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Svmuu News “1011 Insider Whale” agent Garrett Jin pointed out in his latest market commentary that, against the backdrop of the Middle East conflict, the Strait of Hormuz has been effectively “blockaded” for three months. However, the market has already become “desensitized” to this geopolitical risk, and the AI narrative is reshaping traditional risk pricing logic. As a result, AI is significantly weakening the market's sensitivity to oil prices and geopolitical shocks. Since the emergence of ceasefire signals, U.S. stocks have “decoupled” from energy shocks, with gains in chip and tech stocks offsetting the impact from the energy sector, leading the market to gradually overlook the Strait of Hormuz risk. Nevertheless, he cautioned that the AI sector faces short-term risks of overvaluation and crowded trades, and a pullback could occur at any time.
In the energy market, the earlier assessment that the Strait of Hormuz risk had not been fully priced in has proven correct. Oil prices had risen due to supply shock expectations, but peaked and then declined following the release of strategic reserves and the U.S. intervention as a “supplier of last resort.” A successful exit was achieved on April 29-30. He believes the current risk-reward ratio for oil prices is no longer attractive.
On the macro and equity market front, U.S. households' holdings of stocks as a percentage of financial assets have reached approximately 47%, surpassing the level seen during the internet bubble era. This means a market downturn would, in turn, constrain policy. The VIX volatility index triggered different policy shift thresholds around 30 and 50, reflecting a “risk-off driven policy” characteristic.
In the gold market, the recent pullback in gold is not due to the fading of a war premium but rather changes in long-term structural demand. Since 2022, central banks globally have been purchasing gold at an average annual rate of over a thousand tons, primarily for de-dollarization and hedging against sanctions risks. He defines gold as “an ultimate exit tool outside the dollar system” rather than a mere safe-haven asset.
In the crypto market, the liquidity inflection point occurred last October, with funds flowing more toward AI assets, leading to a periodic drain from the crypto market. However, he believes the market is currently in a cyclical bear phase. Rebound rallies exist, but they do not equate to the start of a new bull run. The market must wait for liquidity to restart in a new cycle. The AI era is emerging as the dominant capital narrative. Even if a bubble exists, the structural opportunities it brings represent “a rare window of opportunity for ordinary investors.” Nevertheless, market cycle discipline should not be overlooked.

Svmuu reported that on-chain analyst ZachXBT posted on X platform, stating that the account Thomas A. Whitaker, after the Blue Origin rocket explosion accident, deliberately exaggerated the disaster and falsely claimed that the only launch tower was destroyed, thereby spreading panic. This account is actually a new sockpuppet of an account that deliberately provoked arguments and sought attention in the past. It masquerades as a US user but is actually located in Canada. The related post includes screenshots of the account's historical statements and geographical location as evidence.

Svmuu reported that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is calling on regulators to create a level playing field, allowing licensed institutions to offer around-the-clock on-chain perpetual contracts. ICE executives stated that while platforms like Hyperliquid are already conducting such trading, traditional institutions are restricted by regulations and unable to follow suit.
ICE has engaged in discussions with Hyperliquid to explore areas of synergy between traditional finance and the crypto industry. Additionally, ICE recently partnered with OKX to launch crude oil-related perpetual contracts, while also teaming up with institutions to build a blockchain-based securities trading system, comprehensively deploying 24/7 on-chain trading operations. (Cointelegraph)

According to data from MSX.COM, U.S. pre-market quantum computing concept stocks extended gains, with ServiceNow up over 8%, IBM up over 4%, Oracle up over 3%, and Infleqtion up over 1%.
Several Federal Reserve officials delivered remarks. Fed Daly stated that policy is currently in a good place and expressed "cautious optimism" about the economy. Fed Schmid noted that consideration may need to be given to how to tighten monetary policy further, potentially using the balance sheet to set policy constraints, and that flexibility to move interest rates up or down is necessary. Fed Kashkari stated that after the April PCE inflation data was released, it is still too early to assert that an immediate rate hike is needed.

Svmuu reported that Sui officially announced a network outage on its mainnet due to a vulnerability in the Gas billing logic of version 1.72, temporarily halting all transactions and on-chain activities. The Sui Core team has now completed emergency response, and the mainnet has resumed normal operations. The official statement indicated that a comprehensive post-mortem report will be released subsequently, detailing the cause of the incident and the fix.

