{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/63e26a946b77a10011ea5094/6a159eb883dd9b6e11acf313?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"May 26: Strategy Pays Down Debt, and Stablecoin Risks Resurface","description":"<h1>Brief Summary</h1><ul><li>Bitcoin is trading near $77K this morning, but the market still looks defensive after a 7% two-week decline.</li><li>Ethereum remains weaker than Bitcoin, trading around $2,100 and down more than 10% over the past two weeks.</li><li>Crypto investment products saw $1.47 billion in outflows last week, including $1.32 billion from Bitcoin funds and $223 million from ether funds.</li><li>The 11 U.S. spot Bitcoin ETFs alone lost $1.26 billion last week, following roughly $1 billion in outflows the week before.</li><li>Bitcoin is pinned between key on-chain levels near $77K and Deribit options positioning around the $75K put and $80K call strikes.</li><li>Strategy repurchased $1.5 billion in convertible debt for $1.38 billion, using cash instead of buying more Bitcoin.</li><li>Strategy still holds 843,738 BTC at an average price around $75,700 per coin.</li><li>Hyperliquid launched HIP-4 outcome contracts for macro events like inflation and Fed decisions, taking direct aim at prediction markets.</li><li>Spain opened disciplinary proceedings against Polymarket and Kalshi and ordered ISPs to block both platforms.</li><li>Nasdaq’s QBTC Bitcoin index options have conditional SEC approval, but still need CFTC clearance.</li><li>StablR froze USDR and EURR after an attacker minted $13.5 million in unbacked tokens through a 1-of-3 multisig weakness.</li><li>Kelp DAO says rsETH has been fully restored after the April Lazarus-linked exploit.</li><li>XRP Ledger is rolling out a maintenance upgrade to delete expired NFT offers and patch accounting bugs.</li><li>Stablecoin market value has reached about $322 billion, now larger than the FX reserves of 95 countries.</li><li>Tether plans to launch GELT, a Georgian lari stablecoin, with government support in Georgia.</li></ul><p><br></p>","author_name":"Matt Diemer"}