Coinbase financial chief Alesia Haas said “macro conditions were genuinely 
tough,” while CEO Brian Armstrong highlighted a plan to diversify beyond spot 
trading.

Coinbase shares slide on $400M Q1 loss, revenue miss

The potential release of Epstein&#8217;s note could influence public perception and 
trust in institutional transparency and accountability.
The post Epstein note analysis sparks market interest for May release appeared 
first on Crypto Briefing.

Epstein note analysis sparks market interest for May release

Block’s Q1 earnings beat estimates despite Bitcoin revenue falling 26% on 
changing Bitcoin “trading dynamics” and reducing fees on Cash App 
transactions.

Block Inc rises 8% as Q1 gives ‘earnings surprise’ despite Bitcoin dip

On Thursday, the Hyperliquid Research Collective (HRC) released the first- 
quarter (Q1) blockchain report on Hyperliquid (HYPE). The report highlights 
strong progress in several core areas, as well as weaker performance in 
others. The document also points to a broader narrative for the platform, 
arguing that Q1 brought Hyperliquid closer to its “House of All Finance” 
vision—even as wider market conditions made the quarter tough by historical 
standards. Hyperliquid Records 70% Outperformance Vs Bitcoin According to the 
report, Hyperliquid generated $215 million in gross revenue during Q1. That 
figure was paired with a buyback of 4.9 million HYPE tokens, underscoring the 
firm’s emphasis on token value support. Despite the declines seen in some 
operational metrics, the HYPE token delivered standout results, climbing 444% 
across the quarter. The report says this allowed HYPE to outperform Bitcoin 
(BTC) by 70% over the same period. Related Reading: VanEck Forecast: Bitcoin 
Could Climb To $1,000,000 By 2031, Research Head Says At the same time, not 
every measure moved higher. The report notes that holder revenue fell 33%, 
perpetual (perp) volume dropped 15%, and average open interest compressed 23%. 
The report attributes these changes to the environment the market was in, 
describing Q1 as the worst quarter for the market since 2018. In that context, 
Bitcoin fell 26%, and total crypto market capitalization recorded outflows of 
more than $900 billion, which the report frames as a major drag on activity 
and income. The Hyperliquid report also breaks down how the quarter unfolded. 
Hyperliquid’s quarter low was $1.16 billion in January, marking a 20% decline 
compared with the end of 2025. It says that February and March helped 
stabilize the picture, with March emerging as the strongest month for locked 
liquidity. Specifically, total value locked (TVL) rose from $1.4 billion to a 
peak of $1.8 billion, before settling by quarter-end at $1.69 billion. “House 
Of All Finance’ Gains Traction Activity on the Hyperliquid side remained an 
important bright spot. The report shows HIP-3 deployer volume grew 
sharply—from nearly $25 billion in January to $68 billion in March—and 
finished the quarter at 33% of daily perp volume. Looking at broader DEX 
activity, Hyperliquid reported that total HyperEVM DEX volume declined 40% 
quarter-over-quarter (QoQ), landing at $9.2 billion compared with $15 billion 
recorded during the fourth quarter of last year. Beyond the numbers, the Q1 
Hyperliquid report emphasizes that this quarter felt different in terms of the 
company’s strategic positioning. HRC says Q1 was the moment when Hyperliquid’s 
“House of All Finance” thesis became “undeniable.” Related Reading: Bitcoin At 
$82K, But Metrics Don’t Smile: Network Activity Down, Spot Demand 
Negative—What’s Next? The Hyperliquid Research Collective report ties that 
claim to developments that landed around the same time, including a benchmark 
update: S&amp;P Dow Jones Indices, through an officially licensed benchmark, 
signed with Tradexyz, identifying the Hyperliquid HIP-3 deployer dominance as 
a key part of the ecosystem. The report also points to institutional and 
investment momentum, noting that Grayscale, VanEck, and Bitwise submitted 
filings for HYPE exchange-traded funds (ETFs). The report further highlights 
expanding institutional support, including the addition of Ripple Prime 
support to Hyperliquid for institutional clients. At the time of writing, 
Hyperliquid’s native token, HYPE, was trading at $42, having recorded losses 
of 1.7% over the previous 24 hours. Nevertheless, it is one of the best 
performers of the second quarter so far, having gained 17% over the past 
thirty days. Featured image created with OpenArt, chart from TradingView.com

Hyperliquid Q1 Report—The ‘House Of All Finance’ Is Nearer Than Ever, Here’s Why

Escalating US-Iran tensions in the Strait of Hormuz threaten global oil supply 
stability, potentially driving long-term price volatility.
The post Oil prices jump as US, Iran trade fire in Strait of Hormuz appeared 
first on Crypto Briefing.

Oil prices jump as US, Iran trade fire in Strait of Hormuz

Bermuda is transitioning from blockchain experimentation to practical 
implementation with the announcement of a new USDC stablecoin airdrop and a 
merchant onboarding program. Strategic Expansion of USDC Airdrops Bermuda is 
expanding its push into digital currency by launching a new stablecoin 
distribution and a comprehensive merchant onboarding program, Premier David 
Burt announced on May 6. […]

Coinbase shares slide on $400M Q1 loss, revenue miss

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