Today's Headlines:

1. Uniswap Founder Hayden Adams Talks Token Distribution: Be Generous with Money, Want Tokens, Not Points
2. SUI On-Chain Trading Volume Surpasses 41 Million, Briefly Overtaking Solana
3. Bitfinex CTO Emphasizes No Plain Text Storage of Passwords or 2FA Secrets
4. Friend.tech: 60,000 Independent Addresses Join the Nearly 90,000 Club in 48 Hours
5. BounceBit Mainnet to Launch on May 13, Simultaneous Points Airdrop
6. FRIEND Reaches 2.8 USDT Briefly, 24-Hour Increase of 79.62%
7. Sui Official Response to Doubts, Founder Does Not Control Any Tokens
8. Coinbase and CEO Face New Lawsuit Alleging Investor Deception

Regulatory News:

Bitfinex CTO Emphasizes No Plain Text Storage of Passwords or 2FA Secrets

PANews, May 5th - Bitfinex CTO Paolo Ardoino recently stated that the exchange will never store user passwords or two-factor authentication (2FA) secrets in plain text.

Previously, hacker group FSOCIETY claimed to have breached the cryptocurrency exchange Bitfinex's database and leaked 22,500 customer emails and passwords.

Coinbase and CEO Face New Lawsuit Alleging Investor Deception

According to Cointelegraph, the largest US cryptocurrency exchange Coinbase and its CEO Brian Armstrong are facing a new class-action lawsuit. The lawsuit, filed by the law firm Scott+Scott in the Northern District of California on behalf of clients Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard (from California and Florida), accuses Coinbase of knowingly violating state securities laws in its digital asset sales since its inception. The assets mentioned in the lawsuit include Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM), all of which are claimed to be securities.

Project Updates:

Whales Market Announces Friendtech Points Market Settlement Initiation with No Settlement Fees

Whales Market officially announced on X platform that the settlement of the @friendtech points market has begun. It is worth noting that buyers will not be charged any fees during the settlement process. However, due to the slippage and taxes generated by the swap, the received FRIEND token quantity may deviate. In addition, since FRIEND tokens are non-transferable, the transfer process must be completed through BunnySwap.

Avail Announces End of First Phase of Airdrop Claim, Second Phase Information to be Released Next Week

Polygon modular blockchain project Avail announced on Twitter that the first phase of AVAIL token airdrop claims has ended, and the official claim window has closed. The project is expected to announce the details of the second phase of claims next week, including expanding the reward scope and providing details of rewards to Polygon PoS validators and LST holders.

Cardano Founder Proposes Integration of Cardano with BCH

Cardano founder Charles Hoskinson proposed on X to integrate Bitcoin Cash (BCH) as a partner chain into the Cardano blockchain. This integration will include multiple upgrades inclined towards proof of work (PoW), with 66% of participants currently supporting the proposal.

NEAR's Q1 TVL Reaches $335 Million, a 163% Increase Quarter-on-Quarter

According to Messari researcher Nick Garcia's post on X platform, NEAR Protocol performed outstandingly in the first quarter of 2024, with a total locked value (TVL) reaching $335 million, a 163% increase quarter-on-quarter and a 547% increase over the past six months. The daily active address count reached 1.2 million, a 42% increase quarter-on-quarter and a 377% increase over the past six months. In addition, NEAR's stablecoin market value increased by 176% quarter-on-quarter, reaching $214 million. The total number of NEAR accounts has exceeded 100 million.

BounceBit Mainnet to Launch on May 13, Simultaneous Points Airdrop

According to the official announcement, BounceBit will launch its mainnet according to the following schedule: May 6th, the Premium Yield Generation feature will be temporarily suspended until the mainnet is officially launched. From May 6th to 12th, BounceBit will introduce the first batch of professional node operators. On May 13th, the BounceBit mainnet will be officially launched, and simultaneously, BB points will be automatically distributed to each eligible wallet, with no additional action required from users.

In addition, the BB Megadrop event on the Binance platform will end on the same day, and rewards will be distributed before trading begins.

Arbitrum One's ETH Deposits Account for 75% of L2 Network

According to Spencer Noon, founder of the on-chain analysis platform OurNetwork, as of April 28th, Arbitrum One has accumulated a record high of $5.2 billion worth of ETH deposits. The platform's balance of 1.74 million ETH exceeds the total of other EVM chains. Data from CEX also shows that Arbitrum One is the primary Layer 2 (L2) network for ETH deposits, accounting for 75% of all L2 network deposits as of May 2024.

Sui Official Response to Doubts, Founder Does Not Control Any Tokens

In response to recent social media doubts and discussions regarding the SUI token model and founder's control of tokens, the Sui official team provided a response on the X platform.

The Sui team stated: The founder of MystenLabs does not control the Sui treasury, community reserves, equity subsidies, or any tokens allocated to investors. The Sui Foundation is the largest holder of locked tokens, which will be unlocked according to a public emission schedule. In addition, the Sui Foundation stated that it will return 100% of the staking rewards to the community and incorporate them into the public emission plan.

Important Data:

Sun Yuchen's Team Deposits 120,000 EETH into Swell L2, Accounting for 46.6% of Total Deposits

According to @ai_9684xtpa monitoring, the team address of Sun Yuchen 0x7a9…3095 deposited 120,000 eETH (deposit certificate after depositing ETH into Ether.Fi) into Swell L2 on May 4th, worth $376 million. The current four-week pre-launch deposit activity of Swell will end on May 8th, and Sun Yuchen's pledged funds account for 46.6% of the total deposit amount in Swell L2. Previously, the address deposited 120,000 ETH before the end of the Ether.Fi airdrop activity, receiving 22,000 ETHFI, worth $105,000.

Ethereum Network Gas Fees Drop to 5 gwei

According to Etherscan data, the gas fees on the Ethereum network have dropped to 5 gwei (approximately $0.3).

Multisig Wallet Withdraws Over 1 Trillion $PEPE from Binance

According to monitoring by @EmberCN, a multisig wallet withdrew 915.8 billion $PEPE, worth $7.73 million, in the first 20 minutes. In the past 28 hours, the address has withdrawn a total of 1.238 trillion $PEPE from Binance, worth approximately $10.46 million. 21 days ago, the wallet transferred 7.62 million USDT to Binance, with an estimated purchase cost of $0.00000617 per $PEPE.

Bitcoin Network Transaction Fees Temporarily Rise to 400 sat/byte

According to BTC.com data, the best transaction fee on the Bitcoin network temporarily rose to over 400 sat/byte, with a high priority fee rate currently at 508 sat/byte. GeniiMap data shows that popular projects on the Bitcoin network currently include EPIC•EPIC•EPIC•EPIC, DOPE•ASS•TICKER, and FIRST•EPIC•RUNE runic inscriptions.

Stablecoin Market Cap Increases by 0.29% Weekly, USDT Dominance Reaches 68.97%

According to Defillama data, the total market cap of stablecoins increased by 0.29% in the past week, reaching $160.407 billion. During this period, the market cap of USDT reached $110.627 billion, with a dominance of 68.97%, continuing to lead the stablecoin market.

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