Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

May 6th — Per HyperInsight monitoring, the crypto market extended its upward momentum over the Labor Day holiday. Traders who opened 10x leveraged long positions on BTC the day before Labor Day could now hold up to a 63% floating return. An on-chain whale with an address starting with 0x66f entered a 10x leveraged long position on April 30th (the day before the holiday), purchasing 750 BTC valued at $60.8 million and capitalizing on the recent rally. Post-holiday gains pushed the whale’s current floating profit to over $3.8 million, cementing its status as the largest BTC long position address on the Hyperliquid platform. Address: 0x66f463866512fc337c89bad2032acbe38ee38836

**May 6 — Decentralized perpetual contract exchange Lighter has officially struck a strategic partnership with stablecoin issuer Circle.** Under the agreement, USDC will be the default and preferred stablecoin across Lighter’s full product suite, including spot and perpetual contract trading, settlement, clearing, and user onboarding. In a Tuesday social media post, Circle noted: “As on-chain markets scale, trusted dollar infrastructure becomes core market infrastructure.” Lighter responded that USDC has been the underlying asset for its protocol and traders since launch, adding both parties plan to deepen their collaboration.

On May 6, MicroStrategy founder Michael Saylor broke his longstanding "never sell your Bitcoin" stance for the first time during the company’s Q1 2026 earnings call livestream, saying the firm may sell a portion of its Bitcoin holdings to pay a dividend. "We might sell some Bitcoin to pay a dividend—aimed at desensitizing the market and signaling we’ve done so," he stated. Saylor has long publicly championed the "never sell Bitcoin" mantra, repeating it on CNBC, Bloomberg, and Twitter, and even pledging to donate his Bitcoin to Bitcoin-supporting organizations posthumously. To date, MicroStrategy’s treasury has not sold a single Bitcoin, cementing that commitment in public perception. In its April 2025 10-K filing with the SEC, MicroStrategy included a risk disclosure: without new financing, the company could be forced to sell Bitcoin to cover financial obligations. That sparked market speculation Saylor was poised to sell, but he immediately denied it, calling the scenario "h

**May 6 – South Korean entertainment firm K Wave Media has filed with the U.S. SEC to repurpose up to $485 million of its original $500 million planned Bitcoin purchase toward a $5 billion total financing package for AI infrastructure.** The funds will be allocated to data centers, GPU computing, and AI-related acquisitions. The company’s CEO stated the goal is to “become a key player in the fast-growing AI infrastructure sector” and plans to rebrand the firm as “Talivar Technologies.” Market response has been tepid: the stock fell 24% on Monday, with an additional 4% decline in pre-market trading.

May 6th — Per HyperInsight monitoring, Bitcoin (BTC) continued to rally during the holiday period, pushing above $81,000. On-chain trader "pension-usdt.eth," which previously focused on short-term trades, has been forced to hold its position for more than 35 days. Its unrealized losses on short positions have hit $18 million, making it the address with the biggest losses on Hyperliquid over the past 7 and 30 days. Currently, the address holds: - A 3x leveraged BTC short position (size: $81.2 million) with an average entry price of $67,992; - A 3x leveraged ETH short position (size: $47.3 million) with an average entry price of $2,131. It is now the largest on-chain BTC short holder. Address: 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902

On May 6th, per LookOnChain monitoring, trader 0x128e has just deposited ~500,000 USDC to HyperLiquid, shorted 250 BTC with 40x leverage (totaling $20.32M), with a liquidation price of $82,236.61.