重要な発見
重要な発見（13件）
- 1.CertiK CEO Ronghui Gu reported April 2026 was the worst month for DeFi exploits in four years, with hacks occurring on 27 out of 30 days, a pace attributed to AI-driven attacks where attackers spend $10,000–$20,000 in compute tokens to run continuous vulnerability scans against defenders operating under strict project budgets [5].
- 2.The DeFi United coalition raised approximately $160 million of the $200 million needed to cover bad debt from the KelpDAO exploit, with Mantle and Aave DAO contributing a combined 55,000 ETH or $127 million, while a technical proposal was released to restore rsETH backing and free approximately 13,000 ETH from Aave alone [6] [7].
- 3.Paxos Securities Settlement Company received full SEC registration to operate as a central securities depository, becoming the first blockchain firm authorized to provide clearing and settlement services for traditional U.S. equities, enabling same-day or near-instant settlement [8].
- 4.The tokenized RWA market surpassed $27.5 billion in total value but only $1.7 billion is actively used in DeFi, with Dune Analytics describing the market as split into a reserve layer and a composable yield layer [4].
- 5.DefiLlama data shows total DeFi TVL at $80.472 billion, down from $81.695 billion in the prior period, with Lido at $17.945 billion and Aave at $13.916 billion as the two largest protocols [1].
- 6.A supply-chain attack called TrapDoor planted more than 34 malicious packages across npm, PyPI, and Crates.io targeting Solana, Sui, and Aptos wallet developers to steal wallet files, SSH keys, GitHub tokens, and cloud credentials, with attackers also abusing AI configuration files to hijack future AI coding sessions [11].
- 7.JPMorgan CEO Jamie Dimon publicly warned the current CLARITY Act framework could ultimately fail, arguing the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, while a coalition of over 100 crypto firms continued pressing the Senate Banking Committee to advance the legislation [16].
- 8.The CFTC issued landmark approvals for crypto perpetual futures contracts at Kalshi and Coinbase on May 29, 2026, establishing the first U.S. regulatory framework for this product class; U.S. regulated platforms currently handle only 1.6% of global crypto derivatives volume [15].
- 9.Grayscale described Hyperliquid as generating roughly $800 million in revenue in 2025 while processing approximately $2.9 trillion in perpetual futures volume and holding about $7 billion in open interest, with analysts describing it as a potential 'financial services juggernaut' [14].
- 10.DeFi yields have collapsed to levels that no longer justify the traditional risk premium, with Aave's flagship USDC pool at approximately 2.61% APY against the 3.14% available at Interactive Brokers, while Ethena's sUSDe compressed from over 40% APY at its peak to around 3.5% and its TVL fell from roughly $11 billion to $3.6 billion [10].
- 11.Apex Group, which services $3.5 trillion in assets, committed to $100 billion in tokenized assets on T-REX Ledger by June 2027, a blockchain built using Polygon CDK around the ERC-3643 compliance-embedded token standard used by 140+ institutions [17].
- 12.The total stablecoin market cap stands at $320.141 billion with USDT dominance at 58.77%, while Polygon's Open Money Stack processed $54 billion in stablecoin transfer volume across 159 million unique wallet addresses, and Stripe integrates stablecoins across its nearly $2 trillion annual payment stack [2] [18].
- 13.Standard Chartered maintained its forecast that tokenized RWAs will reach a $2 trillion market cap by end-2028, up from $35 billion in October 2025, noting the KelpDAO exploit was a 'speed bump, not roadblock' for institutional DeFi adoption [13].
エグゼクティブサマリー（11件）
- •DeFi's security environment deteriorated to crisis levels in April–May 2026, with CertiK reporting hacks on 27 of 30 days in April — the worst pace in four years — driven by AI-powered attack tooling that attackers can deploy for as little as $10,000–$20,000, creating a structural asymmetry favoring attackers over budget-constrained defenders .
- •Despite the ongoing security crisis, institutional tokenization reached landmark milestones: Paxos became the first blockchain firm to receive full SEC registration as a central securities depository, and the Securitize-Computershare partnership opened a path for parts of the $70 trillion U.S. equities market to move onchain [8] [9].
- •The KelpDAO exploit recovery continued to progress, with the DeFi United coalition raising $160 million of the $200 million needed, supported by a detailed technical proposal to restore rsETH backing and unwind bad loans, while Standard Chartered described DeFi as resilient and maintained its $2 trillion tokenized RWA forecast by end-2028 [6] [13].
