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 tens of millions on a foul leverage commerce. These tales are dominating social media discussions.
Hyperliquid has surged forward available in the market with its absolutely 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 has flipped Solana by FDV. pic.twitter.com/rDF5FRg4TK
— Arkham (@arkham) Could 21, 2026
Hyperliquid Strikes on Circle, Coinbase, and SpaceX Information 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 exhibits that Hyperliquid ecosystem is maturing amid unstable situations and shifting market dynamics.
Nonetheless 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 exhibits SpaceX’s dedication to crypto as a treasury reserve technique. SpaceX reported Bitcoin holding has little doubt exhibits a widespread curiosity in institutional adoption.
Market reactions to the SpaceX information have been combined however largely optimistic, with many seeing it as validation for Bitcoin. The corporate continues to push boundaries not simply in house however in finance, too. It aligns with business traits towards asset diversification and long-term worth preservation.
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Korean Funeral Agency’s Leverage Catastrophe
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 resolution to make use of buyer cash for high-risk buying and selling has raised severe moral questions on its company duty.
– be Bumo Sarang
– one of many largest funeral corporations in South Korea
– manages pay as you go funeral cash from 1000’s of households
– as an alternative of holding it safely
– begins shopping for leveraged crypto-related ETFs
– particularly BMNU
– a 2x every day leveraged ETF tied to… https://t.co/JqIZCzxyS9 pic.twitter.com/VbRewfvp6Y— StarPlatinum (@StarPlatinum_) Could 20, 2026
This Korean funeral incident serves as a stark reminder of the risks of leveraged crypto buying and selling for entities exterior the business. Nevertheless it does spotlight how even unrelated to crypto companies are becoming a member of institutional adoption.
One other crypto treasury firm, Nakamoto, is plotting a 1-for-40 reverse inventory break up following a dramatic 99 % value plunge in its shares. This restructuring goals to spice up investor confidence and meet trade itemizing necessities going ahead.
On 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 Avenue crowding and revenue taking.
For positive, it has been a foul 12 months for treasury and mining corporations.
Bitcoin (BTC)24h7d30d1yAll time
In one other information, removed from cautious, Trump’s order has lined up Kraken, Ripple, Coinbase, and Circle for direct Fed cost rails in what’s being referred to as a serious crypto win. With this order, we would see a larger integration with conventional banking programs.
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 have been laundering income through 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 cost programs.
— Watcher.Guru (@WatcherGuru) Could 20, 2026
In distinction, Singapore revoked Bsquared’s crypto allow over an alleged severe breach of compliance guidelines. This sends a robust sign to the business about regulatory scrutiny in Asia, as Japan is about to open its cost system to international stablecoins beginning June 1, as a part of efforts to modernize finance and appeal to worldwide enterprise.
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The submit Crypto Information, Could 21: SpaceX Holds $1.4B BTC, Hyperliquid Surpasses Solana, Korean Funeral Agency Implodes on Leverage appeared first on Cryptonews.