operations

According to Jinshi News, the U.S. Central Command has warned that it will conduct military operations near the Strait of Hormuz and will strike vessels involved in or supporting the laying of mines in the name of self-defense. The U.S. military stated that Iran is still attempting to obstruct mine-clearing operations and safe navigation in the Strait of Hormuz, and any vessels found to be participating in mine-laying activities could become targets. As of May 29, the U.S. military has forced 115 commercial vessels to change their course.

According to official news, the Arbitrum Foundation has initiated a new round of funding requests to the Arbitrum DAO, planning to obtain 16 million US dollars in stablecoins, 1,740 ETH, and 230 million ARB, with a total value of approximately 43.5 million US dollars.The funds raised this time will be specifically used for the foundation's operational work in 2027, covering areas such as technical infrastructure, ecosystem development, marketing promotion, and governance services. The ARB tokens requested in this application account for 3.7% of the total supply. In comparison, the Arbitrum DAO's total revenue for the year 2025 is approximately 23.49 million US dollars. Currently, this funding proposal is still in the community governance discussion stage.

According to Jin Shi reports, Federal Reserve's Logan calls for centralized clearing of the Federal Reserve's open market operations and the development of richer liquidity tools.

According to CoinDesk, European stablecoin issuer StablR has suspended the minting and redemption of USDR and EURR due to a hacker attack, and has requested exchanges to stop trading and deposits/withdrawals of the two currencies. The attacker exploited a vulnerability in its Ethereum 1-of-3 multi-signature wallet with a low threshold, compromised a single private key, added themselves as an administrator, and removed the original signers, resulting in the over-issuance of approximately 8.35 million USDR and 4.5 million EURR, valued at approximately $13.5 million at the pegged price, with actual cashing out around $2.8 million.The incident led to both stablecoins being under-collateralized, no longer meeting the MiCA requirement of a 1:1 full reserve. USDR briefly depegged but recovered to about $0.994, while EURR fell to about $0.548. StablR stated that it has initiated an investigation and will report to the Maltese regulators and relevant authorities.

According to Blue Whale News, the China Securities Regulatory Commission previously announced that it has initiated an investigation and issued a prior notice of administrative penalties against Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited for illegal securities business operations within the country and related entities.Tiger responded by stating: "The company has noted the relevant notification and will strictly comply with regulatory requirements to actively cooperate with related work. Currently, all of the company's business operations are normal. Tiger always prioritizes compliance and maintains close communication with regulatory agencies."

The China Securities Regulatory Commission and seven other departments jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Operating Activities."It is reported that the overall requirement of the "Rectification Plan" is to carry out concentrated rectification for two years, completely banning the illegal cross-border operating activities of foreign securities, futures, and fund operating institutions, and achieving the rectification goal of "resolutely banning the illegal and steadily cleaning up the existing stock."The targets of rectification include foreign institutions engaged in illegal cross-border securities, futures, and fund business, domestic related or cooperative entities assisting foreign institutions in illegal cross-border operations, illegal intermediaries soliciting domestic investors, internet platforms and online self-media that illegally publish information, and so on. Illegal cross-border operating activities of foreign institutions will be banned in accordance with the law, and behaviors of relevant entities that violate laws and regulations related to foreign exchange management, anti-money laundering, cybersecurity and information management, personal information protection, etc., will also be included in the scope of rectification.

The cross-chain network Everclear officially announced on social media that it has decided to end the operations of the Everclear Foundation and Labs, and to stop product development. Currently, the protocol has been shut down, and the Everclear UI and chain have ceased operation. The team stated that the remaining TVL in the protocol has been fully withdrawn, and to their knowledge, no user funds are trapped.Regarding the reasons for the shutdown, Everclear stated that although the monthly trading volume had previously reached $500 million, the team failed to establish sufficient commercial depth and convert it into effective revenue due to users' high price sensitivity in the cross-chain solver field. Additionally, the team exhausted its funds (runway) during the transition to a B2B2C model over the past six months, and several acquisition proposals explored were also unsuccessful.For future arrangements, Everclear is conducting an orderly liquidation to address outstanding debts. The team stated that if there are remaining funds after the debts are settled, they will explore repurchasing existing tokens, with a potential total repurchase amount estimated between $50,000 and $200,000, but this has not yet been finalized. Furthermore, the foundation is considering open-sourcing the protocol's intellectual property (IP) to give the DAO the option to continue advancing work under new management; currently, the DAO itself is still operational.

