A Whale Longing Oil Loses Over $10 Million

May 6th — London-based crypto startup OpenTrade has closed a $17 million strategic funding round, pushing its total capital raised to over $30 million. The round was led by Mercury Fund and Notion Capital, with participation from a16z crypto, AlbionVC, and CMCC Global. OpenTrade bills itself as an institutional-grade on-chain platform for real-world asset-backed (RWA) lending and stablecoin yield products. The company will deploy the capital to expand its infrastructure bridging permissioned and permissionless systems. Target products from this expansion include a permissionless protocol layer and Curation+ — a vault curation framework built to help fintechs, neobanks, custody teams, and asset issuers craft yield strategies linking RWAs and on-chain assets. OpenTrade notes that unlike typical decentralized finance (DeFi) vault curators (which focus primarily on protocol selection), Curation+ leverages regulated asset management oversight to build portfolios connecting RWAs and on

On May 6, per HTX market data, Bitcoin broke above $82,000—sparking a rebound in the altcoin market. Key gainers include: - FHE: Currently trades at $0.0442, up more than 61% in the past 24 hours - LAB: Trades at $3.5716 now, up over 37% in the last 24h - ZEC: Priced at $575.02, up more than 36% in 24 hours - IO: Trading at $0.1619, up over 35% in the past day - TON: Currently at $2.3997, up more than 27% in 24h - STORJ: Trades at $0.1256, up over 25% in the last 24 hours This version uses concise, natural phrasing common in U.S. crypto news (e.g., "broke above," bullet points for readability, abbreviations like "24h" for brevity) while retaining all original data.

On May 6, TON has surged past $2.3, trading at $2.367 as of now with a 24-hour price gain of 24.9%, according to HTX market data. On May 4, Telegram founder Pavel Durov announced via his personal channel that Telegram will replace the TON Foundation as TON’s driving force and become its largest validator. Since that announcement, TON has jumped from $1.375 on May 4 to today’s $2.367, marking a total increase of roughly 72.15%.

On May 6, Bloomberg reported that Morgan Stanley is launching cryptocurrency trading on its E*Trade platform, with a fee of 50 basis points per trade (tied to the transaction amount)—lower than rates from major competitors like Coinbase, Robinhood, and Charles Schwab. The service is currently in a pilot program, and E*Trade’s 8.6 million customers will gain access later this year. Morgan Stanley noted this move is part of its strategy to expand market share in the crypto space. The firm is betting on the gradual convergence of traditional finance and DeFi, growing its crypto asset-focused business to attract users who previously turned to other platforms.

May 6 – The U.S. ADP Employment Report for April showed 109,000 jobs added, marking the largest gain since January of last year. The figure topped the market’s expectation of 99,000 jobs and exceeded the prior month’s reading of 62,000. Per CME’s FedWatch Tool, following the release of the ADP NFP data, the probability the Federal Reserve will hold interest rates steady through June stands at 93.9% (down from 94.2% previously). The odds of a 25-basis-point rate cut in that window are 6.1% (up from 5.8% prior). (Source: FXStreet)

May 6 (FXStreet) — U.S. private payrolls grew more than expected in April, per the Automatic Data Processing (ADP) National Employment Report released Wednesday. Private-sector employment rose by 109,000 last month, beating consensus forecasts, while March’s figure was revised down to 61,000. The U.S. labor market remains in a “low hiring, low firing” state. April’s stronger-than-expected private job growth underscores the labor market’s stability. Amid persistent high inflation, this performance also eases pressure on the Federal Reserve to cut interest rates.