The Senate approved Warsh in a 51-45 vote that fell along party lines, with Sen. John Fetterman joining Republicans in support of the nominee. If confirmed as chair, Warsh would replace Jerome Powell, whose term leading the central bank ends Friday. Warsh's rise has drawn attention across financial markets and the Bitcoin industry because of his public support for bitcoin and his ties to crypto-related firms.
Gelephu Mindfulness City launched an accelerated licensing pathway on May 12, 2026, targeting firms already regulated in Singapore, ADGM, or Hong Kong. DK Bank guarantees corporate accounts for all GMC-licensed companies, supporting 9 currencies and BTC-backed lending from day one. GMC offers 0% corporate tax for qualifying firms and foreign talent tax exemptions through 2030, positioning the SAR as a regional financial hub.
The TRUMP meme team wallet moved $17.22M in tokens to Bitgo custody on May 11. This is the third major Bitgo transfer; prior moves of $31.45M and $23.18M preceded price drops. TRUMP has fallen roughly 96% from its 2025 peak, yet team allocation wallets remain active.
Galaxy Digital and Sharplink formed a $125M fund, moving DeFi to institutional treasuries. Holding 870K ETH, Sharplink proves large firms can safely access onchain market yields. Next, Galaxy will manage the $125M pool to generate risk-managed ETH returns for investors. Decentralized finance has shifted from a retail-based, low liquidity niche sector to an industry that can be leveraged by institutional investors to diversify their treasury management.
Zcash (ZEC) retreated to $550 on May 11 after a surge, maintaining its spot as the top privacy coin. Despite a 7% daily dip, ZEC is up 33% over 7 days following a $25M funding boost from firms like a16z. Proponents eye a parabolic rally for ZEC in 2026, though critics warn about shielded pool liquidity.
The value of virtual assets held by domestic investors in South Korea has plummeted by more than $41 billion (60 trillion won) over the last year, as a cooling crypto market prompted a mass migration of capital toward traditional equities. According to Bank of Korea data reportedly submitted May 10 to Rep. Cha Kyu-keun of the Rebuilding Korea Party, the total valuation of domestic virtual assets stood at approximately $41.17 billion as of the end of February. The decline marks a staggering reversal from the market's peak in January 2024, when holdings reached $82.76 billion.
“This is the best product in the history of the world but distribution is broken,” says Ferdinand Dabitz, holding up a $100 bill. Even though U.S. dollars are the world's favorite currency, says Dabitz, many people seeking to get them must rely on an antiquated system of banks with limited hours staffed by clerks. The 25-year-old Dabitz is the CEO of a new type of bank called Augustus that he says addresses this deficiency thanks to a payments architecture designed around AI and stablecoins, not humans.
The German police last week announced the shutdown of the second iteration of the Crimenetwork crime marketplace. Crimenetwork was taken down in December 2024, after more than 12 years of operation, and a suspected administrator was arrested. Days later, the German-speaking online marketplace was resurrected on newly built infrastructure, and has since grown to have over 22,000 users and more than 100 sellers. The majority of the marketplace's users are likely German speakers, the police said.
