Crypto news

Brian Armstrong recently shared a message with employees detailing a difficult decision the company had to make, and his post has generated a lot of discussion within the crypto world.

Apparently, short sellers got the memo too late-or maybe they were too busy doom-scrolling Twitter-and got liquidated faster than a Kardashian marriage. Oopsie! The price breezed past the $80,000 mark, which is like the velvet rope of the crypto club. If you’re not in by now, are you even trying?

The Boomerang — The Throw

Consider, if you will, the plight of the common trader, who, lured by promises of “life-changing tools,” finds himself ensnared in a web of financial folly. The Wall Street Journal, ever the vigilant chronicler of such tragedies, reveals that the least successful 10% of these souls have lost an average of $4,000 each. Ah, but fear not, for the sharks-those cunning professionals with their real-time data feeds and proprietary models-are here to “improve market efficiency.” How noble of them!

A spokesperson, no doubt dripping with the gravitas of a Victorian dandy, assures us that the company is “proactively mitigating quantum risk.” Proactively, mind you! As though one could simply wave a fan and waltz away from the specter of quantum supremacy. “Customer assets are safe today,” they coo, “but we must prepare for the future.” How quaintly prescient! One can almost hear the rustle of silk and the clinking of teacups as they ponder the “post-quantum world.”

For five days leading up to May 5th, Toncoin’s price stayed relatively stable, fluctuating between $1.30 and $1.35. However, after Pavel Durov made an announcement, the price quickly jumped from $1.35 to a peak of $1.895 – a 40% increase triggered by that single event. Currently, TON is trading at $1.888.

Coinbase CEO Brian Armstrong shared on X (formerly Twitter) that two key reasons led to this decision.

Data from Arkham’s AI shows that an address likely linked to Multicoin Capital recently moved around $28.45 million worth of HYPE tokens to HyperCore, where they were locked for staking. This signals increased activity and investment within the Hyperliquid platform.

This rebound, a testament to the irrational exuberance of the masses, has propelled its market capitalization beyond $4.4 billion, securing its place among the pantheon of leading cryptocurrencies at the #22 spot. The trading volume, a torrent of $50 million, flowed across platforms like Bitget, Gate.io, HTX, and Kraken, each a tributary in the great river of speculation.

In a missive dispatched via the modern-day samizdat known as X, Max proclaims that never in the annals of bear markets has Bitcoin dared to print more than two consecutive green candles. March and April, with their modest gains of 2% and 12%, respectively, have been but fleeting moments of warmth in an otherwise glacial landscape. Yet, with the irony of a dissident’s joke, he notes that May, historically weak and awash in liquidity, may yet deliver the cold slap of reality. Bitcoin, ever the contrarian, has already risen 6% this month, reaching the giddy heights of $81,000, a multi-month high that has sent optimists into paroxysms of hope. But Max, ever the skeptic, reminds us that the bear’s claws remain sharp, and the current rally may be nothing more than a liquidity grab, a fakeout as transparent as a Party official’s promises.