Galaxy Digital, the digital asset firm led by Mike Novogratz, and Sharplink, an ETH-focused treasury company, said they have signed a nonbinding memorandum of understanding to create the Galaxy Sharplink Onchain Yield Fund. The proposed private fund will target returns from DeFi liquidity protocols and other onchain yield strategies. Galaxy is set to serve as investment manager, with a launch expected in the coming weeks. Total commitments are expected to reach $125 million, made up of $100 million sourced from Sharplink's staked Ethereum treasury and $25 million from Galaxy. The mandate will seek higher-yield opportunities across blockchain-based financial markets by allocating capital to selected onchain applications, allowing Sharplink to keep its ETH exposure while pursuing actively managed onchain returns. Galaxy said protocol selection, position sizing, and ongoing monitoring will be conducted under its institutional research and risk management framework, which it also applies across lending, trading, and asset management. The firm added it has deployed hundreds of millions of dollars into onchain strategies since 2020 and is among the largest publicly traded companies allocating capital to decentralized finance and related blockchain investment opportunities. "Institutional capital is moving onchain, and the infrastructure to support it has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets," Novogratz said. He added that Sharplink has built one of the largest Ethereum treasuries among public companies and that the partnership aims to compound its core ETH position. Sharplink Chief Investment Officer Matthew Sheffield described the initiative as an extension of the company's treasury strategy into more active approaches. Sharplink ranks as the second-largest Ethereum treasury company, holding about 868,700 ETH, behind Bitmine at roughly 5.21 million ETH. Separately, Sharplink reported first-quarter 2026 revenue of $12.1 million, up from $0.7 million a year earlier, attributing the increase primarily to its Ethereum treasury strategy. The company also posted a net loss of $685.6 million, largely tied to unrealized accounting losses and impairment charges driven by weaker ETH prices. Sharplink said the losses were non-cash under accounting rules and did not reflect ETH sales at a loss or a reduction in its Ethereum holdings.

MARA has sold a portion of its Bitcoin holdings to fund debt buybacks and finance the acquisition of a power plant, moves that align the miner with the sector's broader shift toward AI-focused infrastructure.

U.S. inflation is now rising faster than growth in Americans' paychecks for the first time in three years, The Wall Street Journal reported.

Ethereum developers have put forward a proposal to end "blind signing", a technical feature that has been linked to potentially billions of dollars in losses.

JPMorgan has filed to launch a tokenized money market fund on the Ethereum blockchain.

Inflation has moved back ahead of growth in Americans' paychecks for the first time in three years, The Wall Street Journal reported.

The Ethereum Foundation said its "Clear Signing" initiative is now live, introducing an open standard intended to make wallet approvals readable by default and curb the risks associated with "blind signing." Clear Signing is designed to replace opaque transaction data with plain-language descriptions that show users what they are authorizing before they sign. According to the project overview, ERC7730 enables protocols to express transaction intent so wallets can display the action, amount, protocol, and expected outcome instead of raw calldata. Blind signing remains a long-running user experience and security issue across Ethereum, with many wallets still presenting raw bytes or generic prompts that users approve without fully understanding. Clear Signing likens the status quo to signing a blank check. The framework does not alter how Ethereum transactions function. It adds a verifiable display layer at the signing step, allowing wallets to translate technical transaction data into readable intent while keeping trust decisions within each wallet. Under ERC7730, metadata maps raw transaction data to human-readable descriptions. In practice, a wallet could show that a user is swapping 1,000 USDC for at least a specified amount of ETH on Uniswap, rather than asking them to approve an unreadable hexadecimal string. The initiative also introduces a neutral, mirrorable descriptor registry, an attestation framework under ERC8176 for auditors to verify descriptor integrity, and open tooling for wallets, protocols, and auditors. Contributors include Ledger, Trezor, MetaMask, WalletConnect, Fireblocks, Zama, Sourcify, Cyfrin, and the Ethereum Foundation's Trillion Dollar Security initiative. The registry is designed to be open and permissionless, enabling protocol teams, security researchers, and other contributors to publish descriptors. Wallets can then decide which descriptors and attestations to rely on when presenting transaction details to users.

