PA Daily | U.S. Vice President Vance will attend the Bitcoin 2025 Summit and deliver a speech; Resolv opens Airdrop sign up, deadline is May 17.

Today’s news highlights:

1. U.S. Vice President JD Vance will attend the Bitcoin 2025 Summit and deliver a speech.

2. Coinbase launches 24/7 Bitcoin and Ethereum futures trading services.

3. BlackRock met with the U.S. SEC’s crypto working group to discuss the staking and options for crypto ETFs.

4.Resolv: The registration for the RESOLV token genesis event is now live, and the deadline is May 17.

5.Binance Alpha adds Doodles (DOOD)

6. Lido announces the upcoming launch of dual governance to reduce governance risks.

7. Telegram launches a gift market based on the TON blockchain NFT

8. Trader James Wynn has accumulated a profit of 46.5 million USD since March 13.

Regulation/Macro

The Brazil B3 Stock Exchange will launch Ethereum and Solana futures on June 16.

According to Bitcoin.com, the Brazilian stock exchange B3 has announced that it will launch Ethereum and Solana futures contracts on June 16, further expanding its cryptocurrency financial product line. This product has been approved by the Brazilian Securities and Exchange Commission (CVM) and aims to help institutional investors avoid asset custody challenges and participate in the cryptocurrency market more conveniently. Unlike existing Bitcoin futures, the ETH and SOL contracts will be priced in USD, with each contract corresponding to 0.25 ETH and 5 SOL respectively. At the same time, B3 announced a reduction in the face value of Bitcoin futures contracts from 0.1 BTC to 0.01 BTC to enhance liquidity and investor participation. The exchange has been preparing these products since February of this year, originally planning to launch them by the end of the year.

Zimbabwe launches blockchain-based carbon credit trading registration system

According to Bloomberg, the Zimbabwean government has officially launched a blockchain-based carbon credit registry system aimed at enhancing transaction transparency and rebuilding investor confidence. The country’s Environment Minister, Evelyn Ndlovu, stated at the launch ceremony in Harare that the system was developed by Dubai’s A6 Labs and allows for the full traceability of carbon credit issuance, trading, and cancellation, ensuring that data is immutable. Previously, the country faced operational disruptions for international developers, including the Kariba Redd+ project, due to the sudden cancellation of multiple carbon credit projects and the imposition of a 50% revenue confiscation in 2023.

Zimbabwe synchronized the establishment of the Carbon Market Management Authority (ZCMA) last week to oversee project approvals. According to statistics from California data company RippleNami in 2023, the country’s carbon credit output accounts for 12.5% of the total in Africa, ranking third on the continent. Washington Zhakata, the Executive Secretary of the Ministry of Environment, emphasized that developers must submit compliance applications through the zicma.org.zw platform in order to conduct business. Currently, African countries such as Kenya and Zambia are also strengthening regulation in this field.

Coinbase has launched 24/7 Bitcoin and Ethereum futures trading services.

According to the official blog, the cryptocurrency exchange Coinbase has announced that it is the first compliant platform to receive CFTC approval to offer 24/7 Bitcoin and Ethereum futures trading, which officially launched on May 9. This innovation breaks the traditional trading hour restrictions of the derivatives market, allowing investors to trade contracts at any time (including weekends). The announcement revealed that perpetual contract products are also in preparation, which will provide regulated perpetual contract services for U.S. retail investors for the first time.

The service is supported by clearing from Nodal Clear, liquidity is ensured by market makers such as Virtu Financial, and distribution is done through brokerage channels like ABN AMRO and Wedbush Securities. Coinbase Financial Markets CEO Andy Sears stated that this transformation allows investors to manage risk at any time through the Coinbase Advanced platform.

U.S. senators urge the Treasury and Justice Departments to investigate the relationship between Binance and Trump.

According to Bloomberg, a group of Democratic senators in the United States (including Maryland Senator Chris Van Hollen and Massachusetts Senator Elizabeth Warren) sent a joint letter to the Treasury Secretary and the Attorney General, requesting an investigation into the relationship between Binance and the Trump family’s digital asset projects. The letter pointed out that the Abu Dhabi investment firm MXG completed a $2 billion investment in Binance through a USD1 stablecoin controlled by the Trump family in March of this year, raising concerns about compliance risks. In 2023, Binance pleaded guilty to violating anti-money laundering regulations, and its former CEO, Zhao Changpeng, has served four months in prison.

