Michael Burry said this week that the U.S. could drift toward a “Snow Crash cyber-punk future” as the SEC prepares rules that may allow crypto platforms to trade tokenized versions of U.S. stocks. He published the warning in a May 19 post on his Substack “Cassandra Unchained,” and later added that regulators should avoid “opening scary doors.” The SEC proposal was reported May 18 and was later paused on May 22, 2026.

Fenwick & West LLP, a key outside counsel to the former crypto exchange FTX, agreed on Friday to pay $54 million to resolve a 2023 class action brought by ex-customers. The deal was reached in February 2026 and still requires approval from a US judge. The firm is also facing a separate lawsuit seeking $525 million related to alleged involvement in events around FTX's collapse.

Medical supply manufacturer Gentell says disruption around the Strait of Hormuz has pushed some raw material costs up by as much as 30% and raised transportation expenses. The company's CEO David Navazio said shipping a container from New Zealand to California is now about $4,500 versus about $2,000 before the war, while Gentell faces near-term margin pressure and limited ability to reprice annually set government-linked contracts.

Gold hovered around $4,509 per ounce on Sunday after sliding about $30 to $35 over the May 17-24 window, as the U.S. dollar stayed firm and Treasury yields climbed. The DXY held roughly between 99.0 and 99.4 while the 10-year yield moved toward 4.5% to 4.6%, helping keep demand cautious and contributing to ETF outflows.

AAA gas-price estimates above $4 a gallon and inflation nearing 4% are keeping many Americans under pressure. The National Foundation for Credit Counseling forecasts its financial-stress score will rise to 6.7 for the three months ending in June after a slight first-quarter dip. NFCC also cites a surge in credit-counseling inquiries and says debt management plans may lower rates and monthly payments for some households.

StablR's USD stablecoin USDR traded around $0.63, about 37% below its peg, while EURR was roughly 22% under parity after the issuer confirmed an exploit. The incident involved unauthorized minting of 8.35 million USDR and 4.5 million EURR, with the attacker reportedly netting 1,115 ETH as liquidity on DEX pools was drained.

A New York Times report dated May 24 says Trump appointees at the CFTC placed multiple officials on administrative leave after they raised compliance concerns involving Polymarket, Crypto.com, and a Gemini affiliate. The report also describes the agency dropping at least five crypto-related probes and sharply reducing enforcement actions, while separately suing six states over efforts to restrict prediction markets.

The global crypto market cap stood at $2.56 trillion at publication, with altcoins at $1.097 trillion, even as Bitcoin moved back above $75,000. Despite several majors posting sharp gains, CoinMarketCap's altcoin season index was 38, implying the market is still in a Bitcoin-led phase rather than a broad altcoin season. On-chain indicators cited in the report also suggest most altcoins remain highly tethered to Bitcoin and many are still trading near their all-time lows.