Crypto Morning Brief: Goldman Sachs Fully Exited XRP- and Solana-Related ETFs in Q1; Meta to Lay Off 10% of Workforce on Wednesday
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Crypto Morning Brief: Goldman Sachs Fully Exited XRP- and Solana-Related ETFs in Q1; Meta to Lay Off 10% of Workforce on Wednesday
Ethereum Foundation faces escalating talent attrition, with multiple core researchers resigning in succession.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Updates
Trump’s Visit to China Yields Historic Agreements; Major Breakthrough in U.S.-China Relations
According to an official announcement by the White House (@WhiteHouse), U.S. President Donald Trump conducted a state visit to China this week—the first since 2017—and reached consensus with Chinese President Xi Jinping on multiple issues:
On economic and trade cooperation, both sides established the U.S.-China Trade Commission and the U.S.-China Investment Commission as core mechanisms for bilateral economic relations. China approved the initial purchase of 200 Boeing aircraft and pledged to buy at least $17 billion worth of U.S. agricultural products annually from 2026 through 2028. It also reinstated imports of U.S. beef and poultry and committed to resolving supply-chain issues concerning critical minerals such as rare earths.
On geopolitical matters, both sides agreed that Iran must not acquire nuclear weapons and reaffirmed their shared goal of denuclearizing the Korean Peninsula. President Xi has been invited to visit Washington this autumn, and the two countries will mutually support each other’s hosting of the G20 and APEC summits.
South Korean Court Partially Approves Samsung Electronics’ Request for Injunction Against Union-Planned Strike
According to Yonhap News Agency, a South Korean court partially granted Samsung Electronics’ request for an injunction against a planned union strike. Following the ruling, Samsung’s stock reversed losses to rise, and the KOSPI index turned positive—recovering from its prior 4.68% decline.
Meta to Cut 10% of Workforce Wednesday; 7,000 Employees to Transfer to AI Divisions
According to Reuters, Meta’s Chief People Officer Janelle Gale sent an internal memo to employees this Monday disclosing details of this week’s restructuring plan. The company will cut 10% of its workforce on Wednesday and reassign 7,000 employees to AI-related divisions—including Applied AI Engineering (AAI) and the Agent Transformation Accelerator (ATA)—while flattening management layers. This round of layoffs and transfers will affect approximately 20% of Meta’s total workforce. Additionally, the company has already closed 6,000 open positions. As of March 31 this year, Meta employed roughly 78,000 people. The restructuring aims to accelerate Meta’s full transition to AI-native workflows and develop AI agents capable of autonomously completing human tasks.
Tether Invests in Cross-Border Financial Platform LemFi to Advance Stablecoin-Based Remittances in Emerging Markets
According to an official announcement, Tether has invested in cross-border financial platform LemFi to promote stablecoin-powered remittance services in emerging markets and expand financial inclusion. As disclosed, LemFi plans to integrate USDT into its core remittance channel as a settlement layer, replacing traditional multi-day SWIFT settlements with near-instant, low-cost alternatives across select African and Asian markets. Tether stated that this investment will also support LemFi’s expansion of stablecoin infrastructure and its gradual integration into broader product offerings.
Ethereum Foundation Faces Escalating Talent Exodus, with Multiple Core Researchers Departing
According to The Block, the Ethereum Foundation has experienced renewed talent attrition, with researchers Carl Beek and Julian Ma announcing their resignations this Monday. Beek served for seven years and led development of Ethereum’s Beacon Chain, making significant contributions to Ethereum’s transition to Proof-of-Stake (PoS). Ma served for approximately four years, contributing to mechanism design, cryptoeconomics, and protocol scalability, and co-authored EIP-7805—an initiative aimed at enhancing Ethereum’s censorship resistance.
Previously, Co-Executive Director Tomasz K. Stańczak resigned in February this year, and several other senior figures—including Josh Stark, Barnabé Monnot, and Tim Beiko—have also departed.
Goldman Sachs Fully Exits XRP- and Solana-Related ETFs in Q1; Reduces Bitcoin and Ethereum ETF Holdings
Goldman Sachs’ Q1 2026 13F filing with the U.S. Securities and Exchange Commission (SEC) shows it significantly reduced its crypto-asset ETF holdings, fully exiting all XRP-related ETFs and all Solana ETFs offered by Grayscale, Bitwise, and Fidelity.
Its Bitcoin ETF holdings still include approximately $690 million in BlackRock’s IBIT and about $25 million in Fidelity’s FBTC—both down roughly 10% quarter-on-quarter. Its Ethereum ETF holdings declined more sharply: iShares Ethereum ETF (ETHA) holdings were cut by about 70%, leaving approximately $114 million.
In addition, Goldman Sachs increased its positions in Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal during the same period, while reducing stakes in Strategy and Riot Platforms.
Zerohash Secures Dual European Licenses Under MiCA and EMI Frameworks, Becoming First Compliant Stablecoin Infrastructure Provider
According to The Block, Zerohash Europe—a crypto infrastructure provider—has received an Electronic Money Institution (EMI) license from the Dutch Central Bank (DNB), becoming the first firm to hold both a European MiCAR license and EMI authorization. Zerohash previously obtained its MiCAR license in October 2025. This dual licensing permits it to legally provide crypto-asset services and process traditional electronic money flows across the European Economic Area (EEA), enabling direct service to banks, brokers, fintech firms, and payment platforms.
