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- A Bitcoin whale just woke up after 10 years, and moved $40M
A Bitcoin whale just woke up after 10 years, and moved $40M
Your Monday crypto briefing is here; let's see what moved over the weekend.
Hodl Fm
May 11, 2026
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YOUR DOSE OF CRYPTO WISDOM AND ENTERTAINMENT
Whales woke up, Coinbase had a rough quarter, stablecoin regulators are squaring off, and OpenAI employees quietly pocketed billions. Here's everything you need to know before the week kicks off.
Monday news 🗞️
A Bitcoin Whale Just Woke Up After 10 Years, and Nobody Knows Why
A wallet that hadn't moved since November 2013 suddenly transferred 500 BTC (~$40M) over the weekend. Originally worth just $457K, the coins have grown nearly 89x. The destination isn't linked to any known exchange, so whether it's a wallet reorganization or a coming sale, markets are watching closely. Meanwhile, BTC is trading near $81K, with six straight weeks of positive ETF inflows totalling $3.4B.
Coinbase Posted a $394M Loss.
Coinbase's Q1 numbers look rough on the surface, a $394M net loss on $1.41B revenue, with shares sliding 6% after hours. But dig deeper and the story gets interesting: $482M of that loss was unrealized crypto markdowns, not cash out the door. Adjusted EBITDA was a healthy $303M. Trading revenue fell 40% YoY, but stablecoins and subscriptions stepped up. The eyebrow-raiser? CEO Brian Armstrong quietly sold $541M in stock between May 2025 and Jan 2026 — at an average price roughly double today's levels.
The Bank of England Just Warned the US: We're Going to Fight Over Stablecoins
Bank of England Governor Andrew Bailey didn't mince words, he sees a "coming wrestle" with the US over how stablecoins should work globally. The core issue: some dollar-backed stablecoins can't be redeemed directly for cash without going through a crypto exchange, which Bailey says is a ticking time bomb in a crisis. The UK is taking a tougher stance (40% reserves at the central bank; £20K holding limits), while the US GENIUS Act pushed a softer framework. The ECB's Christine Lagarde is echoing the concern. Regulatory fragmentation ahead?
OpenAI Let 600 Employees Cash Out $6.6B. Some Walked Away with $30M Each.
In October 2025, OpenAI quietly ran a $6.6B secondary share sale, and details only just surfaced. Over 600 current and former employees sold vested shares at a $400B valuation. More than 75 people hit the $30M cap, with the average seller taking home around $11M. It's one of the largest private-company employee liquidity events ever. The backdrop? While OpenAI insiders cashed out, the broader tech sector shed 78,000 jobs in Q1 2026. The AI wealth gap is very real.
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Disclaimer: We're here to entertain, not to be your financial guru. This newsletter is purely for educational purposes and does not constitute financial advice or a magical fortune-telling session. So, grab your popcorn, enjoy the read, but remember to use your own wits and conduct thorough research before making any money moves. Stay curious, my friends!