Headlines
▌BTC Breaks Through $97,000
Market data shows BTC breaking through $97,000, currently trading at $97,018.29, with a 24-hour increase of 2.42%. The market is experiencing significant volatility, so please manage risks carefully.
▌Pakistan and India Exchange Fire in Pakistan-Controlled Kashmir
According to the Pakistan Armed Forces News Bureau on May 7, Pakistan and India have begun exchanging fire along the Line of Control in Pakistan-controlled Kashmir, with Pakistan launching ground and air combat operations. India's Ministry of Defense confirmed in a dawn press release on the 7th that the Indian Armed Forces launched Operation "Sindhu" to strike facilities in Pakistan and Pakistan-controlled Kashmir. The press release stated that the region had planned and directed attacks against India.
Market
As of press time, according to Coingecko data:
BTC last traded at $96,970.02, with a daily change of +2.5%;
ETH last traded at $1,819.20, with a daily change of +0.2%;
BNB last traded at $604.18, with a daily change of +1.1%;
SOL last traded at $147.10, with a daily change of +0.6%;
DOGE last traded at $0.1726, with a daily change of +1.4%;
XPR last traded at $2.15, with a daily change of +1.2%.
Policy
▌US CFTC Withdraws Appeal Against Crypto Prediction Platform, Kalshi Says "Election Contracts Will Continue to Exist"
Kalshi posted on X platform that the US Commodity Futures Trading Commission (CFTC) has "withdrawn its appeal against the crypto prediction platform". Last year, the CFTC submitted a motion to try to prevent Kalshi from providing prediction markets related to the November election. Previously, a federal judge ruled that the CFTC "exceeded its authority" in attempting to stop Kalshi from allowing users to trade contracts. CFTC Commissioner Summer K. Mersinger also stated in February: "Election contracts will continue to exist." Kalshi stated: "Election markets will continue to exist."
▌Democratic Senator Proposes Banning Presidential Investment or Support of Crypto Assets
After suddenly withdrawing support for the Senate's first stablecoin regulatory bill, Senate Democrats announced on Tuesday that they will introduce a new bill prohibiting federal officials and their families from issuing digital assets, directly targeting the stablecoins and meme coins currently held by Trump and his family.
The bill's proposer, Oregon Democratic Senator Jeff Merkley, stated, "Currently, anyone seeking to establish a relationship with the president can personally profit the president by purchasing cryptocurrencies he owns or controls, which is an extremely corrupt act that threatens our national security and erodes public trust in government. We must immediately end this corruption."
▌New Hampshire Allows Bitcoin Holdings Up to 5% of State's Total Funds
The New Hampshire governor signed HB 302, which adopted the Satoshi Action Strategic Bitcoin Reserve (SBR) model. HB 302 contents:
- Allows state treasury to purchase Bitcoin and top digital assets - authorized to reserve up to $50 billion in Bitcoin (full stop-loss only);
- Holdings capped at 5% of state's total funds - ensuring Bitcoin supplements the state's broader investments;
- Enforces US regulatory custody - assets must be held by state-controlled multisig or through US exchange-traded products to maximize safety and transparency;
- Effective 60 days after enactment - providing a clear framework for reserves and stacking.
Blockchain Applications
▌ZKsync Achieves Full EVM Equivalence, Developers Can Seamlessly Deploy Ethereum Contracts
According to ZKsync's official announcement, ZKsync has now achieved full EVM equivalence, allowing developers to directly deploy EVM bytecode generated by Solidity compilation on the ZKsync chain without using specialized tools like zkSolc or Foundry ZKsync. This feature was introduced through Protocol Version 27 and formally approved by governance proposal ZIP-9.
EVM bytecode will be executed through an EVM interpreter on EraVM, enabling seamless compatibility with mainstream Ethereum development tools like Foundry, Hardhat, and Remix. However, due to differences in operating modes, the mechanism still has limitations such as different gas calculation methods, lack of support for some EVM instructions (like CALLCODE, SELFDESTRUCT), and higher execution fees compared to native EraVM contracts. ZKsync recommends that performance-sensitive projects still prioritize native EraVM development. This upgrade will gradually expand to other ZK chains in the Elastic Network.
▌Adidas Launches Xociety Game NFT Blind Box on Sui Chain
Adidas has created NFT skins for the upcoming third-person crypto shooting RPG game Xociety, supported by the Sui public chain. 2,600 Adidas mystery blind box NFTs can reveal in-game skins, including black hoodies, neon sportswear, and other Adidas-branded outfits. Each blind box contains clothing sets of different rarities, categorized into Uncommon, Rare, Epic, and First tiers, to be minted on Tradeport at 9 AM Eastern Time on May 16.
