Affected by the weakness in the US stock market, Bitcoin briefly drops below $75,000
May 27th — According to HTX market data, Bitcoin dropped sharply after the U.S. stock market opened, briefly dipping below $75,000. It is currently trading at $75,095.09, marking a 1.84% decrease over the past 24 hours.
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US Stocks Open Higher But Retreat, Micron Jumps 6.6% Before Quickly Falling Back, Serenity Fund's Top Holding SIVE Drops Over 10%
May 27: U.S. stocks opened higher, per Bitget market data. The three major indexes posted gains: the Dow rose 0.18%, the S&P 500 added 0.07%, and the Nasdaq gained 0.17%.
Following yesterday’s sharp rally, Micron Technology opened higher again—surging 6.6% at the open before pulling back, and is now up 2.9%. Most stocks held by Serenity opened lower: AAOI slipped 1.8%, while Serenity’s core heavy holding SIVE opened with a drop of over 10%.
Cryptocurrency-related stocks fell across the board: CRCL opened down 0.8%, and MSTR opened 2.98% lower.
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Mastercard Obtains New York BitLicense, Will Advance Stablecoin and Digital Payment Infrastructure Deployment
On May 27, Mastercard announced that its subsidiary Mastercard Transaction Services (U.S.) LLC has secured a BitLicense from the New York State Department of Financial Services (NYDFS), granting it permission to conduct digital asset activities in New York. The global payment giant said the license will support its efforts advancing stablecoins, tokenized deposits, and blockchain-based payment and settlement infrastructure. (CoinDesk)
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Forbes: Hyperliquid Launches SpaceX Evergreen Contract, Sparking Regulatory Grey Area Dispute
On May 27, decentralized derivatives platform Hyperliquid launched a SpaceX pre-IPO perpetual contract (SPCX-USDC) on Trade.xyz, triggering global controversy over its placement in a regulatory gray area. The contract allows leveraged trading without requiring users to hold any SpaceX stock or obtain official authorization from the company itself. It debuted at an initial price of $150, translating to an implied valuation of roughly $1.78 trillion, and spiked to $216 shortly after launch. The contract settles in USDC, with its price pulled from a market oracle and not linked to SpaceX’s actual financials or equity structure. Notably, SpaceX has neither endorsed nor participated in this market, yet its valuation is now being actively priced and traded on-chain—fueling debate over whether private company price discovery is being overtaken by decentralized derivatives. Originating from Hyperliquid’s HIP-3 mechanism, this market illustrates a potential shift toward on-chain repricing of pr
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DDC Enterprise Increases Bitcoin Holdings, Reaching a Total of 2,714 BTC
On May 27, Bitcoin treasury firm DDC Enterprise announced it purchased 131 Bitcoin, pushing its total holdings to 2,714 BTC. The average purchase price for Bitcoin is currently $79,135, while the year-to-date return on the firm’s Bitcoin investment stands at 43.5%.
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Polymarket is considering requiring traders to undergo KYC to address sanctions and legal risks
A May 27th report states that prediction market platform Polymarket is under mounting regulatory and sanctions compliance pressure, prompting the platform to push for mandatory Know Your Customer (KYC) verification for traders to mitigate potential legal and compliance risks.
According to the report, while Polymarket’s platform rules prohibit this kind of activity in certain regions, users still engage in trading via methods like automated trading bots, creating a gray area of usage in regions including Russia. Some developers have even been leveraging tools like Telegram to coordinate trading operations and expand their user bases.
As Polymarket has scaled its operations, regulatory oversight has also ramped up, forcing the platform to strike a balance between its decentralized prediction market model and global compliance obligations—aimed at addressing potential sanctions and legal vulnerabilities.
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