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According to BBX data, yesterday (May 5) marked the dual arrival of the earnings season for cryptocurrency concept stocks and a wave of industry layoffs. The core dynamics are as follows:Strategy, Inc. (NASDAQ: $MSTR) released its Q1 2026 earnings report after the market on May 5 (official press release): net loss of $12.54 billion (per share -$38.25), primarily driven by an unrealized loss of $14.46 billion on Bitcoin holdings------the price of Bitcoin fell from about $87,000 to about $68,000 during Q1; revenue of $124.3 million (up 11.9% year-on-year), slightly exceeding consensus expectations of $123.2 million. As of May 3, the company held a total of 818,334 BTC, with an average price of $75,537 and a total cost of $61.81 billion; approximately 89,600 BTC were added in Q1 (costing about $5.5 billion), marking the second-largest single-quarter purchase in the company's history. The company's annualized return (BTC Yield) for Q1 continued to improve compared to the beginning of the year, with specific values to be disclosed in the official earnings report. Notably, the company mentioned for the first time in its risk disclosures that it may sell Bitcoin to fulfill its annual dividend obligation of about $1.5 billion, with current reserves covering only about 18 months of dividend expenses; management referred to the STRC preferred stock financing as a "great success," raising approximately $5.58 billion through STRC in Q1.Coinbase Global, Inc. (NASDAQ: $COIN) CEO Brian Armstrong announced on May 5 via the X platform and an official memo that the company will lay off about 700 employees (about 14% of the global workforce), citing the downturn in the cryptocurrency market and AI accelerating the reshaping of the company's operational model. Armstrong stated that AI has enabled the engineering team to complete in days what previously took weeks. The company will compress management levels to a maximum of five layers below the CEO/COO and replace traditional functional departments with "AI-native pods," where each manager must directly oversee at least 15 subordinates while maintaining a personal contributor role; affected employees in the U.S. will receive at least 16 weeks of base salary plus an additional two weeks of severance for each year of service. The company's Q1 2026 earnings report will be released tomorrow (May 7) after the market closes, with current analyst consensus expecting revenue of about $1.5 billion and EPS of approximately $0.23---$0.36.

According to official news, Circle announced that it has submitted a comment letter to the Office of the Comptroller of the Currency (OCC) regarding the implementation rules of the GENIUS Act, outlining 6 core points:The U.S. standard should become the global benchmark: Strengthen international trust and institutional export capability of the U.S. dollar stablecoin;Stablecoins should serve as a unified payment tool: Avoid market fragmentation that affects liquidity and settlement efficiency;Consumer protection is paramount: Ensure that holders can redeem assets at face value at any time;Fair competition regulatory framework: Banks and non-bank issuers should be under the same regulatory boundary;Strengthen systemic risk management: Cover liquidity, credit, operational, and compliance risks;Distinguish between stablecoins and tokenized deposits: The functions of the two are different and should be regulated separately.

According to The Block, North Korea has denied allegations of its involvement in cryptocurrency theft, calling the claims "absurd defamation" and a "political tool." The statement was released by state media, emphasizing that necessary measures will be taken to safeguard national interests.However, data from blockchain analysis firm TRM Labs shows that hacker groups associated with North Korea have stolen approximately $577 million, accounting for about 76% of global cryptocurrency theft losses during the same period. This includes two major attack incidents on KelpDAO (approximately $292 million) and Drift Protocol (approximately $285 million).TRM pointed out that the related attacks are mainly associated with the Lazarus Group and its sub-organizations. Since 2017, the cumulative scale of cryptocurrency theft linked to North Korea has exceeded $6 billion. U.S. and international agencies generally believe that such funds are used to support military and missile programs. Meanwhile, the U.S. Treasury has recently imposed sanctions on related individuals and entities, involving approximately $800 million in illegal fund flows for 2024.

As Bitcoin strongly breaks through the $80,000 mark, the current funding rates on mainstream CEX and DEX show that market short-selling sentiment has significantly weakened, as shown in the attached image.The funding rate is a fee set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, typically applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee; it is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.

According to Jinshi reports, the USD/JPY short-term plummeted, breaking below 156, with an intraday decline of 0.68%.

According to on-chain analyst Yu Jin (@EmberCN), Pantera Capital, the leading investor in Ondo, transferred 83.9 million ONDO (approximately $22.11 million) 5 hours ago, and the market expects this batch of tokens may be sold soon.The address receiving the above tokens has a similar operation record: a year ago, this address received 34.28 million ONDO (approximately $42.52 million) from the multi-signature address of the Ondo project party, which was then transferred in batches to Coinbase Prime.

