- CEX Hot Coins
CEX Trading Volume Top 10 and 24-hour Price Change:
BTC: -2.07%
ETH: -1.84%
SOL: -1.89%
XRP: -3.17%
PEPE: -2.87%
SUI: -5.20%
TRX: -0.69%
SPK: +490.48%
DOGE: -1.32%
BNB: -0.41%
24H Price Increase Ranking (Data Source: OKX):
RADAR: +39.23%
SPK: +16.92%
ICE: +14.66%
MAGIC: +7.22%
LAT: +6.82%
SNT: +6.52%
SOPH: +3.68%
FLUID: +2.54%
DUCK: +1.66%
FORTH: +1.57%
- On-chain Hot Meme Top 5 (Data Source: GMGN):
Amazon
Nicatine
rasmr
EGL1
TRUMPWIF
- 24H Hot Search Coins
BASEDD, a live streaming token created by the X platform's gold V account @SUPERBASEDD, is associated with @SolJakey's content initiative "BASEDD HOUSE," representing a 24/7 live creator community that emphasizes bringing creators together to produce viral content. Notably, the development team holds 70% of the token supply.
Headlines
US GENIUS Act approved by the Senate, a historic step for stablecoin legislation
According to the Associated Press, the US Senate passed the stablecoin regulatory bill GENIUS Act with 68 votes in favor and 30 against, which will be sent to the House of Representatives for review. The bill establishes a federal regulatory framework for stablecoins, requiring one-to-one reserves, consumer protection, and anti-money laundering mechanisms. Treasury Secretary Scott Bessent predicts that the implementation of the bill will create a $3.7 trillion stablecoin market and may attract tech giants like Apple and Google. However, the bill does not restrict the president and his family from profiting from stablecoin issuance, leading to criticism from Democrats regarding potential conflicts of interest for the Trump family. The Trump family’s World Liberty Financial project profited over $57 million from token sales last year.
Senior US officials: Trump is seriously considering military action against Iran
Senior US officials stated that Trump is seriously considering military action against Iran and will hold an important meeting with advisors at 1 PM local time (1 AM Beijing time) on Monday. Previously, President Trump tweeted that we know exactly where the so-called "Supreme Leader" (Iran's Supreme Leader Khamenei) is hiding. He is an easy target, but he is safe there—we will not take action against him for now (kill him!). But we do not want missiles aimed at civilians or US soldiers. Our patience is wearing thin.
Industry News
Coinbase seeks SEC approval to launch "tokenized stocks"
Coinbase is seeking approval from the US Securities and Exchange Commission (SEC) to launch "tokenized stock" trading services. The company's Chief Legal Officer Paul Grewal stated that this plan is a "major priority" for Coinbase, and if approved, it would allow the platform to compete directly with traditional brokers like Robinhood.
Since the Trump administration, the regulatory environment for cryptocurrency in the US has significantly improved. The SEC withdrew its enforcement action against Coinbase in February 2023. Analysts point out that if the plan is approved, the SEC may allow it through a "no-action letter." Currently, exchanges like Kraken are already providing similar services to overseas users.
UK-listed company Vinanz plans to raise £3.58 million to expand strategic Bitcoin reserves
UK-listed company Vinanz announced it will raise £3.58 million (approximately $4.72 million) by issuing a total of 4,000,000 new ordinary shares to expand its strategic Bitcoin reserves. CEO Hewie Rattray stated, "This fundraising reflects the growing market interest in Bitcoin strategy, accelerating Vinanz's goal of becoming the UK's leading mainboard-listed Bitcoin company." On May 19, Vinanz purchased 16.9 Bitcoins at an average price of $103,341, totaling approximately $1.75 million.
Project News
Pumpfun official account and founder Alon's personal account have been unblocked
The official X account of the Pumpfun project and its founder Alon's personal account have returned to normal use today, with the reasons for the previous bans still undisclosed.
GMGN-related X accounts have been unblocked, ElizaOS official account remains banned
The GMGN official account (@gmgnai) and several related crypto KOL accounts, including its founder Haze (@haze0x), have also been unblocked. The ElizaOS official account (@elizaOS) and its founder Shaw (@shawmakesmagic) remain banned.
INK Foundation: Total supply of INK tokens will be permanently limited to 1 billion
The INK Foundation announced that the total supply of INK tokens will be permanently limited to 1 billion, with no inflation, and no further minting through governance in the future. Additionally, INK tokens are not used to control the Ink blockchain, which remains governed under the Optimism superchain; INK representation is solely for users and the application layer.
Ethereum users have staked a record 35.35 million ETH in the Beacon Chain deposit contract, accounting for approximately 29% of the circulating supply of the token, setting a new network high. Data shows that the staked Ether is now worth approximately $89.1 billion.
Investment and Financing
a16z partner: an additional $70 million invested in EIGEN tokens, with a lock-up period
a16z general partner Ali Yahya announced on X: "I am pleased to announce that we have invested an additional $70 million in the EigenLayer token EIGEN, with a lock-up period. Over the past few years, the EigenLayer team has pioneered a new paradigm for building verifiable and trust-neutral applications."
