Federal Reserve's Harker: Inflation Performance Disappointing and Trend Unfavorable

Per Coinglass data, total crypto liquidations hit $188 million in the 24 hours through May 9, with long positions accounting for $117 million and short positions totaling $70.9 million. ### Notes on American English adaptation: 1. **Conciseness**: Used "hit" (common in market updates for urgency) instead of "reached"; omitted redundant "the total value of positions" (liquidations inherently refer to value). 2. **Clarity**: Added "crypto" to specify the market (standard in U.S. financial/blockchain news); used "through May 9" (natural for "past 24 hours ending on May 9"). 3. **Flow**: Avoided repeated "totaling" by switching to "accounting for" for long positions (variety without losing meaning). 4. **Casual precision**: Kept numbers consistent (no unnecessary decimals for shorts, matching U.S. news brevity). If you prefer ultra-brief (typical for crypto news alerts): *Per Coinglass, total crypto liquidations hit $188M in 24h through May 9: $117M longs, $70.9M shorts.*

On May 9, Bitget market data shows Advanced Micro Devices (AMD) jumped nearly 8%, pushing its market capitalization above $710 billion to a record high. Intel (INTC.O) also rose nearly 8%, with its market cap approaching $600 billion, hitting a new all-time high.

May 8 – Per Iran’s Tasnim News Agency, the Persian Gulf crisis has subsided, with the situation now calm.

On May 8, Iran’s Fars News Agency reported that a senior Iranian lawmaker stated the U.S. naval blockade will now face a military response from Iran.

May 8th, *The Guardian* reports British sprinter CJ Ujah—2017 World Athletics Championships 4x100m relay gold medalist—is among 10 suspects charged with conspiracy to defraud, as part of a police probe into cryptocurrency fraud. The suspects are alleged to be part of an organized crime syndicate running a scam: they contacted victims by phone, posing as cops or crypto company staff to steal funds. Authorities say victims were tricked into sharing critical security information—including their mnemonic phrases—only to find funds in their crypto wallets stolen. One victim lost more than ￡300,000. The operation was led by the Eastern Region Special Operations Unit across Kent, Essex and London after an investigation. All 10 suspects appeared in a magistrates’ court last Thursday.

On May 8, TeraWulf reported that its High Performance Computing (HPC) business outpaced its Bitcoin mining segment in revenue for the first time last quarter—marking a growing trend of former Bitcoin mining-focused firms pivoting to AI and hyperscale cloud infrastructure. The company announced total Q1 2026 revenue hit $34 million, nearly matching the $34.4 million it posted in the year-ago period. Notably, HPC leasing revenue reached $21 million, topping the digital asset (Bitcoin mining) revenue of under $13 million. As long-term compute power leasing contracts ramp up, TeraWulf’s HPC business is expanding rapidly.