Biden campaign plans to hire meme manager to win support from young voters
According to The Washington Times, Biden's re-election campaign is hiring a "meme manager" to manage internet content and memes (including memes) as the team has difficulty attracting Generation Z voters. Job postings posted on Daybook show that this position will be responsible for the campaign's online content, including the production and management of memes. The Biden campaign has adopted the "Dark Brandon" meme, which originated from a mishearing incident at the Talladega Raceway in 2021 and was later used by the Biden team as a means of self-deprecation and attracting young people. Biden has used this meme on several occasions recently, including tweets released after the Super Bowl and a mocking video targeting former President Trump. Although Biden's approval rating among young voters is lower than Trump's, the team hopes to increase interaction with young voters through this new digital strategy. According to a CNN poll at the end of April, Trump's approval rating among voters aged 18 to 34 was 11 percentage points higher than Biden. Biden's response to the Israel-Hamas war and the TikTok ban have caused dissatisfaction among some young voters, which has also affected his approval rating.
US House of Representatives votes to pass crypto bill FIT21
According to CoinDesk, the U.S. House of Representatives passed the 21st Century Financial Innovation and Technology Act (FIT21) by 279 votes to 136. 71 Democrats and 208 Republicans voted in favor, while 3 Republicans and 133 Democrats voted against. The passage of the bill marks the most important legislative achievement of the crypto industry in Congress, after which the bill will be submitted to the Senate for a vote. The FIT21 bill, mainly driven by House Republicans, will establish a regulatory system for the U.S. crypto market, set up consumer protection, establish the Commodity Futures Trading Commission (CFTC) as the main regulator of digital assets and the regulator of non-securities spot markets, and will more clearly define the standards that make crypto tokens securities or commodities.
According to Cailianshe, at 2 a.m. Beijing time on Thursday, the Federal Reserve released the minutes of its policy meeting from April 30 to May 1 as scheduled. As expected by the market, Fed officials emphasized that based on disappointing inflation data, the policy interest rate needs to be maintained at the current level for a longer period than previously expected.
In the resolution released on May 1, the Federal Reserve's Monetary Policy Committee maintained the benchmark interest rate at 5.25%-5.50% for the sixth consecutive time. At the same time, it was announced that starting from June, the rate of reduction of Treasury bond holdings would be reduced from US$60 billion per month to US$25 billion. Influenced by this news and the fact that Goldman Sachs CEO Solomon publicly stated shortly before the release of the minutes that he predicted that "the Federal Reserve will not cut interest rates this year", the three major US stock indexes continued to decline after 2 o'clock. However, considering that the Federal Reserve's "lack of confidence" has long been a household name, the overall decline in the market was quite restrained.
The minutes of the meeting said that the members attending the meeting believed that compared with the continued slowdown in inflation last year, there was a lack of progress in recent months in inflation falling further towards the 2% target. Although some members tried to use "unusually large seasonal distortions to cause the January data to rise" or "some items with long-term price fluctuations to push up inflation", some members pointed out that "price increases are broad-based and you should not ignore them too much." After a series of discussions, the members came to the most important conclusion of the entire report: interest rate cuts may have to wait. Participants pointed out that they continue to expect inflation to return to 2% in the medium term, but recent data has not increased their confidence in the decline in inflation. Therefore, the process of reducing inflation may take longer than previously expected. There are even "several participants" who said that if the risk of further rising inflation manifests itself in some form, they are willing to tighten policy further. All officials agreed that it would not be appropriate to cut interest rates until they have greater confidence that inflation has fallen to 2%.
Eric Balchunas, Bloomberg ETF analyst, said on the X platform: “My most optimistic guess is that we will hear from the SEC (about the spot Ethereum ETF) around 4 p.m. New Jersey time tomorrow (4 a.m. Friday Beijing time).”
Earlier news, a Fox reporter said that the SEC may approve the 19b-4 document tomorrow and then cooperate with the issuer on the S-1 in the next few weeks or months.
According to CoinDesk, the UK will hold an early general election on July 4, and the Conservative Party, which supports cryptocurrencies, may lose. The Conservative Party is committed to making the UK a cryptocurrency center and promoting legislation to recognize digital assets as regulated financial services. In March of this year, British Prime Minister Sunak received members of the cryptocurrency community at 10 Downing Street and reiterated the cryptocurrency legislation plan. According to the latest polls, the opposition Labour Party is most likely to win the general election. The Labour Party has not yet expressed its position on crypto legislation, but the party hopes to make the UK a tokenization center and supports the Bank of England's digital pound plan.
According to Bloomberg, News Corp, the parent company of the Wall Street Journal, announced an agreement with OpenAI, allowing OpenAI to use the content of more than a dozen publications under News Corp in its products. As part of the agreement, OpenAI's services will be able to display news from media such as The Wall Street Journal, Barron's, and MarketWatch. According to the Wall Street Journal, citing people familiar with the matter, the agreement is for a period of 5 years and the total value may exceed US$250 million. In addition, OpenAI has reached cooperation with several well-known media companies in the United States and Europe in recent weeks, including the Financial Times, Dotdash Meredith and social media company Reddit.
