A whale transfers 10 million USDC to exchange Vance to attend the Bitcoin conference

Reprinted from jinse

05/10/2025·15D

Headlines

▌A whale transferred 10 million USDC to HyperLiquid, shorting BTC, SOL and ETH 5 times

According to Onchain Lens monitoring, a whale deposited 10 million USDC into HyperLiquid and opened short positions on BTC, SOL and ETH with 5 times leverage.

▌U.S. Vice President Vance will deliver a speech at the Bitcoin 2025 conference

According to a statement from Bitcoin Magazine, US Vice President Vance will give a speech at the Bitcoin 2025 conference.

Quotes

As of press time, according to Coingecko data:

BTC's recent transaction price is US$102,997, with an intraday increase of +0.1% ;

ETH's latest transaction price is US$2,338.20, with an intraday increase of +6.4% ;

BNB's recent transaction price is US$672.24, with an intraday increase of +7.6% ;

SOL's latest transaction price is US$171.87, with an intraday increase and decrease of +5.3 % ;

DOGE's latest transaction price is US$0.2054, with an intraday increase and decrease of +5.0 % ;

XPR's recent transaction price is US$2.35, with an intraday increase and decrease of +1.9 % .

policy

▌BlackRock meets with US SEC to discuss issues of encrypted ETF pledge and option trading

BlackRock spokes with the U.S. Securities and Exchange Commission (SEC) Crypto Task Force to discuss “considerations to facilitate pledged ETPs” and explores “parameters of positions and exercise restrictions for encrypted ETF options, including liquidity thresholds.” The memorandum pointed out that the theme of the meeting was “Methods to deal with issues related to cryptoasset regulation.” BlackRock Digital Assets Director Robert Mitchnick was also present. The document also mentioned that BlackRock also discussed the general standards for approving encrypted ETFs. Previously, according to market news, BlackRock planned to attend the US Securities and Exchange Commission's crypto working group roundtable on May 12.

▌BlackRock updates Ethereum ETF application, including "physical redemption" and quantum computing risk disclosure

Analyst James Seyffart said BlackRock has just submitted a revised S-1 file for its Ethereum spot ETF - $ETHA, with the main change being the new statement of "allowing physical creation/redemption after obtaining SEC approval." He and his peer Eric Balchunas both expect the SEC to approve the mechanism at some point this year. In addition, he pointed out that this is the first physical redemption mechanism proposed in the Ethereum ETF application, and the final approval deadline is about October 11, 2025. He also mentioned that BlackRock's Bitcoin ETF $IBIT also submitted revised documents, which included similar physical redemption language as early as February, adding a new description of "quantum computing risk" this time as part of the standard risk disclosure. "These are just basic risk disclosures. They will list any potential issues...it's completely standardized and completely reasonable."

Blockchain application

▌Optimism: Isthmus hard fork has been activated to introduce Ethereum Pectra upgrade to Superchain

On May 10, Optimism posted a message saying that it successfully activated the Isthmus hard fork today, introducing key features in the Ethereum Pectra upgrade to OP Stack and Superchain. This upgrade is only two days after Pectra is launched on the Ethereum main network. Superchain is the first L2 ecosystem to support Pectra upgrades. This upgrade covers Base, Ink, OP Mainnet, Soneium, Unichain and several other OP Stack chains.

▌ConsenSys says the new staking cap on Ethereum will not hinder decentralization, paving the way for institutional participation

Mallesh Pai, research director at ConsenSys, said that the Ethereum Pectra upgrade "does not constitute a threat to decentralization" and that the upgrade only cleans up "a lot of complicated work done by the network behind the scenes." He stressed that "rewards continue to be proportional to the amount of ETH pledged", that is, "large validators will not gain more advantages as a result." This upgrade raises the staking cap of a single validator from 32 ETH to 2048 ETH, raising concerns about decentralization. Pai notes that many technical validators are “not really independent” and that the keys can be integrated after the upgrade, “we have seen this happen” and “ideally, the number of validators will drop to about 30,000.” The new cap "makes easier to integrate institutional pledges and lower risks," said P2P.org's vice president of institutional business.

Cryptocurrency

▌Resolv Foundation: All airdrop tokens will be allocated to users in the first quarter

On May 10, the Resolv Foundation stated on social platforms that the team is actively monitoring the airdrop registration dynamics and ensuring that the registration time is sufficient. The first quarter airdrop tokens, which account for 10% of the total supply, will be allocated to users, and unclaimed tokens will enter the second quarter, and users who are actively involved in RESOLV staking will be rewarded. Teams and investors do not have unlocked tokens when TGE and cannot pledge ununlocked tokens.

▌Coinbase considered following Michael Saylor to buy Bitcoin in large quantities, but eventually gave up due to risks

"In the past 12 years, we have indeed been wondering whether we should put 80% of our balance sheet into cryptocurrencies - especially Bitcoin," Coinbase CEO Brian Armstrong said in a video conversation on X platform. However, the company ultimately believes that "this approach is too risky" and does not adopt the radical Bitcoin purchase strategy promoted by Michael Saylor.

▌TRUMP: Trump will announce the next phase of TRUMP tokens on the day of the dinner

TRUMP official posted on social media that US President Trump will announce the next phase of TRUMP tokens on the dinner on May 22.

▌A giant whale deposited 20.18 million USDT into Bybit in the past two days and extracted 9,023.5 ETH.

According to Onchain Lens monitoring, a giant whale deposited 20.18 million USDT into Bybit in the past two days and withdraws 9,023.5 ETH for $2,237. Currently, the giant whale holds 11,739 ETH and 9.38 million USDT worth $27.57 million.

Important economic trends

Goldman Sachs: U.S. stocks may fall by about 20% due to the "recession risk"

Goldman Sachs said the U.S. stock market is at risk of a decline of nearly 20%, and a recession is a huge risk for the stock market. In Thursday's podcast, Goldman Sachs chief economist Jan Hatzius and chief global equity strategist Peter Oppenheimer appeared extra cautious. Hatzius reiterated the expectation that "the probability of a U.S. recession is 45% in the next 12 months", admitting that the recent data are mixed, including weak soft data such as sentiment surveys and better hard data such as the latest non- agricultural employment data. Alec Phillips, chief political economist at Goldman Sachs, warned that the U.S. president’s comments on a trade deal with the UK suggest that many countries will eventually face higher tariffs than before Trump’s re-election.

▌Federal Musalem: Don 't promise interest rate cuts until the impact of tariffs on inflation becomes obvious

Fed Musalem said interest rate cuts are still possible if inflation rises prove to be short-lived, expectations remain stable and the economy weakens significantly. The impact of tariffs on inflation may be short-lived, but it may also be more durable. Rate cuts should not be promised until the impact of tariffs on inflation becomes apparent. U.S. economic activity slowed down and sentiment declined.

▌The US dollar index fell 0.3% on the 9th

The dollar index, which measures the dollar against major currencies, fell 0.3% on the day and closed at 100.338 at the end of the foreign exchange market.

Golden Encyclopedia

▌What is general artificial intelligence

Unlike narrow-minded artificial intelligence (ANI) (using artificial intelligence to solve a single problem), general artificial intelligence (AGI) refers to artificial intelligence that can understand, learn, and apply knowledge in a way that is indistinguishable from human cognition. AGI is still in the theoretical stage, but the prospect of artificial intelligence being able to replace human input and judgment in an all-round way naturally attracts widespread attention, and researchers, technologists and scholars are working to turn the concept of AGI into reality.

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