● US Bitcoin spot ETF weekly trading volume hit a new high, nearly 1,000 companies participated in the purchase
According to Odaily Planet Daily, the weekly trading volume of the U.S. Bitcoin spot ETF has reached US$5.65 billion, the highest level since March 24. The trading volume of Bitcoin investment products has surged, and nearly 1,000 U.S. companies have purchased Bitcoin spot ETFs.
● Fed Governor Bowman: If inflation stagnates or rebounds, he is willing to support the Fed to restart interest rate hikes
According to Jinshi, Federal Reserve Board member Bowman said that inflation will remain high for some time. He further pointed out that if inflation stagnates or rebounds, he is willing to support the Fed to restart interest rate hikes.
● Analysts: Gold prices rose for the second consecutive week, inflation is slowing down and the probability of interest rate cuts is increasing
Gold prices rose for the second week in a row on Friday as expectations of a rate cut improved, supporting gains in silver and platinum, according to Jinshi. Silver and platinum rose more than 5.5% and 6% respectively this week. Kinesis Money market analyst rank Watson said signs that inflation may be slowing have increased the likelihood of rate cuts in the coming months, which tends to support gold and silver prices.
● CryptoQuant CEO predicts Bitcoin bull run could end in April 2025
According to Odaily Planet Daily, CryptoQuant CEO Ki Young Ju posted on the X platform that Bitcoin is in the middle of a bull market, with its market value growing faster than its actual market value, a trend that usually lasts about two years. If this pattern continues, the bull market cycle may end in April 2025.
● In April, the total investment in blockchain games reached US$988 million, a record high in 2021
According to Wu, DappRadar and the Blockchain Game Alliance released the April blockchain game report on May 17. The report shows that the total investment in blockchain games in April reached US$988 million, the highest level since January 2021.
● Binance assisted Taiwan law enforcement agencies in cracking a major virtual asset case involving nearly NT$200 million
Binance Financial Crimes Compliance, together with the Investigation Bureau of the Ministry of Justice of Taiwan and the Taipei District Prosecutors Office, has cracked a major criminal case involving money laundering using virtual assets, involving an amount of NT$200 million. Currently, Luo Weiyuan, the prosecutor of the Taipei District Prosecutors Office who is in charge of the case, has indicted a total of 9 suspects in the case last month on suspicion of aggravated fraud, violation of the Anti-Money Laundering Act and the Prevention of Organized Crime Act.
● The U.S. state of Oklahoma passed a bill to protect residents’ rights to self-custody digital assets
According to Blockworks, the U.S. state of Oklahoma has passed a bill to protect the rights of state residents to self-custody digital assets. The bill will take effect on November 1, 2024. According to the bill, Oklahoma prohibits restrictions or prohibitions on the use of "self-custodial wallets or hardware wallets" to self-custody digital assets. Oklahoma residents can mine at home and in industrialized areas. In addition, the bill also stipulates that discriminatory electricity prices shall not be imposed on digital asset mining operations. Residents can use cryptocurrencies to pay for goods and services without paying additional taxes.
