As of May 25, BitMine’s treasury stands at 5,390,404 ETH, acquired at an average price of $2,134, representing 4.47% of Ethereum’s 120.7 million coin supply. Alongside this hoard lies 203 BTC, $200 million in Beast Industries equity, $95 million in Eightco Holdings “moonshot” exposure, and $444 million in cash, bringing their total assets to $12.3 billion. A fortune that would make even the Master’s pockets jingle with envy.
Ah, but let us not get ahead of ourselves! There is no official launch, no grand unveiling, just the usual cacophony of industry chatter. Yet, if this Tether-backed lari token were to materialize, it would be a grand experiment, testing whether national-currency stablecoins can dance domestically while sharing the stage with dollar stablecoins and a central bank digital currency (CBDC) pilot. A true comedy of errors, or perhaps, a masterpiece of financial innovation?
Built upon the X Layer, OKX’s Ethereum layer-2 network, this platform invites users to craft their own spot, perpetuals, and outcomes markets from scratch. It borrows the same infrastructure that powers OKX’s main exchange, offering a communal pool of liquidity to any market born within its walls. A noble endeavor, perhaps, but one wonders if this digital utopia will avoid the pitfalls of its predecessors.
Stable, a blockchain built for USDT, has launched StableEarn. This new tool lets users earn rewards on their USDT holdings directly on the Stable network. The first feature within StableEarn is a savings vault powered by Morpho, with risk management provided by Gauntlet and supported by Theo’s real-world asset solutions.
Zcash (ZEC) has seen a significant price increase recently, jumping over 110% in the last month. On May 22nd, it briefly reached $682 before settling back to around the $600 mark. Since the start of the year, its price has more than doubled, increasing by over 245%, which is a better performance than most other major cryptocurrencies.
Aave announced on X that its rsETH markets were back to normal. Kelp DAO confirmed the successful completion of repairs to address liquidity issues caused by a recent cross-chain attack, bringing weeks of recovery efforts to a close.
Cardano’s Midnight privacy layer has officially launched on mainnet, bringing full programmable confidential transactions to $ADA users, though it seems no one got the memo.
According to WonderFi’s proclamation on Monday, the Canadian Investment Regulatory Organization, in a fit of bureaucratic whimsy, approved WonderFi’s offspring, Coinsquare Capital Markets, on May 20, thus removing the final obstacle to this grand alliance.
On May 5th, Multicoin Capital revealed they had been steadily investing in Zcash (ZEC) since February 2024. Currently, about 30% of all ZEC is held in privacy-focused pools, a significant increase from 8% at the beginning of the year. The network’s halving event in November 2024 reduced the rate at which new ZEC is created, cutting it from 4% to 2% per year. A major upgrade, called FCMP++, is planned for 2026 and is expected to dramatically speed up transaction processing. There’s a growing understanding that privacy coins like ZEC aren’t just for anonymous transactions, but are crucial for businesses needing secure and confidential communications. ZEC is currently trading around $522, slightly down from its recent high in May.
Bitwise’s product, traded as BWCC (ISIN DE000A4ARTH9), follows the Kaiko CANTO Reference Rate LDNLF index. Bitwise announced on Tuesday that the annual expense ratio for BWCC is 0.85%.