- •Total DeFi TVL declined to $80.472 billion from $81.695 billion in the prior period, reflecting continued post-exploit capital outflows, while the stablecoin market cap reached $320.141 billion with USDT dominance at 58.77% [1] [2].
- •The U.S. CLARITY Act debate reached a new flashpoint as JPMorgan CEO Jamie Dimon publicly clashed with Coinbase CEO Brian Armstrong over stablecoin yield provisions, warning that banks will not accept a framework allowing stablecoin issuers to effectively pay interest on deposits without bank-style protections [15].
- •The CFTC's landmark approval of crypto perpetual futures at Kalshi and Coinbase on May 29, 2026 established the first U.S. regulated framework for this product class, potentially opening a pathway for regulated firms to capture a larger share of the estimated $14 trillion in offshore derivatives volume from the current 1.6% U.S. market share [15].
- •Hyperliquid emerged as a significant decentralized financial infrastructure play, with Grayscale and FalconX both noting its roughly $800 million in 2025 revenue, $2.9 trillion in perpetual futures volume, and potential to compete with CME Group and prediction market operators [14].
- •The tokenized RWA market bifurcated into a reserve layer and a composable yield layer, with only $1.7 billion of the $27.5 billion total actively deployed in DeFi, per Dune Analytics research, while DefiLlama tracked total RWA active market cap at $26.616 billion across 160 active asset issuers [4] [3].
- •DeFi yields have fallen below traditional finance benchmarks — Aave USDC at 2.61% APY versus Interactive Brokers at 3.14% — forcing a structural shift toward real-world asset backing, with approximately 70% of Sky's income now derived from offchain sources [10].
- •Enterprise stablecoin payment infrastructure became a major competitive battleground, with Polygon's Open Money Stack processing $54 billion in stablecoin volume across 159 million wallets, Stripe integrating stablecoins into its nearly $2 trillion payment stack, and Visa partnering with WeFi to build onchain banking services [18].
- •Supply-chain security emerged as a distinct threat vector, with the TrapDoor campaign planting over 34 malicious packages targeting Solana, Sui, and Aptos developers across npm, PyPI, and Crates.io, while Anthropic's Mythos model shifted security focus toward infrastructure risks including key management, bridges, and oracle networks [11] [12].
市場動向
DeFi Security Crisis Deepens as AI-Powered Attacks Reach Near-Daily Frequency
The DeFi security environment deteriorated sharply through late April and May 2026, with CertiK CEO Ronghui Gu reporting that April was the worst month for DeFi exploits in four years, with hacks occurring on 27 out of 30 days, a pace he attributed to AI-driven attacks [5]. The Kelp DAO exploit recovery effort continued to progress, with the DeFi United coalition raising approximately $160 million of the $200 million needed to cover bad debt, with Mantle and Aave DAO contributing a combined 55,0…
Tokenized RWA Market Splits Into Reserve and Composable Yield Layers
The tokenized real-world asset market has surpassed $27.5 billion in total value but only $1.7 billion is actively used in DeFi, with Dune Analytics research describing the market as having split into a reserve layer and a composable yield layer [4]. DefiLlama data shows total RWA active market cap at $26.616 billion, with leading platforms including Securitize at $4.35 billion and Ondo Finance at $3.88 billion [3]. Apex Group, which services $3.5 trillion in assets, committed to $100 billion in…
Stablecoin Legislation Battle Intensifies as CLARITY Act Debate Divides Banks and Crypto
The U.S. stablecoin regulatory debate escalated sharply in late May 2026, with JPMorgan CEO Jamie Dimon publicly criticizing Coinbase CEO Brian Armstrong and warning the current CLARITY Act framework could ultimately fail, arguing the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections [15]. The CFTC issued landmark approvals for crypto perpetual futures contracts at Kalshi and Coinbase, establishing the first U.S. regulatory stance on how regula…
DeFi Yield Compression Forces Structural Shift Toward Real-World Asset Backing
DeFi yields have collapsed to levels that no longer justify the risk premium over traditional finance, with Aave's flagship USDC pool offering approximately 2.61% APY against the 3.14% available on idle cash at Interactive Brokers, undermining one of DeFi's core value propositions [10]. The CoinDesk Overnight Rate, which tracks daily borrowing costs across DeFi lending markets, spiked above 35% during the 2023 bull run before collapsing to roughly 3.5% by early 2026 [10]. Ethena's sUSDe product,…
Hyperliquid and Onchain Perpetuals Emerge as 24/7 Global Market Infrastructure
