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According to Coinglass data, if ETH falls below $2,195, the cumulative long liquidation intensity on mainstream CEX will reach $936 million. Conversely, if ETH breaks above $2,416, the cumulative short liquidation intensity on mainstream CEX will reach $620 million.

According to Coinglass data, if BTC falls below $74,650, the cumulative long liquidation intensity on mainstream CEX will reach $2.284 billion. Conversely, if BTC breaks above $81,948, the cumulative short liquidation intensity on mainstream CEX will reach $1.248 billion.

Robert Hackett, head of special projects at a16z Crypto, pointed out that the term "stablecoin" is gradually losing its relevance. Stablecoins were originally born during a period of high volatility in the crypto market, hence the emphasis on the characteristic of "stability."However, with technological evolution, stability has become a foundational aspect evolving into global financial infrastructure. The focus of the crypto industry has shifted from "is it stable" to "what else can be built," with stability becoming a basic threshold rather than the innovation itself.Therefore, the term "stablecoin" seems more like a patch for an old problem rather than a definition of a new financial system. In the future, the concept of stablecoins may ultimately fade into broader expressions like "digital dollar" or "on-chain assets," or even fully integrate into the underlying financial system, much like how "electric light" replaced the concept of "electric illumination."

The U.S. Securities and Exchange Commission (SEC) has passed a plan allowing publicly traded companies to reduce the frequency of financial report disclosures from quarterly to semi-annually, which has further moved closer to implementation after passing White House review. According to information from the U.S. government website, this review was completed earlier this week, allowing the SEC to officially announce the plan and seek public opinion.After receiving feedback, the commissioners will need to vote on the final version for it to take effect. Voting typically occurs several months later. Since President Trump called for changing quarterly reports to semi-annual reports last year, the SEC has been advancing this reform of corporate information disclosure requirements. Since 1970, publicly traded companies in the U.S. have been required to disclose financial information quarterly.

According to Onchain Lens monitoring, a wallet associated with the Ethereum Foundation deposited 1,744 ETH into Kraken, worth 4.03 million dollars.

According to Jinshi reports, Fed's Logan stated that the next interest rate adjustment could be a rate cut or a rate hike.

According to Coinglass data, if ETH falls below $2,206, the cumulative long liquidation intensity on mainstream CEX will reach $874 million. Conversely, if ETH breaks above $2,412, the cumulative short liquidation intensity on mainstream CEX will reach $403 million.

According to Coinglass data, if BTC falls below $74,848, the cumulative long liquidation intensity on mainstream CEX will reach $2.14 billion. Conversely, if BTC breaks above $81,976, the cumulative short liquidation intensity on mainstream CEX will reach $816 million.

Curve Finance officially announced that it is introducing a bad debt recovery mechanism based on on-chain market mechanisms, allowing CRV-affected users in certain lending markets with bad debts to choose different recovery strategies: directly selling their claims to exit, continuing to hold and wait for potential recovery, or providing liquidity to earn fees and incentives. The core of this mechanism is to establish a trading pool between crvUSD and the tokens of the affected claims, allowing bad debt claims to be priced in the market and creating liquidity, thereby providing users with an immediate exit channel instead of relying solely on the final liquidation results.It is reported that after the cryptocurrency market crash in October last year, some lending markets under Curve Finance experienced bad debt issues, with various liquidity pools being impacted by severe price fluctuations and liquidity contraction, leading to some deposit users facing withdrawal restrictions and asset losses.Curve stated that the recovery mechanism will not eliminate losses or guarantee recovery, but will gradually reflect risks and recovery expectations through a market-oriented approach. Additionally, if the governance layer distributes rewards through the veCRV incentive mechanism, it will help enhance liquidity depth, improve exit conditions, and strengthen market pricing efficiency.

According to Jinshi reports, the panic index VIX has fallen to its lowest level in more than two months, reporting at 16.72.

According to Gate market data, the Nasdaq 100 index futures have erased earlier losses and are now up.

According to Techfundingnews, SpaceX's early investor 137 Ventures announced that its two new funds have completed fundraising of over $700 million, increasing its assets under management (AUM) to over $15 billion. The new funds will support its pursuit of investment opportunities in areas such as AI agents, robotics, and aerospace propulsion.It is reported that 137 Ventures currently holds more than 1% of SpaceX's shares. As SpaceX is expected to seek an IPO this year, with a valuation potentially exceeding $1 trillion, the value of 137 Ventures' holdings may exceed $10 billion.

According to official news, Tapp Exchange has announced that it will gradually cease operations. The protocol will remain fully available until May 31, 2026, and all user assets are secure and can be withdrawn at any time.Since its launch in June 2025, Tapp has built the first V4 style DEX on Aptos, continuously introducing the ve(3,3) voting mechanism, emission distribution, bribery infrastructure, and governance tools, transferring liquidity decision-making power to veTAPP holders.

