A certain whale shorted BTC with 40x leverage, with the liquidation price at $80,590.

**Coinbase Q1 2026 Earnings: 31% YoY Revenue Drop, $394M Net Loss (Exceeds Expectations)** On May 8, Coinbase released its first-quarter 2026 financial report: net revenue fell 31% year-over-year to $14 billion, while net loss hit approximately $394 million—far above market expectations. While the crypto market downturn is widely blamed, the company’s past-year moves had already signaled trouble for its performance. Key moves raising red flags: - **CEO’s $500M COIN Selloff**: Over the past year, Coinbase CEO Brian Armstrong sold roughly $500 million worth of COIN shares, with sale prices ranging from $176.58 to $398.20. - **$375M Echo Acquisition**: Bought on-chain financing platform Echo, but the service has a limited user base and faces scrutiny over Sybil attack risks. - **$25M NFT Podcast Flop**: Invested $25 million in NFT-focused podcast project UpOnly—no episodes have been released to date. - **$29B Deribit Buy**: Acquired derivatives platform Deribit for $29 billi

On May 8th, HyperInsight monitoring (via its Telegram channel @HyperInsight) reported that "Pal" Huang Lizheng was forced into a large-scale liquidation on March 26, leaving his account nearly empty. He then deposited $700,000 into Hyperliquid to add capital and open long positions in this round. As of press time, he has made a total cumulative deposit of $1.195 million into the platform. In just over a month, his position grew from millions to $55.8 million—but based on his current account balance of $1.6 million, the actual return rate for this round is approximately 33.3%, with a net profit of around $400,000. Reportedly, the address currently holds a $35.9 million long position in ETH and a $19.9 million long position in BTC, with an unrealized loss of $860,000 in the account. Address: 0x020ca66c30bec2c4fe3861a94e4db4a498a35872

On May 8th, Iran’s Fars News Agency reported that high-altitude imagery shows flights at Abu Dhabi and Dubai airports have been suspended. Earlier this morning, the United Arab Emirates (UAE) National Emergency Crisis and Disaster Management Authority announced that its air defense systems are currently responding to a missile threat.

On May 8, South Korea’s National Assembly passed an amendment to the Foreign Exchange Transactions Act during a plenary session. The update includes two key changes: 1. It introduces a new definition for “virtual asset cross-border transfer business,” requiring exchanges, custodians, and other entities offering overseas virtual asset transfer services to register with the Ministry of Economy and Finance. 2. It reorganizes the professional foreign exchange system and significantly stiffens penalties for violations—including up to one year in prison or a fine of up to 100 million South Korean Won.

**May 8th: Uniswap v4 Hook Tokens Surge, Rotate Rapidly on Ethereum Mainnet** Uniswap v4 hook-themed concept tokens have been popping up in droves on the Ethereum mainnet recently. - **Yesterday**: sato absorbed uPEG’s liquidity, with its market cap briefly topping $30 million before a sharp pullback. - **Today**: sat1 emerged as a standout, hitting $10 million in throughput quickly via an improved version of sato’s mechanism. Per GMGN market data (link: [https://gmgn.ai/eth/token/i_m4TE56o8_0x8f66337a0c2A02202fd91Dd596c411CF977c6060](https://gmgn.ai/eth/token/i_m4TE56o8_0x8f66337a0c2A02202fd91Dd596c411CF977c6060)) as of press time: - uPEG: $8.9M market cap, $4.3M 24h volume; peak cap $34.44M. - sato: $14.75M market cap, $17.6M 24h volume; peak cap $37.56M. - sat1: $8.4M market cap, $2.2M 24h volume. **BlockBeats Take**: The rapid rotation between uPEG, sato, and sat1 has stunted market synergy—making it hard for these projects’ caps to grow. Ethereum mainnet perf

May 8: Per Onchain Lens monitoring, an address tied to asset management firm Metalpha deposited $20M worth of ETH into Binance 30 minutes ago.