PA Daily | US Vice President Vance will attend the Bitcoin 2025 Summit and deliver a speech; Resolv opens airdrop registration, the deadline is May 17

Today's news tips:

1. US 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 meets with the US SEC Crypto Working Group to discuss pledge and options on crypto ETFs

4.Resolv: Registration for the RESOLV token creation event is now live and the deadline is May 17th

5. New Doodles (DOOD) on Binance Alpha

6.Lido announced that it will launch dual governance to reduce governance risks

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

8. Trader James Wynn has made $46.5 million in profits since March 13

Regulatory/Macro

Brazil’s B3 Stock Exchange to Launch Ethereum and Solana Futures on June 16

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

Zimbabwe launches blockchain registry for carbon credit trading

According to Bloomberg, the Zimbabwean government has officially launched a carbon credit registration system based on blockchain technology, aiming to improve transaction transparency and rebuild investor confidence. Evelyn Ndlovu, the country's environment minister, said at the launch ceremony in Harare that the system was developed by Dubai's A6 Labs and can trace the entire process of carbon credit issuance, trading and cancellation to ensure that data cannot be tampered with. Previously, the country suddenly canceled several carbon credit projects in 2023 and imposed a mandatory levy of 50% of the proceeds, which hindered the operations of international developers including the Kariba Redd+ project.

Zimbabwe also established the Carbon Market Authority (ZCMA) last week to review and approve projects. According to California data company RippleNami's 2023 statistics, the country's carbon credit production accounted for 12.5% of Africa's total, ranking third on the continent. Washington Zhakata, permanent secretary of the Ministry of Environment, stressed that developers must submit compliance applications through the zicma.org.zw platform before they can conduct business. Currently, African countries such as Kenya and Zambia are also strengthening supervision in this area.

Coinbase Launches 24/7 Bitcoin and Ethereum Futures Trading Services

According to the official blog, the crypto exchange Coinbase announced that it has become the first compliant platform approved by the CFTC to provide 24/7 Bitcoin and Ethereum futures trading. The service was officially launched on May 9. This innovation breaks the trading hours limit of the traditional derivatives market, and investors can trade contracts at any time (including weekends). The announcement revealed that perpetual contract products are also being prepared, which will provide regulated perpetual contract services to US retail investors for the first time.

The service is supported by Nodal Clear, with market makers such as Virtu Financial guaranteeing liquidity, and distributed through broker channels such as ABN AMRO and Wedbush Securities. Coinbase Financial Markets CEO Andy Sears said that this change enables investors to manage risks at any time through the Coinbase Advanced platform.

US Senators urge Treasury and Justice Departments to investigate Binance's relationship with Trump

According to Bloomberg, a group of U.S. Democratic senators (including Maryland Senator Chris Van Hollen and Massachusetts Senator Elizabeth Warren) sent a joint letter to the Secretary of the Treasury and the Attorney General, requesting an investigation into Binance's connection with the Trump family's digital asset project. The letter pointed out that Abu Dhabi investment company MXG completed a $2 billion investment in Binance through the USD1 stablecoin controlled by the Trump family in March this year, which raised 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 Stablecoin Act on the grounds of "preventing current officials from profiting from crypto projects." The joint letter requires the Treasury Department and the Justice Department to submit three explanations by May 21: Binance's progress in fulfilling the plea agreement, the timetable for exiting the U.S. market, and whether a pardon for Changpeng Zhao has been discussed. According to the Wall Street Journal, representatives of the Trump family had negotiated an investment in Binance.US (previously denied by Changpeng Zhao). The letter reads: "The idea that this administration might allow Binance to continue to operate and expand in the United States is deeply disturbing, especially given that the company has repeatedly ignored federal laws and regulations that protect the safety of Americans."

BlackRock meets with US SEC crypto working group to discuss collateralization and options on crypto ETFs

Representatives of BlackRock met with members of the U.S. SEC Crypto Working Group on ways to address issues related to crypto asset regulation and discussed issues related to pledge and options on cryptocurrency exchange-traded funds. According to the document, the meeting discussed "considerations for promoting ETPs with pledge functions" and discussed parameters for determining crypto ETF option positions and exercise limits, including liquidity thresholds. In addition, BlackRock also discussed specific criteria for approving crypto ETFs.

