Headlines

OpenAI Reveals It Has Secretly Filed IPO Application

OpenAI issued a statement confirming it has secretly submitted an S-1 filing, noting that the document was expected to leak and thus chose to disclose it proactively. The company emphasized that the specific timing of the IPO remains undetermined and may still take some time, but this move positions it to accelerate listing when conditions are favorable. Its competitor Anthropic is also advancing its own public offering process. (Jinshi)

SpaceX Plans to Complete IPO Subscription After Wednesday’s U.S. Market Close

According to market sources, SpaceX plans to finalize its Nasdaq IPO subscription after the U.S. stock market closes on Wednesday, with subscription demand reportedly significantly exceeding supply.

Market News: SBF Officially Applies for Trump Pardon

FTX co-founder SBF has formally applied for a pardon from President Trump. Speaking in a federal prison interview, SBF stated he “absolutely” hopes to receive clemency and reiterated his denial of misappropriating user funds. Odaily Note: Presidential pardons do not require formal applications to initiate; the act of submitting one likely carries more symbolic than practical weight. (FOX Business)

Industry News

Visa, Mastercard Negotiating with Stripe and Coinbase to Form Stablecoin Consortium

Payment giants Visa and Mastercard are in talks with Stripe and Coinbase to establish a stablecoin consortium and launch a stablecoin platform. If realized, this initiative could reshape the current $300+ billion stablecoin market dominated by USDT and USDC, accelerating the adoption of stablecoins in retail payment scenarios. The plan remains in early discussion stages and no formal agreement has been reached yet. (Fortune)

Goldman Sachs and JPMorgan Explore "Compute Finance," Planning GPU Leasing Futures to Hedge AI Risks

According to informed sources, Goldman Sachs and JPMorgan are exploring financial instruments based on compute power costs, including futures contracts linked to GPU leasing prices. These derivatives are expected to be listed on exchanges later this year. Industry insiders suggest this move reflects how the influx of billions into data centers and semiconductor sectors is reshaping financial markets. (The Information)

Analysis: Bitcoin Shows Rare Weekly Bullish Divergence, Price May Reclaim $90K

Bitcoin’s weekly chart has exhibited a historically rare “weekly bullish divergence,” a signal previously seen after the FTX collapse that preceded a 715% surge in BTC. Current price hovers near the 200-week moving average at ~$62,000. A breakout above the $64,000–$65,000 range could target approximately $90,000. However, technical analysis also indicates BTC remains in a weekly bearish downtrend; a downside break could trigger a short-term drop back toward $50,000. (Cointelegraph)

Custodian Xiao He Rises Over 310% in One Day, Market Cap Surpasses $8.8M

According to GMGN data, BSC meme coin Custodian Xiao He briefly surged past a market cap of $8.8 million, now trading at $8.4 million with a daily gain exceeding 310%. Odaily warns that meme coins are highly volatile—exercise caution and manage risk accordingly.

ZachXBT: UK Sanctions on HTX Represent Overreach, Worsening On-Chain Address Pollution

On-chain investigator ZachXBT stated that the UK’s recent inclusion of HTX on its crypto sanctions list constitutes overreach. He pointed out HTX hosts a large base of Asian retail users, and its designation has led to widespread contamination of legitimate on-chain addresses, rendering the “risk” tag increasingly meaningless. He noted he now must disregard sanctioned category labels when tracking blockchain cases.

Project News

Coinbase Announces Official Role as Hyperliquid USDC Treasury Wallet Deployer

Coinbase announced it has officially become the deployer of Hyperliquid’s USDC treasury wallet, activating the AQAv2 functionality via two addresses, further strengthening collaboration between the two parties in stablecoin infrastructure.

Strategy Announces STRC Dividend Cycle Adjusted to Biweekly

Bitcoin treasury firm Strategy confirmed that shareholder approval has been secured for adjustments to the dividend mechanism of its perpetual preferred shares STRC, shifting payouts to a biweekly cycle.

Revolut Seeks $115B Valuation and Plans Multiple Secondary Rounds Before IPO

London-based digital bank Revolut is quietly pursuing a secondary equity round targeting a valuation of $115 billion—surpassing Barclays and Deutsche Bank. The company plans multiple secondary transactions prior to its formal IPO to provide liquidity for internal shareholders and assess market appetite. CEO stated the IPO is at least two years away. (Bloomberg)

Voices from the Field

IC3 Researcher: Cryptographic Technology Offers Limited Utility in Solving AI Trust and Payment Challenges

A report from IC3, composed of researchers from top-tier universities, argues that claims about cryptography solving core AI issues are often overstated. The report clarifies that AI systems do not become smarter or more resilient to manipulation simply by possessing cryptographic wallets. Wallets primarily enhance automation, enabling AI agents to perform on-chain actions without requiring manual approval for each transaction. While blockchain has value in AI payment and trust mechanisms, it is not a panacea. (The Block)

10x Research: Bitcoin’s Drop Driven by Inflation and ETF Outflows, Not Strategy

Markus Thielen, founder of 10x Research, stated that the primary driver behind Bitcoin falling below $60,000 is rising U.S. inflation triggering sustained outflows from spot Bitcoin ETFs—not concerns over Strategy’s selling. Since April’s inflation data exceeded expectations, U.S. spot Bitcoin ETFs have seen approximately $5.4 billion in net redemptions, while Strategy actually increased its BTC holdings by around $2 billion during the same period. His model forecasts U.S. inflation could rise to 4.3%, surpassing market expectations, with this week’s CPI data serving as a critical variable. (CoinDesk)