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22 May 2026, 20:10

YZi Labs takes Season 4 cohort to Bhutan as GMC stakes claim to crypto hub crown

YZi Labs (the venture company formerly known as Binance Labs) has officially opened the application process for the latest season of its EASY Residency cohort, with applications open to founders until June 21st, 2026. The latest edition (Season 4) will also be the first time the program brings a founder cohort physically to the Gelephu Mindfulness City (GMC), the new, sovereign tech city that Bhutan is currently developing. YZi Labs goes into Bhutan’s tech city YZi Labs’ EASY Residency is not a new idea. The program has been active since Season 1 launched in mid 2025, when the firm used it to back early-stage founders under the same mission it has operated on for seven years: helping founders build what lasts. The program runs for ten weeks (five online and five in-person) and offers accepted founders up to $500,000 in funding with housing, meals, and workspace covered during the residency. Each cohort usually focuses on Web3 with a special focus on global payments, AI, and Biotech. The latest YZi Labs cohort will experience the program evolving from a “virtually-held” or conventional-location format into something more geopolitically deliberate: gathering a cohort of Web3, AI, and Biotech founders inside a city that is actively competing for exactly that kind of talent and capital. The shift comes as the incubator space becomes increasingly crowded. With YZi Labs competing against a growing list of crypto-native accelerators and traditional VC-backed programs that have all identified early-stage Web3 and AI infrastructure as their next target. What is Bhutan building in the GMC? Gelephu Mindfulness City is Bhutan’s most ambitious economic project so far, designed as a Special Administrative Region (SAR) to attract international investors, technology companies, financial institutions, and family offices. It will also operate with its own regulatory framework, which will separate it from Bhutan’s broader national framework in some key aspects. Notably, Bhutan is actively trying to create a more supportive atmosphere for international business by establishing clearer legal frameworks for cross-border trade. A key move happened on May 12, when Bhutan and Singapore signed a Double Taxation Avoidance Agreement , which was the third bilateral tax treaty negotiated by the Royal Government of Bhutan, with direct participation from the GMC’s authorities. The agreement will help prevent investors from being taxed twice on the same income, thus making Bhutan more attractive to international investors who might’ve avoided smaller markets in the first place. GMC Governor Dasho Lotay Tshering described the Singapore signing as more than just an economic arrangement, calling it “formal recognition by Singapore of GMC and its vision.” Interestingly, GMC has already received official interest from partners. Yesterday, May 21, a stablecoin payments company called RedotPay announced that it was establishing a local presence to operate under GMC’s regulatory framework, directly integrating its operations with the city’s compliance and stablecoin payment standards. As Cryptopolitan reported on May 14, BTSE Bhutan announced that it formally received an In-Principle Approval (IPA) from the Gelephu Financial Services Office (GFSO) in Gelephu Mindfulness City (GMC) to obtain a Financial Services License (FSL). The smartest crypto minds already read our newsletter. Want in? Join them .

22 May 2026, 20:05

Clarity Act clears major hurdle with 15-9 Senate vote

🚨 Clarity Act progressed in the Senate with a 15-9 committee vote. Emmer emphasized $BTC policymakers are now working across party lines. Continue Reading: Clarity Act clears major hurdle with 15-9 Senate vote The post Clarity Act clears major hurdle with 15-9 Senate vote appeared first on COINTURK NEWS .

22 May 2026, 19:21

SEC delays plan providing crypto firms exemptions to trade tokenized versions of stocks

More on Crypto Bitwise, 21Shares ETFs buy $16.1M Hyperliquid as $100 by year-end odds rise Quantum threat: Crypto industry preparing for Q-Day Republican-led Senate Banking Committee advances crypto bill

22 May 2026, 18:50

SpaceX files for IPO: $28 trillion market, Mars pay package, and a record-breaking valuation

