$BTC $ETH $SOL #Gate直通IPO认购SpaceX #Strategy低位加仓1550枚BTC #预测NBA总冠军赢20,000U #伊朗袭击以色列 #OpenAI秘密提交IPO申请

Market Trends
Total cryptocurrency market capitalization drops 2.8% to $2.21 trillion. Bitcoin (BTC) falls 4.4% in 24 hours, trading at $61,300, Ethereum (ETH) declines 3.6%. Most market sectors decrease between 3% and 7%, but GameFi and NFT sectors perform notably well, rising 3% to 4%.
OpenAI submits IPO application signaling intense capital competition in the risk asset space
OpenAI has secretly filed for an initial public offering (IPO), indicating an upcoming fierce battle for investor funds on Wall Street. This AI giant, along with competitors Anthropic and SpaceX, is preparing to go public, with the three “super unicorns” expected to attract substantial capital from other risk assets including cryptocurrencies. For investors, this means an impending “diversification pressure,” as limited funds may be reallocated to these highly watched AI stocks. This move places OpenAI’s high cash burn rate and ambitious funding needs under direct scrutiny in the public markets, highlighting the astronomical costs of AI development and creating a new formidable rival for investments that might otherwise flow into digital assets.
Asset management firm Janus Henderson partners with Ethena, signaling institutional investors will adopt the US dollar against the US Dollar Index (USDE)
Institutional recognition of decentralized finance (DeFi) has significantly increased, with asset manager Janus Henderson, managing $480 billion, announcing a strategic partnership with Ethena. The firm already holds Ethena’s governance token (ENA) and plans to co-develop regulated investment products linked to Ethena’s synthetic dollar USDe, such as ETFs. This partnership is not just about token investment but aims to integrate USDe into institutional cash management systems and create familiar, regulated entry points for traditional finance (TradFi) capital into DeFi infrastructure. This move strongly endorses Ethena’s legitimacy and could serve as a blueprint for large financial institutions to participate in and build DeFi protocols.
Morpho Protocol raises $175 million from top venture capital firms to build on-chain credit networks
DeFi lending protocol Morpho raised $175 million in a funding round led by Paradigm, a16z crypto, and Ribbit Capital, with a valuation of $2 billion. This is one of the largest financings in DeFi history and demonstrates top-tier venture capital firms’ long-term confidence in the future of on-chain credit markets. The investment powerfully indicates that even during overall market downturns, “smart money” continues to flow into foundational DeFi infrastructure targeting institutional users. The funds will be used to build Morpho’s “open credit network,” aiming to provide a platform for institutional users to create customized lending markets on-chain.
GSR receives FINRA approval to acquire broker-dealer
Crypto market maker GSR has received approval from the U.S. Financial Industry Regulatory Authority (FINRA) to complete the acquisition of a U.S. broker-dealer. This regulatory milestone is a key step in GSR’s strategy to become a regulated “Web3 investment bank” and enhance its services for U.S. institutional clients.
Circle launches Bitcoin-backed stablecoin cirBTC on Ethereum
Stablecoin issuer Circle has officially launched cirBTC on the Ethereum network, a wrapped Bitcoin token pegged 1:1 to Bitcoin (BTC). This move directly competes with existing wrapped Bitcoin providers like wBTC and cbBTC, aiming to enhance Bitcoin’s utility within the decentralized finance (DeFi) ecosystem.
Backpack US appoints former SEC acting chair as board member
Cryptocurrency exchange Backpack US has appointed former U.S. Securities and Exchange Commission Acting Chair Michael Piwowar to its board. This move aims to boost the company’s regulatory credibility in the U.S. and support its expansion into product lines, including regulated perpetual futures.
Aave proposes new risk framework after exploit
In response to recent multimillion-dollar network attacks, Aave lending protocol has proposed a new, more stringent risk framework. Pending approval from governance, the framework will tighten asset listing and monitoring standards to enhance protocol security, potentially removing high-risk assets from the protocol.