News linked to both this project and an event.
that, according to the latest report from crypto lending platform Ledn, the global market for Bitcoin-backed consumer lending could grow nearly 300 times over the next decade, reaching $1 trillion, while a significant amount of potential demand remains untapped.The report cites a survey conducted by consumer research firm Protocol Theory among 1,244 cryptocurrency holders in the United States and Australia. It shows that approximately 88% of respondents are willing to consider using crypto-backed loans or credit products, but only 14% have actually used such services, creating a so-called "6:1 interest-to-adoption gap."Ledn estimates that the current global market size for Bitcoin-backed consumer lending is around $3 billion. In comparison, Galaxy Research previously estimated the entire crypto lending market peaked at $73.6 billion in the third quarter of 2025. Ledn co-founder Mauricio Di Bartolomeo stated: "The demand-side problem has been solved. What the industry is truly missing right now is the trust infrastructure that allows borrowers to build confidence."The survey indicates that the core factors hindering user adoption of crypto-backed lending are not a lack of awareness, but concerns over price volatility, forced liquidation risks, and regulatory uncertainty. When choosing a lending platform, users prioritize platform reputation, custody security, transparency, and risk management over simple interest rates. The report argues that crypto-backed lending is essentially similar to "stock-backed financing" or "home equity loans" in traditional finance, allowing users to obtain liquidity without selling their long-term holdings. (CoinDesk)
Hyperliquid has recently significantly outperformed the broader market. Its token, HYPE, hit an all-time high following the launch of two related ETFs in the United States. Meanwhile, European traders are accelerating their migration to the platform due to restricted access to perpetual contracts on regulated exchanges. Market analyst Michael van de Poppe stated that with Hyperliquid's continued rally and renewed interest in AI-related crypto projects, signs of improving risk appetite are emerging in the altcoin market. Hyperliquid’s expansion into tokenized stocks, commodities, and pre-IPO assets is strengthening the on-chain asset tokenization trend. He suggested that if market sentiment continues to improve, HYPE’s price could target $100 or even higher.However, Michael van de Poppe also stressed that while Hyperliquid holds a short-term advantage, Solana offers greater long-term investment certainty, transitioning from a "speculative ecosystem" to institutional-grade infrastructure. In the AI track, he noted that NEAR Protocol and Bittensor remain significantly undervalued, citing a disconnect between their fundamental growth and valuations. He pointed out that NEAR’s revenue growth potential and Bittensor’s subnet expansion could support higher valuation ranges. Additionally, he indicated that the privacy sector retains long-term demand, but fully anonymous systems face regulatory pressure. The future is more likely to be dominated by zero-knowledge proofs and compliant privacy solutions.On the macro level, Michael van de Poppe highlighted that bond yields and central bank policies remain the core drivers of the crypto market, with changes in Japanese government bond yields potentially serving as a key barometer. (CoinDesk)
Syndicate Labs stated that after five years of developing on-chain infrastructure for customizable Ethereum Rollups and sequencers, the company has decided to shut down due to a drastic contraction in the Rollup market. Syndicate Labs previously completed a $20 million Series A funding round led by Andreessen Horowitz in 2021.This decision caused the SYND token price to drop 21% in the past three hours, hitting an all-time low of $0.012, a 99.5% decline from its peak of $2.61 in September 2025.Additionally, Syndicate Labs stated that the Syndicate Network Collective operates independently of Syndicate Labs, so the governance of the SYND token will not be immediately affected. The decision to shut down was not influenced by the previous hacking incident involving bridged assets.
Odaily News, Greeks.live analyzed on X platform that today, Bitcoin Put block trades accounted for nearly 40% of the total volume. The concentrated trades were bear put spreads for end-of-May, involving $75,000/$71,000 strikes, with a total notional value of nearly $200 million. Investors are leveraging the rebound to build defensive positions for the last ten days of the month.Overall, the market leans towards hedging against a pullback but does not anticipate a crash. May and June have traditionally been considered unfavorable months for the market. This month, major investors have been consistently increasing their defensive positions: buying effective protection, selling tail risk financing, and controlling costs.