BitcoinWorld SpaceX files for IPO: $28 trillion market, Mars pay package, and a record-breaking valuation SpaceX has officially filed its S-1 registration statement with the U.S. Securities and Exchange Commission, taking the first concrete step toward what could become the largest initial public offering in American history. The filing, which runs 36 pages of risk factors alone, lays out a financial narrative that stretches far beyond rockets and satellite launches. A $28 trillion addressable market The most striking number in the document is the total addressable market SpaceX claims: $28 trillion. This figure encompasses not just launch services and Starlink broadband, but also point-to-point Earth transport, lunar logistics, and the long-term colonization of Mars. While the market sizing is ambitious, it reflects the company’s strategy of positioning itself as a multi-planetary infrastructure provider rather than a traditional aerospace contractor. The Mars compensation clause One of the more unusual disclosures involves executive compensation. A portion of Elon Musk’s pay package is tied to milestones related to establishing a permanent human settlement on Mars. This is unprecedented in public company filings and underscores how deeply the Mars mission is embedded in SpaceX’s corporate structure. The filing does not specify exact targets or timelines, but it signals to investors that long-term value creation is linked to interplanetary ambitions. Risk factors and regulatory hurdles The 36-page risk factors section covers everything from launch failures and satellite collisions to regulatory changes in spectrum allocation and export controls. Notably, SpaceX highlights the uncertainty around Starship’s regulatory approval for orbital launches, which is critical to both the Mars timeline and the Starlink expansion. The filing also acknowledges potential competition from China’s state-backed space programs and emerging private players like Blue Origin. Valuation and IPO timing SpaceX’s valuation in private markets has already exceeded $180 billion, and analysts expect the IPO to target a valuation north of $250 billion, which would surpass the record set by Saudi Aramco. The company has not yet set a price range or a date for the offering, but the S-1 filing typically precedes a listing by several months. The timing will depend on market conditions and SEC review. Why this matters For investors, the SpaceX IPO represents a rare opportunity to buy into a company that has fundamentally reshaped the space industry. For the broader public, it marks a shift in how space exploration is funded and governed. The filing also raises questions about risk tolerance: SpaceX’s business model depends on technologies that have not yet been proven at scale, and the company’s success is tightly linked to one individual, Elon Musk. The S-1 does not shy away from these realities, but it asks investors to take a leap of faith. Conclusion SpaceX’s S-1 filing is a document of extraordinary ambition. It presents a company that sees itself not just as a launch provider, but as the architect of a multi-planetary economy. Whether investors share that vision will be tested in the coming months. The filing is a must-read for anyone following the future of space, finance, or technology. FAQs Q1: When will the SpaceX IPO happen? The S-1 filing has been submitted, but no date or price range has been set. The IPO is expected within the next 6 to 12 months, pending SEC review and market conditions. Q2: How is Elon Musk’s pay tied to Mars? A portion of Musk’s compensation package is linked to milestones related to establishing a permanent human settlement on Mars. Specific targets and timelines are not disclosed in the filing. Q3: What is the $28 trillion market estimate based on? SpaceX’s total addressable market includes launch services, Starlink broadband, point-to-point Earth transport, lunar logistics, and Mars colonization. The figure is a forward-looking estimate and not a current revenue projection. This post SpaceX files for IPO: $28 trillion market, Mars pay package, and a record-breaking valuation first appeared on BitcoinWorld .

22 May 2026, 18:21

Hackathon Champion To Failed Project In 10 Days! GSD Founder Allegedly Rugs Just After Receiving his $100K Grant

