Traditional Finance Drives Crypto Integration (2026-06-02)

Twenty One faces NYSE warning after SoftBank board exit

Twenty One Capital has received a New York Stock Exchange warning after board changes left its audit committee short of the required number of independent members. The company disclosed that it received a notice of non-compliance from the NYSE on May 29. It must fix the deficiency by June 5, or the NYSE will mark the stock with a below-compliance indicator starting June 9.

Twenty One Capital (XXI) shares fell approximately 5% to $6.90 following the news. The issue stems from a May 19 transaction in which Tether International bought SoftBank’s full stake in the company. SoftBank sold 89,106,748 Class A shares to Tether International, while 89,106,748 Class B shares held by SoftBank were canceled. This transaction also ended a governance agreement involving Twenty One, Tether Investments, SoftBank, and Bitfinex.

SoftBank-linked directors Jared Roscoe and Vikas J. Parekh resigned from the board and its committees after the transaction closed, stating the departures were not tied to any disagreements over operations or policies. Roscoe’s exit from the audit committee left the company without the two independent directors required by the NYSE during its transition period. Twenty One expects to appoint a new member who meets SEC Rule 10A-3 and NYSE independence standards as soon as practicable.

The company clarified that the current warning is a risk notice rather than a delisting decision, and the NYSE marker will be removed once compliance is regained. Twenty One, a Bitcoin treasury firm backed by Tether, Bitfinex, and Cantor Fitzgerald and led by Strike founder Jack Mallers, currently trades under the ticker XXI.

As previously reported, Tether recently acquired SoftBank’s position to gain tighter control over the listed Bitcoin vehicle. Reports also suggest Tether is backing a merger plan to combine Twenty One with Strike and Elektron Energy, which would integrate payments, financial services, and mining into the company’s existing Bitcoin treasury model. Having launched with over 43,500 Bitcoin, the firm continues to face market pressure following its public debut via a Cantor Fitzgerald-backed SPAC.

Tiger International: Starting June 12, new opening and additional positions for all varieties will be suspended for existing investor accounts within China

Tiger Brokers announced that, in order to comply with the industry regulatory requirements for the two-year concentrated rectification period and promote standardized development of cross-border securities business, Tiger Brokers will adjust its services for existing investors’ accounts within mainland China.

Effective from June 12, 2026 (Beijing Time), for domestic trading services: opening new positions or adding positions in all product categories—including stocks—will be suspended; only selling and closing-out operations will remain available. For domestic fund transfer services: fund inflows will be suspended, while fund outflows will remain fully operational to ensure customers’ fund security.

Tiger Brokers stated that this adjustment will not affect services provided to existing investors outside mainland China, nor will it impact the security of all customers’ existing assets. Customers may continue to check their account balances, hold, and sell existing positions normally.

[Odaily]

Symbiotic launches Liquid Lane network to provide instant redemption liquidity for RWAs

Symbiotic has launched a new liquidity network, Liquid Lane, offering near-instant stablecoin redemptions for funds, private credit, and other RWA (Real World Assets), solving the current redemption wait time issue—up to approximately 180 days.

This product routes investor redemption requests to a compliant market maker network via an RFQ (Request for Quote) mechanism. The winning market maker first purchases the assets using USDC, while the issuer completes settlement in the background. Redemption spreads and lending yields are allocated to a shared collateral pool. Initial participants include Fasanara Capital—the manager of mGLOBAL—as one of the treasury curators, and issuer Midas, among others.

Symbiotic states that its infrastructure currently secures over $550 million in assets.

[PANews]

Veda brings the vault stack behind Kraken DeFi Earn to Privy’s 2,000-plus developer teams

Vault infrastructure provider Veda is making its vaults available to the developer teams building on Privy, the wallet infrastructure company Stripe acquired last June, the two companies said Tuesday. The announcement was made at Proof of Talk 2026 at the Louvre Palace in Paris.

Until now, Veda’s vaults reached the market through one-off institutional integrations. Kraken used them to launch Kraken DeFi Earn, and EtherFi used them to build its Liquid product. Each of those took dedicated engineering and months of coordination, the kind of commitment most companies cannot justify. The Privy integration turns that into a standard API call.

