Mastercard said it is expanding its stablecoin settlement options, adding USDC, PYUSD and RLUSD to its lineup.

Citi has pointed to Chainlink's Cross-Chain Interoperability Protocol (CCIP) as a core technology for linking blockchain networks, underscoring its potential role in the development of tokenized finance. In its report, Citi projects the market for tokenized assets could reach $8.2 trillion by the end of the decade. The bank added that institutional investors are increasingly prioritizing secure cross-chain infrastructure to support asset settlement.

UPDATE: BitMine is down $8.9B on its ETH holdings, while Strategy is down $7.6B on its BTC position.

A whale wallet linked to Matrixport that is long 120,000 ETH (about $224.5 million) is now sitting on an unrealized loss of more than $46 million. The position has also incurred $1.78 million in funding fees. Reported liquidation levels are $1,573.93, $1,515.91, $1,416.52 and $1,355.83.

HUGE: hyperliquid:native is quickly gaining traction with Wall Street as a round-the-clock marketplace for trading perpetual futures. The Wall Street Journal reports the platform is being used to access a wide range of underlying exposures, from crude oil to pre-IPO companies.

Mastercard is expanding its stablecoin settlement support to include USDC, RLUSD, PYUSD, USDG, USDP and SoFiUSD. The added support spans Ethereum, Solana, XRP Ledger, Base, Arbitrum and Polygon.

Mastercard is expanding its settlement capabilities to support regulated stablecoins, including USDC, RLUSD and PYUSD. The network coverage spans Ethereum, Solana, Base, Arbitrum and the XRP Ledger (XRPL).

Bitmine, a digital asset firm backed by Fundstrat Global Advisors' Tom Lee, significantly increased its Ethereum (ETH) holdings on May 23, 2024. According to data from blockchain analytics platform Lookonchain, the entity received 25,000 ETH, valued at approximately $48 million, roughly 12 hours prior to the report. This substantial accumulation occurs during a period of broader market weakness and renewed downward pressure on digital asset prices. The strategic move highlights Bitmine's long-term conviction in Ethereum's value proposition despite short-term volatility. The transaction underscores a growing trend of institutional-backed entities capitalizing on price dips to consolidate positions in leading cryptocurrencies, as reported by Lookonchain. This move by a Tom Lee-backed entity signals a bullish outlook from prominent financial analysts amidst a fluctuating crypto landscape.

On-chain data indicates that Garrett Jin (@GarrettBullish) executed a series of high-volume transfers to Binance between May 6 and May 10, totaling 577,717 ETH. Valued at approximately $1.35 billion with an average price of $2,337, these deposits coincided with a local peak in Ethereum's valuation. Following the completion of these transfers, the Ethereum market experienced a sharp selloff, with the asset's price declining by more than 20%. This strategic movement of capital suggests a significant sell-into-strength maneuver by the prominent investor. While the specific intent behind the transfers remains unconfirmed, the timing aligns precisely with the subsequent market downturn, highlighting the impact of large-scale exchange inflows on asset volatility and investor sentiment within the broader cryptocurrency ecosystem.