U.S. April CPI Released, Robinhood Submits Second Public VC Fund Application

Author: Schatong TechFlow

The U.S. unadjusted year-over-year CPI for April was 3.8%, and the adjusted month-over-month CPI for April was 0.6%.

The U.S. April year-over-year CPI, unadjusted, came in at 3.8%, above the expected 3.7% and compared to the prior value of 3.30%. The U.S. April month-over-month CPI, seasonally adjusted, was 0.6%, matching expectations and compared to the prior value of 0.90%.

The U.S. Senate confirmed Wash as a Federal Reserve Governor and advanced her nomination for Chair.

On the 12th, the U.S. Senate confirmed Kevin Warsh as a member of the Board of Governors of the Federal Reserve System by a vote of 51 in favor and 45 opposed, for a 14-year term. Warsh succeeds Stephen Milan, whose term has expired; his term as governor began on February 1 of this year. The Senate has initiated the confirmation process for Warsh’s concurrent appointment as Chair of the Federal Reserve for a four-year term and has held a cloture vote, initiating a countdown that could lead to approval as early as Wednesday local time. Current Chair Powell’s term ends on Friday.

The U.S. Senate Banking Committee updated the text of the Crypto Market Structure Act to include provisions for stablecoin incentives and DeFi developers.

According to The Block, the U.S. Senate Banking Committee released an updated 309-page text of the Clarity Act, which is scheduled for consideration and voting later this week. The new text includes revised language imposing restrictions on stablecoin rewards, as well as provisions from the Blockchain Regulatory Certainty Act, clarifying that non-custodial developers are not money transmitters. Coinbase, which had previously withdrawn its support due to controversy over stablecoin reward provisions, has now shifted to backing the bill, although banking groups still consider the restrictions insufficient. Meanwhile, the bill still lacks ethical constraints on presidents and other federal officials benefiting from digital assets; Democrats have indicated that without compromises on this issue, the bill will struggle to gain support.

Market News: CME Group will launch an AI-powered computing power futures market.

Market news: CME will launch an AI-powered computing power futures market.

Aave and Kelp have completed the first steps of the rsETH technical recovery plan, having burned the attacker's rsETH on Arbitrum.

Aave stated that the initial steps of the rsETH technical recovery plan have been completed, including the destruction of rsETH held by the attacker on Arbitrum. Over the coming days, relevant parties will gradually replenish funds into LayerZero’s OFT adapter and phase in the resumption of rsETH-related operations. Kelp previously indicated that it has completed a series of rsETH backing recovery steps with Aave, planning to gradually transfer 117,132 rsETH from the Aave Recovery Guardian and Kelp Recovery Safe into LayerZero’s OFT adapter on Ethereum mainnet.

JPMorgan submits application for a tokenized fund, further increasing its investment in cryptocurrency.

According to Bloomberg, JPMorgan Asset Management has filed its second application for a tokenized money market fund, aiming to launch the JPMorgan Chase OnChain Liquidity Token Money Market Fund, ticker JLTXX. The filing indicates that the fund will issue digital tokens on the Ethereum blockchain, representing shares of its underlying portfolio of U.S. Treasuries and repurchase agreements. This move demonstrates JPMorgan’s continued efforts to expand its blockchain-based financial product offerings.

Grayscale files for the first Zcash spot ETF; Multicoin Capital discloses increased holdings of ZEC since February

Grayscale submitted an application for a Zcash spot ETF on May 8, converting its existing Zcash trust into a spot product—the first spot ETF seeking listing in the U.S. for a privacy coin. Meanwhile, Multicoin Capital disclosed that it has been steadily increasing its ZEC holdings since February. The report noted that Zcash’s price recently rose to $600, pushing its market capitalization into the top 15. Since Zcash supports both transparent and shielded address pools, if the spot ETF progresses, custody, auditing, and market-making functions may primarily rely on the transparent address pool. Previously, the U.S. Securities and Exchange Commission concluded its long-term review of Zcash in January 2026 without taking any enforcement action.

TD Cowen maintains a Buy rating on Sharplink, implying a 106% upside from the current price.

According to The Block, TD Cowen reaffirmed its "Buy" rating and $16 price target for Sharplink (SBET), an Ethereum treasury company. The Q1 earnings report showed Sharplink’s revenue exceeded $12 million, and the company simultaneously announced a joint venture with Galaxy Digital to launch a yield fund of approximately $125 million focused on DeFi and liquidity opportunities.

TD Cowen noted that Sharplink’s current stock price of $7.76 trades at a discount of approximately 0.8x to its NAV per share of $9.68, creating a "favorable buying window." The analyst also identified four key pillars of Ethereum demand: stablecoins, tokenization, DeFi, and AI-driven agent finance, asserting that these structural demand drivers will continue to support Sharplink’s Ethereum treasury strategy. Sharplink currently holds approximately 873,000 ETH, with a market value of about $2 billion.

