BlockBeats will summarize the industry's key news content for the week (5.12-5.18) in this article, and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Review

“Ethereum Surges 40% in 3 Days” Becomes a Trending Topic on Douyin; Ethereum On-chain Activity Significantly Increases This Week

On May 11, the topic “Ethereum Surges 40% in 3 Days” became the number one trending topic on Douyin. The content related to “What happened to Ethereum with a 40% surge in 3 days.” Within this week, the Ethereum price broke $2600 multiple times, reaching a high above $2700. On the 16th, Sentora (formerly IntoTheBlock) published an article stating that due to a significant increase in on-chain activity, Ethereum's total transaction fees surged by 160% this week. Related readings: “After a 95% Surge in Half a Month, Has Ethereum's Price Peaked?”, “Surge of Both New and Old Memes: Is the Bull Market Starting or Is it Market Makers Rescuing Themselves?”, “Ethereum Leading the Surge Triggers the ‘Altseason’ Speculation: How Do Traders View the Future Market?”, “Fundamental Analysis: ETH Surges 40%, SOL Set to Rebound with Three Killer Features”, “Is $5000 Just the Beginning? Ongoing Reevaluation of ETH's Value, These Three Ecosystem Projects Benefit the Most”

The US and China Reach a Trade Agreement in Geneva, and the US Adjusts Additional Tariffs on China on the 14th

On May 12, the United States announced a trade agreement with China in Geneva. US Treasury Secretary Scott Benson and US Trade Representative Jamison stated that the negotiations took place in Geneva, Switzerland, over two days and achieved "substantial progress." The negotiation involved Benson, Ambassador Jamison, the Chinese Vice Premier, and two deputy ministers. On the 14th, at 12:01 am US Eastern Time, the US revoked the total 91% tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macau Special Administrative Region) under Executive Orders 14259 of April 8, 2025, and 14266 of April 9, 2025. The US also modified the 34% retaliatory tariff measures imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macau Special Administrative Region) under Executive Order 14257 of April 2, 2025, with 24% of the tariffs temporarily suspended for 90 days and the remaining 10% of the tariffs retained. Additionally, the US reduced or revoked tariffs on small packages from China (including small packages from the Hong Kong Special Administrative Region), lowered the ad valorem rate on international mail from 120% to 54%, and canceled the measure to increase the volume tax from $100 to $200 per item starting June 1, 2025.

Meme LaunchPad Platform Update: Pumpfun, Believe, LetsBonk - Intense Competition

This week, the competition on the Meme LaunchPad platform has heated up, with new meme coins emerging rapidly. Differentiated strategies have been launched by platforms such as LetsBonk.fun, a collaboration between Raydium and BONK, and the social platform Believe. These strategies, including creator rewards, community governance, Scout incentives, aim to break the monopoly of Pump.fun and drive the Launchpad from speculation to value incubation, becoming a new entry point for Web3 project cold starts. On May 13, the Solana-based Meme coin launch platform Letsbonk.Fun contributor TOM revealed in a post that they had been blocked by the pump.fun official Twitter account. This action has sparked community attention and discussions. Approximately 9 hours later, the pump.fun official account X unblocked them. Related Readings: "LetsBonk Surpasses Pumpfun, Believe Creates Billion-Dollar Meme Coin, Meme LaunchPad Competition Heats Up", "Believe Platform's Breakthrough: Seizing the Initiative, Buying Low in Value Pockets", "First Breakthrough by Pump.fun, Raydium's Ecosystem Strikes Back through LaunchLab Wolves Pack", "What is 'ICM'? Holding Up Believe, Solana's New Narrative with $4 Billion Market Cap"

This Week's Meme Coin Highlights:

Believe: GOONC, STARTUP, LAUNCHCOIN

On May 13, X platform KOL Pata van Goon (@basedalexandoor) launched the celebrity coin GOONC on the meme issuance platform Believe. The coin's market capitalization exceeded $10 million within 3 hours of listing, with a peak market cap exceeding $20 million. According to @basedalexandoor's page information, a16z co-founder Marc Andreessen follows the account, and the bio is set as "applied @openai." Related Reading: "Rapid $70 Million Market Cap in 24 Hours, Will GOONC be the Next Billion-Dollar Meme Coin on Believe Platform?"

On the 15th, the market cap of the Solana-based meme coin STARTUP surged from $450,000 to over $20 million, with a more than 40x increase in one hour. The coin, shilled by the Key Opinion Leader (KOL) him (@himgajria) who bought the dip, exploded with consecutive pumps, emphasizing the narrative of "product equals market cap" and satirizing traditional startup investment logic. With a minimalist setup of "no team, no roadmap, purely emotion-driven," it quickly became the top emotional play of the day and climbed the ranks on Solana's hot list. Related reading: "STARTUP Surges 40x in Half an Hour – How did him Become the Sentiment King of Believe?"

On the 16th, the platform token of Believe, LAUNCHCOIN, surpassed a $260 million market cap, becoming one of the most powerful hundredfold coins in recent times. The coin, formerly known as the celebrity coin $PASTERNAK, was launched by Clout (now renamed Believe) founder Ben Pasternak earlier this year. It once dropped to zero but resurged on-chain following platform transformation, active ecosystem projects, and backing from Silicon Valley entrepreneurs. "LaunchCoin Rises 20x in a Day – How does Believe Mint a $2 Billion Golden Dog after Reset? | 100x Retrospective"

Letsbonk.fun: Hosico, Useless, IKUN

Hosico, originally a cute cat with 1.8 million followers on Instagram, has its meme coin on the Letsbonk.fun platform in the Ghibli AI art style category. Its market cap has reached as high as $60 million.

