Ryan Salame, the former FTX executive sentenced to 7.5 years in prison, is seeking to have his conviction vacated, alleging that the government breached a plea deal. According to court filings, Salame agreed to plead guilty to campaign finance violations in exchange for the government dropping its investigation into his partner, Michelle Bond.
Bond, a former Republican congressional candidate and now a fintech think tank CEO, is under investigation by federal prosecutors for alleged campaign finance violations related to contributions made by Salame and others to her 2022 congressional campaign.
Salame’s attorneys argue that the government used the plea negotiations to coerce Salame into accepting a guilty plea by threatening to pursue charges against Bond. Despite Salame’s cooperation, the government allegedly failed to honor its implied commitment to drop the investigation.
The filing states that Salame is entitled to hold the government accountable for its assurance and is requesting that the court either withdraw his plea or order specific performance from the government.
Salame’s public stance on the matter remains defiant, as he expressed his hope that his court filing will encourage others to be honest and expose “un-American tactics.” He emphasized the importance of a just and fair justice system, highlighting the fragility of such institutions.
It's all true but I just made a court filing I'm pretty nervous about because I know it means the most powerful body in the world is going to come at me and my loved ones again, but I'm hoping it encourages more people to be honest and tell the truth and expose un-American…
This legal battle between Salame and the government sheds light on the complexities of plea deals and the potential for government overreach. As the case progresses, it will be interesting to see how the court responds to Salame’s claims and whether the government will be held accountable for its alleged breach of the plea agreement.
Circle’s Cross-Chain Transfer Protocol (CCTP) facilitated $7.7 billion in stablecoin bridging volume in May, an all-time high and an 83.3% increase from April.
The firm launched its IPO last week, rejecting outright buyout efforts to remain an active player in the stablecoin market. This impressive growth can help demonstrate Circle’s progress and solid foundations.
This CCTP volume is especially relevant for Circle for another reason. Specifically, the total number of active stablecoin addresses also reached a new record last month: 33.1 million.
In a time when the total demand for stablecoins and utility solutions is only growing, Circle is working to present its payments ecosystem as an attractive option.
CCTP’s record growth could signal Circle’s long-term market potential, better enticing new capital investment. The stablecoin issuer already increased its IPO size today, setting a more ambitious target of $896 million.
While the number of active stablecoin addresses is rising, major investment banks are planning to substantially increase their presence in the industry.
In other words, Circle’s record CCTP growth comes at a useful time. USDC’s trading volume also broke records in April, and now the stablecoin’s utility protocols are surging, too.
Circle is intent on remaining an independent company and positioning itself as a strong contender in this sector. To do this, it will need positive metrics like CCTP’s volume to move the market.
Airdrop tokens are under the spotlight as Kadena (KDA), Huma Finance (HUMA), and Sophon (SOPH) face volatile market reactions following their recent distributions.
Kadena kicked off a Galxe campaign with a $55,000 prize pool but remains down 14.4% in the last week. HUMA has dropped over 51% in just three days after its Season 1 airdrop, despite strong investor backing. Meanwhile, SOPH plunged 33% within 24 hours of launch due to a massive token unlock and continues to test key support levels amid high leverage and limited utility.
Kadena (KDA)
Kadena leads the list of top crypto airdrops for the final week of May, raising over $35 million with backing from major investors like Multicoin Capital, CoinFund, and SV Angel.
The project, a Layer 1 Proof-of-Work blockchain focused on scalability, launched a confirmed airdrop campaign through Galxe with a 100,000 KDA prize pool—valued at around $55,000.
Users can participate by completing tasks such as connecting wallets, joining social channels, or holding KDA tokens. The campaign runs until August 24, offering a strong incentive for community engagement and ecosystem growth.
However, if sentiment shifts and buying pressure returns, the token may retest resistance at $0.54, with further upside potential toward $0.621 and $0.677.
Huma Finance (HUMA)
Huma Finance recently unveiled its full tokenomics and Season 1 airdrop details, allocating 5% of the total 10 billion HUMA token supply to early users.
Backed by major investors like Circle and HashKey Capital, Huma is positioning itself as a first mover in the emerging PayFi sector. It aims to merge instant payments with DeFi and real-world assets.
Despite raising over $46 million and planning a second airdrop of 2.1% post-TGE, the project faced criticism for its relatively low initial airdrop allocation.
The team insists this is just the beginning, but market engagement has been modest, signaling shifting user preferences toward newer airdrop models.
Since the airdrop, HUMA has plunged more than 51% in just three days, reflecting a lack of buying support following the airdrop. If the current downtrend continues, the price could fall below $0.0503, testing new lows.
However, if sentiment shifts and the token finds support, it could rebound to challenge resistance at $0.055. A stronger rally could even push HUMA up toward $0.0596, though sustained momentum would be needed to reverse the early bearish pressure.
Sophon (SOPH)
Sophon’s SOPH token dropped over 33% within 24 hours of its debut and Binance listing, primarily due to the sudden release of 900 million airdropped tokens.
Despite strong backing—including over $70 million in funding and support from Binance Labs—the token’s limited immediate utility and the overwhelming supply shock triggered a sharp sell-off.
Adding to the volatility, Binance assigned SOPH a “seed tag” and enabled futures trading with up to 75x leverage, amplifying price swings.
SOPH is now hovering near a key support level at $0.056, which may be tested soon if pressure continues. Should the token regain bullish momentum, it could challenge resistance at $0.059.
A strong uptrend could push SOPH further to $0.061, $0.064, and possibly $0.067.
