LIVE – Crypto News, May 21: SpaceX Holds $1.4B BTC, Hyperliquid Surpasses Solana, Korean Funeral Firm Implodes on Leverage
In in the present day’s crypto information, SpaceX has made headlines with its Bitcoin holding revelation within the IPO submitting, Hyperliquid is flexing its power by topping Solana’s FDV, and a Korean funeral agency has misplaced thousands and thousands on a foul leverage commerce. These tales are dominating social media discussions.
Hyperliquid has surged forward out there with its totally diluted valuation reaching $54 billion, surpassing Solana. The related HYPE token gained 20%, outperforming all main tokens throughout this massacre. This highlights the platform’s rising affect in decentralized buying and selling as memecoin season on Solana cools off.
Hyperliquid Moves on Circle, Coinbase, and SpaceX News as Crypto Bleeds
The SpaceX pre-IPO shares itemizing is now avaliable on each Binance (SPCXUSDT) and Hyperliquid. This injects one other gallon of gas into HYPE rally, including momentum to an already spectacular run from Circle and Coinbase information. It reveals that Hyperliquid ecosystem is maturing amid unstable circumstances and shifting market dynamics.
Still from SpaceX, in it’s IPO filling, the corporate has revealed its Bitcoin holdings of 18,712 BTC, valued at $1.45 billion in the present day. This determine is way greater than our expectations and reveals SpaceX’s dedication to crypto as a treasury reserve technique. SpaceX reported Bitcoin holding has little question reveals a widespread curiosity in institutional adoption.
Market reactions to the SpaceX information have been combined however largely constructive, with many seeing it as validation for Bitcoin. The firm continues to push boundaries not simply in area however in finance, too. It aligns with business tendencies towards asset diversification and long-term worth preservation.
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Korean Funeral Firm’s Leverage Disaster
In one other a part of the world, a South Korean funeral agency, Bumo Sarang, misplaced $33 million of its prospects’ pay as you go funds after putting a leveraged 2x wager on the BitMine ETF that went bitter. The Korean funeral agency’s determination to make use of buyer cash for high-risk buying and selling has raised critical moral questions on its company accountability.
This Korean funeral incident serves as a stark reminder of the risks of leveraged crypto buying and selling for entities exterior the business. But it does spotlight how even unrelated to crypto companies are becoming a member of institutional adoption.
Another crypto treasury firm, Nakamoto, is plotting a 1-for-40 reverse inventory cut up following a dramatic 99 p.c worth plunge in its shares. This restructuring goals to spice up investor confidence and meet trade itemizing necessities going ahead.
At the identical time, Bitcoin ETF skilled one other $1 billion in outflows as investor sentiment cooled, with $648 million hitting within the newest wave amid elevated Wall Street crowding and revenue taking.
For certain, it has been a foul yr for treasury and mining corporations.
In one other information, removed from cautious, Trump’s order has lined up Kraken, Ripple, Coinbase, and Circle for direct Fed fee rails in what’s being known as a significant crypto win. With this order, we would see a larger integration with conventional banking techniques.
The Fed has proposed restricted grasp accounts which have lengthy been sought by crypto companies to enhance banking entry and scale back reliance on conventional intermediaries. US Treasury sanctions focused drug traffickers who had been laundering income by way of crypto channels in a continued effort to curb illicit actions.
JUST IN:
President Trump orders US authorities to replace laws to combine crypto into conventional finance and fee techniques.
— Watcher.Guru (@WatcherGuru) May 20, 2026
In distinction, Singapore revoked Bsquared’s crypto allow over an alleged critical breach of compliance guidelines. This sends a robust sign to the business about regulatory scrutiny in Asia, as Japan is ready to open its fee system to overseas stablecoins beginning June 1, as a part of efforts to modernize finance and appeal to worldwide enterprise.
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