24H Hot Coins & Headlines | Ondo Founder Passes Away; US-Iran Ceasefire Agreement to be Extended for 60 Days (May 26)
- Key Takeaways: The market is exhibiting a divergent trend today, with tokens like NEAR and PHA leading the gains, while major coins such as BTC and ETH saw slight declines. Industry dynamics focus on the passing of Ondo's founder, Indonesia's ban on Polymarket, Tether's launch of an official stablecoin for Georgia, and Ethereum reaching new lows in transaction count and fees.
- Key Elements:
- Among popular coins on CEXs, major coins like BTC, ETH, and SOL are broadly declining, while NEAR and TRX are rising. PHA leads with a 23.98% gain, and NEAR is up 14.56%.
- Ondo Finance founder Nathan Allman has passed away. President Ian De Bode will succeed him as CEO, and the company will continue to advance his unfinished vision for financial technology.
- Indonesia has banned the prediction market platform Polymarket, classifying it as an illegal online gambling site because it offers bets on unresolved events, which violates local laws.
- Tether has partnered with the Georgian government to launch an official stablecoin, GEL₮, marking one of the first joint projects to digitize a national currency under the country's regulatory framework.
- Ethereum's monthly transaction count exceeded 70 million, setting a new all-time high, while the median transaction fee dropped to a historic low of $0.00554, showcasing high efficiency and low costs.
- SlowMist has detected a cross-platform supply chain attack targeting crypto developers, involving over 34 malicious packages and focusing on crypto, DeFi, and Solana/Sui developers.
- Jihan Wu pointed out that the issue of solar power oversupply in Europe is worsening. Bitcoin mining can serve as a flexible load, acting as a “last buyer” for electricity, which helps reduce curtailment and improve project profitability.
1. Popular Coins on CEX
CEX Top 10 Trading Volume and 24-Hour Changes:
- 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%
24-Hour 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%
24-Hour 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 Meme Coins On-Chain (Data Source: GMGN):
- Solana: HOPPY, RICH
- BNB: World Cup, Backhand 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 passed away. The announcement stated that Nathan Allman's vision, leadership, and technical vision profoundly shaped Ondo's development, and he always believed that technology could build a more open and accessible financial system.
Simultaneously, Ondo announced that long-time President Ian De Bode will succeed as CEO. The announcement noted 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 it will continue to advance the unfinished work of Nathan Allman.
US-Iran Ceasefire Agreement Extended by 60 Days, Strait of Hormuz Returns to Normal Navigation
The ceasefire agreement between the United States and Iran reached in early April will be extended by 60 days. Ships from all countries will be able to navigate freely and safely as they did before the strait was closed. (Jinshi)
South Korea's KOSPI Index Reaches 8,100 Points, Renewing All-Time High
According to Gate data, South Korea's KOSPI index reached 8,100 points, renewing its all-time high, with an intraday increase of 3.24%.
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 events, cryptocurrency price targets, or news. 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 uncapped returns. A service fee is charged for each transaction, and a redemption tax applies when selling.
This feature is open to all verified Binance Wallet users, and may be unavailable in some restricted regions.
Industry News
Tether: Official Stablecoin GEL₮ Launched in Partnership with the Georgian Government
Tether announced the launch of GEL₮, the official stablecoin for the Georgian Lari, in partnership with the Georgian government. This is one of the first joint efforts to place a national currency directly on a digital asset track under a specially built stablecoin regulatory framework. Georgian Prime Minister Irakli Kobakhidze stated that Georgia is laying the foundation for a more connected, transparent, and digitally empowered financial world with partners like Tether. Tether CEO Paolo Ardoino noted that stablecoins are becoming part of the global financial infrastructure, and Georgia has taken the lead in creating a regulatory framework for digital assets and stablecoins.
Hong Kong's Financial Secretary, Paul Chan, published a blog post stating that leveraging blockchain and AI technology is an inevitable trend for future financial development, but also brings tangible governance challenges, such as criminals and terrorists trying to exploit regulatory differences between countries for money laundering and fundraising. Hong Kong's principles, practices, and experience in digital asset development and regulation are ahead of Europe, leaving considerable room 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 published by an automated news feed software run by validators as part of their daily on-chain operations. Validators will vote on the deployment and settlement of official prediction markets based on factors such as whether the rules are clear, whether the outcomes are correct, and market quality.
