Arthur Hayes Hypes Up Long Again: One Step Closer to $150 Target
On May 21, BitMEX co-founder Arthur Hayes posted on social media, stating, “HYPE’s all-time high is coming ever closer, and its $150 price target is now closer than it’s ever been.” According to HTX market data, HYPE is currently trading at $57.31, marking a 17.8% gain over the last 24 hours.
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Syndicate Labs to Cease Operations Due to Rollup Market Contraction
May 21: Syndicate Labs announced it will cease operations after five years of developing on-chain infrastructure for a customizable Ethereum Rollup and sequencer, citing a shrinking Rollup market as the reason for the closure.
The Ethereum scaling ecosystem is now dominated by three major players: Arbitrum One, Base, and OP Mainnet, which together hold 75% of the total market share. Smaller firms have been gradually squeezed out as user activity and capital concentrate toward these top three platforms. Syndicate Labs secured a $20 million Series A funding round in 2021, led by Andreessen Horowitz.
News of the shutdown has sent the SYND token price tumbling: it dropped 21% in just three hours, hitting a new all-time low of $0.012—representing a 99.5% plunge from its peak of $2.61 in September 2025.
In a clarification, Syndicate Labs noted the Syndicate Network Collective operates independently from the company, so SYND token governance will not be immediately affected. The firm also
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Former Bankless member reveals team has undergone a large-scale layoff, co-founder Ryan steps back as Bankless enters its "Second Age"
May 21. Former Bankless team member Lucas posted on social media today, sharing: "Figured I’d lay out what’s been unspoken—apparently Bankless laid off most of its entire team yesterday. There was no word of thanks, nor a public heads-up to help those team members land on their feet."
Prior to this news breaking, Bankless co-founder David Hoffman announced on X that he has sold all his Ethereum (ETH).
Another co-founder, Ryan Sean Adams, noted that Bankless’s first era has come to an end. He and David worked together for six years, exploring crypto, decentralized finance (DeFi), and unlocking Ethereum’s full potential. Bankless is now entering its second chapter. For this next phase, Ryan plans to step back to support David Hoffman as he explores crypto and broader frontiers. He’ll still show up on the weekly podcast (definitely not skipping the Rollup segment!), but will reduce his involvement in shaping content and conducting guest interviews. David will take the lead moving forwar
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Technology IPO Boom: Global AI Concept Companies Set to Go Public
May 21 | Global AI companies are accelerating their initial public offering (IPO) efforts across multiple markets, including China’s A-share market, Nasdaq, the New York Stock Exchange (NYSE), and South Korea’s Korea Exchange (KRX). In the U.S., firms like OpenAI, Anthropic, Databricks, and Lambda are advancing their IPO plans. The A-share market is drawing focus to AI storage and model players such as ChangXin Technology, Suiyuan Technology, Changjiang Storage, Kunlun Core, and Zhipu. South Korea’s KRX includes AI semiconductor and model startups like Rebellions, DeepX, Upstage, and FuriosaAI.
This ongoing AI IPO wave has expanded beyond foundational models to span the full industry chain—covering AI chips, storage, cloud computing power, AI agents, and data infrastructure. Some companies have entered public filing or regulatory counseling stages, while others remain in media preparation or market expectation phases. With AI commercialization accelerating, capital expenditure growing
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Coinbase Bitcoin Premium Index Records Negative Value for 6 Consecutive Days
May 21: Data from Coinglass shows Coinbase’s Bitcoin Premium Index has remained in negative territory for six straight days, currently standing at -0.0919%. Outflows from U.S. Bitcoin spot ETFs highlight the fading buying power in the American market.
The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase and the global average market price. A negative premium typically signals heightened selling pressure in the U.S. market, reduced investor risk appetite, a rise in hedging sentiment, or capital outflows.
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Huobi Futures Launches "1U Opening" Feature, Allowing New Users to Experience 10x Leveraged Trading with Just 1 USDT
May 21: Per the official announcement, Huobi (operating under the name HTX) officially rolled out its 1U Long Position feature on May 20. Running concurrently through May 31 at 23:59 UTC+8 is a triple-exclusive promotion. Users who complete their first one-click position opening and leveraged trading tasks will split a prize pool exceeding 40,000 USDT.
The 1U Long Position is a streamlined, user-friendly onboarding tool built by Huobi HTX for new leveraged trading participants. With just 1 USDT as principal, traders can control a 10 USDT position, access interest-free borrowing, have their initial losses fully compensated by Huobi HTX, and join the offering without any prior leverage trading experience required.
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