JPMorgan (JPM) is moving to bring money market funds on-chain, underscoring how large banks and Wall Street asset managers are accelerating efforts to shift traditional assets onto blockchain infrastructure. In a filing submitted Tuesday to the U.S. Securities and Exchange Commission (SEC), the bank detailed plans for a blockchain-based money market fund that would invest solely in short-term U.S. Treasuries, cash, and overnight repurchase agreements backed by government securities. The proposed vehicle, JPMorgan OnChain LiquidityToken Money Market Fund (JLTXX), would track investor ownership through blockchain-based token balances. The filing said approved users would be able to place purchase, redemption, and transfer requests via Ethereum. Kinexys Digital Assets—JPMorgan's blockchain unit formerly known as Onyx—would run the underlying blockchain infrastructure. JPMorgan said the fund is designed to meet reserve asset requirements under the GENIUS Act, legislation aimed at regulating stablecoin issuers in the U.S. The structure could make it a yield-bearing reserve option for stablecoin firms seeking compliant exposure to Treasuries. The filing arrives days after BlackRock (BLK), the world's largest asset manager, submitted paperwork for a new tokenized Treasury reserve vehicle and blockchain-based shares of an existing $7 billion money market fund. Tokenization—creating blockchain-based representations of traditional financial assets—has become a major theme across both finance and crypto. Proponents say it can shorten settlement times, improve transparency, and enable 24/7 trading and collateral use. The tokenized real-world asset market has expanded more than 200% over the past year and now tops $32 billion, according to rwa.xyz. Treasury-linked products have been among the fastest-growing segments as institutions look to earn yield on on-chain cash. JPMorgan has been one of the most active traditional banks in embedding blockchain infrastructure into mainstream finance. In December, it launched a tokenized money market fund called MONY on Ethereum, giving institutional investors blockchain-based access to short-term cash products. Through Kinexys, the bank has also processed tokenized collateral and settlement transactions for institutional clients.

A federal judge in Wisconsin has concluded that the Ho-Chunk Nation is likely to prevail in its effort to stop prediction-market operator Kalshi from offering sports event contracts on the tribe's Indian lands under the Indian Gaming Regulatory Act (IGRA), marking what appears to be the first federal IGRA ruling to side with a tribe against Kalshi. U.S. District Judge William M. Conley issued the decision on May 11, 2026, finding a "likelihood of success" on the tribe's IGRA claim, Bloomberg reported. The Ho-Chunk Nation, a federally recognized tribe, sued Kalshi Inc., KalshiEX LLC, Robinhood Markets Inc., and Robinhood Derivatives LLC last August in the U.S. District Court for the Western District of Wisconsin. The Wisconsin ruling breaks from an earlier outcome in California. In November 2025, U.S. District Judge Jacqueline Scott Corley in the Northern District of California denied a temporary restraining order sought by Blue Lake Rancheria, Chicken Ranch Rancheria of Me-Wuk Indians, and Picayune Rancheria of the Chukchansi Indians, holding they had "not met their burden of showing a likelihood of success on their IGRA claim." That decision is now on appeal at the Ninth Circuit. In Wisconsin, the Ho-Chunk Nation moved for a preliminary injunction in December 2025 to block Kalshi and Robinhood from offering sports event contracts to users on tribal lands while the case proceeds. Sixteen tribes filed an amicus brief in support. The complaint also includes a Racketeer Influenced and Corrupt Organizations (RICO) Act claim describing Kalshi's sports event contracts business as a "Gaming Racket," along with false advertising allegations. Trial is set for May 24, 2027, before Judge Conley. Kalshi has argued in the Wisconsin case that its status as a CFTC-regulated designated contract market (DCM) preempts IGRA. Its lawyers point to the 2006 Unlawful Internet Gambling Enforcement Act exemption for DCM-traded contracts from the federal definition of a "bet or wager," and to the CFTC's self-certification process for new event contracts under the Commodity Exchange Act. The arguments track positions Kalshi advanced successfully in earlier enforcement matters before Judge Corley. The federal fight in Wisconsin unfolds alongside a state-level crackdown. On April 23, 2026, Wisconsin Attorney General Josh Kaul filed three parallel lawsuits in Dane County Circuit Court against Kalshi and Robinhood, Polymarket, Crypto .com (operating as Foris Dax Markets), and Coinbase, alleging they facilitated sports betting in violation of Wisconsin's Class I felony gambling statute. Kaul said in a virtual press conference that "thinly disguising unlawful conduct doesn't make it lawful" and called for the companies to be "shut down" from offering sports-related event contracts to Wisconsin customers. The CFTC later sued Wisconsin, along with four other states, alleging they interfered with federal authority over derivatives markets. Kalshi had not publicly commented on Conley's ruling as of publication. The decision adds to a patchwork of early federal outcomes for Kalshi's sports event contracts: the company holds an injunction in New Jersey that was affirmed by the Third Circuit, has lost similar bids in Maryland, and saw its Nevada injunction dissolved on review.