VirtualBacon0x

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[VirtualBacon @virtualbacon]

Sunday I said the news was priced in and the statement was what mattered. Thursday I said in a bear market rally you sell into good news, not after it.

Here's what actually happened. CLARITY passed Senate Banking 15-9. Warsh sworn in. Trump-Xi delivered. BTC tapped $82K on the CLARITY vote, rolled over the same day. $1B in spot ETF outflows for the week. Still below the 200DMA.

The 50W SMA around $95K is the line. Every rally below that is counter-trend. No-trade zone between 76 and 85 still holds.

Holding spot. If 76K breaks, the daily uptrend is gone.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍 Market Overview

🔸 Iran oil war is costing Americans $45B more in annual fuel costs per WSJ analysis as WTI held above $101, putting the Fed in a bind between fighting oil-driven inflation and supporting a slowing economy. #Oil

🔸 NVIDIA H200 China chip clearance stalled as Beijing halted Alibaba, Tencent, ByteDance, JD deliveries despite US Commerce export licenses, freezing Trump's 25% revenue cut on a $50B AI chip market. #NVDA

🔸 IREN closed its $3B convertible note offering Wednesday, the largest-ever capital raise by a Bitcoin miner, funding an AI cloud pivot backed by NVIDIA's $3.4B contract and Microsoft's $9.7B capacity deal. #AI

🔸 OpenAI launched DeployCo, a new $4B enterprise deployment unit Thursday, backed by 19 partners including Brookfield and TPG, embedding engineers in Fortune 500 firms to accelerate frontier model integration.

🔸 NIST launched the TRAINS task force Thursday for pre-release national-security review of frontier AI models, a major White House reversal as Trump weighs an FDA-style approval EO for cyber-grade systems. #AI

🔸 Ledger paused its $4B US IPO Wednesday, the Paris hardware-wallet maker eyeing private financing instead as BitGo trades 36% below its January IPO; Goldman, Jefferies, Barclays were advisors. #crypto

🪙 Crypto Updates

🔸 Bhutan's DHI CEO told CoinDesk "I don't recall the last time we sold any BTC," but Arkham data shows the sovereign wallet dropped from 13K BTC (Oct 2024) to 3,100 BTC, with $207M moved to exchanges in 2026. #Bitcoin

🔸 Jump Crypto's Firedancer validator client is live on Solana mainnet for the first time after 3+ years of development, with founding engineer Ritchie Patel confirming lab tests of 1M+ TPS capability. #Solana

🔸 Macro rate-hike repricing from hot CPI 3.8% + PPI +6% + Iran oil triggered $500M in BTC long liquidations as crypto shifted from liquidity-easing to rate-hike pricing; SOL, DOGE, XRP fell ~5%. #Bitcoin

🔸 US spot BTC ETFs bled $1B in weekly net outflows for week ending May 15, the first net-exit after 6 weeks of $3.4B inflows, as rate-hike fears triggered institutional de-risking across risk assets. #BitcoinETF

🔸 CME Group and Nasdaq plan to launch the first market-cap-weighted crypto index futures product June 8 (pending CFTC review), covering BTC, ETH, SOL, XRP, ADA, LINK, and XLM in micro and standard contracts. #CME

🔸 Bitwise launched the first US spot Hyperliquid ETF (NYSE: BHYP) Thursday with in-house HYPE staking, beating Grayscale and 21Shares to market with a 0.34% fee waived for the first $500M in assets. #HYPE

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 NVIDIA reports Q1 FY27 earnings Wednesday May 20 after close. Consensus: $78.42B revenue, $1.76 EPS. NVDA closed at $225.32 (-4.42%) Friday, making this the AI rally's first major test. #AI

🔸 US 10Y Treasury yield hit 4.55%, a 12-month high, as bond markets repriced for sticky long-term inflation after Warsh's hawkish Fed-chair confirmation and the Trump-Xi trade summit reset rate expectations. #Fed

🔸 CME FedWatch repriced December 2026 to a coin-toss (~50%) for a rate HIKE, a sharp regime shift from near-zero hike odds weeks ago, as inflation data forces markets to price Warsh's hawkish stance into the curve.

🔸 xAI launched Grok Build, its first coding agent CLI to rival Anthropic's Claude Code. Early beta limited to $300/month SuperGrok Heavy subscribers after Musk admitted xAI had fallen behind on coding. #xAI

🔸 OpenAI rolled out Codex preview in the ChatGPT mobile app across all plans on iOS and Android, letting developers track and act on long-running AI coding tasks from their phones. #OpenAI

🔸 Cerebras Systems (CBRS) closed Thursday's Nasdaq debut up 68% at $311.07, raising $5.55B in the year's biggest IPO and the largest US tech listing since Uber 2019. The AI chipmaker was oversubscribed 20-to-1.