The Useless token gained attention from the platform's founder @Solporttom as it was promoted by the platform's well-known influencer @theunipcs (Bonkguy) for being "useless for use, useful for memes." Its market cap reached a high of $34 million.

IKUN, a meme project representing the fan base of the celebrity Cai Xukun, attracted attention from the global meme coin community due to promotion by the platform's prominent influencer @theunipcs (Bonkguy) in the Chinese community blogosphere and community. Its market cap surged past $10 million. Related reading: "The Letsbonk.fun Meme Ecosystem Resurges: Are 'Chinese-themed' Tokens Becoming Popular Targets?"

Binance Alpha Launches Multiple Airdrops and TGE Events this Week, with Trading Volume Reaching New Highs

Details are as follows:

· May 12: Alpha Points ≥186 or Points 147–185 with UID ending in 5 will receive a 362 PUFFER airdrop

· May 13: Points ≥205 or Points 170–204 with UID ending in 7 will receive a 482 RDAC airdrop and will consume 15 points

· May 14: Points ≥198, or Points 162–197 with UID ending in 0 can participate in the Privasea AI TGE and will consume 15 points

· May 15: Points ≥187, or Points 143–186 with UID ending in 9 will receive a 198 NXPC airdrop and will consume 15 points

· May 16: Points ≥186 can participate in the Alaya AI (AGT) TGE event.

On the 15th, Binance Alpha's trading volume reached $7.704 billion, hitting a new all-time high. Among them, ZKJ had a trading volume of $3.919 billion, B2 had a trading volume of $1.487 billion, and SKYAI's trading volume of $79.1 million ranked high. Related readings: "What Has Changed in 150 Days of Binance Alpha?", "Intense Competition in Binance Alpha Points: Users are Crazy about Points, Are Meme Projects Also Winners?", "Deconstructing the 'Asian Market-Making-Driven' New Model of Binance Alpha 2.0."

Blockchain Game Project MapleStory Officially Holds TGE This Week, with Daily Transaction Volume Exceeding 100,000, Setting a New Record

On May 15, the Web3 version of "MapleStory" officially launched, issuing the in-game token NXPC. This is the largest blockchain game ever: operating for over 20 years, total revenue exceeding $5 billion, and total players exceeding 250 million. NXPC was listed on multiple exchanges such as Binance, Bybit, Bitget, Upbit, Bithumb during the TGE, with Binance Alpha airdrop single address earnings reaching up to $600. On the 15th, its transaction and token data peaked: with over 1.15 million active addresses and 103,000 transactions. Related readings: "First Experience of the Chain Game Version of the Classic 'MapleStory'", "MapleStory's Crypto Adventure: NXPC Creating Wealth Effect, Will the Spring of Chain Games Return?"

Coinbase to be Included in the S&P 500 Index, Becoming the First Pure Crypto Company to Join the S&P 500 Index

On May 13, S&P Dow Jones Indices announced that the cryptocurrency exchange platform Coinbase (COIN.O) will be included in the S&P 500 Index, replacing Discover Financial. Coinbase became the first pure crypto company to join the S&P 500 Index. The stock price surged over 20% on the same day.

Coinbase Faces Double Blow of "SEC Investigation" + "User Data Theft," Expected Losses of Up to $400 Million, Stock Plunges 7% in a Single Day

On May 15, according to an official statement from Coinbase, hackers, through bribing overseas customer support staff, stole partial personal information of less than 1% of active users, but did not involve passwords, private keys, or funds. Coinbase refused to pay a $20 million ransom and established a $20 million reward fund to track down the attackers. Affected customers who were scammed into transferring funds will receive compensation. Coinbase Prime accounts were not affected, and the case is currently under investigation in cooperation with law enforcement agencies. Coinbase officials estimate that they will pay between $180 million and $400 million in compensation for this incident. On the 16th, according to market sources, hackers had access to Coinbase customer data since January of this year. Subsequently, Bloomberg reported that personal information from Coinbase account of Sequoia Capital partner Roelof Botha was stolen.

In addition to being embroiled in a hacking incident, Coinbase is also under investigation by the SEC. According to four sources familiar with the matter, the SEC is investigating whether Coinbase misrepresented user numbers in past disclosure documents—this investigation initiated during the Biden administration is still ongoing from the Trump era. The previously undisclosed investigation focuses on Coinbase's claim in securities filings and marketing materials of having over 100 million "verified users" as a metric. This data appeared in the 2021 listing documents but was no longer referenced by the company two years later. Two sources said that Coinbase has been in constant communication with the SEC this year and has hired Debevoise & Plimpton LLP to assist in response. Related read: "Coinbase Data Leak of 100,000 Users, Hackers Demand $20 Million Silence Fee"

Due to the Telegram Ban, Huobi Guarantee announced the Suspension of Operations

On May 15, Haowang Guarantee (formerly known as Huione Guarantee) recently announced on its official website that "all of the company's NFTs, channels, and groups have been blocked by Telegram, and Haowang Guarantee will cease operations from now on." According to Wired, Haowang Guarantee's move is in response to Telegram's actions on Monday, where Telegram banned thousands of accounts that formed the infrastructure of a large third-party vendor market, with many vendors providing money laundering and other services to the thriving East Asian cryptocurrency scam industry.