“Until now, we didn’t have a way to bring our proven vault stack to thousands of startups who want to integrate onchain yield,” Sunand Raghupathi, Veda’s co-founder and CEO, said in a statement. “Any team building on Privy can now offer their users the same vault infrastructure that the biggest platforms in crypto use every day.”

Privy builds embedded crypto wallets that let fintechs and other businesses spin up easy-to-use wallets for their customers without seed phrases or external apps. The company now powers more than 120 million accounts across over 2,000 developer teams. In an interview ahead of the announcement, Raghupathi described it as close to a monopoly in its category, calling it “the largest embedded wallet solution in the world.”

That reach is the point for Veda. “This is like a match made in heaven, because what Privy gives Veda access to is distribution with some of the largest fintechs,” Raghupathi told The Block.

The integration makes Veda the first yield provider on Privy that is not built around lending, Raghupathi said in the interview. Privy had previously connected lending protocols like Aave, which he characterized as simple, single-asset solutions. Veda’s two launch vaults instead use diversified, multi-protocol strategies across leading EVM ecosystems, with developers free to set their own fee on top.

The vaults support major stablecoins, and Veda plans to add more allocation pathways, including top lending protocols, after general availability. The company said specific configurations and live yield networks will be published in its product documentation at launch. Raghupathi told The Block that the firm is eyeing yield opportunities across EVM chains and also Solana.

Raghupathi argued that yield is becoming a default expectation for any company holding stablecoins, for three reasons: retaining balances, attracting new users, and taking a cut of the yield as a new revenue stream. “Anyone who has stablecoins on their platform, which will eventually be every fintech on the planet, will eventually integrate yield,” he said.

The shift is already visible inside Privy’s own footprint. Stablecoins now make up 70% of assets held in Privy-powered wallets, up from 20% a year ago, according to the companies.

Amid a concerning uptick of hacks across DeFi, Veda notes that it has never had a major security incident, and Raghupathi said that record comes down to time in the market rather than any single safeguard. “Our core team has been building in this space for almost five years now, and there are some lessons that you can only learn with experience at scale,” he said, citing stablecoin depegs, protocol exploits, and liquidity crunches the team has worked through.

He did not downplay the stakes. “If I said anything other than security is my top priority, I think it would just destroy my credibility,” he said, framing it as a question of survival for the broader category. “The setup for crypto is unbelievable right now… and this feels inevitable, except if we ruin it by taking shortcuts, not taking security seriously, and just destroying the credibility of the industry.”

Veda recently hired Alberto Cuesta Cañada, a co-author of the ERC-4626 tokenized vault standard who previously led security at Optimism, as its VP of onchain security, Raghupathi told The Block. Last year, it brought on TuongVy Le, formerly general counsel at Anchorage and a six-year veteran of the Securities and Exchange Commission, as its own general counsel.

On compliance, Raghupathi said vaults carry different obligations than the permissionless protocols underneath them because they sit directly in front of users. Veda screens for OFAC sanctions and can restrict vaults to a whitelist of approved users, useful for a fintech that does not want its assets pooled with other companies’. He noted that SEC Chair Paul Atkins recently weighed in publicly on vaults and said that clearer rules would help the category. “In my opinion, regulation is actually really important for this category to succeed,” Raghupathi said.

He also drew a line on what Veda will support. “There are some products that we will just not support, and those are the ones that look more like opaque, very risky bets that are not worth it on a risk-return basis,” he said.

For Raghupathi, the Privy deal fits a broader bet that mainstream users will reach DeFi through apps they already trust rather than by going onchain themselves.

“There used to be this dream that we’re going to onboard the next billion users directly onchain,” he said. “But the reality is that’s not what’s going to happen. What’s actually going to happen is users are going to access these products through the apps that they already trust, whether it’s their exchanges like Kraken, whether it’s their brokerage accounts.”

He pointed to Kraken DeFi Earn as proof. The product has drawn more than $250 million in deposits in under four months, according to Veda, making it what the company calls the largest enterprise DeFi earn product on the market.

