liveUpdated 18 minutes ago
Despite a significant downturn in cryptocurrency values, some tokens initially showed resilience but are now declining as Arthur Hayes decides to sell.
Michael Saylor (Joe Raedle/Getty Images)Increase in Jobless Claims Ahead of Employment Data Release
The U.S. will publish its employment report for May on Friday, which could influence future interest rate decisions.
In the lead-up to this report, initial jobless claims have unexpectedly climbed to 225,000, up from 212,000 the week prior and above the anticipated 213,000.
This marks the highest claims figure in three months, yet it remains indicative of a relatively strong job market.
Economists predict that May will see an addition of only 85,000 jobs, with the unemployment rate expected to hold steady at 4.3%.
The yield on the 10-year Treasury has decreased by 4 basis points to 4.46% on Thursday.
Arthur Hayes Exits HYPE and NEAR, Maintains Position in WLD
Arthur Hayes (CoinDesk)Tokens associated with AI and upcoming major IPOs have generally been performing well, even amidst this week's broader crypto sell-off.
However, Arthur Hayes has decided to liquidate his holdings in two of these tokens.
"I just dumped my entire HYPE and NEAR position," Hayes announced on social media.
He cited factors such as rising energy costs, anticipated IPOs drawing capital, and Trump’s anti-AI stance leading up to the mid-term elections.
Nonetheless, Hayes is keeping his investment in Worldcom's WLD, stating, "The SpaceX IPO is going to melt people’s faces off," he remarked. "Holding WLD through the listing next week."
Currently, HYPE has dropped by 8%, NEAR has fallen by 16%, and despite Hayes' support, WLD is down 7%.
The market's anxiety intensified overnight, with Bitcoin (BTC) plummeting to a low of $61,400 before rebounding to $64,000.
As U.S. stock markets prepare to open, Bitcoin is again declining, trading at $62,400, representing a 7% decrease over the last 24 hours.
In response to the market's turbulence, Strategy Executive Chairman Michael Saylor remarked, "Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months," he posted on X shortly ago. "Bitcoin ETFs have experienced ~$4B of outflows since May 14, which has put pressure on BTC," he added.
"This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity," Saylor concluded.
His remarks resonate with the prevailing narrative concerning the recent price struggles in the crypto market, which have become especially pronounced this week following Strategy's decision to sell some of its Bitcoin holdings.
MSTR shares are down 1.8% in premarket trading.
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The Pre-IPO Perpetuals Category Takes Shape
The Pre-IPO Perpetuals Category Takes Shape
Binance launched Pre-IPO perpetuals on May 21, quickly securing over 60% of the market share in this category; total volume has reached approximately $400M, with SPACEX accounting for 79% of it.
May 29, 2026
Binance launched Pre-IPO perpetuals on May 21, quickly securing over 60% of the market share in this category; total volume has reached approximately $400M, with SPACEX accounting for 79% of it.
Why it matters:
Binance launched Pre-IPO perpetuals on May 21, quickly securing over 60% of the market share in this category; total volume has reached approximately $400M, with SPACEX accounting for 79% of it.