US Vice President JD Vance will attend Bitcoin 2025 Summit and deliver a speech

According to Decrypt, US Vice President JD Vance will speak at the Bitcoin 2025 conference in Las Vegas later this month. Last July, President Trump spoke at the Bitcoin 2024 conference in Nashville, Tennessee, before winning and returning to the White House in November.

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

Bitcoin mining company TeraWulf announced its first quarter financial report for 2025, with a net loss of $61.4 million, far higher than the $9.6 million in the same period last year. The company's revenue fell year-on-year to $34.4 million, while the cost of revenue rose to $24.5 million, accounting for 71.4%, more than double the 34% in the same period last year. TeraWulf attributed the decline in revenue to the halving of Bitcoin and the increase in network difficulty; in addition, the severe weather in New York State also affected its mine operations.

Brazil’s Fourth Largest City Belo Horizonte Votes to Pass Bitcoin-Related Bill

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

China-US high-level economic and trade talks begin in Geneva, Switzerland

According to a report by Jinshi citing Xinhua News Agency, the high-level economic and trade talks between China and the United States began in Geneva, Switzerland on the morning of the 10th local time. He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, as the Chinese leader of the China-US economic and trade talks, held talks with the US leader, US Treasury Secretary Bensont, on the same day.

Viewpoint

Fed's Barr: Tariffs push up inflation and slow down the economy, the Fed may be in trouble

According to Jinshi, Federal Reserve Chairman Barr said that Trump's trade policy could push up inflation, reduce economic growth and push up unemployment later this year, which may leave policymakers with a difficult decision about which problem to address. "The scale and scope of the recent tariff increases are unprecedented, we don't know their final form, and it's too early to say how they will affect the economy," Barr said. But he said the risks are obvious. "In my opinion, higher tariffs could lead to disruptions in global supply chains and put continued upward pressure on inflation," he said. He also noted that it takes time for companies to adjust their distribution networks. Some suppliers, especially small businesses, may not be able to adapt quickly enough and may go out of business, which exacerbates supply chain chaos. "I am equally concerned that tariffs will lead to higher unemployment as the economy slows," Barr said. "So if we see both rising inflation and rising unemployment at the same time, the Fed may be in trouble."

DWF Labs partner: We are buying a large number of different altcoins and considering establishing a strategic reserve

DWF Labs partner Andrei Grachev posted on the X platform that some tokens have just been withdrawn to the DWF Labs public wallet. DWF Labs is currently buying a large number of different altcoins and will send them to the wallet one by one. Grachev added: "Perhaps, we will build our own strategic reserves. We are thinking about it..."

Solana Co-creation: Solana v2.2 computing power increased by 20%

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

Coinbase CEO: I considered adopting Michael Saylor’s Bitcoin buying strategy, but the risk was too great so I gave up

Coinbase had considered adopting the Bitcoin buying strategy popularized by Michael Saylor in the past, but decided the plan was too risky. "We did have moments over the last 12 years where we wondered if we should put 80% of our assets in cryptocurrencies - specifically, Bitcoin," Coinbase CEO Brian Armstrong said in a video address on the X social network. Coinbase ultimately decided against the strategy because it could have hurt the company's cash position as a startup and could have even "killed" the San Francisco-based company. Nonetheless, according to the company's latest shareholder letter, Coinbase purchased $153 million worth of cryptocurrencies (mostly Bitcoin) in the first quarter. According to the letter, the company holds $1.3 billion worth of cryptocurrencies (mostly Bitcoin) as investments. Coinbase CFO Alesia Haas said the company does not want to be seen as competing with customers who invest in cryptocurrencies.

Professional MMA Athlete Conor McGregor Advocates for Bitcoin Reserve Strategy in Ireland

Professional mixed martial arts athlete Conor McGregor tweeted his advocacy for Ireland to adopt a Bitcoin reserve strategy, saying: “The original intention of cryptocurrency is to return power to the people. Ireland’s Bitcoin strategic reserve will give the people monetary power.”

