Lighter has partnered with Circle, designating USDC as the preferred stablecoin.

On May 6, American rapper Iggy Azalea faces a class-action lawsuit over allegations she misled investors about the real-world utility and future development of the meme coin Mother Iggy (MOTHER) on the Solana blockchain. The suit was filed this Monday in Manhattan federal court by plaintiff Kenneth Kolbrak. In the complaint, Kolbrak alleges Azalea publicly hyped the token’s real-world utility, business integrations, and ongoing development plans—none of which were fully realized, or existed only briefly. Specific claims include: - The online entertainment platform “MOTHERLAND”—which she promoted—did not actually use the MOTHER token; instead, transactions were settled in USDT. - The business integrations she claimed (for purchasing phones and plans) were never enduringly or publicly demonstrated on relevant platforms. - When rolling out liquidity pool management for token trading, relevant terms and risks were not disclosed to token holders. Kolbrak claims he lost “hundred

On May 6th, Multicoin Capital co-founder Tushar Jain said in a social media post he’s been aggressively accumulating privacy coin Zcash (ZEC) since February. Multicoin Capital notes Zcash harkens back to the cypherpunk ideals that underpinned cryptocurrency’s creation. California’s proposed wealth tax legislation serves as a warning: as politically motivated wealth confiscation becomes more prevalent, individuals and institutions are increasingly turning to private assets to safeguard their interests. While Bitcoin boasts censorship resistance (it can’t be frozen or halted), governments can still seize known Bitcoin holdings via wealth taxes. That’s why assets with true privacy, censorship resistance, and seizure resistance have a clear product-market fit—and demand for them is surging. In Jain’s view, ZEC is the most direct public market vehicle to bet on this investment theme.

May 6: ZEC has surged 23.25% over the past 24 hours, trading at $526.51 as per HTX data.

**May 6th — Per DLnews, the Uniswap DAO is currently voting on a proposal to reclaim 12.5 million UNI tokens (worth roughly $42 million) that were previously lent to the Uniswap Foundation and several key representatives. The tokens were borrowed between 2022 and 2023 to boost governance participation.** **Erin Koen, Head of Governance at Uniswap Labs and the proposal’s author, noted Uniswap’s governance environment has improved dramatically. UNI holders are actively engaging in delegated voting, with an average proposal turnout of ~75 million votes—about 88% above quorum. Thus, the borrowed tokens have fulfilled their intended purpose.** **The vote arrives as Uniswap Labs and the Foundation address criticism of their governance system’s high centralization. The token recall also aims to resolve potential misalignment between representatives’ voting power and economic exposure.** **Voting wraps up May 8. As of now, 53% support the proposal, 46% are abstaining, and opposition i

On May 6th, per on-chain analyst Yu Jin, SKYAI has surged 10x over the past month. A trader purchased 1.032 million SKYAI for 49,000 USDT at an average price of $0.048 last June. Amid SKYAI’s recent rally, the trader has sold 873,000 SKYAI at an average of $0.426 in the past few days, totaling approximately $372,000. Additionally, the trader still holds 158,000 SKYAI, valued at roughly $125,000.

On May 6th, per LookOnChain data, a freshly created address opened a 10x leveraged long position within the past hour, purchasing 5,000 ZEC tokens and 25,000 HYPE tokens valued at roughly $3.74 million.