Today's news tips:
The initiator of the US stock GME retail investor group event returned again three years later, driving the related MEME coins to surge
Ripple CEO: The US government’s next law enforcement target is Tether
Jilin Panshi police cracked a case of illegal operation of underground banks using virtual currency, involving an amount of about 2.14 billion yuan
L3 chain Degen Chain has stopped producing blocks for about 14 hours
Notcoin will distribute approximately 5% of its token supply to more than 500,000 community members and exchange users
Data: About $1.4 billion worth of tokens will be unlocked next week, including $1 billion in AEVO
CoinShares: Digital asset investment products saw a net inflow of $130 million last week
BB briefly touched $0.6 after listing on Binance, and is currently up about 1837% from its opening price.
Regulatory News
Türkiye plans new cryptocurrency regulations
Turkey is preparing to submit a new law to regulate crypto assets to parliament. The legislation aims to align with international standards and reduce the risks associated with cryptocurrency trading. The Capital Markets Board will impose strict supervision on the licensing and operation of crypto trading platforms. It will also ensure the safe custody of assets, establish transparent platform-customer relationships, and clarify sanctions for violations. The draft legislation is expected to be submitted to parliament within a week. The move, which has been strongly supported by Turkish Finance Minister Mehmet Şimşek, aims to remove Turkey from the "grey list" of financial crime regulators and improve its status under the Financial Action Task Force (FATF) standards.
Jilin Panshi police cracked down on illegal underground bank operation using virtual currency
According to China News Network, the Public Security Bureau of Panshi City, Jilin Province, successfully cracked a case of illegal operation of underground banks using virtual currency, involving an amount of about 2.14 billion yuan, and arrested six suspects who committed crimes in China and South Korea. According to the police, the suspects in the case took advantage of the anonymous transactions, decentralization and borderlessness of virtual currency to illegally conduct RMB and Korean won exchange business.
It is understood that the Economic Investigation Brigade of the Panshi Municipal Public Security Bureau discovered important clues during their work. Jin Moudong, a resident of Jilin, and Shen Mou conducted Korean won exchange business in South Korea and China, and in the process defrauded others of money and fled back to China. In response to the clues, the police found that the bank accounts under the names of the two had huge transaction flows, with frequent daily inflows and outflows of funds and varying amounts of money. There were many trading customers, and the flow of funds met the characteristics of illegal operations of underground banks. The police task force conducted a comprehensive analysis of the whereabouts of Jin Moudong and Shen Mou's bank funds and social relations, expanded the organizational structure and transaction levels, and gradually fully grasped the gang's organizational structure and whereabouts of funds. Subsequently, the police successfully arrested the criminal suspects Jin Moudong, Shen Mou and others, and seized a large number of bank cards and tools involved in the case in accordance with the law.
The police found out that the criminal gang in this case used domestic accounts to receive and transfer funds, OTC virtual currency trading, Korean won settlement and other methods to illegally engage in foreign exchange business, helping Korean purchasing agents, cross-border e-commerce, import and export trading companies and other groups to realize the exchange of RMB and Korean won. Through a large number of investigations and evidence collection, the police successively arrested Chen Mouguang, Luo Moutao, He Mouda, Zheng Mouyu and others.
Philippine central bank approves PHPC stablecoin pegged to peso
The Bangko Sentral ng Pilipinas (Bangko Sentral ng Pilipinas) has approved a stablecoin pegged to the Philippine peso, PHPC, aimed at facilitating low-cost remittance services. The issuer, cryptocurrency exchange Coins.ph, plans to attract 20,000 to 30,000 users in the first month. PHPC will be the first peso-backed stablecoin for retail, offering instant trading services around the clock. The stablecoin is backed by cash and equivalents deposited in Philippine banks and will initially be launched on the Coins.ph platform, with plans to expand to other platforms.
AI
ChatGPT may become an AI voice assistant to challenge Siri and Google Assistant
According to The Paper, with the new product launch imminent, Altman's latest statement may imply that OpenAI is aiming for an artificial intelligence voice assistant. On May 11, local time, Sam Altman, CEO of artificial intelligence (AI) giant OpenAI, said in a podcast that OpenAI will continue to improve and enhance the quality of ChatGPT's voice functions, and expressed his belief that voice interaction is an important path to future interaction methods. Altman said: "The multimodal interaction capability is very powerful, for example, you can ask: 'Hey, ChatGPT, what am I looking at' or 'I'm not quite sure what kind of plant this is.'" According to foreign media reports, the function that OpenAI is developing is an artificial intelligence voice assistant that can compete with Apple's Siri and Google's voice assistant. Earlier news, OpenAI will start a global live broadcast in the early morning of May 14, but will not release GPT-5 and AI search engines.
