CoinList: Flying Tulip Token Sale Has Concluded, Nearly $10 Million Committed

On May 5th, the American Innovation Project (AIP)—a U.S. tech policy advocacy group—announced it has added two new policy researchers. Among the hires is Jacob Smagula, who joins Rep. Ritchie Torres’ team to focus on digital asset-related legislation. Smagula previously worked in government affairs at Bitcoin mining firm MARA and currently conducts policy research at the DeFi Education Fund. He brings experience in the crypto industry and regulatory communications to the role. Founded in 2025, AIP is backed by organizations including Digital Currency Group. Its mission is to provide congressional members with expertise and policy support on emerging technologies like artificial intelligence (AI) and digital assets. This appointment is seen as a further signal of professionalization in U.S. crypto legislation and regulation.

May 5th — Senior security officials from more than a dozen U.S. states are urging AI firms to include their states in advanced model testing, noting developers currently prioritize collaboration with Washington and big tech companies over state entities. In a Tuesday letter to OpenAI, Anthropic, and the CEOs of Microsoft and Google, a coalition of state chief information security officers (CISOs), homeland security advisors, and tech officials emphasized states remain excluded from early access programs. The letter reads: “While we value new cybersecurity initiatives, we’re deeply concerned current practices prioritize collaboration with federal partners and big tech companies — essentially shutting out state and local entities that deliver and secure many critical national services.”

**May 5th Brief** Arthur Hayes said at Consensus 2026 that while 99% of altcoins may eventually go to zero, this trend mirrors historical turnover among S&P 500 components—and doesn’t signal the industry’s end. Hayes noted roughly 98% of S&P 500 companies have been replaced or removed since 1929, framing market purging as a normal part of the cycle. The altcoin ecosystem, he added, will persist and evolve.

On May 5, Coinbase announced a seven-figure strategic investment in Centrifuge, naming it the primary asset tokenization platform for its in-house public chain Base. Under the partnership, Centrifuge will serve as the core infrastructure for issuing tokenized assets on Base, supporting on-chain trading of real-world assets (RWAs) like ETFs, credit funds, and structured products. The two parties have collaborated previously—including launching the first compliant on-chain S&P 500 index fund on Base. Coinbase noted that Centrifuge was chosen for its institutional-grade infrastructure, compliance capabilities, and scalability. The platform offers an end-to-end solution spanning asset structuring, tokenization tools, yield interfaces, and compliance support. This partnership is viewed as a key step in Coinbase’s efforts to strengthen its asset tokenization strategy, with potential future expansion to include more high-liquidity traditional financial assets.

May 5 (AXIOS) — A U.S. official and a source familiar with the matter said Sunday that a senior Trump administration official had notified Iran of an upcoming U.S. "guidance" operation to escort ships through the Strait of Hormuz, warning Tehran against interfering. The private communication signals the White House is trying to lower the risk of potential escalation. Still, Iran has persisted in attacks on U.S. Navy vessels, commercial ships and the United Arab Emirates despite the warning. On Tuesday, U.S. Defense Secretary and Joint Chiefs of Staff Chairman Gen. Kane downplayed Iran’s attacks, asserting the ceasefire agreement remains in effect. Some U.S. and Israeli officials, however, say if the diplomatic deadlock continues, President Trump could order a resumption of hostilities later this week.

On May 5, the United Arab Emirates (UAE) said its air defense systems are responding to a missile threat. Gains on the S&P 500 and Nasdaq 100 rapidly narrowed. (IG)