalysis: Bitcoin, crypto “largely directionless”

Data from Cointelegraph Markets Pro and TradingView showed BTC price momentum stalling at $95,000 before the latest daily close.

Inching closer to the key yearly open support level at $93,500, BTC/USD appeared caught in limbo while gold returned to outperform.

XAU/USD was up 1.5% on the day at the time of writing, with week-to-date gains already at 4.4%.

XAU/USD 1-hour chart. Source: Cointelegraph/TradingView

“Crypto implied vols remain suppressed, with front-end

US stablecoin bill loses democrats amid Trump corruption concerns

Democratic lawmakers in Washington are backing off support for crypto legislation amid heightened concerns over corruption, including the conduct of the Trump family’s World Liberty Financial (WLFI).

In March, the GENIUS Act, which would regulate stablecoins in the US, passed a critical committee reading with the support of several pro-crypto Democrats. Democratic Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester, Andy Kim and Angela Alsobrooks voted with Republicans, opposite lead Democrat and prominent crypto critic Senator Elizabeth Warren.

The bill passed the committee only after a number of changes were made, including stricter requirements for stablecoin issuers and provisions for Anti-Money Laundering, countering terrorism financing and risk management procedures.

Now, it seems that even those provisions are insufficient to quell Democratic concerns. Following some high-profile crypto deals that personally enrich President Donald Trump, Congressional Democrats are pulling their support.

Bipartisan efforts on stablecoin bills

Bitcoin price forms two BTC futures gaps after Coinbase premium flips negative

Key takeaways:

Bitcoin’s Coinbase premium index turned negative for the first time in 15 days, indicating defensive short-term sentiment among US investors.

Bitcoin CME futures gaps between support at $92,000-$92,500 and resistance at $96,400-$97,400 suggest a period of range-bound trading.

Bitcoin’s Coinbase premium index, which measures the gap between BTC price at Coinbase Pro and Binance exchange, turned negative after a 15-day positive stint, signaling potential bearish sentiment among US investors.

This drop coincides with Bitcoin (BTC) slipping below $94,000, and the premium’s decline suggests reduced buying pressure on Coinbase, which is viewed as a proxy for both institutional and retail demand.

Bitcoin Coinbase premium. Source: CryptoQuant

Cointelegraph reported early signs of selling pressure, with Bitcoin recording over $300 million in negative spot cumulative volume delta (CVD) from April 27 to April 29,

Blockchains ready for institutions, lawyers hesitate: DoubleZero CEO

While blockchain infrastructure may be ready for institutional use, many legal teams at large firms remain cautious about full integration with the technology.

At the Token2049 event in Dubai, DoubleZero Labs founder and former Solana head of strategy Austin Federa told Cointelegraph that today’s high-performance blockchains like Solana are technically capable of supporting large-scale institutional usage. However, lawyers still need to catch up.

“Most blockchains nowadays, especially things like Solana, are fast enough for institutions to use them,” Federa said. “It’s really more about the institutions and the institution’s lawyers getting comfortable with crypto.”

Federa added that institutional lawyers and compliance teams are still addressing regulatory concerns. The executive said this may slow adoption despite the growing regulatory clarity in key markets like the United States.

DoubleZero Labs founder Austin Federa. Source: CointelegraphInstitutions are coming; they just move slow

According to Federa, technical infrastructure is no longer a primary barrier

Citi and SDX partner to tokenize traditional private markets

Investment bank Citi and Switzerland’s SIX Digital Exchange (SDX) are teaming up to modernize traditional private markets through tokenization.

The initiative, revealed during the Point Zero Forum in Switzerland, will leverage SDX’s blockchain-based Central Securities Depositary (CSD) platform to tokenize, settle, and safekeep assets, according to a May 6 announcement.

The platform, expected to go live by the third quarter of 2025, will make late-stage, pre-initial public offering (IPO) equities accessible to institutional and eligible investors globally.

