SharpLink Rejects Saylor's Crypto Strategy, Favors Ethereum Staking
SharpLink Gaming CEO Joseph Shalom criticized Michael Saylor's leveraged Bitcoin investment strategy. Ethereum firms, like SharpLink, favor staking income and simplified balances. Shalom views Ethereum as a superior reserve asset, offering passive income. SharpLink holds 868,699 ETH (~$1.96B), emphasizing equity and staking for stability, contrasting with firms hurt by early convertible debt. He predicts asset tokenization, stablecoin growth, 24/7 trading, and Ethereum's decoupling from Bitcoin, driven by DeFi, RWA tokenization, and AI.
Separately, Bit Digital's Q1 revenue hit $27.9M (-13.6%). The company pivots from Bitcoin mining to the Ethereum ecosystem and AI infrastructure, backed by 155,444 ETH holdings and control of AI operator WhiteFiber. CEO Sam Tabar sees finance's future at the intersection of AI and Ethereum.
SharpLink Gaming CEO Joseph Shalom criticized Michael Saylor's leveraged Bitcoin investment strategy. Ethereum firms, like SharpLink, favor staking income and simplified balances. Shalom views Ethereum as a superior reserve asset, offering passive income. SharpLink holds 868,699 ETH (~$1.96B), emphasizing equity and staking for stability, contrasting with firms hurt by early convertible debt. He predicts asset tokenization, stablecoin growth, 24/7 trading, and Ethereum's decoupling from Bitcoin, driven by DeFi, RWA tokenization, and AI.
Separately, Bit Digital's Q1 revenue hit $27.9M (-13.6%). The company pivots from Bitcoin mining to the Ethereum ecosystem and AI infrastructure, backed by 155,444 ETH holdings and control of AI operator WhiteFiber. CEO Sam Tabar sees finance's future at the intersection of AI and Ethereum.
Trump to Discuss Iran Military Options
President Donald Trump is expected to convene with his top national security advisers in the Situation Room on Tuesday. The meeting's focus will be on potential military action options concerning Iran. This development comes from a Sunday report, citing two US officials. The claims made in the report are not yet officially confirmed.
President Donald Trump is expected to convene with his top national security advisers in the Situation Room on Tuesday. The meeting's focus will be on potential military action options concerning Iran. This development comes from a Sunday report, citing two US officials. The claims made in the report are not yet officially confirmed.
South Africa's Unemployment Climbs to 32.7% in Q1
South Africa's jobless rate rose to 32.7% in the first quarter, up from 31.4%, exceeding economist forecasts. This means 8.1 million people are unemployed.
The increase was driven by significant job losses in construction and community services, despite some gains in manufacturing and mining sectors.
This weakening labor market comes as the IMF recently cut SA's 2026 economic growth forecast to 1%. Rising global energy and food prices, exacerbated by the US/Israel-Iran conflict, pose further economic challenges for the oil-importing nation.
South Africa's jobless rate rose to 32.7% in the first quarter, up from 31.4%, exceeding economist forecasts. This means 8.1 million people are unemployed.
The increase was driven by significant job losses in construction and community services, despite some gains in manufacturing and mining sectors.
This weakening labor market comes as the IMF recently cut SA's 2026 economic growth forecast to 1%. Rising global energy and food prices, exacerbated by the US/Israel-Iran conflict, pose further economic challenges for the oil-importing nation.
Oil Prices Ease Amid Hormuz Fears, US Inventory Watch
Oil prices eased in Asian trade after a three-day rally, as traders weighed ongoing Strait of Hormuz disruptions and U.S. inventory data. Brent fell 0.4% to $107.36, WTI 0.3% to $101.91.
Concerns grew after President Trump called an Iran ceasefire "on life support," hinting at prolonged conflict. The Strait of Hormuz, crucial for 1/5 of global oil, remains largely shut. EIA forecasts its closure until late May, projecting a steeper 2.6M bpd global inventory drawdown. Saudi Aramco CEO warned full market recovery may not occur until 2027.
API data showed U.S. crude stocks fell for a fourth straight week. Firm U.S. inflation and potential higher interest rates could temper future fuel demand, partially offsetting supply gains.