Cryptocurrency
▌Bitwise Submits Spot NEAR ETF Listing Application to US SEC
Digital asset management company Bitwise has submitted a listing application for a spot NEAR ETF to the US Securities and Exchange Commission, adding another alternative coin to the ongoing race for regulatory approval.
Bitwise's registration statement on May 6 shows that the ETF will track the price movement of NEAR tokens through traditional brokers and deduct fees. Bitwise has designated Coinbase Custody as the custodian for the Bitwise NEAR ETF. The management fees, stock ticker, and listing exchange for the Bitwise NEAR ETF are yet to be determined.
▌Doodles Announces DOOD Will Launch on Solana with Airdrop Plan
According to Doodles' official announcement, the project's native token DOOD will soon launch on Solana and conduct an airdrop for eligible users. Existing Doodles NFT holders can register for airdrop shares on the website; "New Blood" community members will automatically receive airdrops at TGE without registration. A community eligibility check tool for the Solana ecosystem is coming soon, with details available on the official website's FAQ page.
▌WLFI Listed on Snapshot Proposal, Plans to Airdrop USD1 Stablecoin to WLFI Holders
According to World Liberty Financial's official announcement, they have listed a Snapshot proposal to test on-chain airdrop functionality by distributing a small amount of USD1 stablecoin to all eligible $WLFI holders, to verify the actual operation of the airdrop system and reward early supporters. The airdrop will be funded by WLFI and executed on the Ethereum mainnet, with specific distribution amounts and eligibility criteria to be announced later. Voting is currently open and will end on May 14, with the voting page showing 100% support.
▌Antalpha Applies to List on Nasdaq Global Market
Antalpha announced that its roadshow for the initial public offering of 3,850,000 ordinary shares has begun, with an expected issue price between $11 and $13 per share. Antalpha plans to grant underwriters a 30-day option to purchase up to an additional 577,500 ordinary shares to address potential over-allotment. The related F-1 registration statement has been submitted to the US Securities and Exchange Commission but has not yet become effective. Securities cannot be sold, and no purchase offers can be accepted before the registration statement becomes effective.
As the main lending partner of Bitmain, Antalpha provides Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows clients to initiate and manage their digital asset loans and monitor collateral positions in near real-time.
▌Michael Saylor: Bitcoin Industry Size Will Reach $200 Trillion
According to Bitcoin Magazine, Michael Saylor stated that the Bitcoin industry size will reach $200 trillion.
▌Bitcoin Payment App Strike Enters Crypto Lending Business
Jack Mallers, founder of the Bitcoin Lightning payment app Strike, announced the launch of a new crypto lending program for personal and business accounts. Mallers stated on X: "You shouldn't sell the best-performing asset in human history to get cash. Now you don't have to do that." Strike Lending will initially launch in some regions of the United States, with plans to expand to international markets in the future. The company said: "These Bitcoin-backed loans will not be reported to credit agencies and will not affect credit scores." Loan amounts range from $75,000 to $2 million, with an annual interest rate of at least 12%.
Important Economic Developments
▌Spot Gold Returns to $3,400 Mark, Narrowing Decline to 0.9%
Spot gold has returned to the $3,400 mark, rebounding over $20 from daily lows, narrowing its decline to 0.9%.
▌Huang Renxun Says China's AI Market Could Reach $50 Billion in Coming Years, Missing Out Would Be Huge Loss
NVIDIA (NVDA.O) CEO Huang Renxun said on May 6th that China's artificial intelligence market could reach about $50 billion in the next two to three years, and missing out would be a "huge loss". Being able to sell products in China would bring revenue and taxes, and "create a large number of jobs in the United States".
▌California Governor Explains Lawsuit Against US Government: Most Harmed by Tariff Policies
California Governor Newsom announced last month a lawsuit against the Trump administration over tariff issues. On the 5th, Newsom further explained in an interview with a Canadian TV network why he is suing the Trump administration. Newsom said that as the strongest economic state in the US, California has been most harmed by tariff policies. Newsom stated that California is the largest state, with a population equal to the total of 21 other states. California is the world's fourth-largest economy and the largest manufacturing and agricultural state in the US. 40% of all imported goods enter through California's ports. According to data released yesterday (4th), cargo volume has already decreased by 35%. Additionally, tourist numbers have been declining for two consecutive months.
Jinse Encyclopedia
▌What is Artificial General Intelligence
Unlike Narrow Artificial Intelligence (ANI) (using AI to solve a single problem), Artificial General Intelligence (AGI) refers to AI that can understand, learn, and apply knowledge in a way that is difficult to distinguish from human cognition. AGI is still in the theoretical stage, but the prospect of AI completely replacing human input and judgment naturally attracts widespread attention, with researchers, technology experts, and scholars working to turn the concept of AGI into reality.
Disclaimer: Jinse Finance, as a blockchain information platform, provides article content for informational reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to improve risk awareness.
