Crypto World
Myanmar Military Regime Proposes Life Sentence for Crypto Scammers
Myanmar’s military authorities have published the text of an Anti-Online Fraud Bill that would impose severe penalties on digital currency fraud and online scam operations. The draft statute, presented to the Pyidaungsu Hluttaw, frames online fraud as a threat to national sovereignty and stability and contemplates punishments ranging from long prison terms to the death penalty for certain offenses.
According to Cointelegraph, the proposed legislation sets out that individuals convicted of “digital currency fraud” or related online fraud could face a sentence of 10 years to life imprisonment, with the possibility of capital punishment in specified circumstances. The bill also delineates the death penalty for those implicated in the operation of scam centers or for actions that resulted in the death of a victim coerced or exploited into committing fraud. The government has underscored the aim of curbing organized online fraud networks that have proliferated in parts of Southeast Asia.
The seriousness of the penalties places Myanmar among the most draconian regimes globally for digital currency–related crime. The move comes as authorities in the region contend with what they describe as increasingly sophisticated scam infrastructure. In January, China reportedly ordered the execution of 11 people linked to Myanmar-based scam centers that trafficked Chinese nationals, underscoring cross-border law-enforcement stakes in tackling these operations. Source: Al Jazeera.
As part of its broader focus on combatting scam networks, international authorities have intensified cooperation to dismantle illicit operations that use schemes such as pig-butchering, romance scams, and fake investments to launder funds and traffic victims. The FBI noted in a report released in April that Americans suffered more than $11 billion in losses from crypto-related scams in 2025, with total online-fraud losses exceeding $20 billion. The agency cited a March executive order from the White House aimed at bolstering federal efforts to combat scam centers and cybercrime. FBI report (Cointelegraph summary), Executive action overview.
The Myanmar government has been under international scrutiny since the 2021 coup, after which parliamentary sessions were suspended for years and did not reconvene until March 2026 following elections described by the Council on Foreign Relations as “neither free nor fair.” A government notice published midweek indicated that lawmakers would reconvene in the first week of June, with the bill potentially on the agenda for consideration. CFR analysis.
Key takeaways
- Draconian penalties: The bill contemplates 10 years to life imprisonment for digital currency and online fraud offenses, including the potential for the death penalty in certain cases.
- Targeted offences: Provisions cover digital currency fraud and operations tied to scam centers, with enhanced penalties for those involved in coercing or exploiting victims to commit fraud.
- Policy rationale: Authorities frame the measure as essential to protecting sovereignty and stability amid widespread online fraud networks.
- Regional enforcement context: The move aligns with a broader Southeast Asian crackdown on scam centers, amid cross-border actions and international pressure to curb crypto-enabled crime.
- Regulatory landscape for crypto entities: The development has implications for crypto exchanges, banks, and service providers operating in or with Myanmar, underscoring heightened AML/KYC and licensing considerations in a volatile legal environment.
Myanmar’s bill in context: penalties, centers, and cross-border implications
The Anti-Online Fraud Bill sets a framework in which digital currency and online scams are treated as grave offenses with severe penalties. By tying the most extreme punishments to crimes related to scam centers and coercive manipulation, the proposal signals a hard-line stance against organized scams that authorities say exploit vulnerable individuals. The text and its language emphasize a governance objective—protecting sovereignty and stability—amid a political transition marked by controversy and international scrutiny.
International reporting underscores that this is not an isolated domestic policy move. The region has seen a surge in scam centers that traffic people and funds under crypto-enabled schemes, prompting a broader enforcement push. The China-based retaliation against Myanmar-linked scam operations—where authorities reportedly executed 11 individuals connected to trafficking networks—illustrates the potential for cross-border criminal activity to trigger parallel enforcement actions across jurisdictions. Such developments raise critical questions for compliance teams and financial institutions about screening, risk assessment, and the handling of cross-border payments and correspondent relationships in contexts where criminal enterprises leverage cryptocurrency and online platforms.
From a regulatory perspective, the Myanmar bill intersects with ongoing global efforts to constrain illicit crypto activity. In the United States, federal authorities have intensified investigations into crypto scams, with law-enforcement “strike forces” targeting leaders of scam networks, including cross-border actors linked to organized crime groups operating in Southeast Asia. The FBI’s findings, reported by Cointelegraph, highlight the ongoing risk of large-scale losses to consumers and the importance of robust AML/KYC programs for firms that facilitate or process crypto-related transactions. The White House’s March executive action reinforces the federal mandate to pursue cybercrime and predatory schemes, signaling a high-priority enforcement trajectory for the coming years. FBI report (Cointelegraph coverage), Executive action summary.
