Crypto Morning Brief: BlackRock Plans to Invest Billions of Dollars in SpaceX’s IPO; This Week, Large Token Unlocks Are Scheduled for PYTH, ZRO, KAITO, and Others
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Crypto Morning Brief: BlackRock Plans to Invest Billions of Dollars in SpaceX’s IPO; This Week, Large Token Unlocks Are Scheduled for PYTH, ZRO, KAITO, and Others
Gates Foundation liquidated all its Microsoft shares in Q1, valued at $3.2 billion.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
Iran Launches Hormuz Safe, a Maritime Insurance Platform Settling in Bitcoin and Other Cryptocurrencies
According to Crypto Briefing, Iran’s Ministry of Economic Affairs recently launched Hormuz Safe—a state-backed digital maritime insurance platform offering insurance services to vessels transiting the Persian Gulf and Strait of Hormuz, with settlements conducted exclusively in bitcoin and other cryptocurrencies—bypassing the SWIFT network and Western financial intermediaries.
The Iranian government estimates that if the platform captures a significant share of the Persian Gulf maritime insurance market, annual revenue could exceed $10 billion. However, it faces challenges related to international recognition: vessels using Iranian state-endorsed insurance certificates may face regulatory rejection in jurisdictions such as the Netherlands and Singapore, while entities interacting with the platform risk exposure to U.S. secondary sanctions. Analysts suggest its initial customer base will likely be limited to Iranian-flagged vessels and operators with minimal exposure to U.S. financial pressure.
Two Trump-Nominated Fed Officials Oppose Powell’s “Indefinite” Tenure as Acting Chair
According to the Financial Times, two Federal Reserve Board members nominated by President Trump—Michelle Bowman and Christopher Waller—jointly opposed allowing Jerome Powell to serve as acting Fed chair “without time limit.”
This disagreement underscores deepening political fissures within the central bank amid sustained White House pressure. Powell’s second term officially ended on Friday, May 15; he was appointed acting chair pending the swearing-in of his confirmed successor, Philip Jefferson.
In a joint statement, Bowman and Waller said they supported Powell serving as acting chair on a short-term basis in principle, but objected to an arrangement “without time limit.” Bowman cast a dissenting vote, while Waller abstained. Both recommended limiting the acting tenure to a “clear and finite timeframe”—at least one week, and no longer than one month.
U.S. NCUA Proposes Rules for Stablecoin Issuers; Public Comment Period Ends July 17
Per an official announcement, the U.S. National Credit Union Administration (NCUA) issued a Notice of Proposed Rulemaking (NPRM) on May 15, establishing operational and risk management standards for Payment Stablecoin Issuers (PPSIs) licensed by the NCUA, pursuant to the GENIUS Act. NCUA Chairman Kyle Hauptman stated the rules aim to ensure credit unions and their bank subsidiaries operate under consistent standards and remain competitive. The proposed rule has been published in the Federal Register, and public comments are due by July 17, 2026.
Samsung Electronics Labor and Management to Begin Second Round of Mediation on May 18
According to Yonhap News Agency, labor and management at Samsung Electronics will commence the second round of post-filing mediation at 10 a.m. local time on May 18.
Prior to this, the labor union announced plans to launch an 18-day general strike starting May 21, making the outcome of mediation critical to averting industrial action. Under mediation by the Central Labor Relations Commission of the Ministry of Employment and Labor, marathon negotiations took place from May 11–13, but failed to narrow differences over performance bonus payment criteria, resulting in a breakdown. On May 14, the Commission requested the union resume talks on May 16—but the request was rejected. This time, both parties accepted the mediation invitation, restarting negotiations after a five-day pause.
Lee Jae-yong, Chairman of Samsung Electronics, returned to South Korea on May 16 following an overseas business trip. Upon arrival at Gimpo Business Aviation Center in Seoul, he urged the union to return to the negotiating table. Lee emphasized unity and shared purpose: “Now is the time to unite our strength and move forward together in the same direction. Let us once again give our utmost effort—and truly take pride in being ‘Samsung people.’” Minister of Employment and Labor Kim Young-hoon separately met with union and management representatives on May 15 and 16 to explain the government’s position and facilitate consensus.
Gates Foundation Fully Exits Microsoft Stock in Q1, Realizing ~$3.2 Billion
Per filings submitted to the U.S. Securities and Exchange Commission (SEC), the Bill & Melinda Gates Foundation Trust sold its remaining ~7.7 million shares of Microsoft stock during Q1 2026, realizing approximately $3.2 billion at current market prices. As of quarter-end, the foundation holds zero Microsoft shares.