For issuers, the project offers a compliant and scalable framework to manage liquidity, particularly for early investors and employees, while maintaining cap table control. For investors, it opens access to high-growth, venture-backed companies in a more efficient and transparent manner.

“We are excited to welcome Citi to the SDX platform and together deliver this landmark project in the tokenization of private shares,” said David Newns, head of SDX.

Newns added that this will “enable the

Research DAO claims paralyzed rats recover after spinal cord fix

Decentralized autonomous organization (DAO) HydraDAO claims that its researchers were able to use a novel technique to repair severed spines in rats.

In a May 5 X post, decentralized science (DeSci) project HydraDAO said that one of its research projects resulted in “rats who had their spines fully transected” being able to walk again. More notably, recovery from surgery reportedly only took five days.

Source: HydraDAO

The post featured a video of partially shaved (presumably due to surgery) rats walking in what appeared to be a laboratory setting. The effort in question is the Dowell spinal fusogens project led by Michael Lebenstein-Gumovski, which raised 380,700 USDC (USDC) from donors. The dedicated HydraDAO page reads:

“The Dowell team submitted a project proposal to HydraDAO. After careful consideration and two peer reviews, HydraCore deems

Crypto spending will grow, but fiat isn’t going anywhere: Mercuryo CEO

Petr Kozyakov, CEO of crypto payments platform Mercuryo, told Cointelegraph that the future of finance may not be a winner-takes-all scenario but a blend of digital assets and fiat, each used where it makes the most sense.

In a Cointelegraph interview, Kozyakov said that while crypto payments are seeing an increase in adoption and demand, the asset class won’t be fully replacing fiat money anytime soon. He said the two asset classes will coexist, with people choosing the more convenient payment option in different situations.

“We don’t think crypto will replace fiat,” Kozyakov told Cointelegraph. “They will coexist, and people will turn to crypto when it’s the easier, more practical option, whether that’s for payroll, yield or money transfers.”

Mercuryo Petr Kozyakov at the Token2049 event in Dubai. Source: CointelegraphCrypto payroll gains momentum as payment options expand

Crypto as a salary payment option is no longer a novelty. Kozyakov told Cointelegraph that more companies

IRS appoints Trish Turner to head crypto division amid resignations

Veteran US Internal Revenue Service (IRS) official Trish Turner was appointed to lead the agency’s digital assets division following the departure of two key crypto-focused executives.

Turner, who has spent over 20 years at the IRS and most recently served as a senior adviser within the Digital Assets Office, will now head the unit, according to a report from Bloomberg Tax citing a person familiar with the situation.

Her promotion marks a significant leadership transition at a time when US crypto tax enforcement is facing both internal and external pressures.

On May 5, Sulolit “Raj” Mukherjee and Seth Wilks, two private-sector experts brought in to lead the IRS’s crypto unit, exited after roughly a year in their roles.

Mukherjee served as compliance and implementation executive director, while Wilks oversaw strategy and development. Wilks announced his departure on LinkedIn, while Mukherjee confirmed his decision in a statement to Bloomberg Tax.

“The

OKX exec warns against hype amid real-world asset tokenization boom

Crypto exchange OKX’s CEO for its Middle East and North Africa (MENA) arm urged the industry to focus on delivering real-world utility as interest in real-world asset (RWA) tokenization accelerates.

In a Cointelegraph interview at the Token20249 event in Dubai, OKX MENA CEO Rifad Mahasneh warned that while tokenization is promising, projects must “clearly demonstrate” the benefits of tokenizing specific assets.

“In some cases, we’re tokenizing things that don’t need tokenization, but in some cases, we’re tokenizing things that actually give you real, everyday value, right? And if you can see that everyday value, then that is a promising project,” Mahasneh told Cointelegraph.

He said hype can drive project growth in the Web3 space, but providing everyday value should be the priority.

OKX MENA CEO Rifad Mahasneh at the Token2049 media lounge. Source: CointelegraphRWA tokenization gains traction in the UAE

Mahasneh’s comments come amid an increase in real-world asset tokenization projects in the Middle East,