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On April 25, market analysis indicated that SpaceX plans to launch its IPO in June, aiming to raise $75 billion with a target valuation of $1.75 trillion. If successful, it will become one of the largest IPOs in history. The report noted that alongside potential IPO plans from OpenAI and Anthropic within the year, the three are expected to collectively attract over $240 billion in funding by the second half of 2026, surpassing the total of all U.S. venture-backed IPOs since 2000. Analysts believe that since crypto assets and tech stocks share a 'risk appetite funding pool', a large-scale IPO could trigger a reallocation of funds, leading to liquidity pressure on Bitcoin and the crypto market. Notably, this IPO is expected to allocate about 30% to retail investors (approximately $22 billion), which may directly divert funds that would have flowed into BTC and altcoins. Additionally, SpaceX currently holds around 8,285 BTC (approximately $600 million), making its IPO the first case of a super unicorn with substantial Bitcoin holdings. The market will closely monitor Bitcoin's performance during the roadshow in May and June: if prices come under pressure, it may confirm liquidity withdrawal; if they continue to strengthen, it could indicate that spot ETF funds have somewhat decoupled from the traditional market.

[Bitcoin and Crypto Market Face 'Blood Test', SpaceX's $75 Billion IPO May Withdraw Significant Liquidity]On April 25, market analysis indicated that SpaceX plans to launch its IPO in June, aiming to raise $75 billion with a target valuation of $1.75 trillion. If successful, it will become one of the largest IPOs in history. The report noted that alongside potential IPO plans from OpenAI and Anthropic within the year, the three are expected to collectively attract over $240 billion in funding by the second half of 2026, surpassing the total of all U.S. venture-backed IPOs since 2000. Analysts believe that since crypto assets and tech stocks share a 'risk appetite funding pool', a large-scale IPO could trigger a reallocation of funds, leading to liquidity pressure on Bitcoin and the crypto market. Notably, this IPO is expected to allocate about 30% to retail investors (approximately $22 billion), which may directly divert funds that would have flowed into BTC and altcoins. Additionally, SpaceX currently holds around 8,285 BTC (approximately $600 million), making its IPO the first case of a super unicorn with substantial Bitcoin holdings. The market will closely monitor Bitcoin's performance during the roadshow in May and June: if prices come under pressure, it may confirm liquidity withdrawal; if they continue to strengthen, it could indicate that spot ETF funds have somewhat decoupled from the traditional market.

Bitcoin and Crypto Market Face 'Blood Test', SpaceX's $75 Billion IPO May Withdraw Significant Liquidity

On April 25, Jensen Huang revealed in an internal email sent to all employees that OpenAI's latest release, Codex (based on GPT-5.5), is now officially available for use by all NVIDIA employees. Huang stated that approximately 10,000 employees have already experienced Codex in advance, achieving significant results across various departments including engineering, product, and marketing, with some employees claiming it has 'completely transformed the way they work.' The email noted that Codex operates on NVIDIA's Blackwell architecture, combining AI infrastructure to make the leap from 'chatbots answering questions' to 'agents autonomously completing tasks.' Huang emphasized that agents will become employees' 'teammates' and 'productivity multipliers.' Additionally, NVIDIA and OpenAI have established CodexLab and plan to launch training courses in the coming weeks to accelerate employee application. Huang stated, 'Welcome to the AI era.'

[Jensen Huang's Internal Memo: OpenAI Codex Now Available to All NVIDIA Employees, Marking the Arrival of the AI Agent Era]On April 25, Jensen Huang revealed in an internal email sent to all employees that OpenAI's latest release, Codex (based on GPT-5.5), is now officially available for use by all NVIDIA employees. Huang stated that approximately 10,000 employees have already experienced Codex in advance, achieving significant results across various departments including engineering, product, and marketing, with some employees claiming it has 'completely transformed the way they work.' The email noted that Codex operates on NVIDIA's Blackwell architecture, combining AI infrastructure to make the leap from 'chatbots answering questions' to 'agents autonomously completing tasks.' Huang emphasized that agents will become employees' 'teammates' and 'productivity multipliers.' Additionally, NVIDIA and OpenAI have established CodexLab and plan to launch training courses in the coming weeks to accelerate employee application. Huang stated, 'Welcome to the AI era.'

Jensen Huang's Internal Memo: OpenAI Codex Now Available to All NVIDIA Employees, Marking the Arrival of the AI Agent Era

On April 25, according to OnchainLens monitoring, a whale address '0x66f' opened a long position of 200,000 BRENTOIL worth $20 million in the past hour, using 5x leverage.

[Whale Opens $20 Million Long Position in 200,000 BRENTOIL with 5x Leverage]On April 25, according to OnchainLens monitoring, a whale address '0x66f' opened a long position of 200,000 BRENTOIL worth $20 million in the past hour, using 5x leverage.