Market analysts note this full exit aligns with Bill Gates’ recent charitable planning trajectory. In May 2025, Gates announced plans to wind down the foundation’s operations over the next 20 years, dedicating all assets to philanthropy—with the goal of permanently closing the foundation by December 31, 2045. Total charitable disbursements during this period are projected to exceed $200 billion.
NVIDIA Adds ~$1.78B to CoreWeave Stake in Q1; Initiates Positions in Coherent and Generate Biomedicines
Per the latest 13F filing, NVIDIA’s proprietary investment portfolio held equity securities valued at ~$18.37 billion as of March 31, 2026—up sharply from $13 billion at year-end 2025. Holdings remain highly concentrated in AI-ecosystem-related names (semiconductors, cloud compute, EDA, optics, networking, biotech).
Notably, NVIDIA increased its stake in CoreWeave by 94.5% to ~47.21 million shares in Q1, adding ~$1.78 billion in value. It also initiated new positions in Coherent Corp. (~7.8 million shares) and Generate Biomedicines (~833,000 shares).
Intel remains its largest holding, with over 214.7 million shares owned. This reflects CEO Jensen Huang’s strategic commitment to supporting the entire AI ecosystem—from chips to cloud computing, networking, photonics, and drug discovery.
Q1 13F Filings: Abu Dhabi Sovereign Fund Aggressively Buys IBIT; Harvard Fully Exits Ethereum ETF
Per The Block, multiple sovereign wealth funds, university endowments, and traditional banks disclosed their 13F holdings for Q1 2026:
Mubadala Investment Company—the Abu Dhabi sovereign wealth fund—increased its holdings in BlackRock iShares Bitcoin Trust ETF (IBIT) from 12.7 million to 14.72 million shares, adding over $90 million, bringing total value to ~$566 million (a 16% increase quarter-on-quarter). Its subsidiary, the Abu Dhabi Investment Council (ADIC), maintained its 8.21 million-share IBIT position, valued at ~$316 million.
University endowment crypto ETF allocations remained largely stable:
- Harvard University Endowment holds 3.04 million IBIT shares (~$117 million), down 43% from 5.35 million at year-end 2025 (having already trimmed 21% in Q4). IBIT is no longer its top crypto holding. It fully exited its $86.8 million position in BlackRock’s spot Ethereum ETF established last quarter.
- Dartmouth College holds 201,500 IBIT shares (~$7.7 million, flat QoQ); shifted its Ethereum ETF exposure from Grayscale Ethereum Mini Trust to Grayscale Ethereum Staking ETF (holding 178,100 shares unchanged); and added 304,800 shares of Bitwise Solana Staking ETF (~$3.67 million)—becoming the first university endowment publicly signaling interest in crypto assets beyond bitcoin and ether.
- Brown University maintains 212,500 IBIT shares; Emory University simplified its bitcoin fund allocation, selling 4,450 IBIT shares and increasing its Grayscale Bitcoin Mini Trust stake to 1.35 million shares.
Traditional financial institutions actively rebalanced: Royal Bank of Canada (RBC) added to its IBIT spot position while hedging with put/call options; Scotiabank exited Trump-linked bitcoin stocks before buying 214,000 IBIT shares; Barclays holds ~4.46 million IBIT shares outright plus large option positions; Hong Kong-based Laurore reduced its IBIT holdings from 8.78 million to 6.85 million shares.
SBI Securities and Rakuten Securities Plan to Launch Crypto Investment Trust Products
Per the Nikkei, SBI Securities and Rakuten Securities have explicitly stated plans to begin offering cryptocurrency investment trust products upon regulatory approval.
A Nikkei survey of 18 major Japanese brokerages found 11 indicated they would consider launching such products once a formal regulatory framework is established—including Nomura Securities, which is actively evaluating entry.
SBI Securities plans to distribute funds developed by its subsidiary SBI Global Asset Management, covering ETFs and investment trusts focused on high-liquidity cryptocurrencies like bitcoin and ether—end-to-end development and distribution handled internally. Rakuten Securities intends to co-develop products with group affiliates including Rakuten Investment Management and enable seamless trading via its smartphone app.
Michael Saylor Urges Shareholders to Vote for STRC to Become a Biweekly Dividend Digital Credit Security
Michael Saylor, Founder and Executive Chairman of Strategy, posted on X that perpetual preferred stock STRC has the potential to become the only security among the world’s ~24,000 dividend-paying instruments to offer “biweekly dividends,” urging shareholders to vote promptly. Saylor stated that if approved, the proposal would make history and help establish a “$100 standard” for digital credit.
