Project Progress

Moody's Ratings released an in-depth industry report on May 12, saying that through discussions with U.S. banking industry and financial institutions, as well as a review of publicly disclosed information, an industry consensus has formed that the transition to a digital financial system is taking shape in a “slow at first, then fast” pattern. The report said that the outstanding size of tokenized money market funds (MMF) is $10 billion, and the Depository Trust & Clearing Corporation (DTCC) wil

According to BlockBeats, on May 13, Legend announced it will shut down operations and close its onchain finance application on July 12. The team stated that while the product attracted real users, growth did not reach the level needed for long-term sustainability. Existing users must withdraw

On May 13, CoinTelegraph reported that JPMorgan has filed documents with the U.S. Securities and Exchange Commission (SEC) to launch on Ethereum a tokenized fund called the “On-Chain Liquidity Token Money Market Fund” (JLTXX). It would allow stablecoin issuers to deposit their stablecoin reserves into regulated cash-like instruments while earning interest. JLTXX Fund Core Terms and Design According to an SEC filing (reported by CoinTelegraph), JLTXX’s main terms are as follows: Investment target

According to Startale CEO Sota Watanabe, the Japanese Web3 infrastructure company will launch JPYSC, a bank-backed Japanese yen stablecoin, within coming months. Startale Labs completed a $63 million Series A funding round in March, led by Sony Innovation Fund, with participation from Samsung

According to a statement made by Bitdeer Group Chairman Wu Jihan on X on May 12, Wu Jihan said: “The next target for GPU deployment is 10k units, then 100k units, and then 1 million units.” On the same day, Bitdeer released its April unaudited production and operations update, with AI cloud business annual recurring revenue (ARR) up 60% month over month to $69 million. AI Cloud Business: ARR Rises 60% Month over Month to $69 Million (Source: Bitdeer) Based on Bitdeer’s April operating update, th

According to PANews, the x402 protocol now supports batch settlements, enabling large volumes of micro-payments as low as $0.0001 per transaction, on May 13. Base protocol lead Jesse Pollak announced the update on X, noting the feature is designed for on-demand payment computing and inference use

According to ChainCatcher, Aave and Kelp have completed the first phase of their rsETH recovery plan, destroying attacker-held rsETH on Arbitrum. Over the coming days, the parties will gradually replenish funds to LayerZero's OFT adapter and phase in the restart of rsETH operations, with 117,132 rsE

According to The Block, the Ethereum Foundation is standardizing Clear Signing security solution on May 13, establishing a public registry for submitting contract descriptors and designating ERC-7730 as the shared format. Clear Signing replaces blind signing by allowing users to read

According to an SEC filing on May 12, JPMorgan launched JLTXX, its second tokenized money market fund on Ethereum. The OnChain Liquidity-Token Money Market Fund will invest in U.S. Treasurys and overnight repurchase agreements, designed to satisfy reserve requirements that stablecoin issuers must ma

According to its Q1 2026 financial report released May 11, Bakkt's revenue fell to $243.6 million, down 77.1% year-over-year, as the crypto infrastructure firm completed its all-stock acquisition of Distributed Technologies Research on April 30 and pivots toward stablecoin-based financial infrastruc

Key Insights Hedera entered the insurance sector through HashSphere integration, creating steady HBAR transaction demand tied directly to property data verification. Eight leading United States property insurers joined the initiative, strengthening Hedera’s enterprise adoption narrative and

Key Insights Hedera entered the insurance sector through HashSphere integration, creating steady HBAR transaction demand tied directly to property data verification. Eight leading United States property insurers joined the initiative, strengthening Hedera’s enterprise adoption narrative and

According to BlockBeats, Sei Labs officially closed IBC asset inflows on May 13, following a community proposal. The network previously integrated the closure mechanism in the v6.4 upgrade released in April. Users currently holding IBC assets on Sei are advised to bridge or swap them out

According to BlockBeats, Movement completed the acquisition of Canopy, an on-chain Vault infrastructure project, on May 12. Canopy previously operated as a key component of Movement's ecosystem, enabling users to configure assets and combine strategies with independent strategy managers through

According to Ronin official announcement, the network completed a hard fork migration to Layer 2 on May 12, with approximately 10 hours of planned downtime. The upgrade paused all network services, affecting transactions, NFT transfers, and Axie Infinity gaming activity. Layer 2 architecture is

According to The Graph's official announcement on May 12, Graph Gateway now supports x402 Payments, enabling developers and AI Agents to access on-chain data via USDC per-request payments without requiring API keys, accounts, or dashboards. Users receive an HTTP 402 response containing price

According to BlockBeats, ZKsync introduced the ZK Fee Flow System proposal on May 12. Developed by governance service provider ScopeLift, the system is a smart contract mechanism that allows ZKsync Governance to route and allocate protocol revenue and fees through on-chain

According to Ether.fi's official announcement on May 11, the platform launched its EURC Liquid vault, enabling users to earn decentralized finance yield on euro-denominated stablecoin holdings while spending EURC at a one-to-one euro equivalent with zero foreign exchange fees. The rollout was

According to ChainCatcher, SharpLink's cumulative Ethereum staking rewards have reached 19,277 ETH since launching its ETH treasury strategy, with 477 ETH earned in the past week.