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🗣️ Hyperliquid Whale Exposed as Serial Scammer Behind $500 Million Short

gm Defiers!

A notorious Hyperliquid whale has been exposed as a serial scammer, while Toncoin secured over $400 million in VC investments.

Internet Computer has also posted record-breaking revenue, and Canary Capital is making waves with its filing for a Pudgy Penguins ETF. Meanwhile, Bitcoin remains around $84,000 as traders react to the Federal Reserve’s latest rate decision.

✍️ In today’s newsletter:

  • Hyperliquid whale exposed as notorious scammer
  • Toncoin lands $400M in VC funding
  • Internet Computer revenue records all-time highs
  • Canary Capital seeks approval for Pudgy Penguins ETF
  • Ethereum must decide whether to be an asset or a platform, says EY’s Paul Brody
  • Crypto market stalls again as BTC stagnates around $84K

🙏 Sponsored

📈 Markets in the last 24 hrs:

🎬WATCH

Catch up on our interview with Max Luck, Head of Growth at Flare Networks, as he discusses the layer-one EVM blockchain's focus on providing high-integrity data to builders through its enshrined oracles.

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🗣️ Hyperliquid Whale Outed as Serial Scammer

The Hyperliquid whale, unmasked by on-chain sleuth ZachXBT as serial scammer William Parker, has shaken the crypto world.

Parker’s well-timed Bitcoin long before Trump’s crypto reserve announcement and his $500 million short have sparked insider trading suspicions and a push to liquidate him.

💰VC Firms Buy $400M of Toncoin

Toncoin has secured over $400 million in token-based investments from top VCs, including Sequoia Capital, Ribbit Capital, and Paradigm.

📈Internet Computer Revenue Hits All-time Highs

Internet Computer has hit record-high quarterly revenue for three consecutive quarters, raking in $5.7 million in Q1 2025 so far.

That’s a sharp climb from its previous cycle high of $1.16 million in Q1 2022, with $1.25 million in Q3 2024 and $4.1 million in Q4 2024.

SPONSORED POST

the-defiant

Binance co-founder, and now “intern” at YZi Labs, Changpeng Zhao (CZ), sat down with Anna Kazlauskas, the creator of Vana Network, to discuss the role crypto and blockchain will play in the growth of artificial intelligence (AI).

The interview discusses the importance of data in AI training, its current limitations, and how transparent and community-led efforts can enhance the AI and machine learning space.

CZ and Anna brainstorm the idea of data as an asset class, DataDAOs which contribute to data accumulation and decentralized training, and DataDAO tokens which allow the market to assign value to these efforts.

Vana Network and YZi Labs envision a future where decentralized training and data contributions can not only assist the AI and machine learning space, but significantly improve it.

READ MORE: AI, Crypto, and the New Data Economy: A Conversation Between CZ and Vana

🏦Canary Capital Files for Pudgy Penguins ETF

Canary Capital Group has filed with the SEC to launch a Pudgy Penguins ETF, with up to 15% of its assets in Pudgy Penguins NFTs. The fund would primarily hold PENGU tokens (80%-95%).

⚖️Ethereum Must Choose: Asset or Platform, Says EY’s Paul Brody

Ethereum can be either a decentralized platform for enterprises and financial apps or a high-value investment asset—but not both, says EY’s Paul Brody.

Instead, he sees Ethereum’s true strength as a programmable blockchain, similar to an operating system for digital assets and applications.

📉Crypto Market Slips Again as Bitcoin Hovers Around $84,000

The crypto market fell for the second straight day Friday, weighed down by the Federal Reserve’s rate decision and President Trump’s latest crypto comments.

Bitcoin (BTC) held steady around $84,000, while Ethereum (ETH) inched up 0.4% to $1,962.

🌍 ELSEWHERE

  • US scraps sanctions on Tornado Cash, crypto ‘mixer’ accused of laundering North Korea money (Reuters)
  • Crypto Weekly: Bitcoin stalls, Kraken goes big, Pakistan accelerates, Onramp gets insured (TheStreet)
  • Cantor Leads a New Boom in Lending to Debt-Hungry Crypto Firms (Bloomberg)

🔥TRENDING