Author: rb809rb

  • White House Correspondents’ Dinner Postponed After President Evacuated Amid Shots Fired

    White House Correspondents’ Dinner Postponed After President Evacuated Amid Shots Fired

    President Donald Trump and First Lady Melania Trump were rushed off stage and evacuated from the White House Correspondents’ Association Dinner after shots were reportedly fired at the Washington Hilton ballroom on Saturday night.

    Trump announced on Truth Social after the evacuation that he and Melania were safe, and that the event will be rescheduled within the next 30 days after law enforcement requested that attendees exit the premises.

    “Law Enforcement has requested that we leave the premises, consistent with protocol, which we will do, immediately. I will be giving a press conference in 30 minutes from the White House Press Briefing Room,” he wrote. “The First Lady, plus the Vice President, and all Cabinet members, are in perfect condition. We will be speaking to you in a half an hour. I have spoken with all the representatives in charge of the event, and we will be rescheduling within 30 days. President DONALD J. TRUMP.”

    President Trump and the First Lady were seated on the stage with the head of the White House Correspondents Association when the loud sounds were heard inside the ballroom. It was not immediately clear what the loud sounds that led to the evacuation were attributed to, but the president was removed from the dinner.

    Trump took to Truth Social after he was evacuated, writing, “Quite an evening in D.C. Secret Service and Law Enforcement did a fantastic job. They acted quickly and bravely. The shooter has been apprehended, and I have recommended that we ‘LET THE SHOW GO ON’ but, will entirely be guided by Law Enforcement. They will make a decision shortly. Regardless of that decision, the evening will be much different than planned, and we’ll just, plain, have to do it again. President DONALD J. TRUMP.”

    A source told CNN that Trump is safe, and that a shooter is in custody; the condition of the suspect is unknown. A White House official reiterated Trump’s sentiments to MS Now that the he is still planning to deliver his speech, though it’s unclear when he will deliver remarks.

    The program will reportedly resume, MS Now and C-SPAN both detailed on their broadcasts. Trump was attending the event for the first time since 2011.

    The room, which was filled with journalists, politicians, and celebrities, was not evacuated following the incident. Initial concern at the gala seemed to fade as security swept the ballroom and guests began to converse as they waited for any instructions.

    A news executive on the scene shared details from inside the venue with The Hollywood Reporter, noting, “We heard shots and people were huddled under the tables and threw themselves on the ground as soon as the shots rang out. But the band kept playing. There was a lot of panic in one corner of the room, and it seemed like in other corners no one could hear what was going on. Some people here really want to get the hell out, but at the moment they are blocking everyone from leaving.”

    The exec continued, “Everyone is in the phone right now but reception here is very spotty. There’s a pack of CNN reporters Huddled around [CNN chief] Mark Thompson, all of them on their phones. It’s like controlled pandemonium.”

    The Secret Service issued a statement confirming they are investigated the incident: “The U.S. Secret Service, in coordination with the Metropolitan Police Department, is investigating a shooting incident near the main magnetometer screening area at the White House Correspondents’ Dinner. The president and the first lady are safe along all protectees. One individual is in custody. The condition of those involved is not yet known, and law enforcement is actively assessing the situation.”

    On March 2, the president posted to his Truth Social account that this would be the year he would head to the Washington Hilton and step onto the stage in front of the people he has long referred to as the “enemy of the people.”

    “In honor of our Nation’s 250th Birthday,” he wrote, “And the fact that these ‘Correspondents’ now admit that I am truly one of the Greatest Presidents in the History of our Country — the G.O.A.T., according to many — it will be my honor to accept their invitation, and work to make it the GREATEST, HOTTEST, and MOST SPECTACULAR DINNER OF ANY KIND, EVER!”

    Trump’s attendance at the event came with controversy as Dan Rather, the Society of Professional Journalists, and 350-plus other journalists and organizations signed a letter calling on the body to “forcefully demonstrate opposition to President Trump’s efforts to trample freedom of the press.”

