Blockchain.com has confidentially filed for a US initial public offering, signaling another attempt by infrastructure-focused firms to re-enter public markets. The company said on 21 May it submitted a draft Form S-1 to the US SEC for a proposed IPO of its Class A ordinary shares, without disclosing share count or valuation. The filing arrives as IPO discussions intensify across AI, fintech, and crypto infrastructure after a prolonged slowdown.

A CoinGecko report says leveraged crypto trading has been shifting toward perpetual DEXs, which increased their share of trading volume and open interest through 2025. The perp DEX-to-CEX volume ratio rose from 3% in January 2025 to a 13% peak later in 2025, then eased to about 10% by April 2026, while Hyperliquid recorded roughly $190.28bn in April volume.

Ethena's latest reserve dashboard update dated 20 May shows USDe's backing tilting toward DeFi lending and liquid stablecoin reserves, indicating a more conservative posture than earlier derivatives-heavy yield tactics. DeFi lending represents about 47.7% (around $2bn) of backing, while liquid stablecoins make up about 52.7%, alongside a reported 101.55% backing ratio versus roughly $4.45bn USDe supply.

A consortium of European lenders building a euro-pegged stablecoin is scaling up as banks look for alternatives to US dollar-backed crypto payment rails. Qivalis said on 20 May it added 25 banks, lifting membership to 37 institutions across 15 countries. The move comes as USDT and USDC continue to dominate global stablecoin liquidity, while euro stablecoin circulation remains comparatively limited.

Wintermute said a recent Bitcoin move higher was largely powered by leverage and short covering, not strong spot buying, and that renewed macro worries are now weighing on digital assets. Bitcoin fell 5.7% for the week after briefly trading above $82,000, while Ethereum dropped more than 10%, alongside nearly $657 million in liquidations over the weekend.

Strategy Inc. said it bought 24,869 Bitcoin worth about $2.01 billion between 11 May and 17 May, according to a Form 8-K released on 18 May. The company reported total holdings of 843,738 BTC acquired for approximately $63.87 billion at an average cost of roughly $75,700 per BTC. It said the purchases were financed primarily through ATM sales of STRC preferred shares, alongside a smaller amount raised from MSTR common stock.

THORChain said on 15 May it automatically detected abnormal activity and halted signing, pausing churn after one of its Asgard vaults was compromised. The exploit drained roughly $10.7 million to $10.8 million, with the protocol saying early signs indicate user funds were not directly impacted and losses were limited to protocol-owned funds. Separate commentary from Ledger CTO Charles Guillemet suggested the incident may relate to MPC/TSS signing infrastructure, though the root cause has not been confirmed.

The Senate Banking Committee moved the CLARITY Act forward during a markup session on 14 May, approving an amended version of the bill by a 15–9 vote. Lawmakers debated proposed changes touching ethics standards, DeFi-related oversight, and anti-money laundering language, with several ethics-focused amendments failing. The measure is not yet approved by the full Senate and must still clear additional procedural steps before it can become law.

CME Group said on 14 May it plans to introduce Nasdaq CME Crypto Index futures on 8 June, pending regulatory approval, offering both micro and larger contract sizes. The market-cap-weighted, multi-asset contract will be cash-settled and aims to provide diversified crypto exposure or broad hedging through a single regulated instrument.