MYX Finance’s native token was the week’s largest gainer, with an over 1,100% gain. Worldcoin followed with over 90% gains. An unknown Hyperliquid trader has surpassed James Wynn, becoming the trading platform’s biggest losing whale, with more than $40 million in losses within a month, according to blockchain data. Lookonchain revealed that the trader made high-leverage trades, with nearly $40 million loss on Hyperliquid (HYPE), after selling about 900,000 tokens before the asset rebounded. The whale later lost another $35 million on an Ether (ETH) position. After that, he pivoted to a short position and then lost another $614,000. His Bitcoin (BTC) position is also underwater, with unrealized losses of nearly $2 million. Read more
Legal representatives for Coinbase filed a motion for a legal hearing and potential remedies after the SEC failed to comply with FOIA requests. Coinbase is escalating its dispute with US regulators over past communications involving former Securities and Exchange Commission Chair Gary Gensler. Coinbase filed a legal motion on Thursday requesting a hearing to address the SEC Office of the Inspector General’s investigation, which found that the agency deleted nearly one year’s worth of text messages from Gensler and other senior officials in “avoidable” errors. The exchange said the SEC should explain why it did not conduct a full search of agency records, including text messages from Gensler and senior SEC officials, when it requested the messages in several Freedom of Information Act (FOIA) filings from 2023 and 2024. Read more
Solana futures open interest rose to $16.6 billion as Galaxy and Forward Industries joined the adoption party. Is SOL headed toward $300 next? Key takeaways: Solana futures open interest hit $16.6 billion, and its perpetual futures funding rates are stable, hinting at further price upside. Spot-driven rally pushes SOL price, reinforced by Galaxy and Forward Industries’ buy demand. Read more