Ripple, JPMorgan, Mastercard and Ondo Finance have pulled off the first cross-border tokenized US Treasury redemption settled in near real time, according to details shared this week. The transaction routed through XRP Ledger, Mastercard's Multi-Token Network, and JPMorgan's Kinexys platform — a three-way infrastructure test that shows how traditional finance and blockchain rails can mesh for institutional settlements.
White House signals Bitcoin Reserve update
Separately, White House digital asset official Patrick Witt said the US will announce new details on the Strategic Bitcoin Reserve 'in the coming weeks.' Witt cited custody concerns following a recent $46 million exploit at the US Marshals Service — a reminder that even as institutions move toward tokenized assets, security gaps remain at the government level.
Markets rotate to equities, crypto slips
The broader crypto market felt the gravity of a red-hot equities session. Total market cap slid 0.59% to $2.65 trillion, losing roughly $15.83 billion from the prior day's close. Money rotated into US stocks after the S&P 500 hit an all-time high above 7,365, fueled by AMD's AI earnings surge (+16.29%) and optimism around a potential Iran deal that pushed oil prices lower.
Bitcoin got rejected at $82,838 with a hidden bearish divergence on the daily chart. It was trading at $80,925 at press time, down 0.63% on the day. Immediate support sits at $77,423, with further floors at $74,084 and $71,385. On the upside, resistance remains at $82,820.
Upbit lists B3 gaming token
South Korea's largest exchange, Upbit, listed the B3 trading pair against the Korean won on May 7. B3 is a layer-3 gaming chain built on Base using the OP Stack. The listing gives Korean retail a direct on-ramp to a niche gaming ecosystem.
Pudgy Penguins flashes a flag
Pudgy Penguins (PENGU) dropped about 6% over the past 24 hours to $0.0104, but the chart is showing a bullish pole-and-flag pattern. If the flag breaks above the upper trendline, the setup suggests potential 100% upside — though that's a big if in a market where capital is flowing to equities.
