24H Hot Coins & Headlines | Ondo Founder Passes Away; US-Iran Ceasefire Agreement Extended by 60 Days (May 26)
- Key Takeaways: Today's market shows a divergent trend, with tokens like NEAR and PHA leading the gains, while major coins like BTC and ETH saw slight declines. Industry focus is on the passing of the Ondo founder, Indonesia banning Polymarket, Tether launching an official stablecoin in Georgia, and Ethereum hitting new lows in transaction count and fees.
- Key Elements:
- Among popular CEX coins, major coins like BTC, ETH, and SOL broadly declined, while NEAR and TRX rose. PHA led the gains with a 23.98% increase, and NEAR rose by 14.56%.
- Nathan Allman, founder of Ondo Finance, has passed away. President Ian De Bode has taken over as CEO, and the company will continue to advance his unfinished financial technology vision.
- Indonesia has banned the prediction market platform Polymarket, classifying it as an illegal online gambling platform. This is because it offers bets on unresolved events, violating local laws.
- Tether has partnered with the Georgian government to launch an official stablecoin, GEL₮, one of the first joint projects in the country to digitize its national currency under a regulatory framework.
- Ethereum's monthly transaction count exceeded 70 million, hitting a new all-time high, while the median transaction fee dropped to an all-time low of $0.00554, demonstrating high efficiency and low cost characteristics.
- SlowMist has detected a cross-platform supply chain attack targeting crypto developers, involving over 34 malicious packages. Targets include developers in crypto, DeFi, and Solana/Sui ecosystems.
- Wu Jihan pointed out that the issue of solar energy overcapacity in Europe is worsening. Bitcoin mining can act as a flexible load, serving as the "last buyer" of electricity, thereby reducing curtailment and improving project returns.
1. Hot Tokens on CEX
CEX Top 10 Trading Volume and 24h Change:
- BTC: - 0.50%
- ETH: - 0.45%
- SOL: - 1.28%
- XRP: - 0.75%
- BNB: + 0.02%
- ZEC: - 3.04%
- NEAR: + 14.56%
- TRX: + 1.67%
- DOGE: - 1.35%
- SUI: + 0.11%
24h Gainers List (Data Source: OKX):
- PHA: + 23.98%
- GRASS: + 15.49%
- NEAR: + 14.56%
- HMSTR: + 12.27%
- WLD: + 11.11%
- TIA: + 11.06%
- EIGEN: + 10.75%
- INJ: + 10.50%
- RENDER: + 9.11%
- TON: + 8.50%
24h Crypto-Stock Gainers List (Data Source: msx.com):
- BB.M: + 18.95%
- YSS.M: + 2.65%
- VSAT.M: + 2.17%
- VELO.M: + 2.08%
- USO.M: + 1.94%
- AMRK.M: + 1.88%
- SATS.M: + 1.78%
- QNTM.M: + 1.73%
- ORBS.M: + 1.62%
- GREE.M: + 1.60%
2. Trending Memes On-Chain (Data Source: GMGN):
- Solana: HOPPY, RICH
- BNB: World Cup, Backhanded Opossum
- Base: DEAL, FreeCode
Headlines
Ondo Founder Nathan Allman Passes Away; President Ian De Bode Appointed CEO
Ondo Finance announced that its founder, Nathan Allman, has sadly passed away. The statement noted that Allman's vision, leadership, and technical expertise profoundly shaped Ondo's development, and he always believed that technology could build a more open and accessible financial system.
Simultaneously, Ondo announced that Ian De Bode, who has long served as President, will succeed as CEO. The statement said that Ian has been responsible for the company's strategy, products, and daily operations for over two years and has the full support of the management team. Ondo stated its commitment to continuing Nathan Allman's unfinished work.
