The crypto community is planning a "whale hunting operation" against the "Hyperliquid 50x leverage whale"

According to on-chain analyst Ai Yi's monitoring, a "whale hunting operation" against the "Hyperliquid 50x leverage whale" has begun.

The crypto community is planning a "whale hunting operation" against the "Hyperliquid 50x leverage whale" with the goal of instantly wiping out his 6 million floating profit and forcing him to increase his margin by 5 million USDC. The operation will involve placing huge market orders to exhaust the whale's liquidity and then quickly close the positions to minimize personal losses.

The initiative began when Twitter user @Cbb0fe posted a tweet 11 hours ago to recruit a "whale hunting team" for a "50x leverage Hyperliquid whale hunting operation" on the OKX exchange. The goal was to "hunt down and bankrupt" the whale, who was known for his 50x leverage and hyperliquidity, enabling him to move market prices at will.

Those interested were instructed to DM him with their preferred coins and amounts, and he would select the final team members.

Surprisingly, Tron founder Justin Sun joined the operation, urging everyone to contribute 1 BTC to a new wallet address and then close their positions quickly to minimize personal losses.

Those who participated would then share the spoils of war—the 50x leveraged whale's assets.

The sudden surge of BTC at midnight last night seems to be the work of this whale hunting team, causing the 6 million floating profit of the 50x whale to be wiped out instantly, even resulting in a loss of 2 million, forcing him to increase his margin by 5 million USDC.

However, some users expressed skepticism, believing that the whale was intentionally baiting users to cooperate.

As of press time, the activity is still ongoing, and the final outcome remains to be seen.

Cobo co-founder and CEO Shen Yu shared his analysis of Strategy (MSTR), highlighting how the company's actions amplify Bitcoin's high volatility to the US stock market.

According to Shen Yu, professional institutions use this high volatility for arbitrage to obtain short-term profits, while MSTR raises cash through issuing convertible bonds and ATM increases to accumulate a large amount of Bitcoin.

Ordinary shareholders bear the risks of severe stock price fluctuations and short-term declines but passively gain "Bitcoin earnings" as the number of Bitcoins per share increases. Bitcoin holders benefit from continuous market capital inflow and rising Bitcoin prices.

This forms a closed-loop ecosystem, driven by the high volatility of Bitcoin and amplified by Strategy's actions.

The analysis provides insights into the unique dynamics at play in the cryptocurrency market, showcasing how professional institutions and individual investors interact in response to the market's volatility.

Coinbase CEO Brian Armstrong revealed that the company is currently collaborating with 145 government agencies in the US and 29 government agencies outside the US at the federal, state, and local levels.

In a recent post on the X platform, Armstrong highlighted the company's broad engagement with authorities in the US and other countries.

According to Armstrong, Coinbase's collaborations span various domains, including crypto policy, anti-money laundering, and cybersecurity.

With the launch of the US strategic Bitcoin reserve, we are seeing increasing interest from governments in understanding and engaging with digital assets.

According to an earlier report by ChainCatcher, Coinbase's net revenue for the first quarter of 2024 decreased by 71% year-over-year to $321 million, while operating expenses soared by 200% to $1.04 billion, resulting in a net loss of $804.54 million.

The company's subscription revenue also decreased by 66% year-over-year to $117 million, and trading revenue fell by 76% to $140 million.

However, Coinbase's revenue from ecosystem partners increased significantly by 380% to $53 million, and revenue from blockchain technology services also surged by 2,100%.

As the leading cryptocurrency exchange in the US, Coinbase has been actively engaging with government agencies to promote crypto policies and integrate digital assets into the mainstream financial system.

The company's collaborations with government agencies at multiple levels demonstrate its commitment to fostering a positive and sustainable crypto ecosystem.

Binance founder Zhao Changpeng shared his thoughts on artificial intelligence (AI) agents and their role in the cryptocurrency ecosystem.

In a recent X post, Zhao expressed his unpopular opinion that while cryptocurrency is the natural currency for AI, not every AI agent needs its own token.

"I have an unpopular opinion about AI agents: while cryptocurrency is the currency of AI, not every agent needs its own token. Focus on practicality, not tokens," he stated.

According to Zhao, the optimal scenario would involve a few primary tokens used by a vast majority of agents, with smaller, secondary tokens catering to specific niches or subgroups.

This structure would create a balanced and efficient ecosystem, facilitating seamless exchange and cooperation between agents.

According to a report by CC, Binance is planning to launch a new Pay Later