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In brief Syndicate Labs, a crypto infrastructure project, said it is winding down after five years. The closure follows shutdowns across NFT, DeFi, and wallet projects this year, alongside cuts across the broader tech sector. Consolidation has pushed users and liquidity to larger networks, Decrypt was told. Syndicate Labs, a crypto infrastructure project that helped developers build on-chain communities, investment clubs, and rollup-based apps, said it is winding down after five years as the market shifted away from its core business.The rollup infrastructure business no longer fit a market increasingly split between broad platform providers and bespoke chain development, according…

SpaceX filed its long-awaited S-1 with the Securities and Exchange Commission Wednesday — and it is bringing a substantial Bitcoin position into the public markets. The Elon Musk-led aerospace company holds 18,712 BTC, valued at approximately $1.45 billion, according to the S-1. The coins were purchased at a cost basis of $661 million, or roughly $35,000 per coin — a price Bitcoin last touched in late 2023.  That stake makes SpaceX the seventh-largest known corporate Bitcoin holder in the world, ahead of Coinbase. SpaceX is targeting a Nasdaq listing under the ticker SPCX . The company has been valued in…

Foundation has raised $6.4 million in a funding round led by Fulgur Ventures as it launches Passport Prime, a new hardware device designed to secure digital actions in an era of AI-driven automation. The Boston-based company said the round included participation from Arche Capital and brings its total funding to $16.5 million, according to a note shared with Bitcoin Magazine.  The capital will support expansion beyond Bitcoin self-custody into identity management, multi-factor authentication, and authorization systems for AI agents. Passport Prime, which began shipping to pre-order customers in March 2026, is now available for general purchase. Foundation describes the product…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Evernorth Chief Business Officer Sagar Shah has pushed back on the idea that Ripple’s dollar-backed stablecoin RLUSD could replace XRP, arguing that the two assets are designed for different roles in on-chain finance. In a May 20 blog post, Shah said RLUSD can serve as a high-quality digital dollar, while XRP remains the neutral routing asset for cross-asset settlement, liquidity and collateral on the XRP Ledger. The argument addresses a recurring question in the XRP community and among market observers: if RLUSD can move dollars on-chain and…

In brief Inflows to Hyperliquid ETFs hit $25.5M Wednesday, higher than the first five days of inflows combined. ETF demand follows HYPE’s stellar performance, which has led to more than a 100% rally this year. Bitwise shows strong support for Hyperliquid, committing 10% of ETF fees into the HYPE balance sheet. Hyperliquid’s sustained uptrend continued into Thursday, as the decentralized exchange’s token surged to an intraday high of $58.97.HYPE is currently trading at $57.20, up 15.3% on the day according to CoinGecko data. Its explosive gains outpaced those of Zcash (12%) and Worldcoin (7%), and comes amid renewed institutional interest.The newly…

SpaceX’s official IPO filing revealed a Bitcoin position worth $1.45 billion on Wednesday, highlighting tech CEO Elon Musk’s quiet commitment to the digital asset.The company, which added Bitcoin to its balance sheet in 2021, held 18,712 Bitcoin as of Dec. 31, purchased for $661 million, according to the much-anticipated SEC filing. The position was unchanged from the firm’s balance at the end of 2024.The filing notes that the stash, which places the firm among the top 10 largest corporate holders of Bitcoin, continues to be held with third-party custodians. When Musk populated the company’s balance sheet during the pandemic-era crypto…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A new study by Glassnode is putting fresh focus on a security risk for the wider Bitcoin (BTC) ecosystem—one that relates not to today’s cryptography, but to what could happen if quantum computers become powerful enough to run the right algorithms.  According to the research, 6.04 million Bitcoin, or 30.2% of the issued supply, is exposed under an “at-rest” model that looks for whether public-key material is already visible on-chain. The remaining 13.99 million BTC, representing 69.8% of the supply, is described as showing no public-key exposure…

