A long-dormant whale moves 50,000 ETH to Gemini, still holding 85,000 ETH

On May 4th, Bitget data shows that at the U.S. stock market open, the Dow Jones Industrial Average (DJIA) dropped 0.3%, the S&P 500 Index fell 0.1%, and the Nasdaq Composite opened flat. Crypto-related stocks posted mixed but mostly stronger performance, with the following moves: - MicroStrategy (MSTR): +2.39% - Coinbase (COIN): +5.43% - Circle (CRCL): +10.79% - Gemini (GEMI): +3.85% - MARA Holdings (MARA): -0.13% - Riot Blockchain (RIOT): +9.3% - Bit Digital (BTBT): +2.65% - StrongNode (SNODE): +2.81%

GameStop’s stock price jumped 5.8% to a record high on May 4th, per Bitget data, after eBay received a $56 billion cash-and-stock acquisition offer.

As of May 4, on-chain analytics firm Yujin Monitoring reports: - Bitcoin treasury firm Strategy (MSTR) holds 818,334 BTC (valued at $64.413 billion), with an average cost basis of $75,537 and an unrealized gain of $2.598 billion (+4.2%). - Ethereum treasury firm Bitmine (BMNR) purchased ~101,745 ETH ($235 million) last week at $2,311 per token. It now holds 5,180,131 ETH (valued at $12.08 billion), with an average cost basis of $3,546 and an unrealized loss of $6.289 billion (-34.2%).

May 4 — Per a globenewswire release, U.S.-listed Solana treasury firm DeFi Development Corp. (Nasdaq: DFDV) has launched a $2 billion At-The-Market (ATM) equity financing plan. Proceeds will fund SOL acquisitions, supplement working capital, and support strategic initiatives. The company emphasized share issuances will only proceed if they are accretive to shareholders on a fully converted per-share SOL basis. Joseph Onorati, DFDV’s Chairman and CEO, stated: “Our sole mandate is to grow shareholders’ SOL ownership. This plan provides a $2 billion funding reserve to do so on our terms.” Beyond holding and staking SOL, DFDV operates its own validator infrastructure — earning staking rewards and fees via delegated staking — and actively pursues decentralized finance (DeFi) opportunities. The firm also runs an AI-driven online commercial real estate platform.

On May 4, Coinbase is set to list the Billions (BILL)/USD spot trading pair, per official sources. The BILL-USD pair will go live later today if liquidity requirements are met and trading support is confirmed.

May 4 — Payward, the parent company of crypto exchange Kraken, has accused former custody partner Etana Custody and its CEO Dion Brandon Russell of embezzling more than $25 million in customer funds, per a second amended complaint filed in a U.S. District Court in Colorado. The complaint further outlines specific alleged fund misuses: diverting at least $16 million in Kraken-linked funds to promissory notes from Seabury Trade Capital (which later defaulted); and using customer assets for forex hedging while retaining all investment gains for themselves. Etana continued to represent to customers that their account balances were secure and intact throughout this period. Kraken is seeking at least $25 million in damages, plus potential treble damages under civil theft claims, injunctive relief, and attorney’s fees. The lawsuit also names Russell individually, alleging he had near-total control over Etana’s operations and directed the misappropriation and concealment of funds. Kraken Di