Odaily Odaily Planet Daily News Bitwise Chief Investment Officer Matt Hougan stated that although Hyperliquid's native token HYPE has risen 77% so far this year, making it one of the best-performing large-cap crypto assets in 2026, its value is still underestimated by the market.

Hougan believes that the market currently still views Hyperliquid as a fast-growing crypto perpetual contract exchange, but its true potential lies in becoming a global trading super-app covering stocks, Pre-IPO assets, commodities, prediction markets, and crypto assets.

He expects the proportion of non-crypto asset trading volume on the Hyperliquid platform to further increase from nearly half to 70%. Bitwise recently launched an exchange-traded fund based on HYPE and plans to use part of the management fees to continue accumulating HYPE.

According to Odaily, data shows that tokenized stock trading volume hit an all-time high on Monday, with a single-day total trading volume reaching $3.57 billion. Since the beginning of this year, on-chain stock trading volume has continued to grow, breaking through further after several consecutive weeks of increases in April.

Currently, the majority of tokenized stock trading volume is concentrated on two major platforms: Binance, the world's largest centralized exchange, and Hyperliquid, an on-chain derivatives trading platform.

Additionally, platforms such as Kraken's xStocks, Ondo, and Bitget are also driving the expansion of on-chain stock trading, bringing cumulative trading volumes into the tens of billions of dollars.

Odaily reports that the Zcash Foundation disclosed that as of the end of the first quarter, it held approximately $36.69 million in liquid assets, including about $21 million in ZEC, $12.6 million in cash and USDC, as well as small amounts of Bitcoin and ETH.

Operating expenses for the first quarter were approximately $817,000, with team compensation being the largest expenditure item. Overall, the Zcash Foundation's quarterly spending has remained below $1 million recently, reflecting a relatively restrained financial structure.

This contrasts with the large-scale incentive and marketing expenditures of some crypto foundations. For example, the Uniswap Foundation previously reserved over $100 million for grants and incentive programs, while the Polkadot Foundation has also faced criticism for its high marketing spending.

Odaily reported that the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice have filed a lawsuit against the state of Minnesota and Governor Tim Walz, opposing the state's newly signed ban on prediction markets.

The new Minnesota law, set to take effect on August 1, prohibits users from engaging in prediction market trading related to outcomes in sports, weather, company valuations, and government events. In the lawsuit, the CFTC stated this is the first state-level law in the U.S. to explicitly impose a comprehensive ban on prediction markets.

The CFTC and the Department of Justice argue that the relevant products fall under federally regulated derivatives and "swap" contracts, over which the CFTC holds exclusive regulatory authority, and that state governments are not permitted to classify them as illegal gambling or prohibit them.

This lawsuit further escalates the jurisdictional conflict between federal regulators and state-level gambling oversight authorities. Previously, the CFTC had sued states such as Illinois, Arizona, and Connecticut to oppose their attempts to shut down prediction market platforms like Kalshi and Polymarket.

Odaily reports that data shows the total supply of stablecoins has exceeded $300 billion, but the overall growth has notably decelerated. Over the past month, the supply of Tether's USDT increased by more than $5 billion, further expanding its market share.

However, during the same period, the combined supply of USDC, USDe, and PYUSD decreased by approximately $4.2 billion, offsetting most of USDT's growth. Overall, the stablecoin market saw a net increase of around $0.9 billion over the past month, equivalent to just 0.3% of the total supply.

This indicates that the current stablecoin market is not experiencing broad expansion, but rather a redistribution of shares: the newly added USDT supply is largely replacing the redemption volume of other stablecoins.

Odaily reported that Deloitte has absorbed the crypto infrastructure company Blocknative through a "team acquisition." The Blocknative team will now focus on driving Web3 innovation within Deloitte's client portfolio.

According to an announcement on Blocknative's official website, the company is ceasing operations. Its API services and Gas Network are expected to run until June 19 before being gradually shut down. Founded in 2018, Blocknative primarily provided real-time mempool monitoring, Gas fee forecasting, and transaction management tools. Its Gas Network was used to deliver real-time Gas price data.

This transaction occurs against the backdrop of a new wave of consolidation in the crypto industry. Recently, multiple infrastructure projects have experienced layoffs or ceased operations, while traditional professional services firms like Deloitte continue to expand their service coverage in the crypto sector, including accounting, auditing, and corporate advisory.