Project News
Ripple CEO: The US government’s next law enforcement target is Tether
According to CryptoDaily, Ripple CEO Brad Garlinghouse said in a recent interview that the next law enforcement target of the US government is USDT issuer Tether. He believes that Tether is an important part of the crypto market system and he is not sure what impact this will have on the market. A few months ago, some reports from government agencies stated that Tether (USDT) is a payment option for terrorist organizations, illegal financing and money laundering. At that time, Tether executives said that USDT had never been used for any large-scale illegal activities, and small-scale abuse of USDT had been successfully stopped.
io.net Season 1 Final Worker Points have been updated and will not change
The Solana ecosystem DePIN protocol io.net announced this morning that its final points for Season 1 have been updated and users can check them on the IO Worker page. At the same time, the project owner stated that there will be no other changes to the Season 1 points.
Ghana plans to create Africa's first blockchain-powered government to fight corruption
The next phase of Ghana’s digitalization plan is to establish itself as Africa’s first blockchain-powered government, Vice President Dr. Mahamudu Bawumia said recently. The technology’s automation capabilities could save Ghana and the continent billions of dollars lost to corruption.
El Salvador’s National Bitcoin Office launches its mempool space, which tracks its Bitcoin vault assets in real time
According to the El Salvador National Bitcoin Office (ONBTC), they have launched their own mempool space that can track their Bitcoin vault assets in real time. As of now, El Salvador holds 5,748.76 Bitcoins.
L3 chain Degen Chain has stopped producing blocks for more than 10 hours
According to information from the official blockchain browser, the L3 chain Degen Chain launched by Syndicate has not produced any blocks for 10 hours.
Subsequently, Degen officials stated that they encountered problems with Farcaster data delays and L3 chain downtime on Dune, and are currently working with Conduit to resolve this issue.
As of 18:41 Beijing time, Degen Chain has not produced a block for 14 hours.
The initiator of the US stock GME retail investor group event returned again three years later, driving the related MEME coins to surge
YouTube anchor "Roaring Kitty", who once helped drive GameStop's stock price soaring, returned to Twitter (X) today after three years and posted a picture. As a result, its eponymous MEME token $KITTY soared more than 55 times in 24 hours, with a current market value of $7.2 million and a 24-hour trading volume of more than $10 million. In addition, the $GME token also soared 343%, with a market value of approximately $17 million.
BounceBit: Users can now view the number of airdrops available, which will be automatically distributed within a few hours
Bitcoin staking chain BounceBit said on the X platform that the BounceBit Portal has just been updated, and users can now view the number of airdrops available. There is no need for users to claim, and the airdrops will be automatically distributed within a few hours. In addition, Premium Yield has been reopened for staking.
Notcoin will distribute approximately 5% of its token supply to more than 500,000 community members and exchange users
Notcoin, a game & meme project in the Telegram ecosystem, tweeted that it will distribute about 5% of the token supply to more than 500,000 community members and exchange users. Among them, Wallet users on Telegram will receive 1 billion Notcoin as a total reward, and will provide opportunities to earn Notcoin through TON. The event will end on May 25.
Guotai Junan International (01788.HK) launches virtual asset spot ETF structured product
According to AASTOCKS, Guotai Junan International (01788.HK) announced that it has taken the lead in launching structured products based on virtual asset spot ETFs in the Hong Kong market. As a distributor of virtual currency spot ETFs in Hong Kong, the company now supports investors in purchasing listed virtual asset ETF products and provides customers with a new way to invest in virtual asset ETF equity-linked notes (ELNs). In the future, Guotai Junan International will continue to pay close attention to ETF market trends, grasp new market investment trends, and continuously enrich its product portfolio to provide virtual asset investment solutions for Hong Kong and even global investors.
