The crypto market is currently experiencing a global risk asset "dump."

On May 28th, Hyperinsight Monitoring reported that the crypto market saw a short-term downturn, as well-known liquidation address "Big Brother" Huang Licheng’s ETH long position was liquidated again. A total of 3,520 ETH (valued at roughly $7.07 million) was liquidated, nearly clearing out his entire account. But the real hard-hit area in this round of decline was BTC long positions: two high-leverage addresses had positions worth tens of millions liquidated consecutively, both far exceeding the loss of "Big Brother". Details are as follows: Whale Address 0xaea: Liquidated twice, with a total of 208 BTC longs liquidated – approx. $15.3 million in value, leading to a loss of ~$270k, marking the largest single liquidation event across the entire network. Whale Address 0x76d: Before hitting the liquidation price, the address manually closed positions four times, ending up with total liquidation of 497 BTC longs (valued at around $31.9 million) and a loss of roughly $460k. Addresses: 0

May 28 update: Per Farside Investors’ monitoring, Bitcoin ETFs saw a net outflow of $733.4 million yesterday, with IBIT posting a net outflow of $527.8 million. For Ethereum ETFs, net outflows hit $67.1 million, with ETHA accounting for $65.1 million of that total.

Xinhua News Agency, May 28 — Iran's Islamic Revolutionary Guard Corps (IRGC) Public Relations Department announced on May 28 that earlier that same day, the U.S. military launched an airstrike against a location on the outskirts of Bandar Abbas. In response, the IRGC carried out a strike targeting the U.S. Air Force base that launched the initial attack.

May 28th — U.S. President Donald Trump took to Truth Social to announce he’ll lead efforts to build a “forward-looking” digital asset market structure. He slammed former SEC Chair Gary Gensler and what he called the “anti-crypto army” for pushing Bitcoin, crypto perpetual contracts, and crypto innovation overseas. Trump vowed, “Under my leadership, we will enshrine a set of ‘forward-looking’ digital asset market regulations into law that crypto haters cannot overturn. The new frontier of finance is being built in the United States, and ‘Trump’ will never disappoint the crypto industry!” At the time of his remarks, the Clarity Act — a bill designed to establish a comprehensive regulatory framework for digital assets — cleared the Senate Banking Committee in early May after months of delays tied to debates over stablecoin rules and other sticking points. However, analysts note the legislation still faces major hurdles before becoming law. Benchmark analyst Mark Palmer explained that the

On May 28, the cryptocurrency market remained weak. Coinglass data shows that total liquidations across all exchanges over the past 24 hours reached $701 million. Breaking this down, liquidated long positions accounted for $648 million, while short-position liquidations totaled $53.59 million.

On May 28, Hyperinsight, via its Telegram monitoring, flagged a Hyperliquid whale that deposited roughly $4.3 million two months ago. Since participating in on-chain U.S. stock trading offered by Trade.xyz, the wallet has accumulated around $8 million in profits, pushing its total funds to over $12 million — a 280% return on the initial investment. The most profitable assets driving these gains are Micron Technology (MU) and NVIDIA (NVDA). As of press time, the address in question — 0x577ae91c7b74f04ddb3a5b399ded8318e9895fd2 — still maintains an open long position in MU that hasn’t been closed. This position holds an unrealized gain of $7.2 million (or +77.8%). The long position was opened at the start of the wallet’s creation two months ago, when Micron’s stock price traded at roughly $520. As MU’s stock price continued climbing, the position’s value grew passively, making it the largest long position in MU on Hyperliquid.