Svmuu reported that the Arbitrum Foundation has initiated a new funding request to the Arbitrum DAO, planning to secure $16 million in stablecoins, 1,740 ETH, and 230 million ARB tokens, with a total value of approximately $43.5 million. The funds raised will be specifically allocated for the Foundation's operational work in 2027, covering areas such as technical infrastructure, ecosystem development, marketing, and governance services.
The ARB tokens requested in this proposal account for 3.7% of the total supply. In comparison, the Arbitrum DAO's total revenue for 2025 is approximately $23.49 million. Currently, this funding proposal is still in the community governance discussion phase. (forum.arbitrum)

Svmuu News: Multiple institutions including Robinhood, MetaMask, and eToro, along with Fireblocks, Checkout.com, Cross River Bank, Securitize, Wintermute, and others, jointly announced their participation in the "Open Transaction Layer (OTL)" initiative, aimed at establishing a unified transaction coordination protocol layer for on-chain finance.
OTL is positioned as an open protocol stack for coordinating identity verification, compliance validation, transaction messaging, and execution processes among wallets, institutions, and AI agents, addressing the integration fragmentation problem currently plaguing cross-institutional interactions in on-chain finance, where entities operate in silos.
The current coalition members include payment companies, trading platforms, wallets, market makers, and custody and stablecoin infrastructure providers, including Robinhood, MetaMask, eToro, MoonPay, SoFi, Wintermute, among others, as well as foundations from multiple public chains such as TON, Solana, Stellar, and Polygon. (Financefeeds)

Svmuureports that SpaceX officially filed its IPO prospectus last week. However, CEO Elon Musk's recent social media posts detailing the company's computing power leasing agreement with Anthropic have shown clear discrepancies with the prospectus's content. The prospectus states the collaboration will last until 2029, with a monthly rent of $125 million; Musk claims the agreement is merely a 180-day short-term lease, with either party able to terminate the partnership with 90 days' notice.
This divergence makes it difficult for investors to assess the company's valuation, and industry experts have raised questions about the standardization of information disclosure. Furthermore, analysts point out that the prospectus is missing several key data points. SpaceX is expected to go public on June 12. The company is currently valued at over one trillion dollars and continues to operate at a loss. (CNBC)

Svmuureports that the Kyiv Regional Prosecutor's Office in Ukraine stated it has completed a pre-trial investigation into a criminal group, which includes four former police officers and a civilian with a criminal record, suspected of kidnapping a crypto entrepreneur and extorting over $2.2 million through violence, intimidation, and false debt claims.
The prosecutors allege that the individuals involved targeted at least four victims, using law enforcement skills, official vehicles, and police identity disguises to commit the crimes, forcing victims to hand over funds and sign documents for non-existent debts. In one case, a victim from Kyiv was abducted at gunpoint and forced to sign documents for a false debt of $5 million. The prosecutors charged the suspects with forming and participating in an armed gang, kidnapping, illegal detention, robbery, extortion, and illegal possession of drugs. The group's activities were halted in November 2025, all involved individuals have been dismissed from the police force, and the case materials have been submitted to the court. (Decrypt)

Svmuu reports that Nakamoto, a Nasdaq-listed bitcoin treasury company, announced that Chairman and CEO David Bailey purchased 191,448 shares of the company's common stock in the open market from May 26 to May 28, totaling nearly $1 million. Nakamoto disclosed that it holds over 5,000 bitcoins on its balance sheet, and as of now, David Bailey holds approximately 18.25% of the company's outstanding common stock. (Businesswire)

Svmuu reports that Glassnode stated on platform X that Bitcoin recently retested the $75,000 strike price. This area had previously accumulated nearly $8 billion in short Gamma positions, which once pushed BTC's price down to around $72,500 before the recent options expiry. With the large-scale options expiry concluding today, the market's Gamma structure has begun to rebuild.
Data shows that during the BTC decline, the ATM implied volatility (IV) briefly increased, with the 1-week IV breaking above 35%, before quickly falling back to approximately 32%. IV for longer tenors also declined, indicating that the market still views this volatility as a "controlled adjustment." Meanwhile, the 25 Delta Skew remains positive, around 14% across most tenors, suggesting that demand for downside protection is still higher than for call options, though it has cooled down compared to earlier this month.
Glassnode added that the 1-month realized volatility rebounded from 24.5% to 28%, while the 1-month IV remains around 35%. A premium of 7 volatility points implies that the options market is still pricing in greater future volatility.
In terms of capital flows, the buying and selling structure of options over the past 7 days is almost perfectly balanced, with the proportion of buying and selling for both call and put options close to 25%. This reflects the market's lack of clear directional bets following the recent decline.
Furthermore, demand for put option protection around the $70,000 strike price briefly rose to nearly $10 million. However, as the market rebounded, some hedging positions have begun to take profits and close out, alleviating concerns about further declines.
Glassnode concluded that market volatility has now stabilized. While hedging demand remains relatively high, it is cooling down. With the expiry of the $75,000 options, the Gamma structure of the BTC market is being re-accumulated across multiple price ranges.