Today's news tips:
1. Next week's macro outlook: The Fed's interest rate cut prospects are bleak this year, and Trump's divine assistance may usher in a second boiling moment for gold
2. Musk has changed his X account name from Kekius Maximus back to Elon Musk
3. User reports indicate social media platform "X" may be experiencing a malfunction
4.Cetus: Aggregator service has been restored and is working hard to repair system data
5. Tether CEO: Although the United States is reviewing the stablecoin bill, Tether's focus is still on overseas markets
6. James Wynn closed his $1.2 billion BTC long position, with a single loss of about $13.39 million
7. Swiss watchmaker Franck Muller launched a watch tied to the Solana wallet, priced at approximately $24,356
8. In the past 7 days, NFT transaction volume decreased by 0.05% to US$129.8 million, and Avalanche network transaction volume increased by more than 200%
Regulatory News
In the past week, Moody's downgrade of the US sovereign credit rating and Trump's trillion-dollar "Beautiful Big Bill" have once again set off a wave of selling US dollar assets. On Friday, Trump's threat to impose tariffs on the European Union and Apple triggered a "triple kill" of US stocks, bonds and currencies. The US dollar has fallen to a three-week low, and this week it has recorded its largest weekly drop since the announcement of the reciprocal tariff plan in early April. The following are the key points that the market will focus on in the new week:
At 2:40 a.m. on Monday, Federal Reserve Chairman Powell delivered a graduation speech at Princeton University's graduation ceremony.
At 16:00 on Tuesday, Kashkari, 2026 FOMC voting member and President of the Minneapolis Fed, participated in the policy panel discussion of the Japan Institute for Financial Research meeting and delivered a speech.
At 8:00 a.m. on Wednesday, FOMC permanent voting member and New York Fed President Williams will participate in a panel discussion at the Bank of Japan's Financial Research Institute meeting.
At 16:00 on Wednesday, Kashkari, 2026 FOMC voting member and President of the Minneapolis Fed, participated in a dialogue and Q&A session at Keio University.
At 2:00 on Thursday, the Federal Reserve released the minutes of its May monetary policy meeting.
At 20:30 on Thursday, Barkin, a 2027 FOMC voting member and Richmond Fed President, will participate in a fireside chat.
At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending May 24 and the revised annualized quarterly rate of real GDP in the first quarter of the United States will be released.
At 22:40 on Thursday, 2025 FOMC voting member and Chicago Fed President Goolsbee will participate in a question and answer session.
At 4:00 a.m. on Friday, 2027 FOMC voting member and San Francisco Fed President Mary Daly will participate in an economic-related fireside chat at the Oakland Rotary Club.
At 8:25 a.m. on Friday, Logan, 2026 FOMC voting member and President of the Dallas Fed, delivered an opening speech for an event and participated in the dialogue.
At 20:30 on Friday, the U.S. core PCE price index annual and monthly rates for April and the U.S. personal spending monthly rate for April will be released.
Next Friday will see the first US personal consumption expenditure (PCE) inflation and consumption data since Trump's "Liberation Day". Core PCE, the Fed's preferred inflation measure, fell sharply in March, from 3.0% to 2.6% year-on-year. According to the Cleveland Fed's Nowcast model, core PCE year-on-year growth is expected to remain unchanged in April, but overall PCE is expected to slow slightly to 2.2%.
With core inflation unchanged, it’s hard to see the Fed shifting to a more decisive course of action on rates. Realistically, it will take time for much of the inflationary pressure from tariffs to feed through to the data, so it may be months before we know what effect Trump’s tariffs have on price growth.
User reports indicate social media platform "X" is experiencing a suspected outage
According to Jinshi, user reports show that as of 8:35 a.m. EST, more than 25,054 U.S. users have experienced problems on social media platform "X".
New York City police have arrested two suspects in connection with the kidnapping and torturing of an Italian tourist, allegedly in an attempt to extort the tourist into handing over the passwords to his financial accounts. After the Italian tourist escaped from the upscale SoHo apartment where he was being held captive and called the police, police arrested John Woeltz, a 37-year-old man, and a 24-year-old suspected female accomplice. The tourist went to the apartment on May 6 under the guise of a business transaction, and was subsequently captured by John Woeltz, beaten and tortured in an attempt to defraud "millions of dollars, " the New York Post reported, citing people familiar with the matter.
