An Whale Investor Longs $271 Million in ETH, Facing a Massive Unrealized Loss of $27.92 Million

May 23 — Ahead of the China Securities Regulatory Commission (CSRC) announcing plans to impose administrative penalties on cross-border internet brokers Futu and Tiger Brokers on May 22, unusual trading volumes in American stock put options tied to the two firms were spotted on May 7, 19, and 21, per data from public options platforms and market intelligence sources. Peak trading volumes occurred before the official announcement, as financial news outlet StreetInsider flagged abnormal put options activity in FUTU and TIGR at 9:57 a.m. Eastern Time (ET) on May 21. Analytics firm ThetaOwl further reported that Futu’s options expiring on May 22 had a notably high put-to-call volume ratio that same day. Market observers say these trading anomalies suggest funds likely positioned themselves for bearish (short) bets ahead of the news going public, sparking concerns over potential insider trading or premeditated, ahead-of-disclosure trades.

May 23 — The People’s Procuratorate of Cangshan District in Fuzhou, Fujian Province, China, has filed a public prosecution in a Bitcoin theft and illegal profit case. The incident began in late 2020, when Wang entrusted Lin to cash out his Bitcoin holdings, agreeing to pay Lin a commission upon successful completion. But Lin, driven by greed and the mindset that virtual assets are hard to trace, devised a scheme to steal from Wang. With access to Wang’s Bitcoin wallet hard drive and laptop, Lin stole the wallet’s private key and related data, transferring four Bitcoins to his own account and netting roughly 900,000 yuan in illegal gains. Wang only discovered his missing Bitcoin in 2024 while reviewing his assets and immediately filed a police report. Prosecutors with Cangshan District explained that though Bitcoin does not hold the legal status of fiat currency, and financial institutions and non-bank payment providers are prohibited from offering services for cryptocurrency-related a

On May 23, crypto journalist Eleanor Terrett reported that a last-minute impasse over border security has pushed the U.S. Senate’s vote on the CLARITY Act—officially the Cryptocurrency Market Structure Bill—back to early June. The legislation was slated to move to the Senate floor this week, but partisan disputes over border control scrapped those plans. With a packed legislative calendar including funding bills, housing policy, farm measures, and expiring FISA reauthorizations taking precedence, there’s rising uncertainty about whether the CLARITY Act will even reach the Senate floor by July, let alone clear a vote before Congress’s August recess. Senate staffers are currently working during the recess to merge draft texts from the Agriculture and Banking Committees and finalize technical drafting for the bill. For a full breakdown of the CLARITY Act’s upcoming legislative path, see ["Boss Fight for the CLARITY Act: 7 Democratic Senators Needed to Defect Before Senate Floor Vote"](htt

F2Pool co-founder Wang Chun has outlined why he chose Mars as the destination for SpaceX’s first interstellar manned flight—rather than the Moon—in a recent May 23rd discussion. Wang noted that humans will likely reach the Moon soon, even without private sector investment in lunar travel, thanks to intensifying global space competition that’s driving governments to build lunar bases. He added he’s happy to see that progression unfold. At the same time, Wang expressed uncertainty about whether Mars exploration will advance meaningfully during his lifetime, arguing action is needed to avoid delaying it to the next generation. His solution: purchasing a Mars flyby mission slot for SpaceX would give the company another key incentive to keep Mars on its agenda. Yesterday, SpaceX made official that Wang will serve as mission commander for the firm’s first interstellar manned flight: a two-year journey that will first explore space beyond the Earth-Moon system, then fly past Mars before re

On May 23, monitoring from HyperInsight (available at https://t.me/HyperInsight) reveals that Ethereum whale Huang Libo has closed most of his Ethereum long positions, leading to another partial liquidation. The whale still holds 1,700 ETH in long positions, with only $23 standing between its holdings and the next liquidation threshold, bringing total losses to nearly $33 million.

On May 23, per monitoring from HyperInsight (@HyperInsight), on-chain whale loracle.hl (@loraclexyz) successfully flipped its $20 million 20x short position in Bitcoin (BTC) from a loss to profit. The position was entered at $75,029.5, generating an approximate floating profit of $170,000. Separately, the trader’s $100 million short position in HYPE remains underwater, with an entry price of $45.2562 and a current floating loss of $18.6 million.