According to NADA NEWS, ReYuu Japan, a company listed on Japan’s Tokyo Stock Exchange Standard Market, announced that, following mutual consultation, it has terminated the basic agreement with Canadian investment firm Universal Digital Inc. regarding a financing framework of up to USD 100 million (approximately JPY 15 billion). The agreement was originally intended to advance external financing arrangements related to ReYuu Japan’s Digital Asset Treasury (DAT) strategy; however, it was not a formal loan agreement, and neither the financing framework nor any actual borrowing had been finalized prior to termination. ReYuu Japan stated that the capital market environment for publicly listed companies pursuing digital asset treasury strategies has changed, with investors adopting a more cautious stance. The termination does not signify the suspension of its digital asset treasury strategy; rather, the company will continue evaluating the strategy in light of market conditions, financial soundness, and shareholder value.
according to sources familiar with the matter, MetaMask developer Consensys has postponed its U.S. IPO plans to earliest this fall. The company originally planned to submit a draft S-1 filing with the SEC by the end of February, but market demand weakened due to the market downturn in February, macroeconomic uncertainty, and Bitcoin ETF outflows. Besides Consensys, Kraken and Ledger have also paused their IPO plans.Consensys completed a $450 million funding round in 2022 at a valuation of $7 billion. Additionally, BitGo, which was the first crypto company to go public in 2026, raised $213 million but has since seen its stock price drop 36% from its $18 offering price, reflecting the public market's cautious approach toward valuing crypto infrastructure companies.
Odaily Odaily News Gate Research recently released its "April 2026 Cryptocurrency Market Review" report, indicating that the overall cryptocurrency market saw a volatile upward trend in April, with total market capitalization significantly higher than in March. BTC and ETH ETF trading volumes maintained high volatility overall. The report shows continued divergence in activity across major public chain ecosystems. Solana's daily transaction volume remained in the range of approximately 90 million to 110 million transactions, maintaining its leading position.Regarding trending sectors, the report notes that Pokemon TCG RWA has become one of the fastest-growing on-chain RWA sub-sectors, entering a second explosive growth phase in April. Major trading platforms saw monthly trading volumes exceed $220 million, with weekly revenue briefly approaching $6 million, setting new historical records. Meanwhile, Aave experienced its most severe liquidity crisis ever in April, with TVL outflows reaching tens of billions of dollars within a few days and net outflows exceeding $9 billion for the entire month.In terms of fundraising and security incidents, the Web3 industry completed 51 financing rounds in April, totaling approximately $834 million, with capital further concentrating on leading financial and infrastructure tracks. Among these, Payward ranked first for the month with a $200 million financing round. On the security front, Web3 security incidents in April resulted in losses of approximately $306 million, a month-over-month increase of about 858%, primarily driven by a single cross-chain infrastructure attack on Kelp DAO worth approximately $293 million. The report suggests that against the backdrop of a recovering market, on-chain activity and capital liquidity are both increasing simultaneously. However, the security risks associated with cross-chain infrastructure and high-leverage protocols remain worthy of continued attention.
According to Bloomberg, AI chip company Cerebras raised $5.55 billion in its U.S. initial public offering (IPO), making it the largest IPO since 2026. Its offering price was set at $185 per share—above the previously announced range of $150 to $160—implying a market capitalization of approximately $40 billion and a fully diluted valuation of about $49 billion. The report states that the offering was oversubscribed by more than 20 times, and the shares are expected to begin trading under the ticker symbol “CBRS” on the Nasdaq Global Select Market. Regulatory filings indicate that OpenAI holds 33.4 million Cerebras warrants, with certain vesting conditions tied to computing-power delivery milestones and Cerebras’ market capitalization exceeding $40 billion.
