Crypto Morning Brief: Trump says he won't remove Powell before term ends, OKX DEX has now restored trading functionality
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Crypto Morning Brief: Trump says he won't remove Powell before term ends, OKX DEX has now restored trading functionality
Binance Wallet will launch an exclusive MYX Finance TGE subscription event.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump says willing to lower tariffs on China at appropriate time; China responds that talks require sincerity
According to Fortune, U.S. President Trump stated that due to the current high tariffs between the U.S. and China, which have nearly halted trade between the two countries, he is willing to reduce tariffs on Chinese goods at some point. Currently, the U.S. imposes tariffs as high as 145% on Chinese imports, while China retaliates with 125% tariffs on American goods. On NBC’s “Meet the Press with Kristen Welker,” Trump described recent statements from China as "positive," but emphasized that any agreement between the two nations must be "fair." China’s Ministry of Commerce said last Friday it is assessing the possibility of trade negotiations with the U.S., marking the first signal of talks since Trump announced new tariffs last month.
Trump: Will not consider removing Fed Chair Powell before his term ends
According to Jinshi Data citing NBC News, U.S. President Trump said he will not consider removing Federal Reserve Chair Powell before his term ends in 2026.
Buffett: Something may happen in the U.S. that makes us want to hold large amounts of other currencies
According to Jinshi Data, Buffett said America’s fiscal policy is his biggest concern, and something may happen in the U.S. that makes us want to hold large amounts of other currencies.
U.S. SEC delays LTC ETF decision, launches public comment period
According to former Fox Business journalist Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision on Canary Funds’ Litecoin (LTC) ETF application and has opened a public comment period. The review will primarily focus on whether the ETF proposal meets regulatory requirements for preventing fraud and market manipulation. Public comments are due by May 26, 2025, and rebuttal comments by June 9, 2025.
Bitcoin mining difficulty drops 3.34% to 119.12T
According to CloverPool data, the Bitcoin network completed its latest difficulty adjustment at 05:00:13 on May 4, 2025 (block height 895,104), decreasing the difficulty by 3.34% to 119.12 T.
The current average network hash rate stands at 885.45 EH/s, with the next difficulty adjustment expected in approximately 13 days and 3 hours.
Binance announces 69th Launchpool project Space and Time (SXT), supporting BNB, FDUSD, and USDC staking
According to an official Binance announcement, Microsoft-backed blockchain project Space and Time (SXT) will become Binance Launchpool’s 69th project. Users can begin staking BNB, FDUSD, and USDC for a two-day mining event starting at 00:00 UTC on May 6.
The total reward pool for this Launchpool event is 125,000,000 SXT, representing 2.5% of the total token supply. Rewards are allocated as follows: 85% for the BNB pool, 5% for the FDUSD pool, and 10% for the USDC pool. SXT will be listed on Binance at 13:00 UTC on May 8, with trading pairs SXT/USDT, SXT/USDC, SXT/BNB, SXT/FDUSD, and SXT/TRY.
SXT has a total token supply of 5 billion, with an initial circulating supply of 1.4 billion (28%).
Binance Wallet to launch exclusive MYX Finance TGE subscription event
According to an official Binance announcement, Binance Wallet will host its 15th exclusive TGE subscription event for MYX Finance ($MYX) from 4 PM to 6 PM UTC+8 on May 6.
Detailed eligibility criteria will be announced prior to the start of the subscription. Additionally, the project team will allocate an extra 40 million MYX tokens for future marketing campaigns, with further details to be released later.
Users with Binance Alpha Points of at least 137 will receive 291 BOOP rewards
Users with Binance Alpha Points of at least 137 will receive 291 BOOP tokens. Additionally, users with Alpha Points between 99 and 136 (inclusive) whose Binance UID ends in "4" will also receive 291 BOOP tokens.
Binance Alpha Points is a scoring system used to evaluate user activity within the Binance Alpha and Binance Wallet ecosystem. To earn 9–10 daily points, users must complete at least $512 in trading volume per day and hold no less than $100 in assets on the Binance platform. Airdrop eligibility is subject to regional restrictions.
OKX DEX completes upgrade, trading functionality now restored
According to an official announcement, OKX DEX has completed a comprehensive upgrade today, and all services are now officially restored. The upgrade focused on strengthening the blacklist database, risk detection, and proactive risk control systems to effectively block malicious activities and safeguard user assets. Meanwhile, OKX Wallet has introduced a new all-in-one trading service, enhancing market discovery and empowering users to identify more trading opportunities and make better trading decisions, significantly improving on-chain trading efficiency and experience.
As a leading all-in-one Web3 gateway, OKX Wallet currently supports over 130 major public chains. OKX DEX aggregates more than 25 cross-chain networks, 40 public chains, 400+ DEXs, and over 300,000 tokens, featuring tools such as Meme mode, limit orders, KYT detection, and MEV protection, aiming to provide users with a trusted and efficient on-chain trading platform.
Musk changes X username to “groklon rust”
Grok launched a voice mode, and to align with the update, Musk changed his X username to “groklon rust” and updated his profile picture accordingly.
Guangdong Golden Key Group collapses, reporting nearly 70 million yuan in cryptocurrency investment losses
According to Economic Observer, Lin Chunhao, chairman of Guangdong Golden Key Holding Group, admitted the company has gone bankrupt, with total losses from cryptocurrency investments reaching 68.98 million RMB.
In a letter to investors, Lin stated that approximately 1.339 billion RMB raised from clients has been entirely lost, including failures in lending, stocks, and bills investments beyond cryptocurrency. The case has been filed by the Futian Branch of Shenzhen Public Security Bureau’s Economic Crime Investigation Detachment. The company previously attracted customers with high interest rates, promising annual returns as high as 9%.
Market Overview
Suggested Reading
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This article discusses how the rapid advancement of AI technology has triggered a global wave of unemployment, with AI replacing human roles across multiple industries, leading to profound shifts in the job market—especially severe for U.S. college graduates.
In-Depth Dialogue: Crypto VC Under Life-or-Death Test—Exit or Breakthrough?
This article explores the current state and future direction of the crypto industry, particularly focusing on the evolving role, challenges, and opportunities for crypto VCs amid industry cycles. It also analyzes the impact of Trump’s policies on the crypto market and identifies current mismatches in the industry along with potential solutions.
This article introduces Monero, one of the most well-known privacy coins, which recently saw a sharp price surge due to inflows of stolen funds. Monero stands out for its anonymity and untraceability in privacy protection but has consequently become a preferred tool for criminal activities. Despite associations with crime, its development team maintains a stance of technological neutrality, emphasizing its original intent to protect ordinary users’ privacy. Technical upgrades and ecosystem growth have also provided new momentum for Monero’s expansion.
Looking Back at Alpaca: When Bad News Becomes a Temporary Wealth Code
This article examines the volatile events surrounding the $ALPACA token in the cryptocurrency market, analyzing its dramatic price swings and market dynamics following Binance’s delisting announcement. Although delisting is typically seen as negative, $ALPACA experienced an unusual surge followed by a steep decline, revealing the complexity of market manipulation and psychological博弈. The article highlights how traditional notions of bullish and bearish factors are being disrupted, with aggressive manipulation and extreme price volatility becoming new attention-grabbing tactics, exposing retail investors’ vulnerability in such environments.
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