Three developments in four days made the US crypto and fintech landscape structurally different. On May 27, SoFi put a bank-issued stablecoin in 14.7 million people’s banking apps — the first time a federally chartered US bank has done that. On May 29, the CFTC opened regulated perpetual futures to US traders for the first time. And on May 26, a company formerly known as BIT Mining reported narrowing losses, an AI product launch, and an NYSE compliance notice on the same day.
Three different stories. Three different risk profiles. All of them matter.
SOLAI is trying to reinvent itself. The NYSE just flagged a problem.
SOLAI Limited (NYSE: SLAI) — formerly BIT Mining, rebranded October 2025 — reported Q1 2026 results on May 26. Revenue: $7.9 million, up 19.7% year over year. Net loss narrowed to $6.7 million. The growth came from its Ethiopia 55 MW data center. Self-mining revenue fell as crypto prices declined and the company shut down its Dogecoin and Litecoin mining operations.
The pivot story is more interesting than the revenue line. SOLAI launched Solode Neo in April — a personal AI node that lets individual users run self-hosted, always-on AI agents. CEO Xianfeng Yang described it as putting “self-hosted, always-on AI agents in the hands of everyday users for the first time.” The company is repositioning around blockchain-based AI infrastructure and Solana staking alongside its legacy mining operations.
On the same day as the earnings release, SOLAI disclosed an NYSE compliance notice. The letter, dated April 27, notified the company it had fallen below $50 million in average market capitalization and below $50 million in stockholders’ equity over a 30-trading-day period. SOLAI has submitted a remediation plan and has 18 months to regain compliance under NYSE rules. If it cannot, the stock faces potential delisting. The stock trades at $0.79 — down 72% from its 52-week high. Filings on SEC EDGAR.
SoFi put a bank-issued stablecoin in 14.7 million people’s banking apps.
May 27. SoFi Technologies (Nasdaq: SOFI) launched SoFiUSD to its full retail membership — approximately 14.7 million users. SoFiUSD is the first stablecoin issued by a US national bank to be available directly through a consumer banking app on a public blockchain. The token runs on Ethereum and Solana, is redeemable 1:1 for US dollars through SoFi Bank, and is backed by reserves held in cash or highly liquid cash equivalents with regular independent CPA attestations.
Members can buy, sell, hold, and convert SoFiUSD inside the app alongside loans, savings, investing, and crypto trading. SoFi also announced integration with Galileo, its technology platform with 160 million accounts, which would allow client institutions to offer SoFiUSD as a payment option. A planned Mastercard settlement integration would extend it further into institutional payment infrastructure.
Two features still to come: interest-earning tokenized deposits that may qualify for FDIC insurance, and a listing on Bullish, the regulated centralized exchange, for institutional-grade trading. Both are announced plans and have not yet launched. The GENIUS Act (the stablecoin regulatory framework signed into law in 2025) established the federal framework that made SoFiUSD possible. SoFi’s market cap is well above the typical threshold for this roundup and is noted in the disclosure. Filings on SEC EDGAR.
The CFTC just opened 80% of global crypto markets to US traders.
May 29. CFTC Chair Mike Selig approved the first regulated Bitcoin perpetual futures (leveraged derivatives contracts with no expiration date, allowing traders to speculate on crypto prices indefinitely) contracts in the US. Kalshi received approval for its BTCPERP contract, making it the first CFTC-registered exchange to list a true perpetual. Simultaneously, the CFTC issued a no-action letter permitting Coinbase (Nasdaq: COIN) to offer perpetual futures to US customers via its CFM subsidiary, routing through Coinbase Bermuda and its Deribit acquisition.
Selig called it “historic action.” Coinbase CEO Brian Armstrong said US users had been “locked out of roughly 80% of global crypto markets” until this moment. Global perpetual futures trading volume hit $61.7 trillion in 2025 — up 29% year over year — and the US had no regulated domestic venue. That changed on May 29.
