Today's news tips:

After launching BTC, ETH and USDT deposit services, Futu Securities plans to support deposit and withdrawal functions for more mainstream cryptocurrencies

China's central bank cuts interest rates and reserve requirement ratio

US senators propose MEME bill to ban president and congress members from issuing Meme coins

Regulatory/Macro

After launching BTC, ETH and USDT deposit services, Futu Securities plans to support deposit and withdrawal functions for more mainstream cryptocurrencies

Futu Securities announced the official launch of Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) recharge services. Qualified investors can complete the recharge, transaction or withdrawal of cryptocurrencies through the Futu Niu Niu App, and flexibly invest in traditional financial assets including Hong Kong stocks, US stocks, ETFs, funds and bonds, to achieve rapid switching between virtual assets and traditional assets. Futu said that the new features are aimed at enhancing the flexibility of cryptocurrency investment and providing investors with a convenient configuration path from Crypto to traditional financial assets (TradFi). In addition, Futu plans to support the recharge and withdrawal functions of more mainstream cryptocurrencies in the future to further optimize the investment experience. According to previous news, Futu Crypto supports BTC and ETH recharges, and USDT is limited to professional investors.

US Senate to Vote on Key GENIUS Stablecoin Bill Thursday

The U.S. Senate will vote on the GENIUS Stablecoin Act on Thursday. The bill requires that stablecoins must be fully backed by assets such as the U.S. dollar and short-term Treasury bonds. Since at least 60 votes are needed to pass, the Republicans need to win the support of some Democratic lawmakers, but some lawmakers in both parties are currently opposed to the bill. Democratic lawmakers believe that the bill requires stricter regulatory measures, especially for foreign stablecoin issuers and anti-money laundering provisions. At the same time, some members of the Republican Party have questioned whether the bill is necessary. In addition, the Democratic Party has also launched an investigation into the relationship between former President Trump and the cryptocurrency industry, further increasing the complexity of the bill's advancement. The results of this vote will have an important impact on the U.S. stablecoin regulatory policy. Earlier, Senator Lummis announced his support for the GENIUS Act to regulate the stablecoin market.

Japanese listed company Metaplanet once again increased its holdings of 555 Bitcoins

According to Metaplanet's announcement, as of May 7, the company has purchased 555 new bitcoins at an average price of 13,824,064 yen (about $89,000), with a total amount of 7.672 billion yen. The current total holdings are 5,555 BTC, with a total investment of 71.763 billion yen (about $465 million). This purchase is part of its "Bitcoin Financial Strategy". The company has continued to raise funds to buy Bitcoin through additional stock and bond issuance since 2024.

US senators propose MEME bill to ban president and congress members from issuing Meme coins

US Senator Chris Murphy said in a statement that he would propose the "MEME Act" to prohibit the president or members of Congress from issuing Meme coins. Murphy said that "Trump Coin is the biggest corruption scandal in the history of the White House" and said that he would work with Congressman Sam Liccardo to promote legislation to curb such behavior.

Bitwise applies for NEAR spot ETF, NEAR joins the US SEC review queue

According to Cointelegraph, crypto asset management company Bitwise has submitted an S-1 document to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of a spot ETF that tracks NEAR tokens. The fund will be managed by Coinbase Custody, and the ETF's trading code, management fee rate, and listing exchange have not yet been disclosed. Bitwise registered the NEAR Trust in Delaware on April 28 and plans to submit a 19b-4 document to formally start the approval process.