US-Iran Ceasefire Agreement Extended by 60 Days; Strait of Hormuz Resumes Normal Navigation
The ceasefire agreement between the US and Iran, reached in early April, will be extended by 60 days. Ships of all nations will be able to navigate freely and safely, just as before the strait closure. (Jin Shi)
South Korea's KOSPI Index Surpasses 8,100 Points, Hitting Another All-Time High
According to Gate data, South Korea's KOSPI Index surpassed the 8,100-point mark, setting a new all-time high, up 3.24% on the day.
Binance Wallet Launches Event Rush, Supporting Tokenized Trading of Real-World Events
Binance Wallet has launched a new feature, EventRush, allowing users to trade outcome tokens for real-world events such as sports matches, cryptocurrency price targets, or news stories. This feature is powered by the 42.space protocol on the BNB Chain. Users can purchase event tokens using USDT on BSC and sell them at any time before the event ends or hold them until settlement. Winners share the entire prize pool with unlimited upside. A service fee is charged for each transaction, and a redemption tax applies when selling.
The feature is open to all verified Binance Wallet users, though availability may be restricted in certain regions.
Industry News
Tether Partners with Georgian Government to Launch Official Stablecoin GEL₮
Tether announced a partnership with the Government of Georgia to launch GEL₮, the official stablecoin pegged to the Georgian Lari. This is one of the first joint efforts to place a national currency directly onto digital asset rails under a specifically constructed stablecoin regulatory framework. Georgian Prime Minister Irakli Kobakhidze stated that Georgia, along with partners like Tether, is laying the foundation for a more connected, transparent, and digitally empowered financial world. Tether CEO Paolo Ardoino commented that stablecoins are becoming part of the global financial infrastructure, and Georgia has taken a leading role in creating a regulatory framework for digital assets and stablecoins.
Hong Kong's Financial Secretary, Paul Chan, published a "Secretary's Blog" stating that leveraging blockchain and AI technology is an inevitable trend for future financial development. However, it also brings tangible governance challenges, such as criminals and terrorists attempting to exploit regulatory differences between jurisdictions for money laundering and fundraising. Hong Kong's principles, practices, and experience in digital asset development and regulation are ahead of Europe's, offering significant potential for cooperation and mutual learning. This can not only promote the healthy development of the industry but also contribute to global governance.
Project News
Hyperliquid Now Supports Official Prediction Markets Based on Off-Chain Events
Hyperliquid announced that it now supports canonical outcome markets based on off-chain events. According to the introduction, relevant markets will be deployed by automated newsfeed software run by validators as part of daily on-chain operations. Validators will vote on the deployment and settlement of canonical outcome markets based on factors such as rule clarity, outcome correctness, and market quality.
Indonesia Blocks Prediction Market Platform Polymarket, Classifies it as Illegal Online Gambling
Indonesia's Ministry of Communication and Digital recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform because it offers betting and speculation on unresolved events, violating local laws. This follows Polymarket listing a market on when President Prabowo Subianto would leave office, despite his term originally running until 2029. The contract was listed the day after Prabowo announced plans to centralize control over exports of commodities like coal and palm oil, sparking discussion on local social media. Indonesian authorities also stated they are investigating all social media accounts related to Polymarket.
According to on-chain analyst Ai Yi's monitoring, the WLFI unlock activation portal has been open for two weeks. A total of 45.9 billion WLFI tokens, representing 73.8% of the total, have been transferred to the unlock contract, valued at $2.81 billion. The WLFI team and related stakeholders have burned 3.2 billion WLFI tokens, worth $194 million. WLFI is currently priced at $0.06137, up 18% from its low at the beginning of the month.
XRPL Developer Warns XRP Community About Scams Involving Fake Wallets and Airdrops
XRPL developer Wietse Wind issued a latest security warning to the XRP community, stating that scam activities targeting Xaman Wallet users are increasing. According to him, scammers are currently promoting fake desktop wallet applications and fraudulent airdrop campaigns to induce users to connect their wallets or download malicious software to steal funds. Wietse Wind reminded users not to connect their wallets to suspicious websites or download any unofficial applications to avoid asset loss.
