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BlockBeats News, May 16th, according to Coinglass data, in the past 24 hours, the total value of liquidations across the entire network was $441 million, with $385 million in long liquidations and $55.96 million in short liquidations.In the last 24 hours, a total of 128,021 people were liquidated globally, with the largest single liquidation taking place on Binance - ETHUSDT worth $5.7259 million.

BlockBeats News, May 16th, according to GMGN monitoring, the Base ecosystem token GITLAWB briefly exceeded a $34 million market cap, hitting a new all-time high, and is currently valued at $32.05 million, with a 24-hour price increase of 56.32%. Meanwhile, the on-chain trading volume during the same period was approximately $3.4 million.GitLawb (GITLAWB) is a decentralized code collaboration platform designed for human developers and AI agents. It offers a Git-like workflow but is fully decentralized and does not require account registration.

BlockBeats News, May 16th. Following a $292 million loss due to an attack on KelpDAO, the industry's scrutiny of cross-chain infrastructure security continues to intensify. Around $4 billion in assets have been or are in the process of migrating from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). The DeFi protocol Lombard is the latest project to join this migration trend. The protocol announced its decision to deprecate LayerZero and migrate over $1 billion worth of Bitcoin-backed assets to Chainlink's CCIP, citing a comprehensive internal security review conducted after the April attack.Lombard issues two Bitcoin-backed tokens—LBTC and BTC.b—and will prioritize asset migration on chains such as Solana, Etherlink, Berachain, Corn, and TAC, while ceasing the use of LayerZero on Morph and Swell. Lombard stated that the reason for choosing CCIP is its independent node operators, built-in throttling mechanisms, and audited infrastructure. Furthermore, the protocol will adopt Chainlink's cross-chain token standard, facilitating asset interoperability through a burn-and-mint model.Previously, Kelp DAO, Solv Protocol, Re, and the cryptocurrency exchange Kraken have all completed similar migrations, totaling approximately $40 billion in asset transfers. Johann Eid, Chief Business Officer of Chainlink Labs, stated: "We are witnessing a continued wave of hedging migrations within the industry."

BlockBeats News, May 16th, Grayscale's Director of Research Zach Pandl wrote that against the backdrop of rekindled US inflation, the Federal Reserve may maintain a high interest rate policy in the long term, impacting the crypto market in three core aspects. He believes that with the US CPI approaching 4%, the newly appointed Fed Chair Kevin Warsh has little room to cut rates, and the market now expects the first rate cut to be delayed until September 2027.Grayscale pointed out that a long-term high interest rate will create pressure on "currency debasement trades" such as Bitcoin. Since Bitcoin, like gold, is an interest-free asset, higher real interest rates will increase the opportunity cost of holding US dollar assets. However, it remains optimistic about Bitcoin's long-term prospects and believes that regulatory positives such as the "CLARITY Act" can partially offset the related pressure.Furthermore, it believes that a high-interest-rate environment will accelerate the tokenization of fixed-income assets. The current yield on USD fixed-income products is higher than most DeFi yields, for example, the USDC borrowing rate on Aave is about 3.6%, while the short-term corporate bond yield is around 4.5%. Grayscale also stated that stablecoin issuers will benefit from high-interest rates. Due to the "GENIUS Act" prohibiting stablecoins from paying interest to users, issuers can retain reserve asset income. It estimates that for every 25 basis points increase in short-term rates, Circle's revenue will increase by approximately $190 million.

BlockBeats News, May 16th, OpenSea's Chief Marketing Officer Adam Hollander stated that the next wave of the NFT trend may be driven by tokenized assets such as Pokémon cards, Rolex watches, digital tickets, and in-game items, rather than the speculative frenzy dominated by avatar NFTs from 2021 to 2022. NFTs as a technology for proving ownership of digital and real-world assets remain valid, but the market was previously excessively driven by speculative trading.Hollander believes that advances in AI technology are lowering the barriers to creating digital art, animation, games, and on-chain assets, which may further drive NFT adoption in the future. He also revealed that OpenSea is currently working on building a unified asset management platform to support users in managing NFTs and crypto assets across wallets and chains, simplify the user onboarding process, introduce a fiat payment experience similar to Apple Pay, and display tokenized assets priced in dollars.Regarding the market's attention on the SEA token listing, Hollander stated that if the token is only seen as a "post-launch forgotten meme coin," it will not truly create value; therefore, OpenSea is more focused on establishing a sustainable business model.