In brief Shai-Hulud malware has been linked to roughly 300 npm and PyPI package entries. OpenAI, Microsoft, and Mistral AI disclosed recent Shai-Hulud-related incidents. The malware abused GitHub Actions and trusted software publishing workflows. A malware campaign known as “Shai-Hulud” is spreading through the software pipelines developers use to build and distribute code, raising new concerns about how much of the modern internet now depends on automated systems operating with little direct human oversight.Researchers linked the Shai-Hulud malware campaign to roughly 320 package entries across Node Package Manager (NPM) and PyPI, two of the largest online repositories developers use to…

In brief Bitcoin firm Nakamoto is instituting a 1-for-40 reverse stock split. The move is intended to help it achieve a share price of $1 as NAKA has fallen to all-time lows. As it stands, shares in the firm sit more than 99.5% off their 52-week high. Publicly traded Bitcoin treasury firm Nakamoto (NAKA) announced it will implement a 1-for-40 reverse stock split, following shareholder approval, as it seeks to maintain compliance with Nasdaq listing rules. The move is aimed at pushing the firm’s share price back to at least $1.00 in order to meet the minimum bid price requirement. Last week,…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure South Carolina is now one of more than a dozen US states that have passed laws protecting cryptocurrency rights — and it did so with almost no pushback. Governor Henry McMaster signed Senate Bill 163 on May 19, adding it to a growing stack of state-level digital asset laws that have quietly moved through Republican-controlled legislatures across the country. A Near-Unanimous Vote That Signals Shifting Ground The bill cleared the South Carolina Senate 38-1, a margin that says more than the law itself. Filed in January 2025,…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure South Carolina is now one of more than a dozen US states that have passed laws protecting cryptocurrency rights — and it did so with almost no pushback. Governor Henry McMaster signed Senate Bill 163 on May 19, adding it to a growing stack of state-level digital asset laws that have quietly moved through Republican-controlled legislatures across the country. A Near-Unanimous Vote That Signals Shifting Ground The bill cleared the South Carolina Senate 38-1, a margin that says more than the law itself. Filed in January 2025,…

In brief Shai-Hulud malware has been linked to roughly 300 npm and PyPI package entries. OpenAI, Microsoft, and Mistral AI disclosed recent Shai-Hulud-related incidents. The malware abused GitHub Actions and trusted software publishing workflows. A malware campaign known as “Shai-Hulud” is spreading through the software pipelines developers use to build and distribute code, raising new concerns about how much of the modern internet now depends on automated systems operating with little direct human oversight.Researchers linked the Shai-Hulud malware campaign to roughly 320 package entries across Node Package Manager (NPM) and PyPI, two of the largest online repositories developers use to…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US Treasury announced on Wednesday a fresh round of sanctions targeting the Sinaloa Cartel, citing growing evidence that elements of the organization are using crypto to support fentanyl trafficking and launder drug proceeds.  Crypto To Move Fentanyl Proceeds Treasury noted that the Sinaloa Cartel is among the oldest and most powerful drug trafficking groups in Mexico. The United States has identified the organization as a significant foreign narcotics trafficker since April 15, 2009.  According to the agency, the cartel’s operations include illicit fentanyl sales, which generate…

In brief SpaceX publicly disclosed its IPO filing ahead of a planned Nasdaq debut under the ticker SPCX. Elon Musk will retain majority voting control through a dual-class share structure. The filing shows SpaceX absorbing X and xAI while spending billions on AI infrastructure and Starship development. SpaceX’s long-awaited IPO filing was released on Wednesday, giving investors their clearest look yet at Elon Musk’s effort to turn the company into a combined space launch, satellite internet, and AI infrastructure business.The prospectus does not include a public IPO share price or total offering size, though it assigns a fixed $42.40 per-share…

In brief Qwen 3.7 Max debuted on Arena AI on May 14, 2026 —five days before the Alibaba Cloud Summit. The model ranks #13 globally in text and making Alibaba the sixth-ranked AI lab worldwide. The Plus variant will be open source; the Max flagship will not—continuing Alibaba’s shift toward monetizing its best models while giving developers access to the tier below. Alibaba is shooting out AI models like crazy, and they’re now much more powerful than ever with the Qwen 3.7 family out for testing. This week, two new models quietly appeared on Arena AI’s leaderboard: Qwen 3.7 Max-Preview…