🪙Crypto Updates:

🔸 T. Rowe Price ($1.77T AUM) filed its 4th amended S-1 with the SEC on May 15 for an actively managed crypto ETF covering 15 assets: BTC, ETH, SOL, XRP, ADA, AVAX, LINK, DOGE and more. #crypto

🔸 Strategy agreed to repurchase ~$1.5B principal of its 0% 2029 convertible notes for ~$1.38B cash via BTC sales or ATM equity, with settlement May 19, reducing its BTC-backed debt load.

🔸 Kraken parent Payward cut 150 staff (~5% of 3,000) while raising fresh capital at a $20B valuation; co-CEO Arjun Sethi says the exchange is "80% ready" to go public via IPO. #Kraken

🔸 Tether's T3 Financial Crime Unit, with TRON and TRM Labs, has frozen $450M+ in illicit USDT across 23 jurisdictions since its Sep 2024 launch, including North Korea and terrorist financing cases.

🔸 CME and ICE urged the CFTC to scrutinize Hyperliquid after its anonymous oil perp trading topped $700M daily in April; HYPE fell ~6% to $43.81 on the Bloomberg report. #crypto

🔸 Tokenized US Treasuries hit a $15.35B all-time high on May 13, led by Circle USYC ($2.9B) and BlackRock BUIDL ($2.58B), as rate-hike fears drove institutions to on-chain yield instruments.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍 Market Overview

🔸 Kevin Warsh begins his first day as the 17th Fed Chair with the 10Y Treasury yield at 4.54%, its highest since July 2025, as markets price out 2026 rate cuts. #Fed

🔸 Nvidia closed at $235.74 (+4.39%), hitting a new 52-week high after the Commerce Dept approved H200 chip exports to Alibaba, Tencent, ByteDance, and other major Chinese firms. #AI

🔸 Cerebras (CBRS) closed +68% on its Nasdaq debut at $311, raising $5.55B in the year's largest U.S. IPO as Wall Street bet hard on AI chip infrastructure.

🔸 Anthropic agreed a $30B funding deal at a $900B valuation per the Financial Times, one of the largest private-company marks globally as AI investment accelerates.

🔸 Oil futures rose more than $2 a barrel Friday after Trump announced China agreed to buy U.S. crude at the Beijing summit, lifting energy stocks across the week.

🔸 The Dow closed +0.75% to 50,063 Thursday, retaking 50,000 for the first time since the Iran war broke out earlier this year, as the S&P 500 (7,501) and Nasdaq (26,635) printed fresh record highs on AI optimism.

🪙 Crypto Updates

🔸 BTC is trading near $80K, stuck below its 200-day moving average at about $82K, as the 10Y yield at a 12-month high tightens the macro ceiling for crypto. #Bitcoin

🔸 Terrorism victims of Iran attacks filed a federal court motion to force Tether to transfer $344M in OFAC-frozen USDT tied to Iran's Revolutionary Guard to unpaid judgment holders.

🔸 Senate Banking passed the CLARITY Act 15-9 Thursday, advancing the digital-asset market structure bill to the Senate floor; Warren's 40+ ethics provisions targeting Trump-family crypto were rejected 11-13. #CLARITY

🔸 21Shares launched TKNS, the first actively managed U.S. crypto ETF, on Nasdaq Thursday, expanding beyond passive index products to a 1.05% expense-ratio actively rebalanced digital-asset fund.

🔸 CME Group will launch Nasdaq CME Crypto Index futures June 8, its first market-cap-weighted multi-asset crypto contract covering BTC, ETH, SOL, XRP, ADA, LINK, and XLM in a single regulated instrument. [FWD]

🔸 Coinbase became Hyperliquid's official USDC treasury deployer Thursday, replacing the chain's native USDH stablecoin, as Circle deepened its role and staked another 500K HYPE on the integration.

[VirtualBacon @virtualbacon]

Genuine question for the timeline.

ETH ETFs had their first negative outflow week since April (-$82M). Same week, BTC ETFs pulled +$153M, fifth straight positive week.

But that same week, Bitmine quietly bought $238M of ETH. Now holds 4.29% of supply.

