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Three blockchain infrastructure projects shut down on the same day as Layer 2 consolidation accelerates

Three blockchain infrastructure projects closed their operations on May 21, suggesting rising concern about the sustainability of venture-backed solutions.　　Syndicate Labs, Everclear (formerly Connext), and ZERO Network each shut down within hours of each other. The shutdowns involve three separate industries that have had substantial venture investments within the period from 2021 to 2022.　　Syndicate Labs closes after rollup demand dries up　　Syndicate Labs constructed infrastructure for Ethereum appchains and smart sequencing. The company secured $20 million in Series A fundraising, backed by Andreessen Horowitz, in 2021. Five years went into creating developer tools tailored toward rollups.　　“Unfortunately, the rollup market has shrunk dramatically,” Syndicate Labs announced on X on May 21. “For every new rollup spinning up, more are quietly shutting down.”　　Will Papper, co-founder of the company, said the team thought about pivoting into rollup-as-a-service consulting, but found that the market was moving away from this and towards custom execution environments made specifically for certain applications.　　“I wish we had a better path to customer and market traction. Unfortunately, we did not in this rollup market,” Papper said.　　EVM rollups are no longer the default route for scaling, according to the firm. Teams are choosing to construct their own chains rather than use shared infrastructure.　　The

05-22

Philippines chases AI gains despite readiness gap: forum

Industry leaders, government officials, and development economists converged at a BusinessWorld forum on May 18 to map out the Philippines‘ AI future—and confronted a shared concern: the country’s ambitions are outpacing its infrastructure, workforce, and governance capacity.　　AI governance and the future of AI in the Philippines　　AI governance should align innovation with safeguards and protection: this was the message of the Philippines Department of Information and Communications Technology (DICT) Secretary Henry Aguda in the forum. He stressed the need for trust to widen AI adoption and claimed that the DICT is prioritizing data protection and cybersecurity as AI tools become more embedded in public services and businesses.　　“AI governance can‘t be about choosing between innovation and protection. We need both. And what we really need to protect is trust. Because without trust, adoption slows down, and the benefits won’t reach the people who need them most,” he said. “AI is not coming; it‘s already here. It’s already part of how we work, learn and deliver services.”　　According to Deloitte Philippines Country Head Ramon Chito Ramos, although AI adoption is improving among enterprises, human capability is slowing its adoption. He highlighted the need to upgrade digital infrastructure to support AI workloads, while also noting

05-22

Bitcoin $78,000 Rebound Fizzles As Coinbase Premium Stays Red

Data shows the Bitcoin Coinbase Premium Index remained at negative levels despite the rebound in BTCs spot price back toward $78,000.　　Bitcoin Coinbase Premium Gap Points To Selling Pressure From US Traders　　As pointed out by analyst Axel Adler Jr in an X post, the Bitcoin Coinbase Premium Index has been inside the negative territory recently. This indicator tracks the percentage difference between the BTC spot price listed on Coinbase (USD pair) and that on Binance (USDT pair).　　In short, what this metric tells us about is how the traders buying and selling behaviors compare between Coinbase and Binance. Below is the chart shared by Adler Jr that shows the trend in the Bitcoin Coinbase Premium Index over the past year:　　As is visible in the graph, the Bitcoin Coinbase Premium Index was at mostly positive levels during the second half of 2025, indicating that the asset was going for a higher price on Coinbase as compared to Binance. Such a trend naturally implies that Coinbase users were providing a higher amount of buying pressure.　　The trend flipped toward the end of the year as Coinbase users took to selling alongside the price drawdown. From the chart, its visible that 2026 only furthered the downward

