This Week's Key News Preview | The Federal Reserve FOMC Announces Interest Rate Decision; Binance Alpha and Binance Futures Launch Obol (OBOL)

Organized by: Jerry, ChainCatcher

Key News:

May 5 (Monday)

Hyperliquid announces new fee structure and staking levels to launch on May 5

Hyperliquid announced that the new fee structure and staking levels will go live on May 5 at approximately 03:00 (UTC). Changes include:

Staking HYPE can reduce trading fees;
Different fee standards will apply for perpetual contracts and spot trading;
Spot trading volume will be counted double when calculating fee levels.

The testnet has opened the staking and trading account association feature, allowing users to apply staking discounts from one account to another trading account. This feature is expected to officially launch shortly after the new fee structure and staking levels go live.

Binance Futures plans to adjust the mark price on May 5

According to the official announcement, starting from May 5, 2025, at 17:00 (UTC+8), Binance Futures will adjust the mark price, changing the basis for price 2 from 2.5 minutes to 1 minute.

Shardeum will conduct TGE on May 5

According to official news, Layer1 blockchain Shardeum announced that it will conduct TGE (Token Generation Event) on May 5, with more details regarding the SHM token airdrop, sales distribution, and listing to be released soon.

IOTA: Rebased mainnet will upgrade on May 5

According to the IOTA official blog, the upgrade date for the IOTA Rebased mainnet has been set for May 5, 2025, migrating from the Stardust network to the new IOTA network. For IOTA token holders, the Rebased upgrade will be seamless, requiring no token migration; users just need to load their existing wallets into the new wallet to start using it.

Ethereum L2 Superseed: Plans to open SUPR token claims on May 5

According to official news, Ethereum L2 Superseed, based on OP Stack, announced on platform X that SUPR tokens will be available for claims at 22:00 Beijing time on May 5, with no claim deadline.

May 6 (Tuesday)

The U.S. House of Representatives will release a cryptocurrency regulatory draft before the hearing on May 6

According to The Block, sources revealed that House Financial Services Committee Chairman French Hill and others are expected to release a regulatory draft on cryptocurrency before the hearing scheduled for May 6 (local time).

The hearing will take place at 10:00 AM Eastern Time on the 6th, with the theme "The Future of American Innovation and Cryptocurrency: A Blueprint for the 21st Century." It is expected to focus on long-awaited legislation to define the structure of the U.S. cryptocurrency market. The draft is expected to be similar to the "Financial Innovation and Technology Act for the 21st Century" (FIT 21) passed by the House last year. A staff member from the House Agriculture Committee also confirmed that the draft text will be released before the hearing.

Committees in both the House and Senate have advanced legislation focused on stablecoins, while legislation regulating the entire cryptocurrency industry is seen as the next step. President Donald Trump has expressed a desire to see a stablecoin bill before August, but some have indicated that these bills may be interconnected.

May 7 (Wednesday)

Binance Alpha and Binance Futures will launch Obol (OBOL) on May 7

According to the official announcement, Binance Alpha will launch and open trading for Obol (OBOL) on May 7, 2025, at 18:00 (UTC+8).

Additionally, the Binance Futures platform will launch the OBOLUSDT perpetual contract on May 7, 2025, at 18:30 (UTC+8), with a maximum leverage of up to 50 times.

Ethereum will undergo the Pectra upgrade on May 7, optimizing staking and wallet functions

According to CoinDesk, Ethereum developers have officially set the mainnet launch time for the Pectra upgrade to May 7, 2025.

This upgrade is the largest system update since March 2024, including 11 improvement proposals (EIPs), focusing on wallet contract functionality (enhancing usability and recovery) and EIP-7251 (increasing the single-node staking limit from 32 ETH to 2048 ETH). The upgrade has successfully run on the Hoodi testnet.

Binance will remove some leveraged trading pairs on May 7

According to the official announcement, Binance will remove some leveraged trading pairs at 14:00 on May 7, including: Full margin trading pairs: ALT/FDUSD, BIO/FDUSD, GPS/FDUSD, JUV/USDC, TRU/BTC, TST/FDUSD, SKL/BTC Isolated margin trading pairs: ALT/FDUSD, GPS/FDUSD, TRU/BTC, SKL/BTC.

May 8 (Thursday)

The U.S. Department of Justice seeks a 20-year prison sentence for Celsius founder Mashinsky, with sentencing on May 8

According to CoinDesk, Alex Mashinsky, founder and former CEO of the now-defunct cryptocurrency lending platform Celsius Network, faces the possibility of spending the next 20 years in prison if the sentencing recommendation submitted by the U.S. Department of Justice is adopted by the court. Sentencing will take place on May 8.

In the recommendation submitted earlier on Monday, the Department of Justice urged the court to impose a 20-year prison sentence, stating that Mashinsky's crimes were "deliberate and well-planned" fraud, resulting in nearly $7 billion in customer losses and financially harming thousands of people.

The Federal Reserve FOMC will announce the interest rate decision on May 8, with Powell speaking

On May 8 (Thursday) at 2:00 AM Beijing time, the Federal Reserve FOMC will announce the interest rate decision;

Subsequently, at 2:30 AM, Federal Reserve Chairman Powell will hold a monetary policy press conference.

May 9 (Friday)

Coinbase plans to launch 24/7 Bitcoin and Ethereum futures trading on May 9

According to the official announcement, Coinbase will launch the first U.S.-regulated 24/7 Bitcoin and Ethereum futures contracts through its derivatives division, with trading starting on May 9.

Galaxy plans to list on Nasdaq on May 16, pending shareholder vote on May 9

Digital asset management company Galaxy CEO Mike Novogratz announced on platform X that Galaxy plans to list on Nasdaq on May 16, pending shareholder approval on May 9. This listing will enable Galaxy to better serve investors in the digital asset and artificial intelligence ecosystem and initiate the next phase of growth.

May 10 (Saturday)

TON will officially discontinue the Toncoin Bridge on May 10

The official announcement states that TON will officially discontinue the Toncoin Bridge on May 10, at which point users will no longer be able to transfer Toncoin from TON to Ethereum or BNB Smart Chain via this bridge, but previously cross-chain assets can still be claimed. Currently, the bridging function between Toncoin and TON will be temporarily retained, with the termination date to be announced later.

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