Delphi Digital stated that Strategy has primarily relied on issuing stocks at high premiums and low-cost convertible bonds over the past years to secure funds for continuously increasing its Bitcoin holdings. However, this financing window is now essentially closed.Delphi points out that common stock financing is currently constrained by the Market-Adjusted Net Asset Value (mNAV), and new convertible bond issuance has also been suspended. STRC has thus become its primary financing channel. Since STRC has a lower repayment priority in the capital structure compared to convertible bonds and preferred shares, it requires a high yield of approximately 11.5% to compensate investors for the impairment risk they bear.Delphi believes that Strategy is currently continuing its Bitcoin accumulation plan by paying higher financing costs, buying time to address the large debt repayments maturing in 2028.
Odaily Odaily News According to the latest weekly report from Gate Ventures, global markets continued to strengthen last week, driven by the technology sector. Both the S&P 500 and the Nasdaq index hit new record highs, with the S&P 500 gaining 2.36% for the week and the Nasdaq rising 4.52%. In the crypto market, BTC rose 4.6% last week, ETH rose 2.1%, spot BTC ETFs recorded net inflows for the fifth consecutive week, and market sentiment recovered to the neutral range. Additionally, the total market cap of cryptocurrencies excluding the top ten assets increased by 12.6% for the week.On the macroeconomic front, the ISM Services Price Index rose to 70.7, a two-year high, coupled with energy price fluctuations and the Federal Reserve's policy expectation of "keeping interest rates higher for longer," leading to increased market focus on a "stagflation" environment. On the industry level, Payward, the parent company of Kraken, has applied to the OCC for a national trust charter, highlighting the increasingly evident trend of industry compliance. In terms of investment and financing, 10 deals were completed last week totaling $34.2 million, primarily concentrated in the DeFi and infrastructure sectors. Among them, OpenTrade completed a $17 million funding round to accelerate the development of institutional-grade stablecoin yield infrastructure; OnRe secured a $5 million Series A round to advance its Solana-based tokenized reinsurance product offerings.
According to CNBC, AI chip company Cerebras Systems is expected to raise the size and price range of its initial public offering (IPO) as early as Monday, increasing the offering price from $115–$125 per share to $150–$160 per share and raising the number of shares offered from 28 million to 30 million. At the upper end of the revised range, Cerebras could raise approximately $4.8 billion—up from the originally planned $3.5 billion. Sources indicate that the IPO’s subscription volume has already exceeded available shares by more than 20 times. Cerebras expects to price its IPO on May 13 and plans to list on the Nasdaq Global Select Market under the ticker symbol “CBRS.”
: Crypto analyst Axel Adler Jr stated that although Bitcoin rebounded after falling from around $125,000 to $60,000, the current trend remains a "repair after decline" and has not yet been confirmed as entering a new bull market cycle.He pointed out that from an on-chain data perspective, multiple key indicators have not yet entered the historical bear market bottom range. This includes the "Supply in Loss" and 90-day UTXO-related metrics, which have not yet shown a sufficient cyclical bottom structure. Meanwhile, the "LTH Realized Supply" has also not displayed the typical accumulation pattern seen at the end of a bear market, indicating that the market has not yet entered a deep reallocation phase.Additionally, spot selling pressure indicators have not shown obvious "capitulation selling", suggesting that a typical comprehensive market cleansing has not occurred during this decline. Axel Adler Jr believes that before improvements are seen simultaneously in on-chain structure, spot demand, and supply pressure, the current upward move is more likely a technical rebound rather than a trend reversal.On a macro level, he pointed out that the global risk environment remains tight. The conflict between the US and Iran has pushed Brent crude oil close to $100 per barrel, reigniting inflationary pressure. Consumer confidence and financial health indices are weakening, indicating pressure on the demand side. Meanwhile, US Treasury yields remain high, with real interest rates and inflation expectations rising concurrently, further suppressing risk asset valuations.He also mentioned that the leadership of the US Federal Reserve is about to enter a potential transition phase, but the interest rate market is no longer pricing in rapid rate cuts and has even begun to price in the probability of rate hikes. Market expectations have clearly shifted towards "higher for longer". In an environment of high oil prices, high interest rates, and uncertain monetary policy, overall financial conditions remain tight.Axel Adler Jr stated that the current market needs to wait for clearer on-chain bottom structures and signs of demand-side recovery. Until then, he maintains a cautious stance on the market outlook.
