According to Cyvers Alerts system monitoring, PinkDrainer has transferred $5.9 million to other addresses through 5 different addresses, and 600 ETH worth $200,000 has been transferred.
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According to data from The Block Pro, reported by Jinse Finance, the stablecoin on-chain transaction volume increased by 23.7% after the April adjustment, reaching a historical high of $1.1 trillion; the supply of stablecoins issued has also increased by 2.8% to reach $141.2 billion, with the market share of the US dollar stablecoin USDT increasing to 77.83%, while the market share of USDC has slightly decreased to 18.1%. However, the total on-chain transaction volume of Bitcoin and Ethereum after the April adjustment decreased by 30.5% to reach $408 billion, with the on-chain transaction volume of Bitcoin dropping by 30.85% and the on-chain transaction volume of Ethereum dropping by 30.2%.
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The left-wing Democratic Party of Korea plans to ask financial regulators to review the currently banned trading of spot bitcoin exchange-traded funds (ETFs). This marks the party's next move to make spot bitcoin funds available locally. In the April election, the opposition Democratic Party won a major victory, securing 175 of the 300 seats in the local legislature, while the ruling conservative party won 108 seats. The party had promised to allow local financial institutions to launch spot crypto ETFs and allow individual investors to buy these funds through tax-free accounts. A report from BloomingBit cited a member as saying that once the 22nd National Assembly of Korea opens in June, the Democratic Party plans to ask the Financial Services Commission, the country's top financial regulator, to re-examine spot bitcoin ETFs with the aim of opening such products locally. Reportedly, the FSC concluded that there is no legal basis to indicate that bitcoin or other cryptocurrencies can serve as underlying assets for such products, so currently spot bitcoin ETFs cannot be issued or traded.
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According to ChainArgos monitoring, on May 7th, Tether issued a total of $34 million USDT and redeemed $68 million USDT.
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The Digital Chamber of Commerce, a cryptocurrency trading association, condemned the SEC's submission of a Wells notice to Robinhood Crypto. In a statement released on May 6th, the association expressed "deep disappointment and concern" about this action and called it an example of excessive regulation.
The Digital Chamber emphasized that it has always opposed the SEC's expansion of its jurisdiction without congressional authorization. It noted that Congress is actively considering legislation to define regulatory jurisdiction over cryptocurrencies and that the SEC has violated this process.
To address the jurisdictional issue, the Digital Chamber urged "immediate legislative action" and called for SEC Chairman Gary Gensler to be compelled to testify before Congress.
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Jupiter founder meow posted on social media that he has been intensively making some more basic backend improvements to Jupiter to improve the core system. Expected improvements include (but are not limited to):Perp latency: How to reduce latency and increase normal operating time;Token search: Easily filter, search, and sort millions of new tokens that are coming soon;Routing: Quickly integrate tokens and market sets into Jupiter's routing engine and automatic slippage engine, while improving the problem of transient false routing;Safety and convenience: Maintaining a balance between making transactions as secure as possible while remaining as convenient as possible.
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Kenyan President William Ruto announced that the government has appointed Bitcoin miner Marathon Digital as an advisor to discuss cryptocurrency regulations with the Kenyan Ministry of Finance and Energy. Marathon Digital will also discuss energy requirements related to cryptocurrency mining with the Energy Ministry.
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Cyvers Alerts system monitoring showed that in November of last year, the Polish exchange fell victim to a security vulnerability, losing about $125 million worth of hot wallets. Today, hackers deposited 1,126 ETH (worth $3.4 million) into Tornado.cash.
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Justin Bons, the founder of Cyber Capital, stated on X platform that the SUI Foundation has responded, and the fact proves that all of SUI's "undistributed" supply has been allocated, and the upcoming tokens to be released have confirmed my statement, that over 84% of the shares are controlled by the "founders".
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10x Research stated on X platform that the current cryptocurrency bull market cycle may be shorter than previous cycles and is unlikely to reach its climax during a widespread rebound in altcoins, despite daily trading volumes exceeding $100 billion and cryptocurrency projects rapidly developing and updating. However, the growth potential of the industry is still greatly limited; real-time on-chain analysis keeps cryptocurrency traders engaged, contrasting with traditional stock investors who wait for quarterly returns. Nevertheless, challenges facing the cryptocurrency market may limit the breadth and duration of the bull market. In the next ten weeks, nearly $2 billion worth of tokens will be unlocked in succession, which may lower the market price of altcoins.
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According to PUBLIC CITIZEN, a cryptocurrency industry-backed super PAC has raised over $102 million, ranking third among all super PACs participating in the 2024 election. More than half of the political funds for the cryptocurrency super PAC (about $54 million) come from direct corporate spending, mainly from Coinbase and Ripple Labs.It is reported that four of the eight corporate cryptocurrency super PAC donors have settled or face charges from the US Securities and Exchange Commission (SEC) for alleged violations of securities laws, with Ripple Labs alone facing a fine of nearly $2 billion.
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