BlockBeats News, May 16th, OpenAI announced the launch of the ChatGPT Personal Finance feature preview, currently available to Pro users in the United States. Users can link financial accounts such as banks, investments, and loans in ChatGPT, and view information such as expenses, investment performance, subscriptions, and upcoming payments through a financial dashboard.OpenAI stated that the feature supports over 12,000 financial institutions, currently providing account connectivity through Plaid, with Intuit support planned for the future. Users can also provide personal financial background information to ChatGPT, such as car purchase plans, mortgage or loan situations, and relevant content can be saved in "Financial memories" for future conversations.Officially, leveraging the reasoning capabilities of GPT-5.5, ChatGPT can assist users in budget planning, investment risk analysis, consumption pattern analysis, and long-term financial goal planning, but it does not constitute professional financial advice. The feature has currently been previewed on the web version and iOS, with OpenAI stating that it will gradually expand to Plus users based on user feedback.

BlockBeats News, May 15th, HyperEVM-native non-custodial lending protocol HypurrFi announced that it will gradually cease its branding operations and transfer the Euler-based Mewler lending market infrastructure on HyperEVM to Euler for maintenance and operation. HypurrFi stated that all markets currently remain solvent and operational, with no security vulnerabilities or protocol attacks. User deposits, collateral, and positions are all safe and intact. Clearstar Labs will continue to serve as the risk curator for the Prime, Yield, and Earn treasuries.The announcement stated that the HypurrFi Pooled market will enter a phased shutdown period lasting from weeks to months. New borrowing has been temporarily suspended, and borrowing limits will be gradually reduced to facilitate user repayment migration. The USDXL rate has been increased to 30% to incentivize borrowers to repay their debts early. In addition, HypurrFi has launched migration tools to help users migrate their positions to the Euler Prime and Yield markets. It noted that future Hyperliquid support will be gradually integrated into the Euler official UI.HypurrFi emphasized that this adjustment is part of a proactive operational decision, not a security incident or emergency. The Legacy and Pooled markets are expected to complete their shutdown and liquidation by July 15, 2026.

BlockBeats News, May 15th, the Hyperliquid lobbying organization Hyperliquid Policy Center published a statement stating that Bloomberg reported today that some traditional trading platforms have expressed concerns about the integrity and impact of the Hyperliquid perpetual contract market, but these concerns are "unfounded." It stated that Hyperliquid provides greater market transparency, with all trades being instantly recorded on-chain publicly. Therefore, it serves as a natural deterrent to insider trading or price manipulation, and is also more conducive for regulatory agencies and law enforcement to monitor, detect, and investigate.The Hyperliquid Policy Center also stated that Hyperliquid offers a 24/7 continuous trading mechanism, which can improve market efficiency. It believes that asset prices will not stop fluctuating due to traditional exchange closures, and continuous trading helps to enhance the price discovery mechanism. It also acknowledged that Bloomberg correctly pointed out that current U.S. laws have not established a specific regulatory framework for public chain derivative markets like Hyperliquid, and expressed its anticipation to continue cooperating with Washington policymakers to integrate on-chain markets into the regulatory framework.Previously, according to Bloomberg, CME and NYSE are pushing U.S. regulatory agencies to regulate Hyperliquid, citing concerns about market manipulation and sanctions evasion.

BlockBeats News, May 15, KelpDAO announced that the sETH protocol has fully resumed normal operation. The rsETH exchange rate was updated today at 16:45 (CET) and includes all accumulated staking rewards generated during the suspension period. Additionally, EIGEN rewards are now open for distribution to rsETH holders, covering the entire suspension period.Furthermore, the protocol's deposit and withdrawal functions have resumed on the mainnet and L2 network, and the rsETH asset support status has been restored to 100% backing. Currently, rsETH is now fully supported on the mainnet and L2 network, with all operational processes back to normal.

BlockBeats News, May 15th, according to Onchain Lens monitoring, the whale loracle.hl (@loraclexyz) increased their position by 122,305 HYPE tokens (about $5.4 million) in a short.Currently, they hold a total of 1.36 million HYPE in short positions, valued at around $59.9 million, with a liquidation price of $61.71.

