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Bitcoin bulls add macro narrative. Ray Dalio, founder of Bridgewater Associates, warns that the $39 trillion debt crisis in the U.S. could lead to a long-term devaluation or even collapse of the dollar, while JPMorgan analysts believe that the market is witnessing a rotation from gold to Bitcoin in the currency devaluation trade. Dalio states that the current annual spending in the U.S. is about $7 trillion, with revenues of only about $5 trillion, and that the long-term fiscal deficit and debt expansion are approaching historically dangerous levels. He believes that during similar periods, fiat currencies tend to continuously devalue, while gold benefits.Meanwhile, JPMorgan analyst Nikolaos Panigirtzoglou points out that as the conflict in Iran escalates, the inflow of funds into Bitcoin ETFs continues to exceed that of gold ETFs, with some funds viewing Bitcoin as digital gold and a hedge against dollar devaluation. Reports mention that since the outbreak of the U.S.-Iran conflict, the price of Bitcoin has risen by about 30%, although it is still below the historical high of $126,000 in 2025. Notable investors, including Stanley Druckenmiller and Elon Musk, have also recently expressed concerns about the long-term status of the dollar as a reserve currency.

Trump Media & Technology Group (TMTG) announced its Q1 2026 financial report, with a net loss of $405.9 million, of which unrealized losses from digital assets and equity securities amounted to $368.7 million, accounting for the vast majority of the total loss. According to CoinGecko data, TMTG's cryptocurrency asset portfolio is currently valued at $821.9 million, with a cost basis of $1.24 billion, resulting in an overall unrealized loss of approximately $423 million.The asset portfolio holds 9,542 BTC (valued at $767 million, average price $118,529) and 756 million CRO (valued at $54 million). In Q1, Bitcoin fell by about 22%, marking the worst quarterly performance since 2018. On the operational side, Truth Social generated only $900,000 in revenue, but operating cash flow reached $17.9 million, marking the fourth consecutive quarter of positive cash flow. The company's total assets reached $2.2 billion, nearly tripling from $759 million in the same period last year.

The silly dragon king responded to "weekly interest income of $500,000," and the Binance screenshot he released shows that the account earned a total of $125,000 in funding fees over the past 6 days.

According to monitoring by Hyperinsight, a whale using the Scalping strategy on Hyperliquid opened a 40x leveraged BTC short position for a short time, with a position size of $15.3 million, an average entry price of $80,600, a take-profit set at $80,100, and a stop-loss set at $80,700. This is the whale's third time this week attempting to profit from narrow price differences with a large position. Despite the position size often reaching tens of millions of dollars, the total net profit from multiple operations is only about $8,000, resulting in an overall account return rate of less than 2%. Address: 0x6572bc26edf54a74bef243eff10d3fbe6d461eb7.

Former Singapore Navy personnel Zhang Rongxuan (35 years old, phonetic) was sentenced to six years and ten months in prison after stealing 1.7 million Tether (nearly 2.3 million Singapore dollars) from a friend's cold wallet, which he spent on luxury watches, gambling, and paying off a mortgage.It is reported that Zhang Rongxuan was a member of the Naval Diving Unit at the time of the incident, holding the rank of captain. After getting to know the victim, he also co-managed a non-fungible token trading platform with friends, which is affiliated with Upstairs Research Pte Ltd and owned by DiGi Selection Holdings Pte Ltd. After security companies tracked the cryptocurrency wallet, Zhang Rongxuan admitted that he committed the crime due to suffering significant losses from the collapse of the FTX exchange.

Bitcoin mining company DMG Blockchain has established a new subsidiary, DMG Infrastructure, for future artificial intelligence/high-performance computing (AIHPC) business operations, and plans to drive its data centers towards AI/HPC business transformation.DMG Blockchain also disclosed that it mined a total of 21 BTC in April, down from 23 BTC in March. As of the end of April, it holds 389 BTC, a decrease of 9 BTC from the previous month, with a current hash rate of 1.54 EH/s, down from 1.63 EH/s in March.