On May 9, Senate Democrats just postponed the passage of the “Preventing Current Officials from Profiting from Crypto Projects” clause of the Stablecoin Act. The joint letter requests that the Treasury and Justice Departments submit explanations on three aspects by May 21: the progress of Binance’s compliance with the plea agreement, the timeline for exiting the U.S. market, and whether there have been discussions about a pardon for Zhao Changpeng. According to The Wall Street Journal, representatives of the Trump family had previously discussed investing in Binance.US (which Zhao Changpeng has since denied). The letter stated: “The idea that this administration might allow Binance to continue operating and expanding in the U.S. is deeply concerning, especially considering the company’s repeated disregard for federal laws and regulations designed to protect Americans.”

BlackRock meets with the U.S. SEC cryptocurrency working group to discuss staking and options for cryptocurrency ETFs.

Representatives from BlackRock met with members of the U.S. SEC’s crypto working group to discuss methods for addressing regulatory issues related to crypto assets, focusing on the staking and options issues of cryptocurrency exchange-traded funds. According to the documents, the meeting discussed “considerations for promoting ETPs with staking functions,” and the parameters for determining crypto ETF options positions and exercise limits, including liquidity thresholds. Additionally, BlackRock discussed the specific criteria for approving crypto ETFs.

U.S. Vice President JD Vance will attend the Bitcoin 2025 Summit and give a speech.

According to Decrypt, U.S. Vice President JD Vance will give a speech later this month at the Bitcoin 2025 conference in Las Vegas. Last July, President Trump spoke at the Bitcoin 2024 conference held in Nashville, Tennessee, and subsequently won and returned to the White House in November.

Mining company TeraWulf reported a net loss of $61.4 million in the first quarter, with cost of revenue accounting for 71.4% of income.

Bitcoin mining company TeraWulf announced its Q1 2025 financial report, showing a net loss of $61.4 million, significantly higher than the $9.6 million loss in the same period last year. The company’s revenue fell to $34.4 million year-on-year, while the cost of revenue rose to $24.5 million, accounting for 71.4%, more than doubling from 34% in the same period last year. TeraWulf attributed the decline in revenue to the Bitcoin halving and rising network difficulty; additionally, severe weather in New York state also affected its mining operations.

The fourth largest city in Brazil, Belo Horizonte, has voted to pass a Bitcoin-related bill.

Legislators in Belo Horizonte, Brazil’s fourth-largest city, have passed a groundbreaking bill to establish the city as an innovation hub for cryptocurrency and Bitcoin companies. The bill provides incentives for businesses that accept Bitcoin payments and promises to highlight them in city advertising campaigns. In addition, the bill promotes educational activities to help citizens adapt to this digital transformation. The bill passed with 20 votes in favor, 8 against, and 6 abstentions. The bill will now be submitted to the mayor’s office for final approval.

The high-level economic and trade talks between China and the United States have begun in Geneva, Switzerland.

According to a report by Xinhua quoted by Jin Shi, high-level economic and trade talks between China and the United States began on the morning of the 10th local time in Geneva, Switzerland. He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with the U.S. counterpart, Treasury Secretary Janet Yellen, on that day.

opinion

Federal Reserve’s Baer: Tariffs raise inflation and slow the economy, the Federal Reserve may fall into a dilemma.

According to Jinshi News, Federal Reserve’s Barr stated that Trump’s trade policy could raise inflation, lower economic growth, and increase unemployment later this year, which could present policymakers with a tricky decision about which issue to address. Barr said, “The scale and scope of recent tariff increases are unprecedented, and we do not know their final form; it is still too early to say how they will affect the economy.” However, he noted that the risks are evident. “In my view, higher tariffs could lead to disruptions in global supply chains and put persistent upward pressure on inflation,” he stated. He also pointed out that businesses need time to adjust their distribution networks. Some suppliers, especially small businesses, may not be able to adapt quickly enough, which could lead to closures and exacerbate supply chain disruptions. Barr said, “I am equally concerned that as the economy slows, tariffs will lead to higher unemployment rates.” “Therefore, if we see rising inflation and unemployment at the same time, the Federal Reserve may find itself in a bind.”