Hyperliquid, a decentralized trading platform that began as a crypto perpetual futures exchange, is increasingly being viewed by Wall Street analysts as a broader financial infrastructure play. Grayscale described Hyperliquid as generating roughly $800 million in revenue in 2025 while capturing meaningful market share in crypto perpetual futures, and said the platform 'could become a financial services juggernaut' if it continues to execute well [14]. The platform processed roughly $2.9 trillion…
競合動向
Tokenized RWA Market Splits Into Two Distinct Layers
The tokenized real-world asset market has surpassed $27.5 billion but is bifurcating into two distinct segments. According to Dune research published May 27, 2026, only $1.7 billion of tokenized RWAs is actively used in DeFi, with the market splitting into a reserve layer and a composable yield layer [4]. DefiLlama data shows total RWA active market cap at $26.616 billion across 160 active asset issuers, with BlackRock BUIDL at $2.981 billion and Ondo Finance at $3.88 billion among the largest p…
AI-Powered Attacks Escalate DeFi Security Crisis to Near-Daily Exploits
DeFi's security environment deteriorated sharply, with CertiK CEO Ronghui Gu stating that April 2026 was the worst month for DeFi exploits in four years, with hacks occurring on 27 out of 30 days, a pace he attributed to AI-driven attacks [5]. Gu described an 'unfair game' where attackers can spend $10,000 to $20,000 in compute tokens to run continuous vulnerability scans for days, while defenders operate under strict project budgets. Anthropic's Mythos AI model is further shifting DeFi security…
Stablecoin Regulation Battle Intensifies Around CLARITY Act Yield Provisions
The U.S. stablecoin regulatory debate escalated into a direct confrontation between banks and crypto firms over yield-bearing stablecoin products. JPMorgan CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned the current CLARITY Act framework could ultimately fail, arguing the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, with Dimon stating 'the banks will not accept it' [15]. The CFTC issued landmark approvals for crypto per…
Ethereum Protocol Upgrades Target Gas Limits and Account Abstraction
Ethereum core development accelerated during the reporting period, with over 100 core contributors gathering in Svalbard, Norway for the Soldøgn Interop focused on hardening the Glamsterdam network upgrade. By the end of the week, the group delivered alignment on a post-Glamsterdam gas limit floor of 200 million, stable ePBS implementations running with external builders, and final EIP-8037 repricing numbers locked in [22]. A subsequent May 2026 update confirmed the 200 million gas limit floor a…
Polygon and Stripe Compete to Build Enterprise Stablecoin Payment Infrastructure
Enterprise blockchain payment infrastructure became a major competitive battleground, with Polygon and Stripe each advancing distinct approaches to onchain money movement. Polygon launched its Open Money Stack in May 2026, describing it as a unified API for moving money across chains with ramps, wallets, and settlement in one integration, processing $54 billion in stablecoin transfer volume across 159 million unique wallet addresses [Source: https://polygon.technology/open-money-stack (company a…
制度・規制動向
CFTC Approves First U.S. Crypto Perpetual Futures Contracts
The U.S. Commodity Futures Trading Commission issued landmark approvals for crypto perpetual futures contracts, establishing the first regulated U.S. framework for this product class. CoinDesk reported that the CFTC granted approvals to Kalshi and Coinbase, noting that while 24/7 trading is appropriate for crypto, it may not be suitable for other sectors [15]. The CFTC's move is significant because U.S.-regulated platforms currently handle just 1.6% of global crypto derivatives volume, and the n…
SEC Approves Paxos as First Blockchain-Based Clearing and Settlement Firm
Paxos Securities Settlement Company, LLC received full registration from the U.S. Securities and Exchange Commission to provide clearing and settlement services, making it the first blockchain firm authorized to operate as a central securities depository for traditional equities in the U.S., positioning it alongside legacy post-trade frameworks like the DTCC [8]. The approval, based on the SEC's response to Paxos on March 11, enables same-day or near-instant settlement of eligible securities usi…
U.S. CLARITY Act Stablecoin Debate Intensifies Over Yield-Bearing Products
The ongoing U.S. CLARITY Act legislative process reached a new flashpoint in late May 2026, with JPMorgan CEO Jamie Dimon publicly criticizing Coinbase CEO Brian Armstrong and warning that the current CLARITY Act framework could ultimately fail if banks' concerns over stablecoin regulation are not addressed [15]. Dimon argued the bill would allow stablecoin issuers to effectively pay interest on deposits without bank-style protections, predicting that banks would not accept the current framework…
