Morning Report | SpaceX reveals it holds approximately $1.45 billion in Bitcoin; Nvidia's Q1 financial report shows revenue of $81.6 billion; Manus plans to raise $1 billion for buyback business

整理：ChainCatcher

Important News:

• SpaceX disclosed in S-1 filing that it holds 18,712 bitcoins, currently valued at approximately $1.45 billion
• Anthropic financing documents reveal: Q2 revenue expected to reach $10.9 billion, will achieve profitability at the operational level for the first time
• NVIDIA announced Q1 financial report: Revenue was $81.6 billion, data center business revenue was $75.2 billion
• Bankless reportedly undergoing large-scale layoffs, co-founder announces the end of the first phase
• Manus plans to raise $1 billion for business buyback and seeks to go public in Hong Kong
• MoonPay launches MoonPay Trade to enter the tokenized assets and DeFi market
• Blockchain.com has secretly submitted an IPO application in the U.S.

What important events have occurred in the past 24 hours?

Blockchain.com has secretly submitted an IPO application in the U.S.
According to ChainCatcher, Bloomberg reports that cryptocurrency trading platform Blockchain.com has secretly submitted an initial public offering application to the U.S. Securities and Exchange Commission. The company stated that its registration statement draft has been submitted, but the number of shares to be issued and the price range have not yet been determined. Blockchain.com is headquartered in Dallas, and this IPO is still subject to market conditions and the SEC's review results.

MoonPay launches MoonPay Trade to enter the tokenized assets and DeFi market

According to ChainCatcher, CoinDesk reports that MoonPay has announced the launch of a new platform, MoonPay Trade, aimed at banks, fintech companies, and enterprise clients, providing unified access to tokenized assets, decentralized finance (DeFi) protocols, and stablecoin liquidity, covering over 200 blockchain networks.

It is reported that MoonPay Trade will become the core execution layer of its institutional business, MoonPay Institutional, supporting tokenized fund subscriptions, collateral transfers, and integration with DeFi protocols such as Aave, Morpho, and Maple Finance, enabling institutions to conduct lending and yield generation operations directly on-chain.

Manus plans to raise $1 billion for business buyback and seeks to go public in Hong Kong

According to ChainCatcher, Bloomberg reports that the three founders of Manus are exploring various options to meet Beijing's request to withdraw from the transaction acquired by Meta, including raising approximately $1 billion from external investors to buy back the China-founded agentic AI business at a valuation of at least no less than Meta's original $2 billion acquisition price.

Insiders say that the founders may personally cover the gap and plan to establish a joint venture with new investors in China, followed by applying for a public listing in Hong Kong. Negotiations are still in the early stages, with several obstacles remaining, including how to separate Manus's technology and team, which have been deeply integrated into Meta's system, and the specific arrangements for the transaction structure.

Forbes: Iran holds approximately $7.7 billion in digital assets, U.S. Treasury has frozen nearly $500 million in Iranian-related cryptocurrency assets

According to ChainCatcher, Forbes reports that U.S. Treasury Secretary Scott Bessent stated that the U.S. Treasury has frozen nearly $500 million in cryptocurrency assets related to the Iranian regime, including $344 million frozen last month.

Reports indicate that Iran currently controls about $7.7 billion in digital assets and settles payments for shipping insurance through the Strait of Hormuz using Bitcoin.

The U.S. is intensifying its crackdown on Iranian cryptocurrency activities to cut off its channels for evading sanctions and transferring funds. Industry insiders say that cryptocurrency transactions can still be tracked, and the U.S. may further pressure by restricting cryptocurrency exchanges' access to the U.S. banking system.

Cryptocurrency financial infrastructure Cycles completes $6.4 million seed round financing, with participation from Coinbase Ventures and others

According to ChainCatcher, cryptocurrency financial infrastructure Cycles announced the completion of a $6.4 million seed round financing, led by Blockchange Ventures, with participation from Coinbase Ventures, Compound VC, Primitive Ventures, and others. After this round of financing, the total amount raised reaches $8.7 million.

The company aims to build a private clearing network for the cryptocurrency market and attempts to enhance capital utilization through a "clearing network" mechanism, achieving multi-party net settlement through zero-knowledge proofs and trusted execution environments, thereby reducing counterparty risk and minimizing liquidity consumption.

