President of El Salvador, Nayib Bukele, has been sworn in for another five-year presidential term after a landslide victory in February. This news comes amidst a glitch that caused the listed price of several securities on the New York Stock Exchange to drop by up to 99.9%. Chainlink co-founder and CEO Sergey Nazarov commented on this incident, reminding the public that legacy financial systems are prone to critical vulnerabilities due to their highly centralized architecture.

In the crypto world, over US$3B worth of Ether has been removed from centralized exchanges since the May 23 approval of spot Ether exchange-traded funds (ETFs) in the United States. Additionally, BNB's market value has surpassed that of Starbucks, reaching US$101.75B. TON has officially announced the opening of registration for the fourth season of its Open League (S4), which will include competitions in the categories of tokens, applications, NFTs, and DeFi. The deadline for applications is set for June 11th.

The Uniswap Foundation, which oversees the decentralized exchange Uniswap, has postponed May 31's highly anticipated vote on UNI staking and delegation rewards. Safe (formerly Gnosis Safe), an EVM smart account ecosystem, has announced the launch of its native exchange Safe{Wallet} on Arbitrum, with development support from CowSwap.

In the stablecoin sector, Ethena Labs USDe stablecoin has reached a supply of US$3B tokens just four months after its public launch in February. Tether's CEO, Paolo Ardoino, has criticized the upcoming Markets in Crypto-Assets (MiCA) regulations, particularly challenging the rule requiring stablecoin issuers to hold reserves in bank deposits. Paxos International announced the issuance of an interest-bearing stablecoin called the Lift Dollar (USDL), which will be regulated in the Abu Dhabi Global Market (ADGM) and pay overnight yield on the interest Paxos International earns on the reserves backing it.

The NFT space has seen a collection previously owned by the now-bankrupt hedge fund, Three Arrows Capital, set to be auctioned at Sotheby's on June 18. The collection includes one Golden Ape BAYC, two MAYC, and one BAKC. Magic Eden, an NFT trading market, has announced the launch of its mobile wallet iOS version testing.

Other notable developments include the launch of the PRIME token functionality for community participation and development by the decentralized AI interaction protocol, Wayfinder Foundation. Robinhood Markets has agreed to purchase Cryptocurrency exchange Bitstamp for $200 million in cash, marking its largest deal to date. The Sandbox, a user-generated content (UGC) metaverse platform, has raised US$20 million of convertible promissory notes with a US$1 billion valuation cap, led by Kingsway Capital and Animoca Brands.