A whale has opened a long position with a total value of $32.62 million, with an unrealized profit of over $3.4 million.

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.

May 25 — Cross-chain protocol Squid has issued a statement addressing a recent security incident, making clear the breach didn’t originate from Squid’s core protocol or Router contract. The vulnerability instead lied in a third-party Gnosis Safe module named "SquidRouterModule", resulting in the theft of around $3.2 million in assets from the Base and Ethereum blockchains. Squid stressed that this module was not developed, deployed, or operated by its official team—it was merely an integration of Squid’s functionality into a third-party smart wallet product. Attackers exploited a flaw in the module’s validation mechanism by inputting a specific public string to bypass checks, enabling them to execute arbitrary calls to steal funds. The affected wallet had this module designated as a trusted Safe Module, allowing it to initiate asset transfers without additional signatures. To note, Squid confirmed that its official Router contract, user funds, authorization systems, and other integra

Crypto Breaking Update, May 25: Arkham Monitoring reports an ancient Ethereum whale address has made its first move after over 10 years of inactivity. The address, tagged "0x158", bought 2,000 ETH during Ethereum’s initial coin offering (ICO) for a total of around $620, working out to just $0.31 per ETH. No transfers were sent from this wallet in more than a decade — until 10 minutes ago, when it finally moved its assets for the very first time. At current market value, the 2,000 ETH are now worth roughly $4.2 million, representing an astonishing 6,800x return on the original investment.

On May 25, ESPORTS plummeted over 90% in the last hour, bringing its current market cap to $33 million. On-chain analytics show that the ESPORTS team’s associated address sold off all 60 million of its tokens, locking in a profit of more than $6 million. Two months ago, this same address had unlocked over 60 million ESPORTS tokens from the Gnosis Safe multisig treasury (a mix of the project’s and VC allocations).

On May 25, President Trump tweeted that negotiations between the U.S. and Iran were "progressing well." If a "great agreement" can’t be reached, the situation could slide back into a "larger-scale battlefield." Trump revealed he’s been in contact with leaders from Saudi Arabia, the UAE, Qatar, Pakistan, Turkey, Egypt, Jordan, Bahrain, and other countries, and he’s asked those nations to "sign the Abraham Accord simultaneously" to push for full reconciliation in the Middle East. Trump stated that the Abraham Accord has brought "financial, economic, and social prosperity" to member countries including the UAE, Bahrain, Morocco, Sudan, and Kazakhstan, and he added that if Iran strikes a final deal with the U.S., Iran would also be welcome to join this "unprecedented global alliance." Trump emphasized his hope that Saudi Arabia and Qatar would be the first to sign, with the rest of the countries following suit, noting that this could become "the most important peace agreement in the Mid