Gate Insights and Crypto Market Analysis

On May 20, on-chain security firm Blockaid detected an attack on Butter Bridge V3.1, a cross-chain bridge component under MAP Protocol, on Ethereum and BSC. The attacker exploited a smart contract design flaw to induce the bridge contract to illegally mint roughly 10 trillion MAPO tokens directly to a newly created address, about 4.8 million times the 208 million MAPO in legitimate circulating supply. Attack Mechanism: Smart Contract Design Flaw in the Retry Message Verification Process Blockaid

DeFi organization YAM said in an X post on May 21 that, using proportional allocation, about $1.33 billion of Ethena’s USDe—out of its $4.4 billion in collateral funds—falls under “self-loans,” meaning Ethena indirectly provides funding for loans backed by USDe or sUSDe by using its liquidity share across various DeFi lending pools. YAM Calculation Results: Three Core Figures Under Proportional Allocation According to the calculation results listed in YAM’s post: Ethena self-loan estimate: about

SpaceX has secretly filed an S-1 draft with the U.S. Securities and Exchange Commission (SEC) on April 1 and plans to complete its initial public offering (IPO) on June 12 on Nasdaq under the stock ticker SPCX. The roadshow is expected to kick off around June 4. The S-1 document shows that the company’s revenue in the first quarter of 2026 will be $4.69 billion, with a GAAP net loss of $4.28 billion. Confirmed IPO Structure: Share Split, Retail Allocation, and Dual-Class Equity SpaceX completed

The Monetary Authority of Singapore (MAS) announced on May 21 that it has revoked the main payment institution license of the cryptocurrency liquidity provider Bsquared Technology (BSQ). The revocation order took effect on May 14. The direct reasons for this revocation include BSQ’s weak risk management, insufficient controls over conflicts of interest, violations in outsourcing arrangements, and repeated provision of false or misleading information during the license application and regulatory

Gurugram-based eyewear retailer Lenskart outlined an AI-central strategy for FY27 in a shareholder letter, positioning artificial intelligence as the core driver for scaling customer acquisition and eye testing across its business. The company plans to deploy AI across stores, factories, and custome

According to a May 21 report by Bitcoin.com News, the U.S. Office of the Comptroller of the Currency (OCC) has, beginning in December 2025, approved at least nine crypto companies to obtain national trust bank charters, including BitGo, Ripple, and Coinbase. In May, Senator Elizabeth Warren sent a letter to OCC Director Jonathan Gould, saying the approval actions were “improper.” OCC confirms approved trust charters: approval conditions and timelines for three companies Between December 2025 and

Bloomberg ETF analyst James Seyffart revealed on May 21 that Defiance ETFs has submitted to the SEC a new money market ETF application aimed at meeting the qualified reserve asset requirements under the GENIUS Act, with the goal of encouraging payment stablecoin issuers to invest in the fund. Technical positioning of Defiance ETFs’ application Defiance ETFs’ filing is intended to design the ETF’s underlying investment portfolio as an investment vehicle that meets the qualified reserve asset stan

Italian investigators traced €1 million in undeclared crypto gains through a Bitcoin Ordinals trading operation after analyzing activity tied to a seized Ledger wallet. Chainalysis detailed how blockchain records and exchange data helped reconstruct the alleged trading flows. Key Takeaways:

Bitcoin (BTC) rebounded from this week’s low, temporarily around $77,880 on May 21. The Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market ETFs. In its S-1 filing, SpaceX disclosed that it holds 18,712 BTC, currently worth approximately $1.45 billion. Macro Events & Crypto Hot Spots 1、Bloomberg ETF analyst Eric Balchunas wrote on X that the Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market

Ubisoft reported a record net loss of 1.5 billion euros (US$1.73 billion) for the year ended March 31, driven by game delays, restructuring costs, and seven project cancellations. The French video game maker is consolidating operations by grouping half its studios into five creative houses and

On May 21, TAC released an official post-incident analysis report regarding the May 11 TON-TAC asset bridge security incident. The root cause of the vulnerability was that the sorter software lacked key validation. The total loss was approximately $2.85M (involving USDT, BLUM, and tsTON). About 90% of the stolen assets have been returned to the multi-signature addresses controlled by TAC, and the TAC Foundation will cover the remaining $288k. Incident Root Cause and Attack Technical Details Acco

According to CoinTelegraph, on May 20, the office of Missouri Attorney General Kathleen Harnavey announced charges against GPD Holdings (doing business as CoinFlip), accusing it of knowingly assisting fraudulent transactions and profiting from them. The alleged scheme targets senior citizens and veterans, with a maximum fine of $1.83M. Confirmed details of the lawsuit allegations and requested relief According to the Missouri Attorney General’s official announcement, the full relief requested in

On May 21, Bitcoin rebounded to around $78,000. Citing Axios and three independent sources, U.S. President Trump and Israeli Prime Minister Netanyahu held a call on Tuesday regarding a U.S.-Iran diplomatic agreement described as “difficult” in tone. Qatar has submitted a latest draft agreement to both the U.S. and Iran, with regional mediators including Pakistan, Saudi Arabia, Turkey, and Egypt participating in synchronized revisions to the text; previously, a ceasefire between the two sides, wh

Mumbai-based Aditya Birla Capital announced on May 20 that its board approved a 40 billion rupees (US$413 million) equity raise to support lending and other corporate needs. Three investors are participating: Grasim Industries will invest 28.8 billion rupees (US$298 million), Suryaja Investment

Opening Jewelry brands across India and Southeast Asia are adopting AI tools to accelerate design and marketing workflows while offering more personalized customer services. According to a recent survey, 68% of Indian jewelry manufacturers are already using AI for design and inventory

Opening NanoClaw, an Israeli AI security startup, has raised US$12 million in a seed funding round led by Valley Capital Partners. The company offers a security-focused alternative to OpenClaw, an AI agent framework, and runs AI agents in isolated containers. The funding was backed by Docker,

Gold Market Outlook: From Liquidity Surge to Fundamental Drivers CITIC Securities released a research report analyzing gold price dynamics through 2025–2026, concluding that while gold remained firm in 2026 following its surge in 2025, the precious metal weakened relative to other assets such as s

Revolut has launched its first physical crypto debit card, expanding its push into everyday digital asset spending as fintech and crypto firms compete for payment flows beyond trading and custody. The card features a Dogecoin-themed design and an LED display that lights up during contactless payment

The Federal Reserve released minutes from its April monetary policy meeting on May 20, US Eastern Time, revealing significant internal divisions over the path forward as inflation pressures persist. The Federal Open Market Committee (FOMC) voted to hold the federal funds rate at 3.50% to 3.75%,

Hyperliquid's HYPE token rose 7% today to $51 and gained 32% over the last week, driven by growing trading activity around newly launched HYPE spot exchange-traded funds. Bloomberg ETF analyst Eric Balchunas noted that the 21Shares Hyperliquid ETF, trading under ticker THYP, has seen daily volume ri