DWF Labs Partner: Currently buying a large amount of various altcoins, considering establishing a strategic reserve.

Andrei Grachev, a partner at DWF Labs, posted on platform X that they have just transferred some tokens to DWF Labs’ public wallet. DWF Labs is currently purchasing a large number of various altcoins and will send them to the wallet one by one. Grachev added, “Maybe we will establish our own strategic reserve. It’s under consideration…”

Solana Co-founder: Solana v2.2 computational capacity increased by 20%

Solana co-founder Toly stated on the X platform that the computing power in Solana v2.2 has increased by 20%, which is equivalent to adding the capacity of 5 Ethereum Pectra upgrades to the network.

Coinbase CEO: Considered adopting Michael Saylor’s Bitcoin buying strategy but abandoned it due to high risks.

Coinbase previously considered adopting the Bitcoin purchase strategy promoted by Michael Saylor, but deemed the plan too risky. Coinbase CEO Brian Armstrong stated in a video speech on the X social network: “Over the past 12 years, we have indeed had moments where we questioned whether we should allocate 80% of our assets to cryptocurrency—specifically Bitcoin.” Ultimately, Coinbase decided to abandon this strategy, as it could jeopardize the cash position of the company as a startup and could even “kill” the San Francisco-based company. Nevertheless, according to the company’s latest shareholder letter, Coinbase purchased $153 million worth of cryptocurrency (mainly Bitcoin) in the first quarter. According to the letter, the company holds $1.3 billion worth of cryptocurrency (mainly Bitcoin) as investments. Coinbase CFO Alesia Haas stated that the company does not wish to be seen as competing with its customers who invest in cryptocurrency.

Mixed martial artist Conor McGregor advocates for Ireland to adopt a Bitcoin reserve strategy.

Professional mixed martial artist Conor McGregor advocated for Ireland to adopt a Bitcoin reserve strategy via Twitter, stating: “The original intention of cryptocurrency is to return power to the people. Ireland’s Bitcoin strategic reserve will empower the currency of the people.”

Project Updates

Lido announces the upcoming launch of dual governance to reduce governance risks.

The liquidity staking protocol Lido announced on platform X that dual governance will be launched soon, showcasing an overview of the dual governance framework, which includes aspects such as design, code selection, parameters, deployment, and launch. Dual governance is a dynamic time-locking mechanism that allows stETH holders to exit Lido on Ethereum when faced with contentious Lido DAO governance proposals. By providing stETH holders with an exit path that is unaffected by governance, dual governance represents an important step for Lido in reducing governance risk on the Ethereum protocol.

Resolv: The registration for the RESOLV token genesis event is now live, and the deadline is May 17.

The Resolv Foundation announced on platform X that the registration for the RESOLV token genesis event is now live, which is a necessary step to participate in the airdrop. The deadline is May 17th at 7:59 AM Beijing time. The snapshot for Q1 was taken on May 9th at 7:59 AM Beijing time. Unregistered users will not be able to participate in the subsequent claiming process. After registration ends, a Sybil check will be conducted to verify eligibility. Once the check is completed, the claiming page will be immediately opened and will be valid for 30 days.

According to previous news, Resolv announced the RESOLV tokenomics: 10% of the airdrop will be allocated in the first quarter, and TGE registration will open this month.

Binance Alpha adds Doodles (DOOD)

According to official page information, Binance Alpha has added Doodles (DOOD).

Doodles announced the contract address for the DOOD token.

According to official news, Doodles announced the DOOD token contract address: DvjbEsdca43oQcw2h3HW1CT7N3x5vRcr3QrvTUHnXvgV.

Doodles has launched the AI decentralized narrative protocol DreamNet, allowing users to earn DOOD rewards.