Prediction market Kalshi raises an additional $200 million from Baillie Gifford and Layer Global

According to ChainCatcher, Bloomberg reports that insiders revealed that prediction market Kalshi has raised an additional $200 million from two new investors, Baillie Gifford and Layer Global, expanding the previous $1 billion financing led by Coatue Management, maintaining the company's valuation at $22 billion.

Earlier, Kalshi announced the completion of a $1 billion Series F financing led by Coatue Management at the beginning of this month, with a valuation of $22 billion. Other participants included Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. Kalshi's monthly trading volume in April exceeded $14 billion, with an annualized revenue of over $1.5 billion.

NVIDIA announced Q1 financial report: Revenue was $81.6 billion, data center business revenue was $75.2 billion

According to ChainCatcher, NVIDIA (NVDA.O) released its financial report after U.S. stock market hours on Wednesday, reporting Q1 revenue of $81.6 billion for the period ending April 26, 2026, a 20% increase from the previous quarter and an 85% increase from the same period last year, with market expectations of $78.672 billion. Data center business revenue was $75.2 billion, with market expectations of $72.8 billion. NVIDIA also announced an $80 billion stock buyback plan and will increase its quarterly cash dividend from $0.01 per share to $0.25 per share.

Additionally, NVIDIA's data center spending (the main source of company revenue) has not shown signs of slowing down. NVIDIA expects Q2 revenue to be $91 billion (plus or minus 2%), while the market median expectation is $86.788 billion, although the forecast value once reached as high as $96 billion.

Anthropic financing documents reveal: Q2 revenue expected to reach $10.9 billion, will achieve profitability at the operational level for the first time

According to ChainCatcher, WSJ reports that Anthropic's revenue is expected to reach $10.9 billion in Q2, achieving more than double the growth from $4.8 billion in Q1, and will achieve profitability at the operational level for the first time. Due to its enormous computing power requirements, the company may not maintain profitability throughout the year, and operational profits have accounted for the costs of training new models but do not include equity incentive expenses.

As part of an ongoing financing round, Anthropic disclosed this data to investors, and this round of financing is likely to push its valuation above that of OpenAI. Last summer, Anthropic shared financial data with investors, indicating that the company might not achieve full-year profitability until at least 2028.

SpaceX disclosed in S-1 filing that it holds 18,712 bitcoins, currently valued at approximately $1.45 billion

According to ChainCatcher, The Block reports that according to the S-1 filing submitted by SpaceX to prepare for its IPO, the company holds 18,712 bitcoins. The document shows that as of December 31, the purchase cost of these bitcoins was $661 million, averaging about $35,000 each. SpaceX began purchasing bitcoins in 2021, almost concurrently with Tesla's well-known $1.5 billion bitcoin purchase that year.

Since then, the company has reduced some of its holdings; according to Arkham reports, its holdings once dropped to 6,095 BTC last year. On Wednesday, Arkham data showed that SpaceX holds approximately 8,280 BTC. If SpaceX's holdings exceed 18,000 BTC, it will become the seventh-largest holder of bitcoins, ahead of Coinbase. Based on the current price of bitcoin, these holdings are worth over $1.45 billion.
Goldman Sachs and Morgan Stanley are handling OpenAI's IPO documents, with applications possibly submitted as early as Friday

According to ChainCatcher, OpenAI has been working with investment banks to prepare for the submission of an initial public offering (IPO) application in the coming days or weeks. Investment banks, including Goldman Sachs and Morgan Stanley, are assisting OpenAI in drafting the IPO prospectus, and the company plans to secretly submit the documents to regulators soon, possibly as early as this Friday. Some insiders indicated that OpenAI aims to launch its IPO as early as September, although related plans still have uncertainties and may change in the future.

Earlier this week, OpenAI cleared a significant obstacle on its IPO path: the company won a legal dispute with co-founder Elon Musk, who has become a competitor to CEO Altman. Musk stated that he plans to appeal the ruling. OpenAI still needs to overcome a series of other challenges, the most significant being market concerns about its ability to generate sufficient revenue to support its substantial data center spending commitments.

Morpho curator competition intensifies, Steakhouse Fi leads with a $1 billion advantage

According to ChainCatcher, data from Token Terminal shows that Steakhouse Fi's leading advantage in the Morpho curator ecosystem has expanded to approximately $1 billion, far exceeding the second place. A year ago, there was almost no significant gap between this protocol and its competitors, indicating rapid growth and market consolidation over the past year.