Who do you trust more, the ETF flows or the corporate buyer?

[VirtualBacon @virtualbacon]

CLARITY Act cleared Senate Banking 15-9. Two Democrats crossed (Gallego, Alsobrooks), both said floor vote isn't guaranteed.

Polymarket at 69% for full passage in 2026. Republicans hold 53 floor seats and need 7+ Democrats. Today produced 2 conditional yeses.

The math is still hard.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍 Market Overview:

🔸 Senate confirmed Kevin Warsh as Fed Chair 54-45, the most partisan Fed confirmation ever, with #Fed regime change taking effect as Powell exits Friday ahead of Warsh's first FOMC on June 16-17.

🔸 Trump landed in Beijing with a US CEO delegation including NVIDIA's Jensen Huang for Day 1 with Xi, who warned Taiwan mishandling could lead to "collision or clashes" as the yuan hit a 3-year high vs. the dollar.

🔸 Cerebras Systems (CBRS) priced its #AI chip IPO at $185/share, above its raised $150-160 range, raising $5.55B with greenshoe in the largest tech IPO of 2026, as the stock began trading on Nasdaq today.

🔸 Alphabet issued yen-denominated bonds across 8 tranches (up to 40-year maturities) to fund its $180-190B 2026 #AI capex budget, up 90% YoY, part of the Big Five's $800B combined AI spend this year.

🔸 Micron (MU) hit a record high of $803, up 89% in one month, after BofA raised its price target to $950 on AI memory demand, with MU's HBM4 now shipping to NVIDIA for next-gen GPU builds. #AI

🔸 Cisco (CSCO) jumped 14% AH on Q3 FY26 beat, raising FY26 revenue guidance to ~$63B and cutting ~4,000 jobs to fund AI, with hyperscaler AI orders hitting $5.3B YTD vs. prior $5B full-year guidance. #AI

🪙 Crypto Updates:

🔸 Senate Banking Committee marks up the #CLARITYAct today at 10:30 ET: 100+ amendments filed, Warren's 40+ ethics provisions target Trump family crypto, banking lobby opposes, July 4 White House deadline.

🔸 U.S. Bitcoin spot ETFs saw $635M in net outflows on Wednesday, the largest single-day outflow since January 29, led by BlackRock IBIT at $285M, as the 5-day total hit $1.26B and BTC slipped below $80K.

🔸 Moody's assigned its AAA-mf rating, the highest money market fund grade, to BlackRock's BUIDL and Fidelity's FILQ tokenized funds on Ethereum, the first Moody's top rating on tokenized #Ethereum MMFs.

🔸 Metaplanet, Japan's largest corporate #Bitcoin treasury, posted Q1 revenue +251% YoY to ¥3.08B on 40,177 BTC, now the 3rd-largest corporate BTC holder globally (87% of Japan's listed-company BTC) behind Strategy.

🔸 The CFTC issued Letter No. 26-14 exempting Kalshi and Polymarket from swap data reporting on fully collateralized binary contracts, giving prediction markets their first formal federal regulatory legitimization.

🔸 Solana processed 10.1B transactions in Q1 2026, a 50% jump from Q4 2025 and the first quarter ever above the 10B threshold for #SOL; Ethereum logged ~200M in the same window per Artemis on-chain data.

[U.S. Senate Banking Committee GOP @BankingGOP]

🚨 WATCH: Chairman @SenatorTimScott leads the Senate Banking Committee in a historic markup of the CLARITY Act, legislation to establish clear rules of the road for digital assets. https://t.co/wlHj2jcAEF

[Eleanor Terrett @EleanorTerrett]

🚨GM! Big day for crypto on Capitol Hill. You can watch the markup live on @BankingGOP X account starting at 10:30 AM EST.

A small update since last night: The 5 pro-crypto Banking Committee Dems gathered this morning to figure out final direction on how to vote in today’s markup after negotiations with GOP colleagues fell through last night, according to three sources.

However, hearing it’s likely going to be a collective vote against, driven largely by disagreements over the BRCA after @CortezMasto pushed for changes following support from law enforcement groups this week for her amendments.

After everything we heard about ethics this week, it no longer appears to be the central sticking point. Instead, the focus seems to have shifted to whether Democrats believe the Grassley-Lummis backed BRCA compromise goes far enough to address law enforcement concerns.