Whale Opens $20 Million Long Position in 200,000 BRENTOIL with 5x Leverage

a16z has released a new research report indicating that stablecoins are evolving from their initial roles as transaction settlement tools and stores of value into a global financial infrastructure. The application focus is shifting from cross-border payments to local payment infrastructures, particularly evident in markets such as Asia and Brazil. Specific data includes: 1. Following the clarity provided by the GENIUS Act, the adjusted stablecoin trading volume is projected to reach approximately $4.5 trillion in Q1 2026; 2. The volume of stablecoin transactions from consumers to merchants (C2B) has increased by 128% year-on-year, reaching 284.6 million transactions; 3. Monthly collateral deposits for stablecoin card projects have surged from nearly zero at the end of 2024 to over $300 million by early 2026, reflecting the rapid expansion of stablecoin payment scenarios; 4. The velocity of stablecoins has increased from 2.6 times at the beginning of 2024 to 6 times, indicating a shift from being 'held' to being 'frequently used'.

[a16z: Stablecoin Q1 Trading Volume Reaches $4.5 Trillion, C2B Transactions Increase by 128% Year-on-Year]a16z has released a new research report indicating that stablecoins are evolving from their initial roles as transaction settlement tools and stores of value into a global financial infrastructure. The application focus is shifting from cross-border payments to local payment infrastructures, particularly evident in markets such as Asia and Brazil. Specific data includes: 1. Following the clarity provided by the GENIUS Act, the adjusted stablecoin trading volume is projected to reach approximately $4.5 trillion in Q1 2026; 2. The volume of stablecoin transactions from consumers to merchants (C2B) has increased by 128% year-on-year, reaching 284.6 million transactions; 3. Monthly collateral deposits for stablecoin card projects have surged from nearly zero at the end of 2024 to over $300 million by early 2026, reflecting the rapid expansion of stablecoin payment scenarios; 4. The velocity of stablecoins has increased from 2.6 times at the beginning of 2024 to 6 times, indicating a shift from being 'held' to being 'frequently used'.

a16z: Stablecoin Q1 Trading Volume Reaches $4.5 Trillion, C2B Transactions Increase by 128% Year-on-Year

On April 25, Pavel Durov, the founder of Telegram, stated that there have been 41 kidnapping incidents targeting cryptocurrency holders in France in the first three and a half months of 2026, questioning whether these incidents are related to data leaks. He pointed out that some tax data and information about crypto users appear to have been leaked and even exploited by criminals, leading to an increase in criminal activities against high-net-worth crypto users, warning that 'the more data there is, the more victims there will be.' At the same time, Durov criticized the French government's plan to strengthen regulations on social media user identities and private communications, stating that this move would further exacerbate privacy risks. He emphasized that Telegram will not grant access to user private information to relevant authorities and even mentioned the possibility of 'withdrawing from the French market.'

[Telegram Founder: Surge in Crypto Kidnappings in France Linked to Tax Data Leak, Will Refuse to Hand Over User Privacy]On April 25, Pavel Durov, the founder of Telegram, stated that there have been 41 kidnapping incidents targeting cryptocurrency holders in France in the first three and a half months of 2026, questioning whether these incidents are related to data leaks. He pointed out that some tax data and information about crypto users appear to have been leaked and even exploited by criminals, leading to an increase in criminal activities against high-net-worth crypto users, warning that 'the more data there is, the more victims there will be.' At the same time, Durov criticized the French government's plan to strengthen regulations on social media user identities and private communications, stating that this move would further exacerbate privacy risks. He emphasized that Telegram will not grant access to user private information to relevant authorities and even mentioned the possibility of 'withdrawing from the French market.'

Telegram Founder: Surge in Crypto Kidnappings in France Linked to Tax Data Leak, Will Refuse to Hand Over User Privacy

On April 25, Morgan Stanley launched a stablecoin reserve fund, which is a government money market fund investing in Treasury bills and repurchase agreements. This fund aims to provide reserve management services for stablecoin issuers in response to potential requirements from the GENIUS Act.

[Morgan Stanley Launches Stablecoin Reserve Fund to Address Potential GENIUS Act Requirements]On April 25, Morgan Stanley launched a stablecoin reserve fund, which is a government money market fund investing in Treasury bills and repurchase agreements. This fund aims to provide reserve management services for stablecoin issuers in response to potential requirements from the GENIUS Act.

Morgan Stanley Launches Stablecoin Reserve Fund to Address Potential GENIUS Act Requirements

On April 25, the DeFi United ecological rescue initiative, led by Aave, continues to advance. The designated donation address has raised a total of 69,589 ETH to address the collateral asset gap caused by the rsETH incident on April 18. The plan aims to restore the backing assets of rsETH through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the recovery of collateral rates and work with relevant protocols to gradually normalize the market. Current major commitments or participants include: Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming a contribution of 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, and Golem Foundation and related projects totaling 1,000 ETH, among others. Additionally, LayerZero, Ethena, FraxFinance, InkFoundation, and others have confirmed their participation, though specific amounts have not yet been disclosed. It is important to note that the progress of this rescue still depends on several external key conditions, including KelpDAO's restoration of rsETH redemptions and the Arbitrum security committee's release of frozen assets, leading to uncertainty regarding the overall recovery time and effectiveness.