Project News

Lido announces upcoming dual governance to reduce governance risks

Liquid staking protocol Lido announced on X Platform that dual governance is coming soon, and has presented an overview of the dual governance framework, including design, code selection, parameters, deployment and launch. Dual governance is a dynamic time-limited lock mechanism that allows stETH holders to exit Lido on Ethereum in the face of controversial Lido DAO governance proposals. By providing stETH holders with an exit path that is not affected by governance, dual governance represents an important step for Lido to reduce governance risk on the Ethereum protocol.

Resolv: Registration for the RESOLV Token Genesis Event is now live and ends on May 17th

The Resolv Foundation announced on X Platform that the RESOLV Token Genesis Event registration is now live, which is a necessary step to participate in the airdrop. The deadline is 7:59 on May 17th, Beijing time. The snapshot of Season 1 was taken at 7:59 on May 9th, Beijing time. Unregistered users will not be able to participate in the subsequent claiming process. After the registration is completed, a Sybil check will be conducted to verify eligibility. After the check is completed, the claiming page will be immediately open and valid for 30 days.

Earlier news, Resolv announced the RESOLV token economics: the airdrop will account for 10% in the first quarter, and TGE registration will be opened this month.

Binance Alpha adds new Doodles (DOOD)

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

Doodles announces DOOD token contract address

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

Doodles launches AI decentralized narrative protocol DreamNet, where users can earn DOOD rewards

The NFT project Doodles officially launched the native token DOOD on the Solana blockchain, and airdrops are now open for claiming. Bybit, Binance Alpha, Gate and other exchanges have confirmed the listing of the token. The project also simultaneously launched 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" has been launched, with a prize pool of 500,000 DOOD.

The total supply of DOOD is 10 billion, of which 30% is allocated to the community, 25% to the ecological fund, 17% to the team, 13% to the new member program, and the rest is used for liquidity and company operations. Doodles CEO Scott Martin said that he plans to expand the token to the Base chain in the future.

Moonshot announces Doodles ($DOOD)

Moonshot announced the launch of Doodles ($DOOD). The token runs on the Solana chain and currently has a market cap of $77.2 million and a 24-hour trading volume of $33.2 million.

Telegram launches NFT gift marketplace based on TON blockchain

Telegram founder Du Rove announced on his personal channel that he has launched the Telegram Gift Market, where users can instantly buy gifts from other users or sell their own gifts. Telegram gifts are unique NFT collections based on the TON blockchain. They were initially sold for only a few dollars, but now the value of some gifts has soared to tens of thousands of dollars.

EigenLayer will launch the "forfeited funds redistribution" upgrade on the mainnet in June

According to the official announcement, Ethereum re-staking protocol EigenLayer announced that it will launch the "redistribution of confiscated funds" upgrade on the main network in June, which is an advanced function of its Slashing mechanism. This function allows the Active Verification Service (AVS) to allocate confiscated funds to designated recipients instead of directly destroying them. The first batch supports LST, EIGEN, USDC and AVS tokens (excluding ETH for the time being). The test network is planned to be deployed on networks such as Holesky in May.

This upgrade is an optional feature. AVS can design an incentive structure of "punishing invalid nodes-rewarding reliable nodes", but it needs to be equipped with enhanced key management (to prevent slasher modules from being attacked) and smart contract security (multi-signature architecture/vetoable slashing mechanism is recommended). The agreement emphasizes that AVS needs to carefully design redistribution rules to avoid incentive distortions, such as balancing risk and return through fixed slashing conditions. The redistribution mechanism provides a new paradigm for scenarios that require liquidity, such as lending and insurance, such as using slashing funds for user compensation or liquidation buffers.

Indonesian government may ask Worldcoin to delete 500,000 retinal data

Indonesia's Ministry of Communications and Digital (Komdigi) may delete 500,000 retinal data records collected by the World platform. The move stems from concerns about potential data leaks. Komdigi is investigating whether there are risks in storing retinal data. If evidence of such risks is found, the data may be permanently deleted.

World, a platform that provides identity verification, has come under scrutiny for offering 800,000 rupiah ($48.34) to users who undergo retinal scans. The platform stopped all scanning activities in Indonesia after Komdigi revoked its operating license. World clarified that its cryptocurrency, Worldcoin, is not used for compensation; the tokens are optional incentives.