    More to come.

  • ‘We Will See You in Court’: CFTC Defends Jurisdiction in Massachusetts Kalshi Case

    ‘We Will See You in Court’: CFTC Defends Jurisdiction in Massachusetts Kalshi Case

    CFTC escalates prediction market fight as state challenges intensify across the U.S. The Kalshi case in Massachusetts heightens tensions, with regulators warning states they will see them in court.

    Key Takeaways:

    • CFTC filing asserts exclusive authority over prediction markets, signaling federal dominance over state challenges ahead.
    • Massachusetts case involving KalshiEx highlights conflict where state enforcement threaten unified national derivatives oversight framework.
    • Mike Selig warns states challenging CFTC authority will face litigation, escalating tensions prediction market regulation.

    CFTC ASSERTS EXCLUSIVE CONTROL OVER PREDICTION MARKETS

    The Commodity Futures Trading Commission (CFTC) on April 24 submitted an amicus brief to the Massachusetts Supreme Judicial Court asserting its exclusive authority over U.S. commodity derivatives markets, including event contracts commonly known as prediction markets. The brief relates to Commonwealth of Massachusetts v. KalshiEx LLC, No. SJC-13906.

    The filing indicated the Massachusetts case forms part of the CFTC’s broader push to defend its oversight of prediction markets against state-level challenges. The document detailed the history and structure of the Commodity Exchange Act and explained that Congress established a framework preempting state laws in CFTC-regulated markets. Congress created the agency in 1974 to build a uniform national system for futures trading after fragmented state oversight disrupted market development. Lawmakers also granted the CFTC exclusive authority over futures, options, and swaps traded on regulated exchanges, including event contracts tied to sports, elections, or weather.

    CFTC Chairman Michael S. Selig remarked:

    “Some states continue to pursue ever-escalating, illegal enforcement actions against CFTC-regulated exchanges, despite rulings from multiple courts halting those efforts.”

    LEGAL CLASH WITH STATES THREATENS UNIFIED DERIVATIVES FRAMEWORK

    Recent legal actions highlight the escalating conflict. The CFTC has filed lawsuits against multiple states, including New York, while working with the Department of Justice (DOJ) in broader challenges against state enforcement efforts targeting prediction markets. Courts have already intervened in some cases, including granting a temporary order blocking an Arizona criminal case against prediction market platforms. These developments reflect a growing federal push to halt state-level actions and reinforce a single regulatory framework as disputes over jurisdiction intensify across several states.

    The April 24 filing outlined that applying state gambling laws to swaps traded on CFTC-regulated markets would conflict with federal law and disrupt the uniform regulatory system established by Congress. It further warned that such actions could reintroduce fragmented oversight across jurisdictions.

    “Congress has entrusted the CFTC with the sole authority to regulate commodity derivatives markets, including prediction markets,” Selig further stressed, warning:

    “To any state that seeks to nullify federal law and seize authority over these markets, I say again: we will see you in court.”

    He also addressed the issue on social media platform X, commenting directly on the dispute and specifically naming Massachusetts: “Despite several court decisions blocking states from pursuing unlawful enforcement actions against CFTC-regulated exchanges, some states are still trying to encroach on the CFTC’s exclusive authority over prediction markets. Massachusetts, we’ll see you in court.”

  • ‘Spider-Noir’ Official Trailer Has Nicolas Cage Battling Brendan Gleeson’s Super Villain

    The official trailer for Prime Video’s Spider-Man-based drama series features a gumshoe Nicolas Cage facing off against Brendan Gleeson’s super villain.

    Marking the Oscar winner’s first leading TV series role, Cage plays Ben Reilly, an aging and down-on-his-luck private investigator in 1930s New York, who is forced to grapple with his past life as the city’s one and only superhero. In the new trailer (below), Reilly discovers his powers and faces off against an Irish crime boss (Gleeson), who is apparently Silvermane from the comics. The trailer was dropped in Mexico City for the pop culture festival CCXPMX26.

