Crypto Shifts to Infrastructure — Strategy Abandons Ideology, Wall Street Prepares Lawsuit. Crypto Recap №144
Week 20, May 5 – 11, 2026 This week marked the shift of cryptocurrencies into institutional payment and settlement systems. AWS integrated micropayments in USDC through the Coinbase x402 protocol for...
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In Japan, government bonds will be tested as digital collateral on the Canton network.
The Japan Securities Clearing Corporation (JSCC), part of the Japan Exchange Group (JPX), is launching a pilot project. This project is being implemented in collaboration with Mizuho Financial Group (...
Kraken's parent company, Payward, is acquiring the regulated CFTC exchange Bitnomial.
The deal is set to be completed in the first half of 2026 for $550 million, in a mix of stocks and cash. As part of the acquisition, Payward's equity value was estimated at $20 billion. Bitnomial is t...
Circle has introduced the USDC Bridge for transferring stablecoins between different blockchains.
The product is based on the company's technology, CCTP, which was launched in April 2023. It facilitates the transfer of hundreds of millions of stablecoins daily. The USDC Bridge will have a built-in...
The co-founder of DeFiLlama (0xngmi) outlined possible scenarios following the breach of Kelp DAO:
1) Distributing the losses among all users. A haircut of 18.5% would result in $216 million of bad debt in Aave. The Umbrella module's insurance coverage is $55 million, Aave's treasury is $85 million...
Hack of Kelp DAO for $293 Million Causes $13.8 Billion DeFi Collapse
North Korean hackers from Lazarus compromised one of the largest ETH staking protocols with a TVL of $1.6 billion, rsETH (issued by Kelp). Following the hack, the attackers withdrew 116,500 rsETH ($29...
Tether Joins Drift Protocol's $150 Million Recovery Program
The company will provide $127.5 million, with the remainder coming from unnamed partners. As part of the platform's relaunch, Drift will also switch its settlements from USDC to USDT. Tether stated th...
Ukraine Arrests FBI-Wanted Cybercriminal with $11.1 Million Seized
The man lived in Uzhgorod under a new identity after obtaining fraudulent death documents. He was part of an international group that inflicted damage of over $100 million on citizens of Europe and th...
Sanctioned Russian crypto exchange Grinex suspends operations following a 1 billion ruble hack
Company representatives blamed the incident on special services from "unfriendly countries." Grinex estimated the damage at 13.7 million USDT. The stolen funds from 54 addresses were converted into TR...
An advisor to the European Commission stated that the EU might reconsider MiCA.
Peter Kerstens noted that during the adoption of the bill, a few large assets dominated the crypto market. However, the ecosystem has matured, and policymakers need to reassess the concept's alignment...
Weekly Recaps
In-depth analysis Crypto Shifts to Infrastructure — Strategy Abandons Ideology, Wall Street Prepares Lawsuit. Crypto Recap №144
Week 20, May 5 – 11, 2026 This week marked the shift of cryptocurrencies into institutional payment and settlement systems. AWS integrated micropayments in USDC through the Coinbase x402 protocol for...
DeFi Covers Its $305 Million Gap — New York Court Turns Rescue into Sanctions Front Against North Korea. Crypto Recap No. 143
Week 19, April 28 – May 4, 2026 The week saw two mature processes and one new controversy. Regulators in the EU, UK, US, and Brazil are rewriting the framework for stablecoins and tokenized assets. Pr...
**DeFi Repairs $200 Million Hole Itself, Governments Simultaneously Open Sanction Floodgates and Mining Offshore: Crypto Recap #142**
**Week 18, April 20 – 27** The week marked a transition from shock to adaptation. Mantle, Lido, and Kulichov's personal fund gathered $87 million to cover Aave's deficit after the Kelp DAO hack, while...
While Lazarus zeros out DeFi by $13.8 billion, regulators, exchanges, and governments build crypto infrastructure. Crypto Recap #141 Week 17, April 13 – 20
The week unfolded with four simultaneous vectors. The Lazarus group hacked Kelp DAO for $293 million, causing the largest quarterly collapse of DeFi TVL by 14%, losing $13.8 billion. Meanwhile, Japan,...
Crypto is becoming infrastructure—simultaneously for American AML, Korean exchanges, and Iranian tankers. Crypto Recap No. 140 Week 15, April 7–13
The week highlighted that the crypto market is moving concurrently on four parallel trajectories. The American GENIUS finally received operational rules—stablecoins are transforming into banking infra...
Crypto Quietly Becomes Financial Infrastructure — While North Korea Withdraws $280 Million. Crypto Recap No. 139 Week 14, March 31 – April 6
The week highlighted two parallel processes: institutional and regulatory infrastructure is strengthening, while security threats and political activity in the crypto industry are intensifying. Strate...
Regulatory Architecture of the Crypto Industry Is Forming Faster Than the Market Can Reassess It
The week was marked by increased institutional pressure on the crypto market. Strategy announced plans to raise $44.1 billion, the SEC submitted digital asset classification rules, and the White House completed its review of crypto access to 401(k) plans.
The Crypto Market Is Becoming More Integrated Into the System While Global Finance Is in Turmoil
The most notable shift of the week is the accelerated institutionalization of crypto infrastructure through payments, trading, and market architecture.
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