Daily News: Cetus Suffers $220 Million Exploit, Kraken to Offer Over 50 Tokenized Stocks and ETFs

U.S. Initial Jobless Claims for the Week Ending May 17 Declined to 227,000. Trump's Tax Reform Bill Narrowly Passes in the House. SEC Accepts TRX Staking Application. Meanwhile, Sui Network's Largest DEX Cetus Exploited for $220 Million, Kraken to Offer Over 50 Tokenized Stocks and ETFs, Huma Finance Unveils Tokenomics and Strategy Announces $2.1 Billion On-Exchange Preferred Stock Issuance Plan.

U.S. Initial Jobless Claims for the Week Ending May 17 Recorded at 227,000, Below Expectations of 230,000 According to Jin10.com, U.S. initial jobless claims for the week ending May 17 came in at 227,000, the lowest level since the week ending April 19. This figure was slightly below market expectations of 230,000.

Trump's Tax Reform Bill Narrowly Passes in the House

According to Jin10.com, on Thursday morning local time, U.S. President Donald Trump’s tax reform bill narrowly passed in the House of Representatives with a vote of 215 to 214, with one abstention. The bill advances a multi-trillion-dollar package that increases U.S. debt to avoid a year-end tax hike. The legislation will now move to the Senate, where Republican groups are urging significant amendments. Lawmakers plan to vote on its approval before August, including measures to raise the U.S. debt ceiling by $4 trillion. The Treasury Department predicts that without raising the ceiling, the U.S. could face a default as early as August or September, adding urgency to the timeline.

U.S. House to Review Cryptocurrency Market Structure Bill on June 10

According to Eleanor Terrett, U.S. House Financial Services Committee Chair French Hill has scheduled the review of the House cryptocurrency market structure bill for June 10.

SEC Delays XRP and LTC ETF Approvals but Accepts TRX Staking Application

Bloomberg analyst James Seyffart reports that the U.S. Securities and Exchange Commission (SEC) has delayed decisions on several cryptocurrency ETF applications. These include XRP ETF applications from Bitwise and CoinShares, an LTC ETF application, and Fidelity’s spot Bitcoin ETF application. Meanwhile, the SEC has accepted Canary Funds’ application for TRX staking, marking one of the few positive developments. Seyffart notes that if the SEC were to approve these new asset classes early, the earliest possible date would be late June or early July, though it is more likely to happen in early Q4.

CFTC Commissioner: Cryptocurrency Perpetual Futures Can Be Traded in the U.S.

According to Cointelegraph, U.S. Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger stated that cryptocurrency perpetual futures contracts can be traded in the United States.

Trump Faces Protests During Cryptocurrency Dinner Event

Bloomberg reports that U.S. President Donald Trump hosted a cryptocurrency dinner at his golf club outside Washington, D.C. During the event, protesters gathered outside, chanting "Shame" to express their dissatisfaction. Trump later posted on Truth Social, stating, "The U.S. is leading in cryptocurrency, Bitcoin, and related fields, and we will continue to maintain this advantage!"

SUI Co-Founder: $160 Million of the Cetus Stolen Funds Has Been Frozen After A $220 Million Exploit

On May 22 at 1:45 PM UTC, Cetus Network, the largest decentralized exchange (DEX) on the Sui blockchain, was targeted in a major exploit affecting its liquidity pools. The attack resulted in an estimated loss of $220 million. According to Cointelegraph, Sui co-founder and Chief Product Officer @EmanAbio confirmed at 2:38 PM UTC that approximately $160 million of the stolen assets had been frozen and would be returned to Cetus liquidity pools. Following the incident, the price of Cetus's native token plummeted 40%, dropping from $0.25 to $0.15.

18th Binance Wallet Exclusive TGE ALLO Open to Binance Users with over 195 Alpha Points

Real-world asset (RWA) project ALLO launched its token via the 18th Binance Wallet Exclusive TGE event between 12:00 AM and 10:00 AM (UTC) on May 22. Users with Alpha Points exceeding 195 were eligible to participate in the event.

Huma Finance Unveils Tokenomics: 5% of the 10 Billion Total Supply Would be Airdropped

Huma Finance has released its tokenomics details, with a total supply of 10 billion HUMA tokens distributed as follows:

1. Initial airdrop: 5%

2. Liquidity providers (LP) and ecosystem incentives: 31%

3. Exchange listings and marketing: 7%

4. Market-making and on-chain liquidity: 4%

5. Presale: 2%

6. Early investors: 20.6%

7. Team and advisors: 19.3%

8. Protocol treasury: 11.1%

HUMA’s initial circulating supply is 17.33%, which includes the 5% airdrop, 7% for exchange listings and marketing, 4% for market-making and on-chain liquidity, 1% for the protocol treasury, and 0.33% for strategic partner token swaps.

Kraken to Offer Over 50 Tokenized Stocks and ETFs, Including Apple, Tesla, and NVIDIA

Wall Street Journal reports that Kraken will offer more than 50 tokenized stocks and ETFs, covering companies such as Apple, Tesla, and NVIDIA.

Strategy Announces $2.1 Billion On-Exchange Preferred Stock Issuance Plan

According to an official announcement, Strategy (NASDAQ: MSTR, STRK, STRF) has signed a sales agreement to issue up to $2.1 billion in 10.00% Series A perpetual preferred stock.

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