Data: Web3 social application Towns has over 400,000 total users, with over 200,000 token holders

Here’s the natural American English rewrite of the news brief: OpenAI CEO Sam Altman told employees in an internal speech on May 22 that even if the company files IPO paperwork quickly, it won’t go public right away. The exact listing timeline will hinge on market conditions and other factors—with September tagged as the earliest target, though the schedule remains flexible. Earlier reports noted OpenAI plans to confidentially submit its IPO application to regulators soon, possibly as early as this Friday. Insiders confirmed Goldman Sachs and Morgan Stanley are helping draft the company’s IPO prospectus. This week, OpenAI cleared a major IPO hurdle when Altman won a legal dispute against rival Elon Musk—but the firm still faces key challenges, the biggest being whether the market believes it can generate enough revenue to cover its massive data center spending commitments. Per PolyBeats monitoring, prediction market Polymarket puts the odds of OpenAI going public by August’s end at j

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