According to market news, since December 2025, more than 12 cryptocurrency and fintech companies have applied for or obtained national trust bank licenses from the Office of the Comptroller of the Currency (OCC), including Coinbase, Ripple, Circle, BitGo, as well as Morgan Stanley and Fidelity Digital Assets.Kraken's parent company Payward has also submitted an application to establish Payward National Trust Company, which will provide bank-grade cryptocurrency custody and trust services for institutional and individual clients. The OCC's auditor stated that new entrants into the federal banking sector are beneficial for consumers, the banking industry, and the economy, and the OCC will continue to provide pathways for traditional and innovative financial services. The national trust bank license allows companies to manage assets under a single federal regulation, reducing reliance on external banking partners. However, most companies are still in the conditional approval stage, with only Anchorage Digital Bank being the sole fully operational national trust bank.Another major unresolved issue is access to the Federal Reserve's payment infrastructure. Federal Reserve governors have indicated they are exploring ways to simplify account structures, but no formal framework has been established yet.

Enterprise blockchain infrastructure Antier Solutions announced the completion of a $3 million financing round, led by GVFL. The new funds will be used to support the construction of secure transactions, verifiable workflows, and institutional-grade blockchain infrastructure, expand deployments in the government and financial institutions (BFSI) sector, and grow business in the United States, Middle East, and Asia-Pacific markets.

According to Ju.com market data, JU continues to strengthen, breaking through 5 USDT, currently reported at 5.01 USDT. Compared to the bottom price of 0.357 USDT at the end of February this year, JU has increased by over 1400%.

According to on-chain analyst Ai Yi's monitoring, F2Pool co-founder Wang Chun withdrew 7,461 ETH from Binance 5 hours ago, worth 17.27 million USD, and has since deposited it into Spark.

According to BBX data, this week the outflow channels of cryptocurrency infrastructure and the forward-looking financial reports of mining companies are advancing on two fronts, with the core dynamics as follows:Kraken (parent company Payward, Inc.) and the global payment network MoneyGram announced the establishment of a global strategic partnership through PR Newswire on May 5. Kraken users can withdraw cash exchanged for cryptocurrency in hundreds of fiat currencies at nearly 500,000 MoneyGram physical locations covering over 100 countries; initially focusing on cryptocurrency outflows, with plans to expand to local bank deposits and cross-border remittance flows; Kraken is responsible for customer identity verification, while MoneyGram provides licensed remittance services and compliance frameworks. Kraken co-CEO Arjun Sethi confirmed in an interview with Fortune that the company's IPO progress is "close to 80%," having previously submitted its confidential S-1 filing to the SEC. Bloomberg estimates the current valuation at approximately $13.3 billion based on a $200 million equity investment from Deutsche Börse.MARA Holdings, Inc. (NASDAQ: $MARA) officially announced on ir.mara.com on May 4 that its Q1 2026 financial report will be released after the market closes on May 11, with a conference call scheduled for 5:00 PM (ET); analyst consensus expects an EPS of approximately -$2.34 and revenue of about $184.2 million. As of the end of 2025, the company holds 53,822 BTC, with full-year revenue for 2025 at $907 million (up 38% year-on-year) and a hash rate of 66.4 EH/s; during Q1 2026, the price of BTC fell from about $87,000 to around $68,000, putting pressure on the mining company's total costs. The market will focus on the progress of its AI/HPC data center transformation and the rollout pace of the Starwood JV, which exceeds 1 gigawatt capacity.The U.S. Department of Labor released the April non-farm employment data on May 8, showing an increase of 115,000 jobs, nearly double the market expectation; Bitcoin maintained a range of $79,000---$80,000 after the data was released, with the market interpreting this "soft landing" signal as favorable for risk assets—an unheated job market means an increased probability of the Federal Reserve maintaining current interest rates, keeping the mid-term liquidity environment for cryptocurrency stable. The monthly net inflow for Bitcoin spot ETFs in April was approximately $2.44 billion, the strongest single month data of the year; April's monthly close rose by 16%, and if May's closing price remains above $76,000, it will confirm three consecutive months of positive monthly closes for Bitcoin, which Fundstrat founder Tom Lee defines as a "bear market ending signal."

