Hyperliquid's HYPE Spot TWAP Orders Surge, Net Inflow Reaches $7.05 Million in the Next 24 Hours

On Wednesday, May 21, the U.S. Federal Reserve (Fed) issued a notice of proposed rulemaking and a public comment request, proposing to establish restrictive "skinny master accounts" for fintech and crypto-linked banks that meet specific legal criteria. The proposal aims to provide limited payment path access to non-bank financial institutions, though these accounts will not carry the same safeguards as traditional bank accounts. Their functionality will be limited to clearing and settling transactions; they cannot accrue interest, nor will they be eligible for central bank tools such as the discount window or intraday credit. (Cointelegraph)

May 21 — Russian state news agency TASS reports that Ivan Chebeskov, Russia’s Deputy Finance Minister, stated at the “Russian Digital Financial System” conference that the Ministry of Finance, in partnership with the Central Bank of Russia, plans to finalize revisions to the cryptocurrency market regulation bill early next week. The updated bill will then be submitted to the State Duma for a second reading. Under a regulatory framework previously drafted by Russia’s central bank, digital currencies and stablecoins will be categorized as foreign exchange assets.

May 21: According to an official announcement, Binance’s HODLer Airdrop has launched its 64th project, Gensyn (AIGENSYN). Gensyn is an open infrastructure layer for artificial intelligence — a machine intelligent network. To qualify for this airdrop, users need to subscribe to Binance’s Capital Protected Yield Coin products (fixed-term and/or flexible-term) or on-chain yield coin products using BNB during the period from 8:00 AM (UTC+8) on May 4, 2026, to 7:59 AM (UTC+8) on May 7, 2026. The airdrop rewards are expected to be deposited into users’ Binance spot accounts within 5 hours of this official announcement.

May 21 — According to BitcoinTreasuries.NET, Elon Musk’s SpaceX and Tesla currently hold a combined total of 30,221 Bitcoin (BTC), valued at roughly $2.3 billion. SpaceX holds 18,712 BTC, while Tesla holds 11,509 BTC. When combined, the pair will become the fifth-largest publicly listed Bitcoin holding company globally.

May 21: Even though Google delivered one of its strongest I/O developer conference showings in recent years, the tech giant’s stock slipped 2% on the day. Bank of America is retaining its “Buy” rating on Alphabet Inc.—Google’s parent company. In a May 20 research report, BofA analysts Justin Post and Nitin Bansal reaffirmed their bullish outlook for Alphabet, setting a $430 price target. This implies roughly 10.9% upside from Alphabet’s current $387.66 share price. The analysts noted Google is no longer in a catch-up phase, citing product innovation from its Search and agentic AI announcements as core strengths. Their bullish case rests on three user metrics Google unveiled at I/O: AI Overviews (top-of-Search results feature) now have 2.5 billion users; Search’s AI Mode conversation layer boasts 1 billion users, growing at a quarterly double rate; and Gemini’s monthly active users (MAUs) jumped from 400 million a year ago to 900 million today. Bank of America interprets this grow

May 21: Decentralized trading card game (TCG) project Fantasy.top announced it will officially cease operations at the end of June. The team stated the project launched as an "attention market" and social finance experiment, emerging as one of the most viral consumer applications in the crypto industry. Fantasy.top added it has distributed over $20 million in player rewards and $3.2 million to Heroes, with 86% of players ultimately achieving profitability or breaking even. However, the team pointed to long-term limitations in its TCG-based economic model. Like consumer-facing crypto products such as TopShot and SoRare, the platform lacked sufficient transaction volume to sustain long-term operations. Over the past year, the team explored multiple directions—including market prediction, Mindshare tracking, and social graph betting—but failed to find a sustainable product-market fit. Additionally, Fantasy.top noted it will fully refund investors on a 1-dollar-for-1-dollar basis. Its ma