A former Singapore naval officer, Zhang Rongxuan, aged 35, has been sentenced to six years and ten months in prison for stealing 1.7 million Tether tokens. According to Odaily, Zhang took the cryptocurrency from a friend's cold wallet and spent it on luxury watches, gambling, and paying off his mortgage. At the time of the crime, Zhang was part of the elite Naval Diving Unit with the rank of captain. He was acquainted with the victim and co-managed a non-fungible token trading platform, which was affiliated with Upstairs Research Pte Ltd and owned by DiGi Selection Holdings Pte Ltd. Following an investigation by a security company that tracked the cryptocurrency wallet, Zhang admitted to committing the crime due to significant financial losses from the collapse of the FTX exchange.

MARA Holdings, a Nasdaq-listed Bitcoin mining company, has initiated a consent solicitation process for holders of Long Ridge Energy's $600 million senior secured notes to amend the terms of the related covenants. According to ChainCatcher, this move follows MARA's agreement on April 29 to acquire 100% equity of Long Ridge's parent company. The acquisition would trigger a 'change of control' clause in the notes, theoretically requiring MARA to repurchase all outstanding notes at 101% of their value in cash. MARA is seeking consent from noteholders to exclude this transaction from the 'change of control' definition and to designate MARA and its affiliates as 'permitted holders.'

Canada's senior deputy governor, Carolyn Rogers, announced during a Senate testimony that the design of Canada's stablecoin regulatory framework is underway. According to ChainCatcher, Rogers indicated that the initial target for early 2027 was ambitious, and the regulations are now expected to be introduced by mid to late 2027.

Nasdaq-listed company IREN has announced a significant AI cloud contract with Nvidia valued at $3.4 billion, according to ChainCatcher. The agreement involves IREN deploying air-cooled Blackwell GPU infrastructure for Nvidia over a five-year period. The company's latest financial report indicates a strategic shift from Bitcoin mining to AI cloud services. This transition is highlighted by an ongoing $9.7 billion data center construction project in collaboration with Microsoft. As of April 30, IREN held $2.6 billion in cash. For the third quarter of fiscal year 2026, IREN reported revenue of $144.8 million, a decrease from the previous quarter's $184.7 million. The company also faced a net loss of $247.8 million, attributed to non-cash impairments related to obsolete mining equipment.

Ethereum spot ETFs experienced a notable net inflow of $3.5747 million yesterday. According to NS3.AI, BlackRock's ETHB led the charge with the largest single-day net inflow, amounting to $3.5747 million.

DMG Blockchain has announced the establishment of a new subsidiary, DMG Infrastructure, to focus on artificial intelligence and high-performance computing (AIHPC) operations. According to ChainCatcher, the company plans to transition its data centers towards AI and HPC business activities. In April, DMG Blockchain mined 21 Bitcoin, a decrease from the 23 Bitcoin mined in March. By the end of April, the company held 389 Bitcoin, down by 9 from the previous month. The company's computing power also saw a decline, standing at 1.54 EH/s compared to 1.63 EH/s in March.

A Manhattan federal judge has permitted Aave to proceed with the transfer of $71 million in frozen ETH associated with last month's North Korea-linked rsETH exploit. According to NS3.AI, Judge Margaret Garnett adjusted a restraining notice on Arbitrum DAO, allowing delegates to conduct a binding onchain vote. She clarified that participants in the transfer would not breach the freeze. The ETH is set to be transferred to a wallet managed by Aave LLC, although the move is contingent upon a separate onchain governance vote.

Decentralized derivatives protocol Synthetix has announced the launch of its Time-Weighted Average Price (TWAP) order functionality on its mainnet. According to Foresight News, this feature is now available on Synthetix Perps. The TWAP orders allow large orders to be divided into smaller segments, which are automatically executed in batches over a user-defined period ranging from 5 minutes to 24 hours.

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