U.S. real estate investment firm Cardone Capital increases its Bitcoin holdings by 130 BTC
Grant Cardone, CEO of US real estate investment firm Cardone Capital and a billionaire, posted on the X platform that Cardone Capital has increased its holdings by 130 Bitcoin during the market correction.
[Odaily Planet Daily]
Liuye of Huobi HTX: Calling on all exchanges to optimize their risk control logic for HTX users as soon as possible
Huobi HTX’s “Brother Six” posted on X, expressing the hope that exchanges will jointly report current user issues to third-party security and risk control platforms. These issues include being incorrectly flagged, restricted fund flows, disrupted normal trading, and frozen accounts.
He suggested using data-driven feedback to prompt relevant institutions to resolve these issues as soon as possible, while further improving industry-wide risk control mechanisms to prevent similar incidents from recurring.
Bitcoin spot ETFs had a total net outflow of $733.00 million yesterday, continuing the net outflow for 8 days.
According to SoSoValue data, yesterday (May 27th, US Eastern Time), Bitcoin spot ETFs had a total net outflow of $733.00 million.
Yesterday, the Bitcoin spot ETF with the largest single-day net inflow was Morgan Stanley ETF MSBT, with a single-day net inflow of $4.2941 million. Currently, MSBT’s total historical net inflow has reached $238.00 million.
Yesterday, the Bitcoin spot ETF with the largest single-day net outflow was Blackrock ETF IBIT, with a single-day net outflow of $528.00 million. Currently, IBIT’s total historical net inflow has reached $64053.00 million.
[PANews]
Kalshi’s fee revenue over the past 24 hours surpassed Hyperliquid, reaching $5.69 million.
According to DeFiLlama data, Kalshi generated $5.69 million in trading fees over the past 24 hours, ranking third on DeFiLlama. Hyperliquid ranked fourth, generating $2.09 million in revenue over the past 24 hours—less than half of Kalshi’s figure.
It is reported that DeFiLlama launched a Kalshi fee and revenue dashboard on May 21, which primarily tracks trading fees collected from users by the platform.
[Odaily]
Yesterday, Ethereum spot ETFs saw a total net outflow of $67,150,800.00, marking the 12th consecutive day of net outflows.
According to SoSoValue data, yesterday (May 27, US Eastern Time), the total net outflow of Ethereum spot ETFs was $67.1508 million.
Yesterday, the Ethereum spot ETF with the largest single-day net outflow was Blackrock’s ETF ETHA, with a single-day net outflow of $65.1043 million. Currently, ETHA’s total historical net inflow reached $115.56 billion. The second largest was Fidelity’s ETF FETH, with a single-day net outflow of $2.0464 million, and the total historical net inflow of FETH has reached $21.57 billion.
As of press time, the total net asset value of Ethereum spot ETFs is $116.34 billion, and the ETF net asset ratio (market value as a percentage of the total market value of Ethereum) reached 4.67%, with a cumulative historical net inflow of $115.13 billion.
[Foresight News]
VanEck CEO: Bullish on Bitcoin in the long term, but warns that 2026 will be a correction year in the halving cycle
Jan Van Eck, CEO of VanEck, stated that the firm remains bullish on Bitcoin in the long term, but 2026 is historically a down year within the four-year halving cycle.
He noted that institutional adoption has remained largely unchanged and that there is currently a lack of catalysts to drive a significant Bitcoin price increase.
[Odaily]
Ethereum spot ETF had a total net outflow of $67.15 million yesterday, marking the 12th consecutive day of net outflows.
On May 28, according to SoSoValue data, Ethereum spot ETFs recorded a total net outflow of $67.15 million yesterday (May 27, Eastern Time).
The Ethereum spot ETF with the largest single-day net outflow yesterday was BlackRock’s ETF ETHA, with a net outflow of $65.10 million. ETHA’s cumulative net inflow to date stands at $1.1556 billion.
Next was Fidelity’s ETF FETH, with a single-day net outflow of $2.0464 million; FETH’s cumulative net inflow to date stands at $215.7 million.
[PANews]
WeHub, the holding company of the largest shareholder of Busan Digital Asset Exchange, will acquire the cryptocurrency exchange Flybit.
On May 28, according to Digital Asset, WeHub—the holding company of Busan Digital Asset Exchange’s largest shareholder—will expand its business into virtual assets through the acquisition of cryptocurrency exchange Flybit.
WeHub and Yang Jae-seok, Chairman of its largest shareholder JM Coffee Group, have agreed to this acquisition deal, the value of which remains undisclosed. Upon completion of the acquisition, WeHub will hold a 40% stake in Flybit, Yang Jae-seok will hold 25%, and Flybit’s CEO Kim Seok-jin will retain 15%.
Additionally, Flybit’s market share has declined due to its failure to obtain KRW real-name accounts.
[PANews]
Placeholder Partners: Major coins are still sending signals, and emerging projects find it difficult to rise against the trend for a long time.
Placeholder partner Chris Burniske tweeted that he does not believe a new paradigm will emerge where “mainstream crypto assets are rotated out, while a few emerging projects can rise against the trend in the long term.”
Current mainstream coins are sending important signals to the market, but some investors are looking for reasons to ignore these signals.
[Foresight News]
Yi Lihua: Will prepare to buy the dip for a new round of market after the rebound ends, and increase AI investment research
Liquid Capital founder Yi Lihua posted on X, stating that during the previous cycle, he was “correct eight times and wrong once.” However, the cost of that single mistake was substantial, though the related losses were primarily a retracement of prior profits.