China's central bank cuts interest rates and reserve requirement ratio

Pan Gongsheng, governor of the People's Bank of China, announced at a press conference held by the State Council Information Office that the reserve requirement ratio will be reduced by 0.5 percentage points and the policy interest rate will be reduced by 0.1 percentage points. Specifically: First, the deposit reserve ratio will be reduced by 0.5 percentage points, which is expected to provide about 1 trillion yuan of long-term liquidity to the market. Second, the deposit reserve system will be improved, and the deposit reserve ratio of auto finance companies and financial leasing companies will be reduced from the current 5% to 0% in stages. Third, the policy interest rate will be reduced by 0.1 percentage points, that is, the 7-day reverse repurchase operation interest rate in the open market will be reduced from the current 1.5% to 1.4%, which is expected to drive the loan market benchmark rate (LPR) to decline by about 0.1 percentage points at the same time. Fourth, the interest rate of structural monetary policy tools will be reduced by 0.25 percentage points, including: the interest rates of various special structural tools and the interest rates of re-loans for supporting agriculture and small businesses will be reduced from the current 1.75% to 1.5%; the interest rate of mortgage supplementary loans (PSL) will be reduced from the current 2.25% to 2%. In addition, the central bank will lower the interest rate of individual housing provident fund loans by 0.25 percentage points, and the interest rate for the first set of houses with a term of more than 5 years will be reduced from 2.85% to 2.6%. The interest rates of other terms will be adjusted simultaneously. The re-lending quota for scientific and technological innovation and technological transformation will be increased by 300 billion yuan from the current 500 billion yuan to 800 billion yuan, and the implementation of the "two new" policies will be continuously supported. The People's Bank of China will set up 500 billion yuan of service consumption and pension re-lending to increase low-cost funding support for key consumer areas.

New Hampshire becomes first state in the U.S. to pass “strategic bitcoin reserve” legislation

According to a statement released by Satoshi Action Fund, New Hampshire officially signed HB 302, becoming the first state in the United States to pass the "Strategic Bitcoin Reserve" (SBR) legislation. The bill authorizes the state treasurer to purchase Bitcoin or digital assets with a market value of more than $500 billion, and sets the holding limit at 5% of the total reserve funds. The reserve assets must be managed through a multi-signature mechanism or exchange product that complies with US regulatory compliance to ensure transparency and security. The bill will officially take effect in 60 days.

Project News

Binance adds 6 more tokens including ALPHA, HIFI to watchlist

Binance announced that it will add six new tokens to the Monitoring Tag list on May 7, including Stella (ALPHA), Hifi Finance (HIFI), LeverFi (LEVER), Movement (MOVE), Portal (PORTAL), and Rei Network (REI).

Binance airdrops ZKJ tokens: Alpha users with 142 points will receive 50 tokens, and users with 64-141 points and a UID ending in 2 will receive a lucky airdrop

According to Binance's announcement, Polyhedra Network (ZKJ) has been listed on the Binance Alpha zone. All users with Alpha points of 142 or more will receive an airdrop of 50 ZKJ tokens; users with points between 64 and 141 and a UID ending in 2 will receive a lucky airdrop of 50 ZKJ. Alpha points are used to evaluate the user's activity in Binance Alpha and its wallet ecosystem, and participation in the airdrop must meet regional compliance requirements.

STPT will be renamed AWE, Binance launches token swap and brand upgrade

According to Binance's announcement, Standard Tokenization Protocol (STPT) will undergo a token swap and upgrade its brand to AWE Network (AWE). Binance will stop STPT trading at 11:00 (UTC+8) on May 19, and open AWE trading at 16:00 on May 21, with tokens automatically swapped at a 1:1 ratio. The original STPT deposit and withdrawal will be suspended on May 19, and AWE deposit will be open on May 21. Other related services (such as leverage, earning coins, flash exchange, etc.) will be phased out of STPT and transitioned to AWE.

Binance Alpha adds Polyhedra (ZKJ)

The Binance APP page shows that Binance Alpha has added Polyhedra Network (ZKJ).

Moonshot is available on urmom ($urmom)

Moonshot announced the listing of the new Solana chain urmom ($urmom). Its current market value is approximately US$12.4 million, and its 24-hour trading volume is US$22.1 million.