    The company has a unique presentation for the project: Spider-Noir will be available to stream in two different ways, in “Authentic Black & White” and “True-Hue Full Color” (the original comics were rather muted and monochromatic, but in color).

    The project is based on the comic Spider-Man Noir, but the project is considered a stand-alone story and not part of the Sony movies or the Into the Spider-Verse franchise.

    The full cast includes Lamorne Morris (Fargo), Li Jun Li (Sinners), Karen Rodriguez (The Hunting Wives), Abraham Popoola (Slow Horses), Jack Huston (Boardwalk Empire) and Brendan Gleeson (The Banshees of Inisherin).

    Spider-Noir will premiere May 27, and the episodes will be dropped as a binge release.

    Spider-Noir is produced by Sony Pictures Television for MGM+ and Prime Video. Harry Bradbeer (Fleabag) directed and executive produced the first two episodes. Oren Uziel (The Lost City) and Steve Lightfoot (The Punisher) serve as co-showrunners and executive producers. Uziel and Lightfoot developed the series with the team behind Spider-Man: Into the Spider-Verse: Phil Lord, Christopher Miller and Amy Pascal.

  • Donald and Melania Trump Evacuated From White House Correspondents’ Dinner

    Donald and Melania Trump Evacuated From White House Correspondents’ Dinner

    President Donald Trump and First Lady Melania Trump were rushed off stage and evacuated from the White House Correspondents’ Association Dinner after shots were reportedly fired at the Washington Hilton ballroom on Saturday night.

    President Trump and the First Lady were seated on the stage with the head of the White House Correspondents Association when the loud sounds were heard inside the ballroom. It was not immediately clear what the loud sounds that led to the evacuation were attributed to, but the president was removed from the dinner.

    Trump took to Truth Social after he was evacuated, writing, “Quite an evening in D.C. Secret Service and Law Enforcement did a fantastic job. They acted quickly and bravely. The shooter has been apprehended, and I have recommended that we ‘LET THE SHOW GO ON’ but, will entirely be guided by Law Enforcement. They will make a decision shortly. Regardless of that decision, the evening will be much different than planned, and we’ll just, plain, have to do it again. President DONALD J. TRUMP.”

    The room, which was filled with journalists, politicians, and celebrities, was not evacuated following the incident. Initial concern at the gala seemed to fade as security swept the ballroom and guests began to converse as they wait for any instructions.

    The program will reportedly resume, MS Now and C-SPAN both detailed on their broadcasts. Trump was attending the event for the first time since 2011.

    A source told CNN that Trump is safe, and that a shooter is in custody. A White House official reiterated Trump’s sentiments to MS Now that the he is still planning to deliver his speech, though it’s unclear when he will deliver remarks.

    On March 2, the president posted to his Truth Social account that this would be the year he would head to the Washington Hilton and step onto the stage in front of the people he has long referred to as the “enemy of the people.”

    “In honor of our Nation’s 250th Birthday,” he wrote, “and the fact that these ‘Correspondents’ now admit that I am truly one of the Greatest Presidents in the History of our Country — the G.O.A.T., according to many — it will be my honor to accept their invitation, and work to make it the GREATEST, HOTTEST, and MOST SPECTACULAR DINNER OF ANY KIND, EVER!”

    Trump’s attendance at the event came with controversy as Dan Rather, the Society of Professional Journalists, and 350-plus other journalists and organizations signed a letter calling on the body to “forcefully demonstrate opposition to President Trump’s efforts to trample freedom of the press.”

    More to come.

  • President Trump, Melania Trump and Others Evacuated From White House Correspondents’ Dinner After Shots Fired

    President Trump, Melania Trump and Others Evacuated From White House Correspondents’ Dinner After Shots Fired

    The White House Correspondents’ Association dinner was halted Saturday night as President Trump and first lady Melania Trump were evacuated by the Secret Service after gunshots were heard in the ballroom at the Washington Hilton.