According to Decrypt, Bitcoin mining company TeraWulf announced its first-quarter financial report, with a net loss of $427 million, compared to a loss of $61.4 million in the same period last year. The company's revenue was $34 million, of which 60% (approximately $21 million) came from AI computing business, a quarter-over-quarter increase of 117%; revenue from Bitcoin mining, on the other hand, decreased by 50% quarter-over-quarter to approximately $13 million.The CEO stated that the first quarter is a year of execution, and the company has established a complete platform, transforming its foundation into operational performance and recurring revenue. TeraWulf CFO Patrick Fleury mentioned that the company is shifting towards a more stable contracted revenue model, reducing its reliance on the volatility of Bitcoin mining. The company will continue to repurpose some of its Bitcoin mining operations to support higher-value high-performance computing workloads.

DeepSeek's financing negotiations with Alibaba have broken down. DeepSeek launched a massive financing round, attracting major companies like Tencent and Alibaba to participate, but the two sides ultimately failed to reach an agreement. The core conflict lies in Alibaba's desire to strengthen its AI ecosystem through investment, while DeepSeek, as an independent model company, insists on minimizing binding terms and maintaining technological independence, unwilling to accept excessive ecosystem ties.DeepSeek founder Liang Wenfeng has long rejected external equity financing. Although this time he has opened the door for the first time, his bottom line remains unchanged, with the most emphasis on offers with "the least additional conditions." DeepSeek's current financing round is valued at approximately 300 billion RMB (about 45 billion USD), with the fundraising focus on supplementing computing power and R&D funds, while also providing a market valuation anchor for employees to retain talent. Tencent had proposed to subscribe for up to 20% of the shares, but this was politely declined by DeepSeek as they did not want to relinquish a large proportion of control. Ultimately, the China National Investment Fund and others may lead the investment, with relatively loose terms that align more closely with DeepSeek's technological idealism.

According to Bits.media, the State Duma's Committee on National Construction and Legislation in Russia has suggested passing the government's proposed criminal liability bill for illegal cryptocurrency mining in the first reading.The bill will add Article 171.6 "Illegal Mining of Digital Assets and Activities of Mining Infrastructure Operators" to the Criminal Code, applicable to mining activities not registered in the national registry and unlicensed provision of mining infrastructure services. The severity of penalties will depend on the seriousness of the crime: for income or losses exceeding 3.5 million rubles, fines can reach up to 1.5 million rubles or two years' income, or compulsory labor for up to two years; for crimes committed by organized groups or income exceeding 13 million rubles, fines can reach up to 2.5 million rubles or three years' income, compulsory labor or imprisonment for up to five years, and may also include additional fines of up to 400,000 rubles or six months' income. In all cases, confiscation of the mined cryptocurrency is stipulated. The government states that currently about 50,000 entities in Russia are engaged in mining, but only 1,489 (609 legal entities and 880 individual entrepreneurs) are registered in the national registry.

According to Cointelegraph, cryptocurrency analyst Matthew Hyland stated that Bitcoin may have bottomed out around $60,000 in early February, and it is unlikely to see lower prices later this year.He pointed out that dozens of bottom signals appeared simultaneously when Bitcoin reached $60,000 in the first quarter of 2026, while these signals do not appear in the middle of a bull market. Hyland believes that the current market is not in the middle of a bear market, and this judgment has obvious flaws because bottom signals only flash at true bottoms.Previously, veteran trader Peter Brandt believed that $60,000 might not be the lowest point in 2026, while Willy Woo stated that Bitcoin has only completed about one-third of its bear market journey.