What started as a landmark moment for an upstart AI-centric crypto project quickly descended into one of the more baffling incidents in hackathon history. A project called GSD, a recent winner of the $100K prize for first place at the Bags Hackathon, which took place just days ago, has been now accused of purposely pulling off a rug pull that destroyed confidence overnight. The project’s founder, known online as official_taches, took to the internet to announce proudly that they had taken first prize at the event on May 11, 2026. Pioneering projects were funded with grants between $10,000 to $100,000 in The Bags Hackathon, a grassroots initiative that recently included a fundraising milestone with approximately 1 million prize pool. GSD positions itself as an “agentic operating system for AI from the start,” a description that grabbed headlines almost immediately alongside the rapid blurring between artificial intelligence and real compute blockchain infrastructure. The project also boasted significant adoption with more than 62,900 GitHub stars, which gave the project seemingly legitimate credibility within developer circles. BAGS hackathon winner with the $100k grant just rugged, only 10 days after winning. They took the treasury, deleted everything, and blamed AI. “GSD Cloud is obsolete. Everything I’ve worked on for months has now been absorbed directly into tools like the Codex and Claude Code… pic.twitter.com/x33MjDwHJK — Crypto Banter (@crypto_banter) May 22, 2026 A Shocking Departure Raises Eyebrows Just ten days after the christening of their issue, the hideous and alarming turn of events. Reports surfaced on May 22, alleging that the founder had arguably sold most of his tokens in regards to GSD holdings and emptied project-controlled cash. Several sources report that close to $500,000 was siphoned off using a combination of treasury requests and the sale of tokens. It was this sudden movement that triggered a protracted sale of the token which is alleged to have wiped out as much as 90% of the value for GSD in just two days. Compounding the concern, the founder had his social media accounts and profiles deleted or placed in private immediately after these transactions. That sequence of events has led a number of observers to characterize the episode as one of those familiar “rug pulls,” in which insiders take off for greener pastures at their community’s expense. NEW: @official_taches , winner of the @BagsApp hackathon and founder of $GSD , allegedly rugged the project after pulling nearly $500K from liquidity and selling his holdings. The token later crashed 90%, while his X account was deleted shortly after. pic.twitter.com/EbNzdvwr9i — SolanaFloor (@SolanaFloor) May 22, 2026 Developer Attributes Collapse To AI Disruption The founder reportedly tried to explain the sudden closure by citing fast-moving advances in AI, an unexpected turn of events. A statement made by a representative of the developer claims that GSD is now outdated due to the arrival of OpenAI Codex and Claude Code. “GSD Cloud is obsolete. Months of effort on my part has gone directly into the Codex and Claude Code apps. The statement said, “You can’t beat multi billion dollar ais software co? This reasoning is met with almost universal disbelief. But critics say that this lack of competitive pressure does not justify the slaughtering of treasury assets or the flight of leadership from a project. This has garnered many readers, who see it as an attempt to distance the regime from culpability where actions seem premeditated. Timeline Shows Fast Transition From Expanding To Exiting A timeline provides an in-depth account of how quickly things turned south. May 11, GSD was capitalizing on its hackathon win and marketing the project, launching token contracts on Solana & publishing strategic accomplishments. But just days later, there were signs of instability. Then, by May 22nd things changed utterly: the founder was said to start dumping holdings, draining liquidity and cancelling online presence for the project. The rapid shift from all the celebratory public attention to blatantly disregarding their plans questions if the rug pull was planned or an attempt at reaction management. So you’re telling me that GSD May 11, 2026 – wins first prize at the Bags Hackathon – founder publicly celebrates it – posts the Solana CA for the token GSD – project claims 62.9K+ GitHub stars marketed as “agentic operating systems for AI development” Bags Hackathon ~$1M… pic.twitter.com/4UpkKJkuK0 — StarPlatinum (@StarPlatinum_) May 22, 2026 Implications For Hackathons And Pre-Seed/Seed Stage Fundraising The GSD incident is about to have serious consequences throughout the whole hackathon ecosystem. Initiatives like the Bags Hackathon seek to discover, support and reward promising ideas at very early stages of development with significant funding. However this model is fraught with risk. Projects with funding links to potential, versus proven execution, may not be invested in the governance and accountability structures needed for investor and user protection. The interaction of grant funding, token issuance and rapid market exposure led to a situation where a single person could leverage the projected risk/reward by being able to strongly influence not only the future direction of the project but also the financial resources it had at its disposal. As a result, there could be increased pressure on organizers and participants to adopt stricter vetting processes, greater transparency requirements, and more rigorous post-grant oversight. Community Response And Erosion Of Confidence The incident has drawn a furious reaction from the crypto community. The founder’s actions drew ire, but many users expressed being frustrated with the broader ecosystem that continues to allow this. The losses are financial and mental, especially for investors who joined the GSD ecosystem after it excelled at a recent hackathon. The rapid downfall bolsters an enduring worry in crypto: that even projects with the strongest foundations are far more tenuous than they may seem. Simultaneously, the event has highlighted the vital role of due diligence, even more so for early-stage businesses where there is much information asymmetry and little accountability. In either case, the GSD is not only a series of discussions-ends in themselves today; they are likely to warn people about both what works at the intersection of AI innovation and decentralized finance. A Harsh Reminder Of Market Realities The GSD’s rise and fall is a love letter to the deep-fried landscape of modern crypto. In just ten days a project had turned from triumph and fundraising to scandal and wreckage, with might-have-beens hanging in the air, weighed down by a high toll. The founder’s justification cites external pressures from the rapid pace of AI make-up, but going about this in the fashion that they did has pushed any technical resolution right into the shadows. The incident offers a very simple character for many onlookers: that in quick-moving markets belief may be constructed through the years, and destroyed simply as fast. The challenge now is to sustain this linguistic ecosystem by allowing innovative start-ups to flourish but with the risk mitigation safeguards that can support them. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

22 May 2026, 18:20

SEC Commissioner Peirce counters views that crypto rule will foster synthetic tokens

Hester Peirce, the commissioner behind the SEC's Crypto Task Force, made statements on the unreleased proposal, perhaps tamping down mistaken beliefs.