X launches 'Active Fans' feature, allowing users to view the real-time active user count in the last 24 hours

On May 19, a U.S. jury dismissed Elon Musk’s $150 billion lawsuit against OpenAI. The jury took less than two hours to rule the case exceeded the statute of limitations, and a judge subsequently formally dismissed the case. This ruling removes a key hurdle for OpenAI’s initial public offering (IPO), with reports indicating the company could go public as early as this year; OpenAI is currently valued at $730 billion. Despite this win, OpenAI still faces multiple challenges: fierce competition from AI giants such as Anthropic and Google, plus significant risks including copyright infringement, lawsuits related to AI errors that could result in fatalities, and other legal disputes. Musk’s side has stated it will appeal the decision. The lawsuit was first filed in 2024, when Musk alleged OpenAI CEO Sam Altman and others violated OpenAI’s original founding intent by prioritizing commercial interests over the public good. Musk co-founded OpenAI in 2015 but later left the company due to int

May 19th — Federal Reserve Chairman Kevin Wash takes over from Powell this Friday, and Wall Street is bracing for another volatile stretch. The trigger? The 96-year-old “Fed Curse”: every time a new Fed chief assumes office, the stock market posts an average pullback of 12% in 3 months and 16% in 6 months. As a hardline inflation hawk, Wash signals a sharp shift toward tighter monetary policy, and investors are already repricing the market’s systemic risks. Barclays Bank’s statistics back this trend, and it has held steady without fail since 1930: within one month of a new chairman taking the reins, the S&P 500 averages a 5% decline; 12% in 3 months; 16% in 6 months. When a new Fed chief starts, interest rate policies, inflation tolerance levels, and the pace of monetary tightening or easing all get rewritten. Markets demand a risk premium for that uncertainty. Wash’s hawkish stance is no secret: he plans to overhaul the Fed’s 15-year-old dot plot and forward guidance framework, upend

May 19th — According to monitoring from Hyperinsight (via its Telegram channel @HyperInsight), HYPE has seen a recent price surge, pushing the token to $48 this morning. The rally has spurred multiple addresses on Hyperliquid to place batch buy orders using TWAP (Time-Weighted Average Price) strategies to capitalize on the upward momentum. As of press time, pending orders include five large wallets (“whales”) each planning to purchase over 10,000 HYPE spot coins, totaling more than 96,900 HYPE (approximately $4.65 million). Some of these orders have already been partially filled. Moving forward, the TWAP-driven net buying pressure for HYPE is projected to reach $2.8 million over the next 24 hours.

May 19 — Arbitrum-based DeFi perpetual contract trading platform Ostium has become the first to integrate Nasdaq’s official data feed, launching on-chain perpetual contracts for individual U.S. stocks. Users can trade these stock-linked contracts directly via their crypto wallets, gaining access to a 24/7 market with no traditional trading hour limits. Ostium noted longstanding flaws in the traditional U.S. stock market: regional restrictions, steep brokerage entry thresholds, and slow settlement processes. The platform’s on-chain offering, by contrast, brings transparency, self-custody capabilities, and instant settlements. The Nasdaq partnership will also infuse its stock perpetual contracts with institutional-grade official market data, the company added. Since launching in 2024, Ostium has notched over $50 billion in cumulative trading volume and attracted more than 26,000 users. Its current contract open interest stands at roughly $91.6 million, per platform data. The on-chain

May 19th data shows that trade.xyz’s Pre-IPO trading segment notched $26.28 million in 24-hour trading volume for SpaceX (ticker: SPCX), with a total value locked (TVL) of $31.48 million. SPCX is currently priced at $202.8, translating to a market capitalization of $2.406 trillion. When SPCX first launched on trade.xyz, it opened at $150 per unit. At that initial offering, its fully diluted market cap hit $1.78 trillion, based on a fully diluted share count of 11.87 billion. Earlier reports confirm that trade.xyz rolled out SpaceX trading under the SPCX ticker at 7:00 AM Beijing time on May 18th.

On May 19, multiple funeral prepayment service companies in South Korea were exposed as insolvent, with some even misappropriating customer funds to invest in cryptocurrency-related assets. A probe found that among the country’s 75 funeral prepayment firms, 32 held total assets worth less than the prepayment funds they received from clients, accounting for 42.7% of the total. Among these companies, the industry’s seventh-ranked firm, Parent’s Love, invested 59.5 billion South Korean won in Bitmine double-leveraged ETF, an Ethereum-themed stock. However, due to the cryptocurrency market crash, its book value plummeted to 10.2 billion won by the end of last year, resulting in a massive unrealized loss of 49.3 billion won—approximately $33 million. The report highlighted that South Korean law categorizes the funeral prepayment industry as a “prepayment installment transaction business” rather than a financial institution. As a result, the sector is not bound by strict financial regulati