AI-Powered Attacks Escalate as DeFi Security Remains Institutional Barrier
DeFi security deteriorated further in the weeks following the KelpDAO exploit, with CertiK CEO Ronghui Gu reporting that April 2026 was the worst month for DeFi exploits in four years, with hacks occurring on 27 out of 30 days, a pace Gu attributed to AI-driven attacks [5]. Gu identified AI attacks, smart contract vulnerabilities, oracle manipulation, and cross-chain bridge hacks as the primary blockers preventing traditional financial institutions from moving trillions of dollars of assets onch…
Tokenized RWA Market Bifurcates as Institutional Rails Mature
The tokenized real-world asset market surpassed $27.5 billion in total value but research from Dune Analytics found that only $1.7 billion is actively used in DeFi, with the market splitting into a reserve layer and a composable yield layer [4]. DefiLlama data shows total RWA active market cap at $26.616 billion with 160 active asset issuers, led by Tether Gold at $3.187 billion, BlackRock BUIDL at $2.981 billion, and Ondo Finance at $3.88 billion TVL [3]. Apex Group, which services $3.5 trillio…
ソース活動
重要な変化の整理
DeFi TVL and Stablecoin Market Metrics Shift
更新According to DefiLlama, total value locked in DeFi now stands at $80.472 billion, down from the previously reported $81.695 billion, reflecting continued post-exploit capital pressure. The stablecoin market cap reached $320.198 billion with USDT dominance at 58.77%. DEX 24h volume was $4.001 billion while perpetuals 7-day volume reached $129.592 billion. Top protocols by TVL include Lido at $17.945 billion and Aave at $13.916 billion. CertiK CEO Ronghui Gu told CoinDesk that April was 'the worst…
KelpDAO Exploit Recovery and DeFi Security Reckoning
更新The DeFi United recovery effort for the $292 million KelpDAO exploit has progressed, with Aave raising approximately $160 million of the $200 million needed to cover bad debt, per Arkham data cited by CoinDesk. Mantle and Aave DAO contributed a combined $127 million. A detailed technical proposal was released to restore rsETH backing and unwind bad loans. Standard Chartered maintained its $2 trillion tokenized RWA forecast by end-2028 despite the crisis. JPMorgan separately warned that hack loss…
Tokenization Reaches New Institutional Milestones
更新Tokenization momentum continued to build across multiple fronts. Paxos received full SEC registration as a central securities depository, becoming the first blockchain firm authorized to clear and settle U.S. equities on blockchain rails, positioning it alongside legacy infrastructure like DTCC. According to CoinDesk, Securitize and Computershare announced a partnership to bring parts of the $70 trillion U.S. stock market onchain via Issuer-Sponsored Tokens. Dune Analytics research found tokeniz…
Stablecoin Payment Rails Expand into Mainstream Commerce
継続監視Stablecoin payment infrastructure continued to expand into mainstream commerce. According to CoinDesk, DoorDash is working with Stripe-backed Tempo blockchain to bring stablecoin-powered payouts to its global marketplace operating in more than 40 countries. Stripe, which processes nearly $2 trillion in annual payments, is integrating stablecoins across its core payments stack aiming to become 'AWS for money.' Visa joined the Tempo blockchain as a validator after six months of joint work with Tem…
U.S. Crypto Regulation Advances with CFTC Perp Approvals and Clarity Act Debate
更新U.S. crypto regulatory activity intensified on multiple fronts. The CFTC issued landmark approvals for crypto perpetual futures contracts at Kalshi and Coinbase, establishing the first U.S. regulatory framework for crypto perps, according to CoinDesk. A coalition of over 100 crypto firms including Coinbase and Ripple continued pressing the Senate Banking Committee to mark up the Clarity Act. JPMorgan CEO Jamie Dimon publicly criticized the Clarity Act framework, warning that stablecoin yield pro…
示唆・見るべき論点（10件）
- 1.The structural asymmetry in DeFi security — where attackers can spend $10,000–$20,000 to conduct continuous AI-driven scans while defenders operate under fixed project budgets — represents a market failure that individual protocol security spending cannot resolve; industry-level shared security infrastructure or insurance mechanisms may be required to rebalance incentives [5].
- 2.Paxos's SEC registration as a central securities depository creates a regulated blockchain-based alternative to DTCC clearing infrastructure for the first time in U.S. history; combined with the Securitize-Computershare partnership targeting $70 trillion in equities, the post-trade settlement layer is now the most advanced front in institutional blockchain adoption [8].
