OpenAI has confidentially filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission, taking a formal step toward a potential initial public offering as investor demand for artificial intelligence companies intensifies. The company said it recently submitted the confidential filing and chose to announce it because it expected the submission to leak.
Hyperliquid accounted for nearly half of all crypto token buyback activity in 2025, according to research cited by market analysts, underscoring how the decentralized derivatives venue has become one of the sector’s most aggressive users of revenue-linked token support. Crypto projects have spent more than $1.4 billion on token buybacks this year, with Hyperliquid responsible
PiggyBank has unwound a hedge tied to the LAB token after extreme volatility, thin liquidity and deeply negative funding rates turned a basis trade into a material loss event for vault users. The Solana-based yield protocol said the resulting net asset value impact is expected to reach about 15% for its USDC vault, 12% for
U.S. spot crypto exchange-traded funds ended Friday, June 5, with another negative flow session, extending a difficult start to the month for regulated digital asset products. Bitcoin and Ether ETFs recorded a combined $331.7 million in net outflows, according to Farside Investors data, showing that investors continued to reduce crypto exposure through liquid fund vehicles
JuCoin is facing renewed scrutiny after on-chain investigator ZachXBT flagged user reports of withdrawal delays and questioned the quality of the exchange’s reported reserves. The concerns emerged after several users said they had experienced difficulty withdrawing funds, prompting wider attention to the exchange’s liquidity position, reserve disclosures and operational stability. The exchange, now operating as
Syscoin has paused its bridge after a security incident created approximately 5 billion unauthorized SYS outputs through its UTXO bridge path, forcing the project to coordinate with exchanges and ecosystem partners to stop tainted assets from entering liquid markets. The team said in a preliminary postmortem that an attacker exploited a validation issue in the
Liquid Mercury has selected BitGo as Crypto-as-a-Service provider across its entire trading and marketplace stack, deepening a partnership that reflects a larger institutional shift inside digital assets: custody, compliance, and settlement infrastructure are increasingly becoming the foundation of crypto market structure. The agreement brings BitGo’s qualified custody, OCC-regulated trust structure, cold storage infrastructure, and compliance
What Did Morgan Stanley and Galaxy Announce? Morgan Stanley Wealth Management and Galaxy Digital have entered a referral arrangement that will allow eligible high-net-worth clients to lend crypto assets to Galaxy in exchange for shares in spot crypto exchange-traded products. The arrangement covers cryptocurrencies including bitcoin, ether, and solana. It also includes access to the
Why Did Arthur Hayes Exit His Zcash Position? Arthur Hayes, chief investment officer of Maelstrom, said he sold his entire zcash position after developers disclosed a critical vulnerability in the network’s Orchard Pool that could have allowed unlimited counterfeit ZEC to be minted. Hayes had previously been one of ZEC’s higher-profile supporters, but said the
Why Does the SEC Clearance Matter? Securitize has moved closer to becoming a public company after the U.S. Securities and Exchange Commission declared its S-4 Registration Statement effective, clearing the next step in its proposed merger with Cantor Equity Partners II. The decision allows the deal to move to a shareholder vote on June 29.