Oil prices eased in Asian trade after a three-day rally, as traders weighed ongoing Strait of Hormuz disruptions and U.S. inventory data. Brent fell 0.4% to $107.36, WTI 0.3% to $101.91.
Concerns grew after President Trump called an Iran ceasefire "on life support," hinting at prolonged conflict. The Strait of Hormuz, crucial for 1/5 of global oil, remains largely shut. EIA forecasts its closure until late May, projecting a steeper 2.6M bpd global inventory drawdown. Saudi Aramco CEO warned full market recovery may not occur until 2027.
API data showed U.S. crude stocks fell for a fourth straight week. Firm U.S. inflation and potential higher interest rates could temper future fuel demand, partially offsetting supply gains.
Pentagon: US War in Iran Costs Hit $29 Billion
The U.S. war in Iran has now cost $29 billion, a senior Pentagon official confirmed. This represents a $4 billion increase from late last month's $25 billion estimate. Acting comptroller Jules Hurst attributed the rise to updated equipment repair, replacement, and operational expenses.
The new figure emerges as Democrats leverage war costs in public debate ahead of midterm elections. While the precise method for reaching $29 billion is unclear, an earlier March estimate placed the first six days at $11.3 billion.
The U.S. war in Iran has now cost $29 billion, a senior Pentagon official confirmed. This represents a $4 billion increase from late last month's $25 billion estimate. Acting comptroller Jules Hurst attributed the rise to updated equipment repair, replacement, and operational expenses.
The new figure emerges as Democrats leverage war costs in public debate ahead of midterm elections. While the precise method for reaching $29 billion is unclear, an earlier March estimate placed the first six days at $11.3 billion.
Democrats Demand Ethical Amendments to CLARITY Act
The US Senate Banking Committee has released a new version of the CLARITY Act, a cryptocurrency regulation bill. While Chairman Tim Scott praised it as "good faith work" aimed at consumer protection and fighting illicit finance, Democrats are critical of its ethical shortcomings.
The bill offers legal certainty for DeFi developers and restricts stablecoin issuers from paying interest that makes them resemble bank deposits. Coinbase CEO Brian Armstrong called these terms a compromise.
However, a major point of contention is the absence of provisions addressing conflicts of interest for officials. Democrats insist on banning public servants from profiting from crypto assets, citing claims of the Trump family earning $1.4 billion from crypto deals. Earlier amendments proposing such bans were not included.
The US Senate Banking Committee has released a new version of the CLARITY Act, a cryptocurrency regulation bill. While Chairman Tim Scott praised it as "good faith work" aimed at consumer protection and fighting illicit finance, Democrats are critical of its ethical shortcomings.
The bill offers legal certainty for DeFi developers and restricts stablecoin issuers from paying interest that makes them resemble bank deposits. Coinbase CEO Brian Armstrong called these terms a compromise.
However, a major point of contention is the absence of provisions addressing conflicts of interest for officials. Democrats insist on banning public servants from profiting from crypto assets, citing claims of the Trump family earning $1.4 billion from crypto deals. Earlier amendments proposing such bans were not included.
Bitcoin Climbs Past $80K Amid US Regulatory Push, Global Tensions Weigh
Bitcoin rose 0.6% to $80,351.5 after US lawmakers advanced the "Clarity Act," aiming for a comprehensive crypto regulatory framework. This legislative progress fueled overnight strength, pushing the world's largest crypto above the $80,000 mark.
However, gains were capped by broader market caution. Uncertainty surrounding US-China trade talks, where semiconductor controls weren't discussed, and President Trump's hawkish stance on Iran, warning of further military action without a peace deal, tempered investor enthusiasm. These geopolitical concerns, alongside inflationary worries from the Iran conflict, limited crypto's upward momentum. Altcoins generally saw muted performance.
Bitcoin rose 0.6% to $80,351.5 after US lawmakers advanced the "Clarity Act," aiming for a comprehensive crypto regulatory framework. This legislative progress fueled overnight strength, pushing the world's largest crypto above the $80,000 mark.
However, gains were capped by broader market caution. Uncertainty surrounding US-China trade talks, where semiconductor controls weren't discussed, and President Trump's hawkish stance on Iran, warning of further military action without a peace deal, tempered investor enthusiasm. These geopolitical concerns, alongside inflationary worries from the Iran conflict, limited crypto's upward momentum. Altcoins generally saw muted performance.
