3422 dormant 12 years of BTC transfer Korean Democrats promise to approve crypto ETF

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering weekly key news, mining information, project trends, technological progress and other industry trends. This article is one of the news weekly news magazines, which will take you to take a look at the major events in the blockchain industry this week.

Headlines

▌3422 BTCs that have been dormant for 12 years have been transferred, increasing by 7018 times compared with 2012

According to EmberCN monitoring, 3,422 BTCs that had been dormant for 12 years have been transferred to a new address in the past three hours, worth $324 million. Tracing upward, these BTCs were proposed from the BTC-e trading platform (one of the ancient trading platforms, closed) in 2012. At that time, the price of BTC was only US$13.5. These 3,422 Bitcoins were originally worth US$46,000 and are currently worth US$324 million, an increase of 7,018 times.

▌South Korea 's presidential campaign leader promises to approve Bitcoin ETF

South Korea's Democratic Party leader Lee Jae-ming has reportedly become the latest presidential candidate to promise to approve spot cryptocurrency exchange-traded funds (ETFs) and other crypto-friendly measures if elected. Lee Jae-ming announced his cryptocurrency commitment on May 6 as part of a broader initiative to provide more investment opportunities for South Korean young people, one of the main target groups for the upcoming June 3 election. The Korea Economic Daily (KED) quoted Lee Jae-ming as saying in Korean: "I will create a safe investment environment where young people can [accumulate] assets and plan for the future." He also promised to legalize spot cryptocurrency ETFs, reduce transaction fees, and take more consumer protection measures.

▌US Treasury Secretary: Disapprove of the Fed 's issuance of digital currency

US Treasury Secretary Bescent said he did not agree with the Fed issuing digital currencies. "It's hard to know when the market will oppose our debt. We are working to control the absolute level of debt and drive GDP growth, agreeing with Yellen that the debt-to-GDP ratio is the key."

▌Visa strategically invests in blockchain payment company BVNK

The venture capital arm of global payment service provider Visa (V), a venture capital arm of global payment services, has made strategic investments in BVNK, a startup that builds stablecoin-based payment infrastructure, a move reflects the trend of traditional financial companies entering blockchain- driven currency flows. A BVNK spokesperson confirmed in an email that the deal was completed but declined to disclose the size of the investment. BVNK develops software that allows businesses to send and receive stablecoins in global markets. The London-based company said it has reached $12 billion in annualized stablecoin transactions and has recently entered the U.S. market with offices in New York and San Francisco. The company has applied for a license in all U.S. states and has been approved in multiple states.

▌CZ: The option to buy Bitcoin before the government is disappearing

Binance founder CZ quoted Arizona’s official legislative news on X platform, saying: Investors can make purchases when the government starts buying or after the government purchases, and the option “before the government purchase” is gradually disappearing.

policy

▌Draft discussion on the US Digital Asset Regulation Framework Act is released

According to official information, French Hill, chairman of the U.S. House Financial Services Committee (Arkansas II), GT Thompson, chairman of the House Agricultural Committee (Panel 15), Bryan Steil, chairman of the Digital Assets, FinTech and Artificial Intelligence Subcommittee under the House Financial Services Committee, and Dusty Johnson, chairman of the Commodity Markets, Digital Assets and Rural Development Subcommittee under the House Agricultural Committee, released a draft discussion bill today aimed at establishing a regulatory framework for digital assets in the United States.

▌New Hampshire Governor Signs Law to Allow the State to Investment in Bitcoin and Cryptocurrencies

The governor of New Hampshire signed a law that allows the state to invest in bitcoin and cryptocurrencies.

▌Democratic senator proposes banning the president from investing or supporting crypto assets

After abruptly withdrawing support for the Senate’s first stablecoin regulation bill, Senate Democrats announced Tuesday that it would introduce a new bill that prohibits federal officials and their families from issuing digital assets, a bill that directly points to the stablecoins and meme coins currently held by Trump and his family. "At present, anyone who wants to establish a relationship with the president can make the president personally profit by purchasing the cryptocurrency they own or control, which is an extremely corrupt act that threatens our national security and erodes the public's trust in the government. We must end this corruption immediately."

▌U.S. Senators propose MEME bill, intending to prohibit the president and members of Congress from issuing Meme coins

U.S. Senator Chris Murphy posted a statement saying that he would introduce the MEME Act, prohibiting the president or members of Congress from issuing Meme coins. Murphy said "Trump currency is the biggest corruption scandal in White House history" and said he would work with Rep. Sam Liccardo to push legislation to curb such behavior.

▌US SEC is considering allowing companies to issue, trade and settle securities using distributed ledger technology

The SEC is considering a potential exemption directive that will allow businesses to issue, trade and settle securities using distributed ledger technology (DLT) and allow companies to trade eligible tokenized securities using innovative trading systems.

Blockchain application

▌Acting Chairman of the US CFTC: CFTC plans to participate in tokenization pilot projects in some industries as an observer

According to Forbes reporter Eleanor Terrett, acting chairman of the Commodity Futures Trading Commission (CFTC), Caroline Pham, told me at the Medici online conference that the CFTC plans to participate in tokenization pilot projects in some industries as observers so that the institution can personally experience the operation of tokenized assets in the real world and accumulate experience in related technologies.

▌Aave Community Deploys AaveV3 Proposal on the Aptos Main Network

The Aave community has deployed ARFC proposals for Aave V3 on the Aptos mainnet. The proposal includes deploying Aave V3 on the Aptos main network, and improving the efficiency, accessibility and resilience of the Aave V3 protocol through Aptos, enabling Aave to serve a wider audience.