As always, nothing is final until it happens, so we’ll see what the next few hours bring.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 Senate floor votes TODAY on Kevin Warsh as 17th Fed Chair, with Powell exiting Friday. Tuesday's 51-45 Board vote saw Fetterman the lone Dem crossing; Warsh's first FOMC is June 16-17. #FedChair

🔸 Trump-Xi Beijing summit opens TOMORROW May 14, first US presidential visit since 2017. AI chip + rare earth controls and a Board of Trade mechanism top the agenda; July tariff truce expiry looms. #TrumpXi

🔸 Cerebras Systems prices its AI chip IPO tonight at $150-$160/share, targeting up to $4.8B at 20x+ oversubscription. Largest tech IPO of 2026; Nasdaq CBRS debuts tomorrow. #AI

🔸 Anthropic and OpenAI warned buyers of unauthorized SPV shares as Anthropic ARR hit $30B (up 233% from $9B at end-2025), with Amazon committed to invest up to $25B in the lab.

🔸 eBay rejected GameStop's $56B all-stock takeover bid, putting GME's $1.5B Bitcoin treasury squarely back in focus for the meme-equity crowd. #GME

🔸 April PPI +1.4% MoM vs 0.5% Dow Jones consensus, 6.0% YoY headline; services +1.2% and goods +2.0% signal persistent wholesale inflation; Fed 2026 cut path looks closed. #PPI

🪙Crypto Updates:

🔸 CLARITY Act faces 100+ amendments before Thursday's Senate Banking markup. Warren filed 40+ (incl. a Fed-master-account ban); 8,000 ABA letters oppose the yield carve-out. 7 Dems needed. #CLARITY

🔸 Aptos proposed a native encrypted mempool, the first L1 to hide transaction intent from validators and bots until block ordering finalizes, a structural MEV / frontrunning fix pending governance vote. #APT

🔸 Charles Schwab began the US rollout of spot crypto trading for retail customers, opening BTC + ETH access to its $12T brokerage base through Schwab Crypto with Paxos custody.

🔸 The Ethereum Foundation unveiled a new Clear Signing standard to end blind-signing approvals, the same attack class that drained Bybit's $1.5B last year (largest crypto hack on record). #ETH

🔸 CertiK report: North Korea-linked hackers stole $2.06B of $3.4B in 2025 crypto losses (60%), funding nuclear and missile programs across 79 incidents. Industrialized state-actor scale.

🔸 JPMorgan filed to launch its first tokenized money market fund on Ethereum, joining BlackRock's $6.9B BUIDL on the same chain and extending the bank's Kinexys tokenization rail.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 April US #CPI rose to 3.8% YoY, above the 3.7% consensus and the hottest print since May 2023. Core CPI accelerated to 2.8% from 2.6%. The Iran oil shock drove the print; June Fed-cut odds are pricing tighter.

🔸 Senate voted 49-44 to invoke cloture on Kevin Warsh's Fed nomination Monday; Fetterman and Coons crossed. Board + Chair confirmation votes are scheduled today 11:30 AM ET, ahead of Powell's term ending Friday.

🔸 Jensen Huang was not invited on Trump's Beijing delegation this week. White House focused on agriculture and Boeing orders. Nvidia views China as a $50B AI chip opportunity, but export controls remain in place. #AI

🔸 Ilya Sutskever testified Monday his OpenAI stake is worth ~$7B and that he spent about a year gathering evidence of Altman dishonesty for the board before the Nov 2023 ouster. Musk is seeking $150B in damages.

🔸 OpenAI capped revenue-sharing payments to Microsoft at $38B, down from a potential $135B through 2030, per The Information. The revised deal is meant to make OpenAI's pitch more attractive ahead of a possible IPO.

🔸 Michael Burry warned the Nasdaq 100 is in "parabolic" territory and pegs real P/E at 43x vs the 30x Wall Street touts. The "Big Short" investor called it "the scene of the bloody car crash, minutes before it happens."

🪙Crypto Updates:

🔸 Ripple Prime closed a $200M debt facility with Neuberger Specialty Finance, Neuberger Berman's asset-based lending arm, to expand institutional margin lending across equities, FX, and digital assets. #XRP

🔸 Strategy bought 535 BTC for $43M last week at an average price of $80,340, per its SEC 8-K filed May 11. Total holdings now stand at 576,230 BTC with an average cost basis of $42,415 per coin.

🔸 Senate Banking released the CLARITY Act draft text past midnight. Section 105 would permanently exempt Bitcoin and Ethereum from SEC securities law. Committee markup is scheduled Thursday May 14 at 10:30 AM ET.

