DEX

Intercontinental Exchange and Chicago Mercantile Exchange are urging US regulators to limit Hyperliquid's move into energy-related onchain derivatives, citing risks to oil and gas markets. Hyperliquid's HIP-3 framework, launched in January 2025, lets users create new perpetual futures markets by staking 500,000 HYPE tokens, valued at about $22.2 million.

Multicoin Capital appears to be trimming an AAVE position built via Galaxy Digital's OTC desk, after AAVE fell about 55% from its average entry. The firm received 338,005 AAVE between October 13 and November 25, 2025, implying roughly $73.7 million of exposure at about $218 per token. With AAVE trading near $97, the position is valued around $32.8 million, leaving it more than $40 million underwater.

THORChain was hit by a multi-chain exploit on May 15, 2026, with security alerts estimating losses at about $10 million across Bitcoin, Ethereum, BNB Chain, and Base. RUNE slid to $0.5146, down 11.32% over 24 hours, while tracking data showed the stolen assets concentrated in two main wallets.

THORChain halted trading on Friday morning following a cross-chain exploit estimated at over $10 million across Bitcoin, Ethereum, BNB Smart Chain, and Base. RUNE fell about 10% within hours to $0.52 as the team also stopped on-chain signing as a precautionary step.

RUNE slid about 15% within minutes after on-chain investigator ZachXBT said THORChain likely suffered a fresh exploit. The reported incident is estimated at over $7.4 million and allegedly involved activity across Bitcoin, Ethereum, Binance Smart Chain, and Base. RUNE moved from above $0.58 down to a two-week low near $0.50, where it later saw some support.

Hyperliquid's HYPE surged more than 20% at one point to $47, adding roughly $2 billion in market cap and nearing the top 10 altcoins by capitalization. The move followed Coinbase expanding USDC support on Hyperliquid under its AQA framework, alongside the debut of a 21Shares HYPE ETF and an upcoming Bitwise launch. Analysts using TD Sequential and other models warned a pullback could target $36, $33, or lower if resistance near $46 holds, while a break above $50 could invalidate the bearish view.

On May 14, 2026, the U.S. Senate Banking Committee voted 15-9 to advance the Senate version of the CLARITY Act, sending the crypto market-structure bill toward a full Senate vote. The proposal would split oversight of digital assets between the SEC and CFTC and set federal rules for trading platforms, DeFi projects, and token issuers. More than 100 amendments were filed ahead of the vote, and a failed 13-11 ethics amendment highlighted ongoing disputes that could resurface on the Senate floor.

On May 12, 21shares launched the 21shares Hyperliquid ETF (Nasdaq: THYP), aiming to give U.S. investors spot exposure to HYPE with staking rewards. THYP posted $1.8 million in first-day trading volume and about $1.2 million in net inflows, and carries a 0.3% management fee. The issuer also introduced the 21shares 2x Long HYPE ETF (Nasdaq: TXXH) with a 1.89% management fee.

The Senate Banking Committee released an updated, 309-page version of its Clarity Act around midnight Monday and is planning a markup later this week. The text incorporates revised restrictions around stablecoin rewards and includes language aimed at protecting non-custodial software developers, while leaving unresolved debates over ethics provisions tied to federal officials' crypto interests.

Ink Finance and Renegade were hit by separate exploits on May 11 and May 10, losing a combined $349,000 across Polygon and Arbitrum. Ink Finance’s Polygon treasury contract was drained for about $140,000, while Renegade said roughly $209,000 was taken from its legacy V1 Arbitrum deployment and about $190,000 has been returned by a white hat.