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The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $49.83 million liquidated (52.43% longs) - ETH: $34.65 million liquidated (59.92% longs) - HYPE: $27.63 million liquidated (73.41% shorts)

U.S. spot Ethereum ETFs saw a net outflow of approximately $32.55 million (49.2 billion won) on May 21, marking the ninth consecutive trading day of net outflows, according to data compiled by Trader T. - BlackRock ETHA: -$38.01 million - Bitwise ETHW: +$2.14 million - BlackRock Staking ETHB: +$3.32 million

Circle (CRCL) CEO Jeremy Allaire announced via X that the company plans to launch cirBTC, a wrapped Bitcoin based on direct custody from a regulatory-compliant institution. He added that cirBTC will be 1:1 backed by actual BTC held by Circle and will be issued on the Ethereum network and Circle's Layer 1 chain, Arc.

Jia, a financial platform for small and medium-sized enterprises (SMEs) in Southeast Asia, announced it has raised $3 million in a seed round led by Coinbase Ventures. Other participants in the round included the Stellar Development Foundation, A100x, TCG, and Hashed Emergent. Jia is developing a solution to address the funding challenges of Southeast Asian SMEs by providing on-chain capital powered by AI and blockchain. The latest investment brings Jia's total capital raised to $7.3 million. The company plans to use the funds for further development, including building out its operating system and dashboard.

U.S. spot Bitcoin ETFs saw their fifth consecutive day of net outflows on May 21, with approximately $100.81 million (152.2 billion won) exiting the funds, according to data compiled by Trader T. - BlackRock's IBIT: -$103.64 million - Ark Invest's ARK: +$2.83 million

Chun Wang, founder of F2Pool, a major crypto mining pool with Chinese roots, is set to command a manned SpaceX flyby mission to Mars. The two-year mission is scheduled to leave the Earth-Moon orbit, fly past Mars, and then return to Earth.

Ethereum Layer 2 project Zero Network is shutting down its operations a year and a half after its launch, The Block reported. Zerion, the crypto wallet company behind the project, announced that it will be ending Zero Network's operations to focus its team's resources on its API and wallet. Users who have deposited assets on the network must complete their withdrawals by the end of July. The bridging service for deposits has already been suspended.

Bithumb has announced it will list OPG for trading against the South Korean won.

The hacker behind the Verus Ethereum cross-chain bridge exploit has returned 4,052.4 ETH, worth $8.5 million, according to PeckShield. The funds, which represent 75% of the total amount stolen, were transferred to the Verus team's address. The remaining 25%, amounting to 1,350 ETH ($2.8 million), will be kept by the exploiter as a white-hat bounty.

An analysis from XWIN Research Japan suggests that the Federal Reserve under new Chairman Kevin Warsh is likely to prioritize monetary tightening, making metrics like the Coinbase Premium and exchange netflows key indicators for BTC's direction. In a contribution to CryptoQuant, the research firm noted that concerns over prolonged tightening could weaken BTC demand, lower the Coinbase Premium, and increase exchange inflows, creating downward pressure. However, the analysis also suggests that a recovery in spot Bitcoin ETF inflows could generate new capital flows, potentially offsetting these effects.

Tom Lee, Chairman of Bitmine (BMNR), has stated that Ethereum is poised to become the core payment infrastructure for the finance and AI industries. In a post on X, Lee argued that Ethereum's leadership and robust developer ecosystem will solidify its position as a key payment layer for both sectors. He compared the current market sentiment to the pessimism seen at the bottom of past crypto winters, noting that blame games and extreme negativity were widespread among market participants at the time. Lee further emphasized that blockchain is likely the only way for agentic AI to interact in commerce and that it will also significantly improve the revenue structure of the financial system.

Russia's Ministry of Finance has finalized a regulatory bill that maintains a ban on the use of non-custodial cryptocurrency wallets by individuals, local media outlet Bits reported. The final version of the bill, set to be announced next week, makes an exception for participants in foreign economic activities, such as importers. Under the proposed law, ordinary individual investors would only be permitted to trade cryptocurrencies through intermediaries licensed by the Russian central bank. The move comes despite opposition from the State Duma's financial market committee, which had argued against the central bank's push to prohibit personal wallets. If the bill is enacted, all individuals and institutions in Russia will be required to trade cryptocurrencies exclusively through central bank-licensed exchanges and intermediaries starting July 1.

According to HyperInsight, Jeffrey Huang, a famous Taiwanese singer also known as Machi Big Brother, has increased his 25x ETH long position to 6,375 ETH ($13.5 million). The entry price is $2,127.73, with a liquidation price of $2,089.42.