    CNN reported that a shooter is in custody and that Trump and other admininstration officials in attendance were safe.

    CNN, CNBC and other outlets reported that gunshots were heard, prompting the operation to extract Trump and other administration officials who were attending the event.

    CNN’s Wolf Blitzer reported on-air that he heard the gunshots and was thrown to the ground by police for safety. Blitzer said he saw the gunman “shooting randomly” and saw him being tackled by police. He was ushered into a restroom for safety by police. Blitzer said he heard at least six dozen loud “booms.” Blitzer said he left the ballroom to use the restroom. As he walked back to his table, he suddenly heard “a whole bunch of gunshots and someone firing. The next thing I saw were a lot of police officers and other law enforcement grabbing [the gunman] and getting him to the ground.”

    Shortly after 9 p.m. ET, WHCA president Weijia Jiang told the crowd that the program would continue despite the commotion caused by the incident and Trump’s swift departure. However, by 9:20 p.m. ET it was clear that security was clearing out the ballroom, indicating that the event has been formally scrapped.

    The situation sparked immediate on-the-ground reporting from journalists across the media spectrum who took to social media platforms to deliver urgent reports. ABC News’ Rachel Scott called the situation “terrifying” and described the confusion as attendees suddenly looked up to see Secret Service personnel surrounding the president. It all happened “As [WHCA] members here in this ballroom ducked for cover,” Scott reported on Instagram.

    CSPAN coverage indicated that just as guests were finishing the salad course of the dinner, the dais for the event was abruptly cleared out and many of the several thousand attendees of the event dove under tables amid concerns about a major security breach. Witnesses told CSPAN that they heard yelling from the back of the ballroom before the Secret Service swept into the room. On CSPAN’s coverage around the 8:40 p.m. ET mark, shouts of “USA, USA” can be heard from the back of the ballroom.

    The scene outside the Washington Hilton earlier in the night was tense, with protestors chanting about U.S. action in Iran as attendees entered the hotel. Multiple layers of security with Washington, D.C. streets around the hotel closed off and tickets were required to move past several checkpoints in the hotel and facility.

    After shooting, there was initial confusion as to what had happened before journalists were able to reach their news outlets to report the details of what unfolded. CNN, CNBC, CSPAN and other outlets delivered the news of what just happened in the ballroom in telephone interviews with startled journalists who were on site.

    Most of journalism’s top players were in attendance at the annual fundraiser event. Versant CEO Mark Lazarus, ABC News president Almin Karamehmedovic, “Good Morning America” executive producer Simone Swink and Fox News Media CEO Suzanne Scott are among the notables who were seen at pre-parties on Saturday.

    Among the Trump administration officials attending the event were Vice President JD Vance, White House deputy chief of policy Stephen Miller, White House press secretary Karoline Leavitt, Secretary of Defense Pete Hegseth, Tulsi Gabbard, director of national intelligence, and Erika Kirk, CEO of Turning Point USA.

    The Trump administration’s strong showing at the event is in sharp contrast to his actions in his previous time in the White House. The 2026 dinner marks Trump’s first time attending the event, which traditionally features a comedian who roasts the president and Washington establishment. This time around the WHCA booked mentalist Oz Pearlman as the celebrity performer. Pearlman was seen making the rounds with top journalists prominently in the live coverage of the event before the disruption.

    Trump has had a contentious relationship with mainstream journalist since his political ambitions took off in 2015. Since his return to the White House, the Trump administration has been aggressive in challenging journalism conventions, and the President has not let up on his attacks on the integrity and competence of mainstream journalism. Trump has also engaged in litigation with ABC News, CBS News and the Wall Street Journal, among others

    More to come

  • ‘Backrooms’: How Kane Parsons Turned YouTube Project Into “Lonely” A24 Film With 30K-Square-Foot Set

    ‘Backrooms’: How Kane Parsons Turned YouTube Project Into “Lonely” A24 Film With 30K-Square-Foot Set

    Filmmaker Kane Parsons is ready to take Backrooms from YouTube to the big screen.