The company has already partnered with Interactive Brokers Europe and has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. Additionally, Zerohash is reportedly seeking $250 million in funding at a $1.5 billion valuation.
Galaxy Digital Obtains New York BitLicense; Total Global Licenses Exceed 50
According to The Block, Galaxy Digital’s subsidiary GalaxyOne Prime NY has secured both a BitLicense and a money transmitter license from the New York State Department of Financial Services (NYDFS), officially authorizing it to offer digital asset trading and custody services to residents, institutions, and businesses in New York State.
Standard Chartered Plans Acquisition of Zodia Custody’s Crypto Custody Business
According to Bloomberg, Standard Chartered intends to acquire the crypto custody business of its majority-owned subsidiary Zodia Custody Ltd. to expand its digital asset service coverage. The non-binding acquisition proposal, announced by Standard Chartered, has already been accepted by Zodia Custody’s other shareholders and noteholders. Bloomberg previously reported this transaction proposal in April.
Bitcoin Miner HIVE Spends $58 Million on Toronto Land to Build AI Compute Center; Stock Surges Over 40%
Bitcoin mining firm HIVE Digital Technologies acquired land in the Toronto area for $58 million to build an industrial-scale AI compute center via its BUZZ High Performance Computing subsidiary. Once fully operational, the facility is expected to support approximately 320 MW of capacity and over 100,000 GPUs—potentially ranking among Canada’s largest computing “super-factories.”
Following the announcement, HIVE’s stock surged nearly 45%. Earlier this month, HIVE raised $115 million to expand its global data center footprint and GPU production capacity.
Google and Blackstone Launch Joint AI Cloud Venture, Targeting CoreWeave
According to The Wall Street Journal, Alphabet’s Google and Blackstone Group plan to jointly establish an artificial intelligence cloud company built around Google’s custom chips, directly competing with CoreWeave and others. Blackstone will invest $5 billion in equity capital and hold majority ownership. The deal was formally announced Monday local time; the new company’s name remains undisclosed.
Market Data
Recommended Reading
AI Good News for Senior Staff? 40% of CEOs Plan to Eliminate Entry-Level Roles—Young Professionals Face Greater Uncertainty
https://www.techflowpost.com/zh-CN/article/31611
This article discusses how AI technology is reshaping workplace structures, triggering broad contraction in entry-level roles. Survey findings show 43% of CEOs plan to reduce entry-level positions within the next one to two years, shifting toward mid- and senior-level talent. AI is gradually supplanting routine tasks traditionally performed by junior staff. Most enterprises remain in the AI pilot phase, with only 27% of CEOs reporting AI ROI meeting or exceeding expectations—highlighting persistent challenges in scaling AI deployment.
$SPCX Listed on Hyperliquid: SpaceX Isn’t Public Yet—but Is Already Priced at $2.4 Trillion On-Chain
https://www.techflowpost.com/zh-CN/article/31612
This article details SpaceX’s planned IPO—the largest in history—with a target valuation of $1.75 trillion and fundraising goal of $75 billion. On-chain pricing platform Trade.xyz launched a pre-IPO perpetual contract for SpaceX, $SPCX, priced initially at $150—closely aligned with the target valuation. After listing, $SPCX surged 44% to $216, implying a $2.56 trillion valuation—well above SpaceX’s own target. On-chain pricing and trading of marquee U.S. IPOs have become a new focal point for the crypto industry, attracting broader platform participation and fueling growth of this emerging category.
Will BTC Hit $48,000 in October? Saylor’s Private Event Guest Bets on Another 50% Drop
https://www.techflowpost.com/zh-CN/article/31615
This article analyzes Bitcoin’s price trajectory, market dynamics, AI’s impact on cryptocurrencies, and Bitcoin’s long-term development path. Drawing on insights from Michael Terpin, it explores bottom predictions for Bitcoin, the super-cycle theory, potential threats to blockchain posed by quantum computing and AI, and institutional and Wall Street strategies in Bitcoin markets. It further examines Bitcoin’s correlation with gold and the Nasdaq, as well as the influence of global liquidity conditions and the U.S. presidential election on Bitcoin cycles.
Anthropic Product Manager Interview: “Claude Dreams in the Background”—We Study Its Emergent Consciousness Like Raising a Child
https://www.techflowpost.com/zh-CN/article/31619
This is an in-depth interview with Alex Albert, Research Product Manager at Anthropic, covering Claude model development, product management methodology, adaptive reasoning and memory mechanisms, personality training for models, and research into consciousness. The article also addresses distinctive features and bottlenecks in AI product development, as well as applications of AI in product management.
Bitcoin Liquidity Plunges 90%; Two Major Market Makers Simultaneously Exit Hyperliquid
https://www.techflowpost.com/zh-CN/article/31620
This article describes how regulatory pressure and withdrawals by major market makers have triggered a sharp liquidity contraction in the cryptocurrency market. Leading market makers Wintermute and Auros Global withdrew nearly $100 million from Hyperliquid, causing dramatic liquidity declines for major cryptocurrencies including BTC and ETH. This withdrawal follows calls by CME and ICE for U.S. regulators to intensify oversight of Hyperliquid. Hyperliquid’s anonymous trading model, oil perpetual contracts, and Pre-IPO contracts have drawn attention and concern from traditional financial markets. Future evolution of the liquidity gap will depend on regulatory policy direction.
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