At Consensus 2025, PayPal SVP Jose Fernandez da Ponte emphasized institutional collaboration: “Bank infrastructure remains essential to scale stablecoins beyond crypto-native users.” MoneyGram CEO Anthony Soohoo highlighted pending U.S. stablecoin legislation as a “$120B liquidity unlock,” predicting market consolidation post-regulation. Both executives noted metrics like transaction velocity (currently 14.2M daily stablecoin transfers) and adoption in hyperinflationary economies (Argentina’s 23% USD-pegged stablecoin usage) as true adoption indicators.
FTX Begins
5B Credit or Repayments ∗∗ The bank rupt exchange will in itiate its second repayment phase on May30,distri buting over 5B to creditors. This follows Q1 2025’s 890M payout to convenience−classclaimants(<50k). Sunil Kavuri, an FTX creditor representative, confirmed Kraken’s involvement in notifying users about the distribution timeline.
Legal & Compliance
Tornado Cash Co-Founder Faces Narrowed Charges
Roman Storm’s trial will proceed on July 14 with SDNY prosecutors dropping “unlicensed transfers” charges but retaining money laundering and sanctions violation allegations. The DeFi Education Fund criticized the DOJ’s approach as “prosecutorial overreach,” while Coin Center’s Peter Van Valkenburgh noted ambiguities in applying banking laws to decentralized protocols.
SEC Probes Coinbase User Metrics
An ongoing SEC investigation questions Coinbase’s historical “100M verified users” claims in its 2021 IPO filings. Sources confirm the probe, initiated under the Biden administration, remains active under Trump’s SEC chair Paul Atkins. Coinbase has retained Davis Polk for defense counsel.
Institutional Adoption & Market Moves
BlackRock Integrates BUIDL with Avalanche’s Euler
The $2.9B tokenized treasury fund now connects to Avalanche via Securitize’s sToken framework, enabling sBUIDL holders to collateralize loans while earning 4.8% yield. Re7 Labs engineered the integration, marking BlackRock’s first direct DeFi protocol linkage.
**Abu Dhabi’s 408 MBitcoin ETFBet∗∗Mubadala Investment Company disclosed an 8.7 Mshare position in BlackRock’sIBIT(408.5M), amplifying May’s 2.1 Bnetin flowsin to U.S.spot Bitcoin ETFs. IBITalonecaptured232M on May 14 – its 18th consecutive inflow day.
Corporate Strategy Shifts
DDC Enterprise Adopts Bitcoin Treasury Strategy
The cross-border e-commerce firm will acquire 5,000 BTC over three years, starting with a 100 BTC purchase. CEO Norma Chu cited Bitcoin’s “inflation-resistant properties” aligning with DDC’s $37.4M revenue growth (FY2024).
Buffett’s Q1 Portfolio Rebalance
Berkshire Hathaway exited Citigroup (3.2Bposition) and Nu Holdings while maintaining its156B Apple stake. New buys included Constellation Brands (+113.5%) and Occidental Petroleum, reflecting a defensive pivot amid tech volatility.
Market Perspectives
Ethereum’s Founding Vision Revisited
Co-founder Anthony Di Iorio reframed ETH’s role at Consensus 2025: “We built an alternative to Bitcoin’s digital gold narrative, not a competitor.” His comments followed Ethereum’s Q1 2025 38% institutional inflow growth versus Bitcoin’s 22%.
O’Leary Demands Clearer Crypto Rules
Investor Kevin O’Leary urged accelerated regulation: “Without SEC clarity, $1T in institutional capital remains sidelined.” He praised new SEC leadership for “pragmatic engagement” ahead of the pending GENIUS Act vote.
Barstool Founder Slams Meme Coin Ecosystem
Dave Portnoy labeled meme coins “algorithmic Ponzi schemes” at Consensus 2025, citing his $20K legal settlement over SafeMoon promotions. His critique aligns with IMF research showing 78% of meme coins lose 90% value within six months.
Related Topics：
