Canaan has achieved a record fleet efficiency of 17.9 J/TH in North America even as roughly 36% of its installed mining capacity remained inactive at the end of May.

According to a June operational update from Canaan, the Nasdaq-listed Bitcoin miner and ASIC manufacturer improved the efficiency of its North American self-mining operations to 17.9 joules per terahash in May 2026, setting a new company record and improving 11% from the same period last year.

The latest figure also represents progress from the 18.7 J/TH reported across the company’s North American non-joint venture operations in March and April. Based on Canaan’s disclosed data, the move from 18.7 J/TH to 17.9 J/TH amounts to an improvement of about 4% in two months.

At the same time, company data showed that operational activity remained below installed capacity. Canaan reported an installed hashrate of 10.05 EH/s at the end of May, while its effective operating hashrate stood at 6.47 EH/s. The company attributed the gap to the expiration of a hosting agreement.

Fleet upgrades continue to improve mining performance

Beyond North America, Canaan reported that its global mining fleet reached an average efficiency of 23.7 J/TH during May, representing a 13.5% improvement from a year earlier.

Production figures also moved higher. Company data showed that Canaan mined 90 Bitcoin during the month and received another 24 BTC from customers. As a result, its digital asset holdings increased to approximately 1,867 BTC and 3,952 ETH, the largest treasury balance disclosed by the company to date.

Commenting on the results, Canaan chairman and chief executive Nangeng Zhang described the May performance as evidence of resilience despite difficult market conditions.

The efficiency gains arrive only weeks after Canaan reported weak first-quarter financial results. As crypto.news reported earlier, the company generated $62.7 million in revenue during Q1 2026, down sharply from $196.3 million in the previous quarter. Canaan also posted a net loss of $88.7 million and recorded a gross loss of $22.9 million, which included a $25 million inventory write-down.

In the company’s May 19 earnings release, Zhang said Canaan faced Bitcoin price volatility, compressed hashprice conditions, elevated energy costs, and weather-related disruptions in North America during the quarter.

Capacity expansion offsets hosting-related setbacks

While a portion of the company’s fleet remained offline, Canaan continued adding new infrastructure through acquisitions and partnerships.

According to the company, a transaction with Cipher Mining added a 49% stake in several West Texas projects. The deal contributed approximately 4.4 EH/s of hashrate capacity and 120 megawatts of power capacity to Canaan’s development pipeline.

Investors, however, continue to weigh operational improvements against ongoing financial challenges. As previously reported by crypto.news, Canaan received a second Nasdaq non-compliance notice in January after its share price remained below the exchange’s $1 minimum bid requirement. The company has until July 13, 2026, to regain compliance.

Market expectations for the current quarter also remain subdued. In its first-quarter earnings report, Canaan guided for second-quarter revenue between $35 million and $45 million, substantially below analyst estimates of about $96 million.

The company said it would continue monitoring market conditions and policy developments and could revise its outlook as visibility improves.

“Beyond our mining operations, we continue to advance initiatives that demonstrate the broader potential of our infrastructure platform…As demand for AI and computing infrastructure continues to grow, we believe Canaan’s strengths in hardware innovation and energy-efficient systems make us well-positioned to unlock new opportunities where energy and computing can create value together,” said Zhang.

Exodus has launched “Exodus Markets,” a new marketplace for trading tokenized real-world assets directly from its self-custody wallet. Through a partnership with Ondo Finance, eligible users can access trading for more than 200 tokenized stocks, ETFs and other real-world assets on Solana, following an app update.

In the company’s announcement, Exodus Markets is described as not granting ownership of the underlying securities and not providing shareholder rights. The firm said availability is limited to select markets, and Cointelegraph reported it had not received a response from Exodus regarding which jurisdictions are eligible by the time the article was published.

Key takeaways

• Exodus Markets brings tokenized stocks, ETFs and other real-world assets into Exodus’ wallet experience on Solana.
• Ondo Finance is the issuer partner behind the initial catalog, covering 200+ tokenized assets.
• No shareholder rights: Exodus says tokenized assets traded on the marketplace do not represent ownership of underlying securities.
• Availability is restricted: Exodus Markets is live only in select markets, though eligible jurisdictions weren’t confirmed at publication.
• Tokenized equities are accelerating, with RWA.xyz data citing rapid growth in total tokenized stock value and holder count.