Wall Street Big Short: Shorting Strategy and Buying Bitcoin

On May 15, CNBC reported that Wall Street's renowned big short Jim Chanos is simultaneously betting on Bitcoin and shorting MicroStrategy, a company that has adopted a high-risk cryptocurrency strategy with the enthusiastic support of retail investors. Chanos stated, "We are shorting Strategy's stock and buying Bitcoin, essentially buying at $1 and selling at $2.50." Chanos said, "If you look at Strategy and some of the even more concerning imitators now, they are raising a lot of money basically pitching this idea to retail investors: we are going to buy Bitcoin on our corporate structure. Because of Strategy's actions, you should value us at a similar premium." However, Chanos called this idea "absurd."

MetaMask Co-founder: Team Still Considering Introducing Native Token for Wallet

On May 15, MetaMask co-founder Dan Finlay stated in an interview with The Block's Tim Copeland that the team is still considering introducing a native token for the wallet. Finlay mentioned that the parent company ConsenSys has long raised the idea of launching tokens for verticals, including MetaMask, to drive "progressive decentralization." "If we were to do it, we would advertise it right in the wallet. You could just find the link right in your wallet."

Crypto Market Maker Wintermute to Open U.S. Headquarters in New York in June

On May 15, crypto market maker Wintermute announced that it will open its first U.S. headquarters in downtown Manhattan, New York on June 1. They also appointed policy veteran Ron Hammond as Head of Policy and Advocacy. Wintermute CEO Evgeny Gaevoy stated, "As U.S. policies toward digital assets and blockchain innovation become more friendly, we have decided to act quickly and establish a presence in the financial capital of the world, New York City." This move comes as the Trump administration has shown support for the crypto industry, including appointing crypto-friendly regulators. Related reading: "Wintermute CEO's View on Market Maker Scandal"

Farcaster Frontend App Warpcast to be Officially Renamed to Farcaster

On May 15, Farcaster Co-founder and CTO Varun Srinivasan announced that Warpcast, one of the frontends of the decentralized social media network Farcaster, will be renamed to Farcaster. Other specific changes include: the mobile app will be renamed to Farcaster; the classic Arch logo (Farcaster Logo) will be reinstated; the official website domain will be transitioned from warpcast.com to farcaster.xyz; all old links will remain backwards compatible (no action required from users).

TRUMP Reportedly Set to Launch "Trump Points" NFT Marketplace

On May 13, based on leaked website information, the official Trump MEME coin TRUMP is reportedly set to launch a "Trump Points" NFT marketplace – a platform where users can buy and sell NFTs using loyalty points or cryptocurrency. Loyalty points can be earned through transactions and by completing platform-defined tasks, and holding TRUMP tokens may potentially increase points earned. Note: This information is based on leaked website data and should be taken as speculative.

Tiger Brokers Introduces Cryptocurrency Deposit and Withdrawal Services, Supporting BTC, ETH, and Other Major Cryptocurrencies

On May 14, according to the "Economic Digest," Tiger Brokers (Hong Kong) launched cryptocurrency deposit and withdrawal services, supporting cryptocurrency deposits, trading, and withdrawals, including major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). This service is also an SFC-licensed virtual asset trading service app in Hong Kong. Tiger Brokers also introduced a promotion, starting from 12:00 pm on May 14, 2025, new users who successfully deposit cryptocurrency into their Tiger Trade account for the first time and maintain a net asset value of at least 0.01 BTC or 0.5 ETH for a continuous 60 days will receive a $200 HKD Coinbase (US.COIN) stock reward.

Ethereum Foundation Launches "Trillion Dollar" Security Plan

On May 14, the Ethereum Foundation announced the launch of the "Trillion Dollar" Security Plan, a comprehensive plan covering the entire ecosystem aimed at enhancing Ethereum's security and helping the world move towards on-chain. The plan consists of three parts: "Full-Stack Security Map Drawing," "Key Area Breakthroughs," and "Security Awareness Upgrade." The "trillion dollars" in the plan refer to the billions of individuals willing to store over $1,000 worth of assets on-chain, totaling tens of trillions of dollars stored on Ethereum. Companies, institutions, or governments can easily store over $1 trillion worth of value in a single contract or application. The entire plan is co-chaired by Fredrik Svantes (Protocol Security Lead) and Josh Stark (EF Management Team).

American Bitcoin Mining Firm Signs Merger Agreement with Gryphon, Plans to Go Public

On May 12, American Bitcoin mining firm announced the formal merger agreement with Gryphon Digital Mining company, with plans to go public. The post-merger company will trade on Nasdaq under the ABTC stock symbol, with Eric Trump, son of former President Trump, serving as Chief Strategy Officer, and executives from Tinder, co-founders of Hut 8, leading the board. This merger will accelerate its expansion in the U.S. Bitcoin infrastructure development while retaining the profit potential for Hut 8 shareholders. In response to the news, Gryphon's stock price surged over 300%. Related article: "Trump's Son's Bitcoin Mining Firm American Bitcoin to Go Public via SPAC Merger, Gryphon Mining Soars 330%"

SEC Chair Paul Atkins Unveils His Vision for Crypto Regulation, Institutions to Take a More Crypto-Friendly Approach