Odaily reported that, according to the Wall Street Journal citing regional mediators and US officials familiar with the terms, Iran's position in the negotiations with the US to end the conflict has not significantly changed compared to previous rounds that failed to make progress, raising doubts about whether an "exit" from the conflict can be found. The mediators pointed out that Iran still insists on its core demands, including an end to hostilities, economic relief, war reparations, and a supervisory role in the strategic waterway of the Strait of Hormuz. Furthermore, there remains a clear divergence with the US over demands for Iran to shut down or long-term suspend its nuclear program. Regional sources stated that the US and Israel have been preparing for a new round of strikes against Iran in the coming days, with some even suggesting that an attack could occur as early as next week.（Jinshi）

Odaily Planet Daily News According to sources, the Trump administration plans to inform NATO allies this week that the United States will reduce its military forces available to assist European members of the alliance in major crises. Under the so-called "NATO Force Model" framework, member states identify a set of forces that can be deployed in the event of a conflict or any other major crisis, such as a military attack on a NATO member state. Sources say that although the specific composition of these wartime forces is a closely guarded secret, the Pentagon has decided to significantly cut its commitments. Trump has made it clear that he expects European nations to take over primary responsibility for Europe's security from the United States. The message to be conveyed to allies this week is a concrete signal that this policy is being implemented. Several details remain unclear, such as how quickly the Pentagon plans to transfer crisis mode responsibilities to European allies. However, sources indicate that the Pentagon plans to announce its intention to reduce commitments at a meeting of defense policy chiefs in Brussels on Friday.

Odaily星球日报讯 美国参议员 Elizabeth Warren 于 5 月 18 日致函美国货币监理署（OCC）表示，该机构自 2025 年 12 月以来不当向至少 9 家加密公司授予国家信托牌照。Elizabeth Warren 指出，这些公司计划开展的业务超出了法律允许国家信托银行从事的有限职能，其实质是试图规避银行基本保障与义务的加密银行。

据悉，已获得或获得条件性批准的企业包括 Ripple、Circle、Paxos、Fidelity、BitGo、Coinbase、Stripe 旗下子公司 Bridge 以及 Crypto.com。美国银行家协会曾于 2 月敦促 OCC 放缓相关牌照审批，Elizabeth Warren 警告称此举会削弱消费者保障并带来监管套利风险。(financefeeds)

Odaily Planet Daily reports that the United Nations has revised its global inflation forecast for 2026 upward from 3.1% to 3.9%. (Jin Shi)

According to msx data, the US stock semiconductor sector staged a "V-shaped" reversal during trading, with many stocks significantly narrowing their declines or even turning positive. Cerebras Systems (CBRS) performed remarkably, surging over 11%; Micron Technology rose over 4%, SanDisk rose over 3%, Intel gained nearly 2%, while NVIDIA and TSMC have slightly turned positive in the green. Stocks that had previously fallen sharply also saw strong recovery: AMD narrowed its decline to less than 0.5% (previously down nearly 6%), Qualcomm narrowed its decline to approximately 3.2%, and Western Digital, Coherent, and others all narrowed their declines to within 2%.

Odaily Odaily: Kevin Warsh has sold off most of the financial assets he pledged to divest before assuming the role of Federal Reserve Chair. The latest government documents show this is a crucial step to resolve controversies surrounding his nomination process.

As one of the wealthiest Federal Reserve officials in history, Warsh obtained a "Certificate of Divestiture" dated May 16 from the U.S. Office of Government Ethics (OGE). The document reveals that he has sold multiple investment holdings valued at least $100 million, though the underlying assets of these investments had not been previously disclosed. However, the document omitted two assets that Warsh had previously pledged to divest before taking office, each valued between $250,000 and $500,000.

According to the financial disclosure documents Warsh submitted during the nomination process, his assets are estimated to be at least $192 million. However, due to the interval-based reporting format, it is widely believed that his actual wealth may be higher. (Jin10)

Odaily reports that, according to Alhadath_Brk, assessments from Israel indicate that Trump has decided to attack Iran, and implementation is only a matter of time.

Odaily reports that centralized exchanges Coinbase, Kraken, and Gemini are urging U.S. senators to remove a specific clause in the digital asset market structure bill. The clause restricts trading platforms from listing tokens that are susceptible to market manipulation.

The exchanges have submitted amendment proposals requesting the removal of this restriction, arguing that this regulatory standard, derived from traditional commodity futures, would hinder the listing of low-liquidity small-cap tokens on compliant exchanges and limit industry innovation. (crowdfundinsider)

Odaily reported on Planetary Daily: Market News: A mediator stated that Samsung and the union have not yet reached an agreement on one issue.

The mediator said that there is still a chance for Samsung and the union to reach an agreement.

The mediator indicated that negotiations between Samsung and the union are expected to conclude on Wednesday morning. (Jin Shi)

Odaily reported that gold prices continued to fall due to the strengthening of the U.S. dollar and concerns over tighter monetary policy, with spot gold dropping over $100 during the session.

Analysts at IG said: "The market still expects that major central banks may need to raise interest rates again if energy prices remain high." (Jinshi Data)