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20 May 2026, 19:53

Cardano approves 66.68 million ADA for security upgrade

🚨 Cardano has approved a huge 66.68 million ADA vote for smart contract security. Power comes from the collective backing of top $ADA delegates in the ecosystem. 🛠️ Key development: Cardano will introduce formal verification tools and an easy-access developer setup. Continue Reading: Cardano approves 66.68 million ADA for security upgrade The post Cardano approves 66.68 million ADA for security upgrade appeared first on COINTURK NEWS .

20 May 2026, 19:50

Morgan Stanley Files Amended Solana ETF Application With SEC; Proposed Ticker ‘MSOL’

BitcoinWorld Morgan Stanley Files Amended Solana ETF Application With SEC; Proposed Ticker ‘MSOL’ Morgan Stanley has submitted an amended application for a spot Solana (SOL) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), according to Bloomberg ETF analyst James Seyffart. The filing, reported on March 25, 2026, proposes the ticker symbol ‘MSOL’ for the fund. The amendment did not include details regarding management fees or other operational expenses. Details of the Filing The amended registration statement, filed with the SEC, updates Morgan Stanley’s previous application for a spot Solana ETF. The proposed ticker ‘MSOL’ follows a pattern seen in other single-asset crypto ETFs, where the ticker often combines the issuer’s brand with the underlying asset’s symbol. The omission of management fee information suggests that fee details may be disclosed in a subsequent filing closer to a potential launch date, pending SEC approval. Market and Regulatory Context The filing comes amid a broader push by major financial institutions to launch spot crypto ETFs following the SEC’s approval of spot Bitcoin ETFs in early 2024 and spot Ethereum ETFs later that year. Solana, the fifth-largest cryptocurrency by market capitalization, has attracted growing institutional interest due to its high transaction throughput and active developer ecosystem. However, the SEC has not yet approved any spot Solana ETF, and the regulatory landscape remains uncertain. The agency has previously raised concerns about market manipulation and investor protection in crypto markets. What This Means for Investors If approved, a spot Solana ETF would allow traditional investors to gain exposure to SOL without directly holding or managing the cryptocurrency. This could broaden Solana’s investor base and potentially increase liquidity. However, the SEC’s review process is typically lengthy, and approval is not guaranteed. The filing by Morgan Stanley, a major global financial institution, signals continued institutional confidence in the long-term viability of digital assets as an asset class. Conclusion Morgan Stanley’s amended Solana ETF application with the proposed MSOL ticker represents a notable step in the ongoing evolution of crypto investment products. While the absence of fee details and the pending SEC decision leave key questions unanswered, the filing underscores the persistent demand for regulated crypto exposure. Investors should monitor SEC announcements and subsequent filings for further clarity on the timeline and terms of the proposed fund. FAQs Q1: What is a spot Solana ETF? A spot Solana ETF is a regulated investment fund that holds actual SOL tokens, allowing investors to buy shares that track the price of Solana without needing to purchase or store the cryptocurrency themselves. Q2: Why is the ticker ‘MSOL’ significant? The ticker ‘MSOL’ combines Morgan Stanley’s brand (‘M’) with Solana’s ticker (‘SOL’), a common convention for single-asset crypto ETFs. It distinguishes the fund from competitors and signals the issuer’s identity. Q3: When might the SEC decide on this application? There is no set timeline. SEC reviews of ETF applications typically take several months to over a year, and the agency can delay decisions or request further amendments. A final ruling could come in 2027 or later. Q4: Does this filing guarantee approval? No. The SEC has not approved any spot Solana ETF to date. While Morgan Stanley’s filing is a significant development, regulatory hurdles remain, including concerns about market surveillance and investor protection. This post Morgan Stanley Files Amended Solana ETF Application With SEC; Proposed Ticker ‘MSOL’ first appeared on BitcoinWorld .

20 May 2026, 19:45

Drift Protocol triggers frustrated response with Insurance Fund withdrawal update