It is reported that the police found several Polaroid photos of the victim being tied up and tortured, as well as guns, chain saws and other tools at the scene. The victim finally escaped and called the police on May 23. John Woeltz was charged with first-degree kidnapping, false imprisonment, assault and illegal possession of weapons.
Viewpoint
James Wynn: Traders must know when to make choices and never count money at the poker table
James Wynn tweeted that (traders) need to know when to persist, when to give up, when to leave, and when to enter. Never count money at the poker table. There is plenty of time to count money after the transaction is completed.
Earlier news , James Wynn closed his $1.2 billion BTC long position, with a single loss of approximately $13.39 million.
According to Bloomberg, Kenneth Rogoff, former chief economist of the International Monetary Fund (IMF) and member of the Federal Reserve Committee, said in an interview that geopolitical tensions and the growing influence of cryptocurrencies are undermining the global status of the US dollar.
Kenneth Rogoff believes that critics who believe that cryptocurrencies are just scams and worthless are completely wrong. "The view that there is no 'fundamental value proposition' in cryptocurrency transactions is wrong." One of the main markets for the US dollar is the global underground economy, and in the past, the preferred payment method for such transactions was the US dollar, but now the preferred payment method is cryptocurrency. Cryptocurrency provides a recognized medium of exchange, which is a value proposition. Even if the government strictly regulates cryptocurrencies, it will still face major challenges in controlling the underground economy. Therefore, Kenneth Rogoff believes that "cryptocurrencies have value." The great difficulty that authorities will face in tracking gray market cryptocurrency transactions means that cryptocurrencies "are not worthless."
Cathie Wood, CEO of ARK Invest, said that crypto exchange-traded funds (ETFs) are likely to maintain their place in the economy no matter how high crypto wallet adoption rates rise over the next decade. "I think ETFs are an important stepping stone because, you know, wallets seem very complicated and there's a lot of friction for consumers who just want to push a button," Cathie Wood said at the Solana Accelerate event in New York on May 23. "So I think ETFs won't lose much appeal for those who are looking for convenience."
Project News
Musk has changed his X account name back to Elon Musk
Swiss watchmaker Franck Muller has launched a collection of 1,111 watches that are linked to the Solana wallet via a QR code on the watch. Each watch is individually numbered and priced at 20,000 francs (about $24,356).
Cetus: Aggregator service has been restored and is working hard to repair system data
In response to questions and concerns from the community such as recent events, funding status and recovery roadmap, the Cetus team released a community update. The affected funds consist of two parts: one part is within Sui, and the other part is mainly bridged outside the ecosystem in the form of ETH. The team is advancing the recovery of funds through white hat negotiations and legal means, and proposes to unlock frozen assets through Sui community PoS voting. Data recovery work on the Cetus protocol is in progress and is expected to take dozens of hours. Among them, the aggregator service has been restored online and supports exchange through partners such as Phantom and Binance Alpha. The aggregator service has no clear dependency on the liquidity pool on Cetus and will continue to be routed through other liquidity sources on Sui. It has been confirmed that the Cetus CLMM pool that was not affected in this incident will resume operation after the accurate position data is fully restored.
Cetus has not yet released a detailed official announcement because it is actively discussing with the Sui Foundation and other community members to finalize the key details of the recovery. The current main focus and efforts are to maximize the recovery of funds and to cooperate with the Sui ecosystem and verification nodes (full recovery of funds requires the full cooperation of the entire ecosystem).
The 212th Ethereum ACDC meeting: Fusaka Devnet-0 will be launched on May 26
According to Tim Beiko's summary of the 212th Ethereum Executive Core Developers Meeting (ACDE), the meeting mainly discussed: Fusaka Devnet-0 will be launched on May 26, Fusaka EIP scope discussion (EIP-7825 sets the upper limit of transaction Gas to 30M; EIP-7918 anchors the Blob rate to the Base Fee to alleviate fee fluctuations; these two are confirmed to be included in Devnet-1), testnet strategy (fork Sepolia first, retain Hoodi for application testing; encourage the community to maintain the testnet for a long time).