Private Credit Funds Slash Loan Values Amid Rising Borrower Stress
Private credit funds have marked down over 10% of their loans by at least 50%. This signals "deep distress" as corporate borrowers in the $3.5 trillion market struggle with growing debt burdens due to sustained high interest rates.
Writedowns are at their highest since the pandemic, with smaller funds seeing 13% of loans valued below 50 cents on the dollar. Major firms like Carlyle and Blackstone are cutting fund values, and regulators warn of systemic risks. Delayed reporting and slumping returns (1.8% in Q4 2025) fuel investor unease, as a third lack trusted private market data.
Private credit funds have marked down over 10% of their loans by at least 50%. This signals "deep distress" as corporate borrowers in the $3.5 trillion market struggle with growing debt burdens due to sustained high interest rates.
Writedowns are at their highest since the pandemic, with smaller funds seeing 13% of loans valued below 50 cents on the dollar. Major firms like Carlyle and Blackstone are cutting fund values, and regulators warn of systemic risks. Delayed reporting and slumping returns (1.8% in Q4 2025) fuel investor unease, as a third lack trusted private market data.
US-Iran War Strains Global Financial Markets
The ongoing Middle East conflict is severely testing global finance. Asian currencies are plummeting, with Indonesia's rupiah hitting a record low, as the region faces critical oil import exposure. Central banks are intervening.
Japan's yen weakens further, burdened by high energy costs despite official support.
A new food shock looms for emerging economies as fertiliser supplies and energy prices surge.
Consumers globally feel the squeeze: US gasoline prices jumped over $4.50/gallon, fueling inflation expectations (ECB survey: 1-year expectations to 4.0%). The airline industry is hit hard; Spirit Airlines ceased operations, and European airline stocks are down 14% due to soaring jet fuel.
Bond markets show renewed fragility. US 10-year Treasury yields are nearing a "danger zone" above 4.5%, signaling instability for equities and credit.
The ongoing Middle East conflict is severely testing global finance. Asian currencies are plummeting, with Indonesia's rupiah hitting a record low, as the region faces critical oil import exposure. Central banks are intervening.
Japan's yen weakens further, burdened by high energy costs despite official support.
A new food shock looms for emerging economies as fertiliser supplies and energy prices surge.
Consumers globally feel the squeeze: US gasoline prices jumped over $4.50/gallon, fueling inflation expectations (ECB survey: 1-year expectations to 4.0%). The airline industry is hit hard; Spirit Airlines ceased operations, and European airline stocks are down 14% due to soaring jet fuel.
Bond markets show renewed fragility. US 10-year Treasury yields are nearing a "danger zone" above 4.5%, signaling instability for equities and credit.
Oil Surges Amid Escalating US-Iran Tensions After UAE Drone Attack
Oil prices jumped over 1% in early Asian trade, with Brent crude reaching $110.71 a barrel, fueled by heightened US-Iran tensions.
A recent drone strike near the UAE's Barakah nuclear plant, reportedly by Iran or its proxies, intensified concerns. US President Trump warned the "clock is ticking" for Iran, while the US and Israel discuss potential military operations.
The ongoing closure of the Strait of Hormuz continues to disrupt global oil shipments, further underpinning crude prices.
Oil prices jumped over 1% in early Asian trade, with Brent crude reaching $110.71 a barrel, fueled by heightened US-Iran tensions.
A recent drone strike near the UAE's Barakah nuclear plant, reportedly by Iran or its proxies, intensified concerns. US President Trump warned the "clock is ticking" for Iran, while the US and Israel discuss potential military operations.
The ongoing closure of the Strait of Hormuz continues to disrupt global oil shipments, further underpinning crude prices.
ECB May Hike Rates Due to Iran War, Says Bundesbank Chief
Bundesbank President Joachim Nagel suggests the ECB may need to raise rates, citing the Iran war and high energy prices. He warns that rate hikes are increasingly likely unless inflation fundamentally changes.
Nagel points to a shift towards an "adverse scenario" in ECB projections. He expects inflation to broaden beyond fuel, with supply shocks impacting all goods over 18 months.
Despite economic pressures, Nagel, a hawkish member, emphasizes the ECB's commitment to price stability. He affirmed their mandate, vowing to "do our job" and keep inflation near 2% in the medium term.
