Editor’s Note: The conflict between the U.S. and Iran remains unresolved, but as we mentioned last week, traditional financial markets have begun to surge: stock markets in Japan and South Korea have reached all-time highs; NVIDIA, a leading stock in the U.S. market, has once again surpassed a $5 trillion market cap, while indices such as the Nasdaq and S&P 500 continue their upward momentum. Additionally, whether the new Federal Reserve Chair, Kevin Warsh, can successfully assume office has become the next key event driving market pricing. In the cryptocurrency-related U.S. stock market, with no direct positive catalysts, this week has seen broad declines; we recommend focusing only on selective leading stocks for value buying or short-term rebound speculation.
Below is a summary of last week's crypto stock market information compiled by Odaily Planet Daily; all U.S. stock data is sourced from msx.com.
U.S. stocks face a major liquidity test for IPOs, as the policy stance of the new Fed chair comes under scrutiny
The key events of the past week centered on the hearing of the new Federal Reserve Chair, Kevin Warsh, and the market liquidity test driven by the year's IPO surge, led by SpaceX.
Analysis: The upcoming IPOs of SpaceX, OpenAI, and Anthropic may impact liquidity in the BTC and broader crypto markets.
SpaceX secretly filed its S-1 with the U.S. SEC earlier this month, planning an IPO with an estimated valuation of approximately $1.75 trillion and raising up to $75 billion in funding. If it lists as expected in June, it will surpass Saudi Aramco’s $29 billion fundraising record in 2019 to become the largest IPO in history. Meanwhile, OpenAI and Anthropic are also planning to go public in the second half of this year, with the three companies expected to collectively attract over $240 billion in funding.
Market analysis suggests that these super IPOs could significantly drain liquidity from risk assets, as the crypto market operates within the same pool of capital. Given that major crypto assets like Bitcoin and Ethereum have become highly correlated with Nasdaq and U.S. equity risk appetite in recent years, a large shift of funds toward subscribing to tech giants’ IPOs may weaken buying support for BTC, ETH, and altcoins. Analysts note that Coinbase’s listing in 2021 coincided with a阶段性 top for Bitcoin; this SpaceX IPO could again serve as a key liquidity turning point for the crypto market.
Wash hearing highlights: Denies promising Trump rate cuts, criticizes Fed for losing its way, labeled a "puppet"
Trump’s nominated Fed chair, Walsh, went on the offensive during his confirmation hearing: refusing to answer whether Trump lost the election, drawing fierce criticism from Warren, who called him a “puppet”; turning around to accuse the Fed of being “lost and politicized”; and repeatedly denying any promise to the president regarding low interest rates. Nick Timiraos, known as the “Fed’s messenger,” wrote that Massachusetts Democratic Senator Elizabeth Warren characterized Walsh in her opening statement as both Trump’s “puppet” and an opportunist, but argued that a Fed chair who dares not even state a simple fact that might displease the president who nominated him will not stand up to that president when it matters most. This theme ran throughout the hearing, with Democrats returning to it multiple times.
Wash also stated that the Federal Reserve needs “fundamental policy reforms,” including a new inflation framework, new tools, and new communication methods. Although Wash avoided addressing Trump’s public attacks on the Federal Reserve, he repeatedly denied to bipartisan senators that Trump had sought any commitments on interest rates. “The president has never asked me to pre-determine, commit, fix, or decide on any interest rate decision in any of our discussions, and I would never agree to do so.”
Goldman Sachs: A change in Fed leadership will not lead to rapid rate cuts
Goldman Sachs economist David Mericle stated in a report to clients that the path for Kevin Warsh to become Fed chair is now clear, but leadership changes are unlikely to immediately alter the Fed’s policy stance in the coming months. He noted, “When the Federal Open Market Committee is divided, a new chair may not be able to push for rate cuts as forcefully as Powell.” Regardless of Warsh’s influence, the new chair’s enthusiasm for rate cuts may not be much greater than Powell’s, especially given the continued high uncertainty surrounding the Middle East conflict. Nevertheless, Goldman Sachs still expects easing policy before year-end, maintaining its prior forecast that the Fed will cut rates by 25 basis points in both September and December.
Weekly update on cryptocurrency and stock listed companies
Representative listed companies in the BTC treasury
According to SoSoValue data, as of 8:00 AM Eastern Time on April 27, 2026, the total net weekly purchase of Bitcoin by global publicly traded companies (excluding mining companies) was $260 million, a decrease of 89.8% compared to the previous week.
Strategy (formerly MicroStrategy) announced an investment of $255 million (a 90% decrease from last week) to purchase 3,273 bitcoins at $77,906 each, bringing its total holdings to 818,334 bitcoins.