According to Yicai, recent reports indicate that DeepSeek is launching its first round of financing, attracting interest from companies including Tencent and Alibaba in discussions regarding equity investment. However, negotiations between Alibaba and DeepSeek recently broke down. Today, a market source told Yicai reporters that Alibaba likely did not engage in such negotiations.
: A source close to DeepSeek revealed that Alibaba and DeepSeek could not reach an agreement on specific financing terms. On one hand, Alibaba's own ecosystem is not highly compatible with DeepSeek, and DeepSeek is not short of potential external investors, hoping to minimize restrictions on the terms.Additionally, DeepSeek and potential shareholders are currently in negotiations. Bloomberg, citing sources familiar with the matter, reported that Tencent has proposed subscribing to up to 20% of DeepSeek's shares in this financing round, but DeepSeek is reluctant to cede a large proportion of control. According to previous reports, DeepSeek is valued at up to 300 billion and plans to raise 50 billion, of which 20 billion will be internal capital increase and 30 billion external fundraising. This valuation has been confirmed by DeepSeek internal employees. (White Whale Lab)
WEEX Exchange has officially launched its TradFi market, offering one-stop direct access to over 90 traditional financial assets—including U.S. equities, precious metals, and commodities. To lower the barrier to cross-market trading, WEEX has extended its “Zero-Fee Gold, Crude Oil, and U.S. Equity Futures” promotion until May 31. During this period, both makers and takers enjoy zero trading fees on these futures contracts, empowering crypto users to engage with global financial markets at zero cost.
according to Gate Ventures' latest weekly report, the global market performance is generally stable, but inflationary pressures and policy divergences are rising simultaneously. The S&P 500 topped the 7,200 mark for the first time. The Fed kept interest rates unchanged but showed major internal divisions. Compounded by volatile oil prices due to supply shocks in the Strait of Hormuz, market expectations of "stagflation" have intensified. Against this backdrop, the crypto market remains in a consolidation pattern, with BTC largely flat and ETH experiencing a slight pullback. ETF fund flows are diverging, and market sentiment remains cautious.At the industry level, the CLARITY Act has clarified the boundaries for stablecoin yields, further promoting a clearer regulatory framework. EURC is seeing rapid growth in Spanish retail payment scenarios, indicating that localized stablecoin applications are coming to market. The Solana ecosystem is advancing its post-quantum signature scheme, Falcon, reflecting the industry's forward-looking layout for long-term security. In terms of investment and financing, 15 deals were completed this week, with a total volume of $167 million, representing a 205% increase week-over-week. The infrastructure track continues to dominate. Among these, Four Pillars completed a Series A funding round to strengthen institutional-grade research and infrastructure capabilities. Belo secured $14 million in a funding round led by Tether, accelerating the expansion of its stablecoin payment network in Latin America. Overall, capital continues to concentrate towards infrastructure and cross-asset platforms, driving the industry's accelerated evolution towards institutionalization and multi-asset integration.
According to The Block, Payward, Kraken’s parent company, has announced the completion of its acquisition of Chicago-based crypto-native exchange Bitnomial, thereby obtaining a full suite of U.S. derivatives licenses from the Commodity Futures Trading Commission (CFTC), including Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO) licenses. Payward stated that it will first launch spot margin trading on Kraken, followed by perpetual contracts and options products, all available to eligible U.S. customers. This acquisition will also provide partners—including banks, brokers, and payment service providers—with a channel to offer U.S. derivatives to their end customers. Bitnomial will operate independently under Payward while retaining its existing licenses and regulatory framework. The transaction’s value is reported to be up to $550 million, comprising cash and stock, implying a valuation for Payward of approximately $20 billion; however, the final terms have not been disclosed.