The NFT project Doodles has officially launched its native token DOOD on the Solana blockchain, and the airdrop claiming is now open. Exchanges such as Bybit, Binance Alpha, and Gate have confirmed the listing of this token. The project also launches the decentralized AI narrative protocol DreamNet, where users can earn DOOD rewards by creating characters and story worlds. The first office survival game, “Lord of the Files,” is now live, with a prize pool of 500,000 DOOD.

The total supply of DOOD is 10 billion coins, with 30% allocated to the community, 25% to the ecological fund, 17% to the team, and 13% for the new member program, while the remaining is used for liquidity and company operations. Doodles CEO Scott Martin stated that there are plans to expand the token to the Base chain in the future.

Moonshot announces the launch of Doodles ($DOOD)

Moonshot announced the launch of Doodles ($DOOD). This token operates on the Solana chain, currently with a market capitalization of $77.2 million and a 24-hour trading volume of $33.2 million.

Telegram launches a gift marketplace based on the TON blockchain NFTs.

Telegram founder Du Rove announced on his personal channel that the Telegram Gift Marketplace has been launched, allowing users to instantly purchase gifts from other users or sell their own gifts. Telegram gifts are unique collectibles based on the TON blockchain, initially sold for just a few dollars, but some gifts have now skyrocketed in value to tens of thousands of dollars.

EigenLayer will launch the “Seized Funds Redistribution” upgrade on the mainnet in June.

According to the official announcement, the Ethereum restaking protocol EigenLayer will launch the “Slashed Funds Redistribution” upgrade on the mainnet in June, which is an advanced feature of its Slashing mechanism. This feature allows Active Verification Services (AVS) to direct slashed funds to designated recipients instead of directly destroying them. The first batch will support LST, EIGEN, USDC, and AVS tokens (excluding ETH for now). The testnet is planned to be deployed on networks like Holesky in May.

This upgrade is optional, and AVS can design an incentive structure of “penalizing ineffective nodes - rewarding reliable nodes,” but it requires enhanced key management (to prevent attacks on the slasher module) and smart contract security (it is recommended to use a multi-signature architecture/possible veto mechanism for penalties). The protocol emphasizes that AVS needs to carefully design redistribution rules to avoid incentive distortion, for example, balancing risk and reward through fixed penalty conditions. The redistribution mechanism provides a new paradigm for scenarios requiring liquidity, such as lending and insurance, for instance, using penalty funds for user compensation or liquidation buffers.

The Indonesian government may request Worldcoin to delete 500,000 retinal data.

The Indonesian Ministry of Communications and Informatics (Komdigi) may delete 500,000 retinal data records collected by the World platform. This move stems from concerns over a potential data leak. Komdigi is investigating whether there are risks associated with storing retinal data. If evidence of such risks is found, this data may be permanently deleted.

World is a platform that provides authentication and has come under scrutiny for offering 800,000 Indonesian Rupiah (48.34 USD) to users who scan their retinas. After its operating license was revoked by Komdigi, the platform halted all scanning activities in Indonesia. World clarified that its cryptocurrency Worldcoin is not meant for compensation; these tokens are optional incentives.

The next phase of $TRUMP will be announced on the evening of May 22.

$TRUMP official tweet states that the next phase of $TRUMP will be announced on the evening of May 22nd during a dinner in Washington, D.C.

The official Cointelegraph X account is suspected of being hacked, having posted tweets about token contracts and sent scam links to platform authors.

The official Cointelegraph X account is suspected to have been hacked and sent a scam link to its platform author. Crypto KOL @thedefiedge posted that the official Cointelegraph X account sent him a private message asking him to review an article involving the author’s content. The author clicked the link from a privacy window and was then asked to log in with his X account, but the domain was “Cointetegraph,” not Cointelegraph, indicating a spelling error. Previously, market news stated that Cointelegraph’s official Twitter account published an on-chain token contract and closed comments; that tweet has now been deleted.

TRUMP Official: 3.5 million TRUMP deposited into CEX to enhance liquidity, all recently unlocked tokens have been locked.

