US FTC and Nevada State Sue Crypto Investment Education Company for $1.2 Billion Fraud
The US Federal Trade Commission (FTC) and Nevada State have filed a lawsuit against a cryptocurrency investment education service provider for $1.2 billion in fraud allegations. According to CoinDesk, the company operated under names such as IYOVIA, IM Mastery Academy, iMarketsLive, and IM Academy (collectively referred to as IML), providing investment education services for cryptocurrency, forex, and stock markets. The lawsuit claims they falsely represented expected income for customers and sales representatives. IML operated with a multi-level marketing business structure and focused on attracting young people by advertising on college social media pages.
Nasdaq-Listed Company Submits Securities Registration for Up to $200 Million Stock Issuance... Purpose Including BTC Purchase
Thumzup, a Nasdaq-listed social media marketing company, submitted a Form S-3 securities registration to the Securities and Exchange Commission (SEC) for issuing up to $200 million in common stock, shares, warrants, or rights, as reported by Ublock Chain. The funds will be used for general corporate purposes, including Bitcoin purchase and operational funding.
BTC Spot ETF Sees $956 Million Net Inflow... Second Consecutive Trading Day
According to TraderT, on May 2nd (local time), the US BTC spot ETF experienced a net inflow of $678.78 million (approximately $956 billion). This marks the second consecutive trading day of net inflow. Only BlackRock's IBIT saw net inflow, while other ETFs had no net inflow or outflow.
CME Crypto Average Daily Trading Volume in April Increases 129% Year-on-Year
PR Newswire reported that the Chicago Mercantile Exchange (CME) cryptocurrency average daily trading volume (ADV) in April was 183,000 contracts (nominal value of $8.9 billion), a 129% increase compared to the same period last year. Micro BTC and ETH futures average daily trading volumes increased by 115% and 165%, respectively.
Goldman Sachs and Barclays "Expect Fed to Cut Rates in July"
Reuters reported that Goldman Sachs and British investment bank Barclays expect the US Federal Reserve to cut rates in July.
Blockchain Association Urges SEC to Take Flexible Approach to Crypto Regulation
The Blockchain Association, comprising members like Coinbase, Kraken, and Uniswap Labs, urged the SEC to adopt a gradual and flexible approach to cryptocurrency regulation. According to The Block, they submitted a written opinion to the SEC's crypto task force, emphasizing that "the committee should avoid adopting rules, policies, and guidelines that limit people or cases utilizing blockchain technology. Previous SEC administrations tried to shape the crypto market structure based on stock market perspectives, which was ineffective. The committee should leverage technology and market innovation instead of proposing specific transaction methods."
Wemix Says DAXA Delisting is Abuse of Discretion... Pursuing Provisional Injunction
Tech M reported that the Wemix Foundation, after receiving a delisting notice from the Digital Asset Exchange Cooperative (DAXA), is pursuing a provisional injunction. Kim Seok-hwan, Wemix Foundation representative, emphasized at a press conference that DAXA's delisting decision was arbitrarily judged without clear criteria and that they did not receive additional clarification or feedback from DAXA after the trading caution designation. He stressed, "We believe the current state due to discretionary abuse could cause irreparable damage, and we will argue and clarify more in court than we did to DAXA."
Playtron to Launch Programmable Stablecoin in Q4
The Block reported that Playtron, a portable game console startup, plans to launch a programmable stablecoin called 'Game Dollar' in the fourth quarter on Sui (SUI). They collaborated with stablecoin infrastructure platform M0 and stablecoin payment startup Bridge. Game Dollar is built on M0's stablecoin development platform and integrated with Bridge's payment API. Users can use Game Dollar for purchases, subscriptions, and rewards across the game ecosystem.
Bitcoin Market Cap Ranks 7th Globally, Surpassing Silver
According to Infinity Market Cap data, Bitcoin has risen to 7th place in global asset rankings, surpassing silver. Bitcoin's current market capitalization is $1.933 trillion.
24-Hour Cryptocurrency Perpetual Futures Liquidation Scale
Recent 24-hour cryptocurrency perpetual futures liquidation scale and liquidation ratio are as follows:
BTC Liquidation Scale: $36.5 million, Liquidation Ratio: Short 65.17%
ETH Liquidation Scale: $27.71 million, Liquidation Ratio: Long 51.27%
SOL Liquidation Scale: $4.84 million, Liquidation Ratio: Long 76.15%
Cipher Mining Sells 350 BTC in April
Nasdaq-listed Bitcoin mining company Cipher Mining reported mining 174 BTC and selling 350 BTC in April. Currently holding 855 BTC.
Analysis: "BTC Investors Still Cautious"
CoinTelegraph analyzed that despite BTC reaching a 10-week high, investor sentiment remains in the neutral zone. The media reported that the BTC annual 2-month futures premium remained in the neutral range (5-10%) at 6-7% last week, compared to January when it exceeded 10%, indicating deteriorating investor sentiment. They explained this could be due to concerns about potential economic recession from US tariff wars and the strong correlation between BTC and stock markets weakening the 'digital gold' narrative. Derivatives investors expecting future strength are also restraining leverage usage.
Crypto 'Fear and Greed Index' at 65... Continued Greed
The self-calculated 'Fear and Greed Index' by cryptocurrency data provider Alternative recorded 65, down 2 points from the previous day. The greed stage continued. The index indicates extreme market fear closer to 0 and extreme optimism closer to 100. The Fear and Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market cap proportion (10%), and Google search volume (10%).
Altcoin Season Index 19...Up 4 points from previous day
The 'Altcoin Season Index' from the comprehensive virtual asset information platform CoinMarketCap recorded 19, up 4 points from the previous day. The Altcoin Season Index is determined by comparing the price fluctuation rates between the top 100 coins by market cap (excluding stablecoins and wrapped coins) and Bitcoin. If 75% of the top 100 coins have higher growth rates than Bitcoin over the past 90 days, it is considered an Altcoin season; otherwise, a Bitcoin season. The closer to 100, the more it is seen as an Altcoin season.
US Senator: "Concerned about TRUMP Top Holders Dinner Invitation"
Pro-cryptocurrency US Senator Cynthia Lummis expressed skepticism about Donald Trump's dinner invitation to TRUMP top holders. According to CoinTelegraph, Lummis personally stated she is "concerned" about this. Meanwhile, Republican Senator Lisa Murkowski also said, "It is inappropriate to receive money from those touring the White House." Previously, Trump was set to host a 'TRUMP Dinner' for TRUMP meme coin holders, offering 25 top holders a chance to meet Trump and tour the White House.
500 Million XRP Unlocked
According to Whale Alert, 500 million XRP was unlocked from Ripple's address.
300 Million XRP Unlocked
According to Whale Alert, 300 million XRP was unlocked from an anonymous address.
200 Million XRP Unlocked
According to Whale Alert, 200 million XRP was unlocked from an anonymous address.
