Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

May 23 — The U.S. Securities and Exchange Commission (SEC) has delayed its plan to launch a “Tokenized Stock Offering,” a project originally designed to promote the tokenization of U.S. stocks. Often called “tokenized stocks,” these are blockchain-based products pegged to the actual market price of U.S. equities. They enable on-chain trading, 24/7 settlement, and reduced barriers to global circulation. The SEC’s delay means such products still face challenges to being officially launched in the short term. U.S. regulators remain cautious about security tokenization, investor protection, and market structure issues.

WASHINGTON, May 23 (Xinhua) — The Federal Reserve’s 17th Chair, Wash, was sworn in at the White House on Friday. In his remarks after the swearing-in, Wash stated: “The Federal Reserve’s core mission is to advance price stability and full employment. By pursuing these goals with wisdom, clarity, independence, and firm resolve, we can bring down inflation, drive stronger economic growth, lift real wages, build greater prosperity for the U.S., and equally importantly, strengthen America’s global standing.” He added: “To fulfill this mission, I will lead a reform-focused Federal Reserve that learns from both past successes and missteps, moves beyond rigid frameworks and outdated models, and upholds clear standards of integrity and performance in all our work.”

May 23 – U.S. Treasury Secretary Yellen said Fed Chair Powell will make the right call on interest rate cuts. (FXStreet)

On May 23, Americans for Fair Markets (AFM)—a Kalshi-backed advocacy group focused on prediction markets—officially launched, with former White House Deputy Chief of Staff Taylor Budowich joining as its strategic advisor. AFM’s stated priorities include pushing for a federal-level regulatory framework for prediction markets, while opposing restrictions on the industry from traditional gambling and allied interest groups. John Bivona, Kalshi’s Head of Government Relations, emphasized that millions of Americans have already signaled their support for regulated, open, and fair prediction markets. The launch comes amid growing tensions over the fast-expanding prediction market sector, with escalating disputes over regulatory authority between U.S. federal and state agencies. Separately, Congress recently launched an insider trading investigation into Kalshi and peer prediction platform Polymarket. AFM noted it will back bans on insider trading and will oppose prediction markets linked to

On May 23, Kevin Wash was sworn in as Chair of the Federal Reserve.

May 23 — U.S. President Trump noted that the robust stock market performance signals the market’s warm reception of Federal Reserve Chair nominee Powell and that Powell will receive full government support. (FX168)