Upbit, Bithumb compensate users after service outages during martial law  

Kristin Johnson of the US Commodity Futures Trading Commission (CFTC) has announced that she plans to depart the agency before 2026.In a May 21 notice, Johnson said she planned to step down from the CFTC “later this year,” having completed her term, which ended in April. The commissioner filling a Democratic seat at the financial regulator had served since March 2022 after being nominated by former President Joe Biden.In her farewell message, Johnson cited her work as a sponsor of the Market Risk Advisory Committee, which dealt with “nascent issues that arise with the introduction of decentralized financial products such as digital assets or cryptocurrency and other emerging markets.” CFTC Commissioner Kristin Johnson. Source: CFTCJohnson on XHer departure could come before US President Donald Trump nominates a replacement and has them confirmed by a Senate majority. Commissioners Summer Mersinger and Christy Goldsmith Romero previously said they would step down on May 30 and May 31, respectively, and acting CFTC Chair Caroline Pham said she planned to move “to the private sector” if Brian Quintenz were to be the next Senate-confirmed head of the agency.One position on the five-seat CFTC panel has been empty since the departure of former chair Rostin Behnam in February. Under CFTC guidelines, commissioners can continue to serve beyond the end of their terms until a “successor is appointed and has qualified,” provided it is before the next session of Congress.Related: KuCoin’s settlement with CFTC in flux after Trump policy shiftCFTC shakeup amid proposals for crypto market structureJohnson’s notice suggested that the entire leadership of one of the most significant financial regulators in the US could be replaced by Trump’s picks as early as 2026. The president nominated Quintenz to serve as CFTC chair in February, but the Senate had not moved for a vote to confirm him in more than three months. Along with the Securities and Exchange Commission (SEC), the CFTC has handled specific regulatory and enforcement issues related to digital assets. However, the lack of “clear rules of the road,” according to some lawmakers and industry leaders, has led to calls for a law establishing a digital asset market regulatory structure, clarifying the roles each agency would have to play.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

A Democratic representative in the US Congress will support a blockchain bill at a time when many left-leaning lawmakers are blocking crypto-related pieces of legislation due to concerns with President Donald Trump’s potential conflicts of interest.In a May 21 notice, Minnesota Representative Tom Emmer said he had reintroduced the Blockchain Regulatory Certainty Act, a bill that “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.”Emmer, a Republican, said Democratic Representative Ritchie Torres would co-lead the bill, making it a bipartisan effort in Congress.“The Blockchain Regulatory Certainty Act reflects a thoughtful, bipartisan effort to get digital asset policy right,” said Torres. “While similar language was voted down in markup last Congress, we took that feedback seriously and returned with a smarter, sharper framework that protects innovation without compromising oversight.”Reintroducing the Blockchain Regulatory Certainty Act on May 21. Source: Tom EmmerRepresentatives of advocacy organizations, including the Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DeFi Education Fund and Blockchain Association, said they would support the proposed blockchain regulatory bill. It was unclear whether Emmer and Torres had a majority of votes in the House of Representatives for the legislation to pass. Torres has supported many bills and policies favorable to the crypto industry since assuming office in 2021. Together with Emmer, he has led the Congressional Crypto Caucus to advance crypto-friendly policies in the House since March.A bipartisan blockchain bill amid memecoin concerns?Other Democratic House members, including Representative Maxine Waters, have suggested they intend to block any legislation related to crypto and blockchain until Republicans address Trump’s connections to the industry, such as his family’s stake in World Liberty Financial and his TRUMP memecoin. The president is planning to host a dinner with up to 220 people holding the most significant amounts of his memecoin on May 22.Related: Interest groups, lawmakers to protest Trump’s memecoin dinnerCointelegraph reached out to Torres’ office for comment but had not received a response at the time of publication.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence. Idle capital will be deployed into Avalanche (AVAX) real-world asset (RWA) products, including tokenized money market funds, VanEck said.The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. “The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.RWAs are among crypto’s fastest-growing segments. Source: RWA.xyzRelated: Tokenized stocks could top $1T in market cap — ExecsThematic crypto fundsVanEck’s PurposeBuilt Fund is the latest in a series of funds from the asset manager and rivals designed to offer exposure to projects and companies in fast-growing segments of Web3. On May 14, VanEck launched a new actively managed exchange-traded fund (ETF) to invest in stocks and financial instruments providing exposure to the digital economy.In April, VanEck launched another ETF investing in a passive index of companies operating in the crypto space. Asset managers such as VanEck are requesting the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 crypto ETFs. The wave of ETF filings is in response to US President Donald Trump softening the agency’s regulatory stance toward crypto after Trump took office in January.Avalanche TVL as of May 21. Source: DefiLlamaAvalanche RWA ecosystemAvalanche has emerged as a hub for real-world assets (RWAs) and other institutional-oriented crypto projects. Its interrelated networks, called subnets, allow institutions to run Ethereum-style smart contracts in a controlled environment. On May 16, Solv Protocol launched a yield-bearing Bitcoin token on the Avalanche blockchain, targeting institutional investorsAvalanche has around $1.5 billion in total value locked (TVL) as of May 21, according to data from DefiLlama. “We’re seeing a shift away from speculative hype toward real utility and sustainable token economies,” John Nahas, chief business officer at Ava Labs, said in a statement.Magazine: Danger signs for Bitcoin as retail abandons it to institutions — Sky Wee