Bundesbank President Joachim Nagel suggests the ECB may need to raise rates, citing the Iran war and high energy prices. He warns that rate hikes are increasingly likely unless inflation fundamentally changes.
Nagel points to a shift towards an "adverse scenario" in ECB projections. He expects inflation to broaden beyond fuel, with supply shocks impacting all goods over 18 months.
Despite economic pressures, Nagel, a hawkish member, emphasizes the ECB's commitment to price stability. He affirmed their mandate, vowing to "do our job" and keep inflation near 2% in the medium term.
Nvidia CEO Jensen Huang Reportedly Joins Trump's China Trip
Nvidia CEO Jensen Huang is set to join President Trump's China visit this week, accompanying over a dozen other U.S. executives. His inclusion, confirmed by insiders, follows his absence from the initial White House executive list.
This occurs as Nvidia's powerful H200 chips have yet to be sold in China, citing difficulties with Chinese government permission, as noted by a U.S. official last month.
Nvidia CEO Jensen Huang is set to join President Trump's China visit this week, accompanying over a dozen other U.S. executives. His inclusion, confirmed by insiders, follows his absence from the initial White House executive list.
This occurs as Nvidia's powerful H200 chips have yet to be sold in China, citing difficulties with Chinese government permission, as noted by a U.S. official last month.
China's April Output & Sales Miss Forecasts
Official data reveals China's industrial output grew 4.1% in April, a slowdown from March's 5.7% and below the 5.9% forecast. Retail sales, a key consumption gauge, rose by a mere 0.2%, sharply decelerating from 1.7% in March and significantly missing the 2% expectation.
Adding to concerns, fixed-asset investment unexpectedly contracted 1.6% in the first four months of the year. This marks a reversal from the 1.7% rise in Jan-March and widely missed economists' predictions for a 1.6% expansion.
Official data reveals China's industrial output grew 4.1% in April, a slowdown from March's 5.7% and below the 5.9% forecast. Retail sales, a key consumption gauge, rose by a mere 0.2%, sharply decelerating from 1.7% in March and significantly missing the 2% expectation.
Adding to concerns, fixed-asset investment unexpectedly contracted 1.6% in the first four months of the year. This marks a reversal from the 1.7% rise in Jan-March and widely missed economists' predictions for a 1.6% expansion.
Unitree Unveils Manned Transformable Mecha GD01
Chinese firm Unitree has revealed the GD01, calling it the world's first production-ready manned mecha. This civilian vehicle, weighing around 500kg with a pilot, features a human cockpit and can move on two or four limbs. Priced from $650,000, a demonstration showed it breaking a concrete wall. The company urges "Friendly and Safe" use.
This launch follows Unitree's recent successes, including G1 humanoid robots performing synchronized flips in December 2025 and a humanoid becoming a monk in Seoul in May 2026. Unitree aims to sell 20,000 humanoids in 2026, a significant jump from 5,500, with its entry-level R1 model costing around $6,000 and available internationally. China is rapidly advancing in the "robot race."
Chinese firm Unitree has revealed the GD01, calling it the world's first production-ready manned mecha. This civilian vehicle, weighing around 500kg with a pilot, features a human cockpit and can move on two or four limbs. Priced from $650,000, a demonstration showed it breaking a concrete wall. The company urges "Friendly and Safe" use.
This launch follows Unitree's recent successes, including G1 humanoid robots performing synchronized flips in December 2025 and a humanoid becoming a monk in Seoul in May 2026. Unitree aims to sell 20,000 humanoids in 2026, a significant jump from 5,500, with its entry-level R1 model costing around $6,000 and available internationally. China is rapidly advancing in the "robot race."
Altman's $2 Billion Stakes in OpenAI Partner Companies Revealed
OpenAI CEO Sam Altman holds over $2 billion in companies that have engaged in business with OpenAI, a court filing shows. This revelation surfaces amidst a lawsuit by Elon Musk, alleging breach of charitable trust and unjust enrichment, alongside scrutiny from US Attorneys General and a Congressional investigation into potential conflicts of interest.
Key holdings include a $1.7 billion stake in Helion Energy and $633 million in Stripe. Altman denies self-dealing, stating he recused himself from relevant discussions, such as the Helion and Reddit deals. Attorneys General are urging the SEC to investigate OpenAI's documents, citing "serious legal questions" regarding Altman's conduct.