- 3.The bifurcation of the tokenized RWA market into a $25+ billion reserve layer and a $1.7 billion DeFi-active composable layer suggests that institutional demand for tokenization is primarily about settlement efficiency and regulatory compliance rather than DeFi yield, meaning the growth path for RWA composability requires solving regulatory and risk management barriers before the reserve layer assets will migrate into DeFi protocols [4].
- 4.Hyperliquid's combination of $2.9 trillion in perpetual futures volume, $800 million in 2025 revenue, and expansion into tokenized equities and prediction markets positions it as a potential consolidated global trading venue that operates 24/7 across asset classes currently fragmented across CME, Kalshi, Polymarket, and offshore crypto exchanges — a competitive threat that existing regulated venues have no structural defense against [14].
- 5.The CFTC's approval of crypto perpetual futures for regulated U.S. firms, combined with the U.S. market's current 1.6% share of global crypto derivatives volume, creates a potential large-scale migration of offshore volume to regulated venues — but the timing will be determined by whether the CLARITY Act resolves the yield-bearing stablecoin dispute that JPMorgan has publicly stated banks will not accept [15].
- 6.DeFi yield compression to sub-3% levels — below traditional savings benchmarks — eliminates the risk-adjusted value proposition for retail DeFi participation, but accelerates the structural integration of real-world assets into DeFi protocols as the only viable source of competitive yield; approximately 70% of Sky's income already derives from offchain sources, suggesting DeFi protocols are functionally becoming onchain wrappers for TradFi yields [10].
- 7.The TrapDoor supply-chain attack's use of AI configuration file hijacking to compromise future AI coding sessions represents a qualitative escalation in developer-targeted attacks: rather than stealing current credentials, attackers are seeding compromised AI tools to corrupt code written in future sessions, a threat model that has no established industry defense [11].
- 8.The JPMorgan-Coinbase public clash over the CLARITY Act's yield provisions reveals that the fundamental unresolved question in U.S. crypto regulation is whether stablecoin issuers are payments companies or deposit-taking banks — a distinction with trillion-dollar implications for both the banking sector's competitive position and the viability of yield-bearing stablecoin products as a mass-market savings instrument [15].
- 9.Standard Chartered's maintained $2 trillion RWA forecast despite the $292 million KelpDAO exploit and Anthropic's AI security escalation signals that institutional confidence in long-term tokenization trends has decoupled from near-term DeFi security volatility, suggesting tokenization adoption will continue regardless of DeFi exploit frequency as long as regulated infrastructure like Paxos and Computershare provides an alternative on-ramp [13].
- 10.Polygon's Open Money Stack processing $54 billion in stablecoin volume across 159 million wallets, combined with Stripe's stablecoin integration across $2 trillion in annual payments and DoorDash's stablecoin-powered global payouts, indicates that stablecoin payment infrastructure has reached a scale where consumer-facing commerce integrations are becoming self-reinforcing — each new entrant increases the utility of the underlying rails for all participants [18].
信頼度サマリー
今週追跡された 23 件のソース15 件の監視対象 URL から、期間中に新着・更新が検出された記事数。
各ソースは信頼度レベルに応じて重み付けされています。単独ソースの主張は AI 合成時に未検証としてフラグ付けされます。
ソース
Reports total DeFi TVL at $80.472 billion, down from $81.695 billion in the prior period, with Lido at $17.945 billion and Aave at $13.916 billion; DEX 24h volume at $4.001 billion and perpetuals 7-day volume at $129.592 billion.
関連: DeFi MarketsTotal stablecoin market cap at $320.141 billion with USDT dominance at 58.77%; World Liberty Financial's USD1 stablecoin reached a $4.743 billion market cap.
関連: Stablecoin MarketTotal RWA active market cap at $26.616 billion across 160 active asset issuers, with Ondo Finance at $3.88 billion and Securitize at $4.35 billion among the leading platforms.
関連: Real World AssetsDune Analytics research finds tokenized RWAs surpassed $27.5 billion total but only $1.7 billion is actively used in DeFi, describing the market as bifurcated into a reserve layer and a composable yield layer.
関連: Institutional Adoption & TokenizationCertiK CEO Ronghui Gu reports April 2026 was the worst month for DeFi exploits in four years with hacks on 27 of 30 days; attackers spend $10,000–$20,000 in compute tokens for continuous AI-driven vulnerability scans, creating a structural asymmetry.