The Ethereum Foundation has launched the Clear Signing open standard, which provides human-readable transaction signatures by default.

The Ethereum Foundation has announced that Clear Signing is now officially live, aiming to eliminate "blind signing" by making Ethereum transaction signatures display in a human-readable format by default, thereby enhancing user experience and security. This initiative, driven by the Ethereum Working Group, includes ERC-7730 for generating human-readable transaction descriptions, a neutral and mirrorable descriptor registry, the ERC-8176 proof framework for auditors to verify descriptor integrity, and open development tools for wallets, protocols, and auditors. Participants include Ledger, Trezor, MetaMask, and WalletConnect.

Anthropic: Stock transactions without board approval are invalid; be cautious of investing through SPVs and tokenized securities.

Anthropic states that any transfer of company stock or related interests without board approval is invalid and will not be recorded in the company’s books. Anthropic explicitly prohibits SPVs from acquiring its stock and warns that offering public exposure to Anthropic equity through SPVs, forward contracts, tokenized securities, or similar mechanisms may constitute fraud or be valueless due to transfer restrictions. Anthropic also named Open Door Partners, Unicorns Exchange, Pachamama, Lionheart Ventures, Hiive, Forge, Sydecar, and Upmarket as institutions that have unlawfully traded its shares, and cautioned investors to be wary of hard-to-trace payment methods such as cryptocurrency and wire transfers.

Robinhood has submitted an application for its second public venture fund, RVII.

Robinhood has filed for the offering of its second publicly traded venture fund, RVII, approximately two months after the listing of its first fund, RVI. Robinhood stated that the fundraising target for RVII has not yet been determined; RVI had initially aimed to raise $1 billion but ultimately raised less than that amount. Records show that RVI holds stakes in ten private companies, including OpenAI, Stripe, Databricks, and Revolut. Robinhood said that both funds enable retail investors to purchase publicly traded shares linked to a portfolio of private startup investments through standard brokerage accounts.

After buying 1 million ETH this year, Tom Lee has for the first time "hit the brakes," but ETFs and whales are picking up the baton.

https://www.techflowpost.com/en/article/31534

This article discusses Bitmine’s decision to slow its pace of Ethereum purchases while continuing to accumulate, with the goal of holding 5% of Ethereum’s total supply. Bitmine has acquired over one million Ethereum tokens and generates steady income through its staking platform, MAVAN, while planning to open its services to external institutions. Bitmine is expanding its business lines into AI investments and the creator economy, emphasizing the use of staking income and cash reserves to sustain operations.

Apyx: Saylor’s BTC Flywheel Gets a DeFi Pipeline

https://www.techflowpost.com/en/article/31535

The article details Michael Saylor and his company Strategy’s innovative attempt to build a financial ecosystem anchored in Bitcoin through the issuance of perpetual preferred shares, STRC. It highlights how the DeFi protocol Apyx enables the transfer of cash flow by bridging traditional finance with decentralized finance, while also examining the potential risks and implications involved.

Cerebras IPO: $48.8 billion valuation—bubble or new king challenger to NVIDIA?

https://www.techflowpost.com/en/article/31536

This article provides a detailed analysis of Cerebras’ 2026 IPO, examining its background, technological advantages, financial condition, and potential risks, while exploring its significance as a major capital event in the AI hardware sector. It dissects Cerebras’ business model from technical, financial, and market perspectives, identifying three paradoxes: the tension between technology and finances, circular dependency in customer structure, and its positioning as both a challenger to NVIDIA and a narrow-band complement. Finally, the article offers differing short-term and long-term investment recommendations for Cerebras and analyzes related governance and geopolitical risks.

Interview with Michael Saylor: You Misunderstood the Statement "Never Sell Bitcoin"—We Are Still Net Buyers

https://www.techflowpost.com/en/article/31537

The article provides a detailed account of Michael Saylor’s discussion on the podcast regarding Bitcoin (BTC) and his company’s strategic shift. He explains the rationale behind the company’s plan to sell Bitcoin if necessary to pay preferred dividends, and clarifies misconceptions in the market about the slogan “never sell Bitcoin.” Additionally, the article delves into Bitcoin’s role as a “killer app” for digital capital and digital credit, as well as the impact of AI on the development of financial instruments.

Bitcoin's "Bull-Bear Cycle Indicator" turns positive for the first time in 7 months—bull market rebound or false breakout?

https://www.techflowpost.com/en/article/31538

This article discusses how CryptoQuant’s bull-bear market cycle indicator turned positive for the first time since October 2025, signaling positive on-chain data. Bitcoin’s price has rebounded from its February low of approximately $60,000 to over $81,000. The Bull Score Index rose into the neutral zone of 50 in late April, marking the first time it has entered this range since Bitcoin began its decline from its all-time high. For Bitcoin to confirm a trend reversal and enter a new bull market, it must break above the 200-day moving average resistance at $82,000.