"BTC OG Insider Whale" ETH Long Position's Unrealized Loss Widens to $100 Million

On May 7, Telegram founder Pavel Durov shared in his personal channel that TON has the fastest block finality time among Layer 1 blockchains. Data shows TON’s finality clocks in at roughly 0.6 seconds—faster than Avalanche (about 1 second) and BNB Chain (around 1.1 seconds). For comparison, Ethereum’s finality takes 13 minutes, while Bitcoin’s is approximately 1 hour.

**Market Note: $920M Oil Short Preceded Axios’ U.S.-Iran Deal Report** Analysis from research firm The Kobeissi Letter shows a ~$920 million crude oil short position was established roughly 70 minutes before Axios reported the U.S. and Iran were near a 14-point agreement to end tensions. The trade occurred at 3:40 AM EDT (15:40 Beijing time) — a window with no major breaking news — involving nearly 10,000 crude oil short contracts. Its nominal value made it an unusually large transaction for that early hour. Seventy minutes later, at 4:50 AM EDT (16:40 Beijing time), Axios confirmed the U.S. was “close” to a memorandum of understanding (MOU) to de-escalate the Iran situation. By 7:00 AM EDT (19:00 Beijing time), oil prices had plummeted more than 12%, leaving the short position with a paper profit of ~$125 million, per FXStreet.

On May 6, Polymarket data shows the probability that Strategy will sell any amount of Bitcoin by year-end has jumped sharply to 49%—up from just 12% on May 5. Additionally, the odds of any Bitcoin sales by May 31, 2026, stand at 17%, while the figure rises to 26% for June 30, 2026. This shift follows Strategy founder Michael Saylor departing from his longstanding "never sell" stance for the first time. During the company’s Q1 2026 earnings call, he noted the possibility of offloading a portion of its Bitcoin holdings to fund dividends, saying: “We might sell some Bitcoin to pay dividends, with the aim of market desensitization and signaling that we have indeed done so.”

On May 7, Onchain Lens data shows a freshly created wallet withdrew 349,999 HYPE tokens from Coinbase over the past 24 hours (valued at roughly $15.21 million) and has since staked the tokens.

On May 6, advisory firm SOC Investment Group called on the U.S. Securities and Exchange Commission (SEC) to investigate SpaceX’s financial health ahead of its planned initial public offering (IPO), which could value the company at over $2 trillion. The firm expressed concern over SpaceX’s ties to other companies owned by Elon Musk. Per a May 6 letter sent to the SEC, SOC asked the regulator to review the accuracy and reliability of SpaceX’s financial disclosures and confirm the independence of its audit firm. SOC also pushed the SEC to examine how SpaceX accounts for transactions with Musk’s other companies. In the letter, the firm noted: “We are particularly concerned that SpaceX’s IPO will expose a broad set of investors to a company whose value could drop once its financial disclosures are independently reviewed and verified.” (Jinse)