PDC News & Events

Matthew Nicoletti, CSO, Perpetuals.com (PDC), on a proposed transaction with AI Financial Corporation (AIFC): "Perpetuals has signed a non-binding term sheet to explore the potential acquisition of AI Financial Corporation's profitable subsidiary Alt5 Sigma Canada. Perpetuals is currently conducting our due diligence. No decisions have been made while we evaluate how this potential transaction could further fuel Perpetuals's growth and complement our product roadmap."

Perpetuals.com announced that UpsideOnly, its risk-free trading and market prediction platform, has seen a surge in new user sign-ups, surpassing the important milestone of 100,000 traders within weeks of its launch on May 19. The company said, "Reaching 100,000 users so quickly after launching is a reflection of the enormous demand for a platform that flips the traditional retail trading model on its head, with early platform data showing strong engagement across asset classes, geographies and user activity: Users from more than 180 different countries; $38.4B in cumulative platform volume; 1,110,385 fills across 25 instruments; US Crude Oil Futures was the most-traded asset, ahead of Bitcoin."

Galaxy Digital becomes one of the first major crypto firms to offer institutional OTC access to prediction markets, MoneyGram rolls out a native stablecoin on the Stellar blockchain, HIVE Digital posts a 158% revenue surge, and Charles Schwab brings near-24/7 crypto futures to thinkorswim. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.GALAXY ENTERS PREDICTION MARKETS OTC:Galaxy Digitallaunched an institutional OTC prediction markets trading desk through its Global Markets division, offering derivatives exposure to contracts on Kalshi and Polymarket, as the company. The desk revealed a $10M inaugural trade with crypto hedge fund Arca tied to outcomes associated with the passage of the CLARITY Act, illustrating that legislative risk is now being actively hedged in institutional size.framed the move as Galaxy Digital applying derivatives infrastructure already common in rates and commodities markets to an emerging asset class. The development broadens Galaxy Digital's Global Markets offering into prediction markets and adds a business line linked to event contracts rather than only spot crypto trading, a meaningful distinction given that bitcoin dropped as much as 3% to $69,500 on Tuesday, its lowest level since April 8, on Iran-war anxiety, per.MONEYGRAM LAUNCHES NATIVE STABLECOIN:MoneyGram Internationallaunched MGUSD, a native USD stablecoin built on the Stellar blockchain, issued by Bridge, and integrated with Fireblocks custody and M0 smart contracts, the company. The release confirmed the stablecoin deploys initially in the U.S. market with global expansion planned, positioning MoneyGram's nearly 500,000-location global agent network as on-chain rails rather than legacy wire infrastructure. The move reflects a broader pattern of incumbent payment and remittance companies replacing correspondent banking relationships with self-issued stablecoins. The question is whether MoneyGram can convert its agent network into a distribution moat before fintech competitors and crypto-native platforms capture the same corridors.HIVE REPORTS 158% REVENUE SURGE:HIVE Digitalreported FY26 total revenue of $297.8M, up 158% vs. last year, with bitcoin mining contributing $278.3M and its BUZZ HPC division adding $19.5M, up 94%, as the earnings release. The company mined 2,885 bitcoin during the fiscal year and carries $35M in contracted HPC annualized recurring revenue, with management guiding toward $660M ARR by year-end 2028. To fund a planned 320 MW sovereign AI infrastructure campus in the Greater Toronto Area targeting approximately $360M annualized ARR, HIVE Digital closed a $115M private placement of 0% Exchangeable Senior Notes due 2031, netting approximately $109.5M in proceeds. The 0% coupon and capped-call structure, which limits dilution up to a 125% share-price premium, represents a convertible financing template increasingly common among mining operators transitioning to AI infrastructure.SCHWAB OPENS NEAR-24/7 CRYPTO FUTURES:Charles Schwabactivated near-24/7 crypto futures trading on its thinkorswim platform covering bitcoin, ether, solana, and Ripple products, alongside expanded fractional share trading, the company. The rollout narrows the product gap between Charles Schwab's retail brokerage offering and the around-the-clock access that crypto-native platforms already provide, competing directly for the active retail segment.MINERS AND AI PIVOTS:SOLAIcompleted the acquisition of a 51% stake in Singapore-based personal AI node manufacturer Neuraland for approximately $9.18M in newly issued shares, the company. Separately, Cipher Digitalheld its annual meeting of stockholders with governance votes covering board composition and auditor ratification, asshowed Cipher Digital advancing an $11.4B hyperscale revenue pipeline anchored by AWS and Google datacenter leases.TREASURY AND PLATFORM NOTES:Hyperscale Datadisclosed its subsidiaries held 704.3405 bitcoin valued at approximately $51.8M as of May 31, based on a $73,579 closing price, with no new open-market purchases during the week, the press release. KIDz AIannounced it is winding down its solana treasury exposure and repositioning around the Hyperliquidecosystem and yield-bearing USD stablecoins, the release. OCC-chartered BitGo Holdingspartnered with institutional DeFi protocol Concrete to launch an on-chain asset growth platform combining custody with DeFi yield optimization, the companies. Perpetuals.comreported $4.5B in UpsideOnly platform volume and signed a listing agreement with Datavault AIto tokenize real-world commodity assets on its platform, the announcement.PRICE ACTION:As of time of writing, bitcoin was trading at $67,961.30, while ether was trading at $1,937.81,.