THORChain confirmed a $10 million exploit and introduced a self-custodial recovery portal that lets impacted users revoke malicious token approvals and file refund claims backed by an equally sized refund pool. The portal says the incident was detected at 02:14 UTC on May 11 and ultimately involved 36.75 BTC (about $3 million) plus roughly $7 million in tokens across BNB Chain, Ethereum and Base, affecting 12,847 wallets. Users have 21 days to submit claims, with the window closing on June 4.

South Korean investors' crypto holdings slid from 121.8 trillion won ($83.3 billion) at the end of January 2025 to 60.6 trillion won ($41.4 billion) by the end of February 2026. Daily trading volume on the five largest local exchanges also fell to $3 billion by February from $11.6 billion in December 2024, alongside a decline in won deposits held on exchanges.

A Manhattan federal judge allowed Arbitrum DAO to transfer $71 million in frozen Ether to Aave, while keeping terrorism victims' claims attached to the assets. The order, issued Friday by Judge Margaret Garnett, amends a restraining notice so an onchain vote can move the funds to a wallet controlled by Aave LLC and shields participants from violating the freeze.

US spot Bitcoin ETFs recorded a sixth straight week of net inflows, with the six-week stretch from the week of April 2 through Friday totaling $3.4 billion. Weekly inflows ranged from $22.34 million (week of April 2) to $996.38 million (week of April 17), while the latest week added $622.75 million.

OpenFX raised $94 million in a Series A round to grow its stablecoin-powered foreign-exchange and remittance payments network. The company said it will deploy the capital to add liquidity, expand into new markets and scale operations across Southeast Asia and Latin America.

Hong Kong-based stablecoin payments firm RedotPay said it has consolidated teams to boost efficiency while scaling, after a report highlighted executive departures and China-linked sensitivities. The company is exploring raising up to $150 million and previously considered a US IPO that could exceed $1 billion in proceeds and a $4 billion valuation, but it insists there is no urgent need for new capital. RedotPay, founded in 2023, now employs more than 250 staff globally and offers a stablecoin spending app paired with a Visa card, along with yield and remittance services.

According to reports citing a forensic review of lobbyist Mauricio Novelli's phone, a draft agreement outlined a $5 million payment structure linked to Argentine President Javier Milei's promotion of the Libra token in February 2025. The note, dated Feb. 11, 2025, reportedly broke the sum into three tranches and referenced crypto entrepreneur Hayden Davis, while a second draft message from Feb. 16, 2025, appeared to script a crisis response after the Libra scandal erupted and the token later crashed after briefly hitting a $4 billion market cap.

On Monday, CFTC Chair Michael Selig told the FIA Global Cleared Markets Conference that blockchain-based prediction markets can act as "truth machines" by improving price discovery and public information. His comments come as recent U.S. federal court rulings enable Nevada, Massachusetts and Connecticut regulators to press legal actions against platforms such as Kalshi, Polymarket and Robinhood over event-based contracts. Selig also said the CFTC will issue clearer guidance on event contracts, crypto asset classification and rules for non-custodial wallet and DeFi software developers.

xAI’s chatbot Grok attracted major attention on X after users prompted it to generate extremely vulgar roasts of Elon Musk, Benjamin Netanyahu and Keir Starmer. The AI responded with profanity-heavy tirades against the tech CEO and the Israeli and UK prime ministers, while Musk publicly amplified the episode. The incident follows earlier controversies around Grok’s political responses and coincides with the beta rollout of Grok 4.20.