Next week the CL call will make a decision on EIP-7917, and at the next ACDE call (in two weeks), the team will finalize the scope of Devnet-2 and review update proposals for EIPs 7212, 7934, 7907, and 5920. Glamsterdam discussions will begin after Fusaka’s scope is finalized.
Although the U.S. Congress is considering bills that will help further integrate stablecoins into mainstream finance, Tether CEO Paolo Ardoino said he will still focus on overseas markets and pay attention to the impact of the Genius Act on foreign issuers.
The more favorable regulatory environment in the United States has also prompted Tether to advance the process of having its reserves audited by one of the Big Four accounting firms. Ardoino also said that Tether is still in talks with the firm. Currently, Tether publishes certification documents signed by BDO Italia SpA every quarter. Regarding the plan of large banks to jointly issue stablecoins, Ardoino said that Tether's customer base is 3 billion people in the world who are not connected to the banking system, and he is not worried about competition.
Financing News
Indian technology startup Data Sutram has completed a $9 million Series A financing round, led by B Capital and Lightspeed Ventures. This round of financing, which consists of Tier 1 and Tier 2 capital, will help the company expand beyond banking into cryptocurrency, gaming, e-commerce, express commerce and insurance, while accelerating its AI product development and international expansion plans in Southeast Asia and the Middle East. Data Sutram's platform uses artificial intelligence and more than 250 external data sources to help banks, non-bank financial companies (NBFCs) and other financial service providers detect synthetic identities, map collusion networks and prevent the creation of "mule accounts."
Important data
James Wynn closed his $1.2 billion BTC long position, with a single loss of about $13.39 million
According to the monitoring of on-chain analyst Yu Jin, James Wynn has completely closed his BTC long positions, with a loss of about $13.39 million. He started to close at 6:40 and closed all positions at 7:27, taking only 47 minutes to close positions worth $1.2 billion. The average opening price of this position was $108,921, and the average closing price was $107,746, with a single loss of about $13.39 million. If the records of opening and closing BTC positions in the past few days are combined, the overall profit of this round of transactions is still about $8.45 million.
James Wynn has opened a 40x leveraged BTC short position, worth about $112 million
According to @ai_9684xtpa monitoring, James Wynn has opened a 40x leveraged BTC short order, holding 1038.71 BTC, worth $112 million, with an opening price of $107,711.1 and a liquidation price of $149,100.
James Wynn has increased his BTC short position to $195 million
According to @ai_9684xtpa, James Wynn has increased his 40x leveraged BTC short position to $195 million. Currently:
James Wynn:
- Long position: 1820.91 BTC, about 195 million USD
- Opening price: $107,507.8
- Liquidation Price: $130,540
- Current floating profit: $570,000
"Insider Brother":
- Short position: 117.81 BTC, about 12.74 million USD
- Opening price: $107,823.2
- Liquidation Price: $115,190
- Current floating profit: $73,000
CryptoSlam data shows that the NFT market has declined slightly in the past week, with transaction volume down 0.05% month-on-month to $129.8 million. Market participation has increased, with the number of NFT buyers increasing by 61.18% to 443,548, and the number of NFT sellers increasing by 31.87% to 199,129. The number of NFT transactions also increased by 15.39% to 1,697,343.
The Ethereum network maintained its lead with $29.6 million in transaction volume, but its transaction volume dropped by 26.22% compared with the previous week. The Avalanche network jumped to second place with $22.3 million in transaction volume, an increase of 202.92%. The Polygon network ranked third with $21.3 million and achieved a growth of 45.98%. The Bitcoin network fell to fourth place with a transaction volume of $18.2 million, a decrease of 21.85% from last week.
This week's top deals include:
- CryptoPunks #3609 sold for 440 ETH ($1,089,338)
- CryptoPunks #2537 sold for 80 ETH ($197,242)
- CryptoPunks #2542 sold for 59 ETH ($155,440)
- CryptoPunks #6479 sold for 58.4 ETH ($149,478)
- CryptoPunks #7161 sold for 53.69 ETH ($142,816)