The next phase of $TRUMP will be announced on May 22nd dinner

$TRUMP officially tweeted that the next phase of $TRUMP will be announced on May 22nd, the day of the dinner, in Washington, DC.

Cointelegraph's official X account was suspected to be stolen, and it had posted token contract tweets and sent fraudulent links to platform authors

The official X account of Cointelegraph is suspected to have been stolen and sent a fraudulent link to the authors on its platform. Crypto KOL @thedefiedge posted that the official X account of Cointelegraph sent him a private message, asking him to review an article involving the author's content. The author clicked the link from the privacy window and was then asked to log in using the X account, but the domain name was "Cointetegraph" instead of Cointelegraph, and the domain name was misspelled. Earlier market news said that the official tweet of Cointelegraph released the on-chain token contract and closed comments. The tweet has now been deleted.

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

In response to the previous deposit of 3.5 million TRUMPs into CEX by the TRUMP team-related address, TRUMP officials responded that the transfer to CEX is intended to enhance liquidity and help ensure that both parties to the transaction can obtain TRUMP, and that the liquidity is provided by the liquidity wallet at the time of initial issuance. The TRUMP team emphasized that all recently unlocked TRUMPs have been re-locked and will not be transferred within the next 90 days.

According to previous news , the $TRUMP team-associated address transferred 3.5 million TRUMPs into 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, crypto KOL James Wynn (@JamesWynnReal) currently has more than $39 million in floating profits on the HyperLiquid platform.

James holds multiple long positions:

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

Ethereum surged 30% in a week, and is expected to achieve its best single-week performance in 4 years

According to Jinshi Data, Ethereum led the cryptocurrency rally this week, on track for its biggest gain since 2021, driven by easing global trade tensions and optimism about network upgrades. On Friday, the second-largest digital token by market value surged 14% to $2,490, and gained nearly 33% this week, the biggest weekly gain since 2021, when excessive speculation and low interest rates fueled the pandemic-era cryptocurrency boom. Bitcoin, the largest digital currency, also rose 1.7% to $104,336. "The momentum is strong and is likely to continue," said Valentin Fournier, chief research analyst at BRN. "New breakthroughs and policy support could attract new buyers."

A whale withdrew 23.46 million USDC from Binance in the past 27 hours and transferred it to Hyperliquid, shorting HYPE with 5x leverage

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

The average opening price was $20.4, and the liquidation price was $30. The current loss has reached $7.43 million (-32%).

A whale that has hoarded 2 trillion PEPE coins in the past 9 days has begun to take profits, with a floating profit of US$7.66 million

According to on-chain analyst Ember's monitoring, the giant whale 0x3c9 has hoarded 2 trillion PEPE in the past 9 days. With this rebound, the floating profit has now reached 7.66 million US dollars.

He started to take profits 20 minutes ago: he transferred 500 billion PEPE (about 6.34 million US dollars) to Binance.

He currently holds 1.5 trillion PEPE, worth $19.2 million.

An Ethereum IC0 whale deposited the remaining 1,900 ETH into Kraken

According to Lookonchain monitoring, 3 hours ago, the whale (Ethereum IC0 participant) who obtained 76,000 ETH (cost 23,560 US dollars) in Genesis deposited the remaining 1,900 ETH (worth 4.44 million US dollars) into Kraken.

A smart money that built a position in PEPE a week ago sold 1 trillion PEPE and made a profit of about $3.53 million

According to the monitoring of on-chain analyst @ai_9684xtpa, the "smart money that bought low and sold high WBTC to make a profit of $14.26 million" that ambushed PEPE a week ago made another profit of $3.53 million. The smart money is suspected to have sold 1 trillion PEPE (worth about $12.48 million) in the past 14 hours, and the remaining 1 trillion PEPE still has a floating profit of $3.52 million, with an average opening price of $0.00000895.

Trader James Wynn has made $46.5 million in profits since March 13

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

• 40x long BTC: Unrealized profit of $5.4 million
• 10x long PEPE: Unrealized profit of $23.8 million
• 10x long TRUMP: Unrealized profit of $5.57 million
• 5x long FARTCOIN: Unrealized profit of $5.15 million
• 5x long HYPE: Unrealized profit of $31,400