The Wire PM — May 22, 2026

The Wire PM — May 22, 2026

Mark Cuban Says He Sold Most of His Bitcoin Mark Cuban told Bitget he has sold nearly all his Bitcoin holdings, saying the asset "lost the plot" after failing to act as a hedge during recent geopolitical stress and dollar weakness. Cuban had been a vocal Bitcoin supporter since 2020. The timing is notable: BTC sits at $77,300 on its 16th Pizza Day, down 38% from October's $126,000 record. Cuban did not disclose what he rotated into. (Source: Bitget, CryptoNews)

Hyperliquid ETFs Pull $70M in First Week, Outpacing Bitcoin on Adjusted Flows Spot Hyperliquid ETFs have attracted roughly $70 million since launch, with a single-day record of $25.5 million on May 20. Adjusted for market cap, the inflow rate exceeds what Bitcoin ETFs saw during their first trading week in January 2024. HYPE is up 17% in 24 hours to $55.91 on the back of the flow data. Analysts at CryptoSlate called the organic interest a "good sign," though the two-fund universe is still tiny relative to Bitcoin's 11-issuer lineup. (Source: The Block, CryptoSlate, KuCoin)

Polymarket Ops Wallet Drained in Private Key Compromise An attacker drained more than $660,000 from Polymarket's UMA CTF adapter contracts on Polygon after compromising a private key tied to an internal operations wallet. ZachXBT flagged the exploit first, noting funds leaving at roughly 5,000 POL every 30 seconds. Polymarket VP of Engineering Josh Stevens said the key was six years old and used only for internal top-ups. User funds and market resolutions are unaffected. (Source: CoinDesk, CryptoTimes, BeInCrypto)

Wintermute Launches Armitage Vaults on Morpho Trading firm Wintermute entered the DeFi vault curation space with Armitage, a pair of non-custodial USDC vaults built on Morpho. The Prime vault targets 4-5% APY with blue-chip collateral (cbBTC, wstETH, wBTC). The Select vault targets 5-8% APY and accepts broader collateral including tokenized Wintermute debt. The key edge: Wintermute's $10B daily volume lets it accept and liquidate collateral types other curators cannot. No KYC required. (Source: The Block, Yahoo Finance)

Numbers (Updated)

• BTC: $77,348 (-0.6% 24h, Pizza Day edition)
• SOL: $86.15 (-1.1% 24h)
• ETH: $2,127 (-0.1% 24h)
• HYPE: $55.91 (+17.3% 24h)

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