Cluster Protocol Completes $5 Million Funding Round, Led by DAO5

Bitwise sold another 117,917 $HYPE ($7.05M) today.

Costs to insure against Nvidia debt defaults hit a record high on Monday, as markets fret that its ongoing over $750 billion AI infrastructure deal could expand the company’s liabilities. ICE Data Services data shows Nvidia’s 5-year credit default swap (CDS) price climbed 14 basis points at one point to 82 basis points annually, marking the largest single-day jump for the swap since it began active trading last November. Last week, Nvidia announced its partnership with SK Group, parent of SK Hynix, tops $500 billion. Separately, Nvidia is in talks to provide up to $250 billion in guarantees for U.S. data center computing power projects leased by OpenAI, and may offer $350 billion in financing for OpenAI’s chip purchases. Sal Naro, chief investment officer at Coherence Credit Strategies, pointed out that AI infrastructure construction requires massive capital expenditure, and the bond market is facing a large volume of new supply. Markets are wary that opaque financing structures, off-balance-sheet transactions, and inter-corporate ties could trigger credit rating downgrades. Such financing typically demands investment-grade ratings, but firms like OpenAI and Anthropic are currently burning through cash at a rapid pace. Guarantees from large corporations can help AI infrastructure debt secure higher ratings; Broadcom previously provided most of the credit backing for a $35 billion chip financing deal for Anthropic.

According to Lookonchain's monitoring, Bitwise sold another 117,917 HYPE tokens today, worth approximately $7.05 million.

According to an official announcement, Bitget has launched USDT-margined AEON perpetual contracts, supporting a maximum leverage of 20x. Contract trading bots will be rolled out simultaneously. For more details, please refer to Bitget’s official platform.

According to Hyperinsight monitoring, at 7 AM Beijing time today, SKHX on Hyperliquid plunged rapidly from $1,128.2 to $927. The price spike occurred during thin liquidity hours ahead of South Korea’s NXT trading session; extreme trade quotes were transmitted via oracles to mark prices, triggering a chain of liquidations. Over the past four hours, total SKHX liquidations across the network reached approximately $79.398 million, with long positions topping the liquidation leaderboard. Meanwhile, open interest (OI) for SKHX on Hyperliquid dropped from 410,700 contracts yesterday afternoon to 353,600, a decrease of about 57,100 contracts (13.9%). Calculated at mark prices, the notional position value fell from roughly $508 million to $388 million, a shrinkage of 23.5%. Trading volume expanded passively alongside the flash crash: SKHX’s 24-hour trading volume has hit $901 million, about 2.3 times its current notional OI, indicating a large number of positions were forcibly liquidated or changed hands rapidly during the spike and subsequent rebound. Hyperinsight’s review shows: - Address starting with 0x2ba: Hit by three consecutive forced liquidations, totaling 6,418 SKHX contracts worth ~$6.166 million, with a recorded loss of ~$1.368 million. - Address starting with 0xef8: Reduced positions at market price by ~$910,100; the remaining $3.7418 million position was taken over by the system, with total liquidation size of ~$4.651 million and a loss of ~$1.3133 million. - Address starting with 0x320: Subject to four consecutive forced liquidations, totaling 4,230 contracts worth ~$3.957 million, with a recorded loss of ~$2.045 million (the largest loss among all addresses). The top three addresses on the liquidation leaderboard combined for ~$14.7754 million in liquidations, with total losses of ~$4.7281 million. Earlier news noted that the SKHX flash crash breached Hyperliquid’s backup liquidator, forcing over $26 million in liquidations.

According to Bitget market data, Hong Kong-listed large language model stocks saw broad declines. Zhipu (02513.HK) fell over 17%, while MINIMAX-W (00100.HK) dropped more than 8%.