▌NewLimit, founded by Coinbase CEO, completed a US$130 million Series B financing

NewLimit, an anti-aging company founded by Coinbase CEO Brian Armstorng, announced a $130 million Series B financing round, led by Kleiner Perkins, with Nat Friedman, Daniel Gross and Khosla Ventures.

▌Adidas launches NFT blind box for Xociety game based on Sui chain

Adidas creates an NFT skin for the upcoming third-person crypto-shooting RPG game Xociety, supporting Sui public chains. 2,600 Adidas mysterious blind box NFTs can open in-game skins, including black sweatshirts, neon sportswear and other styles printed with the Adidas logo. Each blind box contains clothing sets of different rarity, divided into four levels: Uncommon, Rare, Epic and First, and will be cast at Tradeport at 9 a.m. Eastern Time on May 16.

▌USDT will be integrated into Line 's Mini Dapp platform and self- hosted wallet

According to official Tether news, the stablecoin USDT will be integrated into the Mini Dapp platform of Japanese social communication giant Line and its self-hosted wallet.

Cryptocurrency

▌Forbes: Wall Street institutions are preparing for a sharp rise in Bitcoin and cryptocurrency markets

High-speed trading giant Tower Research Capital has joined Citadel Securities to "strengthen bets on cryptocurrencies," according to anonymous sources. Wall Street is quietly increasing support for Bitcoin and cryptocurrency as the Trump administration promises to open up Bitcoin trading and cryptocurrency markets, lift restrictions in the Biden era, and quickly advance legislation to reshape the financial system. Last week, Wall Street giants, who manage a total of $10 trillion in funds on behalf of clients, expected to "open business" to Bitcoin this year, allowing consultants to recommend Bitcoin ETFs to clients for the first time.

▌Japanese listed company Metaplanet once again increases its holdings of 555 Bitcoins

According to Metaplanet's announcement, as of May 7, the company purchased 555 new Bitcoins at an average price of 138,24,064 yen (about 89,000 US dollars), with a total amount of 7.672 billion yen, with a total holding of 5,555 BTC, and a total investment of 71.763 billion yen (about 465 million US dollars). This purchase is part of its "Bitcoin Fiscal Strategy". Since 2024, the company continues to buy Bitcoin through additional stock issuance and bond issuance.

▌The US SEC Chairman will deliver a keynote speech on asset tokenization on the 12th

US SEC Chairman Paul Atkins will deliver a keynote speech on asset tokenization on the 12th. On the same day, the US SEC will hold a roundtable conference with the theme of "Tokenization: Moving Assets Onchain: Where TradFi and DeFi Meet." The SEC participants include: Chairman Paul S. Atkins, Richard B. Gabbert, Director of the Office of the Crypto Task Force, and Commissioner Hester Peirce. Other participants include: Cynthia Lo Bessette, Eun Ah Choi (Nasdaq), Will Geyer (Invesco), etc.

▌Ethereum 's market value exceeded US$300 billion, surpassing Coca- Cola and Alibaba to rank 39th in global assets

According to the latest data from 8marketcap, Ethereum's current market value has exceeded US$300 billion, currently hitting US$309.52 billion, an increase of 8.42% in 24 hours, surpassing Alibaba (US$303.72 billion) and Coca-Cola (US$303.53 billion) and rising to the 39th place in the global asset market value.

▌DeFi platform Zaros will stop operating due to exhaustion of funds

The team of DeFi platform Zaros tweeted that it will cease operations due to exhaustion of funds. The team tried to adjust the strategy, but the system failed to access existing liquidity sources and timing of ZRS tokens. Additionally, neither co-founder sold any ZRS tokens in the process.

Important economic trends

▌People 's Bank of China announces interest rate cuts

On May 7, the Governor of the People's Bank of China Pan Gongsheng announced at the press conference of the State Council Information Office, which said: the deposit reserve ratio was reduced by 0.5 percentage points, and it is expected to provide the market with a long-term liquidity of about 1 trillion yuan; the policy interest rate was reduced by 0.1 percentage point, that is, the open market's 7-day reverse repurchase operation interest rate was reduced from the current 1.5% to 1.4%, which is expected to drive the loan market quotation rate (LPR) to decline by about 0.1 percentage point simultaneously; The interest rate of the structured monetary policy was lowered by 0.25%, including: the interest rate of various special structural tools and the interest rate of re-lending for agriculture and small businesses, both of which were reduced from the current 1.75% to 1.5%; the interest rate of mortgage supplementary loans (PSL) was reduced from the current 2.25% to 2%; the interest rate of personal housing provident fund loans was reduced by 0.25 percentage points, the interest rate of first homes for more than 5 years was reduced from 2.85% to 2.6%, and the interest rates for other periods were adjusted simultaneously.

▌China 's foreign exchange reserves in April were US$3281.662 billion

China's foreign exchange reserves in April were US$3281.662 billion, with an expected US$3265 billion, compared with the previous value of US$3240.67 billion.

▌ FOMC Statement: Uncertainty in the U.S. economic outlook further increases

The Fed's FOMC statement shows that uncertainty in the U.S. economic outlook has further increased. The Fed reiterates its concern about the risks in both aspects of its dual mission. Even though net export volatility affected the data, economic activity continued to expand at a “stable rate”.

Traders continue to think the Fed may cut interest rates in July

After the Fed rate resolution was announced, traders continued to believe that the Fed would cut interest rates by July, and still expected three rates this year.

▌Powell: Inflation has dropped sharply

Fed Chairman Powell said inflation has fallen sharply, with inflation slightly above the target level of 2%. Short-term inflation expectations have risen. The labor market is not the main source of significant inflationary pressure; long-term inflation expectations are consistent with the target. It also stated that the Fed has an obligation to stabilize inflation expectations.