Movement Labs reorganizes as Move Industries, implements new governance and product roadmap

According to the official announcement of Movement, the project has been reorganized into Move Industries and entered a new phase. Torab (current CEO and ecosystem architect) and Will (current president and CMO), two early employees of Movement Labs, took over the leadership and announced the promotion of a new governance structure and technical route, emphasizing "returning to the community and the essence of technology." In the future, MoveDrop airdrops, Parthenon projects and major technical upgrades will be launched.

Binance announces postponement of additional MOVE HODLer airdrops

According to Binance's announcement, the Movement (MOVE) additional holder airdrop (5% of the total supply) originally scheduled for December 2024 (launched approximately six months after spot listing) will be postponed due to the recent turmoil in the project, and the specific distribution time is subject to further explanation from the project party. Binance stated that it will temporarily keep the airdrop tokens and disclose the wallet address to ensure transparency.

Solayer will unlock the second quarter tokens on May 16, 100% of which will be used for ecological incentives and growth

According to the Solayer Foundation announcement, the next round of community tokens will be unlocked on May 16, all of which will be used for second-quarter incentives, early users, InfiniSVM developers and ecosystem development, including native product launches and product growth plans. The foundation said that it will announce token distribution details and new product release plans in May.

Binance will support Ethereum network upgrades and hard forks, suspending deposit and withdrawal services for multiple EVM chains

According to Binance's announcement, Binance will suspend the deposit and withdrawal of tokens of ETH, Arbitrum, Optimism, zkSync Era, Base, Manta, Starknet, Polygon, Metis, Scroll, Cyber, Metal DAO, Celo and Worldcoin networks from 17:45 (Beijing time) on May 7, 2025 to support the upgrade and hard fork of the ETH network at 18:05. Transactions will not be affected during this period, and Binance will handle technical issues on behalf of the network. Deposit and withdrawal will be resumed after the network is stable without further notice.

Coinbase launches open source payment protocol x402 based on HTTP

Coinbase Developer Platform announced the launch of a new open source payment protocol x402, which aims to activate the long-unused HTTP 402 status code "Payment Required" on the Internet, and transform it into a real on-chain payment layer, suitable for new scenarios such as API service providers, content creators, and contextual protocols. x402 allows servers to request payments, and clients (including humans and intelligent agents) respond instantly, supporting micropayments on a pay-per-use basis without cumbersome subscriptions. Coinbase said that the protocol is expected to simplify the Web3 payment process and provide new infrastructure for the proxy economy and on-chain services. Currently, x402 has been open sourced and developers are welcome to participate in co-construction.

Doodles announced that $DOOD will be listed on Solana and launch a 13% airdrop plan

According to the official announcement of Doodles, $DOOD tokens will be issued as native assets of the Solana chain and will be airdropped to eligible wallet addresses during the TGE (token generation event). Holders of multiple types of collections such as OG Doodles, Space Doodles, Dooplicators, etc. can be allocated, and 13% of the tokens will be allocated to users of cooperative communities such as Bonk, Solana Mobile, and Helius. Users who have not pre-registered can manually claim them within 77 days after the TGE. The official plan is to bridge $DOOD to the Base chain in the future to achieve cross-chain circulation. The first batch of cooperative communities include: BonkBot active traders, the top 2,500 wallets of Bonk rewards, drip.haus active creators and Doodles collection holders, Solana Mobile pre-orderers, the top 2,500 wallets of Vector broadcast volume, the top 5,000 pledgers of Helius, ElizaOS contributors, "The Pond" NFT holders (snapshot on May 6), etc. The BSC community (TST, Mubarak, Babydoge, etc.) airdrops will be issued by their respective projects. The community qualification check tool for the Solana ecosystem will be launched soon.