For institutions operating in or with Myanmar, the bill amplifies the regulatory risk calculus. Even if the measure advances slowly through the Pyidaungsu Hluttaw, the prospect of stringent penalties for crypto-related fraud signals a tightening of licensing expectations and compliance controls. Cross-border enforcement efforts and cooperation with international partners further complicate the landscape, as firms must navigate divergent regulatory regimes and potential sanctions in areas impacted by scam centers or illicit financial activity. In this context, regulators and compliance teams should monitor developments closely, assess exposure in customer onboarding and transaction monitoring, and prepare for potential licensing or reporting changes that could emerge from the new bill or subsequent implementing regulations.
Historical and policy backdrop shaping the debate
The bill’s emergence occurs against a backdrop of political upheaval and a shifting regional security–economic order. Myanmar’s 2021 coup disrupted normal legislative processes and delayed parliamentary action, with observers noting that subsequent elections did not meet commonly accepted standards for free and fair process. As authorities propose top-tier penalties for online crimes, analysts and policymakers are weighing the balance between deterrence, due process, and the implications for civil liberties within a fraught governance environment. The convergence of domestic security priorities with international pressure to combat trafficking, crypto-enabled scams, and cross-border crime underscores the challenge of implementing consistent, enforceable policies in a fragmented legal landscape.
Looking ahead, observers will be watching for the bill’s progress and for any implementing regulations that define how penalties would be applied, how scam centers would be identified and shut down, and how cooperation with foreign law-enforcement agencies would operate in practice. The interplay between national sovereignty claims and international AML/CFT standards will shape not only Myanmar’s regulatory posture but also the operational realities for crypto firms seeking to operate compliantly in a high-risk environment. As authorities stress sovereignty and stability, regulators and institutions alike must prepare for a period of intensified scrutiny and potential policy evolution.
In sum, the Anti-Online Fraud Bill represents a stark signal of regulatory posture: a willingness to wield severe penalties to deter crypto-enabled fraud and online scams, coupled with the likelihood of ongoing cross-border enforcement activity. For analysts and compliance professionals, the development underscores the necessity of robust risk assessment, vigilant KYC/AML controls, and clear governance around cross-border arrangements in a region where illicit networks continue to adapt their methods to exploit digital financial channels.
Closing perspective: While the bill’s passage remains to be seen, its introduction reinforces a policy trend toward aggressive anti-fraud regulation and heightened enforcement across Southeast Asia. Stakeholders should monitor parliamentary proceedings and any subsequent amendments that specify enforcement mechanisms, due-process safeguards, and the scope of regulatory oversight for digital assets and related services.
Key takeaways
- Pi Network extends losses on Friday as a 50-period EMA caps short-term recovery attempts.
- The token could drop below the $0.1600 if the bearish trend persists.
Pi Network (PI) extended losses on Friday, risking a bearish breakout from its short-term consolidation on the 4-hour chart.
The token remains capped by the 50-period Exponential Moving Average (EMA) at $0.1733, limiting recovery despite the recent launch of vibe coding features within the Pi ecosystem.
Vibe coding features aim to boost ecosystem development
The Pi Network has introduced vibe coding tools for developers, enabling the conversion of AI-assisted apps—from platforms like Codex, Claude Code, Replit, Cursor, and Lovable—into Pi Apps.
This integration could reduce app development time and strengthen the ecosystem, which boasts over 60 million engaged users.
Technical outlook: correction pressure persists
The PI/USD 4-hour chart remains bearish and efficient as PI is down by more than 2% in the last 24 hours.
PI is currently under a corrective bias, capped by the 50-period EMA at $0.1733 on the 4-hour chart and the 200-period EMA at $0.1771.
The pair also sits below a nearby downtrend resistance line around $0.1741, reinforcing the upside barrier.
If the bulls regain control, initial resistance would be seen at the 50-period EMA at $0.1733 and the 200-period EMA at $0.1771 cap short-term upside. A nearby downtrend resistance line around $0.1741 adds to the barrier.
The momentum indicators also suggest that the bears are still in control. The Relative Strength Index (RSI) sits at 45, below the midline, signaling persistent selling pressure.
The MACD remains near-flat, suggesting weak, consolidative momentum rather than a decisive rebound.
However, if the bearish trend persists, immediate support would emerge at the S1 Pivot Point at $0.1645.
