Today's Headlines:
- Trump declares support for cryptocurrency, criticizes Biden administration's vague attitude towards cryptocurrency
- Huaxia and Jiashi are pushing for the construction of collateral financial products based on cryptocurrency spot ETFs
- MASA token airdrop claim channel is online, eligible users can claim the initial 20% airdrop on Base
- io.net announces its token IO contract address, the token is not yet on the chain
- Eight whales made a profit of $3.56 million from TRB in the past week
- Two wallets that have been idle for 10 years each transferred out all 500 BTC
Regulatory News
At an NFT event in Florida, former US President Trump declared his support for cryptocurrency and criticized current President Biden and his administration. He stated that voters who support cryptocurrency will support him and promised to accept cryptocurrency donations. Trump also promoted his own NFT at the event, claiming to be an advocate for cryptocurrency. At the same time, he criticized the Biden administration's stance, calling their attitude towards cryptocurrency vague.
According to the South China Morning Post, executives from Jiashi International, a virtual asset ETF issuer in Hong Kong, and Huaxia Fund Hong Kong confirmed at the recent Bitcoin Asia conference that they are working to build collateral financial products based on cryptocurrency spot ETFs. David Bailey, co-founder and CEO of BTC Inc., stated that the ETF to some extent acknowledges that Bitcoin will continue to exist, and that Hong Kong is unlikely to have accidentally launched an ETF. The Hong Kong government strongly supports hosting Bitcoin conferences and believes that Bitcoin is a huge opportunity for Hong Kong.
Mark Cuban: SEC Chairman Gensler's cryptocurrency policy could cost Biden the election
Billionaire Mark Cuban criticized the cryptocurrency regulatory approach of SEC Chairman Gary Gensler on the X platform. He stated that Gensler's position could alienate cryptocurrency-focused voters, potentially affecting Joe Biden's election prospects. He said that if Biden fails in the upcoming November election, "you can probably thank" Gensler and the SEC's New York office. "What he (Gensler) is doing is making it almost impossible for legitimate cryptocurrency companies to operate, killing who knows how many businesses, ruining who knows how many entrepreneurs," Cuban continued. This is also a warning to Congress. This election will listen to the opinions of cryptocurrency voters.
Project Updates
zkSync: Mainnet v24 upgrade delayed, zkSync Sepolia testnet expected to fully recover in a few hours
zkSync Developers posted on the X platform that the zkSync Era Sepolia testnet is expected to fully recover in the next few hours. The v24 mainnet upgrade will be delayed until later next week to provide the team with more time to assess the stability of the testnet. When the team is confident in its stability, an exact release date will be provided.
zkSync Developers stated that two issues affected the testnet (these issues have now been resolved): First, due to instability in the eth_sender service (responsible for submitting transactions to the L1 zkSync smart contract), there was no submission of L1 commitment blocks for about 1 day. This was caused by the very different gas market on Blob pricing on Sepolia. Secondly, there were over two days without submission of proofs, resulting in withdrawal delays. This was due to logical differences between the circuit internal VM (used to generate proofs) and the external VM (server-side VM that executes transactions immediately upon submission).
Yesterday's News, zkSync Developers posted on the X platform that the team is investigating a persistent issue with the zkSync Sepolia testnet. During the investigation, withdrawals of Sepolia funds from the zkSync Era Sepolia testnet are unavailable. This investigation (and its results) may affect the planned release of the mainnet v24 version next Monday. Around 3 am yesterday, zkSync Developers posted progress updates, stating that the investigation is still ongoing and will continue into the next day, when more updates will be released.
Bitcoin Magazine tweeted that former PayPal President David Marcus stated that every company in the world will eventually settle transactions using the Bitcoin Lightning Network.
dYdX: dYdX Chain fully decentralized and governed by the community
dYdX tweeted that dYdX Chain is fully decentralized and governed by the community.
MASA token airdrop claim channel is online, eligible users can claim the initial 20% airdrop on Base
According to official sources, the decentralized AI data network Masa announced that the MASA initial token airdrop redemption is now online. Eligible users who choose token reward bonuses and lock-up periods can now claim the initial 20% airdrop on Base. Participants will have 3 months to claim the airdrop, after which any unclaimed tokens will be returned to the Masa Foundation treasury.
io.net announces its token IO contract address, the token is not yet on the chain
Solana ecosystem DePIN protocol io.net announced its token IO contract address on Twitter as BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K. The token is currently not on the chain, and users should be cautious of phishing scams.
AI project Bittensor's subnet slots to expand to 64, aiming for 1024 subnets this year
AI project Bittensor's TAO Community Hub tweeted that Bittensor is initiating weekly subnet slot expansions. Starting today, Openτensor Foundation will add 4 slots per week until reaching the new limit of 64 slots, aiming to achieve the goal of 1024 subnets this year.
Bounce Brand to launch Bounce M&A on May 14th
Decentralized auction platform Bounce Brand tweeted that Bounce M&A will launch at 9:00 AM on May 14th Beijing time. Users will be able to mint new synthetic tokens and merge three tokens into one synthetic token.
Important Data
Lowest Ethereum Network Gas Fee Drops to 2 gwei
Etherscan data shows that today the lowest gas fee on the Ethereum network has dropped to 2 gwei, currently reported at 4 gwei.
Eight Whales Made a Profit of $3.56 Million from TRB in the Past Week
According to Spot On Chain monitoring, in the past week, the price of TRB surged by over 100%, and eight whales made a profit of $3.56 million from TRB. Between early March and May, these whales withdrew a total of 82,849 TRB from Coinbase at a price of $80.2, and then deposited them back at a price of $123 (+53.6%) after holding for about 2 months. More whales may deposit TRB into Coinbase to make a profit.
EIGEN Token Claim Addresses Exceed 110,000
According to the latest data from Dune Analytics, since EigenLayer opened the EIGEN token airdrop claim at 1 am yesterday, the number of addresses participating in token claims has exceeded 110,000, currently reaching 119,399. In addition, the total claimed token quantity has reached 48,578,275, with the largest claim being 2,426,394 EIGEN and the smallest claim being 2 EIGEN.
Two Wallets Idle for 10 Years Each Transfer Out All 500 BTC
According to Lookonchain monitoring, two wallets that have been idle for 10 years each transferred out all 500 BTC (approximately $60.9 million).
Wallet "16vRqA" received 500 BTC on September 13, 2013 (valued at $6.2 million at the time), with a price of $124.
Wallet "1DUJuH" received 500 BTC on September 12, 2013 (valued at $6.2 million at the time), with a price of $124.
Data: GBTC Cumulative Net Outflow Exceeds $17.6 Billion
According to Farside Investors data, since the launch of the Bitcoin spot ETF, GBTC has seen a cumulative net outflow of $17.6329 billion. Additionally, according to Coinglass data, GBTC's assets under management have decreased to $17.647 billion.
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