The morning paper Michael Saylor says it's bonds, not bitcoin, bought this week; StablR was attacked for approximately $2.8 million; and the United States Congress pushed the bitcoin reserve bill
Photo by ChainCatcher
Important information:
- THE FORMER FIRM AGREED TO PAY $66 MILLION TO REACH A SETTLEMENT ON ALLEGATIONS OF FRAUD
- StablR lost anchor after the attack, and the attackers earned about $2.8 million
- THE ETHERWOOD FOUNDATION HAS BEEN CRITICIZED, AND THE RESEARCHERS HAVE BACKED UP THEIR MISSION TO BUILD AGREEMENTS, NOT TO PULL ETH
- MULTIPLE CFTC OFFICIALS CHALLENGING MARKET REGULATION WERE SUSPENDED AND FORCED TO LEAVE
- The U.S. Congress is pushing the Bitcoin Reserve Act
- Michael Saylor: Bonds are bought this week, not bitcoin
What's important about the past 24 hours
The U.S. Congress is pushing the Bitcoin Reserve Act
ChainCatcher reports that Republican Congressmen in the United States are accelerating the new version of ARMA Act in the hope of completing its signing while Republicans remain in control of both houses of Congress. The bill calls for the United States to establish a national reserve of bitcoin and plans to hold approximately 5 per cent of the global supply of bitcoin on a permanent basis。
ACCORDING TO MARKET NEWS, WITHIN THE REPUBLICAN PARTY, ATTEMPTS ARE BEING MADE TO RAISE THE BITCOIN STRATEGIC RESERVE TO THE LEVEL OF NATIONAL FINANCE AND GEO-COMPETITIVENESS, ARGUING THAT THE UNITED STATES SHOULD DOMINATE THE GLOBAL DIGITAL ASSET SYSTEM. IF THE BILL IS FINALLY PASSED, THE UNITED STATES GOVERNMENT MAY BECOME ONE OF THE WORLD'S LARGEST BITCOIN HOLDERS, FURTHER STRENGTHENING THE BTC “DIGITAL GOLD” AND SOVEREIGN RESERVE ASSET NARRATIVES。
ChainCatcher, Michael Saylor wrote, "We bought bonds this week, not bitcoin. ₿itVac is charging."
ChainCatcher, according to CoinDesk, researchers in the field of back-up quantum cryptography and block chain security say AI is accelerating the quantum computation process and forcing the encryption industry to revisit the reliability of the existing security system。
Project Eleven CEO Alex Pruden notes that researchers have been using machines to learn to optimize quantum error -- This is one of the biggest engineering bottlenecks in quantum computing. The NEAR Protocol co-founder and former Google AI Fellow, Illia Polosukhin, warned that the strategy of "harvesting now, decrypting the future" posed a real threat, namely, that the attackers would collect encrypted traffic right now, and declassify the quantum computer once it matures, "which is likely to happen."。
Since most block-chain networks rely on the same elliptical curve cipher as the Internet, once a quantum computer is strong enough, it is theoretically possible to extract a private key from the public key and break through the wallet and system. The researchers note that the combination of AI and quantum calculations is creating an ongoing security arms race, and that security protection will no longer be static infrastructure but must continue to evolve and escalate. At present, several block chain ecologys, such as the Taifung, Solana and NEAR, are actively promoting a post-quan code migration programme。
THE FORMER FIRM AGREED TO PAY $66 MILLION TO REACH A SETTLEMENT ON ALLEGATIONS OF FRAUD
ChainCatcher, reported by The Block, that the former leading external firm of FTX, Fenwick & West had agreed to pay $54 million to settle claims for assistance in facilitating the fraud of Sam Bankman-Fried. In addition, the auditing body, Prager Metis, agreed to pay $117.5 million, while Udonis Haslem, a former Miami fireball player, will pay $420,000 as a former FTX promoter, three totalling approximately $66 million。
The settlement was the conclusion of the second round of the FTX class action, which was submitted to the Miami Federal Court on Friday. Fenwick denied the existence of misconduct and stated that it had no knowledge of the fraud committed by FTX. It is noteworthy that the firm still faces another $525 million civil action in Washington, D.C., which is not covered by this settlement。
In November 2022, when FTX collapsed, Bankman-Fried was sentenced to 25 years' imprisonment for stealing about $8 billion in customer funds and is currently on appeal. The insolvency estate has returned over $5 billion to creditors。
ZachXBT: StablR-related contract suspected of being attacked, lost or over $3 million
ChainCatcher, "System Detective" ZachXBT revealed on his personal channel that two contracts related to the issuer StablR were suspected of being attacked, with potential losses exceeding US$ 3 million (EURR and USDR), and that the attackers were financed through the CCTP platform on Noble. In addition, ZachXBT published the addresses of seven attackers currently associated with this security incident。