Decentralized AI infrastructure project Gradient Network announced the completion of a $10 million seed round financing, led by Pantera Capital and Multicoin Capital, with participation from HSG (formerly Sequoia China) and several well-known angel investors and advisors from AI, crypto, and other fields. Gradient aims to create a decentralized AI driven by widespread user participation, launching two of its core protocols this week: the decentralized data communication protocol Lattica and the decentralized inference engine Parallax.
The institutional-grade cross-border settlement platform XFX supporting stablecoins announced the completion of $9.1 million in sub-round financing, led by HAUN Ventures, with participation from Castle Island Ventures, Oak HC/FT, MAYA Capital, Coinbase Ventures, Paxos, and Bitso. XFX is an institutional-grade cross-border settlement platform that supports real-time transparent liquidity for fiat and stablecoins.
Market news: Musk's xAI seeks $4.3 billion in financing
According to market news: Musk's xAI is seeking to raise $4.3 billion through equity financing.
PublicAI completes $8 million Series A financing, with participation from Blockchain Builders Fund
Referred to as the "Web3 empowered version of ScaleAI," the AI company PublicAI announced the completion of an $8 million Series A financing round, with participation from Saudi Telecom Group, Blockchain Builders Fund, Tykhe Blocks Ventures, NEAR Foundation, Taisu Ventures, MH Ventures, YGG, CSP DAO, IBC Group, G20, Whitewater Labs, and UXLink. PublicAI aims to provide everyone with a way to stay engaged and profit in the AI economy. The company previously completed a $2 million seed round, bringing the total financing to $10 million.
Stablecoin startup Ubyx completes $10 million seed round financing, led by Galaxy Ventures
Stablecoin startup Ubyx, founded by former Citigroup executive Tony McLaughlin, has completed a $10 million seed round financing, led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, and VanEck. The company is dedicated to building a clearing system that connects stablecoin issuers with banks and fintech companies to address interoperability issues in payment scenarios.
Regulatory Trends
Brazil's Bitcoin Reserve Bill has passed the first committee review
Brazil's Bitcoin Reserve Bill "PL 4501/2023 or PL 4501/2024" has passed the first committee review. The bill proposes the establishment of a "sovereign strategic Bitcoin reserve," allocating up to 5% of foreign exchange reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country to establish a legal BTC reserve, following El Salvador. Brazil's Vice President Chief of Staff Pedro Giocondo Guara stated in March that the "strategic sovereign Bitcoin reserve" is crucial for national prosperity and is a matter of public interest, referring to Bitcoin as "the gold of the internet."
Malaysia launches Digital Asset Center to test stablecoins and other innovative applications
Malaysia has announced the launch of the "Digital Asset Innovation Center" program. This regulatory sandbox, led by the Central Bank of Malaysia, will allow the testing of ringgit stablecoins, programmable payments, and other innovative applications, aiming to position the country as a regional fintech hub. Central Bank Governor Abdul Rasheed Ghaffour stated that the country is simultaneously upgrading the Rentas payment system and exploring cross-border payment connectivity and asset tokenization.
Voices from the Industry
1confirmation founder: Stablecoin market cap will grow tenfold due to the approval of the GENIUS Act
1confirmation founder Nick Tomaino stated that the GENIUS Act is very favorable for cryptocurrencies, and the market cap of stablecoins will rapidly grow tenfold as a result. However, it might be better if the bill were decided by market participants rather than politicians influenced by corporate donors. The US Congress agrees that stablecoins are beneficial for the US, and the best measure of the bill's success is the total market cap of stablecoins. Anyone can spend money wisely, and the market determines the best way to achieve goals.
James Wynn: BTC may dip to $93,000-$95,000 before further rising
James Wynn stated that Bitcoin may dip to $93,000-$95,000 before further rising, and the market may face some volatility. He advises cautious position protection to avoid liquidation.
Liu Qiangdong: JD.com will apply for stablecoin licenses in all major currency countries
Liu Qiangdong, Chairman of JD Group, stated in a sharing session today that JD.com hopes to apply for stablecoin licenses in all major currency countries globally, and then use the stablecoin licenses to facilitate currency exchange between global enterprises, reducing cross-border payment costs by 90% and improving efficiency to within 10 seconds. Liu stated, "Currently, remittances between enterprises take an average of 2 to 4 days and are quite costly. After completing B-end payments, we will penetrate into C-end payments, hoping that one day everyone can use JD stablecoins for payments when consuming worldwide."
Billionaire Mark Cuban speculated on the features of Trump's phone on the X platform, stating, "They might be playing a clever game by embedding a crypto wallet supporting the Trump family's crypto project WLFI, TRUMP Meme tokens, and stablecoin USD1 into the phone. Any transactions created would generate fees for them, and there are many ways to sell products and preload whatever content they want."
Canopy Capital founder: Stablecoins will become the primary transaction mechanism for all payments
Eric Golden, founder and CEO of Canopy Capital, discussed the current state of cryptocurrencies, Bitcoin price trends, and the future of stablecoins during a CNBC financial program "Squawk Box." He stated that stablecoins will become the primary transaction mechanism for all payments.
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