24H Hot Coins & Headlines | Ledger Delays US IPO Plan; Trump Arrives in Beijing for China Visit (May 14)
- Core Viewpoint: The crypto market showed divergence today, with certain coins and on-chain Memes exhibiting unusual activity; at the macro level, personnel changes at the Federal Reserve, Trump's visit to China, and ongoing inflationary pressures continue to weigh on the market; on the industry front, Charles Schwab launches retail crypto trading services, and Jane Street significantly reduced its Bitcoin ETF holdings while rotating into Ethereum and related companies.
- Key Elements:
- Market Performance: Among the CEX trading volume Top 10, OSMO surged 44.13% to lead, BB gained 9.9%; on the 24-hour gainers list, NAVX led with a 28.23% increase; the crypto-related stock VIVO.M showed strong performance, rising 53.04%.
- Macro Dynamics: The U.S. Senate confirmed Kevin Warsh as Federal Reserve Chair, with Powell staying on as Governor; Trump arrived in Beijing for a state visit; Fed officials indicated growing impatience with inflation, suggesting interest rates may need to stay higher for longer.
- Industry Developments: Charles Schwab is rolling out spot Bitcoin and Ethereum trading services to its U.S. retail clients in phases, with a 0.75% fee and custody handled by its affiliated bank.
- Institutional Moves: Jane Street significantly reduced its holdings of BlackRock's IBIT (-71%) and Fidelity's FBTC (-60%) in Q1, while increasing its Ethereum ETF holdings by approximately $82 million and its position in Galaxy Digital stock.
- Policy & Regulation: Cardano founder pointed out that Section 604 of the CLARITY Act could hold open-source developers legally liable for others' misuse of their code over long periods, threatening innovation.
1. CEX Hot Coins
CEX Top 10 by Trading Volume & 24-hour Change:
- BNB: +0.12%
- BTC: -1.86%
- ETH: -1.63%
- SOL: -4.51%
- BB: +9.90%
- XRP: -1.90%
- DOGE: +2.09%
- OSMO: +44.13%
- ZEC: -8.46%
- PEPE: -3.59%
24-hour Top Gainers (Data source: OKX):
- NAVX: +28.23%
- XCH: +13.45%
- PARTI: +12.04%
- INJ: +5.86%
- EDGE: +6.25%
- ASP: +6.31%
- CFX: +5.95%
- VELO: +4.34%
- HUMA: +3.25%
- DOGE: +2.62%
24-hour Top Gainers (Crypto Stocks, Data source: msx.com):
- VIVO.M: 53.04%
- VELO.M: 48.79%
- TSEM.M: 24.17%
- NA.M: 20.74%
- CSCO.M: 20.35%
- AAOI.M: 20.29%
- WOLF.M: 19.14%
- NOK.M: 16.55%
- NBIS.M: 16.42%
- VOYG.M: 15.99%
2. Top 5 On-chain Meme Coins (Data source: GMGN):
- BOUGHT
- MTFR
- JACKASS
- Rage
- Comrade
Headlines
U.S. Senate Confirms Kevin Warsh as Fed Chair; Powell Expected to Remain as Governor
The Senate confirmed Kevin Warsh as the next Federal Reserve Chair with a vote of 54 to 45. He will succeed Jerome Powell, whose term ends on May 15. Warsh will assume the role after completing the White House signing process, while Powell is expected to continue serving as a Fed Governor. This vote was one of the most partisan in history, with only one Democratic Senator voting in favor. (Jin Shi)
President Trump Arrives in Beijing for State Visit
U.S. President Donald Trump has arrived in Beijing to begin his state visit. (Xinhua)
Ledger Postpones U.S. IPO Plans, Considers Private Fundraising Instead
Hardware wallet maker Ledger has paused its U.S. IPO plans due to unfavorable market conditions. The company's potential valuation is around $4 billion, and it has not yet filed an S-1 with the SEC. Ledger is currently evaluating alternatives, including private fundraising. With token prices weakening and U.S. stock market volatility, several other crypto companies, including Kraken, have also postponed their IPOs. (CoinDesk)
Industry News
Israeli Defense Forces: Prepared to Resume Combat if Necessary
Leaders of the Israel Defense Forces stated that the IDF is prepared to resume combat operations if necessary. (Jin Shi)
Charles Schwab Launches Spot Crypto Trading for U.S. Retail Clients