Raghupathi said success will be measured on two fronts: the range of enterprises Veda can onboard, and total value locked and user counts. Neobanks are driving early traction, he said, with payments and remittances companies likely next.

Privy CEO Henri Stern said the integration widens what developers can build. “Providing seamless access to Veda’s vault infrastructure through Privy’s APIs means any of our 2,000-plus developer teams can now launch a yield product that was previously only accessible to the largest institutions in crypto,” he said in a statement.

Access to Veda vaults for developers building on Privy is currently waitlisted, with the integration’s general launch planned for next month.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

[The Block]

Alphabet, Google’s parent company, will launch an $80 billion equity financing.

Google’s parent company, Alphabet, has announced the launch of an $80.00B equity financing, the largest in the company’s history.

In a statement, Alphabet said the financing is divided into three parts: a $30.00B underwritten public offering, a $40.00B at-the-market offering (starting in Q3 2026), and a $10.00B private placement to Berkshire Hathaway. The funds will be used to invest in world-class AI computing infrastructure to meet customer demand.

[Foresight News]

MoneyGram Enters the Stablecoin Race With MGUSD on Stellar

MoneyGram has officially launched MGUSD, a native dollar stablecoin built on the Stellar blockchain to power global remittances, digital balances, and financial services for millions of underbanked customers worldwide. A native stablecoin is a digital token pegged one-to-one to a fiat currency and issued directly by a regulated entity. MGUSD is MoneyGram’s own dollar-pegged token, launched today in the United States market with plans to scale globally.

The infrastructure relies on strong partners. Bridge, a Stripe company, acts as the regulated, GENIUS Act-ready issuer, while M0’s smart contract infrastructure handles all the minting and burning operations on the Stellar blockchain at launch. MoneyGram holds MGUSD in Fireblocks wallets, which then route the tokens to self-custodial wallets embedded directly inside the MoneyGram app. Customers get a stable, dollar-denominated balance integrated into the same app they already use.

The reach is significant. MoneyGram serves more than 60 million active customers through nearly 500,000 retail locations worldwide. Over 70% of its transactions are already digital, giving MGUSD a built-in distribution network from day one.

CEO Anthony Soohoo framed the launch as a fundamentally different approach to stablecoins. Instead of focusing on the asset itself, MoneyGram uses MGUSD as a foundation to build future applications on its global network. The target user is clear; MGUSD is designed not for crypto natives but for families sending money home and the billions of people facing inflation, currency instability, or limited access to traditional banking services.

The product gives those customers a dollar-denominated balance they can hold and access 24/7. They can move funds globally and convert into local currency on demand, from anywhere and at any time, directly from their phones. The Stellar partnership underpins the rollout. Stellar Development Foundation CEO Denelle Dixon called MGUSD the next milestone of a five-year collaboration that has already expanded financial access to millions of families across emerging markets.

For MoneyGram, this is the bridge between cash and digital rails. Faster transfers, programmable balances, and a unified omnichannel network position MGUSD to bring stablecoin utility into the hands of mainstream global users at real scale.

Bybit Options Weekly Report: BTC Head and Shoulders Top Pattern Appears, Extreme Sentiment in US Stocks Hides Risk of a Stampede

Bybit released its latest options weekly report (May 26 – June 2) stating that last week’s $78,000 core resistance level for BTC was fully realized, and BTC experienced a deep correction after being blocked from rising. Technically, BTC has formed a head and shoulders bearish reversal pattern, with the neckline in the $73,500-$74,000 range. A valid break below this range targets $65,000-$67,000 in the medium term, and $74,000 has become the new key resistance level.

On the macro front, US stocks continue to strengthen based on real profits from the AI hardware sector, forming a structural capital siphon; at the same time, US stock options sentiment has reached historical extremes, with the nominal trading volume of S&P 500 single-day call options breaking a record of $2.6 trillion. Goldman Sachs and Wells Fargo have simultaneously warned that the conditions for a “long squeeze” have matured, and the risk will be transmitted to the crypto market through ETF outflows.

