Next Week Must Watch: CME Group Launches 24/7 Crypto Futures and Options Trading; Several Projects Including Phi, Leap Wallet Shut Down (May 25-31)
- Core Thesis: Next week (May 25-31), the crypto industry will see several major events, including token listings and delistings on Binance and DAXA, the cessation of operations for multiple crypto projects (Phi, Leap Wallet, DL News), and the launch of 24/7 cryptocurrency futures trading by CME Group, all pointing to an accelerated structural adjustment and divergence within the industry.
- Key Factors:
- On May 25, Binance Alpha will list Solstice (SLX); on the same day, on-chain identity project Phi will cease operations, with liquidity expected to gradually decline.
- On May 26, member exchanges of Korea's DAXA will delist the RESOLV spot trading pairs; on May 27, Binance announced it will delist five tokens, including ATA and FARM, in May 2026.
- On May 28, Cosmos ecosystem non-custodial wallet Leap Wallet will fully shut down its products and services, urging users to re-delegate their ATOM stakes promptly.
- On May 29, CME Group will launch 24/7 cryptocurrency futures and options trading, marking a further integration of traditional financial infrastructure into the crypto market.
- On May 31, crypto media outlet DL News will suspend operations, highlighting the challenges facing industry media.
- Polymarket will launch a taker fee rebate program next week, offering up to a 50% fee rebate, with the policy linked to a user's weighted trading volume over the past 30 days.
- Several Fed officials (including New York Fed President Williams and Governor Bowman) will deliver speeches next week, potentially influencing market expectations for monetary policy.
Key Events Next Week
May 25
Binance Alpha will list Solstice (SLX) on May 25;
On-chain identity project Phi to cease operations on May 25;
May 28
Cosmos ecosystem Leap Wallet announces closure, full shutdown on May 28;
May 29
CME Group to launch 24/7 crypto futures and options trading on May 29;
May 31
Crypto media outlet DL News to suspend operations at end of this month;
Others (Date TBD)
Polymarket to launch "Taker Fee Rebate Program" next week, up to 50% rebate;
Fed Updates
- May 28 (Thursday) 20:55, FOMC permanent voter and New York Fed President John Williams delivers a keynote speech at a conference co-organized by the Central Bank of Iceland;
- May 28 (Thursday) 22:15, 2028 FOMC voter and St. Louis Fed President Alberto Musalem delivers a speech;
- May 29 (Friday) 18:50, 2028 FOMC voter and Kansas City Fed President Jeffrey Schmid delivers a speech;
- May 29 (Friday) 21:10, Fed Governor Michelle Bowman delivers a speech.
From May 25 to May 31, details of more noteworthy industry events are previewed as follows.
May 25
Binance Alpha will list Solstice (SLX) on May 25
Binance Wallet posted on X, stating that Binance Alpha will list Solstice (SLX) on May 25. Eligible users can claim the airdrop using Alpha points on the Alpha page once trading opens. More details will be announced soon.
Curve Finance to undergo database upgrade maintenance on May 25, frontend UI will be affected
Curve Finance announced it will perform database upgrade maintenance on May 25 at 9:00 AM Central European Summer Time (CEST). The maintenance is expected to last approximately 20 minutes to 1 hour. During this period, the Curve frontend interface will be temporarily inaccessible, but the underlying smart contracts will continue to operate normally, unaffected in core protocol functions.
The Beacon: Season 1 activity to go live on May 25, rewards exceeding 7.7 million BCN
The Beacon stated on X that Season 1 "Goblin's Gambit" will go live on May 25 at 16:00 UTC, with total rewards exceeding 7.7 million BCN tokens. Users can earn BCN token rewards by participating in the game.
On-chain identity project Phi to cease operations on May 25
The on-chain identity project Phi announced on X that it will cease operations on May 25. The PHI token will remain and continue trading on Aerodrome, but liquidity is expected to gradually decline. The Phi team advises users to claim rewards, unstake, and withdraw assets in advance.