According to Fox News, the Federal Bureau of Investigation (FBI) has collaborated with law enforcement agencies in Dubai, China, and Thailand to conduct a large-scale multinational joint law enforcement operation, successfully dismantling at least 9 overseas cryptocurrency scam centers, resulting in the arrest of 276 suspects, with the amount involved reaching millions of dollars.In this operation, the U.S. District Court in San Diego has filed federal telecommunications fraud and money laundering charges against 6 suspects, including individuals from Myanmar and Indonesia, whose scam organizations operated under names such as "Sanduo Group" and "Giant Company." Dubai police arrested 275 suspects, while the Royal Thai Police separately apprehended 1 fugitive.The aforementioned scam network employed a "pig butchering" technique, gaining the trust of victims through fabricated friendships or romantic relationships, luring them to transfer funds to fake cryptocurrency investment platforms, and then laundering the money and transferring it to criminal accounts.This operation aligns with the executive order signed by Trump on March 6, 2026, aimed at combating overseas criminal networks that exploit U.S. citizens. The FBI's "Operation Level Up" has notified approximately 9,000 victims, recovering about $562 million in losses for U.S. citizens. The FBI urges victims to report through the Internet Crime Complaint Center (IC3).

According to market news, Nigel Farage, the leader of Reform UK, is facing a parliamentary standards review for receiving an undisclosed grant of approximately £5 million from cryptocurrency billionaire Christopher Harborne. Christopher Harborne resides in Thailand and holds a 12% stake in the stablecoin issuer Tether.Nigel Farage stated that the grant was intended to ensure his personal safety and not for political activities. However, the Conservative Party and the Labour Party accused him of violating the House of Commons rules requiring members to declare earnings received in the 12 months prior to their election, and have requested the parliamentary standards commissioner to investigate. Reform UK responded that the funds are classified as "personal unconditional gifts" that do not need to be declared and are unrelated to elections.The UK government announced in March this year a suspension of political parties receiving cryptocurrency donations to prevent foreign interference. Previously, Christopher Harborne donated £9 million to Reform UK, setting a record for the largest single political donation by a living individual in the UK; BitMEX co-founder Ben Delo also donated £4 million to the party this year.Additionally, Farage himself holds a 6.31% stake in the Bitcoin treasury company Stack BTC.

The probability of "Printr public sale raising over $4 million" on Polymarket has dropped to 63%, falling over 30% within the day, with a trading volume of nearly $3.26 million.Printr is a cross-chain token issuance platform that supports users and AI agents in issuing, trading, and staking tokens in a multi-chain environment. It has currently been deployed on 8 blockchains, including Solana, Base, BNB Chain, and Ethereum, and offers features such as customizable fee structures, cross-chain trading, and staking incentive mechanisms. Data shows that the project has currently raised over $2.46 million, with about 35 hours remaining until the fundraising ends.

According to Jinshi reports, Federal Reserve Chairman Powell stated that the labor market may still be slightly cooling.

On-chain data from Arkham shows that the Vitalik Buterin address (0xAb5...) is intensively selling various Meme tokens, with a transfer frequency reaching several times per minute. The fund flow indicates a continuous inflow of ETH during the same period.The market generally speculates that he is using automated scripts to batch liquidate the airdrop junk tokens in the wallet. The amount per transaction is generally in the range of tens to hundreds of dollars. This type of operation is not the first time. In 2021, Vitalik sold or donated a large number of Meme coins (including SHIB, etc.) that were airdropped to his address, causing significant market fluctuations. It is currently unclear whether this operation is manually triggered or entirely executed by automated programs. Given the market influence of the Vitalik address, holders of related Meme coins need to pay attention to potential selling pressure risks.

According to CryptoQuant analyst Woominkyu, Bitcoin CEX net inflows surged to 9,905 BTC, setting a record for the largest single-day net inflow in the past 30 days, which has also led to Bitcoin's price consistently failing to effectively break through resistance levels.Woominkyu stated that the most concerning signal is the CEX Whale Ratio, which soared to 0.707 on April 27, the highest reading in over a week. This indicates that the top 10 inflow transactions accounted for more than 70% of all deposits—clearly showing that large holders are actively transferring tokens to CEX, likely preparing for distribution.Woominkyu believes that the combination of the surge in inflows dominated by whales and the increase in CEX reserves suggests that smart money is preparing to sell at a high. Unless this portion of inflow is quickly absorbed, the likelihood of retesting the $74,000 to $75,000 support zone in the short term is significantly increasing.

Trump has asked aides to prepare for an extended U.S. Navy blockade of the Strait of Hormuz, causing Brent crude oil prices to surpass $111 per barrel, while Bitcoin remains within a narrow fluctuation range. Trump stated on Tuesday that Iran is in a "state of collapse." Tehran has indicated that it may accept a temporary agreement to reopen the strait if Washington lifts the blockade on Iranian ports.Zaheer Ebtikar, founder of Split Research, stated in a report that Bitcoin's relative calm reflects a change in market structure. He said, "The oversupply has finally been digested, and the panic sellers driven by macro shifts or quantum concerns have long exited, making the selling power in the market significantly weaker than it was a few months ago." Ebtikar added, "Bitcoin's sensitivity to regulatory noise or central bank policies is far lower than people imagine. Its sensitivity is purely a function of broader volatility, and since we are currently in a relatively calm trading range, there is no immediate urgency to exit."Bitget analysts marked $75,000 as a key level that has maintained an upward range since the end of March; if effectively broken down, it could open space for further declines. A rebound from current levels back to $80,000 would maintain the integrity of the rebound structure and pave the way for a retest of the resistance level that has consistently rejected Bitcoin's attempts to rise since February.