Yi Lihua stated that after this rebound concludes, he will fully prepare to bottom-fish the next market cycle. Meanwhile, he will devote more than half of his time and energy to AI stock and AI investment research, adding, “Optimists always choose to believe in trends—only by believing can one avoid panicking at crypto lows and AI highs.”
[ChainCatcher]
US charges Google engineer with using internal search data to pocket $1.2 million on Polymarket
A Google engineer has been accused of misappropriating confidential company information to place Google-related trades on Polymarket, allegedly profiting about $1.2 million.
U.S. prosecutors filed a criminal complaint against Michele Spagnuolo, a software engineer at Google, charging him with fraud and money laundering, according to a filing unsealed Wednesday. The Commodity Futures Trading Commission also filed a parallel civil complaint against Spagnuolo, alleging insider trading in violation of the Commodity Exchange Act.
Between October and December 2025, Spagnuolo allegedly used an account known as “AlphaRaccoon” to place trades on Polymarket. According to the filings, he participated in at least 23 contracts tied to the platform’s the “2025 Year in Search List,” including markets such as “#1 Searched Person on Google this year” and “Top 5 Most Searched People on Google 2025.”
The complaints alleged that Spagnuolo earned approximately $1.2 million in profits from Polymarket trades based on his access to inside information. “As alleged, Spagnuolo violated the duties he owed to his employer and used Google’s confidential business information to make more than $1.2 million in trading profits on Polymarket,” U.S. Attorney Jay Clayton said in a press release. “Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted.”
CFTC Chair Michael Selig also said in a Wednesday statement that the complaint against the Google employee reflects the agency’s “commitment to rooting out insider trading and promoting market integrity in prediction markets.”
Spagnuolo, a 36-year-old Italian citizen residing in Switzerland, faces charges of commodities fraud, wire fraud, and money laundering, which carry maximum prison sentences of 10 years, 20 years, and 20 years, respectively. The CFTC, meanwhile, is seeking civil monetary penalties, restitution and trading bans against Spagnuolo. Spagnuolo was arrested in New York on Wednesday. According to ABC News, he did not enter a plea and was released on a $2.25 million bond.
A Google spokesperson told The Block that the company has placed Spagnuolo on leave and is cooperating with law enforcement in its investigation. “The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies. We’ve placed the employee on leave and will take the appropriate action,” said the Google spokesperson.
Polymarket wrote in a post on X that its “market integrity infrastructure” flagged the trader. “With 2 out of 2 arrests in this industry resulting from our criminal referrals, Polymarket has emerged as the enforcement leader. Blockchain trading is transparent, traceable, and bad actors leave footprints,” Polymarket said.
The case against Spagnuolo follows another Polymarket-related insider trading case last month, where an active-duty U.S. soldier was accused of using confidential information to place bets ahead of the capture of former Venezuelan President Nicolás Maduro earlier this year.
[The Block]
Aster has launched BTCU and ETHU perpetual contracts.
Aster has launched BTCU and ETHU perpetual contracts at 18:00 (Beijing Time) on May 27, becoming one of the first perpetual trading pairs to go live via Aster’s Listing Vote process approved by Aster Validators.
To celebrate the launch, Aster will run a $50,000 $U trading rewards campaign from 18:00 (Beijing Time) on May 27 to 22:00 (Beijing Time) on June 2. The $50,000 total prize pool is split equally—$25,000 $U for BTCU and $25,000 $U for ETHU—with rewards distributed proportionally based on each user’s share of trading fees generated on the respective trading pair.
During the campaign period, BTCU and ETHU perpetual trading pairs will also enjoy a 1.5x points multiplier.
Today’s Market Pulse
The market is witnessing a divergence between retail selling pressure and selective institutional accumulation, with ETF outflows continuing despite some notable buying during the dip.
Key Themes
ETF Bloodbath Continues
Bitcoin and Ethereum spot ETFs are experiencing persistent outflows, with Bitcoin seeing 8 consecutive days of net outflows totaling $733 million, while Ethereum ETFs face their 12th consecutive day of outflows at $67.15 million. This sustained selling pressure from traditional finance channels is weighing heavily on both assets, despite BlackRock’s IBIT and Fidelity’s ETHA remaining the dominant players in their respective markets.
Institutional Divergence on Bitcoin
While Cardone Capital increases its Bitcoin holdings by 130 BTC during the market correction, signaling contrarian confidence, VanEck CEO warns that 2026 will likely be a correction year within the halving cycle, noting a lack of catalysts for significant price increases. This divergence suggests sophisticated investors are parsing the market differently, with some viewing the current dip as a buying opportunity while others brace for further downside.
Exchange Consolidation & Risk Control Concerns
The crypto exchange landscape is seeing both consolidation and calls for improved risk control. WeHub is acquiring Flybit exchange to expand its virtual asset footprint, while Huobi HTX‘s CEO calls on exchanges to optimize risk control logic after users faced incorrect flags, restricted fund flows, and frozen accounts. This points to ongoing industry maturation amid growing pains.
Derivatives Market Activity
Despite spot market weakness, derivatives activity is showing signs of life. Kalshi‘s fee revenue surged to $5.69 million, surpassing Hyperliquid, while Aster launched new BTCU and ETHU perpetual contracts with a $50,000 trading rewards campaign, indicating sustained interest in leveraged trading products.
RichSilo Verdict
Smart money should monitor the ETF outflow trend for signs of capitulation while watching for institutional accumulation on dips. The divergence between retail selling and selective institutional buying could mark a bottoming phase. Key catalysts to watch include the June Fed meeting, potential spot Ethereum ETF approval in Hong Kong, and regulatory clarity on prediction markets. The risk of a 2026 correction per VanEck’s comments warrants portfolio positioning that allows for participation in any upside while protecting against further downside.
