US Stock Futures Dive Further

On May 4th, crypto whale “Sets 10 Big Goals First” (@Jason60704294) shared a trading screenshot on social media, revealing they’d successfully opened a long position using 46.1 BTC at $78,848.05—valued at roughly $3.63 million.

On May 4, artificial intelligence chipmaker Cerebras Systems officially launched its initial public offering (IPO), aiming to raise up to $3.5 billion. Per documents filed with the U.S. Securities and Exchange Commission (SEC), the company plans to offer 28 million shares at a price range of $115 to $125 each, trade under the ticker symbol “CBRS,” and list on the Nasdaq. This marks Cerebras’ second IPO attempt—after withdrawing its listing application in October 2023. Financially, the firm has returned to profitability: it projects 2025 revenue of $5.1 billion (a roughly 76% year-over-year increase) and earnings per share (EPS) of $1.38, compared to a $9.90 per-share loss in the prior year. The market is now focused on how the IPO will validate the company’s targeted valuation of around $40 billion. Underwriters include Morgan Stanley, Citi, Barclays, and UBS.

On May 4, energy infrastructure platform Hut 8 Corp. announced its subsidiary has entered into a 364-day, $200 million Bitcoin-backed credit facility with FalconX—replacing its existing credit line with Coinbase. Hut 8 CEO Asher Genoot said the move aims to cut capital costs, reduce risk, and boost strategic flexibility. FalconX’s Credit Lead Craig Birchall noted Hut 8’s diversified revenue streams and track record operating through multiple market cycles make it a rare top-tier institutional borrower.

May 4 (CCTV News) — Two informed sources said Friday that Iran has prepared for various scenarios in the Strait of Hormuz. “In addition to firing on U.S. warships, Iran has other plans and will take action if necessary,” the sources noted.

May 4th: On-chain analyst Ai Auntie (@ai_9684xtpa) reports that whale trader "Setting 10 Big Goals First" (@Jason60704294) opened a Bitcoin short position at $79,903.19, selling 2,448.2 BTC worth roughly $195 million. The position currently has an unrealized profit of $2.463 million.

May 4th (CJN) — U.S. Central Command announced the U.S. military is supporting the "Freedom of Navigation" initiative and imposing a naval blockade on Iranian ports.