Inside Exodus’ Solana tokenized asset rollout

Exodus, founded in 2015, is known for its self-custody crypto wallet software. With Exodus Markets, the company is moving beyond a traditional token trading interface by adding exposure to tokenized real-world assets—specifically tokenized equities and similar instruments—settled on Solana.

Exodus said the marketplace is accessible after users update to the latest version of the Exodus app. That matters for investors and active wallet users because it lowers friction: rather than using a separate tokenized asset venue, they can route trades through a single wallet workflow.

At the same time, Exodus’ own framing emphasizes a key legal and structural point: tokenized assets made available via Exodus Markets do not represent ownership of the underlying securities and do not confer shareholder rights. For users, this signals that the products behave more like tokenized claims/representations governed by the issuer’s structure than as direct, conventional equity ownership.

RWA growth continues—xStocks becomes the gravity well

The Exodus launch arrives as tokenized equities continue to expand quickly. According to RWA.xyz data cited by Cointelegraph, tokenized stocks have climbed to $3.5 billion, up more than 139% over the past 30 days. Over the same period, RWA.xyz reported the number of holders increased 37% to roughly 357,000.

The same data points to xStocks as a major driver. RWA.xyz shows xStocks accounts for approximately $2.5 billion in tokenized stock value—more than 69% of the sector—after growing more than 500% over the previous month.

That concentration matters for anyone evaluating tokenized equity adoption: as one platform scales faster than the rest, liquidity, product diversity, and user distribution can become increasingly path-dependent. If xStocks continues to attract issuance and listings, Exodus Markets’ ability to deliver an attractive selection may depend on how much of the tokenized equity “center of gravity” remains concentrated there.

Tokenized pre-IPO momentum—and the first friction signals

Beyond established tokenized stocks, the market has recently broadened into pre-IPO activity. Cointelegraph reported that crypto exchanges have been racing to offer tokenized exposure to SpaceX ahead of the company’s stock debut.

In that wave, Kraken said SpaceX would be the first company available via its xStocks IPO Access platform, while Bybit later announced it would also offer SpaceX through xStocks as the inaugural listing on a new tokenized equity platform. Meanwhile, Binance entered the category in May with perpetual futures tied to SpaceX’s expected pre-IPO valuation, and Coinbase launched pre-IPO markets in June with a SpaceX-linked perpetual futures product for eligible users outside the United States.

Cointelegraph also noted Blockchain.com’s roll-out of a SpaceX-linked perpetual contract through its OTC desk as part of a new 24/7 institutional trading platform.

However, the rollout wasn’t frictionless. Cointelegraph reported that Bybit announced subscribers to its SpaceX IPO offering would receive refunds after xStocks failed to secure the underlying shares needed to fulfill allocations. The episode is a reminder that tokenized pre-IPO products can be constrained by real-world supply and allocation mechanics—an issue tokenized wrappers cannot fully eliminate.

What investors should watch next

With Exodus Markets now live for eligible users, the immediate open questions are regulatory and operational: which jurisdictions are supported, how large the initial catalog becomes over time, and whether the marketplace’s tokenized equity access stays resilient during periods when underlying allocation conditions tighten—as seen in the SpaceX refund episode. Readers tracking the trend should focus on product availability by region and on ongoing issuer/venue coverage as tokenized equities keep scaling.

A Seychelles court judgment tied to delisted CHP tokens has placed KuCoin under renewed legal scrutiny.

A Swiss investor claims the exchange has not paid a court-ordered award exceeding $2 million. The dispute centers on 21 million CHP tokens and a ruling issued by the Seychelles Supreme Court in December 2025.

Court ruling centers on delisted CHP tokens

According to reports, the Seychelles Supreme Court ruled against KuCoin in December 2025. The case involved 21 million CHP tokens that remained on the platform after delisting. The court rejected the view that unwithdrawn tokens automatically become abandoned property. Instead, the ruling treated the tokens as obligations owed to the investor. The decision ordered compensation exceeding $2 million.