Pi Network’s short-term outlook remains cautious, and traders should monitor both EMA and trendline levels for signs of a breakout or deeper correction.
The T3 Financial Crime Unit, a joint operation by Tether, TRON, and TRM Labs, has frozen more than $450 million in illicit cryptocurrency since launching in September 2024, with 43.9% more illicit proceeds intercepted in 2025 than the prior year.
The May update reflects expanded cooperation with police forces in the United States, Spain, Germany, the Netherlands, and Bulgaria. The Financial Action Task Force (FATF) has also cited the unit as a leading public-private model for digital asset enforcement.
T3 Expands Reach Across 23 Jurisdictions
The unit operates in 23 jurisdictions, including the United States, Spain, Germany, Brazil, and the United Kingdom. Since its September 2024 debut, it has analyzed millions of transactions across five continents to identify exchange hacks, exploits, DPRK-linked activity, terrorist financing, money laundering, and violent crime cases.
Past T3 actions include a Spanish bust that recovered about $26.4 million tied to a Madrid-based laundering ring.
Response time has been a focus. T3 says it has frozen funds within 24 hours during multiple account takeovers and violent crime emergencies.
The unit also supported Operation Lusocoin, a Brazilian Federal Police investigation that froze more than R$3 billion in crypto, including 4.3 million USDT, Tether’s flagship stablecoin, tied to the criminal network.
Wrench Attacks and North Korean Funds Move Into Focus
Cases this year have spanned controlled substances, terrorist financing, and what T3 calls wrench attacks, a category covering home invasions, kidnappings, and violent extortion against crypto holders.
The unit says it can lock targeted wallets within hours of a verified law enforcement request. BeInCrypto has reported separately that physical attacks targeting digital asset users could climb sharply in 2026.
Recognition came earlier this year, when the FATF named T3, alongside TRM’s Beacon Network, as a leading framework for tackling digital asset crime.
TRM Labs has estimated that illicit crypto flows reached a record $158 billion, an environment in which real-time identification and freezing have become central to enforcement.
“This $450 million milestone is just the beginning of what T3 is capable of, as its impact will only continue to grow in scale and importance.” Paolo Ardoino, Tether CEO, in a statement.
The post Tether, TRON, TRM Labs Freeze $450 Million as T3 Crime Crackdown Widens appeared first on BeInCrypto.
As the Commodity Futures Trading Commission takes on a growing task to police U.S. crypto trading, senior lawmakers are saying it needs bipartisan leadership.
The team behind the controversial project continues to post frequent updates to its substantial user base in terms of the latest developments in its broader ecosystem.
The latest, which went live on Pi Network’s only official account on X, focused on how vibe coders and creators can use the ‘massive user base of over 60 million Engaged Pioneers.’
AI and Human Input
Ever since Pi Network’s Core Team introduced the Pi App Studio last year, they have often outlined the advantages of using AI. However, instead of trying to separate the new technology from human input, they are actively combining them to get the best of both worlds.
In the new post, the team said vibe coders and creators can utilize the aforementioned 60 million user base by “easily bringing their external AI-created apps to Pi’s real distribution network and utility ecosystem through Pi App Studio.”
This means that even those with non-technical products can build apps using platforms such as Codex, Replit, Lovable, Claude Code, Cursor, or other AI-assisted coding tools. Then, they can employ the Pi App Studio to convert the new applications into Pi-native apps.
The post doubles down on the narrative that Pi Network aims to close the gap between creating apps, something in which AI can easily assist, and turning those new products into actually usable and helpful tools.
Ideas Too Good Not to Be Seen
The team further noted that creators can now connect their apps to an existing ecosystem with users, payment capabilities, identity verification, decentralized human infrastructure, and platform-level tools in place, instead of rebuilding infrastructure from scratch.
Consequently, this feature allows users’ ideas to become reality and reach other customers a lot faster. The team said it added this possibility because “your ideas are too good to be seen.” The feature is already activated and users can take advantage from it using the Pi App Studio.
The post Pi Network Drops New Update That ‘Changes the Equation for Creators’: Details appeared first on CryptoPotato.
Popular on-chain investigator ZachXBT updated his 100,000 followers on Telegram minutes ago that the popular decentralized exchange THORChain has likely become a victim of a new crypto hack.
The reported attack appears to be for over $10.5 million, as the platform was exploited on Bitcoin, Ethereum, Binance Smart Chain, and Base.
Although there has been no official confirmation from THORChain’s team as of the time of this point, the project’s native token plummeted immediately after the news spread on X.
