Odaily Planet Daily reports that Zhang Rongxuan (35, transliteration), a former Singapore Navy officer, stole 1.7 million Tether (nearly S$2.3 million) after learning that a friend had deposited cryptocurrency into a cold wallet. He spent the money on luxury watches, gambling, and paying off his mortgage. He has been sentenced to six years and ten months in prison. Zhang was reportedly a captain in the elite Naval Diving Unit at the time of the crime. After meeting the victim, he and his friend operated a non-fungible token (NFG) trading platform owned by Upstairs Research Pte Ltd and DiGi Selection Holdings Pte Ltd. After a security company tracked the cryptocurrency wallet, Zhang admitted that he committed the crime because he suffered huge losses due to the collapse of the FTX exchange. (Lianhe Zaobao)

According to Huoxun Finance, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, testified before the Senate that the design of the country's stablecoin regulatory framework is in full swing, with an expected launch in mid-to-late 2027. The previously planned launch in early 2027 was a more aggressive target.

According to Huoxun Finance, Nasdaq-listed Bitcoin mining company MARA Holdings has initiated a consent process for bondholders regarding its $600 million senior secured notes issued by Long Ridge Energy, proposing to amend the relevant indenture terms. Previously, on April 29, MARA signed an agreement to acquire 100% of the equity of Long Ridge's parent company. This transaction would trigger a "change of control" clause on the notes, theoretically requiring a 101% cash repurchase of all outstanding notes. MARA is now seeking bondholder consent to exclude the transaction from the definition of "change of control" and to list itself and its affiliates as "licensed holders."

According to Huoxun Finance, Nasdaq-listed IREN released its latest financial report, disclosing a $3.4 billion AI cloud contract with Nvidia for a five-year term. IREN will deploy air-cooled Blackwell GPU infrastructure for Nvidia. Meanwhile, IREN is accelerating its transformation from Bitcoin mining to AI cloud business, and the construction of data centers related to its $9.7 billion contract with Microsoft is progressing. As of April 30, IREN held $2.6 billion in cash. Revenue for the third quarter of fiscal year 2026 was $144.8 million, lower than the $184.7 million in the previous quarter. Net loss was $247.8 million due to non-cash impairment related to the obsolescence of mining equipment.

According to Huoxun Finance, Coinglass data shows that the cryptocurrency fear and greed index is currently at 37, down 2 points from yesterday. The average over the past 7 days is 43, and the average over the past 30 days is 31.