Odaily Odaily reports that Federal Reserve official Musalem stated that scenarios exist where the economy may require rate hikes. He believes there is a risk that inflation may not converge to the target as desired, and the baseline outlook is that it will take longer for inflation to return to target levels. (Jinshi)

Odaily reported that United Texas Bank announced it has received approval from the Office of the Comptroller of the Currency (OCC) to convert its state bank charter into a national bank charter. This conversion allows the bank to directly access the Federal Reserve payment system (ACH and Wire) while maintaining FDIC insurance coverage. Consequently, it will provide more stable US dollar banking channels for crypto exchanges, OTC trading desks, and stablecoin-related businesses, addressing US dollar settlement and liquidity issues in the crypto market. (FinanceFeeds)

Odaily Odaily reported that for the week ending May 22, the U.S. EIA strategic petroleum reserve inventory decreased by 9.063 million barrels, compared with the previous value of -9.92 million barrels.

For the week ending May 22, the U.S. EIA crude oil inventory decreased by 3.327 million barrels, compared with an expected decrease of 4.143 million barrels and a previous decrease of 7.863 million barrels.

For the week ending May 22, the U.S. EIA crude oil inventory at Cushing, Oklahoma decreased by 2.794 million barrels, compared with a previous decrease of 1.604 million barrels. (Jinshi)

Odaily News According to Adam, a macro researcher at Greeks.live, who posted on platform X, Bitcoin has fallen below the dense Gamma Exposure (GEX) zone of options, with subsequent resistance from upper-level positions gradually weakening. Ethereum (ETH) has also broken below its GEX concentration zone near $2,000, weakening its short-term structural support.

Although the BTC price has entered a relatively sensitive area, the Implied Volatility (IV) has not risen significantly. The IV across all tenors remains below 40%, with longer-dated tenors continuing to decline. The three consecutive days of decline have also failed to effectively push up short-term IV, indicating that the market has not yet priced in significant panic.

Currently, the implied probability for options expiring in May is approximately 20%. Tomorrow's monthly settlement is expected to significantly reshape the current option position structure. Overall, the market is still monitoring the effectiveness of key support levels, and the demand from large position holders to hedge against the risk of further breakdowns has not materially increased.

Odaily Odaily reported that Bitget CEO Gracy Chen posted on platform X, stating that the core difference of the newly launched Reality lies in liquidity, offering native depth of the US stock market. Most RWA US stock products on the market have fragmented underlying liquidity, rely on a small number of market makers, suffer from insufficient depth and severe slippage, and are disconnected from the real US stock trading experience. Reality is a pure spot product without leverage, fully consistent with the rules of trading US stocks on traditional brokerages, and does not introduce any additional risk. It currently supports 24x5 hour trading and will continue to advance towards round-the-clock 24x7 trading.

Odaily Odaily reports that Coinbase has released its Q1 2026 Solana validator report, disclosing its staking scale, infrastructure upgrades, and network optimization progress. The report reveals that Coinbase has staked approximately 40.48 million SOL on the Solana network, accounting for 9.52% of the total network stake.

The report also notes that Coinbase has implemented a near-zero-downtime (ZDD) upgrade mechanism. Through hot-swapping and dual-signature protection, it ensures that validator update processes do not compromise network security and stability. It supports multi-client systems such as Harmonic, Jito, JitoBAM, Firedancer, and Rakurai to enhance the diversity and resilience of the Solana validator ecosystem, while avoiding the centralization risks associated with a single scheduling policy.

Odaily Odaily讯 Despite reports of a draft memorandum of understanding between the US and Iran on a 60-day ceasefire and nuclear program discussions, the cryptocurrency market remains under pressure, with Bitcoin falling below $73,000, down about 2.7% in 24 hours. US stock and bond markets were boosted, with the Nasdaq rising 0.6% and WTI crude oil prices falling below $90 per barrel.

On the macro level, the first inflation report under new Fed Chair Warsh showed that the US core Personal Consumption Expenditures (PCE) index rose 3.8% year-over-year in April, the highest level in nearly three years, up from 2.8% in February. Olu Sonola, Head of US Economics at Fitch Ratings, stated that inflationary pressures could persist in the coming months, making it difficult for the Fed to ignore this supply shock driving underlying inflation.

Market analysis points out that in the short term, positive macro factors have significantly boosted stock markets and oil prices, but the crypto market lacks similar direct stimulus, and Bitcoin and other digital assets continue to face selling pressure. (CoinDesk)

Odaily reported that since the end of April, bearish bets on U.S. and Canadian stock markets have rapidly expanded. Data from S3 Partners LLC shows that total short positions have increased by nearly $100 billion, reaching $2.13 trillion, the highest level since the agency began tracking in 2010. Meanwhile, data from Goldman Sachs' prime brokerage business shows that the median net short interest as a percentage of market capitalization for S&P 500 index components has risen to 3%, the highest level since the end of 2011.

The Goldman Sachs trading desk views this positioning structure as a key signal of change, suggesting that the next phase of upward momentum for the market may come from a "short squeeze" driven by short covering, rather than continuing to rely on the rally expansion led by large-cap tech stocks over the past two months.

A team composed of Gail Hafif, Brian Garrett, and Lee Coppersmith pointed out: "We do see the potential for the market to move higher from current levels, but the next leg of the rally is more likely to be fueled by short covering in out-of-favor market sectors and risk aversion towards the momentum frenzy."