BlockBeats News, May 15th - Several analysts pointed out that Ethereum faces downside risks, with ETH potentially dropping another 20% to the $1,700 range. The main pressure sources are increased exchange reserves and declining ETF demand. CryptoQuant analyst BorisD noted that from May 5th to 9th, the ETH reserves on Binance surged from 3.36 million to 3.84 million, while the price dropped by 7% from $2,390 to $2,260. He stated, "This indicates that liquidity is being both absorbed and distributed. The overall structure still points to a prevailing downside risk." Another analyst, PelinayPA, shares the same view, believing that any short-term rebound will be "accompanied by high volatility, followed by a more extensive downtrend," adding, "A significant amount of ETH continues to flow into exchanges, forming a significant resistance to price increases."On May 13th, the net inflow of ETH to exchanges surged to 585,000 coins, marking the largest single-day inflow since December 2025—when the price of ETH was around $3,000. The price then dropped to $1,750 in February this year, a 42% decrease. Such large-scale inflows usually indicate that whales are offloading. Meanwhile, the demand for spot Ethereum ETFs has continued to weaken, with four consecutive days of net outflows totaling $190 million.Technically, the ETH daily chart shows that the rising wedge pattern has broken below the lower support level of $2,280. If the daily closing price confirms the breakdown, the target will point to the wedge's measured target of $1,725, a 22% drop from the current price, aligning with the macro low point on February 6th of this year. Analyst ShangoTrades stated that this breakdown is "starting to become worrisome." Taking a longer-term view, analyst CryptoBullGod pointed out that the bear flag pattern on the ETH weekly chart has a measured target of $1,280.

BlockBeats News, May 15th, according to on-chain analyst Ai (@ai_9684xtpa), address 0x519…96a47 has now 10x shorted 300,000 HYPE tokens, worth $13.2 million, with an average entry price of $43.398, currently unrealized loss of $187,000.An hour and a half ago, the user topped up 8,825,000 USDC as collateral on Hyperliquid, with a historical cumulative profit of $5.965 million.

BlockBeats News, May 15th, THORChain issued an announcement confirming an attack on an Asgard vault, and trading has been halted. Preliminary indications show that user funds are safe, with only the protocol's own funds affected. THORChain stated that the network automatically detected abnormal behavior and paused signing activities to prevent further fund outflows. The current estimated loss is approximately $10.7 million.The announcement stated that out of the 6 Asgard vaults, one is suspected to have been breached, and related nodes have triggered the RUNE slash mechanism due to unauthorized transfers. The network has currently paused Churn activities, and new inbound links and related operations will be delayed until the investigation and fixes are completed.THORChain indicated that initial investigations show that user swaps were not affected, and all node operators have been instructed to immediately check their infrastructure, key management systems, and operational environments for any anomalies.

BlockBeats News, May 15th. The U.S. Senate Banking Committee passed the "CLARITY Act" on May 14th, and the bill is now set to be considered by the full Senate. The voting results mostly followed party lines — all 13 Republican committee members voted in favor, while among the 11 Democratic members, only Ruben Gallego and Angela Alsobrooks voted in support. Committee Chair Tim Scott characterized this vote as a "success of bipartisanship," but Democratic Senator Jack Reed objected, stating that Republicans arbitrarily dismissed Democratic concerns — including issues related to cryptocurrency-enabled crime and the President's personal enrichment through cryptocurrency projects. The Democratic minority later issued a statement pointing out that the current version failed to adopt global anti-money laundering standards, exempt DeFi protocols from financial regulation, and did not address regulatory gaps concerning cryptocurrency mixing services.In order for the Senate to pass the "CLARITY Act," Republicans would need to secure 60 votes, requiring at least 7 Democratic senators to cross party lines in support. Tim Scott had previously indicated that 12 Democrats were open to the market structure bill, but with the current deepening partisan divide, the viability of this assessment remains uncertain. The Congressional Progressive Caucus has announced opposition to any legislation that could allow the Trump family to profit from cryptocurrency.The debate over ethical clauses also extends to the stablecoin yield issue. The committee's final version prohibits stablecoins from paying interest, aligning with the banking industry's stance; however, it still allows cryptocurrency platforms to offer behavior-based rewards. Anonymous trader 10 Delta commented that the yield "ban" is merely a "token gesture," merely a PR victory for banks, with limited actual impact. The cryptocurrency industry, overall, is optimistic about the outcome of this committee review. Alexander Lorenzo, founder of CoinPicks Capital, pointed out that after the "GENIUS Act" passed through the same process last July, Bitcoin hit a historic high of $123,000 within weeks; whereas the "CLARITY Act" has a broader scope, covering the entire cryptocurrency market rather than just stablecoins.

