Hyperliquid Pushes Into Macro Outcome Markets With HIP-4

Hyperliquid expanded HIP-4 outcome contracts beyond crypto price milestones, letting traders bet on macro events such as inflation data and interest-rate decisions from one account. The rollout puts the decentralized derivatives venue into direct competition with Polymarket while keeping event trading beside crypto perpetuals.

The product differs by settling outcomes through Hyperliquid validators, which ingest external information and vote on results, rather than using an external oracle dispute system. Polymarket relies on UMA’s optimistic process, a model that has drawn criticism after controversial resolutions and questions over tokenholder influence.

Hyperliquid structures the contracts as fully collateralized binary positions, not leveraged bets, so traders can lose only the amount paid upfront. A Yes contract bought at 0.65 USDC settles at 1 USDC if correct or zero USDC if wrong.

The broader aim is to turn Hyperliquid into a multi-asset trading venue where users hedge crypto, macro, and event risk without moving collateral elsewhere. If adoption grows, the platform could pair HIP-3 perps on equities or commodities with HIP-4 outcome markets around earnings, inflation, or policy decisions.

Ondo Founder Dies as CEO Role Changes

Ondo Finance said founder and CEO Nathan Allman died unexpectedly, leaving a major tokenized real-world asset firm he built after working at Goldman Sachs. The company named president Ian De Bode as CEO. De Bode has led strategy, product, and operations for more than two years.

Allman founded Ondo in 2021 and helped build products including USDY, OUSG, and tokenized equities through Ondo Global Markets. The company did not disclose a cause of death. De Bode said Ondo’s mission remains unchanged and pledged to continue executing Allman’s vision.

Base L2 Gives AI Agents Wallet Control

Base launched Base MCP, a tool connecting Base Accounts to AI clients such as ChatGPT, Claude, and Cursor through the Model Context Protocol. Users can ask agents to send funds, swap tokens, check balances, review history, and use DeFi apps without navigating crypto interfaces.

The launch covers Base DeFi integrations including Morpho, Moonwell, Uniswap, and Avantis, giving conversational AI access to lending, liquidity, swaps, and perps workflows. Base framed the product as a step toward agentic app discovery, where chat interfaces become a primary route into onchain services.

Spain Blocks Polymarket and Kalshi Nationwide

Spain’s gambling regulator ordered Polymarket and Kalshi blocked nationwide while disciplinary proceedings examine whether both platforms operated without required authorization. Officials classify prediction markets as gambling when users bet on uncertain outcomes. The precautionary block is expected to remain while proceedings continue for three to four months.

The action follows similar restrictions in Indonesia, Brazil, Portugal, and Argentina, intensifying pressure on prediction market operators outside the United States. Spanish officials said unauthorized platforms lack required identity checks, minor protections, and self-exclusion tools, creating regulatory gaps under national gambling law.

Data of the Day

Bernstein Research said tokenized real-world assets reached $51 billion, up 42% this year, with private credit accounting for roughly 44% of the total. The estimate exceeds RWA.xyz’s $34 billion figure, reflecting differences in how analysts count tokenized loans, funds, and hybrid structures.

Figure ranked first among tokenized RWA platforms with $18 billion in assets, driven by blockchain-based loan origination and settlement. Bernstein also highlighted tokenized Treasurys, commodities, and onchain RWA derivatives, with Hyperliquid handling $65 billion in April volume tied to real-world asset markets.

More Breaking News

• Binance plans a Philippine comeback through BlockShoals under the SEC StratBox sandbox while exchange access remains blocked after prior licensing concerns and regulator warnings.
• The UK sanctioned Justin Sun-linked HTX over alleged Russia sanctions evasion ties, barring British firms from business relationships and forcing crypto-linked freezes.
• SharpLink will join the Russell 2000 and 3000 indexes, potentially attracting passive inflows even after its Ethereum treasury stock fell 95% from peak.
• Umbra and Streamflow launched confidential Solana token vesting, targeting a $97 billion unlock market where public schedules can expose wallets and invite front-running.
• Strategy used 61% of its cash buffer to repurchase $1.5 billion in convertible notes, keeping its 843,738 bitcoin stack untouched.
• Stable launched StableEarn, a USDT-native yield product routing deposits into real-world asset strategies tied to Treasurys and gold through Theo and Morpho.
• Hong Kong advanced licensing plans for virtual asset advisers and managers, setting capital requirements while targeting a 2026 bill under anti-money laundering rules.

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