Japanese financial giant SBI Holdings has begun negotiations to acquire shares in the cryptocurrency exchange platform Bitbank, aiming to turn it into a consolidated subsidiary. SBI Chairman and President Yoshitaka Kitao stated that the company has submitted a letter of intent for the acquisition and has started discussions with Bitbank regarding capital and business cooperation. The specific timing and structure of the acquisition will be determined after due diligence and internal procedures are completed.Bitbank is one of Japan's major domestic cryptocurrency exchange platforms and has not experienced any hacking incidents since its establishment in 2014, with security as its core selling point. As cryptocurrency assets are gradually incorporated into Japan's Financial Instruments and Exchange Act, SBI believes that integrating Bitbank into the group will enhance its position in the Japanese cryptocurrency market. This move comes as SBI continues to consolidate its cryptocurrency exchange platform SBI VC Trade. Last month, SBI incorporated another exchange platform, Bitpoint Japan, into this department to streamline operations and improve profitability.Earlier this week, Bitbank also launched Japan's first credit card linked to cryptocurrency assets, allowing users to pay bills using assets like Bitcoin based on their exchange holdings, and offering a 0.5% cashback on cryptocurrency asset spending.

According to Coinglass data, if ETH falls below $2,170, the cumulative long liquidation intensity on mainstream CEX will reach $755 million. Conversely, if ETH breaks above $2,386, the cumulative short liquidation intensity on mainstream CEX will reach $529 million.

According to Coinglass data, if BTC falls below $73,456, the cumulative long liquidation intensity on mainstream CEX will reach $1.616 billion. Conversely, if BTC breaks above $80,576, the cumulative short liquidation intensity on mainstream CEX will reach $1.124 billion.

According to the official documentation from Tradexyz, the decentralized trading platform Tradexyz has officially added a Pre-IPO perpetual contract market in its product documentation. This product is a cash-settled perpetual derivative that references the expected public equity of the issuer planning to go public, used for price discovery before the IPO.XYZ emphasizes that the Pre-IPO perpetual contracts are not stocks, IPO allocations, tokenized equity, or securities rights, and holding positions does not confer ownership, voting rights, dividend rights, or any claims against the issuer. After the IPO, the relevant market is expected to transition to standard external pricing perpetual contracts once sufficient external data is available; if the IPO is delayed, fails, or undergoes significant changes, the market will settle according to the established Outside Launch Date, Settlement Period, and TWAP mechanisms.

According to market news, options delivery data shows: 23,000 BTC options expired, with a Put Call Ratio of 1.13, a maximum pain point of $76,000, and a nominal value of $1.74 billion; 175,000 ETH options expired, with a Put Call Ratio of 0.94, a maximum pain point of $2,325, and a nominal value of $400 million.This week, market fluctuations were small, and market sentiment gradually became calmer. The short-term RV significantly decreased, combined with monthly deliveries releasing nearly a quarter of the position margin, leading to a noticeable decline in the implied volatility of major term options this week. Bitcoin's main term IV fell below 40%, while ETH's main term IV decreased even more, with short-term IV dropping below 50% and medium to long-term falling below 60%. From the main options data, the Skew remained relatively stable, and the market's directional sentiment maintained a slight bearish bias. This week, only 6% of options expired, with about 25% of positions at the end of May and about 30% at the end of June. Block trades were relatively inactive, all of which are signs of consolidation.

According to market news, the Central Bank of Brazil issued Resolution No. 561, prohibiting the use of virtual assets for settlement in regulated eFX international payment and transfer services.The new regulation requires that payments or receipts between eFX service providers and foreign counterparties must be completed through foreign exchange transactions or non-resident Brazilian real accounts. This restriction also applies to eFX service providers that have not yet been approved but are in a transitional period. The rule does not completely ban cryptocurrency transfers in Brazil, but rather excludes virtual assets and stablecoins from regulated eFX channels.

According to market news, the Seoul Administrative Court accepted Bithumb's application for a stay of execution against the Financial Intelligence Unit (FIU) of South Korea on April 30, ruling to suspend the 6-month "partial business suspension" sanction imposed on it until the final judgment of the case.Previously, the FIU accused Bithumb of violating the Specific Financial Information Act, involving approximately 6.65 million violations, including failure to fulfill customer verification obligations and trading with unreported cryptocurrency operators, resulting in a fine of 36.8 billion won. The sanction was originally intended to restrict new users from transferring cryptocurrency assets to external addresses. Due to the court's latest ruling, Bithumb will be able to continue its existing business operations during the litigation period.