1. CEX Popular Coins

CEX Trading Volume Top 10 and 24-Hour Price Changes:

1. BNB: +0.80%
2. BTC: +2.33%
3. ETH: +1.45%
4. XRP: +4.74%
5. DOGE: +1.63%
6. SOL: +1.24%
7. ZEC: +6.02%
8. PEPE: +0.74%
9. TRX: +1.06%
10. AIGENSYN: +57.94%

24-Hour Price Increase Rankings (Data Source: OKX):

1. DEGEN: +46.66%
2. SD: +14.64%
3. HYPE: +13.90%
4. CFX: +12.40%
5. GOAT: +12.08%
6. IMX: +9.89%
7. PNUT: +9.23%
8. AIXBT: +8.13%
9. FLR: +8.04%
10. MERL: +7.62%

24-Hour Coin Stock Price Increase Rankings (Data Source: msx.com):

1. POET.M +65.84%
2. VIVO.M +59.11%
3. VELO.M +33.71%
4. QNTM.M +33.65%
5. WOLF.M +30.31%
6. TSEM.M +27.61%
7. GEMI.M +26.48%
8. GREE.M +26.40%
9. VOYG.M +24.62%
10. RDW.M +24.39%

2. On-Chain Popular Memes Top 5 (Data Source: GMGN):

• CATCH
• Bee
• TRADE
• Fomo
• RIPCAGE

Headlines

U.S. Senate Banking Committee Passes CLARITY Bill, Vote Result 15:9

The U.S. Senate Banking Committee passed the CLARITY Act with a vote of 15 to 9, which is the first large-scale regulatory legislation aimed at the cryptocurrency industry, supported by all Republicans and Democratic Senator Ruben Gallego. The bill still needs to go through a full Senate vote and House review before being signed by Trump. Coinbase, Circle, Ripple, and a16z have expressed support for the bill, while the banking sector and labor organizations have expressed opposition. (CNBC)

Kremlin: Preparations for Putin's Visit to China Are Ready, Specific Date to Be Announced Soon

Kremlin spokesperson Peskov stated that Russian President Putin is about to visit China, and all preparations have been completed, with a specific date to be announced soon. (Global Network)

Industry News

U.S. CFTC Issues No-Action Letter Regarding Event Contract Data Reporting

The CFTC Market Oversight and Clearing and Risk Divisions issued a no-action letter, stating that for market participants who failed to comply with swap-related record-keeping requirements and did not report full collateral event contract data to repositories, enforcement actions are not currently recommended and they plan to simplify the approval process to ensure uniform treatment of market participants.

U.S. President Considers Issuing 250 Pardons, Defendants in the Crypto Space Seek Clemency

The White House is considering issuing 250 presidential pardons on the occasion of the 250th anniversary of the founding of the country, with several cryptocurrency defendants including Sam Bankman-Fried and Roger Ver seeking administrative clemency. The White House has explicitly stated that there are currently no plans to pardon SBF. Previously, Ross Ulbricht, BitMEX founder, and CZ have been pardoned. (Financefeeds)

Market News: OpenAI Partners with Law Firm, Preparing to Sue Apple

The relationship between Apple and OpenAI has become tense, and OpenAI is collaborating with law firms to prepare legal action against Apple.

Project News

Gemini’s Q1 Revenue Increases by 42%, After-Hours Stock Price Soars 30%

Gemini's Q1 revenue reached $50.3 million, an increase of 42% year-on-year, primarily driven by OTC trading and credit card businesses, with credit card revenue increasing nearly 300% year-on-year, accounting for nearly half of total revenue. Since launching in December last year, the prediction market has attracted over 20,000 users, with April trading volume increasing by 78% quarter-on-quarter, driving an after-hours stock price increase of 30%. CEO Tyler Winklevoss stated that the company is transitioning from a cryptocurrency trading platform to a broader "market company."

Bullish Q1 Revenue Falls Short of Expectations, Pre-Market Drops Nearly 8%

The crypto trading platform Bullish reported adjusted Q1 revenue of $92.8 million, below market expectations, with a net loss of $604.9 million, widening year-on-year. Due to weakening digital asset prices and declining trading activity, trading-related revenue fell year-on-year, leading to a pre-market stock price drop of nearly 8%. (CoinDesk)

Consensys Delays IPO Plans Due to Market Conditions Until Earliest This Fall

MetaMask developer Consensys has postponed its U.S. IPO plans until the earliest this fall, affected by the market downturn in February, macro uncertainties, and BTC ETF fund outflows. Kraken and Ledger have also paused their IPOs, while the only listed crypto company BitGo's stock price has dropped 36% from its IPO price.

Investment and Financing

Bitcoin Multisig Custodial Platform Onramp Completes $12.5 Million Series A Financing, Led by Early Riders

Onramp completed $12.5 million Series A financing with a pre-money valuation of $135 million, led by Early Riders. The platform provides multi-institutional custody for large Bitcoin holders, ensuring assets can only be transferred with multi-institutional approval through partnerships with BitGo, Coincover, and Tetra Trust. (Axios)

Turnkey Completes $12.5 Million Strategic Financing, Circle Ventures and Sequoia Capital Invest

The crypto wallet and key management infrastructure company Turnkey completed $12.5 million in strategic financing, led by Archetype and Circle Ventures, with participation from Sequoia, Bain Capital Crypto, and Lightspeed, totaling over $65 million in financing. This round will be used to develop the verifiable cloud computing product Turnkey Verifiable Cloud, with existing clients including Polymarket, World App, and Anchorage Digital. (CoinDesk)

Stablecoin New Bank Fasset Completes $51 Million Series B Financing, Led by SBI Group

The stablecoin digital bank Fasset completed $51 million in Series B financing, led by SBI Group, Investcorp, and Arz Portföy. The platform operates over 50 payment channels across Asia, Africa, and the Middle East, with an annual transaction volume exceeding $32 billion, serving over a thousand SMEs across 125 countries; the financing will be used to enter new markets and develop loan and trade finance products. (CoinDesk)

Fintech Company Stitch Completes $25 Million Series A Financing, Led by a16z

Stitch completed $25 million in Series A financing, led by a16z. The company provides an API-first modular operating system for financial institutions, with over $5 billion in platform transaction volume in the past six months and projecting 10 times customer growth and 20 times revenue growth by 2025.

Voices from Influencers

JPMorgan: If On-Chain Activity Is Insufficient, ETH and Altcoins May Continue to Underperform Bitcoin

JPMorgan analysts noted that since 2023, ETH and altcoins have been consistently underperforming Bitcoin, and if on-chain activity, DeFi, and real-world applications do not improve, it will be difficult to reverse this trend in the short term. The spot Bitcoin ETF has regained about two-thirds of the outflow funds, while the ETH ETF has only restored about one-third, with institutional futures positions in Bitcoin being more actively rebuilt. (The Block)

Yellen: There May Be "Hot" Inflation Data for One to Two Months Ahead

U.S. Treasury Secretary Yellen stated that there may be hot inflation data for one to two months ahead, but inflation is expected to recede afterward. (Jinshi)

ZachXBT: LAB Insiders Control Over 95% of Token Supply

On-chain detective ZachXBT exposed the token manipulation issue of LAB: Insiders have coordinated with unknown market makers to inflate the valuation to $6 billion, with the team signing high-interest loan agreements through shell companies and repaying in tokens, offering discounts of up to 80% to KOLs. From May 11 to 12, approximately $482 million of LAB was transferred from Bitget to 10 specific addresses. ZachXBT called on exchanges like Binance, Bitget, and Gate to freeze related profits or delist the token.

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