"HYPE reached a yearly high of $46.93, soaring 17% in 24 hours following news that Coinbase will stake HYPE to activate AQAv2 read more Editor's comment: This seems like a massive win for Hyperliquid but only a slightly exciting PR move for Coinbase. Ryan Watkins said that given stablecoin yield is the largest revenue source in the industry next to trading fees, Hyperliquid is now the first blockchain to internalize both, which is a fundamental transformation of Hyperliquid as a business."
"Kevin Warsh's confirmation as Federal Reserve chairman drew split reactions from lawmakers over inflation, affordability, and central bank independence read more Editor's comment: Tom Lee predicted that the S&P 500 would reach 7,300, and turned out to be right. The second half of the prediction was that markets would experience a drawdown, potentially driven by the entrance of a new Fed Chair, as has happened in the past. We will see if Lee's right and if the Fed's dot plot is still taken seriously through Warsh's tenure."
"STRC Preferred Stock Smashes $1.53B Vol spotlighting BTC funding risk and demand. Michael Saylor's Strategy saw STRC hit $1.53B volume, spotlighting BTC funding risk and demand."
"Multicoin's DeFi Disaster: Firm Spotted Dumping AAVE After Brutal 55% Drawdown Onchain data shows Multicoin Capital is now more than $40 million underwater on a large AAVE position built through Galaxy Digital's read more Editor's comment: To be fair, 55% is somewhat mild in crypto, and the sunk cost fallacy can be deadly. If the bear market deepens, BTC dips, and altcoins get even more wrecked, Multicoin might end up looking fairly smart right now. Also, AAVE is a forsaken governance token."
HYPE rose 17% to $46.93 after Hyperliquid granted Coinbase rights tied to USDH assets, with Coinbase staking HYPE to activate AQAv2. STRC surged as Michael Saylor’s strategy drove preferred stock activity, reaching $1.53B volume and drawing attention to BTC funding risk and demand. Kevin Warsh was confirmed as Federal Reserve chair on May 14, with lawmakers split over inflation, affordability, and central bank independence, keeping crypto policy uncertainty in focus. Multicoin Capital faced a DeFi setback after a 55% AAVE drawdown, with onchain data indicating the firm is more than $40 million underwater on a large AAVE position built through Galaxy Digital.
Read at news.bitcoin.com
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