関連: DeFi SecurityDeFi United coalition raised approximately $160 million of the $200 million needed; Mantle and Aave DAO contributed a combined 55,000 ETH or $127 million to cover bad debt from the KelpDAO exploit.
関連: Security & ExploitsDeFi United released a step-by-step technical proposal to restore rsETH backing and unwind bad loans, estimating approximately 13,000 ETH could be freed from Aave alone.
関連: Security & ExploitsPaxos received full SEC registration as a central securities depository on May 29, 2026, becoming the first blockchain firm authorized to clear and settle U.S. equities, enabling same-day or near-instant settlement.
関連: Institutional Adoption & TokenizationSecuritize and Computershare announce partnership for Issuer-Sponsored Tokens alongside traditional shares; Computershare is transfer agent for about 58% of the S&P 500.
関連: Institutional Adoption & TokenizationAave USDC APY at approximately 2.61% falls below Interactive Brokers' 3.14%; Ethena sUSDe compressed from 40%+ to ~3.5% with TVL falling from ~$11 billion to $3.6 billion; Sky USDS Savings at 3.75% with $6.5 billion in deposits, ~70% of Sky income from offchain sources.
関連: DeFi MarketsTrapDoor campaign planted over 34 malicious packages across npm, PyPI, and Crates.io targeting Solana, Sui, and Aptos wallet developers to steal wallet files, SSH keys, GitHub tokens, and cloud credentials; attackers also abused AI configuration files to hijack future AI coding sessions.
関連: DeFi SecurityAnthropic's Mythos AI model shifts DeFi security focus from smart contract bugs to deeper infrastructure risks including key management, bridges, and oracle networks; DeFi leaders warn AI will widen the gap between security-focused and security-negligent protocols.
関連: DeFi SecurityStandard Chartered maintains $2 trillion tokenized RWA forecast by end-2028 up from $35 billion in October 2025 despite KelpDAO exploit; notes Aave deposits fell roughly 38% and active loans by 31% during the crisis.
関連: DeFi & TokenizationGrayscale describes Hyperliquid as generating roughly $800 million in revenue in 2025 with $2.9 trillion in perpetual futures volume and $7 billion in open interest; FalconX notes it is beginning to compete with CME Group and Kalshi.
関連: DeFi & DerivativesCFTC issued landmark approvals for crypto perpetual futures contracts at Kalshi and Coinbase; JPMorgan CEO Jamie Dimon warned CLARITY Act framework could fail over stablecoin yield provisions; U.S. platforms handle 1.6% of global crypto derivatives volume.
関連: Regulation & PolicyOver 100 crypto firms including Coinbase, Circle, Kraken, Ripple, and Andreessen Horowitz urge Senate Banking Committee to mark up the Clarity Act, warning absence of U.S. legislation risks pushing investment and jobs offshore.
関連: Regulation & PolicyApex Group committed to $100 billion in tokenized assets on T-REX Ledger by June 2027 using Polygon CDK and ERC-3643 standard; $32 billion already tokenized under this standard across 140+ institutions including DTCC, Deloitte, and ABN AMRO. Company announcement — may reflect promotional framing.
関連: Institutional Adoption & TokenizationStripe, processing nearly $2 trillion in annual payments, is integrating stablecoins and blockchain across its core payment stack, targeting emerging markets where cards fail; head of crypto GTM says company is putting more of its stack onchain product by product.
関連: Payments & StablecoinsCoin Center published 'Software is Speech: Why Regulators Cannot Invent the Missing Middlemen,' arguing against regulatory frameworks that assume intermediaries must exist in crypto transactions.
関連: Regulatory AdvocacySEC Crypto Task Force continued work on providing clarity on federal securities laws applied to crypto asset markets; SEC separately proposed rescission of climate-related disclosure rules.
関連: Regulation & PolicyFSB 2025 Annual Report highlighted crypto-assets and stablecoins as a key area of work amid rising global financial stability vulnerabilities, alongside operational resilience and cross-border payments.
関連: Regulatory & Systemic RiskOver 100 core contributors at the Soldøgn Interop in Svalbard delivered alignment on a post-Glamsterdam gas limit floor of 200 million, stable ePBS implementations, and final EIP-8037 repricing numbers.
関連: Protocol DevelopmentDune Analytics unified Kalshi and Polymarket prediction market data with hourly candlestick price data, per-fill trades, position-level data, and four years of resolved history, providing new macro and equity signal sources.
関連: Data & Analytics