(Note: STRC was designed to maintain a trading price near its $100 par value, enabling continuous fundraising via ATM-style market-price issuances.)
BlackRock Considering Multi-Billion-Dollar Investment in SpaceX IPO
Per The Information: BlackRock is considering investing billions of dollars in SpaceX’s upcoming IPO.
Major Token Unlock Events for PYTH, ZRO, KAITO, and Others This Week
PYTH unlocks ~$92.46 million worth of tokens on May 19, representing 36.96% of its circulating supply;
ZRO unlocks ~$32.65 million worth of tokens on May 20, representing 5.07% of its circulating supply;
MBG unlocks ~$8.82 million worth of tokens on May 22, representing 8.09% of its circulating supply;
KAITO unlocks ~$8.58 million worth of tokens on May 20, representing 4.70% of its circulating supply;
LMTS unlocks ~$1.61 million worth of tokens on May 22, representing 5.83% of its circulating supply;
SOON unlocks ~$3.44 million worth of tokens on May 23, representing 4.60% of its circulating supply;
UDS unlocks ~$3.32 million worth of tokens on May 21, representing 1.15% of its circulating supply;
YZY unlocks ~$6.24 million worth of tokens on May 18, representing 4.46% of its circulating supply.
Market Data
Recommended Reading
Exclusive Interview with Eric Trump: “My Dad Is My Best Friend”—America’s Bid to Win the Ultimate Race in AI, Energy, and Bitcoin
https://www.techflowpost.com/zh-CN/article/31589
This exclusive interview with Eric Trump explores the Trump family’s cryptocurrency strategy, America’s competitive advantages in artificial intelligence (AI), energy, and bitcoin, and the family’s ties to the crypto industry. Eric also shares intimate reflections on his relationship with his father and childhood memories, discussing how *The Art of the Deal* shaped his business philosophy.
A Century Before Swift and Blockchain, the Chinese Built Their Own Cross-Border Financial Network
https://www.techflowpost.com/zh-CN/article/31590
This article details the history, operational mechanics, and modern relevance of the “Qiaopi”—a long-overlooked financial infrastructure. Through accounts of its origins, evolution, mechanisms, and wartime contributions, it highlights the Qiaopi as a decentralized, credit-based cross-border financial network—and draws comparisons with modern systems like Swift and blockchain to underscore its enduring significance in credit architecture.
Trump Conducted 3,600 Stock Trades in Q1—“Shouted Out” Nvidia and Dell After Buying Them, Sparking Conflict-of-Interest Controversy
https://www.techflowpost.com/zh-CN/article/31592
This article examines Trump’s 3,642 stock trades in Q1 2026—averaging ~60 per day—breaking the precedent set since President Johnson of using a “blind trust.” Trump significantly reduced positions in Amazon, Meta, and Microsoft, while heavily investing in the AI chip supply chain—including Nvidia, Broadcom, and Synopsys—aligning closely with the White House’s domestic chip manufacturing policy agenda. His non-blind trust structure has ignited constitutional debate, with critics citing tight temporal alignment between his trades and policy actions as evidence of conflict-of-interest risk. The White House maintains all transactions comply with the STOCK Act.
$CBRS Surges 90%: Largest U.S. Tech IPO Since Uber, Priced Two Weeks Early by Hyperliquid
https://www.techflowpost.com/zh-CN/article/31593
This article covers Cerebras’ Nasdaq IPO, priced at $185, oversubscribed 20x, opening at $350, peaking at $386 intraday, and closing at $311—a near-90% gain. It marks the largest U.S. tech IPO since Uber’s in 2019, raising $5.55 billion. Crypto-native investors participated early via Hyperliquid’s Trade.xyz Pre-IPO perpetual contracts, achieving $127 million in pre-listing volume and $66 million in open interest. Hyperliquid’s narrative may be further validated by launching Pre-IPO contracts for other high-profile companies—including SpaceX and OpenAI.
Bankless Interview: Private Equity Veteran Reveals Anthropic’s Primary Market Trading Secrets
https://www.techflowpost.com/zh-CN/article/31599
This article delves into insider trading dynamics surrounding star startups like Anthropic in private secondary markets—exposing structural flaws, fraud risks, complex post-IPO settlement issues, and legal uncertainties around tokenized equity and perpetual contracts. Patagon founder also shares hands-on experience and strategic insights from operating in secondary markets.
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