Drift Protocol has announced that its Insurance Fund depositors will be able to pull their stakes once the protocol restarts. However, the update drew a frustrated response from a user base that seems to have grown visibly impatient with the pace of Drift’s recovery process. The update, which was shared on X on Wednesday, May 20, comes seven weeks after a $280 million exploit forced the Solana-based exchange offline. Since the April 1 attack, which is linked to a DPRK-affiliated threat actor, Drift’s community has pushed back at the platform’s recovery milestones. A governance proposal to convert remaining borrow/lend assets into stablecoins resulted in accusations of unfairness. Redemption terms that penalize early withdrawers have also drawn criticism. And now, an update confirming what depositors already knew was their right is not being seen as reassurance but more of a reminder of how far recovery still has to go. What is Drift’s Insurance Fund for? Drift’s Insurance Fund was put in place as the protocol’s first line of defense when leveraged positions go bankrupt. Users staked USDC, SOL, BTC, or ETH into asset-specific pools and earned a share of trading and liquidation fees in exchange for absorbing bad debt when liquidations fall short. The latest update by Drift confirms this feature and its use case, stating that the fund “exists to maintain protocol solvency in the event of bankruptcies.” However, since the protocol has been paused since April 1, Insurance Fund stakers have been locked out of their capital with no yield accruing. Now, users who fall under this category can look forward to receiving their funds when the protocol goes live again. Why is Drift’s recovery plan drawing criticism? Drift published its recovery framework on May 5, laying out a token-based compensation system. The protocol stated that “Every wallet impacted by the April 1 exploit will be issued a recovery token that represents their verified loss and proportional claim on the recovery pool.” According to Drift, each recovery token is equivalent to $1. It also mentioned in the same thread that it has created a recovery pool, which will be seeded with roughly $3.8M, which is the protocol’s remaining assets converted to USDT . It stated that redemption opens after the recovery pool crosses $5 million, and it currently plans to grow that pool through three capital streams, which are quarterly exchange revenue, the $127.5 million commitment made by Tether to support the relaunch, and up to $20 million from strategic partners. Users who redeem early are going to forfeit their remaining claim and will receive a pro-rata share of whatever the pool holds at that point. The next day, on May 6, Drift made a post on X to clarify its position, stating, “Users are able to redeem at any time after redemption opens; however, early redemption occurs at a discount to the full claim value as users receive a pro-rata share of the current pool.” It added that “Holders who wait may benefit from a higher recovery price as the pool continues to grow.” However, the update did not receive a warm reception from its community, with one user on the Drift governance forum calling the DAO vote on reallocating Insurance Fund assets “effectively an attempt at money laundering” and warning that “anything other than a full return of funds would constitute wire fraud.” Others questioned why governance was voting on converting remaining spot assets to stablecoins before Drift or Tether had disclosed specific contribution amounts to the recovery pool. Another commenter pointed out that the proposal “favors simplicity over distributional fairness,” pointing out that some users had spot-only exposure to assets that were never actually drained. The DeFi United comparison compounds the frustration Cryptopolitan has previously reported on the rsETH bridge recovery coordinated through DeFi United following the April 18 LayerZero exploit. That process moved from exploit to operational restart in 26 days, with Aave transferring the first 25,000 rsETH tranche back into the bridge adapter on May 13. The contributions and ecosystem supports ensured that the affected platforms did not have to negotiate with the attacker. A federal court order cleared the way for recovered ETH to move, and contracts began unpausing for withdrawals within 24 hours. For Drift’s users, it is hard to hide frustrations, especially after observing how the Aave and KelpDAO incident was handled, especially for an incident that occurred a few weeks after the Drift exploit. What will happen to Drift users? Drift has said it aims to relaunch in Q2 2026 as a leaner, perpetual-focused exchange. Key governance votes on the recovery pool methodology and Insurance Fund treatment are still pending. The protocol’s TVL sits at roughly $243 million, according to DefiLlama , down from over $550 million before the exploit. The DRIFT token trades near its all-time low at $0.028. Drift’s fortunes are now tied to its relaunch timeline and how well its revenue-based recovery can credibly close a $280 million gap, as it will go a long way in determining if what it left of its community sticks around. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

20 May 2026, 19:36

Price predictions 5/20: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA, ZEC, BCH

Bitcoin looks on track for a rally toward $80,000 while HYPE, ZEC and a handful of altcoins are pushing toward their range highs.