    The 20-year-old Parsons, who will become A24‘s youngest feature director when the studio releases his horror movie in theaters on May 29, took the stage at CCXP Mexico on Saturday to share insight into his process. Chiwetel Ejiofor, Renate Reinsve, Mark Duplass, Finn Bennett and Lukita Maxwell star in the film that counts James Wan, Shawn Levy and Osgood Perkins as producers and has a script from Will Soodik.

    Backrooms adapts the YouTube series that Parsons began uploading to YouTube as a teen in early 2022. Taking its origins from urban legend and various web posts, the videos centered on an infinite maze of rooms with humming fluorescent lights and yellow wallpaper. In the A24 film, Reinsve plays a therapist who must track down a missing patient in a bizarre dimension.

    Parsons explained that the movie uses the existing series and lore as a jumping-off point to examine its characters. “It does take more of a specific approach, where you’re seeing it through the lens of these specific characters — these individuals living these atomized, lonely lives,” he said. “In the film, there is rarely a moment where there’s more than one or two characters on screen at a given time. It’s a pretty lonely film.”

    The filmmaker recounted teaching himself to use the free, open-source 3D graphics software Blender to create the world of his YouTube videos, which he continued to utilize for the feature. He and the team, including cinematographer Jeremy Cox, were careful to maintain continuity with the web series.

    “I was working in Blender, modeling the sets, and then we would literally go and build them in real time,” Parsons said of making the movie. “We did a lot of tests there to make sure we were getting the general tone that people expected [from] Backrooms. We did 50 wallpaper tests to get the right shape of yellow.”

    Parsons shared behind-the-scenes footage of the massive set getting built and recalled that he eventually had to step away from guiding the set construction to start filming exterior scenes. When he came back two weeks later to see the finished set, it was “the strangest, coolest moment on this project for me.”

    He added, “The set was huge. We built 30,000 square feet of actual backrooms that we could walk around in. Actually, some people were getting lost. It felt like being there, which was really weird.”

    Renate Reinsve from the poster for Backrooms.

    Courtesy of Everett Collection

    Throughout the making of the film, Parsons was careful to maintain his initial logic for this world: “I always try to stay away from the idea that the backrooms is somehow a dreamy headspace thing where, if you turn around, the room could have changed. It preys on the human brain’s ability to map spaces and understand them. The hard part for that is, if you go back the way you came, you will go back the way you came, but it just keeps going and going and going. That’s where the confusion and the convolution goes. So eventually, you just have to give up trying to map it, whereas if it were constantly changing, you would be giving up a lot faster.”

    For Parsons, who described first posting videos to YouTube at age 9 or 10, the Backrooms series struck a chord with audiences because of a “collective anxiety around the system — economic, industrial or otherwise — that has been building for the past few centuries.”

    After praising his film’s cast, the director went on to explain, “The backrooms, to me, has felt aligned with what happens when someone goes through sensory deprivation on the individual level — and you go out in an empty room — and the body, the nervous system needs stimulation so badly [when] it’s deprived of it. It starts to find noise and information in the pattern of the walls and starts to take that noise more seriously than it normally would. It opens its threshold of what it’s willing to accept.”

  • 4 things to watch in Cavaliers-Raptors Game 4

    4 things to watch in Cavaliers-Raptors Game 4

    Brandon Ingram has yet to have a breakout offensive game in the first round vs. Cleveland.

    • Download the NBA App

    The long, harsh Canadian nightmare is over, and this isn’t about winter. Or maybe so, because 12 straight times the Toronto Raptors had no answer for the Cleveland Cavaliers in the playoffs, until Game 3 of this first-round series.

    It was a chilly stretch that ended a few nights ago when LeBron James was finally a no-show. Actually, that’s because the noted Raptors-slayer no longer plays for the Cavs. It was Donovan Mitchell and James Harden who took their foot off the pedal, allowing the Raptors to experience their breakthrough.