Odaily Strategy founder Michael Saylor posted on X yesterday stating that the company will suspend its routine weekly Bitcoin purchase plan this week, marking the second time this year it has paused weekly accumulation.To date, Strategy holds a total of 818,334 BTC, representing approximately 3.9% of Bitcoin's total supply. Data from Saylortracker shows that as Bitcoin staged a strong rebound today, breaking through the $80,000 mark, the total market value of BTC held by Strategy has returned to above $65 billion, currently standing at $65.74 billion. The average cost price is $75,537, with an unrealized profit of $3.926 billion.Strategy is expected to announce its Q1 earnings on Tuesday, with the market anticipating a loss per share of $18.98, higher than the loss of $16.38 per share in the same period last year. Its ongoing coin purchases are primarily financed through stock (MSTR) and perpetual preferred stock. Among these, the high-dividend product STRC (annualized yield approximately 11.5%) has raised concerns among some analysts regarding structural risks, though others argue that this model can convert yield demands into long-term Bitcoin exposure. (The Block)
Caixin published an article titled "SpaceX's $1.75 Trillion IPO Approaches: Who Can Buy and Is It Worth It?", which points out: Wall Street has never encountered a listed company with such a massive IPO scale while simultaneously having such a complex relationship with the U.S. government. Nasdaq has previously passed a new "Fast Entry" rule, allowing newly listed companies with a market capitalization ranking among the top 40 of the Nasdaq 100 Index to be quickly included in the Nasdaq 100 within 15 trading days after listing. This rule will officially take effect on May 1, 2026, and is also considered to be designed for the upcoming SpaceX IPO, while potentially paving the way for the listings of OpenAI and Anthropic, which may occur in 2026 or 2027.Assuming SpaceX lists with a $1.75 trillion valuation and a free float ratio of 25% to 30%, the free float market cap on the first day of the IPO would be approximately between $440 billion and $530 billion. Based on the weight calculation of the Nasdaq 100, SpaceX would directly enter the top ten weighted stocks. According to market sources, the S&P 500 is also evaluating some form of "fast inclusion" plan, though details have not yet been disclosed. (Caixin)
Odaily Odaily News According to the latest weekly report from Gate Ventures, there are signs of a staged recovery at the macro level. While major stock indices showed divergent performance, the overall trend was upward, and market risk appetite has somewhat improved. Against this backdrop, the crypto market rebounded in tandem, with BTC rising by 6.6% and ETH by 4.7%. They also recorded net spot ETF inflows of approximately $823.7 million and $155 million respectively, indicating a strengthening return of capital. The total market capitalization increased by 5.2%, while the market cap excluding BTC and ETH grew by 2.6%, suggesting that upward momentum is beginning to spread to a broader range of assets, albeit at a relatively moderate pace.In terms of asset and sector dynamics, structural opportunities continue to emerge. The top 30 assets averaged a 4.2% increase. Meanwhile, advancements at the on-chain and industry levels are persisting, including ongoing developments in digital currency infrastructure and asset tokenization. Regarding investment and financing, 12 transactions were completed last week, with a total disclosed financing amount of approximately $54.89 million, representing a month-over-month increase of about 31%. Capital primarily flowed into DeFi and infrastructure sectors. Notably, JPYC secured $17.62 million in funding to advance the infrastructure development of its yen-backed stablecoin. 3F completed a $4 million seed funding round, with participants including Gate Ventures. Against the backdrop of a marginally improving macro environment, investment and financing activity has picked up, with capital still focusing on long-term application scenarios and foundational capability building amidst volatile conditions.