Weekly Recap | CLARITY Act Passes U.S. Senate Committee, U.S. April PPI Hits 6%, Echobit Anniversary
2026.05.18
Last Week Review (May 11 – May 17)
Last week, escalating tensions in the Middle East and renewed strain in U.S.–Iran relations pushed Bitcoin briefly below the $77,000 level. U.S. spot Bitcoin ETFs recorded nearly $1 billion in weekly outflows, ending a six-week streak of net inflows. Sharp volatility also triggered multiple large-scale liquidations across the market.
On the regulatory front, however, progress continued as the U.S. Senate Banking Committee approved the CLARITY Act, moving the bill closer to final congressional review.
This week, the crypto market is expected to focus on macro liquidity tightening and broader market repricing, while major token unlocks including ZRO, KAITO, and PYTH may further increase volatility.
This article provides a quick recap of last week’s major crypto developments and previews the key events and trends to watch in the week ahead.
Market Pulse
Harvard University fully exited its Ethereum ETF holdings, while Abu Dhabi sovereign wealth funds increased IBIT exposure
Interactive Brokers launched a unified prediction market trading service
Hyperion DeFi disclosed HYPE token holdings exceeding 2 million tokens, with Q1 net profit reaching $8.8 million
Interest rate futures now indicate over a 50% probability of a Federal Reserve rate hike by January next year
Korea Investment Securities and OKX advanced joint acquisition discussions involving Coinone shares
The CLARITY Act has officially passed the U.S. Senate Committee and is awaiting final congressional review
U.S. April PPI YoY rose to 6%, the highest level since December 2022
BlackRock submitted a new tokenized fund application to the U.S. SEC and once again selected Securitize as its partner
Funding & M&A
A total of 13 funding rounds were completed last week, raising more than $530 million, primarily across infrastructure and DeFi sectors:
Stablecoin yield project Osero raised $13.5 million led by Sky Ecosystem
AI trading lab Nof1 secured $15 million led jointly by SUI Group and Karatage
Circle raised $222 million through the native token presale of its new blockchain Arc, reaching a valuation of approximately $3 billion
Blockchain analytics firm Elliptic raised $120 million at a $670 million valuation
Financial infrastructure platform Stitch completed a $25 million Series A led by a16z
Turnkey secured $12.5 million in strategic financing with participation from Circle Ventures and Sequoia Capital
DACC completed a $10 million strategic financing round backed by Fosun International and others
Stablecoin-focused digital bank Fasset raised $51 million in Series B financing with participation from SBI Group
Augustus announced a $40 million financing round and received a rare U.S. OCC banking license
Bitcoin custody platform Onramp completed a $12.5 million Series A at a $135 million valuation
French listed company Capital B raised €15.2 million to accelerate its Bitcoin treasury strategy
Policy & Compliance
Galaxy’s Head of Research estimated the CLARITY Act could potentially reach Trump’s desk for signing as early as August
CME and the New York Stock Exchange urged U.S. regulators to review Hyperliquid over concerns related to market manipulation and sanctions evasion risks
The U.S. CFTC issued a no-action letter regarding event contract data reporting
The Bank of England confirmed it will begin accepting stablecoin applications, viewing them as “a new form of money”
Vietnam’s Deputy Minister of Finance stated that the country may launch a regulated crypto asset market in Q3
Echobit Highlights
Echobit May Futures Trading Competition continued to gain momentum, driving market participation.
Echobit May New Listing Trading Frenzy launched, expanding trading opportunities for users.
Echobit Mother’s Day Special campaign went live, creating festive community engagement.
Echobit Anniversary Carnival officially launched with multiple rewards and giveaways.
Echobit Anniversary Mania campaign kicked off, further heating up the anniversary celebration.
Echobit Weekly Hot Topic continued updating with trending community discussions.
Echobit Roll The Dice interactive campaign launched, enhancing entertainment and user participation.
Echobit Anniversary Celebration campaign officially went live to celebrate platform growth with the community.
Echobit Thursday Frenzy weekly interaction campaign continued to energize community engagement.
Echobit Guess The Blurry Coin challenge launched, increasing user interaction and participation.
Echobit Shadow Coin Challenge campaign went live, boosting community discussion and engagement.
Next Week Preview (May 18 – May 24)
The G7 Finance Ministers and Central Bank Governors Meeting will take place from May 18 to 19
Meta plans to lay off approximately 10% of its workforce on May 20, affecting around 8,000 employees
NVIDIA is set to release its Q1 FY2027 earnings report
The Federal Reserve will publish its FOMC meeting minutes
Y Combinator will conduct its first in-person interviews for crypto and fintech startups in New York on May 21
A UK court has allowed Blue Sky Gray victims to submit evidence registration before May 22
A New York judge delayed Aave’s emergency motion regarding the unfreezing of $71 million in ETH, requesting both parties to submit supplemental statements before May 22
Echobit will continue tracking global crypto developments, focusing on market trends, regulatory updates, and investment opportunities — helping users stay ahead through every market cycle.