BlockBeats News, May 15: The turmoil in the U.S. bond market triggered a sell-off in risk assets, causing Bitcoin to drop by 3% on the same day, breaking below $80,000 and hitting a new low since May. The stock market also retraced its previous gains. The trading information account The Kobeissi Letter pointed out that the market's previous "euphoric sentiment" is fading, and the U.S. bond yields have risen to unsustainable levels. The account wrote, "The U.S. 10-year Treasury yield has officially broken through 4.55%, the first time since May 2025. The bond market crisis is intensifying, and the current situation is unsustainable." Kobeissi also noted that the current yield has exceeded the level when Trump suspended tariffs on China in April 2025 due to the bond market crash, and added, "The market currently expects a probability of over 60% for the Fed's next move to be a rate hike, with rate cut expectations being completely ruled out. We expect mortgage rates to surpass 7%, inflation to make a comeback, and higher rates to follow." The latest data from the CME FedWatch tool shows that a 25 basis point rate hike by March 2027 is currently the most probable scenario.Regarding Bitcoin's trend, analyst Eric Coleman stated that the current price action in the short-term time frame is as expected — Bitcoin rebounded at a horizontal support level but was once again suppressed by a trendline and horizontal resistance. "The price is expected to continue fluctuating between horizontal support and resistance until a valid breakout or breakdown occurs." Trader Pat also pointed out that Bitcoin fully retraced the previous day's gains, which is "not a good sign," with the intraday downside target now extended to the mid-range around $70,000.

BlockBeats News, May 15th, the parent company of the cryptocurrency exchange Kraken, Payward, is reportedly laying off about 150 employees as part of an optimization adjustment process to prepare for its upcoming IPO, according to two sources familiar with the matter. A Kraken spokesperson stated in a release: "We continue to assess and adjust the organizational structure to ensure we have the right setup and talent to achieve growth goals and better serve customers."Meanwhile, Payward is seeking a new round of funding at a $20 billion valuation to support its pre-listing expansion strategy. Recently, the company has completed the $600 million acquisition of the stablecoin payment company Reap and the $550 million acquisition of the digital asset derivatives platform Bitnomial. The largest previous acquisition occurred in 2025 when Payward acquired the U.S. retail futures platform NinjaTrader for $15 billion, which holds a CFTC futures broker license.On November 19, 2025, Payward secretly submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), taking the initial steps towards going public. In March of this year, CoinDesk reported that the company had postponed its IPO plans due to the tough market conditions, but sources say that once market conditions improve, the company still plans to move forward with the listing. At the Consensus Miami conference, Payward and Kraken's co-CEO Arjun Sethi stated that the exchange is "80%" ready for listing.

BlockBeats News, May 15th. Beyond inflation, the global market is being shaped by another powerful storyline: capital continues to chase the "AI growth narrative" and the "institutionalization of crypto" in parallel. In US equities, Nvidia, Google, and Apple have continued to print fresh all-time highs, while AI chipmaker Cerebras saw shares surge more than 70% intraday on its first day of trading — clear evidence that capital is still aggressively pursuing AI infrastructure and inference-compute themes.At the same time, the US-China summit is beginning to reshape risk sentiment. During talks between Presidents Trump and Xi, markets started to price a limited easing of the tech supply chain — particularly after partial signs of softening in US restrictions on Nvidia's chip sales to China, which further lifted sentiment in semiconductors and AI-linked names. This signals that the dominant axis of global markets is gradually rotating away from rate-cycle trades toward AI, tech supply chains, and geopolitical realignment.Crypto, meanwhile, is being driven by its own pivotal storyline. The CLARITY Act formally cleared the Senate Banking Committee — widely regarded as one of the most important pieces of US crypto market structure legislation in recent years. Markets are now pricing in regulatory clarity ahead of the formal text: Coinbase and other crypto-linked equities rallied in tandem, while BTC rebounded back toward roughly $82,000.On BTC's liquidation heatmap, substantial short liquidity remains clustered between $82,400 and $82,600, while the $80,000 area is now forming the primary short-term bid zone. The market has clearly entered a high-leverage range-bound regime — capital is positioning and waiting for clearer direction from any one of the three resonating threads: AI, US-China relations, and crypto regulation.

BlockBeats News, May 15th - In response to a user suggesting that he should join the cryptocurrency circle, Luo Yonghao said, "If I were shameless, I would have done an ICO rug pull in 2018 and bought a small island for retirement long ago. At that time, so many scammers came to me, saying that I didn't even need to endorse a project, just needed to stay silent and deny publicly, and they would give me this and that amount. I've mentioned this before in interviews with the media."