FDT Founder Vincent Chok: WLFI Not the First Targeted by Justin Sun, Lawsuit Against FDT Has No Evidence After Several Years
May 5 — A day after WLFI filed a lawsuit against Justin Sun, First Digital Trust (FDT) founder Vincent Chok spoke out Thursday, noting WLFI is not the first target of Sun’s public attacks: FDT has been tied up in litigation with him for more than a year.
Chok said Sun has publicly accused FDT over the past 12 months but has yet to provide any substantial evidence. During that time, Sun twice put up bounties for what he called “internal evidence” — increasing the reward from $50 million to $100 million — and no one has come forward to claim it so far.
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DSJEX Ponzi Scheme Collapse: Involved Funds Exceed $150 million, with Approximately $41.5 million Frozen
On May 5, on-chain investigator ZachXBT uncovered that the DSJ Exchange (DSJEX) and BG Wealth Sharing Ponzi schemes collapsed last week, with total losses topping $150 million. Between April 27 and May 3, over $92 million was laundered via cross-chain transfers.
Working with Tether, the Binance Security Team, OKX, and U.S. law enforcement agencies, roughly $41.5 million has been frozen—including $38.4 million by Tether and approximately $3.1 million by other platforms.
Investigators found the scheme operated since 2025, luring users with daily returns of 1.3%–2.6% and expanding via referral bonuses and ranking rewards. The platform fabricated a CEO named “Stephen Beard,” regularly switched domains and hot wallets to evade regulation, and pushed false trading signals on social media.
On May 2, the team claimed an IPO was imminent and demanded users pay a 12% “tax”—but withdrawals were already disabled by then. Funds were primarily dispersed via Tokenlon swaps, cross-chain bridg
15 minutes ago
An anonymous whale deposited $5 million USDC into HyperLiquid to open a 5x leveraged BTC long position.
On May 5, per OnchainLens data, a whale address deposited ~5 million USDC into HyperLiquid and opened a 5x leveraged long position on Bitcoin.
The address currently holds a total long position of 629.16 BTC across two wallets, valued at roughly $51 million at current market prices.
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Bitcoin Surges Above $81,000 Triggering Debate: Super Cycle or Bear Market Rally?
May 5th.
Bitcoin gained roughly 3.5% this week, hitting a fresh January high of $81,325. Market sentiment is sharply divided on the current price action: some analysts call it the start of a "super cycle," while others peg it as a bear market rally.
Several analysts note that ongoing institutional accumulation could push Bitcoin to $180,000–$200,000 over the next year, with long-term potential in the $250,000 range. This depends on the price holding above the mid-term support level of ~$60,000; a break below would undermine the super cycle thesis.
From a technical standpoint, Bitcoin is currently testing a key resistance zone between $80,000 and $82,000—reinforced by the 200-day moving average and the upper bound of a descending channel. This area has historically acted as strong resistance. A failure to break above decisively could trigger a short-term pullback to $70,000–$72,000, or an extreme dip to $50,000.
Analysts also note the current market structure shows institutio
15 minutes ago
Funding Rate Negative for 66 Consecutive Days, Bitcoin Rises to Near $81,000, Institutional Hedge Driving Force
May 5: As Bitcoin traded near $81,000, its perpetual contracts’ 30-day average funding rate remained negative for 66 straight days—marking the longest such streak in a decade.
In a negative funding rate environment, short positions pay fees to long positions, with the current annualized cost at roughly 12%. Still, Bitcoin gained ~12% in April, while open interest (OI) climbed ~12% as well—suggesting the market avoided typical panic selling.
Analysts note the trend stems largely from institutional hedging, not just bearish sentiment. This includes: hedge funds shorting futures amid redemption windows; basis trading (going long on associated stocks while shorting Bitcoin); and mining companies hedging Bitcoin holdings as they shift to AI mining operations.
Historical data shows buying Bitcoin during comparable negative funding rate periods yields positive 90-day returns 83% to 96% of the time. Market consensus holds that a decisive break above the ~$82,000 key resistance level o
15 minutes ago
Strategy's holdings have realized approximately $5.1 billion in gains year-to-date.
On May 5, Michael Saylor—founder of Strategy—stated the company has already realized a gain of 63,410 BTC (roughly $5.1 billion) this year. It currently holds 818,334 BTC, accounting for approximately 3.9% of Bitcoin’s total supply.
Data shows the company’s current Bitcoin reserves are valued at around $66.299 billion, with a year-to-date return on investment (ROI) of 9.4%.
15 minutes ago
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