Important data

ALPHA and PORTAL may have been affected by being added to the Binance Watch tag, and they fell by more than 15% in a short period of time

According to Binance market data, ALPHA and PORTAL fell by more than 15% in a short period of time, possibly due to the addition to the Binance watch label. Among them: ALPHA fell by 17.82% in a short period of time and is now quoted at $0.024; PORTAL fell by 17.35% in a short period of time and is now quoted at $0.0649; REI fell by 14.5% in a short period of time and is now quoted at $0.021. LEVER fell by 14.08% in a short period of time and is now quoted at $0.00047; MOVE fell by 13.68% in a short period of time and is now quoted at $0.1538; HIFI fell by 6.83% in a short period of time and is now quoted at $0.234; According to previous news, Binance added 6 tokens including ALPHA and HIFI to the watch list.

Trump family project WLFI transfers more than $4.5 million in assets to an unknown wallet

According to Onchain Lens monitoring, 5 hours ago, World Liberty Finance (WLFI) transferred crypto assets worth approximately US$4.54 million to an unknown wallet address, including: 103,911 AVAX (worth US$2.04 million), 5.98 million SEI (worth US$1.18 million), and 7.58 million MOVE (worth US$1.32 million), of which MOVE was subsequently transferred to the Ceffu wallet.

Financing

Nasdaq-listed company Thumzup plans to raise its fundraising limit from $200 million to $500 million to buy Bitcoin

Thumzup Media Corporation (NASDAQ: TZUP), a NASDAQ-listed company, announced that it will increase its financing registration quota from $200 million to $500 million, preparing to raise more funds through the issuance of stocks, bonds, etc. in the next three years. The company currently holds 19.106 bitcoins (approximately $1.8 million) and plans to invest up to 90% of its liquid assets in bitcoin to further strengthen its digital asset strategy. No securities have been sold yet, and specific financing plans will be announced separately. Earlier news, Thumzup, a NASDAQ-listed company, submitted an S-3 registration statement, intending to issue up to $200 million in securities and acquire bitcoin.

Fuze, a Middle Eastern digital asset company, completes $12.2 million Series A financing, led by Galaxy and e& Capital

Fuze, a digital asset infrastructure company in the Middle East and Turkey, recently completed a $12.2 million Series A financing round led by Galaxy Digital and e& capital. Fuze provides "digital asset as a service" infrastructure for financial institutions and enterprises in MENA and Turkey, and has launched stablecoin and payment products FuzePay. The funds will be used to accelerate regional and global expansion, product innovation and compliance. Fuze said that in the next 12 months, almost all financial institutions will adopt crypto or stablecoin services.

Coinbase founder's anti-aging company NewLimit completes $130 million financing, led by Kleiner Perkins

NewLimit, a biotech company co-founded by Coinbase founder and CEO Brian Armstrong, has completed a $130 million Series B financing round led by Kleiner Perkins. The company focuses on epigenetic reprogramming technology, repairing aging cells through AI and single-cell sequencing technology, and has made breakthrough progress in the regeneration of liver and immune system cells. Armstrong said that this technology is expected to "double" human life expectancy again. NewLimit uses artificial intelligence to reduce the cost of a single cell test to a few cents, greatly accelerating the research process. The company plans to launch non-human primate experiments in the next two years and seek permission for human clinical trials around 2028. Ilya Fushman, partner at Kleiner Perkins, pointed out that the technology is advancing anti-aging research at an unprecedented rate in the industry through the combination of large-scale genomics and cutting-edge AI.

Dogecoin ecosystem application development layer DogeOS completes $6.9 million financing, led by Polychain Capital

DogeOS, the application development layer of Dogecoin ecosystem, has completed a $6.9 million financing led by Polychain Capital. The project aims to provide developers with operating system-level tools based on the Dogecoin blockchain to support the development of consumer applications such as games and AI. Jordan Jefferson, CEO of the MyDoge wallet development team, said that the demand from the existing 500,000 wallet users shows that the community has strong expectations for native Dogecoin applications. This financing will accelerate the transformation of Dogecoin from a simple payment token to a multi-functional ecosystem. By simplifying the development process, DogeOS is expected to promote more DeFi and entertainment applications to integrate DOGE payments and enhance its actual usage scenarios.

Binance will delist ALPHA, BSW and other 5 tokens on July 4

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