MEXC On-chain Observation Daily: SEC Plans to Launch Regulatory Framework for Tokenized Stocks

Updated: May 20, 2026 09:30 (UTC+8) | Author: MEX

 Headlines

• U.S. SEC may introduce tokenized equity regulatory framework as early as this week

• Stablecoin supply surpasses $300 billion as market share dynamics continue to shift

• S&P: Bank of Japan may raise rates to 1.5% before 2027

• Japan FSA recognizes specific stablecoins as electronic payment instruments

• Three major exchanges urge Senate to remove token listing restriction clauses

Industry Updates

Stablecoin Infrastructure Startup Checker Raises $8M Led by Galaxy Ventures and Others

According to The Block, stablecoin infrastructure startup Checker announced the completion of an $8 million combined pre-seed and seed funding round, with participation from Galaxy Ventures, Framework Ventures, and several other institutions. The company provides a unified API infrastructure designed to help financial institutions rapidly launch and scale stablecoin-related products, processing more than $3 billion in transaction volume over the past 12 months.The new funding will support expansion across Brazil, Kenya, Hong Kong, and the United States, while also enabling the rollout of AI-agent services focused on client onboarding, compliance assessment, and treasury operations, further strengthening the stablecoin infrastructure ecosystem.

Analog Devices Reportedly Exploring $1.5B Acquisition of AI Chip Startup Empower Semiconductor

According to The Information, semiconductor giant Analog Devices is in talks to acquire AI chip startup Empower Semiconductor for approximately $1.5 billion. If completed, the acquisition would significantly strengthen Analog Devices’ positioning within high-performance AI computing infrastructure.As AI adoption accelerates globally, demand for advanced power management and energy-efficiency solutions continues to rise across the computing hardware stack. The potential acquisition highlights growing long-term confidence among major technology firms in the AI infrastructure supply chain.

Minnesota Authorizes Crypto Custody Services While Tightening ATM Regulations

According to The Block, Minnesota has officially signed legislation allowing banks and credit unions within the state to provide compliant cryptocurrency custody services. Financial institutions will be required to establish robust risk-management frameworks and client asset segregation mechanisms before launching operations.At the same time, regulators introduced stricter oversight for crypto ATMs, prohibiting new installations and requiring existing machines to gradually phase out operations. The move reflects increasingly divergent crypto regulatory approaches across U.S. states, with compliant custody services expanding while offline crypto access points face tighter scrutiny.

Economist: Rising Global Bond Yields Reflect Persistent Inflation Expectations

According to Jin10, senior economists at Columbia Threadneedle Investments stated that global financial conditions continue tightening as bond yields rise sharply across major economies, primarily driven by energy-related inflation pressures.The report expects both the European Central Bank and the Bank of England to resume tightening cycles, while Federal Reserve expectations have shifted from potential rate cuts toward possible hikes over the next one to two years. Prolonged global liquidity tightening could continue pressuring crypto asset valuations and broader market liquidity conditions.

Echo Protocol Regains Control of Admin Keys and Burns Remaining 955 eBTC Held by Attacker

According to Odaily, Echo Protocol announced that the cross-chain bridge security incident on the Monad network has been partially resolved. The team has regained control of the compromised administrator keys and burned the remaining 955 eBTC previously held by the attacker.The exploit originated from leaked admin credentials, resulting in unauthorized minting activity and approximately $816,000 in losses. While the Monad network itself remains operational, cross-chain transfers are still temporarily suspended. The team stated that it has initiated a full review of cross-chain exposure risks and is coordinating with ecosystem partners to strengthen security protections.

Pump.fun to Launch New USDC Trading Pairs on May 21

According to SolanaFloor, Pump.fun announced that it will launch new USDC-denominated trading pairs on May 21, while existing SOL-based trading pairs will remain unaffected.Since launching in January 2024, the platform has locked more than 5.07 million SOL in liquidity pools, worth approximately $430 million. On-chain data also shows that over $382 million has been allocated toward PUMP token buybacks, removing substantial circulating supply from the market. The new USDC pairs are expected to expand stablecoin trading accessibility across the platform ecosystem.

Polymarket Partners With Nasdaq to Launch Private Market Prediction Products

According to Reuters, Polymarket has partnered with Nasdaq to launch prediction markets focused on private companies, covering key milestones such as valuations, IPO timelines, and secondary-market activity.Nasdaq Private Market will serve as the official settlement data provider, supplying authoritative private-market information for contract resolution. The partnership combines traditional capital market infrastructure with blockchain-based prediction markets, potentially expanding the application scope of decentralized forecasting products.