OpenAI CEO Sam Altman holds over $2 billion in companies that have engaged in business with OpenAI, a court filing shows. This revelation surfaces amidst a lawsuit by Elon Musk, alleging breach of charitable trust and unjust enrichment, alongside scrutiny from US Attorneys General and a Congressional investigation into potential conflicts of interest.
Key holdings include a $1.7 billion stake in Helion Energy and $633 million in Stripe. Altman denies self-dealing, stating he recused himself from relevant discussions, such as the Helion and Reddit deals. Attorneys General are urging the SEC to investigate OpenAI's documents, citing "serious legal questions" regarding Altman's conduct.
China Solar Exports Surge 60% Despite Tax Refund End
China's solar cell exports surged 60% year-on-year in April, customs data shows. This robust growth occurred despite the government eliminating an export tax refund. April saw 1.34 billion cells shipped, valued at $3.12 billion.
While April's volume declined from March's 1.71 billion cells, the previous month's record was partly due to buyers front-loading before the April 1 tax refund cancellation. Strong demand from Southeast Asia and Africa fueled the continued export performance.
China's solar cell exports surged 60% year-on-year in April, customs data shows. This robust growth occurred despite the government eliminating an export tax refund. April saw 1.34 billion cells shipped, valued at $3.12 billion.
While April's volume declined from March's 1.71 billion cells, the previous month's record was partly due to buyers front-loading before the April 1 tax refund cancellation. Strong demand from Southeast Asia and Africa fueled the continued export performance.
NY Fed Prevails in Appeal Against Puerto Rican Bank Over Venezuela Ties
The Federal Reserve Bank of New York has defeated an appeal by Banco San Juan Internacional (BSJI), a Puerto Rican lender, upholding its cutoff from the U.S. central banking system. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected BSJI's claim for a "master account" in a 3-0 decision.
Its access was cut off over concerns regarding U.S. sanctions and anti-money laundering rules, tied to Venezuela. The court affirmed regional Fed banks' discretion in awarding master accounts to promote financial stability. It also found no "discriminatory animus" despite the bank's Venezuelan ownership, rejecting BSJI's claim of being targeted in a broader "de-banking" campaign against "disfavored" models.
The Federal Reserve Bank of New York has defeated an appeal by Banco San Juan Internacional (BSJI), a Puerto Rican lender, upholding its cutoff from the U.S. central banking system. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected BSJI's claim for a "master account" in a 3-0 decision.
Its access was cut off over concerns regarding U.S. sanctions and anti-money laundering rules, tied to Venezuela. The court affirmed regional Fed banks' discretion in awarding master accounts to promote financial stability. It also found no "discriminatory animus" despite the bank's Venezuelan ownership, rejecting BSJI's claim of being targeted in a broader "de-banking" campaign against "disfavored" models.
THORChain Details $10M Hack, Warns of Scams
THORChain developers confirmed a $10M cross-chain protocol hack. The incident saw 36.75 BTC and ~$7M in EVM tokens stolen across Ethereum, BNB Chain, and Base networks. The protocol was paused, halting trading and liquidity operations.
The attack vector is believed to be a vulnerability in the GG20 TSS signature scheme, allowing an attacker to reconstruct private keys and execute unauthorized transactions.
While the team works on a recovery plan, expected to take days or longer for a full restart, developers emphatically state that __user funds were not affected__.
THORChain warns against numerous fake accounts and scam portals offering refunds, airdrops, or compensation. They stress that no such programs are active, and any claims to the contrary are misinformation or impersonation. Users are urged to exercise extreme caution.
THORChain developers confirmed a $10M cross-chain protocol hack. The incident saw 36.75 BTC and ~$7M in EVM tokens stolen across Ethereum, BNB Chain, and Base networks. The protocol was paused, halting trading and liquidity operations.
The attack vector is believed to be a vulnerability in the GG20 TSS signature scheme, allowing an attacker to reconstruct private keys and execute unauthorized transactions.
While the team works on a recovery plan, expected to take days or longer for a full restart, developers emphatically state that __user funds were not affected__.