    The Cavs-Raptors playoff series is streaking in another direction, if only for the time being. The Raptors trail just 2-1, and Game 4 will tip off Sunday afternoon in Toronto (1 ET, ESPN), giving the home team a chance to square the series and inject some suspense.

    While the Cavs are the more imposing team and higher seed, anything’s possible for the Raptors, especially if Brandon Ingram can shake free of his shooting slump.

    Just the same, the Cavs have been fairly consistent during the regular season, especially once their overall health improved, and rarely string together a stretch of poor games.

    “We will respond,” Harden said.

    Here’s what to watch for Game 4 in Toronto:


    1. More from Toronto’s ‘Killer Bs’

    While one of the Bs, Brandon Ingram, stayed mired in a slump, the Raptors turned to two others and got better results in Game 3. RJ Barrett and Scottie Barnes both dropped 30-plus points and were a combo that was too much for the Cavaliers to handle.

    In a sense, those two were more effective than Harden and Mitchell and were a key factor in the victory. Both can cause trouble off the dribble and are capable of hot stretches. Barrett is the better shooter, Barnes is craftier. They find ways to get buckets and together can place stress on most defenses.

    Ingram, Barnes and Barrett are a total handful if all three are on their game, simultaneously dropping shots and posing as threats. That’s when the Raptors are at their best, because they’re not a great 3-point shooting team. In this series, Toronto is still waiting for them to be fully in sync in the same game. If the ball moves and the shots drop among them, the Cavaliers have serious problems.


    2. More from Harden, Mitchell

    Speaking of problems, this could go two ways. Cleveland has issues if Harden and Mitchell are mistake-prone and missing shots, as they did in Game 3. Just the same, the Raptors are perhaps helpless if those two are tag-teaming the Toronto defense. So it’s possible the series, not just Game 4, will be dictated by the production of the Cavs’ starting backcourt.

    The Harden and Mitchell tandem is a wonderful NBA story, as these two lead singers have found a way to make each other comfortable and productive. That’s not easy to do, especially since Harden arrived just a few months ago. But egos were placed aside for the good of the team, and here they are.

    Both players know what’s at stake. Mitchell has a bucket full of sterling playoff performances — 50-pieces and whatnot — in his past, but is still waiting for that elusive trip to the NBA Finals. Harden made the NBA Finals once, but it was well before he became Kia MVP James. In other words, a long time ago, and since then has suffered through a few poor performances in the postseason.

    All of that can be washed away if they and the Cavs get hot. And their next chance is Sunday.


    3. More from the Tyson Family Weekend

    One of the more improbable sports stories is still unfolding; two brothers are realizing their dream in pro sports. Jordyn Tyson, a standout wide receiver, was the No. 8 pick in the NFL draft on Thursday, going to the New Orleans Saints.

    Meanwhile, his brother Jaylon is in the NBA playoffs and is a valuable rotational player for the Cavs. It’s the first time two brothers became first-round picks in two different pro sports.

    When Jordyn appeared on the red carpet the day before the NFL Draft, their mom, Sandra, wore a Cavs shirt and their father, John, wore a wine-colored suit, in a salute to Jaylon and the Cavs. Jordyn also wore the shoes his older brother wore at the NBA Draft in 2024. The parents probably switched up and reflected the Saints’ colors later after the NFL draft, who knows.

    The former No. 20 pick, Jaylon Tyson is making strides after being served a minor role as a rookie. The 6-foot-6 guard moved up in the rotation and took advantage of increased playing time caused by prolonged injury absences by the since-departed Darius Garland and averaged 10 points off the bench this season.

    In Game 3, he was one of the few bright spots for the Cavs, notching 13 points and four assists. As the Cavs look to use their depth as a strength, Tyson’s role and minutes could prove crucial, especially if either Harden or Mitchell struggles again.