Charles Schwab has phased in the launch of its "Schwab Crypto" service for U.S. retail clients, supporting spot trading in Bitcoin and Ethereum. The service charges a 0.75% fee per trade, with custody provided by Charles Schwab Premier Bank and underlying infrastructure powered by Paxos. The firm, which manages approximately $12 trillion in client assets, notes that its clients already hold about 20% of U.S. spot crypto ETFs. (FinanceFeeds)
Jane Street Significantly Reduces Bitcoin ETF Holdings in Q1, Increases Ethereum ETF and Galaxy Digital Positions
According to the latest 13F filing, Jane Street significantly reduced holdings in several Bitcoin-related assets in Q1 2026. Its position in BlackRock's IBIT decreased by ~71% quarter-over-quarter, and Fidelity's FBTC by ~60%. The firm also trimmed its positions in Strategy and several Bitcoin mining companies. Concurrently, its total Ethereum ETF holdings increased by approximately $82 million, and its Galaxy Digital position surged from about 17,000 shares to roughly 1.5 million shares.
Project News
Ethena Launches Exclusive USDe Market on Jupiter Lend, Supporting Leverage Strategies and Institutional Participation
Ethena has launched an exclusive USDe market on Jupiter Lend. This market is fully independent from existing Jupiter Lend deployments, with Bitwise responsible for on-chain asset management and risk oversight, supporting institutional participation. Users can deposit USDe, borrow, and execute leverage strategies within this market. USDe can also be bridged to the Solana network via Stargate Finance.
Anchorage Partners with Mexican Billionaire's Grupo Salinas for Stablecoin Cross-Border Payments
Anchorage Digital announced a partnership with Grupo Salinas. Through this collaboration, Grupo Salinas' crypto business, Coinpro, will integrate Anchorage's stablecoin payment infrastructure to enable real-time, programmable dollar settlements on the blockchain for Grupo Elektra users. Previously, Anchorage also partnered with Western Union to launch a U.S. dollar stablecoin product on Solana. (The Block)
Voices
Fed's Collins: Patience with Rising Inflation Is Waning; Rates May Need to Stay Higher for Longer
Federal Reserve Bank of Boston President Susan Collins stated that inflation has been above target for over five years, and the current restrictive monetary policy "may need to persist for some time." She indicated that if ongoing conflicts lead to further price increases, tighter policy might be necessary. Conversely, if inflation falls, the Fed could still cut rates later this year. (Jin Shi)
YZi Labs Head: Believing Crypto Was an Independent Innovation Was the Biggest Misjudgment of the Past
Ella Zhang, Head of YZi Labs, stated during a Binance Online livestream that focusing solely on the crypto space early on was a major misjudgment, potentially missing opportunities to invest in more AI companies. Her current focuses include AI agent intent-driven decision-making, permissionless payment systems, and data privacy protection. She noted that future Web3 projects might increasingly opt for equity tokenization or direct listings on traditional stock markets.
Solana Foundation President: Next Step for Asset Tokenization is Creating New Financial Assets in Markets Lacking Efficient Pricing Mechanisms
Lily Liu, President of the Solana Foundation, said in a Binance Online livestream that the next phase of asset tokenization will focus on areas like computing power and energy markets, where efficient pricing mechanisms do not yet exist. She added that crypto technology is helping improve financial accessibility in approximately 180 countries and regions globally that currently lack large-scale capital markets.
Charles Hoskinson: Section 604 of CLARITY Act Could Stifle Open Source Innovation
Cardano founder Charles Hoskinson pointed out that Section 604 of the CLARITY Act could hold open-source developers legally liable for the misuse of their code by others for an extended period. He warned that developers could face permanent repercussions even if they were unaware of the misuse, posing a serious threat to the open-source innovation environment.
