The Blockchain Bulletin, May 7: Uniswap Joins Sony’s Soneium Chain

Hey folks! Welcome to the latest edition of the Blockchain Bulletin, where we provide you with significant developments that took place in the crypto space over the last 24 hours. Uniswap has officially launched on Soneium, the Layer 2 blockchain developed by Sony in partnership with Startale Labs. This entertainment-focused network now supports token swaps, liquidity provision, and asset bridging directly through the Uniswap Web App and Wallet. With a design tailored to media, music, and gaming ecosystems, Soneium’s infrastructure aims to offer creators and fans a more scalable and immersive blockchain experience. This move also enhances Uniswap’s commitment to democratizing decentralized markets and deepening accessibility for content creators in Web3 environments.Related: Uniswap Enables Crypto Bank Transfers via Payment PlatformsMaking a philanthropic move, Ripple pledged $25 million, primarily in its stablecoin Ripple USD (RLUSD), to two leading U.S. education nonprofits, DonorsChoose and Teach For America. The initiative marks the first major education initiative in the U.S. funded mostly through stablecoins. The donation is set to provide vital classroom resources, supporting students and educators in adapting to an evolving job landscape. Notably, the initiative comes as public trust in the education system has declined, with 55% of U.S. adults expressing dissatisfaction, according to Gallup’s 2024 report. Ripple’s model emphasizes transparency and speed, demonstrating how blockchain infrastructure can drive efficient, real-time social support.In a continued effort to promote transparency, KuCoin has released its 30th consecutive Proof of Reserves (PoR) report, based on data as of April 30, 2025, 23:59 UTC+8. The exchange shows reserve ratios well above 100% across all major assets, with 10,306.78 BTC held against 9,751.17 BTC in user liabilities (106%), 168,779.13 ETH versus 145,807.40 ETH (116%), $1.34B USDT against $1.18B in user holdings (114%), and $93.4M USDC held versus $85.7M owed (109%). The report reinforces KuCoin’s commitment to solvency and operational transparency.New Hampshire has become the first U.S. state to establish a Strategic Bitcoin Reserve Fund, following the signing of HB 302 on May 6, 2025. The law permits up to 5% of the state’s financial reserves to be held in Bitcoin or regulated digital asset products, with all custody solutions required to comply with U.S. oversight. In contrast, Florida’s attempt to enact a similar policy has stalled, with both HB 487 and SB 550 officially withdrawn on May 3 due to legislative delays. Despite bipartisan support, the bills failed to advance past the committee stage, reflecting challenges other states like Wyoming and Pennsylvania have also faced in institutional crypto adoption.Taking a strong enforcement action, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Myanmar’s Karen National Army (KNA) for orchestrating widespread crypto-fueled fraud schemes, trafficking, and cybercrime. Designated as a transnational criminal organization, KNA leadership, including Saw Chit Thu and his sons, stand accused of operating scam compounds along the Thai-Myanmar border. These compounds, guarded by armed personnel, lease space to criminal syndicates and use blockchain channels to move illicit funds. The sanctions reflect growing global urgency to disrupt the misuse of digital assets in organized crime.Related: Flow Price Prediction 2025-2035: Will It Hit $200 by 2035?On the market front, XRP, after a rapid ascent from $0.55 to over $2 in late 2024 and a peak near $3.40 in January 2025, has now stabilized at $2.10. While some volatility persists, market analysts remain cautiously optimistic. According to Captain Faibik’s analysis, a potential surge to $5 is expected, while analysts Crypto Tony, Dark Defender, and John Squire have projected mid-range targets between $4.40 and $6.30, advising close monitoring of the $2 level. Moreover, Squire labeled XRP as “the biggest sleeping giant in crypto,” reinforcing sentiment that institutional and retail interest remains strong.Overall, the past day’s events shed light on the significant developments that took place in sectors like infrastructure, philanthropy, regulation, market dynamics, and institutional assurance against the ever-shifting and expanding blockchain landscape. From Sony entering Layer 2 innovation, to Ripple educating with stablecoins, and finally, U.S. regulators hitting with force, the convergence of cryptos and real-world utility has become very much palpable.The post The Blockchain Bulletin, May 7: Uniswap Joins Sony’s Soneium Chain appeared first on Cryptotale.