Shield: The KiloEx Attacker Tagged Address has returned approximately 1.4 million USDT to KiloEx

On May 22, per monitoring by OnchainLens, whale Evaded (@ICanPlug) hiked its Ethereum (ETH) long position to 18,100 coins, worth $38.5 million. The trader also maintains long positions in ZEC and HYPE, with the total value of its current positions posting an unrealized profit exceeding $7.6 million.

May 22: U.S. Rep. Nick Begich formally introduced the American Reserve Modernization Act (ARMA), backed by 16 initial cosponsors. The bill aims to codify the strategic Bitcoin reserve former President Donald Trump set up via executive order. Under ARMA, a dedicated strategic Bitcoin reserve would be established, all federally held digital assets consolidated, and these holdings locked in as a long-term reserve asset for at least 20 years. The legislation would also explore a budget-neutral approach to acquiring Bitcoin and put safeguards in place to prevent future administrations or Congress from liquidating the reserve arbitrarily.

May 22 — The Korea Communications Standards Commission has launched a review of prediction market platform Polymarket to determine whether the service constitutes illegal gambling under South Korean law. The review follows multiple recent complaints against the platform, with the commission citing precedents from France, Germany, and Italy — where Polymarket has already been blocked — as references for its assessment. Industry insiders are concerned the review could lead to Polymarket being barred in South Korea, forcing the platform to exit the Korean market entirely. Lawyers note that even if Polymarket’s servers are located overseas, the service may still fall under South Korean regulatory oversight if it offers localized services to Korean users.

May 22: JP Morgan analysts noted in a report that while tokenized money market funds can deliver returns to investors, they currently make up just around 5% of the total stablecoin market cap. Stablecoins reign supreme in the crypto ecosystem, with widespread use for trading, collateral management, settlement, cross-border payments, and as daily liquidity tools. By contrast, tokenized money market funds face what the analysts term “structural regulatory headwinds”: they’re typically classified as securities, requiring adherence to registration, disclosure, reporting, and transfer restrictions—barriers that make them hard to circulate freely on-chain. The analysts project that tokenized money market funds will continue to grow, but under today’s regulatory framework, they will struggle to exceed 10% to 15% of the stablecoin market. Unless policymakers adjust rules to offset the downsides of their securities classification, their main user base will remain limited: mostly crypto-native

May 22: Former Ethereum Foundation core developer Dankrad Feist is calling for raising at least $10 billion to launch a new Ethereum advocacy organization aimed at "saving" ETH. The existing Ethereum Foundation, a non-profit, holds less than 0.1% of ETH and generates no staking or fee income—creating a disconnect from Ethereum’s economic interests that Feist argues is hindering effective efforts to boost ETH’s price. Under his proposal, the new organization would need robust financial support, "battle-ready" leadership, and a board of directors with direct stakes in ETH to align their priorities with growing the cryptocurrency’s value. Part of the funds could come from staking revenue to ensure tighter alignment and accountability with the Ethereum ecosystem. This push comes amid ongoing talent exodus at the Ethereum Foundation: Feist himself left last year to join Layer 1 project Tempo, and two additional researchers resigned just this week—amplifying community frustration with the

On May 22nd, per monitoring from OnchainLens, an on-chain whale is accumulating a large amount of Bitcoin. Two newly created wallets—bc1qn and bc1q0—each received 500 Bitcoin from Galaxy Digital, totaling $38.84 million. Another separate address received 809 Bitcoin from FalconX, worth $62.74 million. The whale currently holds a combined total of 1,583.6 Bitcoin across these two wallets, valued at $124.42 million.