20 May 2026, 19:30

Euro stablecoin project Qivalis adds 25 new members

The joint venture of European banks Qivalis, set to launch a euro-backed stablecoin this year, has added 25 new members. The financial institutions from a number of EU nations are bringing the total number of participants in the ambitious project to 37. Qivalis adds new members in major expansion Over two dozen banks have joined Qivalis, the consortium established to issue a euro-denominated alternative to dollar-pegged stablecoins, which dominate this segment. Some of Europe’s largest banking organizations teamed up to realize the idea a few months ago. Others have backed it since. And the current wave is a significant increase in participation. Announcing its latest expansion in a post on X on Wednesday, the group also unveiled that the cryptocurrency is slated to appear in the second half of 2026. Qivalis took the opportunity to reiterate its main goal – to issue a “native, regulated euro in the on-chain financial system.” We are not just building a euro stablecoin; we are laying the European financial rails of the future. 25 new banks have joined Qivalis today – bringing our consortium to 37 major institutions united behind one mission: a native, regulated euro in the on-chain financial system,… pic.twitter.com/J3DTm2uc0y — qivalis (@qivaliseu) May 20, 2026 Commenting on the inclusion of new members, the Chief Financial Officer of Qivalis, Dutch financial and digital assets expert Floris Lugt, described the development as a “revolutionary moment,” stating: “The potential of blockchain technology has consistently gone unrealized because banks did not support it. That is about to change.” Two banks from the Netherlands, ABN Amro and Rabobank, have now joined the Amsterdam-based consortium. ING was among its founders last fall. Financieele Dagblad, the country’s leading business daily, which quoted Lugt, wrote that the move marks a significant shift in the stance of major Dutch banks towards digital currencies and assets. Nine banks launched the project in September 2025, including giants like ING, the Belgian KBC, Italy’s UniCredit, and the Austrian Raiffeisen. France’s BNP Paribas became part of it later. Spain’s Banco Sabadell was accepted earlier in May, taking the total to 12 banks at the time, as reported by Cryptopolitan. Another five Spanish banks were added this week. With the 25 joining now, the club already numbers 37 banks, coming from all corners of the Old Continent, from Iceland and Sweden, to Poland, Italy, and Greece. Qivalis CEO Jan-Oliver Sell called the expansion of the consortium “a giant leap toward an open and compliant on-chain ecosystem for the euro”. Euro stablecoin to enter dollar-dominated space Unlike decentralized cryptocurrencies like Bitcoin and Ethereum, most stablecoins are tied to a fiat currency by their issuer to keep their price stable. They are widely used in crypto trading. The global stablecoin market, which according to Citigroup may reach $4 trillion this decade, is heavily dominated by digital currencies pegged to the U.S. dollar, such as Tether’s USDT and Circle’s USDC. EU officials have been expressing concerns that this growth may flood Europe with digitalized dollars and undermine Frankfurt’s monetary policy. However, that hasn’t translated into support for euro stablecoins. The case for them is “far weaker than it appears,” according to a recent statement by ECB President Christine Lagarde. Earlier this month, she warned that even they present a risk to financial stability and said that stablecoins are not an efficient way to strengthen the international role of the common currency. The expansion of the Qivalis project comes as the European Union is trying to implement its Markets in Crypto Assets (MiCA) regulations across all member states. The comprehensive framework was adopted in 2023 and came into effect in 2024, but not all EU countries have transposed its provisions into national law yet. Representatives of AIB and Bank of Ireland, two Irish banks that are joining Qivalis now, insisted in comments for the local press that the euro stablecoin will be fully compliant with MiCA. Qivalis CFO Floris Lugt assured the group shares the EU’s concerns and is addressing them while developing the regulated crypto, which will be backed by bank deposits and other assets. The smartest crypto minds already read our newsletter. Want in? Join them .

20 May 2026, 19:30

Pundit Predicts What Will Happen To XRP When Exchanges Run Out Of Supply

XRP’s supply mechanism is one of the most controversial talking points in the crypto market. XRP exchange reserves have been falling for months, and the on-chain numbers are glaring. Now, a crypto pundit on X is connecting that structural shift to a chain of events that could send the XRP price into territory the market has never seen. XRP Supply Shock Could Push Exchanges Into A Liquidity Crisis A crypto pundit known as DelCrxpto has added an interesting angle to a scenario where XRP demand overwhelms available exchange supply and forces a new liquidity structure around Ripple’s XRP reserves. Whenever demand rises faster than available supply, price must adjust. XRP could eventually reach a point where exchanges struggle to source enough spot supply to meet demand from buyers, institutions, and liquidity providers. Related Reading: Trillion-Dollar Italian Bank Moves To XRP, But How Much Have They Bought? The pundit predicted that exchanges will eventually run out of XRP supply, demand will explode, and the entire XRP supply ecosystem could even face the risk of freezing. However, he believes such a squeeze would not only affect price but also force the market to create new liquidity channels from derivative contracts. Interestingly, the pundit also predicted that Ripple will step in by deploying portions of its XRP reserve as a liquidity pool and issuing XRP derivative contracts to exchanges. These exchanges would then sell the contracts at market price, allowing Ripple to earn yield from the structure. What’s Going On With The Supply? The current XRP circulating supply shows why the idea of exchanges completely running out of XRP should be treated carefully. At the time of writing, CoinMarketCap puts XRP’s circulating supply at about 61.82 billion XRP. However, the most important question is not how much XRP exists in circulation, but how much of that supply is actually liquid and available for immediate sale on exchanges. Recent on-chain data has started to strengthen the argument that XRP’s liquid supply may be tightening. For instance, the amount of XRP held on Binance has reportedly fallen from about 3.05 billion tokens to below 2.75 billion in less than a year, putting the exchange’s XRP reserves near multi-year lows. Related Reading: What’s Going On With Ethereum And Why Is Price Moving This Way? The drop in wallet balance of XRP has also coincided with a rise in XRP holders. Wallet addresses holding at least 10,000 XRP have reached a new all-time high of 332,000 wallets, showing that larger holders are still building positions despite XRP’s volatile price action. Another important signal is coming from whale exchange activity. Data has shown that XRP’s biggest holders have slowed the rate at which they send tokens to crypto exchanges. The 30-day cumulative whale inflow indicator has fallen below 736 million XRP, its lowest level since November 2021. Featured image created with Dall.E, chart from Tradingview.com