05-22

MATIC Price Prediction: Sub-$0.30 Breakdown Looms as Bears Circle $0.38 Support

Polygon sits in no-man‘s land at $0.38, caught between sellers unloading into every bounce and buyers who’ve gone radio silent. The token‘s grinding sideways action masks a deeper structural problem – it’s trading a staggering 45% below its 200-day moving average at $0.69, signaling institutional money has long since rotated elsewhere.　　The 24-hour volume of just $1.07 million on Binance tells the real story. This isn‘t consolidation; it’s abandonment. When Blockchain.news reported earlier projections suggesting MATIC could hit $0.75 by year-end, those forecasts assumed the Layer 2 narrative would maintain steam. Instead, were watching a slow-motion capitulation as newer scaling solutions capture mindshare.　　Indicator Alignment　　The technicals are painting a brutally clear picture that contradicts any bullish spin. RSI at 38 isn‘t oversold territory – it’s the sweet spot where weak hands finally throw in the towel. More damning is the MACD histogram sitting at essentially zero (-0.0000), confirming momentum has completely evaporated.　　Bollinger Band positioning at 0.29 means MATIC is hugging the lower third of its volatility range, with the next logical destination being a test of the $0.31 lower band. The daily ATR of just $0.02 shows volatility compression that typically precedes violent moves, and with price below every meaningful moving average,

05-22

Gold price in Philippines: Rates on May 22

Gold prices fell in Philippines on Friday, according to data compiled by FXStreet.　　The price for Gold stood at 8,978.47 Philippine Pesos (PHP) per gram, down compared with the PHP 9,006.36 it cost on Thursday.　　The price for Gold decreased to PHP 104,723.10 per tola from PHP 105,048.40 per tola a day earlier.Unit measureGold Price in PHP1 Gram8,978.4710 Grams89,784.38Tola104,723.10Troy Ounce279,267.30　　Gold FAQs　　Gold has played a key role in human‘s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.　　Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a countrys solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves

05-22

NEAR Protocol Price Breaks Multi-Year Bearish Trend Amid Rising AI Narrative—How High Can it Go?

The post NEAR Protocol Price Breaks Multi-Year Bearish Trend Amid Rising AI Narrative—How High Can it Go？ appeared first on Coinpedia Fintech News　　After remaining trapped within a prolonged bearish structure, the NEAR Protocol price has stayed elevated since rebounding from lows near $0.95 in February. Following a sustained ascending trend, the token has now broken above the interim resistance at $1.90 and, more importantly, the multi-year descending trendline. NEAR has surged over 20% in the past 24 hours to trade around $2.10, while trading volume has nearly doubled.　　The latest weekly breakout attempt is now testing this macro resistance for the first time since the 2024 cycle top. The move comes as the AI narrative regains traction, open interest climbs, and ecosystem activity improves—but can NEAR sustain the breakout and rally toward the next major resistance zone？　　NEAR Price Breaks Out of Multi-Year Bearish Structure　　The NEAR price has remained trapped inside a bearish descending parallel channel since December 2024. The recent breakout has helped the price break this bearish structure, elevating the price to $2.17 for the first time this year. The bulls seem to have been dominating the rally, and hence, the price is believed to maintain a strong ascending trend

05-22

Strategy May Sell Bitcoin Before Year-End, Says Michael Saylor

Strategy may sell some Bitcoin before the end of the year as part of its capital management plan.Michael Saylor said the company evaluates equity, credit, cash, and Bitcoin sales continuously.The firm aims to increase Bitcoin per share, total holdings, and enterprise value over time.Saylor said a mixed funding approach performs better than relying on a single method.Strategy could sell Bitcoin with a higher cost basis depending on market conditions.　　Strategy may sell some Bitcoin before the end of the year, according to Executive Chairman Michael Saylor. He said the company evaluates multiple funding options, including equity, credit, and Bitcoin sales. Strategy aims to increase Bitcoin per share and overall enterprise value over time.　　Strategy Considers Bitcoin Sales in Capital Planning　　Michael Saylor said Strategy may sell Bitcoin as part of a broader capital management plan. He explained that decisions depend on market conditions and financial obligations.　　“I think it‘s not unlikely that we’ll sell some Bitcoin,” Saylor said during a retail investor Q&A. He added that the company has not finalized the amount.　　Strategy reviews funding options using a data-driven approach. It evaluates whether liabilities should be covered by cash, equity, credit, or Bitcoin.　　Saylor said models relying on one funding method tend to underperform. He