On May 13, the new SEC Chair Paul Atkins announced a significant shift in crypto regulation and elaborated on issuance and custody policies during the fourth crypto task force roundtable. In contrast to the previous administration, he advocates for a completely different regulatory approach. He plans to provide guidance for assets with characteristics of securities or investment contracts and criticized the previous chair for inaction on the registration process, accusing them of adopting an "ostrich policy" by not adjusting registration forms to accommodate crypto technology. Atkins also mentioned that custody rules may be updated to allow funds and advisers to self-custody under specific conditions. Additionally, he noted the exploration of providing a conditional exemptive path for registrants or non-registrants introducing new products to address the current rule-new business incompatibility. Related article: "Top 5 Quotes to Decipher SEC's New Chair's Crypto Regulation Direction"

FTX Major Repayment to Begin on May 30, Total Allocation Funds Exceed $5 Billion

On May 16, according to Reuters, FTX's major repayment is set to begin on May 30 for the second distribution to creditors, with total allocation funds surpassing $5 billion. FTX had previously made the first repayment distribution to small creditors in the Convenience Classes category under the Chapter 11 restructuring plan. Earlier reports by BlockBeats, FTX creditor representative Sunil stated that Kraken has begun emailing FTX users to confirm the next round of FTX reimbursement distribution scheduled for May 30, 2025. This distribution covers claims below $50,000 and above $50,000.

SEC Seeks Public Opinion on BlackRock Bitcoin ETF Physical Redemption and Delays Grayscale SOL and Litecoin ETF Proposals

On May 12, it was disclosed that BlackRock filed an application to allow its Ethereum ETF to conduct a physical redemption, supporting direct ETH buyback. On the 14th, the U.S. SEC delayed the decision on BlackRock's iShares Bitcoin Trust physical redemption mechanism, requesting public comments on the proposal. The current cash redemption model requires the custodian to sell Bitcoin first before returning cash to investors. Analysts point out that approval of physical redemption would enhance ETF trading efficiency. Additionally, proposals for the Grayscale Litecoin Trust and Grayscale Solana Trust were postponed, and the 21Shares Dogecoin ETF entered the public opinion solicitation stage.

Sky Reports $5 Million Loss in Q1 Due to 102% Growth in USDS Incentive Interest Expense

On May 14, according to Coindesk, based on a report authored by contributors from Steakhouse Financial, Sky (formerly MakerDAO) reported a $5 million loss in the first quarter of this year, attributed to a doubling of interest paid to token holders. This loss stands in stark contrast to the previous quarter when Sky achieved profits of $31 million. The 102% increase in interest expense was primarily due to Sky's decision to drive user adoption of its newly launched stablecoin, Sky Dollar (USDS), through higher incentives, replacing the existing DAI. Related reading: "High USDS Channel Costs Eat Into Profits, MakerDAO Reports $5 Million Loss in Q1"

Former Aptos Co-Founder and CEO: Holds Significant SUI Position, Still Holds About 98% of APT

On May 13, former Aptos co-founder and CEO Mo Shaikh stated on X platform that he still holds about 98% of APT tokens and mentioned holding a significant SUI position (I have nice SUI bag now ;-) ). In December of last year, Mo Shaikh announced his resignation. Mo Shaikh stated at that time that he would continue to serve as a strategic advisor to Aptos Labs and over the next few months, he would "reflect on the development direction and deeply consider how the financial system should evolve to further drive Aptos to become the most mature Layer 1 in the field."

YZi Labs Announces Global Incubation Program EASY Residence Investment Terms

On May 13, according to official sources, YZi Labs announced the investment terms for the EASY Residence global incubation program targeting the Web3, AI, and other fields. The program will invest $500,000 in each selected startup; the investment is divided into two parts: 1. In the form of a Simple Agreement for Future Equity (SAFE), $150,000 for 5% equity (with any applicable rights). 2. After demo day, in the next funding round, the startup will receive an additional unlimited SAFE of $350,000. Earlier, YZi Labs announced the launch of EASY Residence, a 10-week global incubation program targeting early-stage teams in the Web3, Artificial Intelligence (AI), and healthcare sectors. The first phase of projects is set to kick off in Silicon Valley, California, USA, on June 2, 2025, where 10 to 20 selected teams will receive support, concluding on August 10, 2025. Applications are now open, with a deadline of May 21, 2025.

Dubai Treasury to Start Accepting Cryptocurrency for Government Service Fees

On May 13, as per Solid Intel, the Dubai Treasury will begin accepting cryptocurrency as a payment option for government service fees. Previously reported, Dubai had signed a landmark agreement with Crypto.com, becoming one of the world's first governments to fully enable public service crypto payments.

Arizona Governor Signs Cryptocurrency ATM Anti-Fraud Bill HB 2387

On May 13, it was reported that Arizona Governor Katie Hobbs vetoed two cryptocurrency-related bills and signed a regulatory bill concerning cryptocurrency ATMs. The vetoed bills included SB 1373 (Digital Asset Strategic Reserve Fund Act) and SB 1024 (Government Acceptance of Cryptocurrency Act). The signed HB 2387 bill establishes strict regulations for cryptocurrency ATMs, including requirements for operators to display multilingual fraud warnings, set daily transaction limits (new users $2,000, existing users $10,500), offer 24/7 customer support, and comply with anti-money laundering protocols.