🔸 Ray Dalio said Bitcoin won't get central bank reserve adoption because of its full transparency. The Bridgewater founder flagged BTC's correlation with tech stocks and small market cap vs gold as further disadvantages.

🔸 MARA sold $1.5B of its Bitcoin in Q1 as the miner pivots to AI infrastructure. The shift positions MARA around power, data centers, and AI demand even as it called Bitcoin its operational foundation.

🔸 Solana's Alpenglow upgrade, the biggest consensus overhaul in SOL's history, went live for testing this week. The upgrade replaces TowerBFT to push block finality below the current 12.8 second window.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 Trump rejected Iran’s peace proposal as "TOTALLY UNACCEPTABLE." Brent crude spiked +4.11% to $105.45 at Asian Monday open; WTI +4.59% to ~$99.80. Indian rupee -0.75% to 95.19. Hormuz "largely closed." #Iran

🔸 Cerebras raised its IPO price range to $150-160/share, 20x oversubscribed on 30M shares. At the top of range, the $4.8B AI chipmaker IPO would be the largest in years. Pricing Tuesday May 13. #AI

🔸 HSBC raised its 2026 S&P 500 year-end target to ~7,650 (+3.4% from Friday’s 7,398.93 close); 2026 EPS growth ~20% / $325; Mag7 keeps driving gains. Q1 S&P 500 earnings tracking +29% YoY.

🔸 Big Tech debt-funds the AI arms race: Alphabet weighing its first-ever yen bond; Amazon prepping Swiss franc bonds. Big Tech AI capex jumps to ~$700B in 2026 from $410B in 2025.

🔸 PIMCO warns the Iran war could force the Fed to raise rates, a contra-consensus call. The world’s largest bond fund says oil-driven inflation could flip the rate path from cuts to hikes.

🔸 Musk vs. OpenAI trial opened in Oakland federal court Monday. A blunt judge and star legal teams are weighing whether OpenAI’s nonprofit-to-for-profit conversion can proceed. WSJ profiled the key players.

🪙Crypto Updates:

🔸 South Korea passed new crypto FX rules: cross-border transfers under regulatory oversight. National Assembly confirmed crypto gains taxed from January 1, 2027. Top-5 global retail crypto market. #crypto

🔸 SUI surged ~50% over the trailing week after Nasdaq-listed SUI Group Holdings (SUIG) staked 108.7M SUI tokens (2.7% of supply). Mysten Labs announced zero-fee stablecoin transfers at Consensus 2026 Miami.

🔸 Circle closed a $222M institutional presale for its Arc blockchain at a $3B FDV. a16z led with $75M; BlackRock, Apollo, ICE (NYSE parent), Standard Chartered, and ARK Invest joined the round. #BlackRock

🔸 BlackRock filed for two tokenized money market funds on Ethereum: a stablecoin reserve vehicle and on-chain shares of its $6.9B BSTBL fund. Builds on $2.9B BUIDL, 40% of the tokenized Treasury market.

🔸 Canton Network’s Digital Asset Holdings is raising ~$300M at a $2B valuation, led by a16z crypto, Bloomberg reported. Canton runs settlement rails for major financial institutions; round expected to close in weeks.

🔸 Polymarket’s "Trump visits China by May 31" YES odds surged to ~95% (from 76% a week ago) after Politico confirmed the May 14-15 Beijing summit. Daily volume $852K USDC.

[VirtualBacon @virtualbacon]

Big week. CPI Tuesday, Trump-Xi summit Thu-Fri, Warsh becomes Fed Chair Friday.

Warsh is the one I'm actually watching. Powell's last day and a brand new tone takes over the FOMC. The transition itself is priced in. The statement is what matters.

[VirtualBacon @virtualbacon]

80K isn't the breakout, it's the middle of the range.

85K is where I expect rejection on first touch. Even if we push through to 90K, that's still 6% short of 96K which is the 50W SMA and the actual bull confirmation.

Downside is 76K, the higher low. Lose it and the daily uptrend breaks. Back below 70K, probably mid-60s.

Between 76 and 85 is a no-trade zone for me. Holding spot.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍 Market Overview:

🔸 US forces disabled two Iranian oil tankers May 8 after Iran fired on US Navy ships; Iran launched 2 ballistic missiles and 3 drones at the UAE, injuring 3 people. Brent crude rebounded 1.4% to $101/bbl. #Iran

🔸 The S&P 500 extended its winning streak to 6 consecutive weeks, powered by a semiconductor melt-up: Intel +239% YTD, Sandisk +558%, adding $3.8T in semis market cap over 6 weeks.