    4. More from Murray-Boyles

    The Raptors made a wise decision to draft Collin Murray-Boyles at No. 9 last summer because the forward dropped plenty of hints during the season that he could be counted upon in the playoffs. Sure enough, Murray-Boyles was a difference-maker in Game 3 with good efforts at both ends.

    He’s also pushing for more playing time and that’s important, considering the Cavs bring more experience on the front line. Murray-Boyles brings a physical presence and plays bigger than his listed 6-foot-7 frame. The Raptors could use his inside presence against Evan Mobley and Jarrett Allen.

    If the rookie follows up his 22 points and eight rebounds in Game 3 with another mature output, Toronto’s chances of winning will increase.

    * * *

    Shaun Powell has covered the NBA since 1985. You can e-mail him at spowell@nba.com, find his archive here and follow him on X.

  • BYD’s next all-electric hypercar is a convertible that’s coming to Europe first

    BYD may be known for its affordable all-electric cars, but that doesn’t mean it won’t dabble in the occasional hypercar under one of its subsidiary brands. Through its Denza subbrand, BYD unveiled the Denza Z, a hypercar that can push out more than 1,000 horsepower with an all-electric motor, at the Beijing Auto Show. According to CarNewsChina, the Denza A can hit 0 to 60 mph in less than two seconds, rivaling the likes of the Rimac Nivera.

    BYD first showed off the Denza Z as a concept during the Shanghai Auto Show in 2025. A year later, the Chinese EV maker confirmed its latest hypercar as a four-seater that will come in hard-top, convertible and “track” configurations. BYD hasn’t revealed the Denza Z’s full specs yet, so we’re not sure what differentiates the track edition. So far, the company has shared that it would use the company’s intelligent suspension system called DiSus-M, which is similar to Chevrolet Corvette’s Magnetic Ride Control, and its Flash Charging system. BYD also told AutoExpress that the Denza Z will have some of the features seen with the BYD’s YangWang U9, like autonomous driving and “tank turning.”

    Surprisingly, BYD is planning to release the Denza Z to Europe first, with an inaugural ride at the Goodwood Festival of Speed in the UK in July. The automaker hasn’t revealed pricing yet, but it should be more available than BYD’s other hypercar under its YangWang subsidiary that’s limited to 30 units.

  • Hyperliquid’s (HYPE) Growth Story Meets Slowing Activity: Report

    Hyperliquid’s (HYPE) Growth Story Meets Slowing Activity: Report

    Hyperliquid’s $HYPE token rose 80% over the past 90 days, significantly outperforming Bitcoin’s 10% gain over the same period. This price action comes in the backdrop of a market witnessing geopolitical turmoil.

    However, data demonstrates that fundamentals have waned relative to $HYPE’s valuation.

    Cooling Derivatives Momentum

    In his latest report, crypto analyst Michael Nadeau said investors are increasingly “paying up” for each dollar of revenue, as the token’s fully diluted price-to-sales ratio reached 47.3, up 67% quarter-over-quarter and nearing record levels. This is an uncommon trend during periods when valuations typically contract.

    Over the last 90 days, Hyperliquid’s perpetual DEX generated $153.8 million in fees, down 13% from the previous quarter but up 12.3% year-over-year, with 99% of those fees used for $HYPE buybacks. Average daily trading volume stood at $7.07 billion, after rising 6% quarter-over-quarter, while open interest declined to $7.6 billion, down 51% from its peak and around 15% over the same period.

    The protocol continues to lead among decentralized perpetual exchanges with a 72% market share, though it accounts for about 5% of total volume when centralized platforms are included. In terms of capital flows, $3.36 billion is currently bridged into Hyperliquid, which is down 44% from its peak. To top that, $730 million has left the network over the last 90 days, including $500 million since early April.

    Mixed Signals

    Activity metrics depicted mixed trends. Active addresses, for one, averaged 46,000 per day, up 6.6% quarter-over-quarter, besides strong growth in HIP-3, a framework that allows third parties to launch their own perpetual DEXs.

