Arthur Hayes is bullish on HYPE's market cap surpassing SOL, stating that it should be ranked higher.
May 31: BitMEX co-founder Arthur Hayes called out most of the top-ranked cryptocurrencies by market cap today as "shitcoins," claiming HYPE will surpass SOL before the current bull cycle wraps up.
Per Coingecko data, HYPE currently holds a $15.04 billion market cap, while SOL stands at $47.73 billion—creating a roughly $32.69 billion gap between the two assets.
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Cosmos Ecosystem Cross-Chain Bridge Gravity Bridge Announces Service Shutdown
On May 31st, Cosmos ecosystem cross-chain bridge Gravity Bridge was reportedly targeted in a security breach stemming from a leaked signing key, resulting in the theft of approximately $5.4 million in crypto assets. The official Gravity Bridge team has confirmed the incident and has urgently suspended all bridge services to conduct a full investigation. They’ve also requested network validators to pause their validator nodes and coordinator operations. According to reports, the platform’s contract signing key may have been compromised. This follows an earlier report detailing the same attack, which saw roughly $5.4 million in crypto assets siphoned from the Gravity Bridge protocol.
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Binance sees roughly $1.2 billion in stablecoin outflows this month, highlighting a lack of liquidity in the crypto market
May 31: Analyst Darkfost, citing data from CryptoQuant, reports Binance saw a roughly $1.2 billion net outflow of stablecoins in May—reversing the steady inflow trend of the past two months and signaling a continued weakening of liquidity across the crypto market. As the world’s largest cryptocurrency exchange, Binance’s stablecoin reserves have dropped from $51 billion in November 2025 to $44 billion. Darkfost adds that while Bitcoin has rallied since the start of the year, it hasn’t established a sustainable trend backed by consistent liquidity; the current rebound appears to be more of an oversold technical bounce rather than long-term, momentum-driven growth.
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「Stock God」 Serenity: SIVE to Transform into a US Company, Retain European Subsidiary to Expand Photonics Market
May 31. In response to insider trading allegations targeting heavily invested stock Sivers (SIVE), a Swedish prosecutor has recommended Nasdaq launch an investigation. Dubbed the "New Stock God," Serenity posted on X that Sivers (SIVE) should undergo a full transformation into a U.S.-based company, with a Nasdaq listing as the first step.
The rationale for this move: Sivers already has a U.S. capital structure, high institutional ownership, and support from the CHIPS Act—factors Serenity said would unlock a higher valuation premium and potential merger opportunities. Negative reports from Swedish local media, alleged to be influenced by short sellers, are viewed as harmful to the development of AI photonics, he added. The U.S. market would provide stronger financing access, plus broader support from institutions, funds, and indices.
Serenity also suggested Sivers retain its European business as a subsidiary, centrally managed by its upcoming U.S. parent. There are further hints that
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A certain Ethereum whale, after 7 months of silence, has chosen to "surrender" and deposited 1504 ETH into OKX.
On May 31, monitoring from Onchain Lens points to a crypto whale that had been inactive for seven months: the address deposited 1,504 ETH to OKX. The transferred ETH was valued at $3.05 million at the time of the deposit, yet the whale suffered a $2.82 million loss on the transaction.
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In Qingdao, China, a man stole 107 BTC from an acquaintance while "helping register a wallet," and was sentenced to 10 years and 9 months in prison for theft.
On May 31, a high-profile Bitcoin theft case concluded in Qingdao, China, with a court upholding a lengthy prison sentence and clarifying how Chinese law classifies cryptocurrency, per local judicial dispatches.
The Licang District Prosecutor’s Office in Shandong Province led the case, and the final ruling was affirmed on appeal. The defendant, identified as Zhang, gained access to an acquaintance’s cryptocurrency wallet mnemonic phrase while helping the individual set up their account. He later transferred 107 Bitcoin in multiple transactions—assets valued at over 50 million yuan (roughly $6.9 million) at the time of the crime. Zhang converted the stolen crypto to 660,000 yuan (about $91,000) in cash, but claimed his actions amounted to “protective control”—a defense rejected by prosecutors and judges.
In its ruling, the court confirmed Bitcoin qualifies as property under Chinese criminal law. While China does not recognize cryptocurrency as legal tender, judicial authorities hold t
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