According to The Block, the Ethereum Layer 2 project Zero Network announced that it will officially shut down soon, just about 1.5 years after its launch. Zero Network was launched by the Zerion team in November 2024, positioned as the first EVM-compatible gas-free Rollup, aimed at lowering user barriers and promoting mainstream adoption.The team stated that they will focus resources on Zerion's API and wallet business. Users need to bridge out their NFTs, ETH, and other tokens from the Zero Network by the end of July, as the bridging deposit function has currently been suspended.

The DAO infrastructure service provider Syndicate announced that it will gradually cease operations. It stated that after five years of continuous development of on-chain developer infrastructure, the Rollup market has undergone fundamental changes. Currently, the Rollup market size has significantly shrunk, with some Rollup projects gradually shutting down, and the market has shifted from EVM Rollups to custom chain models built from scratch by consulting teams, resulting in a significant decline in reusable technology and network value.Syndicate stated that its system consists of two parts: Syndicate Labs, responsible for development, will shut down, while the independent entity Syndicate Network Collective (Wyoming DUNA), which holds SYND tokens and has governance rights, will continue to exist, and SYND governance will not be affected in the short term.In addition, Syndicate emphasized that this decision to cease operations is unrelated to recent cross-chain security incidents, and affected users and SYND holders have received full compensation through treasury reserves, while team and investor tokens are still locked.

SocialFi trading card game (TCG) fantasy.top announced that it will close at the end of June after two years of operation. The team stated that the long-term economics of the TCG model ultimately showed its limitations, and the trading volume was insufficient to sustainably support long-term operations.Over the past year, the team explored various social vertical products such as prediction markets, mind share tracking, and social graph betting, but none achieved lasting market fit. All investors will receive a full refund. The main Fantasy competition will continue until June 18, until all remaining rewards are distributed. Games such as prediction markets, prize pools, and arenas will close on May 21.

The open-source data visualization tool Grafana has released the latest progress on the investigation of the security incident on May 16. The investigation found that this incident was limited to the GitHub environment of Grafana Labs, including both public and private source code as well as internal GitHub repositories, and did not affect customer production systems, operations, or the Grafana Cloud platform. The downloaded content, in addition to the source code, also included some repositories used by the team for collaboration and storage of internal operational information and business details, involving business contact names and email addresses, rather than data from production systems or the cloud platform.Grafana Labs has made it clear that the codebase was downloaded but not tampered with, and currently, customers and open-source users do not need to take any action. The incident originated from a TanStack npm supply chain attack conducted through the Mini Shai-Hulud campaign. Grafana Labs detected malicious activity on May 11 and initiated an emergency response, but a credential was overlooked, allowing the attacker to gain access. After receiving a ransom demand on May 16, the company decided not to pay the ransom and has rotated automated credentials, implemented enhanced monitoring, audited all commits since May 11, and significantly strengthened GitHub security configurations. The company has notified federal law enforcement, and the investigation is ongoing.

On-chain detective ZachXBT posted a warning stating that "choosing to gamble on Spartans is itself an IQ test," and questioned the long-term harvesting behavior of the operators behind Spartans. ZachXBT pointed out that Gurhan Kiziloz, a figure related to Spartans, previously operated BlockDAG Network, which has not launched its mainnet or mining products for years, yet still promoted a presale with "300 times returns" and has raised at least $350 million from inexperienced retail investors.He further stated that BlockDAG has recently shifted to casino operations and suspects that the related casino platform may be used to "legitimize BlockDAG funding sources," including circulating funds by paying high fees to employees and KOLs. Previously, several community members and content creators have also publicly questioned Spartans' marketing model and operational transparency, warning users of potential "rug pull" risks.

Lido stated on social media that Swellchain will cease operations on June 15, 2026, and users need to withdraw their wstETH assets in advance.After June 15, 2026, Swellchain will be permanently closed, and any remaining wstETH may not be recoverable.

According to The Block, Nasdaq-listed Bitcoin ATM operator Bitcoin Depot has filed for Chapter 11 bankruptcy in the Southern District of Texas to gradually shut down operations. CEO Alex Holmes stated that changes in the regulatory environment have made the current business model unsustainable, with states implementing stricter compliance obligations, including new transaction limits, and some jurisdictions even directly restricting or banning Bitcoin ATM operations.In April, the company experienced a security breach that resulted in the theft of $3.7 million. Last week, the company stated that there were "significant deficiencies" in cash transportation reconciliation, preventing timely delivery of the first-quarter financial report. Preliminary unaudited data shows that first-quarter revenue decreased by 49.2% year-over-year, with a net loss of $9.5 million, compared to a net profit of $12.2 million in the same period last year. The company was founded in 2016 and operates the largest Bitcoin ATM network in North America, with over 9,000 machines globally.