Important data
Data: About $1.4 billion worth of tokens will be unlocked this week, including $1 billion in AEVO
According to Token Unlocks data, AEVO and other tokens will have a one-time large-scale unlock next week, with a total release value of approximately US$1.4 billion. Among them:
Aptos (APT) will unlock approximately 11.31 million tokens on May 13th (Beijing time), accounting for 2.64% of the circulation, worth approximately US$96 million;
DYDX (DYDX) will unlock approximately 2.12 million tokens on May 15th (Beijing time), accounting for 0.79% of the circulation, worth approximately US$4.3 million;
Starknet (STRK) will unlock approximately 64 million tokens on May 15th (Beijing time), accounting for 8.79% of the circulation, worth approximately US$77 million;
Aevo (AEVO) will unlock approximately 827 million tokens on May 15th (Beijing time), accounting for 752.36% of the circulation, with a value of approximately US$1 billion;
Arbitrum (ARB) will unlock approximately 92.65 million tokens on May 16 (Beijing time), accounting for 3.49% of the circulation, worth approximately US$9,200;
Render (RNDR) will unlock about 760,000 tokens on May 17th, Beijing time, accounting for 0.2% of the circulation, worth about US$8.3 million;
ApeCoin (APE) will unlock about 15.6 million tokens on May 17th (Beijing time), accounting for 2.48% of the circulation, worth about US$19 million;
Immutable (IMX) will unlock approximately 25.53 million tokens on May 17 (Beijing time), accounting for 1.75% of the circulation, worth approximately US$5,500;
Nym (NYM) will unlock approximately 3.02 million tokens on May 18 (Beijing time), accounting for 0.39% of the circulation, worth approximately US$470,000;
Manta Network (MANTA) will unlock approximately 6.67 million tokens on May 18th (Beijing time), accounting for 2.66% of the circulation, worth approximately US$11 million;
Oasis Network (ROSE) will unlock approximately 171 million tokens on May 19th (Beijing time), accounting for 2.54% of the circulation, worth approximately US$14.8 million;
Pixels (PIXEL) will unlock approximately 54.37 million tokens on May 19th (Beijing time), accounting for 7.05% of the circulation, worth approximately US$20 million;
The suspected Ethereum Foundation address exchanged 100 ETH into 292,600 DAI 20 minutes ago
According to Arkham monitoring, the address marked as the Ethereum Foundation (starting with 0xd7) exchanged 100 ETH into 292,600 DAI through Cow Protocol 20 minutes ago.
Data: Today’s trading volume of 6 Hong Kong virtual asset ETFs is about HK$24.88 million
Hong Kong stock market data shows that as of the close, the transaction volume of the six Hong Kong virtual asset ETFs today was HK$24.8842 million, more than double that of the previous trading day. Among them, the transaction volume of China Asset Bitcoin ETF (3042.HK) was HK$10.8411 million, the transaction volume of China Asset Ethereum ETF (3046.HK) was HK$2.1887 million, the transaction volume of Harvest Bitcoin ETF (3439.HK) was HK$5.0768 million, the transaction volume of Harvest Ethereum ETF (3179.HK) was HK$2.5209 million, the transaction volume of Bosera HashKey Bitcoin ETF (3008.HK) was HK$3.8372 million, and the transaction volume of Bosera HashKey Ethereum ETF (3009.HK) was HK$419,500.
CoinShares: Digital asset investment products saw a net inflow of $130 million last week
According to CoinShares weekly data, digital asset investment products saw their first inflow in five weeks last week, with a total of $130 million. However, ETP trading volume continued to decline, with $8 billion this week, compared to an average of $17 billion in April. Bitcoin inflows reached $144 million, and short Bitcoin ETPs had a total outflow of $5.1 million, bringing the outflow to $18 million over the past eight weeks. U.S. regulators have had less interaction with ETF issuers applying for Ethereum ETF spot, increasing speculation that the ETF will not be approved soon, which has been reflected in outflows totaling $14 million last week.
BB briefly touched $0.6 after listing on Binance, and is currently up about 1569% from its opening price
Binance market data shows that BounceBit's BB token briefly touched $0.6 after being listed on Binance, and has now fallen back to $0.0.3972, up 1568.91% from the opening price of $0.0238.
As of 18:45 Beijing time, the price of BB on Binance was US$0.4612, up 1837.82% from the opening price.
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