Celsius Founder Alex Mashinsky Gets Another Major Ban After Massive Crypto Fraud

Turnkey has secured $12.5 million in a strategic investment round, with backing from Archetype, Circle Ventures, and existing investors, bringing its total funding to over $65 million. The company, founded by former Coinbase Custody employees, focuses on wallet and key-management infrastructure for crypto applications.

The Bank of England is reconsidering its stablecoin rules, considering alternative approaches to managing risks as the sector expands. Officials are exploring different ways to address liquidity stress and industry preferences for interest-earning assets.

Tezos co-founder Arthur Breitman issued a warning about the industry's complacency towards quantum computing threats to blockchain privacy. Tezos has launched TzEL, a post-quantum privacy system, to protect against potential attacks in the future.

Bitcoin experienced a brief dip below $80,000, attributed to Strategy's preferred stock fueling mid-month rallies for three consecutive months. The STRC ex-dividend date on Friday may determine if the pattern continues.

Coinbase is expanding its role on Hyperliquid by managing USDC liquidity through the Aligned Quote Asset framework. The deal allows Coinbase to purchase USDH brand assets and marks a step in expanding USDC usage beyond Ethereum and centralized exchanges.

Strive's preferred stock will pay daily cash dividends starting June 16, a first in U.S.-listed securities history. The move increases the annual percentage yield to approximately 13.88%, surpassing traditional monthly payment structures due to more frequent compounding across 250 business days per year.

On Wednesday, U.S. spot Bitcoin ETFs experienced a significant outflow of $630.4 million, the largest in over three months, due to inflation shocks prompting institutional retreat from risk assets. This marked a reversal from a five-week inflow streak, with BlackRock's IBIT leading in redemptions.

Moody’s has given Fidelity and BlackRock's tokenized money market funds the highest credit rating, indicating strong liquidity, capital preservation, and low risk. Fidelity's FILQ fund, powered by Sygnum's Desygnate platform, offers onchain fund registries and smart contract settlement. BlackRock's BUIDL is a top tokenized Treasury fund.

Metaplanet reported a significant first-quarter loss of $725 million due to a decrease in the value of its Bitcoin holdings. Despite a declining stock price, the company has seen an increase in its investor base and revenue from selling Bitcoin options contracts.

Lucy Rigby, Economic Secretary to the Treasury, highlighted the potential for digital assets to transform U.K. financial markets by improving efficiencies and speeding up processes. She emphasized the importance of working closely with industry and regulators to understand how digital assets can reshape financial markets.