The risk that comes with this product is not theoretical. Perpetual futures support leverage up to 50x. In the days after the approval, a leverage cascade liquidated approximately $1.8 billion in crypto positions. That is not an argument against the CFTC’s decision — but it is the context every reader should have before drawing conclusions about what the approval means for the market. Coinbase is a large-cap company; its market cap is well above the typical threshold for this roundup and is noted in the disclosure.
What to Watch
SOLAI NYSE compliance: the company has 18 months to regain compliance. Watch for any capital raise, asset sale, or operational announcement that materially changes the market cap or equity position. The next quarterly results will be the first test of whether the revenue trajectory can close the gap.
SoFiUSD full rollout: full availability across all members expected by early June as users update to the latest app version. The first major metric to watch is SoFiUSD total supply outstanding — that will show whether members are actually holding it or immediately converting back to dollars.
Coinbase perpetual launch timeline: Coinbase has indicated it does not expect to launch immediately following the no-action letter. Watch for any announcement of a specific launch date for CFM perpetual futures access.
Sol Strategies Houdini close: the acquisition of HoudiniSwap closed June 1, one day after the close of this coverage window. The combined Solana validator plus cross-chain routing business is now operational. Worth tracking as the first Q3 revenue numbers including Houdini come through.
Sources
- PRNewswire: SOLAI Q1 2026 financial results, May 26, 2026
- PRNewswire: SOLAI NYSE compliance notice, May 26, 2026
- SoFi Technologies IR: SoFiUSD launch press release, May 27, 2026
- CoinDesk: SoFi launches bank-issued stablecoin to 15 million users, May 27, 2026
- CoinDesk: CFTC opens crypto perpetual futures door with first approval, May 29, 2026
- CoinMarketCap: CFTC clears Bitcoin perpetual futures for US markets, May 29, 2026
- Loeb and Loeb: SoFi launches first bank-issued stablecoin on consumer banking app, legal analysis, June 2026
- Investing News Network: Sol Strategies closes Houdini Swap acquisition, June 2, 2026
Editorial Disclosure
This roundup is based entirely on publicly available information including press releases, regulatory filings, and earnings disclosures. Securities discussed include SOLAI Limited (NYSE: SLAI), SoFi Technologies Inc. (Nasdaq: SOFI), and Coinbase Global Inc. (Nasdaq: COIN). Sol Strategies Inc. (CSE: HODL) (Nasdaq: STKE) is referenced in the forward look section. aktiego.com has not received any compensation from any company mentioned, their management, investor relations representatives, or any third party. No staff member or principal of aktiego.com holds a position in any security mentioned at the time of publication. All information is sourced from company IR pages, SEC EDGAR, and named wire services. SOLAI Limited is currently subject to an NYSE continued listing standards compliance notice issued April 27, 2026; the company has 18 months to regain compliance and faces potential delisting if it cannot. SOLAI Limited was formerly known as BIT Mining Limited (ticker BTCM) and rebranded in October 2025. SoFi Technologies’ market capitalization is above the typical size threshold for this roundup and is noted accordingly. SoFiUSD’s planned features including tokenized deposits, FDIC-eligible accounts, Bullish listing, and Mastercard settlement are announced plans that have not yet launched. Coinbase Global’s market capitalization is above the typical size threshold for this roundup and is noted accordingly. The CFTC’s perpetual futures approval for Coinbase is structured as a no-action letter and does not represent a formal rulemaking; Coinbase has indicated it does not expect to launch the product immediately. The leverage cascade and $1.8 billion in liquidations described in the article occurred after the close of the coverage window but are included as material risk context. Sol Strategies’ Houdini Swap acquisition closed June 1, 2026, one day after the close of this coverage window; it is referenced in the forward look only. These are speculative investments carrying significant risk including potential total loss of capital. Digital assets are highly volatile. Coverage on aktiego.com is provided for informational and educational purposes only. aktiego.com is not a registered investment advisor. Nothing in this article constitutes financial, investment, or professional advice. Readers are encouraged to conduct their own due diligence and consult a qualified financial advisor before making any investment decisions. For more information please see our full DISCLAIMER.