RUNE traded above $0.58 before it crashed by double-digits to a two-week low of $0.50, where it found some support.
This is a breaking story with few details at the moment, so make sure to follow for additional information in the following hours.
UPDATE 1: ZachXBT noted shortly after his first report that the actual stolen amount has grown to $10.7 million.
The post RUNE Plunges by 15% as THORChain Falls Victim to New Hack: ZachXBT appeared first on CryptoPotato.
Connex released 1.32 million CONX tokens worth $17.95 million on May 15 in a scheduled cliff unlock.
Summary
- Connex unlocked 1.32 million CONX tokens valued at approximately $17.95 million on May 15, 2026.
- The unlock represents 1.49% of Connex’s released supply, with 822,500 tokens allocated to the ecosystem.
- The remaining 500,000 CONX tokens from the release were directed to the community treasury.
Connex, a Web3 professional networking platform that uses its native token for payments, governance and credential verification, executed the unlock on a preset cliff schedule. According to Tokenomist data, the release equals approximately 1.49% of the project’s adjusted released supply, with 88.60% of maximum supply already in circulation ahead of the event.
The allocation split the 1.32 million CONX into two portions. The ecosystem fund received 822,500 tokens worth approximately $10.94 million, while the community treasury received the remaining 500,000 tokens valued at approximately $6.65 million.
Supply event adds $17.95m in CONX tokens to circulation
Cliff-style unlocks, which release tokens in a single event rather than gradually, can add short-term selling pressure when a large percentage of market cap enters circulation at once.
At current prices the unlock represents roughly 60% of CONX’s market capitalisation of approximately $30.61 million, making it one of the highest unlock-to-market-cap ratios of the week.
The broader crypto market is tracking multiple significant unlock events in May 2026. Crypto.news reported that last week’s period included over $229 million in releases across HYPE, ENA and RED, with Tokenomist data showing that large cliff unlocks draw heightened trader attention around scheduled dates.
Earlier this month, governance turbulence surrounding a separate unlock showed how vesting mechanics can generate community pushback when supply events are not well managed.
The WLFI situation, where $55.57 million was shifted into an unlock contract before a community vote halted the process, highlighted how unlock structure and governance interact.
Connex’s unlock, by contrast, follows a previously disclosed vesting schedule. The token is used to incentivise professional participation and governance across Connex’s LinkedIn-style decentralised network. Hyperliquid’s HYPE token demonstrated earlier this year that markets can absorb large unlock events without sustained price damage when underlying demand remains strong.
Layer-1 blockchain developer Solayer launched a Visa-compatible payment card that allows users to spend USDC balances through in-store, online and contactless transactions.
The card supports ATM withdrawals in supported regions and can be ordered through the Solayer Pay app, according to the announcement. Existing users can request the card for free, while new users pay a $20 annual activation fee.
Source: Solayer Pay
Solayer Pay launched in April 2025 under the name Emerald Card and initially rolled out to 40,000 users across more than 100 countries, according to the company. Solayer said the new physical card expands the existing Solayer Pay platform, which supports storing, transferring and spending digital assets through Visa-linked payment infrastructure.
The company said the card enables users to spend USDC (USDC) balances globally through Visa payment infrastructure directly from their Solayer Pay accounts.
Solayer develops infiniSVM, a layer-1 network compatible with the Solana Virtual Machine that is designed for high-throughput onchain applications using Solana (SOL) for gas fees.
Related: Dartmouth endowment invests in Solana ETF, holds $14M in crypto exposure
Stablecoin payment cards expand
The launch from Solayer comes as rypto and payments companies have increasingly launched stablecoin-linked payment cards tied to traditional card networks including Visa and Mastercard.
In January, crypto exchange OKX launched a Mastercard-linked payment card for European users through regulated issuer Monavate, allowing verified customers to spend stablecoins, including USDC and Paxos’ Global Dollar (USDG).
The following month, MetaMask expanded its Mastercard-linked crypto payment card across the United States, including New York for the first time, allowing users to spend digital assets directly from self-custodial wallets.
In March, Visa and Stripe-owned Bridge expanded their stablecoin-linked card program to 18 countries and said they planned to roll out the product across more than 100 countries by the end of 2026. The companies also began testing stablecoin settlement through Visa’s pilot program.
The same month, Mastercard agreed to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion. BVNK provides infrastructure for businesses to send and receive stablecoin payments across blockchain networks in more than 130 countries.
Data from DefiLlama shows the stablecoin market has grown from about $243.3 billion in May 2025 to around $322.5 billion today, an increase of about $79 billion.
