April closed as the strongest month of 2026, with approximately $1.97B in net inflows across crypto treasury strategies and ETFs.

Weekly flows (April 27 – May 4):

• BTC ETFs: +$162M

• ETH ETFs: -$82.5M

Latest treasury moves:

• BitMine Immersion Technologies acquired 101,745 ETH (~$237M)

• Strategy paused purchases this week after sustained accumulation

• Strive Asset Management renewed BTC accumulation, adding 444 BTC (~$33.9M)

XYZ has launched Pre-IPO Perpetuals (IPOP), a new type of perpetual contract designed for private companies preparing for a public listing.

How it works:

- Trades based on expected share price, not market cap

- Uses internal pricing before public listing

- Converts into a standard equity perpetual after IPO

IPOPs are cash-settled contracts, not tokenized equity, and do not provide shares, IPO allocations, dividends, or ownership rights. They allow users to trade exposure to a company’s expected public valuation before listing.

The first live IPOP market is Cerebras, one of the largest AI infrastructure companies preparing for a public listing.

👉 x.com/tradexyz/status/2050221965378761045

GameStop has made a $56B bid to acquire eBay, offering $125 per share in cash and stock, a roughly 20% premium to market price. Despite GameStop being significantly smaller than eBay, Ryan Cohen says the goal is to turn the platform into a real competitor to Amazon.

Key points:

- GameStop has built an approximately 5% economic stake in eBay

- Up to $20B in debt financing has been secured

- Cohen indicated he may take the proposal directly to shareholders if the board rejects it

- He intends to become CEO of the combined company

The strategy includes using GameStop’s 1,600 U.S. stores for authentication, fulfillment, and live commerce, while targeting $2B in annual cost savings within 12 months after closing. eBay shares rose more than 13% following the announcement.

👉 x.com/business/status/2051080621183713451?s=20

Peter Thiel’s Founders Fund closed a new $6B late-stage fund, its largest ever. $4.5B came from LPs, including sovereign wealth funds, while $1.5B was committed by Thiel, partners, and employees.

The fund will focus on AI, defense tech, and deep tech, with deployment planned across roughly a dozen companies over 2–3 years, using large late-stage checks rather than broad portfolio allocation.

Its previous $4.6B fund backed just 7 companies, including $1.25B into Anthropic and $1B into Anduril, highlighting the firm’s strategy of concentrated billion-dollar positions.

👉 x.com/business/status/2050209315806482933?s=20

ZachXBT publicly accused Tokenlon of deriving the majority of its volume from pig butchering scams, human trafficking proceeds, investment fraud, and Chinese underground marketplaces — and named imToken co-founder Ben He.

Independent research estimated that scammer swap transactions may constitute 58%+ of all Tokenlon transactions since 2022, and blockchain investigations firm Chainbrium separately found that a large proportion of pig butchering proceeds flowed through Tokenlon.

ZachXBT further flagged Butter Network, HiFiSwap, and Bridgers/SWFT alongside Tokenlon as platforms that should be prioritized for enforcement action.

USDM went from $300M at MEGA TGE on April 30 to $500M+ in under 72 hours. This event triggers next KPI-based token unlock. Unlike standard vesting, 53% of 10B MEGA supply is locked behind performance milestones, not calendar dates.

USDM itself was built with Ethena and earns yield on USDtb reserves backed by BlackRock's BUIDL fund. The primary adoption driver has been Ethena stablecoin looping — users deposit USDE, borrow USDM, and repeat the cycle to earn approximately 6% yield. The 100M USDE cap filled immediately, with expansion to 500M already planned.

Hyperliquid activated HIP-4 Outcome Markets, bringing on-chain prediction contracts directly into same account traders use for trading. The first live contracts cover recurring daily BTC price threshold events, opening or minting a position carries zero fees, a model designed to pull volume directly from Polymarket and Kalshi.

Within six hours of launch, Hyperliquid surpassed Polymarket's volume on the equivalent BTC Up/Down daily market — 89,253 shares traded on Hyperliquid vs. 79,500 on Polymarket.

Unlike standalone prediction platforms, HIP-4 runs inside Hyperliquid's unified margin account, allowing traders to hold outcome positions alongside perps and spot without moving collateral or switching interfaces.

BILL trading starts today, backed by $35M in funding. This board compares potential FDV scenarios using benchmarks from other Digital Identity projects like Sign, ENS, World, and zkPass.

MoonAgents Card is a virtual Mastercard debit card that lets AI agents and users spend directly from self-custodial onchain wallets using stablecoins.

The card converts stablecoins into fiat at the point of payment, works with any online merchant that accepts Mastercard, and does not require preloading funds or moving assets offchain before spending.

Issued through Monavate, a regulated payments platform, the card handles real-time onchain funding and authorization. If a payment fails, funds return to the wallet instantly, while custody remains fully with the user.

The product is currently available in the UK and Latin America through MoonPay CLI, with U.S. and EU rollout planned next. Identity verification is required before card issuance.

👉 x.com/moonpay/status/2050190840199274999?s=20

Nebius is acquiring Eigen AI, an infrastructure company focused on optimizing open-source AI models, in a deal valued at approximately $643M in cash and Class A shares.

Eigen AI improves performance across modern architectures such as MoE, long-context, reasoning, and sparse attention models, helping teams optimize inference, fine-tuning, and post-training without building custom infrastructure in-house.

Its optimization layer will be integrated into Nebius Token Factory, improving throughput, lowering inference costs, and reducing time to production across models including Llama, Qwen, Gemma, DeepSeek, GLM, Kimi, and MiniMax

👉 x.com/nebiusai/status/2050179138934194186?s=20