Linera Launches Babbage Testnet

On May 5, U.S. Secretary of Defense Pete Hegseth addressed the Middle East situation, stating the U.S. is taking action to secure navigation in the Strait of Hormuz. He emphasized the U.S. does not seek conflict but is prepared to respond if necessary. Hegseth noted the U.S. President has directed U.S. Central Command to restore commercial freedom of navigation in the strait. To date, U.S. commercial vessels have transited the waterway with support from U.S. Navy destroyers, keeping it open. Meanwhile, hundreds of ships are queuing to pass through. He accused Iran of long disrupting maritime traffic and attempting to “weaponize” critical shipping lanes for economic gain, calling their actions “unacceptable.” Hegseth warned Iran will face an “overwhelming firepower response” if it targets commercial shipping. Additionally, he said the U.S. is in close coordination with allies, shipping companies, and insurers to stabilize the situation. He also called on the international commu

On May 5th, Alphabet—Google’s parent company—will raise at least €9 billion via a record-breaking euro bond issuance. (FX168)

May 5: Brent crude fell to $110/bbl, down 2.08% intraday, per Bitget market data. WTI crude dropped below $104/bbl, with a 2.10% daily decline. News: U.S. Defense Secretary Hegseth said two U.S. commercial ships and a Navy destroyer have safely transited the Strait of Hormuz, with hundreds of global vessels still waiting to pass. “The two commercial ships, plus the destroyer, safely transited the strait—proving the waterway is open,” Hegseth stated. “We know Iran is embarrassed by this. They claim to control the strait, but that’s not the case.”

On May 5, S&P 500 futures extended gains to a midday high of 0.5%. (Jinse)

On May 5, a16z announced the launch of its $2.2 billion fifth crypto fund, Crypto Fund 5, which will invest in blockchain startups across all stages over the next decade. Partner Chris Dixon, among others, noted that while current market sentiment is relatively low and venture capital (VC) funding has partially shifted toward AI, the crypto industry’s “fundamentals are at a historical high,” positioning it well for long-term value creation. The fund will focus on practical applications built on crypto infrastructure—including stablecoins, payments, financial services, and decentralized systems—while also targeting niche areas like perpetual contracts, on-chain lending, prediction markets, and asset tokenization. a16z noted that the stablecoin market has grown to roughly $320 billion and continues to expand in cross-border payments and everyday transactions. As AI systems grow more complex and trust concerns intensify, the value of crypto networks for providing transparency and

On May 5, Chiara Scotti, Deputy Governor of Italy’s Central Bank, said Europe should assess whether extending the Single Euro Payments Area (SEPA) to tokenized payments is feasible to keep the euro at the center of the digital financial system. Scotti noted SEPA’s scalability, standardization, and interoperability make it a critical foundation for tokenized payments. Meanwhile, the European Central Bank (ECB) is pushing forward several related initiatives: the distributed ledger technology (DLT)-based settlement pilot “Pontes,” slated to launch in Q3 2026, and the long-term roadmap for a tokenized financial system, “Appia,” targeted for completion by 2028. The ECB has repeatedly flagged risks tied to stablecoins, arguing widespread use could trigger bank deposit outflows, erode banks’ lending capacity, and pose a potential threat to euro currency sovereignty. Officials emphasized tokenized central bank money could serve as key infrastructure to enable tokenized deposits and stabl