May 26
Members of the Korean Digital Asset Association to delist RESOLV on May 26
Members of the Korean Digital Asset Association (DAXA), including Upbit, will delist the RESOLV spot trading pair on May 26.
May 27
Binance to delist ATA, FARM, MLN, PHB, SYS on May 27, 2026
According to an official announcement, Binance will stop trading and delist the following tokens on May 27, 2026, at 03:00 UTC: Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), Syscoin (SYS). The corresponding spot trading pairs will be removed, and all orders will be automatically canceled. Trading bot services will terminate simultaneously. Binance advises users to adjust or cancel their trading bots before the relevant deadlines to avoid potential losses.
May 28
Cosmos ecosystem Leap Wallet announces closure, full shutdown on May 28
Leap Wallet, a non-custodial wallet in the Cosmos ecosystem, announced it will cease operations, planning a full shutdown of its products and services on May 28.
The scope of this shutdown includes the browser extension, iOS and Android mobile apps, web application, Swapfast trading feature, and Cosmos Hub validator node services.
Launched initially in 2021 with a grant from Terraform Labs, Leap transitioned into a multi-chain wallet after the collapse of the Terra ecosystem, supporting over 100 blockchain networks.
The team reminds users who have delegated ATOM to Leap's validator node to redelegate to other nodes as soon as possible to avoid interruption of staking rewards and consider the unbonding period impacts.
The project states that despite closing the product, it remains optimistic about the long-term development of the crypto industry and the cross-chain ecosystem.
May 29
CME Group to launch 24/7 crypto futures and options trading on May 29
According to market sources, CME Group will launch 24/7 cryptocurrency futures and options trading on May 29.
May 30
X Product Lead: X platform Community feature to migrate to XChat group chats, transition deadline extended to May 30, group chat size planned to support up to 1000 members
X Product Lead Nikita Bier stated on X, "Today, we are announcing two product changes for Communities on X:
XChat now supports joinable links for group chats. Create a public link and share it directly to the timeline. Each chat supports 350 members (and growing). Group chat links are the fastest way to bring people together on X.
Due to declining usage, we will be deprecating X Communities on May 6th. To migrate your community members, pin your group chat link so people can join over the next 2 weeks. This is part of our broader effort to simplify the X experience. Don't get it twisted: we are heavily investing in niche communities with the rollout of Custom Timelines—and more to come."
Subsequently, he added that based on user feedback, to allow sufficient migration time, the transition period has been extended to May 30; the group chat limit will also be increased to 500 members tomorrow, with a target of reaching 1000 members in the coming weeks. This should cover all but a few communities on X.
May 31
Crypto media outlet DL News to suspend operations at end of this month
Crypto-focused media outlet DL News announced it will suspend operations at the end of this month.
Others (Date TBD)
Polymarket to launch "Taker Fee Rebate Program" next week, up to 50% rebate
Polymarket team member Mustafa stated on X that the "Taker Fee Rebate Program" will be launched next week, where users who take orders directly can receive up to a 50% fee rebate.
According to data disclosed by Mustafa, to qualify for the taker fee rebate, a user's weighted trading volume over the past 30 days must exceed $2,000. To trigger the highest tier (50%) taker fee rebate, the weighted trading volume over the past 30 days must exceed $10 million.
Bankr: Expects to restore all functions by next week, trading features remain suspended
Bankr posted on X, stating that the team is actively continuing investigations and remediation work with external partners like zeroShadow. It expects to restore all functions by next week after completing additional security reviews and monitoring measures.
Bankr stated that it may gradually restore token issuance and some "read-only" features in the short term, allowing users to view balances and other account information. However, wallet transaction functions, including swaps and transfers, will remain suspended during the review period.
Previously, Bankr disclosed that an attacker had gained access to 14 Bankr wallets. The platform subsequently suspended related functions and promised to fully compensate users for their losses.