Morpho operates on a curator model, where multiple vault managers compete for liquidity by offering different risk-return configurations and strategies. Steakhouse Fi's dominance indicates that it has successfully differentiated itself or gained significant user trust within the Morpho ecosystem. The curator ecosystem remains an active competitive area in DeFi, with various protocols increasingly relying on specialized managers to expand capital deployment across different risk levels and strategies.

Bankless reportedly undergoing large-scale layoffs, co-founder announces the end of the first phase

According to ChainCatcher, crypto community user @0x_Lucas disclosed on X that Bankless has recently reportedly laid off most of its team members, without issuing a public statement or thanks to assist laid-off employees in finding new opportunities. Previously, Bankless BD Director Jean-Paul Faraj confirmed his departure, and co-founder Ryan Sean Adams subsequently publicly sought employment on X.

At the same time, Adams officially stated that the first phase of Bankless has ended, calling it a conclusion to his six-year collaboration with David exploring crypto, DeFi, and Ethereum, and that they have now entered the second phase. Adams indicated that he will transition to a supportive role to continue providing assistance to Bankless.

Michael Saylor: Strategy's goal is to maximize STRC growth to increase Bitcoin holdings
According to ChainCatcher, Strategy founder Michael Saylor stated that the company's goal is to maximize the growth of the credit tool STRC to further expand Bitcoin purchases and increase the per-share BTC holdings. He also emphasized that the company aims to minimize volatility and uncertainty as much as possible.

Meme Popularity Rankings

According to the meme token tracking and analysis platform GMGN market data, as of May 22, 09:00,

The top five popular tokens in the past 24 hours for ETH are: HEX, SHIB, LINK, PEPE, UNI

The top five popular tokens in the past 24 hours for Solana are: TROLL, swarms, LOL, neet, Buttcoin

The top five popular tokens in the past 24 hours for Base are: B3, IMGA, TOSHI, KEYCAT, BRETT

What are some interesting articles worth reading in the past 24 hours?

a16z spends $356 million to sweep HYPE, surpassing Paradigm as the largest external holding institution

According to Santiment analysis, short squeeze and ETF fund inflows are the direct triggers for this market trend.

In recent days, a large number of traders have bet on HYPE's decline, leading to a significant rise in negative funding rates across trading platforms. After prices continued to rise, bearish traders were forced to buy back positions, further pushing prices up. Currently, HYPE's open contracts remain at over $1.92 billion, with new traders continuously entering the market, keeping position sizes stable.

It is Bankless that needs Ethereum, not Ethereum that needs Bankless

Amid a series of negative news, including the continuous departure of key figures from the foundation and multiple institutions selling ETH, the Ethereum ecosystem has once again welcomed sensational news.

Today, Bankless co-founder David Hoffman confirmed on the X platform that he has liquidated all his ETH holdings, while news of large-scale layoffs at Bankless and the split of two founders emerged.

In response, well-known KOL Chen Jian provided a vivid metaphor—"The Ethereum party's Bankless founder David selling all his ETH is essentially akin to Huang Changye's defection to North Korea back in the day." The impact of this statement is enough to chill the spine of anyone who understands Bankless's position in the Ethereum ecosystem.

However, in the context of the cryptocurrency industry becoming increasingly mainstream and institutionalized, and the narrative power of Ethereum having basically completed its transfer, Bankless's withdrawal is actually understandable and may not necessarily be negative news for Ethereum.

Coinbase has stuffed USDC into Hyperliquid; who benefited from this deal?

Tether dominates Binance, but Coinbase has just injected USDC into Hyperliquid. The competition for stablecoin distribution channels is intensifying.

Hyperliquid is currently one of the most fiercely contested battlegrounds in the cryptocurrency space. Last week, the HYPE spot ETF from 21Shares and Bitwise was listed on U.S. exchanges, with Grayscale and VanEck following closely behind.

Amid this institutional frenzy, a long-standing battle for interests is hidden, with all parties eager to share in the profits from this exchange.

Last fall, Hyperliquid initiated a public tender for a native stablecoin called USDH, aiming to reclaim revenue lost to Coinbase and Circle.