And what, you may ask, is this “super app”? Why, it is a chimera, a creature of legend, blending stocks, commodities, foreign exchange, and prediction markets into a single, glorious entity. Hougan, with the zeal of a missionary, declares that the market, in its infinite folly, has committed a “pricing error,” valuing Hyperliquid as a mere flea in the circus of finance, when it is, in truth, the ringmaster!
Zerohash is like, “Yeah, we’re fundraising again, but this time we’re worth even more. Deal with it.” Last time they raised $104 million, and now they’re aiming higher. Morgan Stanley, SoFi, Apollo Global Management-they’re all in the group chat.
On May 16th, market analyst Xaif Crypto shared on X that Citadel has filed a report with the US Securities and Exchange Commission (SEC) showing a significant investment in the XRP ETF. Reports suggest Citadel holds $1.7 million worth of XRP through various companies like Bitwise, Canary, Franklin, and Grayscale.
She’s now focused on approvals recently given by the OCC, particularly those with conditions attached. This comes as traditional banks have already been voicing concerns all year.
Last time these big shots jumped ship in April, XRP took a 7% nosedive. Now, with whales dumping and retail investors selling like it’s a fire sale, that channel’s lower edge is looking as exposed as a naked Count Dracula in sunlight.
The Office of Foreign Assets Control, with all the subtlety of a sledgehammer, has struck Iranian exchange house Amin Exchange and immobilized 19 oil and petrochemical tankers. Secretary Scott Bessent, in a tone that could only be described as mildly exasperated, urged global banks to keep a watchful eye on Tehran’s financial acrobatics.
According to The Block, Deloitte announced this corporate cannibalism on Tuesday, calling it a “talent acquisition-focused merger.” (Translation: “We want your people, not your problems.”) The terms? Hush-hush, of course. But the Blocknative team will now “drive Web3 innovation” within Deloitte’s client ecosystem-because nothing says innovation like shutting down the very tools you built. Meanwhile, Blocknative’s website now sports a banner that’s basically a breakup text: “We’re ceasing operations. It’s not you, it’s us. Well, actually, it’s Deloitte.”
After a large sell-off on Monday that resulted in $814 million in liquidations, the cryptocurrency market found some stability on Tuesday, May 19th. Bitcoin remained around $76,327, virtually unchanged from Monday’s closing price. Overall, the market showed signs of settling down instead of continuing to fall. Trading volume decreased to $85.02 billion, down from the panicked $91.3 billion seen the previous day, and the Fear & Greed Index rose slightly to 39, indicating a level of ‘Fear’.
The ethersphere, like a stale soviet attic, is breathing a quiet and bitter bleakness. Across TradingView dashboards, moving averages moan in the negative, while oscillators sit in indifferent mute.