The HyperEVM native non-custodial lending protocol HypurrFi announced that it will gradually cease brand operations and transfer the lending market infrastructure based on Euler on HyperEVM to Euler for maintenance and operation.HypurrFi stated that all markets currently remain solvent and operational, with no security vulnerabilities or attacks on the protocol. User deposits, collateral, and positions are all safe and intact. Clearstar Labs will continue to serve as the risk curator for the Prime, Yield, and Earn vaults.The announcement stated that the HypurrFi Pooled market will enter an orderly shutdown phase over the next few weeks to months, with new lending currently suspended and lending limits gradually reduced to encourage user repayment migration. The USDXL interest rate has been raised to 30% to incentivize borrowers to repay their debts early. In addition, HypurrFi has launched a migration tool to help users transfer their positions to the Euler Prime and Yield markets. It stated that future Hyperliquid support will gradually be integrated into the official Euler UI.HypurrFi emphasized that this adjustment is a proactive operational decision, not a security incident or emergency. The Legacy and Pooled markets are expected to complete closure and liquidation by July 15, 2026.

The on-chain financial application Legend has announced that it will gradually shut down the company and product services. The team stated that Legend initially hoped to make it easier for mainstream users to access DeFi's cross-chain exchange, yield generation, and payment functions through a simpler product interface. Although the product gained a number of real users, the growth scale did not reach the level required for long-term sustainable operation, so shutting down the business is the most appropriate decision for the team and investors.Legend stated that its biggest lesson learned is that mainstream users do not care whether the product is "on-chain"; they are more concerned about yields, faster payment experiences, and greater control over their funds. The team believes that truly successful products do not explain cryptographic technology to users but instead completely hide it behind the experience. According to the announcement, Legend has stopped new user registrations, and existing users must complete fund withdrawals before the application shuts down on July 12. The official team will continue to remind users to withdraw funds via email and notifications over the next 60 days, and will retain relevant documentation pages for a period of time after the shutdown.

According to Newtimes, the lower house of the Rwandan Parliament passed a virtual asset regulatory bill on May 5, aimed at regulating cryptocurrency trading, protecting investors, and maintaining the stability of the financial system.The bill stipulates that individuals operating virtual asset businesses without authorization will face 3 to 5 years of imprisonment and fines ranging from 30 million to 50 million Rwandan francs, while companies may be fined up to 100 million Rwandan francs. The Capital Market Authority will serve as the main regulatory body, working in conjunction with the National Bank of Rwanda for enforcement. The bill is pending presidential signature and will take effect after publication in the official gazette, with detailed implementation rules to be formulated after the law comes into effect.

Bitcoin mining company DMG Blockchain has established a new subsidiary, DMG Infrastructure, for future artificial intelligence/high-performance computing (AIHPC) business operations, and plans to drive its data centers towards AI/HPC business transformation.DMG Blockchain also disclosed that it mined a total of 21 BTC in April, down from 23 BTC in March. As of the end of April, it holds 389 BTC, a decrease of 9 BTC from the previous month, with a current hash rate of 1.54 EH/s, down from 1.63 EH/s in March.

According to a report by Reuters, the American cybersecurity service company Cloudflare announced it will lay off about 20%, or more than 1,100 employees, to reorganize operations around the application of AI tools. CEO Matthew Prince stated that the company is redesigning each team and function to adapt to the era of agent-based AI.Cloudflare stated that its own AI usage has increased more than sixfold over the past three months, and this layoff is a redesign of internal processes and positions, rather than due to employee performance or short-term cost pressures. Cloudflare expects second-quarter revenue to be around $664 million to $665 million, slightly below the analyst expectation of $665.3 million.

According to crypto analyst @SpecterAnalyst, Binance US suddenly announced the listing of the small-cap meme coin USDUC, with suspected insiders profiting over $417,000 from it.According to on-chain information, multiple wallets received funds from Kraken, MEXC, and Coinbase hours before the announcement, buying USDUC at a low price in the early session and realizing huge profits ranging from $45,000 to $137,000 through the favorable listing. Additionally, according to GMGN market information, the current market capitalization of USDUC is reported at $16.94 million, with a 24-hour trading volume reaching $24.1 million.