ESPORTS Plunges Over 90% in 1 Hour, Market Cap Drops to $33 Million

On May 25, Coinbase CEO Brian Armstrong unveiled the firm’s "Global Financial Upgrade" initiative, laying out eight core visions: tokenization of real-world assets, 24/7 global trading, stablecoin payments, AI-driven compliance, open protocols, capital formation, pro-crypto regulations, and "sound money" principles. The plan closely aligns with Coinbase’s existing product expansion roadmap. Coinbase is shifting from a standalone cryptocurrency exchange to an "omnifinancial platform," expanding into segments like stock perpetual contracts, prediction markets, stablecoin payments, and financial infrastructure. In March of this year, the exchange launched U.S. stock perpetuals for Apple, Nvidia, and other major assets in select European regions. Prior to that, it partnered with institutions including Shopify, Stripe, Nium, and Citi to advance USDC cross-border payments and stablecoin settlements. Additionally, in January this year, Coinbase launched a Kalshi-backed prediction market ser

May 25 — According to AI Goddess monitoring, an investor spent $2.53 million to acquire ASTEROID’s largest holding, and is now sitting on a $675,000 paper loss. Between April 19 and April 25, he purchased 8.4 billion ASTEROID tokens at an average price of $0.0003013 each. Now that the token’s market cap has fallen below $100 million, his investment has shrunk by 26.7%.

On May 25, Kevin Warsh—personally appointed by U.S. President Donald Trump—was officially sworn in as Chair of the Federal Reserve. With this appointment, the report notes, Trump is now taking full political responsibility for the U.S. economy and inflation’s performance for the first time. The analysis highlights that Trump has long blamed former Fed Chair Jerome Powell for high interest rates, a sluggish housing market, and economic slowdown. But with Warsh at the helm, the Fed’s policies are widely seen as a direct extension of what’s dubbed the “Trump economy.” Right now, the U.S. economy faces multiple pressures: the 30-year mortgage rate has risen above 6.5%, PCE inflation stands at 3.5%, and the national average gasoline price exceeds $4.55 per gallon. Markets are worried that amid persistent high inflation, the Fed could be forced to keep raising rates— a move that would further undermine the Republican Party’s midterm election prospects. Additionally, Warsh advocates scalin

May 25 (Xinhua) — Iranian Foreign Ministry spokesman Bagheri told reporters at a press conference in Tehran, Iran, that China has played a “constructive and positive role” in advancing regional ceasefire and negotiation efforts while discussing the broader regional situation. He added that China and Russia have taken a positive position at relevant United Nations Security Council meetings, and that Iran has recently held consultations with Chinese and Russian diplomats on developments in the situation.

May 25, on the eve of SpaceX’s initial public offering (IPO), a related-party transaction dispute has come to light. Antonio Gracias, a close associate of Elon Musk, holds over 7.3% of SpaceX’s shares through his investment firm Valor Equity — stakes valued between $90 billion and $140 billion based on the company’s target valuation. SpaceX has also disclosed an approximately $20 billion GPU leasing agreement with Valor, under which it is leasing AI infrastructure hardware from its xAI subsidiary, with SpaceX issuing payment guarantees for the deal. PwC has deemed the transaction more akin to a loan than a conventional lease, and is requiring that the related $9 billion debt be recorded on SpaceX’s balance sheet. Several corporate governance experts have criticized the deal’s insufficient disclosure of “fair dealing” practices, questioning the risk of related-party benefit transfers. Separately, reports indicate new Nasdaq rules may drive SpaceX to quickly list on the Nasdaq index fo

May 25 – This week, the cryptocurrency market will center on key U.S. macroeconomic data releases—including the PCE inflation report, initial jobless claims, home price indices, and new home sales figures—to assess how much room the Federal Reserve has for potential interest rate cuts. Currently, both market consensus and the CME FedWatch Tool signal a high probability that the Fed will hold interest rates steady in June. Investors are also closely monitoring developments in the Middle East and associated oil price swings. A sustained rise in energy prices could worsen inflationary pressures and weigh on the performance of risk assets. Additionally, multiple DAO governance votes and token unlocking events are on deck this week, covering projects such as EIGEN, HUMA, and GRASS.