The US Dollar Index Futures Decline, WTI Crude Oil Surges 5.54% Intraday, Brent Oil Rises by 3.75%

May 4 — On-chain detective ZachXBT took to social media to declare war on Tokenlon DEX, the built-in exchange of imToken. ZachXBT claimed the bulk of Tokenlon’s trading volume stems from rug pulls, investment scams, and the dark web, adding that imToken co-founder Ben He should spend the rest of his life in prison. He also announced plans to target Tokenlon and imToken in the future. Per ZachXBT, Tokenlon has minimal to no legitimate trading volume outside Southeast Asia, with a large share of its activity tied to illicit fund flows — a situation that has worsened since 2022. He also stated that offshore “whale” Chinese exchanges Butter Network, HiFiSwap, Bridgers/SWFT, and Tokenlon must face severe punishment for their alleged criminal activities.

On May 4, AXIOS reported that a U.S. official said U.S. military rules of engagement in the Middle East have changed—authorizing strikes on vessels crossing the Strait of Hormuz that pose a direct threat, including Iranian Revolutionary Guard fast boats and Iranian missile sites.

May 4 (Yonhap News) — South Korea’s Digital Asset Exchange Association (DAXA), representing 27 registered Virtual Asset Service Providers (VASPs), has filed objections with the Financial Services Commission (FSC) and Financial Intelligence Unit (FIU) over proposed amendments to the Enforcement Decree of the Specific Financial Information Act. The new rules would require domestic VASPs to submit Suspicious Transaction Reports (STRs) for all cross-border virtual asset transfers with overseas VASPs exceeding 10 million Korean won (≈$8,600) — regardless of risk level. DAXA warns this would send annual STR volumes for the country’s top five exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) soaring from roughly 63,000 last year to over 5.4 million, making compliance practically unfeasible. The industry also pushes back against proposed customer information accuracy verification requirements, arguing the draft imposes obligations not clearly defined in law. The backlash comes amid ongo

On May 4th, crypto whale “Sets 10 Big Goals First” (@Jason60704294) shared a trading screenshot on social media, revealing they’d successfully opened a long position using 46.1 BTC at $78,848.05—valued at roughly $3.63 million.

On May 4, artificial intelligence chipmaker Cerebras Systems officially launched its initial public offering (IPO), aiming to raise up to $3.5 billion. Per documents filed with the U.S. Securities and Exchange Commission (SEC), the company plans to offer 28 million shares at a price range of $115 to $125 each, trade under the ticker symbol “CBRS,” and list on the Nasdaq. This marks Cerebras’ second IPO attempt—after withdrawing its listing application in October 2023. Financially, the firm has returned to profitability: it projects 2025 revenue of $5.1 billion (a roughly 76% year-over-year increase) and earnings per share (EPS) of $1.38, compared to a $9.90 per-share loss in the prior year. The market is now focused on how the IPO will validate the company’s targeted valuation of around $40 billion. Underwriters include Morgan Stanley, Citi, Barclays, and UBS.

On May 4, energy infrastructure platform Hut 8 Corp. announced its subsidiary has entered into a 364-day, $200 million Bitcoin-backed credit facility with FalconX—replacing its existing credit line with Coinbase. Hut 8 CEO Asher Genoot said the move aims to cut capital costs, reduce risk, and boost strategic flexibility. FalconX’s Credit Lead Craig Birchall noted Hut 8’s diversified revenue streams and track record operating through multiple market cycles make it a rare top-tier institutional borrower.