The investor alleges that KuCoin has not complied with the judgment. Six months after the ruling, the award reportedly remains unpaid. The investor also claims the exchange has not participated in related proceedings. According to the allegations, KuCoin has not responded to requests concerning the case. Public records cited in reports have not shown payment of the judgment.

The dispute has drawn attention because KuCoin operates through Seychelles-based entities. The ruling came from the same jurisdiction where parts of the exchange maintain legal incorporation. The case now focuses on whether local court decisions can compel action from global crypto platforms. Legal enforcement remains a central issue in the ongoing dispute. The investor continues seeking recovery through available legal channels.

Investor challenges exchange treatment of delisted assets

The CHP dispute stems from how exchanges handle delisted digital assets. Many trading platforms remove tokens when activity declines or compliance concerns emerge. Users often receive a withdrawal period before support ends. The Seychelles ruling addressed what happens after those deadlines pass. The court determined that the CHP holdings retained legal value.

According to reports, KuCoin argued that unwithdrawn CHP tokens became abandoned after delisting. The court did not accept that position. Instead, it linked the assets to financial obligations owed by the exchange. The decision established a legal distinction between delisting and ownership rights. That interpretation formed the basis of the compensation order.

The case has also focused attention on exchange terms of service. Many platforms include provisions covering inactive or unsupported assets. However, legal treatment can vary across jurisdictions. The CHP ruling addressed one specific dispute under Seychelles law. Other courts may assess similar issues under different legal frameworks.

Enforcement questions remain unresolved

The investor now faces the challenge of enforcing the judgment. Reports indicate that Seychelles courts have limited reach over globally distributed assets. Recovery efforts may require identifying exchange-linked assets in other jurisdictions. 

Enforcement procedures can depend on local recognition of foreign judgments. Those steps can take time and involve additional legal proceedings. The CFTC and other regulators have recently increased attention on cross-border crypto platforms. 

At the same time, court disputes continue emerging in multiple jurisdictions. The KuCoin matter adds another legal challenge involving exchange accountability. The investor maintains that the judgment remains unpaid. KuCoin has not publicly addressed the allegations described in the reports.

Grayscale Investments has filed an amended registration statement for its proposed spot NEAR ETF.

The update introduces custody changes and revised disclosures tied to the NEAR Protocol ecosystem. The filing arrives as investor interest in artificial intelligence-linked crypto assets increases following SpaceX’s public market debut.

Grayscale revises NEAR ETF registration

According to the amended S-1 filing submitted on June 12, Grayscale updated its earlier registration statement. The revision follows the trust’s original filing submitted in January. The latest version includes SEC Registration No. 333-292834, which did not appear in the previous filing. The amendment also contains compliance-related updates and additional disclosures. Grayscale continues seeking approval for a spot ETF tied to NEAR.

The filing introduces changes to the fund’s custody structure. Earlier documents listed Coinbase Custody Trust Company as the sole custodian. The amended filing names BitGo Bank & Trust N.A. as the primary custodian. Coinbase Custody will continue serving as an additional custodian. The revised structure expands the ETF’s custody arrangements while preserving Coinbase’s role.

The asset manager also revised language related to staking activities. The filing states that the trust may only provide staking-related exposure if U.S. law permits it. Grayscale confirmed that the trust, sponsor, and custodians do not currently stake NEAR tokens. The amendment provides clearer language regarding staking restrictions. Those disclosures form part of the updated registration package.

Filing updates NEAR ecosystem data

The amended filing also updates information about the NEAR Protocol network. According to the document, circulating supply reached 1.3 billion NEAR tokens as of March 31, 2026. The filing states that NEAR’s market capitalization stood at approximately $1.5 billion. It also reported a decline in the token’s market ranking. NEAR moved from 39th place to 43rd place during the period covered.

Grayscale also expanded legal and administrative disclosures within the filing. The amendment adds Davis Polk & Wardwell LLP attorney Dylan H. Lojac as legal counsel. The document includes formatting changes tied to regulatory compliance requirements. It also addresses a new checkbox related to emerging growth company elections. Those revisions accompany the broader registration update.