NEAR Foundation has established an AI R&D lab to focus on developing AI developer tools
Illia Polosukhin, co-founder of the public chain project NEAR Protocol, tweeted that NEAR will focus on building a user-owned AI ecosystem and is committed to optimizing user privacy and sovereignty. The NEAR Foundation is committed to incubating and investing in NEAR-based AI infrastructure projects, including computing and reasoning, data curation and creator rewards, crowdsourcing and synthetic data markets, and smart infrastructure.
The NEAR Foundation has established the @near_ai AI R&D lab, led by Alex Skidanov and Illia Polosukhin, which focuses on developing AI developer tools that allow anyone to build end-to-end Web3 applications without writing code. Illia said that NEAR is the best platform for building and incubating the next generation of AI projects. As a non-profit organization with abundant resources, the NEAR Foundation has strong expertise in the fields of AI and Web3, and is capable of promoting the user-owned AI movement, providing alternatives to closed, centralized players, and achieving global success.
According to DL News, Consensys CEO Joe Lubin said that Consensys hopes to use crypto-native methods to attract public investment, and the company is looking for acquisition opportunities. When asked about "Consensys's listing plan", Lubin said, "We have been talking about this for a long time. In our ecosystem, there are different ways to go public. You can launch a protocol, you can tokenize the protocol, and you can externalize the project. If we go public in some form, we always tend to use our own technology.
Lubin was tight-lipped about which approach specifically would be used, but he did say ConsenSys might spin off MetaMask or other divisions, such as toolkit developer Infura or Layer2 network Linea. Lubin hinted that ConsenSys has a number of projects in the pipeline. He said ConsenSys is working with auditing firm KPMG but declined to provide details.
However, he was clear that ConsenSys will choose blockchain as a way to go public, rather than listing on Nasdaq or other stock exchanges. Lubin said: "If we go public in some form, we always prefer to use our own technology to do something. This does not mean that we want to abandon the US capital markets, because the US capital markets are deep and liquid. But there may be some ways to go public using our own technology and still use it."
The Fantom Foundation announced that the community has voted to approve its first proposal for the upcoming Sonic chain with a 99% approval rate. FTM will be compatible with Sonic's new token S and will be exchanged 1:1 when it is released. The proposal states that Sonic will be a brand new L1 chain and will be bridged to chains such as Ethereum through native L2 cross-chain. According to the results of the first governance vote, FTM holders will be able to migrate to Sonic's native token S at a 1:1 ratio at the time of Sonic's genesis. Using the new bridge architecture, Sonic will provide users and DApp developers with performance superior to the existing Opera network. Fantom Operations Ltd promises to continue to provide validator support for Opera, and Sonic Operations Ltd provides support for Sonic. The Fantom Foundation will also allocate hundreds of millions of dollars in FTM from the treasury to support the development of the Sonic ecosystem, including marketing, business development, and migration grants. The governance forum shows that community members have initiated a series of governance proposals on the Sonic network, and are currently soliciting community feedback on proposed changes, plans, and initiatives. The proposals to be proposed include: FTM to S compatibility, S token airdrop plan, Sonic growth plan, and validator rewards.
According to official news, Ethereum Layer2 project Taiko announced the TKO token economic model, and the total supply of TKO tokens is 1 billion. The distribution ratio is as follows: DAO Teasury accounts for 20%, Guardian Prover Bonds accounts for 2%, Grants & RetroPGF accounts for 5%, Trailblazer airdrop accounts for 10%, Protocol Guild airdrop accounts for 1%, Genesis airdrop accounts for up to 5%, Liquidity and market making accounts for 5%, Investors account for 11.62%, Taiko Labs/Core Team accounts for 20%, Taiko Foundation reserves account for 16.88%, and Taiko official Prover Bonds account for 1.5%.
To qualify for the airdrop, you must make block proposals, block attestations, interact with the testnet, participate in Galxe events, make Github contributions on eligible repositories, and be an Ethereum ICO participant who trades on the mainnet between 2022-02-01 and 2024-02-01. The TKO Genesis airdrop will be available on the Taiko mainnet L2. Once users claim their TKO, they will receive the tokens on-chain immediately. The airdrop tokens are not locked and there is no vesting period. Loopring users need to contact the Loopring community to check eligibility, and Loopring will be responsible for distribution to eligible wallets. Unclaimed tokens will be sent back to the DAO treasury.
Earlier today, it was reported that Taiko's TKO token airdrop qualification inquiry page has been launched.
BlackRock Files Amended Form 19b-4 Excluding Pledge Functionality
According to The Block Pro, BlackRock has submitted a revised 19b-4 form to Nasdaq, planning to launch a spot Ethereum ETF, but will exclude the staking function.
Bitwise has filed an amended Form 19b-4
According to The Block Pro, Bitwise has filed an amended Form 19b-4 to launch an Ethereum ETF on the New York Stock Exchange (NYSE).