The Japanese publicly traded company Metaplanet did not purchase Bitcoin last week.
In addition, three other companies purchased Bitcoin last week. Japanese fashion brand ANAP invested $770,000 on April 21 at a price of $84,239.7 to acquire 9.1785 additional Bitcoin, bringing its total holdings to 1,431.9716 BTC; UK-based Bitcoin company The Smarter Web Company announced on April 24 an investment of $3.39 million at $77,071 per Bitcoin to purchase 44 BTC, increasing its total holdings to 2,750 BTC; and French Bitcoin company announced on April 27 an investment of $460,000 at $77,151 per Bitcoin to acquire 6 BTC, raising its total holdings to 2,943 BTC.
Metaplanet has issued 8 billion yen (approximately $50 million) in zero-coupon bonds to purchase Bitcoin.
As of the time of this report, global publicly traded companies (excluding mining companies) collectively hold 1,084,909 BTC, a 0.3% increase from last week, with a current market value of approximately $84.34 billion, representing 5.4% of Bitcoin’s circulating market cap.
Metaplanet issues 8 billion yen zero-coupon bonds to increase its Bitcoin holdings
Last week, Japan’s Bitcoin treasury company Metaplanet announced the issuance of 8 billion yen in zero-coupon ordinary bonds to further purchase Bitcoin.
DDC Annual Report: Bitcoin Holdings Reach 2,383 BTC and AI Treasury Intelligence Platform Launched
DDC Enterprise, a U.S.-listed company, released its fiscal year 2025 financial results last week, reporting annual revenue of $39.2 million, a 4.6% year-over-year increase and a record high; as of April 21, 2026, it held approximately 2,383 bitcoins valued at around $182 million, ranking among the top 30 publicly traded companies globally by bitcoin holdings. DDC also announced the launch of its AI-powered treasury intelligence platform, the “DDC Treasury Intelligence Platform,” designed to optimize bitcoin treasury management and capital allocation.
Representative enterprises with ETH treasury listings
As of April 26, 2026, Bitmine’s total cryptocurrency holdings, cash, and investments amount to $13.3 billion. It currently holds 5,078,386 ETH, valued at approximately $12.03 billion, representing 4.21% of the total ETH supply. The portfolio also includes 200 BTC, $200 million in equity in Beast Industries, $91 million in equity in Eightco Holdings, and $940 million in cash.
Bitmine has staked 3,701,589 ETH, with a value of approximately $8.8 billion at a price of $2,369. Its annualized staking yield is 3.033%, with an estimated annual income of $363 million. Bitmine was listed on the New York Stock Exchange on April 9, 2026, after transferring from the NYSE American exchange.
Additionally, last week the Ethereum Foundation sold 10,000 ETH to Bitmine via OTC at an average price of $2,387.
Representative enterprises of altcoin treasury public companies
Last week, Nasdaq-listed Eightco Holdings (ORBS) updated its holdings, disclosing that the total value of its assets increased to $336 million, including: 283,452,700 Worldcoin (WLD) tokens, 11,068 ETH, a $90 million investment in OpenAI, a $25 million investment in Beast Industries, and $118 million in cash and stablecoins. Eightco Holdings stated that the value of its WLD tokens represents 23% of the company’s total assets, its investment in OpenAI accounts for 27% of total assets, and its investment in Beast Industries represents 7% of total assets.
Nasdaq-listed AVAX treasury company AVAX One announced preliminary Q1 2026 results last week, with quarterly revenue doubling sequentially to approximately $2.4 million, driven by growth in Avalanche staking rewards and Bitcoin mining operations. In terms of asset allocation, the company currently holds around 14 million AVAX, over 90% of which are staked. Additionally, AVAX One has signed a letter of intent to build a 10MW Tier 3 AI/HPC data center in Alberta, Canada, with an expected operational launch in Q1 2027. The facility will leverage low-cost natural gas-powered electricity to advance a dual-strategy of “crypto asset yields + compute infrastructure.” The company has also added 220 new Bitcoin miners, increasing its total hash rate to over 200 PH/s.
Nasdaq-listed company Aurelion disclosed last week that it currently holds 33,318 Tether Gold (XAUT) tokens. Based on the price of $4,719.15 per ounce on April 23, its holdings are valued at over $157 million. Additionally, the company revealed that it has staked 10,000 XAUT, transforming gold tokens from passive reserve assets into yield-generating collateral, while the remaining 23,318 XAUT remain unstaked.
Tron Inc. increased its holdings by 154,494 TRX tokens last week.
Tron Inc. posted on X that it recently increased its TRX holdings by 154,494 tokens at an average price of $0.3236, bringing its total TRX reserve to over 693 million tokens. The company aims to continue growing its Tron DAT inventory to enhance long-term shareholder value.