Among altcoins, XRP saw strong inflows, SOL saw biggest rebound interest, but Sui's demand plunged by 20x.
TreasureDAO will shut down its ZKsync-based Treasure Chain on May 30, nearly five months after announcing urgent cost-cutting measures and securing temporary emergency powers. TreasureDAO is pulling the plug on Treasure Chain, its own network built on ZKsync’s layer-2 scaling solution, by May 30 after TIP-52 passed, giving the core team emergency powers to handle the shutdown without stopping for more votes. Treasure Chain Wind-Down⛓️🌇 Following the successful ratification of TIP-52, the Treasure Chain will shut down on May 30, 2025. Holders must bridge out all ETH, MAGIC, SMOL, and NFT holdings by the end of May. Additional updates, timelines, and next steps are outlined below👇 — Treasure (@Treasure_DAO) May 6, 2025 In an X thread on May 6, the TreasureDAO team urged users to bridge out all their assets as well as non-fungible tokens by the end of May. The wind-down is part of a broader pivot to reduce costs and focus on product development. “Bridging to Treasure Chain has been discontinued,” the team said, noting that “MAGIC-ETH has been migrated to L1 Ethereum and is now tradable on Uniswap,” while “SMOL-MAGIC liquidity migration to L1 is underway.” Despite shutting down the chain, the team reassured it’s in a strong position to continue its operations as its USDC runway “extended through Fall 2026.” “Treasure is in a strong position, with our USDC runway extended through Fall 2026 — excluding a recovering MAGIC treasury. The Treasure Chain wind-down will accelerate our product development and reduce operational costs, positioning us for the next stage of growth.” TreasureDAO Even with the mainnet shutting down, the team framed the decision not as giving up, but as “a positive move for the org.” The team also added that “retiring the chain is presented as a necessity, not a choice.” You might also like: ZKSync recovers funds stolen in $5M exploit after hacker claims bounty Still, the shutdown comes with hard financial truths. In internal updates, co-founder John Patten pointed out the DAO’s burn rate had become unsustainable, with its runway potentially drying up by late 2025. Keeping Treasure Chain running cost about $450,000 a year — money the treasury could no longer justify, especially with ZKsync grants unlocking slowly over time. To ease the transition, the proposal lets the team manage around 3.18 million MAGIC and 138 ETH in DAO-owned liquidity. As TreasureDAO put it, the shutdown is an “emergency measure reflecting the current extraordinary circumstances, not a permanent change to DAO governance principles.” Treasure was among early builders on Arbitrum before launching its own chain on ZKsync. At its peak, it even accounted for more than 95% of all gaming and NFT transactions on Arbitrum and has generated over $260 million in marketplace volume since launch, according to data from Nansen. Read more: Arbitrum’s $ARB incentives failed to retain users, says Pink Brains
Riot Platforms sold 475 BTC in April, marking the largest single-month BTC liquidation in the company’s history. Riot Platforms, the second largest publicly traded Bitcoin mining firm by market cap, announced Monday that it had sold 475 BTC in April at an average price of $81,731, generating $38.8 million in net proceeds. The sale, disclosed in Riot’s monthly production and operations update, marks the largest single-month Bitcoin ( BTC ) liquidation in the company’s history. Of the 475 BTC sold in April, 463 were newly mined in April, with the remaining 12 drawn from Riot’s reserves. “During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources considering a multitude of factors and prioritizing a strong balance sheet. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock.” said Riot CEO Jason Les. ” Despite the sale, Riot maintained a sizable Bitcoin reserve, holding 19,211 BTC as of April 30, including 1,900 restricted coins. That represents a 117% year-over-year increase in holdings. You might also like: Riot Platforms Pierre Rochard explains why there won’t be “a better Bitcoin” This tactical move to sell BTC comes as Riot Platforms faced two consecutive months of challenging mining conditions, driven by successive network difficulty increases. The rising mining difficulty made it harder and more energy-intensive to mine BTC, contributing to a 13% drop in production from March. While production dipped 13% from March, it still represented a 23% increase from the same month last year. The company maintains a deployed hash rate of 33.7 EH/s and a fleet efficiency of 21.0 joules per terahash, among the most competitive in Bitcoin mining industry. Source: riotplatforms.com You might also like: Riot Platforms explores AI revenue diversification as Bitcoin network transactions hover at 12-months low
