BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

May 22: Per Arkham Data, the wallet linked to Trump Media Technology Group (Trump Media) transferred 2,650 Bitcoin to Crypto.com, a transaction valued at $204.93 million. The address now holds a total of 6,889 Bitcoin, worth $532.78 million.

May 22 – According to EmberCN’s monitoring, 122 million EIGEN tokens (worth $23.88 million) were unlocked and redeemed from staking 7 hours ago, representing 16.5% of EIGEN’s total circulating supply. The unlock comes from addresses linked to investment firm Polychain, which pulled the full batch from the staking contract of EigenCloud (previously known as EigenLayer). As of press time, the EIGEN tokens have not been further transferred. The funds are part of Polychain’s 2024 investment allocation, and the venture capital firm is one of EigenCloud’s lead investors.

Here’s the natural American English rewrite of the news brief: OpenAI CEO Sam Altman told employees in an internal speech on May 22 that even if the company files IPO paperwork quickly, it won’t go public right away. The exact listing timeline will hinge on market conditions and other factors—with September tagged as the earliest target, though the schedule remains flexible. Earlier reports noted OpenAI plans to confidentially submit its IPO application to regulators soon, possibly as early as this Friday. Insiders confirmed Goldman Sachs and Morgan Stanley are helping draft the company’s IPO prospectus. This week, OpenAI cleared a major IPO hurdle when Altman won a legal dispute against rival Elon Musk—but the firm still faces key challenges, the biggest being whether the market believes it can generate enough revenue to cover its massive data center spending commitments. Per PolyBeats monitoring, prediction market Polymarket puts the odds of OpenAI going public by August’s end at j

On May 22, per monitoring by OnchainLens, whale Evaded (@ICanPlug) hiked its Ethereum (ETH) long position to 18,100 coins, worth $38.5 million. The trader also maintains long positions in ZEC and HYPE, with the total value of its current positions posting an unrealized profit exceeding $7.6 million.

May 22: U.S. Rep. Nick Begich formally introduced the American Reserve Modernization Act (ARMA), backed by 16 initial cosponsors. The bill aims to codify the strategic Bitcoin reserve former President Donald Trump set up via executive order. Under ARMA, a dedicated strategic Bitcoin reserve would be established, all federally held digital assets consolidated, and these holdings locked in as a long-term reserve asset for at least 20 years. The legislation would also explore a budget-neutral approach to acquiring Bitcoin and put safeguards in place to prevent future administrations or Congress from liquidating the reserve arbitrarily.