[DeFi United Rescue Progress: 69,589 ETH Raised, Multi-Party Collaboration to Fill rsETH Gap]On April 25, the DeFi United ecological rescue initiative, led by Aave, continues to advance. The designated donation address has raised a total of 69,589 ETH to address the collateral asset gap caused by the rsETH incident on April 18. The plan aims to restore the backing assets of rsETH through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the recovery of collateral rates and work with relevant protocols to gradually normalize the market. Current major commitments or participants include: Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming a contribution of 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, and Golem Foundation and related projects totaling 1,000 ETH, among others. Additionally, LayerZero, Ethena, FraxFinance, InkFoundation, and others have confirmed their participation, though specific amounts have not yet been disclosed. It is important to note that the progress of this rescue still depends on several external key conditions, including KelpDAO's restoration of rsETH redemptions and the Arbitrum security committee's release of frozen assets, leading to uncertainty regarding the overall recovery time and effectiveness.

DeFi United Rescue Progress: 69,589 ETH Raised, Multi-Party Collaboration to Fill rsETH Gap

According to on-chain analysts, an address associated with the Balancer attacker has transferred 5,609 ETH, valued at $13 million, to THORChain. In November 2025, Balancer was hacked for over $116 million, with the same suspects linked to the Aave attack, both pointing to the North Korean hacker group Lazarus Group, which has recently been frequently using Tornado Cash for money laundering.

[Balancer Attacker's Associated Address Transfers 5,609 ETH to THORChain, Valued at $13 Million]According to on-chain analysts, an address associated with the Balancer attacker has transferred 5,609 ETH, valued at $13 million, to THORChain. In November 2025, Balancer was hacked for over $116 million, with the same suspects linked to the Aave attack, both pointing to the North Korean hacker group Lazarus Group, which has recently been frequently using Tornado Cash for money laundering.

Balancer Attacker's Associated Address Transfers 5,609 ETH to THORChain, Valued at $13 Million

On April 25, Pavel Durov, the founder of Telegram, stated that there have been 41 kidnappings targeting crypto asset holders in France in the first three and a half months of 2026, questioning whether these incidents are related to data leaks. He pointed out that some tax data and information about crypto users may have been leaked, potentially exploited by criminals, leading to an increase in criminal activities against high-net-worth crypto users, and warned that "the more data there is, the more victims there will be." Additionally, Durov criticized the French government's plans to strengthen regulations on social media user identities and private communications, stating that such measures would further exacerbate privacy risks. He emphasized that Telegram will not grant access to users' private information to relevant authorities and even mentioned the possibility of "withdrawing from the French market."

[Telegram Founder: Surge in Crypto Kidnappings in France May Be Due to Tax Data Leaks]On April 25, Pavel Durov, the founder of Telegram, stated that there have been 41 kidnappings targeting crypto asset holders in France in the first three and a half months of 2026, questioning whether these incidents are related to data leaks. He pointed out that some tax data and information about crypto users may have been leaked, potentially exploited by criminals, leading to an increase in criminal activities against high-net-worth crypto users, and warned that "the more data there is, the more victims there will be." Additionally, Durov criticized the French government's plans to strengthen regulations on social media user identities and private communications, stating that such measures would further exacerbate privacy risks. He emphasized that Telegram will not grant access to users' private information to relevant authorities and even mentioned the possibility of "withdrawing from the French market."

Telegram Founder: Surge in Crypto Kidnappings in France May Be Due to Tax Data Leaks

On April 24, according to monitoring by Lookonchain, the Balancer attacker has become active again after a five-month silence. Previously, they had stolen nearly $120 million in funds and are currently laundering money by exchanging ETH for BTC through THORChain. In the past hour, the attacker has transferred 1,100 ETH (approximately $2.55 million) and is in the process of converting it to BTC.

[Balancer Hacker Exchanges 1,100 ETH for BTC]On April 24, according to monitoring by Lookonchain, the Balancer attacker has become active again after a five-month silence. Previously, they had stolen nearly $120 million in funds and are currently laundering money by exchanging ETH for BTC through THORChain. In the past hour, the attacker has transferred 1,100 ETH (approximately $2.55 million) and is in the process of converting it to BTC.

Balancer Hacker Exchanges 1,100 ETH for BTC

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Balancer Hacker Exchanges 1,100 ETH for BTC

Isenção de responsabilidade：O conteúdo acima não representa as posições da HTX.，A HTX não faz quaisquer recomendações de negociação.。

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