Market News: Binance's emergency license revocation decision by Florida was overturned
According to Bloomberg Terminal, Binance's decision to urgently revoke its license in Florida was overturned.
Stargate V2 will be launched on May 28
Stargate announced on Twitter that it will launch version V2 on May 28. According to previous news, the Stargate V2 proposal has been voted through by the community and will introduce transaction batching and dynamic credit allocation to improve cross-chain efficiency and reduce cross-chain costs.
Insider: MetaMask is integrating native Bitcoin
According to CoinDesk, the cryptocurrency wallet MetaMask is integrating native Bitcoin (BTC). One person familiar with the matter said that access may be implemented within the next month, while another person said that the exact functionality of Bitcoin has not yet been determined, but the functionality may be limited at first and expanded over time.
According to The Paper, Nvidia's latest first quarter financial report for fiscal year 2025 ending April 28 showed that revenue during the period was $26.044 billion, up 262% year-on-year, far higher than the market's expectation of $24.7 billion; net profit was $14.881 billion, up 628% year-on-year, higher than the expected $12.9 billion; non-GAAP diluted earnings per share were $5.98, up 629% year-on-year, higher than the expected $5.19. At the same time, the company provided guidance for the next quarter's performance, predicting that sales in the second quarter of fiscal year 2025 will reach $28 billion, up or down 2%, higher than the market's expectation of $26.6 billion. Nvidia also announced that it will pay a quarterly dividend, with the dividend per share rising from 4 cents in the previous quarter to 10 cents. In addition, Nvidia announced a 1-for-10 stock split plan. After the close of June 7, shareholders holding Nvidia common stock will receive an additional nine shares and begin trading on a split-adjusted basis from June 10. In the first fiscal quarter, Nvidia repurchased a total of $7.7 billion worth of shares and paid $98 million in dividends. Nvidia CEO Jensen Huang said: "The next industrial revolution has begun - companies and countries are working with Nvidia to shift trillions of dollars worth of traditional data centers to accelerated computing and build a new type of data center - AI factory to produce new commodities such as AI. AI will bring significant productivity improvements to almost all industries, helping companies expand revenue opportunities while improving cost and energy efficiency. We are at the starting point of the next wave of growth."
Interoperability protocol Stripchain completes $10 million financing, led by Sora Ventures
According to Cointelegraph, Stripchain raised $10 million in its latest round of financing, aiming to simplify the blockchain user experience. This round of financing was led by Sora Ventures, and participants included Hyperithm, Shima Capital, Hypersphere, Mechanism and Ascending Assets, as well as angel investors Santiago Santos, Stephane Gosselin of Frontier Research, Ryan Selkis of Messari, etc. This financing will promote Stripchain to achieve its goal of promoting the widespread application of Web3 by improving user experience and interoperability. Stripchain is an interoperability protocol that aims to achieve large-scale chain abstraction, so that users do not need to pay attention to the underlying blockchain system when using decentralized applications. The protocol is led by the pseudonymous researcher "0xnovachrono" and Isa Sertkaya and Narayana Pryusty. Stripchain is based on a system called stripVM, which allows applications to communicate and coordinate between different protocols, focusing on the transaction layer and the use of authorization proof system. Stripchain is currently in the private beta stage and is expected to launch a test network in the next few months.
According to Fortune, WeatherXM, a crypto-driven weather station network and weather data provider headquartered in Athens, Greece, raised $7.7 million in Series A financing. This round of financing was led by Lightspeed Faction, and participants included Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, and Red Beard Ventures. WeatherXM plans to use the funds to expand its global weather station network, enhance data collection and analysis capabilities, and provide users with more accurate and real-time weather information. It was reported in 2022 that Web3 weather network WeatherXM completed a $5 million seed round of financing, led by Placeholder VC.
Data: Grayscale GBTC net outflow of $16 million on May 22
According to HODL15Capital monitoring, on May 22, Grayscale GBTC had a net outflow of US$16 million, Ark ARKB had a net inflow of US$4 million, and Bitwise BITB had no inflow/outflow of funds.
15.246 billion FLOKI tokens have been destroyed, and the token price has fallen by 5.63% in 24 hours
FLOKI said on the X platform at around 3 a.m. that after a decisive vote, 15.246 billion FLOKI tokens have been destroyed today. The market shows that the price of FLOKI tokens is currently $0.00022453, a 24-hour drop of 5.63%.
Ethereum co-founder Jeffrey Wilcke deposited 10,000 ETH, equivalent to $37.38 million, into Kraken
According to Spot On Chain, Ethereum co-founder Jeffrey Wilcke deposited 10,000 ETH (about $37.38 million) to Kraken at an average price of $3,738 about 2 hours ago. Since the beginning of 2024, he has deposited 24,300 ETH to Kraken at an average price of about $3,108 (a total of $75.52 million), and the last deposit was completed before the price began to soar. Currently, Jeffrey Wilcke still holds 126,000 ETH (US$473 million).
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