Bitcoin mining machine manufacturer Canaan (NASDAQ: CAN) announced on Tuesday that it has received a new batch of custom Bitcoin mining hardware orders from Tether, which will supply high-density computing board modules designed specifically for immersion cooling systems, planned for deployment at Tether's affiliated facilities in South America.This collaboration continues the research and development partnership established in 2025 with ACME Swisstech, which has produced a proof-of-concept platform to enhance mining efficiency and scalability. Tether is simultaneously developing its own control boards and management software, indicating its push for deep integration of mining hardware and software. The agreement includes additional purchase options, allowing Tether flexibility in expanding its infrastructure.The day before this announcement, Tether had just launched an open-source mining framework, further expanding its Bitcoin mining infrastructure layout. Canaan is a publicly listed company in Singapore and currently holds 1,808 BTC, valued at approximately $137 million, marking its highest historical holding level.

According to Gate market data, U.S. stocks closed on Tuesday with the Dow Jones Industrial Average initially down 0.06%, the S&P 500 down 0.49%, and the Nasdaq Composite down 0.9%. Oracle (ORCL.N) fell 4%, Nvidia (NVDA.O) dropped over 1%, and SanDisk (SNDK.O) fell 6%. The Nasdaq Golden Dragon China Index decreased by 0.48%, while NIO Inc. (NIO.N) rose by 2%.

Messari's latest Pulse report provides an in-depth analysis of the early implementation progress of the Bitget AI trading system. The report points out that Bitget has built a four-layer AI product architecture that includes GetAgent (market analysis), GetClaw (autonomous execution), Agent Hub (developer access), and Gracy AI (strategy interaction). Data shows that Gracy AI attracted over 460,000 users just 11 days after its launch, generating more than 2.6 million replies and achieving an exposure of 390 million; GetAgent has surpassed 450,000 registered users, achieving over 100 million exposures during its early invitation testing phase and accumulating more than 25,000 waiting users.Messari emphasizes the infrastructure capabilities of Agent Hub in the report, noting that Bitget is currently the only trading platform that supports a complete calling system for MCP Server, REST/WebSocket API, Skills, and CLI. Currently, Agent Hub has integrated 5 analytical AI Skills and over 15 data tools, covering macro, technical, sentiment, and intelligence analysis comprehensively. The execution layer, GetClaw, builds a risk control defense line through sub-account isolation, sandbox drills, and funding limits, and has now integrated with Telegram, with plans to expand to Discord and app platforms in the future.Bitget CEO Gracy Chen stated that AI is becoming a core component of modern trading infrastructure, and early data indicates that users increasingly expect a complete integration of analysis, execution, and strategy within a single platform. Bitget is committed to lowering the professional trading threshold through AI technology, providing institutional-level trading experiences and decision support for 150 million users worldwide.

According to Jinshi News, Crédit Agricole stated that its month-end pricing model indicates that the dollar will face strong selling pressure. In April, global stock markets generally strengthened, while the dollar weakened overall in the foreign exchange market. The institution believes that month-end portfolio rebalancing cash flows are likely to lead to a comprehensive strong sell-off of the dollar, especially with the sell signal for the dollar against the euro being the strongest, and it is expected that the euro against the dollar will further rise.

According to monitoring by Hyperinsight, the main short position of BTC on-chain (0x004) opened a 20x leveraged BTC short position, totaling 300 BTC, approximately 23 million USD, with an average price of 76,612 USD. It is reported that this address has opened short positions continuously 16 times since the beginning of the month, currently with 9 consecutive profitable positions, with an average holding time of about 21 hours.

According to CryptoQuant analyst Arab Chain, the number of Bitcoin miner deposit transactions has significantly decreased recently, with the current reading at approximately 8,138 transactions, one of the lowest levels in history. This data once exceeded 100,000 transactions by the end of 2025, reflecting a large amount of Bitcoin deposited by miners, which is usually associated with selling intentions or profit-taking. However, since the beginning of 2026, this indicator has shown an overall downward trend, with no clear peak.The current selling pressure from Bitcoin miners has significantly eased, which may provide additional support for the market. The decrease in transaction numbers not only indicates a reduction in deposit amounts but also suggests a lower frequency of transfers to exchanges, reflecting a more conservative behavior among miners.