Uniswap has added support for Soneium, a new layer-2 blockchain built by Sony Block Solutions and Startale Labs. Uniswap Labs announced the update in a blog post on May 6. The network is now operational on the Uniswap ( UNI ) wallet and web app, enabling users to bridge, trade, and supply liquidity using well-known tools. With a focus on digital entertainment, Soneium’s mainnet debuted in January 2025. The network seeks to facilitate onchain connections between creators and fans while safeguarding intellectual property. So far, it has hosted NFTs for the popular anime Solo Leveling, distributed digital collectibles at concerts, and supported event ticketing for Japanese idol groups, among other things. Sony’s goal is to bring its creative ecosystem to the blockchain. Jun Watanabe, Chairman of Sony Block Solutions Labs, said the company aims to “build a world-class blockchain for creators, fans, and developers.” He added that Uniswap’s tools will help Soneium users interact more easily with web3. You might also like: Uniswap price could surge as Unichain flips Ethereum, Polygon, Sei in key metrics Startale chief executive officer Sota Watanabe said the partnership makes it easier for people to join the onchain economy, and that Uniswap gives Soneium a strong way to reach global users. “At Startale, we’re building blockchain infrastructure that empowers global innovation as part of Sony Block Solutions Labs — and Uniswap Labs’ reach and credibility give Soneium a strong distribution layer. By combining Uniswap Labs’ leading DEX infrastructure with the scalable Layer-2 network, we’re making it easier for users to participate in a seamless, creator-led economy.” — Sota Watanabe, CEO of Startale Group Uniswap Labs, on the other hand, noted that the move supports its mission of creating open, permissionless markets. When assets are locked into separate platforms, creators often struggle to get the most value from their work. With Uniswap’s infrastructure, they can share and earn across the entire ecosystem. The integration comes as Uniswap continues on its positive growth trajectory. Its own layer-2 chain, Unichain, has processed $5.7 billion in trades since its launch, as per DEX Analytics data . Uniswap has also launched liquidity rewards and recently crossed $3 trillion in total swap volume. In another important development, in February, the Securities and Exchange Commission ended its investigation into Uniswap with no enforcement, opening the door to deeper entry into the U.S. market. Read more: Uniswap, Coinbase, and NYSE execs to join SEC roundtable on crypto trading regulations
Memecoin discussions are resurging, raising interest in high-risk tokens. Social media interaction with memecoins has reached unprecedented levels. Continue Reading: Memecoin Craze Captivates Crypto Enthusiasts: Explosive Social Media Buzz The post Memecoin Craze Captivates Crypto Enthusiasts: Explosive Social Media Buzz appeared first on COINTURK NEWS .
Ripple has officially confirmed in its Q1 2025 XRP Markets Report that it has agreed with the U.S. Securities and Exchange Commission (SEC) to conclude the long-running legal battle that has been ongoing since December 2020. Shared via Ripple’s official X account , the report details the landmark resolution and highlights pivotal developments that further solidify XRP’s growing role in institutional finance and global crypto infrastructure. The start of 2025 saw major momentum for Ripple, XRP, and the broader crypto industry. The Q1 2025 XRP Markets Report is here: https://t.co/CWpeEQW6XT Highlights include: SEC and Ripple reached an agreement to end the lawsuit Hidden Road acquired for $1.25B to scale XRPL… — Ripple (@Ripple) May 5, 2025 SEC Lawsuit Concludes, Marking a Historic Turning Point One of the report’s most consequential revelations is the announcement of a finalized agreement with the SEC , signaling the formal end of a high-profile lawsuit that has, for years, cast uncertainty over XRP’s regulatory standing in the U.S. While specifics of the settlement have not been disclosed in full within the Q1 document, the confirmation alone represents a watershed moment—not just for Ripple, but for the entire crypto ecosystem. This resolution marks the beginning of a new chapter where XRP can finally compete on an even playing field in the U.S. market, free from the overhang of securities law ambiguity. The conclusion of this case may also serve as a legal blueprint for other crypto projects entangled in similar regulatory