Indonesia's Ministry of Communication and Digital recently blocked the prediction market platform Polymarket, labeling it an online gambling platform for offering bets and speculation on unsettled events, violating local laws. Previously, Polymarket launched a market for betting on when President Prabowo Subianto would leave office, whose term is originally set until 2029. The contract was launched the day after Prabowo announced plans to centrally control the export of bulk commodities like coal and palm oil, sparking discussions 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. Now, 45.9 billion WLFI tokens have been transferred to the unlock contract, a progress rate of 73.8%, with a total value of $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 earlier this month.
XRPL Developer Warns XRP Community of Scams Involving Fake Wallets and Airdrops
XRPL developer Wietse Wind issued a new security warning to the XRP community, stating that fraudulent activities targeting Xaman Wallet users are increasing. According to him, scammers are currently promoting fake desktop wallet applications and counterfeit airdrop campaigns to trick users into connecting their wallets or downloading malicious software, thereby stealing funds. Wietse Wind reminds users not to connect their wallets to suspicious websites or download any unofficial applications to avoid asset losses.
OKX Ventures cited Token Terminal data on X platform, stating that Ethereum's monthly transaction count has exceeded 70 million, setting a new all-time high. Simultaneously, the median transaction fee on the network has dropped to approximately $0.00554, also setting a new all-time low. This indicates that Ethereum is gradually achieving a network state characterized by "high efficiency and low cost."
Prediction market platform Kalshi announced support for the formation of a new prediction market lobbying group, Americans for Fair Markets, and appointed former Trump administration White House Deputy Chief of Staff Taylor Budowich as a strategic advisor. The organization will combat the sports betting and casino industries, which it believes are trying to "maintain a monopoly and spread misinformation about prediction markets to policymakers."
Funding
SoftBank Issues Another ¥260 Billion Subordinated Debt to Fund AI Investments
SoftBank Group plans to issue another subordinated bond to individual investors, raising ¥260 billion ($1.6 billion), just about two months after its previous bond offering to retail investors. According to documents released on Monday, the bonds have a 35-year maturity and include an issuer call option after 5 years. The bonds will be priced on June 5, with an initial 5-year coupon guidance range of 4.8%-5.6%.
People & Voices
ETF Store President: Stablecoins Are Not the Real Source of Economic Risk
ETF Store President Nate Geraci quipped on X platform, "Stablecoins are apparently the economic risk." He stated that compared to inflation, escalating geopolitical tensions, and rising government and private debt, the market views stablecoins as a source of risk, "You really couldn't make this stuff up."
Strategy CEO: Putting $250,000 into STRC Yields 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 mortgage, he invested $250,000 into STRC, which provides him with 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 launched the attack by publishing malicious packages on npm, PyPI, and Crates.io. The attack campaign involved over 34 malicious packages and more than 384 related versions, targeting communities including crypto, DeFi, Solana, Sui/Move, and AI developers.
Potential attacker activities include stealing crypto wallets, SSH keys, cloud credentials, GitHub/AWS tokens, browser data, environment variables, and developer keys. Some payloads also attempted to establish 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 a recent analysis from energy research firm Pexapark, he noted that solar 'self-cannibalization' in Europe is rapidly worsening: 1. France's April 2026 solar capture factor dropped year-on-year from about 0.42 to 0.10, a decline of approximately 75%, with nearly half of solar generation occurring during negative price hours; 2. Germany experienced 123 hours of negative electricity prices in April, a 65% increase year-on-year, with about 46.8% of solar generation occurring in negative price zones; 3. Spain's problem is no longer limited to summer, with the February 2026 solar capture factor plummeting from about 0.71 in the same period last year to 0.18, and negative price hours soaring from 0 hours to 148 hours.
Jihan Wu pointed out that this indicates the pace of solar deployment in Europe has outstripped the speed of building grid system flexibility. In addition to 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 excess renewable energy, reducing curtailment, improving solar project revenues, and enhancing the profitability and financing viability of power generation and grid infrastructure investments.