Currently, DVOL is still at a historical low, coupled with multiple downside risks, it is recommended to allocate 1%-2% of the account’s net value to June BTC put options as tail risk protection.

[Foresight News]

Cryptocurrency concept stocks fell broadly in pre-market trading in the U.S. stock market, with MSTR down 3.09%.

According to MSX.COM data, U.S. crypto-concept stocks fell across the board in pre-market trading, with CRCL down 1.89%, COIN down 2.24%, MSTR down 3.09%, and HOOD down 2.03%.

MSX is a leading RWA trading platform that has listed hundreds of RWA tokens, covering U.S. stock and ETF token targets such as AAPL, AMZN, GOOGL, META, MSFT, NFLX, and NVDA.

[Odaily Planet Daily News]

MetaMask launches embedded wallets, supporting login via email, social accounts, and SMS.

MetaMask has announced that its embedded wallets are now live and can be managed through the MetaMask developer dashboard. The Web3Auth name will no longer be used, as the wallet infrastructure used by McDonald’s, eBay, NBC Universal, and hundreds of other teams is now fully integrated into the MetaMask developer ecosystem.

MetaMask embedded wallets support embedding self-custody wallet infrastructure directly into applications, games, or platforms, allowing their users to log into existing wallets using email, SMS, and social accounts.

[Foresight News]

Beijing Economic-Technological Development Area (BDA) held a symposium with space computing power enterprises to discuss and deploy the construction of the Space Computing Power Innovation Center.

Wang Lei, Deputy Secretary of the Working Committee and Director of the Management Committee of Beijing Economic-Technological Development Area, presided over a symposium for space computing power enterprises to listen to relevant companies’ opinions and suggestions on building a space computing power industry highland in Beijing Yizhuang, and to study and deploy the construction of a space computing power innovation center.

The participating entrepreneurs unanimously stated that space computing power is a new track for the integrated development of commercial aerospace and the digital economy. It has become a new frontier in global technological competition and has significant strategic value and commercial prospects. The recent establishment of the Beijing Space Intelligent Computing Research Institute by the Beijing Economic-Technological Development Area is an important step in building a high-level Beijing Space Computing Power Innovation Center and a key move in promoting the space computing power industry from blueprint to reality.

Enterprises will actively participate in the construction of the research institute, leverage their respective advantages in satellite manufacturing, computing power chips, communication payloads, energy materials, software scheduling, precision devices, and other fields, and jointly tackle key common technical problems such as space-based radiation-resistant chips, inter-satellite laser communication, and efficient thermal control power supply. They will accelerate the on-orbit verification and large-scale networking of computing power satellites, create a complete innovation chain and industrial chain of “constellation + terminal + service”, and promote the construction of an independent and controllable, safe and reliable space computing power technology and standard system, contributing wisdom and strength to China’s construction of a strong aerospace nation and a strong cyber nation.

[Securities Times]

MoneyGram debuts MGUSD stablecoin on Stellar for its global payments network

MoneyGram has launched MGUSD, a native U.S. dollar stablecoin, positioning its own digital currency at the center of a global payments network that reaches more than 60 million active customers.

MGUSD runs natively on the Stellar blockchain, a Tuesday announcement revealed. Bridge, a Stripe company, serves as the regulated issuer under the GENIUS Act framework, with M0’s smart contract infrastructure handling minting and burning.

Fireblocks provides the custody infrastructure, with MoneyGram holding MGUSD in Fireblocks wallets before distributing funds to customer wallets embedded in the MoneyGram app. The stablecoin launches initially in the U.S., with global scaling planned.

“MGUSD is the stablecoin we built for our customers, for the families sending money home and for the billions of people around the world with limited financial access,” MoneyGram Chairman and CEO Anthony Soohoo said in a statement.

The launch also deepens a partnership with the Stellar Development Foundation that stretches back more than five years, during which MoneyGram ran stablecoin-powered money movement using Circle’s USDC before graduating to its own issuance. Stellar Development Foundation CEO Denelle Dixon called MGUSD the “next milestone” in demonstrating what a purpose-built blockchain can deliver when paired with a trusted payments network.