Seven Men in Hubei, China, Investigated for Illegally Setting Up Online Channels for Conducting Virtual Currency Illegal Transactions

On May 15, according to China News Network, the Xian'an Police in Xianning City, Hubei Province, successfully cracked a case of unauthorized use of an illegal channel for international internet access. A criminal group led by Tang illegally accessed the international internet through multiple network devices set up in a private room, using an illegal channel to engage in large-scale virtual currency and foreign exchange illegal transactions using overseas software. The involved funds amounted to over 120,000 yuan. Currently, 7 violators have been lawfully fined, and the case is under further investigation and expansion.

A Certain Group Illegally Operated Foreign Exchange through Virtual Currency Matching, with an Involved Amount of Over 3.9 Billion Yuan

On May 16, according to Red Star News, on May 15, the Sichuan Public Security Bureau of China released 10 typical cases of economic crimes, including the "2•6" illegal operation (foreign exchange) case. In this case, since August 2021, Fan, He, Chen, and others in Chengdu successively established studios and technology consulting companies, using social network software for targeted customer drainage, colluding with domestic agents of overseas exchange institutions. They provided illegal RMB cross-border exchange services through overseas gift card cash-out, virtual currency matching, and other methods, with a total involved amount of over 39 billion yuan. The case successfully arrested 21 criminal suspects and will conclude the investigation by December 2024 and transfer for prosecution.

Major Fundings This Week: Openverse Network Completes $11 Million Strategic Financing, GD Culture Group Announces $300 Million Financing Commitment, AI Video Platform Hedra Completes $32 Million Series A Financing

On May 12, the blockchain infrastructure platform Openverse Network announced the completion of an $11 million strategic financing round. This financing round was led by Castrum Capital, TB Ventures, DuckDAO, and Asva Capital. The Openverse Network ecosystem includes a blockchain explorer, wallet, developer documentation, GitHub resources, etc., creating a comprehensive development and usage environment.

On the 13th, the U.S.-listed company GD Culture Group Limited and its subsidiary, AI Catalysis Corp., announced that they had entered into a common stock purchase agreement with a certified investor—a limited liability company registered in the British Virgin Islands. Under the agreement, the company will sell up to $300 million in common stock to this investor. The proceeds from this financing will be used to support the company's cryptocurrency reserve strategy, including the purchase of Bitcoin and the official TRUMP token.

On the 15th, the U.S. AI video platform Hedra completed a $32 million Series A funding round, led by a16z Cultural Leadership Fund, with participation from Index Ventures, Abstract, and others, bringing the total funding to $43 million. Hedra plans to expand its team to 60 people by the end of the year and upgrade its Character-3 model for enterprise AI video marketing scenarios. Hedra integrates text, image, and audio input to generate high-quality digital characters, helping brands efficiently create realistic video content.

This Week's Popular Articles

"The Sound of Fartcoin Echoes on Wall Street"

A surreal token, Fartcoin, born out of AI idle chat "farting," unexpectedly became the only mainstream coin to rise in Q1 of 2025. a16z Cultural Leadership Fund, Sigil Fund, and Wintermute are all suspected of deep involvement. Not only did it spark a frenzy in the crypto world with its virality and emotional control, but it also stirred controversy on Wall Street, criticized by hedge fund giants as a "speculative epitome" and mocked as the "pinnacle of financial nihilism." The popularity of Fartcoin indicates that in a market where attention is paramount, the absurd sometimes carries more persuasive power than logic.

"150 Days, What Has Binance Alpha Changed?"

Binance Alpha has evolved from a wallet feature to a core mechanism driving on-chain liquidity and asset pricing, establishing a "points-airdrop-listing" closed loop among project teams, rug pullers, and retail investors. Through setting points thresholds, lucky suffixes, and other screening mechanisms, Alpha has achieved traffic guidance, asset cold start, and user participation pathway restructuring. Project teams are vying for Alpha listing spots by mapping tokens to the BNB chain, injecting liquidity, and reshaping incentive structures, even at the cost of "backstabbing" early communities; while retail investors are turning to a points strategy centered on institutional gaming, seeking low-threshold returns. Alpha successfully frontloads Binance's first-level asset organizing ability onto the chain, reclaiming the pricing power that originally belonged to VCs or other trading platforms back to the Binance ecosystem, becoming the most systemically influential traffic entry point in the current cycle.

"First Experience of the Chain Game Version of the Legendary Game 'Adventure Island'"

《MapleStory》 Web3 Version Officially Launched to Explosive Popularity, Triggering the "Have You Islanded Yet?" Craze, but the gameplay experience fell short of the gold-farming expectation. While retaining classic gameplay, it introduced on-chain NFT characters and a tokenomic system ($NXPC, $NESO). However, the high barrier to forging and drop rates limited early players' earnings. Currently, the gold-farming efficiency is low, equipment drop rates are rare, instead reinforcing the game's "Play to Raffle" gaming attribute. Despite ongoing issues since its launch, such as incomplete localization and inadequate newbie guidance, this blockchain game masterpiece led by Nexon, which was listed on multiple exchanges upon launch, is still considered a compass for the future development of Web3 games.

"Coin Issuance Platform is Heating Up, But Did You Make Money?"

