Solana Exchange Backpack Raises $17M Series A Led by Placeholder VC

The Movement token (MOVE) hit an all-time low after Coinbase announced the suspension of trading starting May 15. MOVE is currently down almost 14% to $0.2079, the lowest price recorded by CoinGecko.

Despite Trump's threats to cap deal activity in 2025, some crypto firms like Ripple, Galaxy Digital, and Twenty One Capital are defying expectations. The crypto industry has seen a surge in venture funding and M&A deals, with companies like Ripple leading the charge in acquisitions.

A filing with the U.S. Securities and Exchange Commission revealed that 21Shares is seeking approval for an exchange-traded fund linked to the price of Sui. The ETF aims to provide broader access to the token of a high-speed transaction network known as a "Solana Killer." 21Shares also announced a strategic partnership with Sui for future collaborations.

Nexpace, backed by Nexon, will launch MapleStory N on May 15, blending 2D gameplay with crypto assets on the Avalanche blockchain. The game will allow players to own and trade in-game assets on-chain, with a dedicated Avalanche L1 chain called Henesys.

Bitcoin has surged past $96,000, marking its strongest position since the price decline trend began in February. Industry experts attribute this rise to long-term momentum and sustained institutional interest, with factors like consistent purchasing from BTC treasury companies and capital inflows through ETFs driving the market sentiment.

Malaysian police seized 45 Bitcoin mining machines in Hulu Terengganu and Marang, estimating $8,342 monthly electricity theft losses. The syndicates operated illegally from residential and commercial properties, collaborating with Tenaga Nasional Berhad's unit.

A coalition of crypto organisations proposes an 18-month pilot program to experiment with tokenised securities on a public blockchain, aiming to make trading more efficient and transparent. The initiative, called Project Open, seeks to engage regulators and industry participants in shaping a pilot framework through public feedback.

Two complementary standards, ERC-7828 and ERC-7930, are being developed by Ethereum developers to address the issue of clearly pointing to addresses across different chains. These standards aim to improve cross-chain interactions by providing a standardized format for identifying networks and making addresses human-readable.

World, Sam Altman's blockchain project, plans to deploy 7,500 eye-scanning orbs in U.S. cities by year-end. These orbs will grant access to the World app and distribute WLD tokens to users. Altman introduced the U.S. expansion and new features at a press conference in San Francisco.

The Crypto Council for Innovation and the Proof of Stake Alliance are urging the SEC to clarify that crypto staking is not subject to securities regulations. Staking involves users locking up tokens to secure blockchain networks and earn rewards, not as an investment scheme. The coalition, supported by major companies, seeks regulatory support for innovation in the staking industry.