Odaily reports that Amichai Stein, a reporter for Israel's i24News, citing an insider, stated that Iran's Supreme Leader Mojtaba Khamenei has not yet approved the memorandum of understanding, which may also be one of the reasons why Trump did not give his consent. In fact, at present, it may only be a consensus reached between Iranian Foreign Minister Araqchi, Parliament Speaker Qalibaf, US Special Envoy for the Middle East Witkoff, and his team. However, the true high-level leadership of Iran, the ultimate decision-makers, have not yet said "yes." (Jinshi)

Odaily reported that U.S. Treasury Secretary Bessent warned Oman on Thursday against participating in a toll mechanism that Iran has threatened to impose in the Strait of Hormuz. Bessent wrote: "The U.S. government will not tolerate any attempt to forcibly implement a toll mechanism in the Strait of Hormuz. Oman, in particular, should understand that the U.S. Treasury will impose severe sanctions on any entity or individual—directly or indirectly—assisting with the toll collection in the Strait; any partner willing to act as an accomplice will face punishment."

The Treasury Secretary also called on all countries to resist Iran's efforts to disrupt passage through this critical shipping lane. He concluded: "The days of Tehran intimidating the region and the world are over." (Jinshi)

Odaily reports that according to Lookonchain monitoring, U.S. Bitcoin ETFs experienced a net outflow of 9,012 BTC today, Ethereum ETFs saw a net outflow of 40,247 ETH, and Solana ETFs registered a net inflow of 2,401 SOL.

Odaily reports that with super IPOs from SpaceX, OpenAI, and others approaching, large U.S. mutual funds and passive index funds have already started adjusting their positions early. Some funds are increasing their cash holdings and considering reducing their existing large-cap tech stocks to free up allocation space for future new index constituents.

John Flood, Managing Director of FICC and Equities in Goldman Sachs’ Global Banking & Markets division, pointed out that historical data shows that ahead of the largest four IPOs in the U.S. market over the past few decades, equity mutual funds had all raised their cash reserves. He stated that the market is reassessing the impact of large IPOs on the index system and capital flows.

Currently, index providers such as the Nasdaq 100 Index (NDX), the S&P 500 Index (SPX), and FTSE Russell are rapidly advancing new rules to accelerate the inclusion of ultra-large-cap newly listed companies into their indices. This means that future newly public companies with trillion-dollar valuations, like SpaceX, OpenAI, and Anthropic, could be added to major benchmark indices within a very short time after their listings.

Besides SpaceX, OpenAI and Anthropic are also advancing their IPO plans. OpenAI’s valuation could exceed $1 trillion, while Anthropic’s latest fundraising valuation is also approaching this level. (Jin Shi)

According to on-chain analyst EmberCN's monitoring, if BTC drops another $400, a BTC long position worth $30.5 million on Hyperliquid will be liquidated. He opened a 40x leveraged long position of 416.6 BTC ($30.5 million) at a price of $73,345 this afternoon, with a liquidation price of $72,433.

Odaily Planet Daily News: AI chip manufacturer Groq Inc., after reaching a $20 billion licensing agreement with Nvidia (NVDA.O), is raising up to $650 million from existing investors to establish a new company. The new entity, tentatively called "Groq2," is said to transition away from chip manufacturing to focus on building "AI neoclouds" services. (Axios)

Odaily Odaily French semiconductor company Sequans Communications stated on Thursday that it has completed the redemption of all debt related to its Bitcoin treasury, marking its official exit from the previous crypto asset treasury strategy and a refocus on the Internet of Things (IoT) and cellular semiconductor business. The company stated that this debt repayment was mainly completed by selling approximately 80% of its Bitcoin holdings. Sequans currently holds only 658 BTC, which are now “completely unencumbered.” The company said it will gradually “monetize” the remaining Bitcoin in the future, but did not specify whether it will continue selling or use on-chain methods such as collateralization.

Sequans CEO Georges Karam stated that this debt cleanup “marks an important turning point,” with the company having strengthened its balance sheet, simplified its capital structure, and will now fully concentrate on the 4G/5G IoT chip business, including applications such as smart metering, asset tracking, connected vehicles, and industrial IoT.

In retrospect, Sequans initiated its Bitcoin treasury strategy in June 2025, planning to substantially increase its BTC holdings. However, it gradually reduced its position amid market fluctuations, ultimately exiting the strategy entirely during the current cycle. Although the company's stock price saw a slight increase on the day, it has cumulatively fallen by over 90% from its peak during the Bitcoin boom. (The Block)

Odaily Planet Daily News: Futu Holdings held its Q1 2026 earnings call today. The company disclosed that its total brokerage transaction volume in the first quarter reached HKD 4.15 trillion, a year-over-year increase of 29% and a quarter-over-quarter increase of 4%. US stock trading volume reached HKD 3 trillion. As of the end of the first quarter, the company's assets under management (AUM) reached HKD 1,784 trillion, a year-over-year increase of 28%.

Company executives indicated that, targeting the local Hong Kong customer base, the company maintained a market share of over 50%. In overseas markets, the independent brand moomoo recorded high year-over-year revenue growth, including in five countries—Japan, Canada, Australia, the United States, and Malaysia—where revenue growth exceeded 100%. The company has over 2 million funded customers, with an average AUM per person of approximately USD 18,000. (Jin Shi)