Over the past year, the meme coin issuance platforms on Solana have evolved from Pump.fun's dominance to a multi-platform competitive landscape. While Pump.fun ignited a meme craze through its "no-barrier coin issuance + instant trading" mechanism, it also faced doubts due to poor project quality, high user loss rate, and continuous SOL dumping. Raydium's LaunchLab, BONK's LetsBonk.fun, and social platforms like Believe have successively adopted different strategies, aiming to break Pump.fun's monopoly through creator revenue sharing, community governance, Scout incentives, etc., and propel Launchpad from speculation to value incubation, becoming a new entry point for Web3 projects' cold start.

"Binance Profit Guide: BNB Hodlers vs Alpha Hunters, How to Maximize Returns?"

Binance's current four major profit-making activities — Alpha Airdrop/TGE, Launchpool, HODLer Airdrop, and Megadrop — correspond to different user risk preferences and participation methods, forming the two mainstream strategies of "Stably Holding BNB" and "Actively Accumulating Alpha Points": the former suits long-term value holders, earning stable returns through financial management, mining, and tasks; the latter relies on frequent operations to accumulate points and grab airdrops, pursuing high returns. By reasonably combining the two strategies, one can achieve maximum capital efficiency and returns.

"Why Do Most People Lose Money in Cryptocurrency Trading? Raoul Pal, Former Goldman Sachs Executive, and the Counterintuitive Path to Wealth"

Former Goldman Sachs executive Raoul Pal believes that the key to wealth accumulation in the crypto space lies in sticking to long-term investment, Dollar-Cost Averaging (DCA) into Bitcoin, rather than chasing quick profits. He warns of the high risks of meme coins and the hidden dangers of Crypto Yield, emphasizing that market cycles are driven by liquidity and macroeconomics. He is bullish on Ethereum's institutional status and the growth potential of the Sui ecosystem, pointing out that NFTs and AI will be key areas for future value reconfiguration. He suggests focusing on assets within the top 20 projects that combine user growth with real-world applications to capture the next round of asset revaluation dividends.

"Revealing the Inside Story of Solana's $10 Million Harvest in the Past 3 Months"

Multiple wallets on the Solana chain have achieved million-dollar profits through front-running project tokens and precise buy/sell operations, raising concerns about the phenomenon of "insider trading." In projects like LIBRA, Andrew Tate, and HAWK, team wallets frequently operated around token launches, cashing out millions of dollars and establishing connections with key figures through on-chain transfers. These wallets exhibit high trading frequency and precise coin selection, indicating that their profits are not accidental but rather a result of controlling the market and insider information. Despite the significant risks involved, tracking the dynamics of these addresses is becoming an effective way to understand market trends and discover investment opportunities.

"LetsBonk Surpasses Pumpfun and Believe to Create Billion-Dollar Golden Dog, LaunchPad for Memes Enters Fierce Competition"

The meme coin LaunchPad battle on Solana has fully commenced, with LetsBonk.fun launched by BONK emerging as the new dark horse, quickly surpassing PumpFun in daily active users and graduated token count. Backed by the influence accumulated by BONK in the ecosystem and personally endorsed by Toly, LetsBonk has not only attracted the OG community and core project support but has also driven successive waves of meme tokens (such as HOSICO, USELESS, DAZHUANG) to rapid popularity. Meanwhile, another new coin platform, Believe, has also made its mark, challenging PumpFun's monopoly position and creating a multi-brand competitive landscape in the LaunchPad market, injecting long-awaited liquidity and vitality into the Solana ecosystem.

"What Is 'ICM'? Unveiling the New Solana Narrative Behind Believe's $4 Billion Market Cap"

The "Internet Capital Markets (ICM)" is rapidly replacing the meme narrative to become the key phrase of Solana's on-chain new crypto bull market. Its core idea is to build an on-chain capital market where everyone can participate, and assets can be freely issued and circulated, transitioning from the early days of the "on-chain Nasdaq" to covering various asset forms such as financing, trading, culture, AI applications, etc., in a decentralized financial infrastructure. The representative project Believe, through a low-barrier token issuance mechanism and explosive platform revenue, led the way to the hype of LaunchCoin, with related tokens such as BSCREENER, DUPE, AURA, BUDDY, etc., following the uptrend. However, the true proposition of ICM is not to encourage indiscriminate token issuance but to find high-quality assets that are difficult to access in traditional markets yet have real demand, enabling them to issue and raise funds through on-chain mechanisms, thus unlocking institutional dividends and realizing value. While Believe may be a bubble, the path that ICM is attempting to open up may be the long-term evolution direction of on-chain finance.

"The 10 Types of 'Toxic VC' in the Crypto Circle, How Many Can You Recognize?"

This article humorously portrays 10 common types of cryptocurrency venture capital that appear to be supportive but are actually only focused on their own interests. For example, those who superficially emphasize "long-term holding" but sell off during market downturns, or those who reclaim investments through a "marketing company" and even force project teams to operate according to their demands. True investors should have technical capabilities, understand the project's vision, and provide value beyond capital.

"The Biggest Propeller of Bitcoin, BlackRock's Crypto Ambition"

BlackRock is leveraging on-chain layouts such as IBIT and BUIDL to quietly lead a restructuring of the financial order. Its Bitcoin spot ETF IBIT has seen inflows surpassing the gold giant GLD this year, symbolizing the formal beginning of Wall Street's takeover of the crypto narrative. The rise of tokenized asset fund BUIDL indicates that BlackRock is no longer content with just guiding fund flows but aims to build new on-chain financial infrastructure. From traditional assets to RWAs, from ETFs to blockchain standards, BlackRock, through the integration of liquidity, narrative power, and regulatory coordination, is laying out a "Wall Street on-chain" led by itself. It is not just participating in the crypto revolution but taking over and writing the rules of this revolution.

