Token | Trading Volume 【TRUMP】29.25 million 【CORE】6.26 million 【FIL】20.20 million 【ONDO】6.30 million 【CHZ】4.79 million 【SUI】92.63 million 【MON】20.98 million 【BTC】3.10 billion 【DYDX】1.48 million 【OORT】34,770.64

According to market sources, OpenAI CEO Sam Altman privately stated this year that he hopes the company can complete its IPO as early as the fourth quarter. However, CFO Sarah Friar revealed to several colleagues that she believes the company is not yet ready for an IPO by 2026, citing reasons including the required processes and organizational workload, as well as the financial risks associated with high-value computing power purchase commitments. Internally, Altman has repeatedly excluded Friar from financial decision-making. In recent months, he did not invite Friar to participate in discussions with a top investor regarding server procurement, with one attendee describing his absence as "obvious and awkward"—Friar had previously participated in meetings on the same topic. Since August of last year, Friar no longer reports directly to Altman, but instead reports to Fidji Simo, head of applications, breaking the convention of large companies where CFOs typically report directly to the CEO. Financially, OpenAI has committed to investing over $600 billion in cloud servers over the next five years, internally predicting that it will burn through over $200 billion in cash before achieving positive cash flow. The $122 billion funding commitments announced this week primarily come from Amazon and Nvidia, both of which are also OpenAI's cloud server and chip suppliers, forming a circular capital arrangement. Furthermore, Anthropic has surpassed OpenAI as the preferred AI model for the enterprise and developer markets, and OpenAI's revenue growth is slowing. IPO preparations have quietly begun: OpenAI has engaged the law firms Cooley and Wachtell Lipton Rosen & Katz and has held preliminary discussions with the IPO teams of Goldman Sachs and Morgan Stanley. Altman privately expressed a desire to list earlier than Anthropic, which is currently discussing an IPO plan for the fourth quarter of this year. Subsequently, Altman and Friar executives issued a joint statement saying they were "fully aligned on computing power strategy."

According to Hyperbot data, Huang Licheng (aka "Machi Dage") closed all his long positions in BTC and HYPE this morning. He currently holds a 25x leveraged long position in Ethereum (ETH) of 8200 ETH at a liquidation price of $2002, with a total position value of $17.54 million and a floating profit of $465,000. He also placed 33 limit sell orders for ETH in the $2141-$2200 range. Looking at his trading data over the past week, Huang has closed 10 positions, with 8 of them profitable, resulting in an 80% win rate.

According to Huoxun Finance, the dYdX community voted to approve a proposal to "gradually close 12 trading markets," with a 91.07% approval rate. The 12 trading markets to be gradually closed are: JASMY-USD, KOMA-USD, LINEA-USD, ME-USD, NEIRO-USD, PIPPIN-USD, RAY-USD, TRB-USD, TRY-USD, USDE-USD, YFI-USD, and ZEREBRO-USD.

According to Huoxun Finance, the total open interest of whales on the Hyperliquid platform is currently $3.575 billion, with long positions accounting for $1.841 billion (51.5%) and short positions accounting for $1.734 billion (48.5%). The profit/loss for long positions is -$71.4688 million, and the profit/loss for short positions is $79.1495 million. Furthermore, the whale address 0xa5b0..41 previously went all-in on ETH at a price of $2148.7, and currently has an unrealized profit/loss of -$2.4224 million.