Xai, Built on Arbitrum, Launches XAI Token and Partners With Laguna Games to Bring Games to the Network

FTX, under bankruptcy, will start repaying creditors by the end of May, with $11.4 billion in cash to distribute. Major creditors will receive payments first on May 30, while smaller ones with claims under $50,000 have already begun receiving distributions.

Hailey Welch, also known as the "Hawk Tuah" girl, said she no longer worries about the SEC's investigation into her meme coin after the agency purportedly dropped the probe. The meme coin HAWK, launched on Solana, saw a rapid rise and fall, reaching a market cap of $490 million before plummeting 93%.

A settlement between the New York Attorney General and Galaxy Digital requires the firm to pay $200 million for alleged violations related to the collapsed Terra LUNA cryptocurrency. Galaxy's conduct, including misrepresentations and omissions about LUNA, led to violations of the Martin Act and New York Executive Law.

GameStop hinted at buying Bitcoin but instead raised $1.3 billion in a convertible note offering, disappointing investors. Bitcoin transaction fees are shrinking, posing challenges for miners. Robinhood faces backlash from New Jersey for its sports prediction markets.

President Trump pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed for Bank Secrecy Act violations, according to a report from CNBC. The founders had pled guilty in 2022 and each agreed to pay a $10 million fine.

Avraham “Avi” Eisenberg and his legal team are requesting leniency in a sentencing memorandum for charges related to child pornography and cryptocurrency market manipulation. Eisenberg manipulated Mango Markets DAO and had child pornography on his phone. He claims to have no intention of breaking laws in the future.

Bitcoin and other major cryptocurrencies are experiencing losses, with Ethereum down 6% and XRP falling about 7% on Friday. Solana and Dogecoin are also in the red, down 6% and 4.5% respectively. Crypto liquidations have surged over $450 million in the past day.

Pedro Giocondo Guerra, representing Brazil's government, emphasized the importance of establishing a sovereign Bitcoin reserve for the country's prosperity. The proposed legislation aims to diversify financial assets, protect reserves, promote blockchain adoption, and support Brazil's CBDC.

Gunzilla Games, developer of Off the Grid, acquired Game Informer after it was shut down by GameStop. The move was framed by Gunzilla as being key to its long-term plans and aligns with its vision of a Web3 AAA gaming ecosystem. The editorial team says it has no plans to change its coverage focus, nor does it currently intend to use blockchain.

Dominari Holdings, linked to Donald Trump's sons, Eric and Donald Jr., is investing in a spot bitcoin ETF, opting for a unique approach to holding bitcoin as a corporate reserve. The firm has allocated $2 million to BlackRock's iShares Bitcoin Trust, a move that sets it apart from traditional bitcoin reserve strategies.