Tether remains the dominant stablecoin issuer, with its USDt (USDT) commanding a market capitalization of about $189.7 billion, representing around 58.8% of the total stablecoin market, while Circle’s USDC ranks second with a market capitalization of about $76.7 billion.
Source: DefiLlama
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Crypto investigator ZachXBT has accused the team behind LAB of using opaque OTC deals, insider-controlled supply, coordinated market-making activity, and hidden unlock structures to drive the token’s recent rise to a nearly $6 billion fully diluted valuation.
In his latest post on X, ZachXBT claimed LAB represents “everything wrong” with the current centralized exchange token environment, where retail investors allegedly have little visibility into token allocations and insider agreements. The LAB token crashed by over 30% in 24 hours.
LAB Faces Fresh Scrutiny
According to the investigator, LAB was launched in October 2025 by Vova Sadkov and Mark after their previous project, Eesee (ESE), reportedly left many investors dissatisfied once the team moved on. He explained that there is still no clear public breakdown of LAB’s token distribution, as CoinGecko, RootData, and CoinMarketCap all display different circulating supply figures, while LAB’s own documents reportedly provide no detailed allocation data.
ZachXBT said his on-chain analysis indicates insiders likely control more than 95% of the token supply. He also alleged that the LAB team unilaterally changed vesting conditions for Legion public sale participants from a three-month cliff to a nine-month cliff, as he cited an email screenshot shared by a user.
Separate complaints from creators who claimed they were still waiting for marketing payouts months later were also mentioned in the findings. ZachXBT also shared details from a draft private loan contract tied to The Lab Management Ltd., a British Virgin Islands company allegedly connected to Vladimir Sadkov.
The agreement reportedly offered loans with 7.5% monthly interest over six months, with repayment in LAB tokens at market price in the event of default. The wallet connected to the contract was allegedly later used for public LAB buybacks and linked on-chain to another wallet involved in a separate Wildcat loan.
Hidden OTC Deals and Insider Activity
ZachXBT also claimed LAB-related funds were sent to exchange accounts allegedly linked to Sadkov, which had earlier received deposits connected to Eesee. The investigator even went on to allege that several OTC and loan arrangements had been privately offered since January 2026.
According to screenshots and claims shared in the post, some deals included 60% discounted OTC allocations with lockups, guaranteed discount structures recalculated monthly, and influencer-focused allocations with discounts reaching as high as 80%. Some agreements purportedly required influencers to publicly support LAB before their tokens unlocked.
These hidden arrangements created supply risks that retail traders could not track publicly, according to ZachXBT. He also linked one signer associated with LAB multisig wallets to an insider believed to be connected to earlier RIVER token manipulation activity.
As per the findings, insiders deposited 226 million LAB tokens into Bitget-linked addresses between March and April 2026 before roughly 100 million LAB tokens were withdrawn between May 11 and 12 to ten separate wallets. ZachXBT said most LAB spot activity appeared concentrated on Bitget, while Binance and Gate were also used for derivatives and Alpha markets. He called on exchanges including Bitget, Binance, and Gate to freeze alleged insider profits or delist the token altogether.
ZachXBT had raised similar concerns around the SIREN token earlier this year after the asset surged from around $0.40 on March 10 to an all-time high of $3.65 by March 22 before eventually collapsing to $0.53.
The post ZachXBT’s Explosive Claims Send LAB Tumbling Over 30% in One Day appeared first on CryptoPotato.
This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH)
Ethereum has been hovering just below the $2,400 resistance for over four weeks. With bulls unable to break this level, the price has entered a correction. At the time of this post, ETH is found at around $2,270 and is at a similar price to last week.
Since late April, the momentum on Ethereum has turned bearish on the daily timeframe, and the price appears to be catching up with clear lower highs.
Looking ahead, ETH has formed a large bearish channel with the lower limit at around $2,200. If that level is lost in the near future, then this cryptocurrency is likely to fall to $2,000 next.
Ripple (XRP)
XRP had a good week, closing 6% higher. This comes after the price managed to break out of the blue pennant and rushed towards $1.5. With bulls in control, this cryptocurrency has a real chance to test the key $1.6 resistance next.
As long as the price holds above the pennant, the bias remains bullish. Should the price fall back within the pennant, that would be interpreted as a bearish signal. Right now, the most important support is found at $1.4.
Looking ahead, XRP has been making higher lows and higher highs since April, and the buy volume is increasing. These are bullish signals that will be confirmed once $1.6 becomes support.
