1. Tether CEO: Tether has an internal investigation team that relies on various tools to monitor the primary and secondary markets
Tether CEO Paolo Ardoino posted on social media that a Tether competitor company that is under investigation by the SEC is currently spreading FUD related to Tether and USDT. Ardoino reiterated the security of the Tether ecosystem and listed examples of the current noteworthy situations in the ecosystem, mainly including: USDT is the most widely used stablecoin in the world, with hundreds of millions of users in major emerging markets and developing countries. Tether stablecoin complies with OFAC/SDN regulations. Tether has an internal investigation team that relies on a variety of tools to monitor primary and secondary markets. Since its inception, Tether has cooperated with 124 law enforcement agencies in more than 40 different countries. Tether has frozen more than $1.3 billion since its inception, mainly related to fraud, hacker attacks, and machine learning. (Cooperation with US law enforcement agencies to freeze $639 million)
2. Solana Developer Forum initiates a proposal to enable full priority fee rewards for validators on Mainnet-beta
On May 13, according to the Solana Developer Forum, the "Proposal to Enable Full Priority Fee Rewards for Validators on Solana Mainnet-beta" discussion suggested adjusting the priority fee structure to reward 100% of the priority fees to validators. The initiator of the discussion said that the implementation of this proposal requires the use of feature gating. Although the payment structure for transaction submitters will not change, the software containing this proposal will allocate a larger proportion of fees to validators than previous versions. Therefore, it is critical to ensure a smooth transition of all validators to the feature gate of the new function at the boundary of the period to maintain consistency.
3. Ethereum transaction fees have fallen by nearly 94% in the past 68 days
As reported by bitinfocharts, transactions on the Ethereum blockchain have become cheaper this week, with the average cost now being around 0.00065 ETH, or $1.91 per transaction. In addition, ETH transfers currently cost between 4 and 7 gwei, or $0.18 to $0.37 per transfer. Over the past 68 days since March 5, 2024, Ethereum's network fees have fallen by 93.7%, from $30.33 per transfer to $1.91 per transaction. In addition, the cost of conducting a dex interaction on Ethereum this weekend is estimated to be $4.16 and $7.28, while the cost of conducting an NFT sale could be between $7.03 and $12.31. Over the past 50 days, Ethereum has averaged just over 1 million transactions per day.
4. Ripple CEO: The next target of the US government is Tether
Brad Garlinghouse, CEO of Ripple, said in a recent interview that the next target of the US government is Tether, the stablecoin company responsible for the circulation of USDT stablecoin. Some experts believe that the statement of the Ripple CEO is a very big insider report. If it really happens, then the USDT stablecoin market will see a very large selling pressure, in which case the value of USDT will fall sharply.
5.opBNB testnet nodes must be upgraded to the latest version before the fork on May 15
On May 12, BNB Chain posted on social media that the opBNB testnet nodes must be upgraded to the latest version before the fork on May 15. This upgrade will reduce the Gas fee of the opBNB testnet by 10 times. The opBNB team reminded that all testnet nodes must be upgraded to the latest version before 06:00 UTC on May 15. In addition, this upgrade also includes the transition of DA data from calldata to blob format, as well as changes to multiple op-node configurations. Earlier news, opBNB released version v0.4.0, announcing that it will carry out four hard fork upgrades on the testnet from 06:00-06:30 UTC on May 15, including Snow, Shanghai/Canyon, Delta, and Cancun/Ecotone.
6. GBTC has seen a cumulative net outflow of more than $17.6 billion since the launch of the Bitcoin spot ETF
On May 12, according to Farside Investors data, since the launch of the Bitcoin spot ETF, GBTC has accumulated a net outflow of US$17.6329 billion. According to Coinglass data, GBTC's asset management scale has dropped to US$17.647 billion.
7.SEC says existing framework is sufficient to handle digital asset cases, no new system needed
The SEC filed a document in court, refuting Coinbase's request to re-establish cryptocurrency regulatory rules. The document pointed out that the existing framework is sufficient to deal with digital asset cases and does not require a completely new system. The SEC also emphasized that there is no sufficient economic reason to promote the formulation of new regulations. Coinbase's lawyer Paul Grewal responded that they are confident that the court will make the right judgment.
8.10x Research: Stablecoin inflows have seen almost zero growth since Bitcoin halving
10x Research published an article on the X platform stating that two months ago, 10x Research expressed the view that the crypto market will enter a downward period rather than an upward period after the Bitcoin halving, and some data indicators are currently confirming this judgment. From the beginning of this year to the halving period, $42 billion (liquidity) flowed into the crypto market. However, since the halving, the inflow of stablecoins has almost zero growth, and the leverage ratio of Bitcoin futures has also dropped significantly.
