SEC staff clarified when crypto interface providers need broker-dealer registration

The Division of Trading and Markets issued guidance covering DeFi front-ends, wallet extensions and mobile apps. Summaries of the guidance say covered interfaces must not hold user funds or solicit specific trades. Law firms describe the relief as running for five years. It is staff guidance, not a Commission rule.

Source: The Defiant

#Regulation

Kelp DAO's rsETH bridge was exploited for about $292M

The attacker forged a cross-chain message and minted 116,500 unbacked rsETH, around 18% of circulating supply. LayerZero said the attack was likely carried out by North Korea's Lazarus Group, calling that a preliminary assessment. It also said Kelp ran a 1-of-1 verifier setup with no redundancy. Aave's total supplied fell from $45.8B to $35.7B in the aftermath, per Aavescan.

Source: The Block

#Security

Arbitrum Security Council froze 30,766 ETH tied to the Kelp DAO exploit

The roughly $71.5M was moved to an intermediary wallet and is no longer accessible to the original address. The council called it an emergency action taken after law enforcement input about the exploiter's identity. The funds can only be moved through further Arbitrum governance action.

Source: Decrypt

#Security

Justin Sun sued World Liberty Financial over frozen WLFI tokens

In a California federal court, Sun alleges the team froze his WLFI tokens, removed his governance vote and threatened to burn the tokens. WLF CEO Zach Witkoff called the claims meritless and said he expects a quick dismissal. These are allegations, and no court has ruled.

Source: The Block

#Legal

Senate Banking Committee advanced the CLARITY Act 15 to 9

Democrats Ruben Gallego and Angela Alsobrooks voted yes alongside all Republicans on the committee. The bill (H.R. 3633) now goes to the full Senate, where it needs 60 votes to overcome procedural debate. If the Senate passes it, it goes to the President.

Source: CoinPaprika

#Regulation

SoFi launched SoFiUSD, a stablecoin issued by a US national bank

It is available to about 15 million SoFi members in the banking app, redeemable 1:1 through SoFi Bank, and runs on Ethereum and Solana. SoFi describes it as the first stablecoin from a US national bank offered on a banking platform.

Source: Loeb & Loeb

#Stablecoins

Vanneck Capital backs Cambria with $125K

Cambria is a real-money sandbox MMO where players put crypto at risk in a PvP and PvE economy with onchain significance. It has three game modes, Box, Draw and Classic, and publishes onchain metrics on public dashboards. The game moved into soft launch in April.

Disclosure: Vanneck Capital
#Funding

US spot bitcoin ETFs logged nine straight days of outflows, a record

About $2.84B left the funds from May 15 through May 28, per Farside data. BlackRock's IBIT accounted for roughly $2.04B of that. The previous record was an eight-session streak in February 2025.

Source: Cointelegraph

#ETF

CME sued the CFTC over its approval of bitcoin perpetual futures on Kalshi

Filed in the US District Court for the District of Columbia, the suit challenges the CFTC's May 29 order approving KalshiEX's BTCPERP contract and its accompanying policy statement. CME argues perpetual contracts are swaps, not futures, and that the approval was arbitrary and capricious. The CFTC has not yet ruled on the claims in court.

Source: Lowenstein Sandler

#Derivatives

Ethereum Foundation cut about 20% of its staff in a new five-cluster structure

The foundation announced the reorganization on its blog, eliminating 54 positions. The new structure has five domain clusters (protocol, access, user, community and institutional layers), plus dedicated operations and management clusters.

Source: The Block

#Ethereum