challenges. By opting for settlement, Ripple demonstrates its willingness to collaborate with regulators and clears the path for broader institutional participation in its ecosystem. Hidden Road Acquisition Bolsters XRPL and RLUSD Adoption Another standout development is Ripple’s $1.25 billion acquisition of Hidden Road, a prime brokerage firm with deep institutional connections. This strategic move underscores Ripple’s vision to scale both the XRP Ledger (XRPL) and its recently launched RLUSD stablecoin, which is designed for enterprise-grade settlements and tokenized real-world asset (RWA) issuance. Hidden Road’s infrastructure will enable Ripple to expand its institutional liquidity rails, improve capital efficiency, and deepen XRPL’s utility in real-time cross-border settlement. Moreover, this acquisition effectively brings Ripple into the ecosystem of Hidden Road’s notable partners, including legacy financial giants such as BlackRock, which uses Hidden Road as part of its BUIDL ecosystem for triparty collateral. By aligning itself with infrastructure trusted by Wall Street, Ripple is extending the XRPL’s reach and accelerating RLUSD’s institutional uptake. XRP Sees Rise in Institutional Demand Ripple’s Q1 report also details a significant rise in demand for XRP-based investment products, with institutional flows shifting markedly in XRP’s favor. As market confidence in the asset grows, especially following legal clarity, so does its appeal as a bridge asset for real-time value transfer. The renewed interest comes alongside rising volumes on derivatives platforms, greater activity in custody services, and increased uptake among financial institutions seeking alternatives to legacy settlement rails. As demand consolidates across North America, Europe, and Asia-Pacific, XRP is increasingly seen as a strategic asset for institutions building tokenized financial infrastructure. Ripple’s continued development of products that use XRP for liquidity provisioning, such as Liquidity Hub and Ripple Payments, further catalyzes adoption. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 U.S. Policy Shift Signals a New Regulatory Environment Beyond corporate milestones, the report notes a notable shift in the U.S. regulatory tone. With bipartisan support emerging for digital asset frameworks and clearer legislative signals from Congress and federal agencies, Ripple sees increasing opportunity for compliant innovation. The company highlighted how a more defined policy landscape allows it to engage more directly with U.S. institutions and regulators, paving the way for deeper domestic expansion. Ripple emphasized that while regulatory risk remains a challenge globally, the clarity achieved in the U.S., especially through the resolution with the SEC, serves as a strong foundation for XRP’s future. The company remains committed to working with lawmakers and public agencies to ensure responsible development and deployment of blockchain technologies. Transparency and Reporting to Evolve in Q2 2025 Finally, Ripple announced that its reporting model will evolve starting in Q2 2025. While the XRP Markets Report in its current form will be discontinued, Ripple affirmed its commitment to transparency, noting that future updates on XRP-related metrics, holdings, and ecosystem developments will continue through its official channels, including @Ripple and @RippleXDev. Public access to Ripple’s XRP holdings and escrow-related transactions will also remain available at ripple.com. This transition reflects Ripple and XRP’s maturing phase, signaling a shift from legal defense to proactive expansion, market development, and institutional onboarding. The Q1 2025 XRP Markets Report encapsulates a defining moment for Ripple and XRP. With the SEC lawsuit behind it, a major institutional acquisition completed, and momentum accelerating on multiple fronts, Ripple is now positioning XRP at the core of tomorrow’s financial plumbing. As legal clarity and strategic infrastructure converge, Ripple’s thesis for XRP as a global settlement asset may be closer to realization than ever before. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple Confirms Agreement to End XRP Case With SEC In Latest Report appeared first on Times Tabloid .
Bitcoin Core developers are set to enhance the protocol by removing the current limitation on transaction data in an upcoming network upgrade. This pivotal change, announced by developer Greg Sanders
Tether has transformed from an object of skepticism into a stable investment thanks to its partnership with Cantor Fitzgerald. With Cantor Fitzgerald managing Tether’s reserves, transparency concerns have significantly diminished.