StablR lost anchor after the attack, and the attackers earned about $2.8 million
ChainCatcher reports that StablR, the issuer of the stabilization currency, has been subjected to continuing attacks, resulting in the de-construction of the euro-stabilized currency EURR and the United States dollar-stabilized currency USDR. Block Chain Security Blockaid indicated that the attackers suspected that they would replace other administrators under a mechanism requiring only one third of signatures by obtaining control of the private key of one of the owners of the multiple sign-off accounts with an additional 8.35 million USD and 4.5 million EUR。
Subsequently, on DEX, the attackers converted approximately US$ 10.4 million worth of currency into approximately 1,115 ETHs, resulting in actual gains of approximately US$ 2.8 million. As a result of the incident, EURR fell to the vicinity of $0.88 and USDR to the vicinity of $0.7. Blockaid noted that the incident was not due to an intelligent contractual gap, but to the failure of key management and governance mechanisms。
ChainCatcher, Bankr Developer @0xDeployer wrote that plans are under way to launch the Bankr Fund to invest real money in top Bankr ecosystem projects. It is hoped that the first investment will take place in the coming weeks。
Recently, several eco-quality AI projects were launched through the Bankr platform. Projects such as LFI and GITLAWB quickly gained market recognition and had a market value of $20 million。
ChainCatcher, according to Bits Media, the Russian Government has expanded the range of information that miners and mining infrastructure operators must submit to tax authorities. According to the new regulations, the national register of miners and operators must contain data on the network address of equipment used for encrypted currency mining (ASIC mines). According to the Russian Ministry of Finance, the aim was to streamline the monitoring of transactions in digital assets and the investigation of irregularities. In addition, grid operators will be able to monitor more accurately infrastructure loads in areas with a high concentration of mining capacity。
According to the law, information in the register of miners is accessible to government agencies, courts, Russian banks and electricity grid operators. The Federal Tax Administration maintains registers of miners and operators of mining infrastructure. Under the current legislation, miners and infrastructure operators (e.g., mine ponds) are required to submit and regularly update information on the manufacturers, models, serial numbers, algorithms, algorithms, power consumption and mode of operation of mining equipment. With regard to mining: number and type of encrypted currency extracted, mine ponds and online statistical links。
ChainCatcher reported that a national petition for the abolition of the tax on encrypted currency was on the agenda of the National Assembly. The “Virtual Asset Tax Elimination Petition” published on the Parliamentary Electronic Petition platform received over 50,000 people's support in just eight days and met the conditions for submission to the Standing Committee for consideration。
The petition will be referred to the Financial and Economic Commission, which oversees the Ministry of Economy and Finance and the Office of Taxes, for review, and thereafter for decision to be taken in plenary. According to the petitioners, “since the tax on financial investment returns on shares has been abolished and tax relief has been implemented, it would be unreasonable to impose a separate tax on virtual currency only” and added that “the current system requires a comprehensive review, not just a simple supplement”
ChainCatcher, according to Cointelegraph, has recently been criticized by the community for selling ETH, releasing the pledge and having less open communication. But William Mougayar, a region-chain researcher and investor, defended it by stating that there were three different aspects to the long-standing misunderstanding of the location of the Foundation, ETH, Ether Workshop Network and the Ether Workshop Foundation: ETH is an asset, Ether Workshop is a shared computing infrastructure, and the Foundation is a non-profit organization responsible for promoting the development of agreements, one of its objectives being to “get the founders out of importance”. The ETA Foundation is currently on a “mitigation route” to strengthen the network by promoting the upgrading of agreements, financing bottom studies and reducing its own central impact。