An address believed to belong to crypto venture capital firm Polychain Capital unstaked 122 million EIGEN, worth $23.88 million, seven hours ago, EmberCN reported. This amount represents 16.5% of the total EIGEN supply. Polychain Capital is a major investor in EigenLayer.

Germany's Federal Parliament (Bundestag) has rejected a tax reform bill that would have eliminated the country's long-standing tax exemption for crypto capital gains, according to a media outlet. The proposal, introduced by the German Green Party, sought to abolish the current policy that makes capital gains tax-free when cryptocurrencies are sold after being held for more than one year. The Green Party argued that crypto assets should be subject to the same tax rules as other investments. However, opponents contended that the measure could have imposed a higher tax burden on crypto investors compared to those in traditional stocks. The Green Party had estimated that repealing the exemption could generate approximately €11.4 billion ($12.3 billion) in additional annual tax revenue for the government.

Trump Media & Technology Group (DJT) has deposited 2,650 BTC, worth approximately $204.93 million, to the exchange Crypto.com. Following the transaction, the company now holds a total of 6,889 BTC, valued at $532.78 million.

Ki Young Ju, founder of CryptoQuant, stated on his X account that a true Bitcoin bull market has not yet begun. Sharing data from the Bull Score Index, he noted that all signals will become very clear when a genuine bull run starts, adding that the market has not yet reached that stage.

According to monitoring by Onchain Lens, two newly created wallets have received a total of 1,309 BTC from Galaxy Digital and FalconX. The transfer is valued at approximately $101.6 million.

According to Lookonchain, a whale address suspected to be associated with a16z has purchased an additional 261,250 HYPE in the past hour, valued at approximately $15.2 million. Since April 14, this whale has accumulated a total of 3.17 million HYPE for a total investment of $148.5 million. The average purchase price is $46.80, and the position currently holds an unrealized profit of about $33 million.

Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe are facing off in court over a failed merger and acquisition deal from four years ago. According to a Bloomberg report, BitGo is seeking at least $100 million in damages, alleging that Galaxy unilaterally withdrew from a $1.2 billion acquisition deal pursued in 2021. The transaction would have been the largest M&A deal in the crypto industry at the time. BitGo claims that Galaxy did not make sufficient efforts to finalize the deal and concealed information about an investigation by U.S. regulators. In his court testimony, Novogratz countered that Galaxy was not the target of the investigation and that the issue was unrelated to the regulatory approval process. He also emphasized that BitGo forfeited its right to a termination fee by failing to submit essential financial documents by the deadline. Novogratz explained that he had worked to close the deal, but the U.S. Securities and Exchange Commission (SEC), led by Chairman Gary Gensler at the time, made the transaction very difficult. He stated that both companies eventually determined the probability of regulatory approval was low, adding that Galaxy had even proposed merging in Canada to await an SEC approval.

According to crypto options exchange Deribit, Bitcoin options worth $1.59 billion are set to expire at 8:00 a.m. UTC today. The put/call ratio is 0.66, and the max pain price is $78,500. Additionally, Ethereum options worth $270 million will also expire at the same time. The put/call ratio for ETH is 0.92, with a max pain price of $2,200.

An anonymous whale has closed a short position on HYPE at a loss of over $6.99 million, according to Onchain Lens. The investor, who opened the position through two addresses on Hyperliquid, has since withdrawn the remaining USDC collateral. According to CoinMarketCap, HYPE has surged 32.56% over the past seven days and is currently trading at $58.52. The token ranks 10th among all cryptocurrencies by market capitalization.

The Spot CVD chart provides an order book analysis for the BTC/USDT spot pair. The top section shows the Volume Heatmap, while the bottom section represents the Cumulative Volume Delta (CVD). - The top Volume Heatmap tracks the volume of trades at specific price levels. The background color becomes brighter when the price lingers in a certain range or moves significantly. Areas with brighter colors may act as potential support or resistance levels. - The bottom CVD indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, and the brown line tracks large orders between $1 million and $10 million.

The Crypto Fear & Greed Index, calculated by data provider CoinMarketCap, has risen one point from yesterday to 40, moving from the 'Fear' to the 'Neutral' category. The index measures market sentiment on a scale where 0 indicates extreme fear and 100 signifies extreme optimism. CoinMarketCap's index is based on several factors, including price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data such as the put-call ratio, the Stablecoin Supply Ratio (SSR), and the platform's own search data.

Whale Alert reported that 650,000,000 USDC has been transferred from USDC Treasury to Coinbase. The transaction is valued at about $650 million.