AI Social Platform Status AI Raises $17M Across Seed and Series A Rounds

According to TechCrunch, AI social application Status AI completed $17 million in combined seed and Series A financing, with participation from General Catalyst, Y Combinator, and other major investors.The platform focuses on gamified AI-driven social experiences, allowing users to roleplay within immersive virtual environments. The project aims to transform traditional social media into an interactive entertainment ecosystem combining AI, gaming, and Web3 functionality. The newly raised capital will primarily support product development and community ecosystem expansion.

Crypto Firms Pause IPO Plans as AI Boom Reshapes Tech Markets

According to CoinDesk, multiple leading crypto firms have delayed IPO plans amid declining trading activity and mounting valuation pressure. Hardware wallet manufacturer Ledger and MetaMask developer ConsenSys have both reportedly paused listing efforts.Fundstrat analysts noted that overall crypto trading volumes have declined approximately 75% this year, significantly weighing on public-market valuations, while AI-related companies continue attracting strong investor demand. Meanwhile, Bitcoin miners transitioning toward AI infrastructure operations have shown stronger performance. Hyperliquid reportedly generated approximately $850 million in revenue over the past 12 months and recently partnered with Coinbase to integrate USDC as a compliant stablecoin option.

MEXC Market Heatmap

Data Source: MEXC real-time market data before 09:30 (UTC+8). Figures may fluctuate with market conditions.

Top 24H Gainers

• ZEST/USDT (+500.00%)

• META/USDT (+257.91%)

• PROMPT/USDT (+45.45%)

Top 24H Trading Volume

• BTC/USDT (214.763M)

• ETH/USDT (123.963M)

• USDC/USDT (45.961M)

Top Trending Meme Tokens

• LMAO/USDT

• MAXXING/USDT

• HASH/USDT

New Listing Preview

• XT/USDT — Listing Time: 2026-05-20 18:00:00 (UTC+8)

On-Chain Calendar

High-Risk Token Unlock Watchlist

• PYTH/USDT — [05-21 11:15] Unlock: 95.93M USDT (37.04% of circulating supply) — Extremely high sell pressure risk

• Humanity/USDT — [05-25 03:45] Unlock: 70.95M USDT (16.04%) — Elevated sell pressure risk

• MemeCore/USDT — [06-03 03:45] Unlock: 178.54M USDT (4.32%) — Elevated sell pressure risk

• Rain/USDT — [06-11 06:45] Unlock: 380.16M USDT (10.57%) — Extremely high sell pressure risk

Key Macro Events Today

• May 20, 07:00 — Fed Official Paulson Speech [Markets watching for comments on rates and inflation outlook]

• May 20, 07:30 — Fed Official Venable Speech [Markets watching for comments on rates and inflation outlook]

• May 20, 09:15 — China 1Y / 5Y Loan Prime Rate Data [Reflects domestic monetary policy direction and liquidity expectations]

• May 20, 14:00 — U.K. Inflation and PPI Data [Key indicator affecting GBP and broader risk-asset sentiment]

• May 20, 15:00 — ECB Non-Monetary Policy Meeting [Markets monitoring policy signals impacting Eurozone financial expectations]

  
  

Risk Alert

Recent phishing campaigns involving fake wallet applications and counterfeit cross-chain portals have intensified significantly. Attackers are increasingly impersonating official wallet download pages, social media advertisements, and search engine results to distribute compromised wallet software containing hidden backdoors.These malicious wallets often silently collect private keys after users import seed phrases or authorize transactions, then gradually drain funds once wallet balances exceed certain thresholds. Due to delayed theft patterns and stealthy execution, many users mistakenly believe their assets remain safe. Some attacks also disguise themselves as “cross-chain bridge upgrade pages” or “wallet extension update prompts” to trick users into signing malicious approvals.Users are strongly advised to download wallet applications exclusively through official channels, avoid clicking unfamiliar links, never import seed phrases into unverified platforms, and regularly review wallet authorization permissions to reduce the risk of long-term asset compromise.

MEXC Chain Observation Daily, updated daily at 09:30 am, strives to provide professional, timely, and in-depth market analysis for cryptocurrency practitioners. Welcome to share and subscribe.

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Risk Warning: The content of this article is for reference only and does not constitute any investment advice. The cryptocurrency market is volatile, please make a cautious decision based on your own situation.