"Oracle Private Key Leak Loss Only 1.4 ETH, Is Lido's Security Mechanism 'Textbook-Level'?"

The Lido oracle hot wallet was hacked resulting in the theft of 1.46 ETH, but due to its design being used for operational purposes only, the impact was minimal. Lido's oracle architecture is highly decentralized, with 9 independent nodes requiring 5 to reach consensus to submit a report, and all reports needing on-chain validity checks to ensure that even if multiple nodes are compromised, catastrophic consequences are difficult to achieve. The oracle cannot control funds or contract upgrades; its responsibility is limited to status reporting and lightweight transaction operations. Even in the case of malicious behavior, the system's built-in delays and emergency mechanisms can still safeguard user rights. Lido is also advancing cutting-edge solutions such as zero-knowledge oracles to further enhance security and trustlessness. Overall, Lido's oracle system possesses good resilience against attacks and transparency, and the current incident will not pose a substantive threat to the protocol.

"Xiaofeng's Graduation Speech to Entrepreneurs: Crossing the Divide, Returning to the Origin"

Xiaofeng pointed out in his latest speech that blockchain has moved from the infrastructure stage to the eve of application explosion, with RWA, stablecoin payments, PayFi, and others becoming new hotspots. He emphasized that the real opportunity for change comes from deep integration of the cryptographic system with the real world and believes that AI and blockchain will together build the future global wealth distribution and governance system. He also called for the Ethereum Foundation to return to China to drive the rebuilding of the technical ecosystem. Finally, he proposed that the future financial revolution will be centered around tokenized US dollars, DeFi, and efficient settlement systems, redefining financial infrastructure and proactively building a trusted value collaboration mechanism for the AGI society.

"Which States in the U.S. Have Rejected the Bitcoin Reserve Bill?"

Several states in the U.S. have attempted to enact legislation to establish a Bitcoin reserve, but most have been rejected or put on hold. Proposals in states such as Florida, Oklahoma, South Dakota, and Pennsylvania were rejected, and Utah removed relevant content from the bill. Although the Governor of Arizona vetoed a Bitcoin investment proposal, another bill allowing for storage of airdrops and staked assets was passed. Currently, only New Hampshire and a few states like North Carolina and Texas are advancing related legislation. On the whole, the legitimacy of Bitcoin as a state-level asset reserve still faces significant policy resistance and controversy.

"Solana DeFi's Track Month Revenue Hits Yearly High? A Review of Major Projects' April Performance"

The DePIN track of the Solana ecosystem hit a new high in April, reaching $458,000 in revenue for the year, a 33% year-over-year increase, mainly driven by projects such as Helium, Render, Hivemapper, and XNET; although the overall number of active contributors has slightly decreased, small protocols like Nosana have seen rapid growth, with notable Roam node and user data, and breakthroughs in vertical areas such as GPU computing, bandwidth contribution, and aerial data by projects like Shaga, Grass, and Wingbits. This demonstrates the increasing diversification, high-frequency interaction, and application landing trends of the Solana DePIN ecosystem.

"Is SOL One of the Best Tokens for Long-Term Investment? Decrypting the Multi-Engine Value Explosion of the Solana Ecosystem"

Solana is experiencing its strongest development period ever, with significantly improved network stability, continued enhancement of decentralization, staking market cap surpassing Ethereum, heightened developer and user activity, and ranking high in on-chain TVL and stablecoin market cap. On the ecosystem side, DeFi is maturing, DePIN is rapidly rising, signals of consumer apps and institutional entry are frequent, the unique advantages of community culture and talent aggregation are evident, market structure is undergoing a shift, and the current price of SOL remains comparable to the 2021 bubble period, significantly undervalued against the backdrop of comprehensive fundamentals, presenting an extremely attractive long-term investment value.

"Miner Selling Pressure Hits Yearly Low: Three Major Support Factors for Bitcoin's 'Calm Rise Phase'"

Bitcoin miner sell pressure has dropped to a yearly low, indicating the market is in a strategic accumulation phase, with over 80% held by long-term holders, continuous decline in exchange reserves supporting the upward momentum of the market; simultaneously, positive signals from the US-China trade negotiations have boosted market sentiment, but unclear protocol details and structural contradictions still pose hidden risks; the current market is at a crossroads post Bitcoin halving, with derivatives leverage and policy variables potentially causing short-term fluctuations, yet continuous ETF inflows and improving miner behavior are long-term positives, and asset pricing is undergoing a new round of liquidity reassessment.

"Alliance DAO Podcast: What Is Most Important for Companies and Talent in the AI Era?"

The focus of the tech industry has shifted to AI and robotics, overshadowing the current innovation stagnation in the crypto industry; Imran and Qiao point out the increasing similarity between stablecoins and tokenization narratives, with trading platforms facing intensifying competition. Robinhood is entering the tokenization battlefield with a fintech posture, posing a threat to the startup ecosystem. At the same time, AI tools are rapidly improving coding efficiency, empowering small-scale entrepreneurs to pursue the tokenization monetization path. In fields such as education and healthcare, AI assistance is accelerating the replacement of entry-level positions. Children are building a new cognitive system through personalized learning and hands-on projects, shifting the future competitive focus towards agility and cross-disciplinary learning abilities.