MoneyGram has been methodically building toward this point. The company tapped Fireblocks for stablecoin settlements in December and was named an anchor remittance validator on the Stripe and Paradigm-backed Tempo blockchain last month. In May, it also expanded its on-ramp footprint by supporting crypto-to-cash withdrawals for Kraken users.

The move puts MoneyGram alongside a wave of legacy payments players pushing proprietary stablecoin rails. Western Union has announced a USDPT stablecoin on Solana, while PayPal and Visa have each embedded stablecoin infrastructure into their own cross-border settlement stacks.

[The Block]

Veda integrates Privy to provide Kraken DeFi Earn’s same-yield vaults for over 2,000 development teams.

PANews, June 2: Veda, a treasury infrastructure provider, announced that its enterprise-grade treasury stack is now available to over 2,000 developer teams within Privy—the wallet infrastructure company acquired by Stripe—via a self-service API.

Previously, this treasury was only accessible through custom partnerships with Kraken DeFi Earn and EtherFi Liquid. This integration enables developers to instantly offer multi-protocol, decentralized stablecoin yield products to Privy’s embedded wallet users—and to set their own markup fees.

Veda states that its treasury is built on the non-custodial BoringVault standard, supports major stablecoins, and plans to expand to additional EVM chains and Solana following its official launch.

[The Block]

Canadian Bitcoin mining company Hive Digital sold 331 Bitcoins in Q1 and currently holds only 150 Bitcoins.

On June 2, according to BitcoinTreasuries.NET, Canadian-listed Bitcoin mining company Hive Digital (HIVE) sold 331 BTC in Q1 2026 and now holds only 150 BTC.

In the “Bitcoin 100” ranking of corporate Bitcoin holdings, Hive Digital has dropped to #96 after reducing its Bitcoin holdings to 150 BTC, falling out of the top tier of major holders.

[PANews]

Vitalik Buterin proposes options-based synthetic assets to avoid liquidations and reduce reliance on real-time oracles

Ethereum co-founder Vitalik Buterin proposed a new framework for building synthetic assets and algorithmic stablecoins that replaces forced liquidations with options as the foundational primitive instead of debt-based positions.

In a post published Monday to the Ethereum research forum, Buterin argued that the core vulnerability of existing algorithmic stablecoin designs is their dependence on real-time oracles — price feeds that must provide binding, instantaneous valuations to trigger liquidations when collateral falls short. That dependence, he wrote, creates a single point of failure that is both technically difficult to secure and practically impossible to protect against oracle manipulation with any meaningful recourse window.

His proposed alternative strips out liquidations altogether. The system splits one unit of ETH into two assets — a protected position and a leveraged position — tied to a given strike price and maturity date. At maturity, an oracle resolves the index value and distributes ETH between the two holders according to a fixed formula. Because the two positions always sum to exactly one ETH, the design eliminates the insolvency risk associated with undercollateralized debt positions.

The practical consequence is that instead of sharp, binary liquidation events, a user’s exposure to the underlying index drifts quadratically as prices move toward the strike price. Buterin acknowledged this is a meaningful tradeoff since the user must actively rebalance positions before maturity to maintain their desired exposure. However, he argued the drift is more manageable than it appears, and that tolerating a standard deviation of roughly one to four percent per year is underrated given that fiat currencies themselves move by more against each other.

A key structural advantage of the design is that it can run on “slow oracle,” which is the type prediction markets use that allows for extended dispute windows and human recourse in the event of manipulation. In his view, it’s a better option than the real-time price feeds that current liquidation-based protocols require. Buterin wrote that he would feel significantly safer holding algorithmic stablecoins within this architecture than in anything that depends on an oracle that must provide real-time answers.

The open question he flagged is whether rebalancing can be made sufficiently slippage-resistant to remain competitive. He suggested the solution lies in treating rebalancing as one-sided market making rather than instant execution, exploiting the fact that users typically have very low time preference for the exact timing of a rebalance.