ChainCatcher, according to Cointelegraph, the New York Times Sunday investigation revealed that senior officials of the CTC who had raised concerns about the regulation of Polymarket, Cripto.com and Gemini affiliates were suspended, investigated internally and forced to leave their posts. All three of these companies are alleged to have commercial connections with the Tromp family。
It has been reported that Caroline Pham, then Acting President of the CTC, and his senior adviser intervened to assist the company in obtaining the required approval. At the end of 2025, five officials challenging or enforcing encryption regulations were included in administrative leave and internal investigations and were not informed of the specific reasons. After his departure, Pham joined the encryption company MoonPay, a cooperative with Polymarket, whose senior adviser, Brigitte Weyls, worked as Gemini Titan's general legal adviser, whose application was approved with her participation。
AT THE LAW ENFORCEMENT LEVEL, THE CFTC HAS WITHDRAWN AT LEAST 5 ENCRYPTED INVESTIGATIONS, AND THE NUMBER OF ENFORCEMENT ACTIONS DROPPED SHARPLY FROM MORE THAN 80 IN THE BIDEN PERIOD TO ONLY 2 IN THE TRUMP TERM. IN RESPONSE, THE WHITE HOUSE SPOKESMAN DENIED THAT THERE WAS A CONFLICT OF INTEREST, STATING THAT "PRESIDENT TRUMP WOULD ONLY ACT IN THE BEST INTERESTS OF THE AMERICAN PUBLIC"。
ChainCatcher, Keyrock's latest report indicates that the encrypted currency track (crypto rails) is gradually becoming the default payment layer for AI Agent. Over the past year, AI Agent has completed more than 176 million transactions through block chains and settled more than $73 million。
As AI Agent begins to buy data, cloud computing, API services and AI reasoning resources, it is difficult to adapt the traditional banking card payment system to the high frequency (HF)/super small payment scenario. Currently about 76% of Agent's payments are less than 30 cents, while part of the chain's stable currency transfer costs are only a fraction of a cent. Coinbase, Stripe, Google and Visa have all started to set up inter-machine payment infrastructure. Of these, Coinbase's X402 protocol allows AI Agent to use USDC directly to pay for chain analysis and cloud service。
The data show that 98.6% of the current AI Agent payments are settled through USDC. According to the report, this further reinforces the important position of Circe in the area of encrypted payments, but it also means that industry's reliance on single stable currency issuers is increasing。
Meme Hot List
According to Meme Currency Tracking and Analysis PlatformGMGNBy the end of May 25th, 0900
Former 24h ETH top five in the order of HEX, SHIB, LINK, PEPE, mUSD
In the past 24h Solana top five hot coins were: TROLL, Net, WORLDUP, HANTA, Buttcoin
The top five of the 24h Base coins were: TOSHI, KEYCAT, BRETT, CLANKER, LUNA
What are the good articles worth reading in the past 24 hours
a16z:7 a picture of how monetization changes the nature of an asset
Tokenize assets, known by many as “real world assets” (RWA), are changing the shape of assets, the way they flow, and the way financial systems are constructed。
Just last month, the size of the monetized asset market was over $30 billion, which is now stable near about $34 billion (excluding the Stabilized Currency), a size roughly equivalent to a regional bank or the top university endowment fund, although still small compared to the global financial system, but sufficient for real impact。
YOU KNOW, TWO YEARS AGO, THE MARKET FOR MONETIZED ASSETS WAS LESS THAN $3 BILLION, BUT THEN THE MARKET CHANGED DRAMATICALLY: THE US GENIUS ACT BROUGHT A CLEARER FRAMEWORK FOR STABLE CURRENCY REGULATION, INSTITUTIONAL CHAIN INFRASTRUCTURE MATURED, AND A LARGE NUMBER OF FINANCIAL INSTITUTIONS BEGAN TO DEPLOY BLOCK-LINK TECHNOLOGY ALMOST IN THE SAME PERIOD – A FACTOR THAT LED TO A 10-FOLD INCREASE IN THE MONETIZED ASSET MARKET IN LESS THAN TWO YEARS。
Dismantling Hyperliquid from five layers of financial stacking
Institutional financial infrastructure is often well established. You can't start with the most productive products and then push backwards。
You have to start at the liquidation level and prove that it works under pressure and then unlock all the functions that depend on it。
The New York Stock Exchange did not add derivatives before having a well-functioning stock market. The Chicago Commodity Exchange also did not introduce options before launching futures。
This order is by no means arbitrary. The order of the grass-roots level determines the possibility of top-level buildings。
Hyperliquid knows this well。
