Coinbase CEO has cashed out approximately $550 million in COIN over the past year.
**Coinbase Update: Armstrong Sells $550M in Shares; Q1 2026 Results Show $394M Loss**
As of May 2025, Coinbase co-founder and CEO Brian Armstrong has sold more than 1.5 million COIN shares, totaling roughly $550 million in proceeds, per OpenInsider tracking data (May 8).
Separately, Coinbase today released its Q1 2026 financial results, reporting a net loss of $394 million for the quarter and total revenue falling to $1.41 billion.
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A whale has built a 443.42 BTC long position with 20x leverage, worth $35.35 million
On May 8th, per Onchainlens data, a crypto whale opened a 443.42 BTC long position with 20x leverage, valued at $35.35 million.
Additionally, the same whale previously traded Ethereum and incurred a $150,000 loss.
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BTC Dominance Rises by 4.4% in a Month, Whale with 13.5M Position Bets on BTC to Continue Outperforming Altcoins
May 8th — Per HyperInsight monitoring, a whale on Hyperliquid opened a 22x leveraged long position on BTC yesterday, with a position size of $6.37 million. The whale also simultaneously held short positions across multiple altcoins totaling roughly $7.14 million; their combined position size across both sides amounts to approximately $13.5 million. This suggests a potential long bet on BTC.D (BTC dominance), signaling confidence BTC will continue outperforming altcoins.
Notably, BTC dominance has climbed steadily over the past month, posting a nearly 4.4% gain. After breaching the 61% level for the third time the day prior, it hit a new high not seen since last November—before edging lower to 60.85% as of now.
Address: 0x6f97d329b072e0f7b74575565d806a4351b8f824
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Preview: US April Non-Farm Payrolls data will be released tonight at 8:30 PM, with the probability of a rate cut in June currently standing at 5.2%.
**US April Non-Farm Payrolls Data Release Tonight**
May 8 – The U.S. April non-farm payrolls report is set to hit at 20:30 UTC+8 tonight.
Economists forecast a 62,000 job gain—well below historical growth rates, but enough to keep the unemployment rate at a relatively low 4.3%. Year-over-year wage inflation is expected to rise from 3.5% to 3.8%.
Historically, monthly non-farm payroll gains below 100,000 have often signaled a weakening labor market and an economy on the brink of recession. That dynamic has shifted now: Federal Reserve official Lorie Logan stated publicly, “Currently, the labor market can reach supply-demand balance with roughly 30,000 monthly job additions.”
Per CME FedWatch data (ahead of tonight’s release), the probability the Fed holds rates steady through year-end is 72.6%. The chance of a 25-basis-point rate cut at the Fed’s next meeting (June) stands at 5.2%.
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Coinbax Wins Consensus Miami PitchFest Grand Prize, Aiming to Solve Banking Stablecoin Payment Compliance Challenges
On May 8, stablecoin compliance infrastructure firm Coinbax won a $20,000 prize at the PitchFest pitch competition held during Consensus 2026 in Miami. Founded by former Jack Henry executive Peter Glyman, the company aims to help banks and financial institutions mitigate compliance risks tied to stablecoin payments.
Coinbax has built a programmable custody infrastructure that adds a control layer to encrypted wallet-to-wallet transactions. Its smart contracts hold funds during third-party identity verification, sanctions screening, and transaction risk assessments—settling only once all conditions are met.
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Largest On-Chain ETH Long Position of 224 million Reaches Breakeven Point, Realizes $12.9 million Profit
May 8th
Per monitoring data from HyperInsight, on-chain metrics show the largest whale holding ETH long positions—affiliated with digital financial services firm BIT (formerly Matrixport)—with a $224.7 million holding, has returned near its cost basis.
The whale strategically allocated its position across four addresses on the Hyperliquid platform, holding a total of 99,000 ETH in long positions. These positions were significantly expanded on April 30, with roughly 18x leverage overall.
Using a fund-weighted average across the four addresses, the whale’s average entry price is approximately $2,270. Following a retracement in ETH prices, the whale saw roughly $12.9 million in unrealized gains erased over two days, and incurred a total funding fee loss of $350,000.
The addresses belong to BIT, which has repeatedly received transfers from within its ecosystem. Previously, the addresses held multi-million-dollar ETH long positions that generated over $50 million in profits.
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