🔸 Anthropic is weighing a $50B funding round at a ~$900B pre-money valuation, per the FT, as revenue hit ~$45B annualized (5x from $9B end-2024), which would put it ahead of OpenAI's $852B post-money mark. #AI

🔸 Trump Media (DJT) reported a $405.9M Q1 net loss, up from $31.7M a year ago, on $244M in unrealized Bitcoin markdowns plus $108M in equity losses. Holds 9,542 BTC at $1.13B cost basis vs ~$770M fair value.

🔸 AWS Northern Virginia data center overheated Friday, knocking out trading on Coinbase and disrupting FanDuel; AWS confirmed power loss in the use1-az4 zone. Second AWS major outage in 6 months.

🔸 Bloomberg: S&P 500 Q1 earnings grew 27% YoY, more than double the 12% consensus, with all 11 sectors expanding. Mag 7 profits surged 57% vs 17% for the rest of the index. Backstops record-streak rally.

🪙 Crypto Updates:

🔸 Bitcoin miner TeraWulf posted a $427M Q1 net loss (vs $61.4M a year ago) as it pivots to AI: HPC lease revenue jumped 117% q/q to $21M (60% of $34M total), while mining revenue fell 50% to $13M. #Bitcoin

🔸 Judge Margaret Garnett cleared Aave May 9 to move $71M in frozen ETH from the Lazarus Group rsETH exploit, modifying a restraining order while preserving the terrorism creditors' $877M North Korea claim.

🔸 Ondo Finance filed an SEC no-action letter for its Ondo Global Markets product, seeking clearance to record tokenized-stock entitlements on Ethereum mainnet via BitGo custody, and joined a DTCC tokenization consortium.

🔸 LayerZero issued a public apology for the Kelp DAO rsETH exploit fallout; Kelp DAO announced it would become the first major protocol to fully depart the LayerZero messaging stack.

🔸 Coinbase and AWS launched x402, an open HTTP 402 protocol for autonomous AI-agent USDC payment rails. Coinbase reports the protocol has cleared 169M+ payments across 590K buyers and 100K sellers.

🔸 Aptos Foundation and Aptos Labs committed $50M to AI-agent infrastructure, funding sub-second-finality products like Decibel (onchain perps DEX) and Shelby (decentralized storage for AI workloads).

[VirtualBacon @virtualbacon]

the crowd is getting venice pilled

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 Trump-Xi summit set May 14-15 in Beijing, first leaders' meeting since late 2025. Bessent briefed Vice Premier He Lifeng on Apr 30. China April exports +14.1% YoY, $84.8B trade surplus. #tariffs

🔸 S&P 500 call options notional hit a record $2.6T on May 7, with calls ~60% of activity and Goldman warning of "semi-irrational chasing" on a 1999-era semi-RSI. Gamma squeeze risk if positioning unwinds.

🔸 Bloomberg: US suspects Bangkok-based OBON Corp helped smuggle billions in Super Micro servers with NVIDIA chips into China, Alibaba among end-customers. Builds on March DOJ case alleging $2.5B routed via Taiwan.

🔸 TSMC April revenue NT$410.73B ($13.1B), +17.5% YoY, highest April on record. Jan-Apr cumulative +29.9% YoY. AI infrastructure demand persistent despite softer smartphone end-markets.

🔸 WSJ: Apple and Intel reached a preliminary deal for Intel to make chips for some Apple devices, talks that ran more than a year. Intel +15%, Apple +1.7% on May 8 close; US gov is Intel's largest shareholder.

🔸 Cloudflare (NET) closed -23.5% Friday at $196.56 despite a Q1 beat ($639.8M revenue, +34% YoY), after CEO Matthew Prince announced 20% workforce layoffs (~1,100 jobs) for an "agentic AI-first" pivot. #AI

🪙Crypto Updates:

🔸 Senate Banking Committee scheduled markup of the CLARITY Act for Thursday May 14, the committee-level vote advancing crypto market-structure legislation to the full Senate floor. #CLARITY #crypto

🔸 Coinbase (COIN) rebounded ~10% from post-Q1-miss lows as altcoins ICP, NEAR, SUI, UNI, and LINK led the strongest 48h broad-altcoin move in three weeks. BTC held above $80K through the session. #crypto

🔸 Manhattan federal judge Margaret Garnett cleared Aave to move ~$71M in ETH that had been frozen after attribution to North Korea's Lazarus Group, the same actor behind April's $292M Kelp rsETH exploit.