    HIP-3 volumes averaged $2.58 billion per day, up 973% quarter-over-quarter, and accounted for 36% of total volume. Meanwhile, the HyperEVM ecosystem recorded $1.84 million in revenue over the period as it plunged 33% quarter-over-quarter, with active addresses also falling.

    You may also like:

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    Stablecoin supply on HyperEVM rose to $1.83 billion, driven largely by USDC.

    On token dynamics, buybacks were greater than issuance over the past 90 days, which resulted in net deflation, while core contributor token unlocks are ongoing through 2027. The report also found that buyback yield has declined to 2.55% on a fully diluted basis.

    Certain areas reveal strong expansion, while others reflect cooling activity. As a result, the token’s price has gone up faster than the actual growth of the project’s usage and revenue, while different parts of the system are growing at different speeds.

  • Top Crypto Gainers of Today: $ALGO, $DEXE, and $ATOM Outshine

    Top Crypto Gainers of Today: $ALGO, $DEXE, and $ATOM Outshine

    According to CoinMarketCap, here is a list of the top 10 crypto gainers of the last 24 hours, in terms of Price and holding volume. These projects highlight a growing trend upward and can attain top positions in the other altcoins. Here is the name of these gainers along with their tickers that vary from each other.

    Algorand ($ALGO), DeXe ($DEXE), Cosmos ($ATOM), Venice Token ($VVV), Immutable ($IMX), Chiliz ($CHZ), Toncoin ($TON), Bittensor ($TAO), Mantle ($MNT), and Hyperliquid ($HYPE) are the top crypto performer of the day. In this scenario, the leading position is given to Algorand ($ALGO).

    Algorand ($ALGO) has the biggest increase percentage of 5.38% by the last 24 hours, with a current price of $0.1138. Algorand ($ALGO) holds a 24-hour volume of $62478524. The following data has been taken from CoinMarketCap (CMC) at the current time.

    DeXe Surges with Strong Volume as Cosmos and Venice Token Climb

    DeXe ($DEXE) gets chasing position with a volume of $28435227 over the last day. Additionally, DeXe ($DEXE) is trading at a new price of $13.53 with a growing trend of 5.19% in the previous 24 hours. Algorand ($ALGO) and DeXe ($DEXE) have a price difference of $13.4162.

    Cosmos ($ATOM) attains 3rd position in the list of the top performers, crypto gainers. Cosmos ($ATOM) is currently available for trading at $2.04 price with an increase of 3.76% over the last day. Cosmos ($ATOM) grasps with a volume of $62511592.

    Subsequently, Venice Token ($VVV) and Immutable ($IMX) got 4th and 5th positions with current prices of $8.76 and $0.1814, respectively. These two cryptocurrencies represent positive responses toward growth of 2.81% and 1.63% accordingly. Venice Token ($VVV) has a trading volume of $8763400, and Immutable ($IMX) also holds $24365226.

    Chiliz and Toncoin Lead Mid-Tier Gains as $TAO and $HYPE Show Strength

    As per CoinMarketCap data, Chiliz ($CHZ) is also one of the top performers with an increase of 1.52%, with an emerging price of trading at $0.04896. Chiliz ($CHZ) has a volume of $62797447. This cryptocurrency holds almost a central position in the complete given list. Moreover, Toncoin ($TON) has a volume of $117183850 of 24H, with a price of $1.34. This coin also got 1.47% increase in its growth over the previous day.

    Bittensor ($TAO) and Mantle ($MNT) also show increased responses toward growth over the past 24 hours. Bittensor ($TAO) and Mantle ($MNT) get 1.29% and 1.27% growth with volumes of $154021285 and $34858537. Bittensor ($TAO) is available for trading at $251.75 in the entire list. Mantle ($MNT) trades at a new price of $0.659.

    Eventually, Hyperliquid ($HYPE) got the last position in the entire list with a volume of $162668553, along with the growth of 1.21% over the previous days. Hyperliquid ($HYPE) is currently available for trading at $41.59.