OKX Ventures cited Token Terminal data on X platform, indicating that Ethereum's monthly transaction count has surpassed 70 million, setting a new all-time high. Simultaneously, the network's median transaction fee has dropped to approximately $0.00554, also hitting a new all-time low. This suggests that Ethereum is gradually achieving a network state characterized by "high efficiency and low cost."
Prediction market platform Kalshi announced its support for the formation of a new prediction market lobbying organization, Americans for Fair Markets. Former Trump White House Deputy Chief of Staff Taylor Budowich has been appointed as a strategic advisor. The organization will oppose the sports betting and casino industries, which it accuses of trying to "maintain a monopoly and spread misinformation about prediction markets to policymakers."
Funding & Investment
SoftBank Raises Another ¥260 Billion in Subordinated Bonds for AI Investment
SoftBank Group plans to raise ¥260 billion ($1.6 billion) from individual investors again through a subordinated bond issuance, just two months after its previous bond sale to retail investors. According to documents disclosed on Monday, the bonds have a 35-year term and include an issuer call option after 5 years. The bonds are set to be priced on June 5th, with an initial 5-year coupon guidance range of 4.8%-5.6%.
People & Quotes
ETF Store President: Stablecoins Are Not a Real Source of Economic Risk
Nate Geraci, President of ETF Store, joked on X platform, "Stablecoins are clearly the economic risk." He commented that despite inflation, escalating geopolitical tensions, and rising government and private debt, the market seems to view stablecoins as the risk source, adding, "You couldn't make this stuff up if you tried."
Strategy CEO: Invested $250,000 in STRC, Yield is 10 Times My Mortgage Rate
Strategy CEO Phong Le stated that he holds a 30-year mortgage with a 1.75% interest rate. Instead of repaying the loan, he invested $250,000 into STRC, which pays him an 11.5% yield, equivalent to 10 times his mortgage rate.
According to SlowMist monitoring, MistEye detected a cross-registry supply chain attack targeting developers. The attacker distributed malicious packages via npm, PyPI, and Crates.io. The campaign involves over 34 malicious packages and more than 384 related versions, targeting communities including crypto, DeFi, Solana, Sui/Move, and AI developers.
Potential attacker behaviors include stealing crypto wallets, SSH keys, cloud credentials, GitHub/AWS tokens, browser data, environment variables, and developer keys. Some payloads also attempt persistence via cursorrules, CLAUDE.md, Git hooks, Shell hooks, cron, systemd, and SSH.
Jihan Wu posted on X platform, stating that Europe's current solar energy problem is no longer just about increasing generation but a lack of sufficient flexible electricity demand to absorb excess energy. Citing the latest analysis from energy research firm Pexapark, he noted that the "self-cannibalization" phenomenon of European solar power is rapidly deteriorating: 1. France's April 2026 solar capture factor dropped year-on-year from around 0.42 to 0.10, a decline of about 75%, with nearly half of solar generation occurring during negative electricity price hours. 2. Germany experienced 123 hours of negative electricity prices in April, a 65% year-on-year increase, with approximately 46.8% of solar generation occurring during negative price periods. 3. Spain's problem is no longer limited to summer; its solar capture factor in February 2026 plummeted from around 0.71 in the same period last year to 0.18, while negative price hours jumped from 0 to 148 hours.
Jihan Wu pointed out that this indicates the pace of solar deployment in Europe has exceeded the speed of grid system flexibility buildout. Besides energy storage, grid expansion, and demand response, Europe should also pay attention to interruptible loads, including Bitcoin mining and other computing loads. Such loads can be activated when electricity is abundant and shut down when the grid is strained, thus acting as a "buyer of last resort" for surplus renewable energy. This can reduce curtailment, improve solar project returns, and enhance the profitability and financing viability of power generation and grid infrastructure investments.
