Stablecoin Infrastructure Startup Conduit Raises $36 Million

Cantor Fitzgerald is introducing a new Bitcoin-focused fund with downside protection based on gold prices to address investor concerns about cryptocurrency volatility. The fund aims to offer uncapped Bitcoin upside while safeguarding against losses with physical gold security.

A new bill, the Digital Asset Market Clarity (CLARITY) Act, aims to shift regulatory oversight of most digital assets from the SEC to the CFTC in the United States. The bill introduces a classification for "mature blockchain systems" but does not mandate compliance for assets already defined as digital commodities.

Former BitMEX CEO Arthur Hayes predicts Ethereum could hit $5,000 by year-end, potentially setting a new all-time high. Recent momentum has seen ETH rise over 45% in the last month to $2,646, with analysts citing stablecoins and layer-2 networks as driving factors.

The Securities and Exchange Commission has filed to dismiss its lawsuit against Binance and its founder, as alleged violations include offering unregistered securities and commingling customer funds.

Paolo Ardoino discussed Tether's $13 billion profit, $120 billion in US treasuries, and commitment to reinvest in Bitcoin at the 2025 Bitcoin Conference. Tether aims to become the largest Bitcoin miner globally and introduced an AI system named QVAC for societal use.

GameStop's stock price fell over 5% to $29.57 per share after announcing a $500 million Bitcoin purchase, losing most of its weekly gains. Despite the decline, the Nasdaq and S&P 500 closed slightly up.

Rapper Soulja Boy will no longer perform at Stand With Crypto's event in Jersey City due to a recent court ruling finding him liable for sexual battery and assault. Despite this, 070 Shake is still scheduled to headline the event on June 5.

The iShares Bitcoin Trust (IBIT) ETF has attracted a record $6.22 billion in May, with consistent daily inflows except for one day. IBIT dominates spot Bitcoin ETFs and accounts for 90% of all spot Bitcoin ETF flows this month.

OpenSea has transitioned from its original NFT marketplace to OS2, offering full token trading across 19 blockchains, a new rewards system called “Voyages,” and real-time analytics. The platform's evolution includes a gamified XP system and hints at an upcoming token launch by the OpenSea Foundation.

KYC, or "know your customer," is a mandatory process for crypto exchanges to collect personal information. Recent incidents, like Solana's co-founder being doxxed and Coinbase's data breach, have raised concerns about KYC risks. Despite criticisms, KYC remains a necessary tool for preventing criminal activities in the crypto industry.