SpaceX IPO boosts attention on AI-linked crypto assets

The filing emerged as artificial intelligence-related crypto narratives regained market attention. Market participants have linked part of that renewed interest to SpaceX’s recent public listing. The aerospace company entered public markets with a valuation of about $1.77 trillion. The listing increased attention toward advanced technology themes across financial markets. AI-focused digital assets have received part of that attention.

NEAR has continued promoting infrastructure focused on decentralized artificial intelligence applications. The network has also developed tools for autonomous agent systems and related services. Those initiatives have placed the project among blockchain networks targeting AI use cases. Grayscale’s amended filing arrived as those themes gained renewed visibility. The updated registration statement now awaits further regulatory review.

Key Highlights

• SpaceX (SPCX) launched its public trading debut Friday in a record-shattering IPO that generated $75 billion at a share price of $135
• Elon Musk’s aerospace venture achieved a $1.77 trillion market valuation, potentially elevating him to trillionaire status
• Wall Street indices showed divergent movements at opening: Dow climbed 0.2%, S&P 500 hovered near unchanged, Nasdaq slipped 0.3%
• Emerging news of a provisional US-Iran diplomatic agreement sent crude oil tumbling, with Brent dropping up to 5%
• University of Michigan consumer confidence plummeted to a historic nadir of 44.8 in May, with updated figures anticipated Friday

Wall Street experienced range-bound trading Friday morning as market participants monitored a pair of significant developments: SpaceX’s highly anticipated public market entrance and emerging details of a possible diplomatic breakthrough between Washington and Tehran.

The Dow Jones Industrial Average advanced approximately 138 points, representing a 0.2% gain, during early market activity. The S&P 500 climbed 0.2% while the Nasdaq Composite settled flat following an initial 0.3% decline at the opening bell. Thursday’s session had delivered robust gains following President Trump’s announcement that US-Iran peace negotiations were approaching conclusion.

Trading under the symbol SPCX, SpaceX established its initial share price at $135 prior to Friday’s market launch. The aerospace manufacturer secured approximately $75 billion in capital, establishing a new benchmark as the largest initial public offering in financial history. The company’s projected market capitalization reaches $1.77 trillion.

With this valuation, Chief Executive Elon Musk stands positioned to achieve trillionaire status—a first in human history.

SpaceX has outlined ambitious plans to deploy artificial intelligence computing facilities in orbital space. Market analysts have set elevated expectations for the stock’s performance, noting that any underwhelming debut-day performance will likely trigger substantial questioning.

Industry observers view this offering as a crucial barometer for overall market health, particularly as equities have weathered significant volatility centered around artificial intelligence investments throughout recent sessions.

Crude Markets Retreat on Diplomatic Optimism

Oil prices experienced substantial declines Friday as market participants incorporated the likelihood of a Washington-Tehran accord. Brent crude contracts plummeted as much as 5% during early transactions, touching their weakest levels since March, before staging a partial recovery. West Texas Intermediate crude declined 2.8% to approximately $85.26 per barrel.

Emerging intelligence indicates the two nations are advancing toward an understanding that would reestablish passage through the Strait of Hormuz, a critical maritime corridor for global petroleum shipments. G7 leadership is scheduled to convene the following week, where the accord may receive formal endorsement.

Barclays analyst Emmanuel Cau noted that a verified US-Iran agreement would “eliminate a significant macroeconomic tail risk and facilitate additional market broadening and sector rotation.”

Consumer Confidence and Digital Assets Under Watch

Market observers awaited Friday’s release of the University of Michigan’s consumer confidence assessment. The May headline figure collapsed to an unprecedented low of 44.8, underscoring persistent economic anxieties among American households.

Bitcoin continued trading within established boundaries following modest gains earlier in the week.

Gold advanced more than 2.5% amid optimism surrounding the potential US-Iran diplomatic resolution, though the precious metal tracked toward a weekly decline.

Additional aerospace-focused equities captured investor attention. Rocket Lab alongside four companion firms were slated for Nasdaq 100 inclusion, providing additional momentum to the sector coinciding with SpaceX’s market entrance.

The convergence of the SpaceX public offering, retreating energy prices, and geopolitical developments provided markets with numerous significant catalysts to process entering the weekend period.