Unitree's IPO Values It at $9B. Hyperliquid Traders Bid $38B.
Unitree priced its Shanghai IPO near $9 billion. On Hyperliquid, a pre-listing perp values the robot maker at $38 billion, four times higher.
Unitree priced its Shanghai IPO near $9 billion. On Hyperliquid, a pre-listing perp values the robot maker at $38 billion, four times higher.
One pre-market trade at a 29.96% discount dragged Hyperliquid's SK Hynix perp to $927, an hour before Seoul opened and crashed harder.
Kalshi's annualized revenue crossed $2 billion, triple its November mark, and it is in early talks with banks about an IPO. The catch: the regulated status driving the bull case is the same one under attack in court.
Crypto built a $557M shadow market for SpaceX before its Nasdaq debut, pricing it above the IPO. Then the tokenized shares fell apart on Binance, Bybit and Bitget.
Wallets holding at least 100 million DOGE just hit an all-time concentration high. The buying ran through DOGE's 23% rebound, and 739 transfers above $100K landed in a single day on April 28.
88 trades over nine months. Average price: $350. The stock is at $170 now. The sales stopped in January. The losses started in Q1.
Two of crypto's biggest private companies pulled their IPO plans within months of each other. The only firm that went through with it is now trading 36% below its listing price.
The FSC's emergency inspection found three of South Korea's five major platforms reconciling balances only once every 24 hours. The trigger: Bithumb crediting 620,000 BTC — roughly $56 billion — to 249 users instead of 620,000 Korean won. Regulators have now mandated five-minute reconciliation cycles, automatic kill switches, monthly external audits, and daily public disclosure of results. The deadline is May 2026.
The deal gives Payward all three CFTC licenses needed to run a full-stack U.S. crypto derivatives platform. It follows Deutsche Börse's $200 million stake in Kraken earlier this week.
Payward grew revenue 3% year-over-year while Bitcoin fell 22% and industry spot volume dropped 38%. Futures DARTs jumped 51%. But adjusted EBITDA collapsed from $168 million to $18 million because the company spent the quarter buying everything it could find.
The largest IPO in history just disclosed the fourth-largest corporate Bitcoin position. SpaceX is targeting a $2 trillion valuation, a June Nasdaq debut under ticker SPCX, and up to $75 billion in capital raised. Goldman Sachs and Morgan Stanley are running the books.
Hyperliquid's SPACEX-USDH perpetual crashed 45% on Thursday, from $2,277 to $1,254 in a single 30-minute window. It liquidated 405 users across 1,393 positions, erasing $1.51 million. The median liquidated position held $31 in margin. The market had $4.87 million in daily volume and under $2.9 million in open interest. One candle ate all of it.
Two months after accidentally sending 620,000 BTC worth roughly $42 billion to 249 users instead of 620,000 Korean won each, the exchange has exhausted informal recovery options and turned to the courts.
The crypto-friendly neobank has told investors it is aiming for a valuation up to 167% higher than its November round. The listing itself is still more than two years away.
A Form 10 SEC filing from March 31 reveals the amended terms of the Ripple-Gemini credit facility. Gemini must hold at least $50 million in RLUSD, use it as collateral, and meet minimum usage thresholds. Fail to reduce borrowings by July 2, and the interest rate climbs to 10%.
Crypto IPOs and public listings have become a defining theme as exchanges and infrastructure firms move from private funding to the public markets. This tag tracks Circle’s public debut, Kraken and Payward’s listing preparation, and the pipeline of mining, custody, and stablecoin companies weighing offerings. Coverage focuses on filings and valuations, the investor demand that signals institutional appetite, and what going public means for companies operating under permanent regulatory scrutiny. Coinliva follows the filings, the debuts, and the market reception for crypto’s move onto Wall Street.