The Gallic chipmaker, Sequans, has abandoned its Bitcoin treasury strategy with the haste of a socialite fleeing a scandal. Less than a year into this grand experiment, the company has traded its crypto dreams for the prosaic task of debt redemption and a refocus on its core business. Oh, the irony of it all!
On a fateful Thursday afternoon, Hyperliquid’s SPACEX-USDH perpetual contract suffered a cataclysmic flash crash, plunging from its lofty perch of $2,277 to a lowly $1,254-a near-45% collapse-within a single 30-minute window. It then partially recovered to $2,169, but the damage was done. The move liquidated 405 users across 1,393 positions, wiping out $1.51 million in notional value, as the data from Hyperliquid doth reveal.
Key Takeaways:
The market’s latest tantrum? Blame it on Uncle Sam’s macroeconomic data, which showed the PCE Price Index jumping to 3.8% year over year. Core PCE? 3.3%. Basically, the Fed’s interest rate cut dreams are deader than my New Year’s resolution to eat less pizza. Bitcoin took a 6% hit, dropping from $78,000 to $73,000 faster than I can say “blockchain.”
Currently, over 39 million ETH is staked on the Ethereum network, according to data from ValidatorQueue.com and beaconcha.in. This represents about 32.2% of all ETH in circulation, meaning almost one-third of the total supply is locked up for staking and isn’t immediately available for sale.
Companies like Ripple, Circle, Paxos, BitGo, Coinbase, and Fidelity Digital Assets have been asked to submit complete charter documents, internal legal reviews, and confidential application information by June 1, 2026.
Barclays lowered its price target for the stock to $236, a 6.3% decrease, while Jefferies maintains a $250 target. Currently, the stock is approaching a key resistance level within a downward trend that began in January. Trading in options suggests investors are increasingly preparing for a potential price decline.
Axios reported that U.S. and Iranian negotiators hashed out a draft 60-day memorandum of understanding to extend the ceasefire and kick off talks around Iran’s nuclear program, though President Trump has yet to give the deal his stamp of approval. It is the sort of tentative, half-baked promise that everyone in the room has heard a hundred times before, like the local innkeeper swearing he’ll finally pay back the 10 rubles he owes the merchant by the end of the month.
The year started on a chuckle. One can see the currency shoot up to $2.41 in its opening week, like a runaway balloon. But like any hot mess, it popped, slid, and ended up coasting in a sideways lane, almost as if it were trying to find the right key to a rusted music box.