05-22

Blockchain.com Tests a Cold IPO Market After Kraken, Ledger Paused

Blockchain.com has filed a confidential draft registration statement (S-1) for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).　　The Dallas-based crypto firm aims to list publicly this year, joining a thinning queue of 2026 debuts.　　A Crypto Veteran Reaches for Wall Street　　Among the oldest active crypto services companies, Blockchain.com has not disclosed shares or a price range. According to Bloomberg, the firm employs 500 staff and has been profitable on an adjusted basis for three years. It supports over 95 million wallets and 43 million confirmed accounts.　　Blockchain.com first weighed a public listing as early as 2022. The firms valuation rose to $14 billion in the spring of that year. A 2023 Series E round left it valued at less than half of that.　　Meanwhile, the firm follows Bullish and Gemini Space Station, the Winklevoss brothers venture, which went public in 2025 during a crypto rally.　　However, crypto markets have stayed under pressure since Octobers record crash. Investor risk-off positioning has stalled the pace of new listings across the sector.　　Payward, Krakens parent, postponed its IPO in March and is cutting 150 jobs to slim down. Hardware wallet maker Ledger has also paused its plans.　　Blockchain.coms bid, therefore, enters a more cautious

05-22

NEAR up +25.78%, BTC -0.44%, NEAR Protocol is The Coin of The Day - Daily Market Update for May 22, 2026 | CoinCodex

Key highlights:The total cryptocurrency market cap decreased from $ 2.59T to $ 2.58T in the past 24 hours, representing a -0.42% changeThe Bitcoin price at press time is $ 77,482 after falling by -0.44% in the last 24 hoursThe total crypto trading volume decreased by -0.42% in the past 24 hours, and is currently at $ 213.81BAll prices and changes are presented at the time of publication: May 22, 2026, at 06:00 UTC　　Market Overview　　The total cryptocurrency market cap is currently $ 2.58T after a -0.42% decrease on the day. The total crypto trading volume declined by -0.42% in the same time frame.　　Bitcoin is trading at $ 77,482 after seeing a -0.44% loss in the last 24 hours. The Bitcoin dominance fell by -0.08% and BTC currently represents 60.26% of the cryptocurrency market.　　Top Coins By Market Cap　　At press time, Bitcoin has a market capitalization of $ 1.55T after losing -0.44% in the last 24 hours. According to our forecast, the value of Bitcoin will drop by null% and reach null by May 22, 2026. To learn more about how the price of Bitcoin could change over the next 7 days, visit our Bitcoin price prediction page.　　Ethereum, which is the second-largest cryptocurrency

05-22

US Lawmakers Propose the ARMA Bill to Build a 1-Million-Bitcoin Strategic Reserve

ARMA establishes a reserve and a digital asset stockpile to be managed by the U.S. Department of the Treasury, and requires all federal agencies to provide a full accounting of digital assets held in their possession.　　The legislation empowers the Treasury to acquire up to 200,000 per year for five years, aiming to reach a goal of 1 million under federal custody, building on what the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide ( ) Act, introduced by Senator Cynthia Lummis, had proposed before.　　Under ARMA, purchases would be conducted in a budget-neutral way, using revaluation to produce the funds needed for these acquisitions. It also introduces strict custody standards to avoid loss of digital assets due to unsafe security measures.　　Begich stated that ARMA “positions the United States to lead confidently in the digital age while protecting taxpayer interests, strengthening financial sovereignty, and reinforcing the principles of transparency and sound stewardship,” also reinforcing the relevance of private property rights in the digital currency ecosystem.　　Golden stressed that was not the “fringe phenomenon” it was once, and that Congress was due to set policies on what to do with the bitcoin held by the U.S.　　“Administrations have auctioned it off or held it

05-22

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