The proposal connects directly to a broader thesis Buterin has been developing. In February, The Block reported that he had called for prediction markets to shift from speculative bets toward AI-powered hedging tools and personalized price-index baskets — an architecture he tied to the possibility of entirely replacing fiat-pegged stablecoins. The new research post introduces the onchain mechanics that could underpin that vision.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. [The Block]

Michael Saylor: Urges shareholders to support the bi-monthly dividend plan during the final voting week

Michael Saylor posted on the X platform that this is the final voting week to support the bi-monthly dividend plan, calling on shareholders who have not yet voted to participate immediately.

He believes that this upgrade will help improve the effectiveness of Digital Credit for BTC, MSTR, and STRC, and calls on shareholders to spread the message to other holders for support.

[Odaily]

A bar in New York invested $5,000 in Kalshi to hedge against the Knicks’ free-drink promotion.

The Jeffrey, a bar in New York’s Upper East Side, launched a promotion during NBA Finals Game 1: if the New York Knicks won, all drinks for customers that night would be on the house.

Simultaneously, the bar placed a $5,000 hedge position on the prediction market Kalshi by purchasing a “Knicks Win” contract. If the Knicks won, the bar would absorb the cost of customers’ drink bills, but the Kalshi contract’s profit would offset that loss; if the Knicks lost, the bar wouldn’t need to cover any drink bills and would only incur the hedging cost.

Bar owner Andy Freedman stated that this approach allows the bar to launch bolder marketing campaigns while keeping risk under control.

[Foresight News]

Crypto.com integrates with TradingView for direct trading on charts

Crypto.com has announced a partnership with TradingView to become its official broker, enabling TradingView users to connect their Crypto.com exchange accounts and trade directly via TradingView’s global charting platform.

With this feature, eligible users can now trade not only cryptocurrencies directly on TradingView charts, but also a broader range of assets—including traditional assets such as stocks and commodities, IPO pre-market perpetual contracts, and on-chain assets such as tokenized real-world assets (RWA).

[Foresight News]

Coinbase Provides Stablecoin Payment Support for Checkout.com’s Enterprise Merchant Network

Coinbase Payments announced a partnership with payment service providers (PSPs) to offer stablecoin payment services to qualified merchants of its enterprise clients.

This integration directly connects Coinbase’s regulated infrastructure to Checkout.com’s platform.

[Foresight News]

Kalshi eyes XRP, Solana and Dogecoin perps after Bitcoin approval

Kalshi has reportedly filed to certify perpetual futures tied to XRP, Solana, Dogecoin and other major crypto assets in the United States. The reported filing would expand Kalshi’s crypto derivatives plan beyond Bitcoin, as noted in a post from BankXRP.

The filing has not yet received the same public approval as Kalshi’s Bitcoin perpetual contract. For that reason, the XRP product should be treated as a reported filing, not a confirmed launch.

Kalshi’s Bitcoin perpetual futures contract recently received approval from the Commodity Futures Trading Commission (CFTC). The regulator stated that Kalshi submitted the BTCPERP contract for review under Commission Regulation 40.3, and encouraged firms to submit products based on other assets for review and approval before listing them. This means that even if Kalshi has filed the products, each contract may still need a separate review path before it can trade.

Reports indicate that Kalshi plans to use CF Benchmarks pricing data for its proposed crypto perpetual products. This framework may help Kalshi set reference prices and funding rates for perpetual contracts, which do not expire and usually use funding payments to keep futures prices close to spot prices.

XRP already has a wider institutional market structure than in past cycles, with CME using CF Benchmarks data for XRP futures. Kalshi is currently competing in a fast-moving U.S. derivatives race alongside Coinbase and Kraken, both of which are also pursuing regulated routes for institutional crypto products.

Kalshi has grown beyond its original prediction market base, recently reaching a $22 billion valuation after a $1 billion Series F round. If approved, the new filings could give U.S. traders a regulated way to trade price exposure for XRP, Solana, and Dogecoin without holding the tokens directly. For now, these remain reported filings until the regulator confirms approval or Kalshi announces a formal launch.

[crypto.news]