1. Uniswap founder: Those who are close to Biden need to be urged to immediately reverse their attitude towards cryptocurrencies
Uniswap founder Hayden Adams tweeted that Hillary's campaign in red states instead of swing states was a serious miscalculation by the Biden camp, who believed that cryptocurrencies would not be important in the 2024 election and allowed the US SEC and US Senator Elizabeth Warren to engage in an all-out war over voters and funds. Biden has little time to save the situation. Anyone close to him or the Democratic leadership should express how serious this matter is and urge an immediate reversal of his attitude towards cryptocurrencies (publicly support/plan and restrict SEC + Warren).
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2. Tether CEO: Competing companies are maliciously spreading USDT-related FUD
Tether CEO Paolo Ardoino tweeted that a Tether competitor that is under investigation by the SEC is spreading FUD about Tether and USDT. Ardoino reiterated the security of the Tether ecosystem, mainly including that Tether stablecoin complies with OFAC/SDN regulations; Tether has an internal investigation team that relies on various tools to monitor the primary and secondary markets; Tether has frozen more than $1.3 billion since its inception, mainly related to fraud, hacker attacks, machine learning, etc.
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3. Six people arrested in Jilin for using virtual currency to exchange RMB and Korean won
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 6 suspects who committed crimes in China and South Korea. According to the police, the suspects involved in the case took advantage of the anonymous transactions, decentralization, and borderlessness of virtual currency to illegally conduct RMB and Korean won exchange business. The police found out that the criminal gang in the case used domestic accounts to receive and transfer funds, OTC virtual currency trading, and Korean won settlement to illegally engage in foreign exchange exchange business, helping Korean purchasing agents, cross-border e-commerce, import and export trading companies and other groups to realize RMB and Korean won exchange.
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4. Parity multi-signature wallet incident hackers began to launder money, stealing 150,000 ETH in 2017
The multi-signature wallet of Parity, the parent company of Polkadot, was stolen 150,000 ETH (worth about $30 million at the time) due to a security vulnerability in 2017. Today, the hacker used multiple merged addresses to launder 3,050 ETH through eXch, worth $9 million. In addition, the hacker still controls 83,017 ETH on the main address, which is now worth $246.6 million.
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5. Bitfinex parent company iFinex announced a partnership with the Salvadoran government
iFinex will assist El Salvador in developing laws, regulations and guidelines related to cryptocurrencies. iFinex is also responsible for advising the Salvadoran government on the issuance and promotion of digital asset transactions, including the issuance of "volcano bonds" secured by Bitcoin and the construction of energy infrastructure for Bitcoin mining. In addition, Bitfinex Securities officially launched a token bond project to build a new Hilton Hampton Hotel at the El Salvador International Airport, with a total target of $6.25 million, an annualized interest rate of 10%, a period of 5 years, and a minimum investment of $1,000.
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6. Wu said this week's macroeconomic indicators and analysis: US CPI, speeches by Fed officials
Summary
This week, the focus will be on the U.S. CPI inflation data for April, which will greatly affect the Fed’s subsequent monetary policy path and the market’s expectations of that path; in addition, attention can be paid to relevant speeches by several Fed officials.
Last week review
●2024 FOMC voting member and Richmond Fed President Barkin delivered a speech on the economic outlook: The full impact of the rate hike has not yet fully emerged, and it is believed that the current restrictive interest rate level is sufficient to curb demand.
●The Reserve Bank of Australia decided to continue to keep the benchmark interest rate unchanged at 4.35%.
●Summary of opinions from the Bank of Japan's April meeting: Most members turned hawkish and called for a steady increase in interest rates.
●The Bank of England kept its base rate unchanged at 5.25% for the sixth consecutive time.
●Minutes of the ECB’s April meeting: prepared for a rate cut in June.
●The expected one-year inflation rate in the United States rose to 3.5% in May, compared with 3.2% in April.
This week's key events & indicators
May 14
●US PPI annual rate in April (20:30)
●Fed Chairman Powell and ECB board member Knot attended a meeting and delivered speeches (22:00)
May 15
●US April CPI (20:30)
May 16
●Initial jobless claims in the U.S. for the week ending May 11 (10,000 people) (20:30)
●Fed Vice Chairman Jefferson speaks on the economy (03:20)
May 17
●2024 FOMC voting member and Cleveland Fed President Mester spoke on the economic outlook (00:00)
●2024 FOMC voting member and Atlanta Fed President Bostic spoke on the economic outlook (03:50)