🔸 Tether sued Brazil's Titan Holding (Daniel Vorcaro / Master Group) in São Paulo for a defaulted $300M loan issued March 2025 by Tether Investments. Tether is requesting asset freezes; loan was outside USDT reserves.

🔸 SEC Chair Atkins, at Consensus Miami, signaled new rules for onchain markets: a vault-custody category, alt-ATS paths for onchain trading systems, and bespoke oversight for blockchain settlement.

🔸 Solv Protocol migrated $700M+ in wrapped-Bitcoin assets from LayerZero to Chainlink CCIP, citing security concerns following the April Kelp DAO exploit blamed on a 1-of-1 LayerZero verifier setup. #Bitcoin

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 April US jobs beat: +115K vs +62K est, with March revised up to +185K. Unemployment held 4.3%, wages eased to 0.2% MoM. Labor still hiring through tariffs, which trims June Fed-cut odds. #NFP

🔸 The DOJ and CFTC are reviewing $2.6B in oil futures trades placed minutes before Trump's Iran announcements: $500M on Mar 23, $960M on Apr 7, $760M on Apr 17, per ABC News.

🔸 CoreWeave Q1 revenue $2.08B, up 112% YoY. Backlog hit $99.4B, nearly 50% higher q/q. Net loss $740M and 2026 capex guide $31-35B sent CRWV down 5% AH. FY guide reaffirmed at $12-13B. #AI

🔸 Trump set a July 4 deadline for the EU to comply with the trade deal or face 25% tariffs on cars and trucks, up from 15%. Autos are 8% of US-EU trade. Came after a call with EC President von der Leyen.

🔸 ARM Q4 set a record $1.49B revenue but the stock fell 5% on AI chip supply constraints. CEO Rene Haas said only $1B of $2B+ AI chip demand has secured supply. Smartphone chip sales also turning negative.

🔸 Apple has pulled high-RAM Mac mini and Mac Studio configs as the memory crunch continues. Higher-tier options gone, shipping delays elsewhere stretching into months. AI servers are eating global DRAM.

🪙Crypto Updates:

🔸 The White House targets July 4 for Congress to pass the Digital Asset Market Clarity Act, said Patrick Witt at Consensus Miami. Senate Banking markup this month, full Senate June, House before Independence Day.

🔸 #Coinbase Q1 missed: revenue $1.41B (vs $1.49B est), EPS -$1.49. But market share hit a record 8.6%, derivatives volume +169% YoY, and prediction markets ARR crossed $100M in under 2 months. COIN -5% AH.

🔸 Ondo, Ripple, JPMorgan, and Mastercard settled the first cross-border tokenized US Treasury redemption on the XRP Ledger in under 5 seconds, May 6. Fiat delivered to a Singapore bank outside banking hours. #crypto

🔸 Germany's Finance Minister Lars Klingbeil moved to scrap the 1-year tax-free crypto holding rule, replacing it with a flat 25% capital gains tax from 2027. Targets €2B+ in fresh revenue. Fourth attempt in 18 months.

🔸 Nasdaq President Tal Cohen said the SEC's more proactive stance lets market operators experiment with blockchain infrastructure and tokenized assets. Nasdaq is investing in always-on market infrastructure.

🔸 Bitcoin treasury firms outlined a $3 trillion BTC-backed digital-credit market at Consensus Miami. About $10B has already been issued, framed as the next institutional unlock after spot BTC ETFs.

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 Anthropic signed with SpaceX for the full Colossus 1 data center in Memphis, 220K NVIDIA GPUs and 300MW online within the month. Lifts Claude 5-hour rate caps. Also targeting orbital AI compute.

🔸 Apple agreed to a $250M class-action settlement Tuesday over Apple Intelligence Siri features it marketed but never shipped. ~37M iPhone 15/16 owners eligible for $25-$95 per device.

🔸 CoreWeave (CRWV) reports Q1 after close, the first earnings since its rally turned the AI infrastructure pure-play into a "prove-it" moment. Bloomberg flags compute-demand and capex-coverage as the keys to watch.

🔸 Coinbase reports Q1 earnings tonight after close. Q4 revenue was $2.27B with $1.29B in transaction revenue; Street is watching ETH-staking, USDC interest income, and 2026 user growth guidance.

🔸 Paul Tudor Jones told CNBC there is "no chance" Warsh gets the Fed to cut rates, even if confirmed. The Tudor founder also said the AI bull market has "another year or two to run" before excess.