Cardano (ADA)
ADA is up 3% this week and has attempted to break the $0.28 resistance. However, sellers returned there to stop the rally, and the price entered into a pullback.
Even if the breakout did not materialize on this first try, it is a major change in price action that finally signals it wants to move higher. Should sellers continue to dominate, ADA could test the $0.25 support.
Looking ahead, this recent rally could suggest Cardano has bottomed around the $0.24 support level. If so, buyers will likely aim to send this cryptocurrency higher, even if it takes them more time. Key resistance levels are found at $0.28 and $0.30.
Binance Coin (BNB)
BNB closed the week 6% higher. This has allowed the price to arrive at the $690 key resistance. At the time of this post, bulls and bears are contesting this level. While momentum favors buyers, it needs higher buying volume to succeed.
Since this cryptocurrency found support at $580, the price has been in a steady uptrend, with daily gains. However, the current resistance may put a stop to this trend.
Looking ahead, Binance Coin needs to break above $690 to end its long consolidation that began in February. The price has been bouncing between $580 and $690 with no clear winners to date.
Hype (HYPE)
HYPE rallied 20% in the past 24h on the news that the USDC sitting on Hyperliquid will use a majority of its native yield to purchase HYPE. This comes after a trilateral agreement among Hyperliquid, Circle, and Coinbase to make USDC the exchange’s native stablecoin.
This development will increase the size of HYPE buybacks, as USDC will provide additional liquidity. In light of that, the price quickly rallied in anticipation of additional buying pressure.
Looking ahead, even if HYPE had a fantastic rally, the price failed to re-enter the blue wedge. For this reason, this could be interpreted as a bearish re-test. Losing the support at $43 would confirm this bias.
The post Crypto Price Analysis May-15: ETH, XRP, ADA, BNB, and HYPE appeared first on CryptoPotato.
Bitwise Asset Management has launched a US-listed investment product tied to Hyperliquid, offering investors spot exposure to the token and staking rewards linked to the decentralized derivatives platform.
The fund, trading under the ticker BHYP on the New York Stock Exchange, is the second US-listed Hyperliquid product to launch this week. Bitwise said the fund plans to stake a significant portion of its HYPE (HYPE) holdings through its in-house staking division.
Hyperliquid is a decentralized trading-focused layer 1 blockchain launched in 2023 that offers perpetual futures, spot trading and lending services. Bitwise said the platform processed about $2.9 trillion in trading volume in 2025 and accounted for roughly 60% of global onchain derivatives open interest as of May 5, citing DefiLlama data.
HYPE was trading at around $44 on Friday with a market capitalization of roughly $11.22 billion, making it the 10th-largest cryptocurrency by market value, according to CoinMarketCap data. The token is used for staking, governance and ecosystem participation.
Bitwise, which manages about $11 billion in client assets across crypto investment products including exchange-traded funds, private funds and staking strategies, said the fund will charge a 0.34% sponsor fee, which will be waived for the first month on the fund’s first $500 million in assets.
HYPE token price. Source: CoinGecko
Related: Wells Fargo lifts Ether ETF holdings in Q1 as Bitcoin positions shift
Hyperliquid draws growing institutional interest
The launch comes as institutional interest in Hyperliquid and HYPE-linked investment products expands across crypto asset managers, venture capital firms and trading platforms.
Earlier this week, 21Shares launched its THYP Hyperliquid fund in the US, drawing about $1.2 million in net inflows and $1.8 million in trading volume on its first trading day, according to Bloomberg ETF analyst James Seyffart. Grayscale Investments is also awaiting a decision on its proposed Hyperliquid fund.
On Wednesday, onchain analytics account Lookonchain said wallets linked to venture capital company Andreessen Horowitz had accumulated about $67 million worth of HYPE over the previous month and staked roughly $51 million worth of the token.
Source: Lookonchain
The following day, Coinbase announced it would become the official treasury deployer for USDC (USDC) on Hyperliquid, where the stablecoin’s supply has grown to around $5 billion since the network launched in 2023, according to DeFiLlama data.
As Hyperliquid gains traction as a decentralized derivatives exchange, centralized crypto companies have also expanded deeper into perpetual futures and offshore derivatives markets through new trading products and international launches.
Earlier this year, Coinbase launched stock perpetual futures for eligible non-US users, while Kraken rolled out tokenized equity perpetual futures tied to assets including Nvidia (NVDA), Apple (AAPL) and Tesla (TSLA) for offshore clients.
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