"Qualified Investor System Coming? Analyzing the SEC Chairman's Crypto Blueprint"

SEC Chairman Paul Atkins emphasized the establishment of clear rules for crypto asset issuance, moving away from the "regulate-and-fine" regulatory approach and aiming to make the US the world's strongest compliant crypto market. He proposed an innovation disclosure system, supported compliant self-custody, and relaxed trading product restrictions, laying the foundation for a possible "Crypto Nasdaq" in the future. If these reforms are implemented, CEXs and projects will accelerate their migration to compliant platforms, institutional entry barriers will be lowered, token valuation logic will align with US stocks, retail participation in new projects may become more compliant, and meme projects and fringe activities will face greater challenges.

"Do You Really Know How to Use Uniswap V4's 'Hooks'?"

The core innovation of Uniswap V4 is the introduction of a "Hooks" mechanism, which can be better understood as a "plugin system" rather than a technical abstraction. Developers can use hooks to customize functions for liquidity pools, such as setting specific address permissions, dynamically adjusting fees based on market activity, or even changing the price curve. This mechanism not only enhances Uniswap's flexibility but also introduces a third category of "earning ecosystem positions" beyond LPs and traders — hook developers. Hooks like Flaunch have generated over a million dollars in revenue by directing fees to developer wallets and implementing a buyback mechanism, making Uniswap more like a modular financial Lego.

"Bridgewater Fund Founder Dalio: Debt Crisis and Investment Logic in the US-China Game"

The world is currently at a critical juncture where five key forces intersect: pressure on debt and the monetary system, domestic wealth differentiation and political polarization, imbalance in the international order, frequent natural disasters, and rapid technological development. The U.S. government faces high debt, deficits, and capital market pressure, compounded by the rise of internal populism and weakening rule of law, while globally there is a decline in multilateralism and escalating geopolitical conflicts. The Trump administration has achieved some short-term gains through its aggressive trade strategy, but whether it can effectively address these deep-rooted crises remains unknown. Against this backdrop, maintaining a rational perspective, focusing on long-term trends, and formulating a robust investment strategy are crucial.

"Case Study: College Student Seeking Part-Time Job Ends Up Becoming a Money Laundering Channel for the Dark Industry"

A mainland Chinese college student unwittingly became involved in a Southeast Asian criminal group's money laundering operation during the process of "purchasing on behalf" of USDT in Hong Kong, exposing the risk of the Hong Kong over-the-counter trading market (VAOTC being abused by industrialized crime: criminal organizations organize part-time "drivers" through the "card turn to U" model, using the anonymity of virtual assets to convert victims' funds into USDT and transfer them to a collateral platform for laundering. On-chain analysis shows that such operations have formed a highly specialized, clearly structured money laundering network. The incident also revealed the vulnerability of the Hong Kong crypto ecosystem under an incomplete regulatory system, prompting policy efforts to accelerate the OTC licensing system, requiring industry practitioners to enhance AML/KYC compliance construction, proactively embrace regulation to safeguard market's healthy development and block illicit fund channels.

"South Korea's Web3 Market Transformation: Can It Shed the 'Liquidity Export' Label in Q1 2025?"

In the first quarter of 2025, South Korea's Web3 market enters a crucial transformation period, shifting from a "liquidity export market" mainly dominated by retail speculation to an industry ecosystem supported by institutions and builders. The government announced a phased opening of corporate cryptocurrency trading accounts, laying a legal foundation for institutional market entry and diversified services. Although Web3 enterprises may not fully benefit from the new policy in the short term, foreign projects such as Avalanche, TON, Ripple, Solana, etc., have actively cultivated the local ecosystem, driving hackathons, builder support programs, and other activities, gradually transforming South Korea from a capital inflow destination to an innovation output destination, marking the industry's transition from investment-driven to long-term structured development.

"Arthur Hayes's 2028 Prophecy: Bitcoin Topping a Million, Altcoins Seeing Rivers of Blood"

The U.S. economy is similar to "obesity aesthetics," appearing prosperous on the surface but imbalanced within. While the food system is controlled by giants and obesity and metabolic diseases are being glamourized, the U.S. economy is also dominated by excessive credit and asset bubbles. The article criticizes the systemic issues of the Fed's money printing to maintain stability and points out that tariffs cannot cure trade deficits; capital controls may be a more effective rebalancing tool. If foreign capital holding U.S. assets is taxed, it can reduce the trade deficit and subsidize domestic voters, aligning with Trump-style political logic. With the advancement of capital controls and the withdrawal of foreign capital, the U.S. will restart money printing for stability, thereby boosting non-sovereign assets like gold and Bitcoin. It predicts that the price of Bitcoin will accelerate due to safe-haven demand and currency devaluation, becoming a "lifeboat" in the future global financial fission.

"Coinbase Monthly Outlook: Global Monetary System Transition, Bitcoin Enters Negotiation Table"

This article is compiled from Coinbase's latest monthly outlook research report. The report points out that as the U.S. "twin deficits" continue to expand, and trade protectionism intensifies, market confidence in the U.S. dollar is continuously weakening. The world may witness a large-scale asset portfolio rebalancing. In this context, Bitcoin, due to its sovereignty neutrality and immunity to capital controls, is increasingly seen by more countries as a potential supranational reserve asset. According to the report's conservative estimate, if Bitcoin is gradually integrated into the global reserve system, its total market value is expected to increase by approximately $1.2 trillion.

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