ZachXBT: Two Contracts Associated with Euro Stablecoin Issuer StablR Exploited

May 24 — Forbes contributor Zennon Kapron notes the recent surge in HYPE wasn’t primarily driven by ETF expectations, but rather by Hyperliquid’s built-in buyback mechanism. Kapron’s article states the protocol has deployed nearly all its transaction fee revenue — more than $11.6 billion, accumulated via its Assistance Fund — to repurchase HYPE on the open market. By comparison, the initial tens of millions of dollars in inflows from ETFs are dwarfed by the protocol’s buyback scale, which could reach hundreds of millions of dollars per quarter. This makes the buyback mechanism a far more core factor underpinning HYPE’s current price. However, this model relies entirely on trading volume: if the market turns bearish, both transaction fee revenue and the resulting buyback support will wane in tandem.

May 24 — The highly anticipated IPO of SpaceX, which is set to be the largest in history, is approaching. Elon Musk, SpaceX’s founder and CEO, dedicated his recent weekend to promoting the aerospace firm, inviting renowned American rapper Nicki Minaj to watch a Starship rocket launch test at SpaceX Starbase. Musk also made comments during the event’s live broadcast, sparking widespread discussions across online communities. In addition, Musk has put forward an ambitious goal: “SpaceX aims to conduct over 10,000 Starship launches per year — that translates to more than one launch per hour. By then, each flight will carry more than 200 tons of payload into a usable orbit.”

May 24 update: According to HyperInsight’s monitoring, the Ethereum whale dubbed "buddy" was partially liquidated in a long squeeze 17 hours ago—just before the broader crypto market staged a rebound. Shortly after that, they transferred $125,000 and continued adding to their Ethereum long position. As of press time, the whale holds 6,980.4181 ETH in a 25x leveraged long trade, valued at $14.79 million. Notably, Ethereum’s current price is only roughly 2% away from their liquidation threshold.

May 24 — According to monitoring from on-chain analytics platform LookOnChain, trader Evaded (@ICanPlug) locked in a $320,000 loss when closing a Bitcoin short position. The trader still maintains a long position of 53,500 ZEC, currently valued at $34 million, and is carrying an unrealized loss of $763,000.

May 24: The Russian government has expanded the details cryptocurrency miners and mining infrastructure operators are required to submit to tax authorities. Under the new decree, national registration records for these entities will now include the network addresses of their ASIC mining equipment. Russia’s Ministry of Finance stated this measure will help streamline oversight of digital asset transactions, investigations into regulatory violations, and enable grid operators to monitor infrastructure loads in mining-heavy regions. Existing regulations already mandate that Russian miners regularly update information such as miner manufacturer, model, serial number, algorithm, hash rate, power consumption, operating mode, mined cryptocurrency, output, mining pool, and links to online statistics. (Bits Media)

MAY 24 – Binance announced in an official statement that to comply with Australia’s local regulations, the cryptocurrency exchange will update its deposit and withdrawal procedures for Australian users starting July 1, 2026. Going forward, all Australian users will need to supply sender information for any incoming crypto deposits and beneficiary details for all crypto withdrawals from Binance. This rule applies to every cryptocurrency deposit and withdrawal transaction involving Australian users.