In response to the previous TRUMP team-associated address depositing 3.5 million TRUMP into CEX, the TRUMP official stated that the transfer to CEX aims to enhance liquidity, helping to ensure that both parties in the transaction can obtain TRUMP, and this liquidity is provided by the liquidity wallet from the initial issuance. The TRUMP team emphasized that all recently unlocked TRUMP has been completely re-locked and will not be transferred within the next 90 days.

According to previous news, the $TRUMP team’s associated address transferred 3.5 million TRUMP to CEX in the past half hour.

Important data

Crypto KOL James Wynn currently has a floating profit of over $39 million on the HyperLiquid platform.

According to Onchain Lens monitoring, crypto KOL James Wynn (@JamesWynnReal) currently has over $39 million in floating profits on the HyperLiquid platform.

James holds multiple long positions:

• PEPE (10x leverage): $23.4 million.
• TRUMP (10x leverage): 5.7 million USD.
• BTC (40x leverage): 4.96 million USD.
• FARTCOIN (5x leverage): 4.45 million USD.

Ethereum skyrocketed 30% in a week, poised to achieve its best single-week performance in four years.

According to Jinshi Data, driven by easing global trade tensions and optimism about network upgrades, Ethereum has led the cryptocurrency surge this week, expected to achieve its largest increase since 2021. On Friday, the second-largest digital token soared by 14% to $2,490, with a weekly increase approaching 33%, marking the largest single-week gain since 2021, when excessive speculation and low interest rates fueled the cryptocurrency boom during the pandemic. The largest digital currency, Bitcoin, also rose by 1.7% to $104,336. BRN Chief Research Analyst Valentin Fournier stated, “The momentum is strong and may continue. New breakthroughs and policy support may attract new buyers.”

A certain whale has withdrawn 23.46 million USDC from Binance to Hyperliquid in the past 27 hours and shorted HYPE with 5x leverage.

According to on-chain analyst Yu Jin’s monitoring, whale 0x20b has withdrawn a total of 23.46 million USDC from Binance to Hyperliquid in the past 27 hours. Then, they opened a short position of 187.5 HYPE with a 5x leverage, with a position value of 45.77 million USD.

Opening position average price is $20.4, liquidation price is $30. Current loss has reached $7.43 million (-32%).

In the past 9 days, a certain giant whale that accumulated 20 trillion PEPE has started to take profits, with a floating profit of 7.66 million USD.

According to on-chain analyst Yu Jin’s monitoring, the whale 0x3c9 has accumulated 20 trillion PEPE over the past 9 days, and with this rebound, the floating profit has reached as high as 7.66 million dollars.

He started taking profits 20 minutes ago: transferred 50 billion PEPE(, approximately 6.34 million USD), to Binance.

He currently holds 15 trillion PEPE, worth 19.2 million dollars.

A certain Ethereum ICO whale has deposited the remaining 1900 ETH into Kraken.

According to Lookonchain monitoring, 3 hours ago, a giant whale (Ethereum ICO participant) that acquired 76,000 ETH (costing $23,560) from Genesis deposited the remaining 1,900 ETH (worth $4.44 million) into Kraken.

A week ago, a certain smart money that built a position in PEPE sold 1 trillion PEPE, making a profit of about 3.53 million dollars.

According to on-chain analyst @ai_9684xtpa, smart money that had already positioned itself a week ago by “buying low and selling high WBTC, profiting 14.26 million dollars,” has made an additional profit of 3.53 million dollars. This smart money is suspected to have sold 1 trillion PEPE (worth approximately 12.48 million dollars) in the past 14 hours, while the remaining 1 trillion PEPE is currently still in profit by 3.52 million dollars, with an average entry price of 0.00000895 dollars.

Trader James Wynn has accumulated a profit of 46.5 million dollars since March 13.

According to monitoring by Lookonchain, legendary trader James Wynn has been actively trading on Hyperliquid since March 13, and has accumulated a profit of 46.5 million dollars in less than two months. His current positions are:

• 40x Long BTC: Unrealized Profit of 5.4 Million USD
• 10x Long PEPE: Unrealized Profit of $23.8 Million
• 10x Long TRUMP: Unrealized Profit $5.57 million
• 5x Long FARTCOIN: Unrealized Profit 5.15 Million USD
• 5x Long HYPE: Unrealized Profit $31,400