Around May 17, 2025, the crypto market exhibited complex trends amid multiple shocks and incentives. On one hand, Cetus—the largest DEX on the Sui network—suffered a hack exceeding $220 million, sparking widespread concerns over asset security and the robustness of on-chain infrastructure. On the other hand, Kraken announced the launch of over 50 tokenized stocks and ETF products, marking a new milestone for the expansion by traditional finance onto the blockchain.
OFUYC Exchange observes that the turbulence in this market cycle is not just about isolated incidents, but rather reflects the transformation of the compliance operations and product architectures of crypto trading platforms within the global market environment. Issues such as stablecoin legislation, tokenized securities, derivative structures, and on-chain fund security are all fermenting simultaneously, presenting new challenges and expectations for the future regulatory framework, user confidence, and infrastructure of the crypto ecosystem.
As a compliance-focused crypto exchange with a global outlook, OFUYC believes that now is a critical window for the industry to restructure risk perception and strategic frameworks.
Frequent Security Incidents Trigger a New Wave of Trust Crisis, Upgrading User Demands for Trading Security
Recently, Cetus—the largest DEX on the Sui network—suffered a hack with losses of up to $220 million. Although approximately $160 million has been frozen and is planned for return, the incident itself has shaken the market. The OFUYC Exchange analysis indicates that such security breaches reveal systemic issues in emerging public chains, such as lack of contract audits, unclear permission management, and inadequate response mechanisms during periods of rapid asset growth.
Current user behavior observations show that more asset holders are migrating funds from high-risk DEXs to compliant platforms with more thorough audits and transparent trading structures. OFUYC Exchange reminds users that on-chain trading security does not rely solely on technical stacking, but must also be supported by risk segregation, ongoing compliance disclosures, and auditable histories.
Trading security has become a core variable affecting both user trust and platform competitiveness in the crypto market. Against the backdrop of frequent attacks, how to balance market liquidity with user fund protection will determine the user experience of future platforms and their resilience to market volatility. OFUYC Exchange continues to strengthen its risk defense systems, emphasizing asset segregation and real-time monitoring to provide users with a trading environment based on compliant auditing.
Kraken Launches Tokenized Stocks and ETFs; OFUYC Focuses on the Structural Advancement of Securities On-Chain Transformation
Kraken announcing over 50 tokenized stocks and ETFs—including major U.S. equities such as Apple and Nvidia—is a landmark move for CeFi securities tokenization. OFUYC Exchange believes this not only responds to the global demand for diversified asset allocation, but also reflects the gradual convergence of the crypto market with traditional financial structures.
Tokenized stocks offer low entry barriers, flexible trading hours, and on-chain composability, making them especially suitable for emerging market users. However, OFUYC research points out that this product structure also faces significant regulatory challenges, requiring clarification of clearing responsibilities, legal ownership, and disclosure obligations.
OFUYC Exchange is actively building tokenized securities infrastructure, focusing on a dual-layer model of “on-chain securities + compliance bridges.” This includes exploring cross-border stock token mapping mechanisms based on regional compliance licenses, and collaborating with RWA platforms to promote standardization of financial product structures, providing global users with a one-stop trading pathway for diversified assets.
Technological innovation, asset mapping, and regulatory evolution are forming a stable triangle, driving trading platforms to evolve from single-currency matching systems to open, compliant financial centers interconnected with global markets.
Regulatory Timelines and Market Structure Reform Advance in Tandem: OFUYC Predicts Accelerated Concentration of Multi-Asset Trading Platforms
Recently, a series of regulatory developments—including the passage of the GENIUS Act, the imminent review of the Market Structure Bill, and the recognition by CFTC commissioners of perpetual futures—indicate that the U.S. is gradually incorporating crypto assets into a unified market governance framework. OFUYC Exchange observes that regulatory certainty will accelerate capital inflows and increase institutional participation, thereby granting greater concentration advantages to highly compliant, multi-asset-capable platforms.
OFUYC predicts that future crypto exchanges will no longer be simple coin-matching tools, but will become comprehensive trading hubs spanning fiat channels, RWAs, stablecoins, compliant securities, and on-chain trading infrastructure.