🔸 EU is weighing restrictions on US cloud platforms for processing sensitive government data, per CNBC sources. Targets AWS, Azure, and GCP, citing sovereignty concerns under the Trump administration.

🪙Crypto Updates:

🔸 Morgan Stanley launched a crypto trading pilot on E*Trade at just 50 bps per trade, undercutting Coinbase, Robinhood, and Schwab. All 8.6M E*Trade clients get access this year, BTC, ETH, SOL at launch.

🔸 Kraken parent Payward agreed to buy Hong Kong-based stablecoin payments firm Reap for $600M cash and stock, per Bloomberg. The deal values Payward at $20B and pushes Kraken deeper into Asia and stablecoin rails.

🔸 Hut 8 stock hit an all-time high near $107, up 33% intraday, after signing a $9.8B AI data center lease that brings total contracted AI capacity to 597MW and aggregate base-term value to $16.8B.

🔸 BNY Mellon, the world's largest custodian bank with over $52T in assets, is expanding crypto custody in Abu Dhabi via partners Finstreet and ADI Foundation, starting with BTC and ETH then stablecoins.

🔸 White House crypto adviser Patrick Witt told Consensus Miami the Strategic Bitcoin Reserve announcement is coming "in the next few weeks," covering operational structure and legal framework ahead of any bill.

🔸 CME Group will launch cash-settled Bitcoin volatility futures (ticker BVI) on June 1, settling to its 30-day implied vol index. Lets traders hedge BTC vol without taking a directional price bet.

#Bitcoin #Crypto #Markets

[VirtualBacon @virtualbacon]

☕️ GM! Here are the most important market events over the last 24 hours:

🌍Market Overview:

🔸 US-Iran framework deal close. Brent plunged 9.2% to $99.79, first close below $100 since April 22. Pentagon ended Operation Epic Fury, Trump paused Project Freedom naval escort.

🔸 AMD Q1 revenue $10.3B, up 38% YoY (beat $9.85B est). Data center segment $5.8B, up 57% on AI demand. Q2 guide $11.2B, +46% YoY. Stock surged 20% intraday, best post-earnings move in seven years.

🔸 Super Micro Q3 revenue $10.2B, up 123% YoY. AI GPU platforms above 80% of revenue. Q4 guide $11-12.5B, full-year target $40B. Stock jumped 19% after-hours despite ongoing legal overhang.

🔸 Strategy Q1 net loss $12.54B on $14.46B unrealized BTC mark-down after FASB fair-value adoption. Holdings reached 818,334 BTC ($66.4B NAV) at average cost $75,532. Bought 89,599 BTC in Q1.

🔸 ADP April private payrolls rose 109K, a step up from March's 62K. Annual pay growth slowed to 4.4% from 4.5%. Sets the tone for BLS nonfarm payrolls Friday.

🔸 OpenAI considered splitting before its IPO, per WSJ. Plan would spin off robotics and consumer hardware for a leaner ChatGPT pitch. Lawyers killed it because spinoffs would still appear on the books.

🪙Crypto Updates:

🔸 Coinbase cut 14% of staff (~700 jobs), CEO Brian Armstrong's fourth round since 2022. Crypto cycle volatility plus AI productivity gains drove the call. Joins 2026 layoff wave with Algorand, Gemini, OP Labs.

🔸 Kelp DAO publicly accused LayerZero personnel of approving the 1-of-1 verifier setup blamed for the April $292M rsETH hack tied to Lazarus Group. Kelp is migrating to Chainlink CCIP.

🔸 Saylor told Strategy's Q1 call the company will probably sell some Bitcoin to fund dividends if needed, breaking from its long-standing "never sell" stance. MSTR -4% AH, BTC dipped below $81K on the comment.

🔸 Canada's first regulated CAD stablecoin CADD launched via Tetra Trust with National Bank, Shopify, and Wealthsimple as backers. Visa and Wealthsimple separately started Canada's first USDC settlement pilot.

🔸 Drift unveiled a recovery plan for the $295M April 1 Lazarus-linked exploit. Pool seeded with Tether's $127.5M, $20M from partners, plus quarterly revenue. Recovery tokens redeem $1 each of verified loss.

🔸 Zcash spiked 40% to $600, briefly flipping Monero. Multicoin disclosed a significant ZEC position, pitching privacy as defense against rising state-level wealth visibility. Shorts took $62M in liquidations.

#Bitcoin #Crypto #Markets