THORChain warns against numerous fake accounts and scam portals offering refunds, airdrops, or compensation. They stress that no such programs are active, and any claims to the contrary are misinformation or impersonation. Users are urged to exercise extreme caution.
Iran to Unveil Hormuz Traffic Plan, Collect Tolls
Iran's national security committee head, Ebrahim Azizi, announced a forthcoming mechanism to manage traffic in the Strait of Hormuz. This plan will involve collecting "necessary fees" from commercial vessels and "parties cooperating with Iran." Operators of the "freedom project" will be excluded.
The move follows Iran's effective closure of the waterway since US-Israeli hostilities began in late February. Reports previously suggested tolls could be collected in cryptocurrency, including Bitcoin.
US President Trump strongly opposes Iran's control over Hormuz, advocating for its reopening. He is reportedly considering further military measures against Iran, having rejected recent peace offers and warned the ceasefire is "on life support." Trump continues to demand an end to Iran's nuclear operations.
Iran's national security committee head, Ebrahim Azizi, announced a forthcoming mechanism to manage traffic in the Strait of Hormuz. This plan will involve collecting "necessary fees" from commercial vessels and "parties cooperating with Iran." Operators of the "freedom project" will be excluded.
The move follows Iran's effective closure of the waterway since US-Israeli hostilities began in late February. Reports previously suggested tolls could be collected in cryptocurrency, including Bitcoin.
US President Trump strongly opposes Iran's control over Hormuz, advocating for its reopening. He is reportedly considering further military measures against Iran, having rejected recent peace offers and warned the ceasefire is "on life support." Trump continues to demand an end to Iran's nuclear operations.
US Considers Using Palestinian Tax Funds for Trump's Gaza Plan
The U.S. may ask Israel to divert Palestinian tax revenues, currently withheld, to Donald Trump’s Board of Peace for his Gaza post-war plan. Sources suggest funds could support a US-backed transitional Gaza government, with some to the Palestinian Authority (PA) if reforms are made.
The PA reports $5 billion withheld, fueling a financial crisis. Palestinians fear this move, made without their input, further sidelines the PA, which has no control over Gaza. The Board of Peace, which Israel joined but the PA did not, urged leveraging all resources for the estimated $70 billion plan. Reconstruction planning is advanced, awaiting suitable conditions.
The U.S. may ask Israel to divert Palestinian tax revenues, currently withheld, to Donald Trump’s Board of Peace for his Gaza post-war plan. Sources suggest funds could support a US-backed transitional Gaza government, with some to the Palestinian Authority (PA) if reforms are made.
The PA reports $5 billion withheld, fueling a financial crisis. Palestinians fear this move, made without their input, further sidelines the PA, which has no control over Gaza. The Board of Peace, which Israel joined but the PA did not, urged leveraging all resources for the estimated $70 billion plan. Reconstruction planning is advanced, awaiting suitable conditions.
Bybit Ranks Second in Open Interest, Leads CEXs in OI-to-Volume Ratio
Bybit, the world's second-largest crypto exchange by trading volume, has achieved the second-highest open interest (OI) among major derivatives platforms. An analysis of April 2026 data also reveals Bybit leads all centralized exchanges with the highest OI-to-trading volume ratio at 0.81.
This significant metric underscores strong user position retention and a maturing participant base, including institutional and long-term investors. Yoyee Wang, Head of Institutional and Enterprise Business, noted this reflects deeper, more sustained positioning activity.
Furthermore, Bybit's reserve asset growth outpaced its OI growth compared to January, enhancing reserve support for leveraged positions. The exchange also maintained stable funding rates during market recovery, emphasizing its commitment to liquidity quality and sustainable growth.
Bybit, the world's second-largest crypto exchange by trading volume, has achieved the second-highest open interest (OI) among major derivatives platforms. An analysis of April 2026 data also reveals Bybit leads all centralized exchanges with the highest OI-to-trading volume ratio at 0.81.
This significant metric underscores strong user position retention and a maturing participant base, including institutional and long-term investors. Yoyee Wang, Head of Institutional and Enterprise Business, noted this reflects deeper, more sustained positioning activity.
Furthermore, Bybit's reserve asset growth outpaced its OI growth compared to January, enhancing reserve support for leveraged positions. The exchange also maintained stable funding rates during market recovery, emphasizing its commitment to liquidity quality and sustainable growth.