KuCoin cryptocurrency exchange has denied claims that its BTC reserves have dropped since KYC rumors began on June 5, 2023, and the official announcement of the mandatory real-name system on June 28. According to CryptoQuant’s Onchain School data, the exchange’s Bitcoin reserves have plummeted by 77.6%. Although the overall fall in reserves of centralized exchanges is an industry trend, the sharp decline of KuCoin has attracted attention. The analytics firm argued that it highlighted that users are highly sensitive to privacy and compliance policies. KuCoin refutes claims of losing over 77% of its BTC reserves The data presented is factually incorrect and highly misleading. KuCoin maintains strong BTC reserves, and these figures do not reflect our actual holdings. We are deeply concerned by the publication of such unverified claims and urge @cryptoquant_com to act responsibly and… — KuCoin (@kucoincom) May 6, 2025 KuCoin, the world’s largest digital asset exchange, has seen a dramatic drop in its Bitcoin reserves since mid-2023 when it revealed Know Your Customer (KYC) requirements. Onchain School acknowledged that KuCoin has seen a significant 77.6% drop in its Bitcoin reserves since that period. The analytics company noted that the exchange’s BTC reserves declined from 18,300 BTC to just 4,100 BTC. The drop in reserves began after rumors of a KYC overhaul surfaced on June 5, 2023. “The data presented is factually incorrect and highly misleading. KuCoin maintains strong BTC reserves, and these figures do not reflect our actual holdings.” – KuCoin . The virtual asset exchange acknowledged that it was deeply concerned by the publication of “such unverified claims.” KuCoin also urged CryptoQuant to act responsibly and exercise greater diligence when sharing data that may impact market trust. According to the exchange’s official website, it has a BTC Reserve Ratio of 106% at the time of publication. The crypto exchange also recorded its user assets at roughly 9,751 BTC, while its wallet assets at 10,306 BTC. Onchain School shows a 77.6% decrease in KuCoin’s BTC reserves KuCoin loses over 77% of its BTC reserves following mandatory KYC announcement “On-chain data shows a drop from 18,300 BTC to just 4,100 BTC, marking a net outflow of 14,200 BTC — a 77.6% decrease.” – By @onchainschool pic.twitter.com/DCnjEHbTdv — CryptoQuant.com (@cryptoquant_com) May 5, 2025 CryptoQuant argued that the outflows increased following the exchange’s official announcement on June 28, confirming that all newly registered users would be required to complete KYC verification on July 15. Onchain School argued that the outflow totaling over 14,000 BTC correlates closely with the timeline of KuCoin’s announcement to tighten its KYC procedures. KuCoin’s case stands out for its speed and scale despite declining exchange reserves being a broader trend in the industry. Onchain School argued that the timing and magnitude of this outflow strongly correlated with the enforcement of KYC. The analytics company also added that the change highlights how users are affected by compliance-related changes, especially when privacy is perceived to be at risk. Source: CryptoQuant . KuCoin’s Bitcoin Exchange Reserve. KuCoin maintained that existing users must also complete KYC to access key services, including new deposits. The exchange’s users still retained limited access to features like withdrawals and redemptions on staking products. The exchange’s KYC upgrade was part of its efforts to align with global anti-money laundering (AML) practices. KuCoin cited anti-money laundering obligations and global compliance standards as reasons for the shift. Increased legal pressure in the U.S. was also the cause behind this policy change. In 2024, the U.S. The Attorney’s Office said that the exchange and its parent company, PEKEN GLOBAL LIMITED, had violated U.S. anti-money laundering and KYC regulations. U.S. Attorney Danielle R. Sasson alleged that KuCoin failed to register as a money service business with FinCEN and deliberately avoided implementing basic AML regulations. The indictment noted that the exchange allowed billions of dollars in suspicious transactions to pass through its platform. The indictment also alleged that the exchange had no meaningful KYC or AML program in place for years despite serving over 1.5 million U.S. customers and collecting more than $184 million in fees since 2017. The exchange stated that due to the restrictive environment of global regulation and anti-money laundering practices, “KuCoin is going to conduct mandatory KYC.” The exchange agreed to pay a $297 million fine as part of a settlement and exit the U.S. market for at least two years. The exchange noted that KYC for broker sub-accounts must be submitted through its API, as there is no web interface. KuCoin added that users are required to verify only once per account and that regular sub-accounts created under a master account remain unaffected by the KYC rule. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
COINOTAG News reported on May 6th that Ethereum developer @nero_eth has released a comprehensive analysis regarding the Delayed Execution phenomenon and its associated Free DA Issue. The Delayed Execution mechanism