U.S. inflation print sparks crypto pullback; VerusEthereum bridge exploit tops $110M

CryptoNews.com (May 20) — U.S. inflation data weighed on risk assets, prompting a broad selloff across crypto markets. In security news, the VerusEthereum cross-chain bridge was exploited, with reported losses exceeding $110 million. Industry metrics showed total stablecoin supply rising above $300 billion, though the pace of growth has begun to cool. On the policy front, a U.S. senator said Ripple and Coinbase should not receive national trust charters. Coinbase, Kraken and Gemini also urged the Senate to drop restrictions that would limit the listing of crypto tokens. Regulators signaled potential openings as well. The SEC said it plans to introduce an innovation exemption framework that would allow crypto platforms to trade tokenized stocks. Tokenization activity continued to expand: the on-chain real-world asset (RWA) market value climbed past $65 billion, with Ethereum representing 33%. Daily trading in tokenized stocks reached a new record of $3.57 billion. Prometheum, which previously received SEC approval, completed its first Ethereum trades. The Zcash Foundation said the SEC has closed its investigation and that its liquid assets stand at roughly $36.7 million.