Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

On April 28th, per Onchainlens monitoring, five newly created wallets withdrew 512,018 DEXE tokens from a centralized exchange (CEX) over the past 13 hours—valued at $7.52 million.

As of April 28, CoinGecko data shows: - Solana held the top spot in spot trading with a 30.6% quarterly market share, despite a 26.5% drop in trading volume. - That said, Ethereum overtook Solana in March (27% share vs. Solana’s 26%). - BSC claimed the No. 2 spot with a narrow lead over Ethereum (24.5% quarterly share vs. ETH’s 23.7%), but its volume decline was steeper. It’s expected to fall to third place in Q2. Separately, Monad—whose mainnet launched in November 2025 amid a bear market’s early stages—has seen trading volume climb steadily. It now ranks as the 10th most active chain in spot trading, topping Unichain and Optimism.

OpenAI has missed its self-imposed targets for new user growth and sales, with internal worries mounting that the company may struggle to fund its massive artificial intelligence infrastructure spending, according to a Wall Street Journal report cited by Sentinel Beating (via its Telegram channel at t.me/OneMillion_AI). Citing people familiar with the matter, the Journal notes OpenAI fell short of its internal goal to reach 1 billion weekly active ChatGPT users by the end of 2025—this as rival Anthropic has gained ground in programming capabilities and the enterprise market. The company has not disclosed the missed milestone, stoking unease among some investors. Additionally, insiders say OpenAI is also facing challenges with subscriber churn rates. OpenAI Chief Financial Officer Sarah Friar has flagged concerns in executive discussions that the company may not afford its future computing needs if sales don’t ramp up quickly enough. In recent months, she has also expressed reserv

On April 28th, **HyperInsight Monitoring** reports that the whale facing the biggest on-chain liquidation pressure yesterday—who held a 4,500 ETH long position—has suffered **6 consecutive liquidations totaling ~$4.91 million**, making it today’s largest on-chain liquidation address. ### Current Open Positions: - **ETH**: 1,620 ETH liquidated (~$3.67M); remaining position ~$6.62M; liquidation price $2,250 - **BTC**: 10.8 BTC liquidated (~$830K); remaining position ~$1.48M; liquidation price $70,020 - **HYPE**: 99,000 HYPE liquidated (~$410K); remaining position ~$1.46M; liquidation price $37.45 ### Background: The address opened a **25x leveraged ETH long position** last Monday, rolled over continuously for a week, and added 500 ETH to the position early yesterday morning. It encountered two rounds of market downturns last night and this morning, losing ~$610,000 across its three long positions. **Address**: 0xe1d3baa26d94f53897efbeb550d95cc2ab72d5f7 This rewrite

BitMEX co-founder Arthur Hayes told attendees at the Bitcoin 2026 conference on April 28 that he’s increasingly bullish on Bitcoin’s future. AI is set to displace millions of knowledge workers—a shift that could saddle the banking system with hundreds of billions in credit losses, echoing the subprime mortgage crisis. But the U.S. is now at war, with its new defense budget poised to jump ~50% to $1.5 trillion. The U.S. government won’t cut spending; instead, it will print massive amounts of money. The enhanced Supplementary Leverage Ratio (SLR) rule, effective April 1, lets banks hold fewer reserves and more government bonds. S&P Global projects this will unlock ~$1.3 trillion in extra lending capacity for banks—primarily for defense firms and AI infrastructure. With a bank lending money multiplier of ~3, this could ultimately create ~$4 trillion in new credit. Federal Reserve Chair nominee Wash plans to shrink the Fed’s balance sheet while easing bank regulations, letting com

April 28th – Per Coinglass data, Bitcoin’s slight dip has coincided with a notable easing of bearish sentiment across major centralized (CEX) and decentralized (DEX) exchanges, as reflected in current funding rates (see attached chart). **Note from BlockBeats**: Funding rates are fees set by crypto exchanges to align perpetual contract prices with underlying asset values. They facilitate fund exchanges between long and short traders; exchanges do not collect these fees. The mechanism adjusts holding costs or benefits for traders to keep contract prices tethered to the underlying asset. **Key Baseline**: A 0.01% funding rate is the benchmark. Rates above 0.01% signal broad bullishness, while rates below 0.005% indicate general bearishness.