Crypto Morning News: Senior Chinese and U.S. economic and trade officials reach major consensus, Ethereum tops Douyin trending chart
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Crypto Morning News: Senior Chinese and U.S. economic and trade officials reach major consensus, Ethereum tops Douyin trending chart
The U.S. SEC Chair will deliver a keynote speech on asset tokenization on the 12th of this month.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
China's Press Conference: Substantial Progress Achieved in China-U.S. Economic and Trade High-Level Talks, Important Consensus Reached
According to CCTV News, China and the U.S. held high-level economic and trade talks in Geneva, Switzerland on May 10–11. The Chinese delegation stated at a press conference that both sides had in-depth discussions on economic and trade issues of mutual concern. The talks were candid, deep, and constructive, achieving substantial progress and reaching important consensus. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism, designate lead officials, and conduct further consultations on respective concerns. China and the U.S. will finalize relevant details as soon as possible and issue a joint statement on the outcomes of the talks on May 12.
U.S. SEC Chair to Deliver Keynote Speech on Asset Tokenization on May 12
According to official announcements, the U.S. SEC will host a roundtable event on May 12 titled "Tokenization: Moving Assets Onchain: Where TradFi and DeFi Meet," where SEC Chair Paul Atkins will deliver a keynote speech on asset tokenization.
U.S. Securities and Exchange Commission attendees include: Chair Paul S. Atkins, Director of the Office of Crypto Assets Richard B. Gabbert, Commissioner Hester Peirce, among others. Other participants include: Cynthia Lo Bessette (Fidelity), Eun Ah Choi (Nasdaq), Will Geyer (Invesco), among others.
Trump Responds to Allegations of Profiting from Cryptocurrency, Accuses Pelosi of Using Inside Information
According to unusual_whales, when asked by reporters whether he profited from cryptocurrency, Trump responded: "I haven't even paid attention. If I own stock in a company and I'm doing well, and the market goes up, I suppose I’m benefiting. But the ones who really profit are people like Pelosi who use inside information."
BTC Market Cap Now Approximately Twice That of China’s Four Major Banks, Reaches $2.05 Trillion
According to CoinMarketCap data, Bitcoin’s current market cap has reached $2.05 trillion, rising 3.61% over the past day. This is approximately twice the combined market cap of China’s four major banks.
According to the latest market data, the total market cap of China’s four major banks is currently around $1.035 trillion. (Industrial and Commercial Bank of China: $341.76 billion; China Construction Bank: $217.6 billion; Agricultural Bank of China: $262.4 billion; Bank of China: $213.76 billion)
Solana Name Service sns.sol Announces Airdrop Claiming to Open on May 13
Solana Name Service sns.sol (formerly Bonfida) announced on X that SNS airdrop claiming will begin on May 13. The SNS token airdrop allocation checker is now live. The total airdrop supply is 2 billion SNS tokens, with a 90-day claim window. Only eligible wallets can claim. The claiming period will officially close on August 11, after which unclaimed tokens will be returned to support ecosystem development.
Boop.fun: Will End Airdrop Program Early, New Incentive System Launching Within 1–2 Weeks
According to Boop.fun founder dingaling, the team identified clear flaws in the airdrop incentive design and has decided to end the current airdrop program early. A new incentive system will launch within 1–2 weeks, aimed at supporting more meaningful project launches.
GMGN Co-founder: Users Experience Losses When Trading DOOD on BSC Under Certain Conditions, Fixing and Will Compensate
GMGN co-founder Haze stated on X that user feedback revealed an issue causing losses when trading DOOD tokens on BSC under certain specific transaction scenarios. The team is currently fixing this issue. After the fix, affected users’ losses will be calculated and fully reimbursed, with compensation sent directly to the GMGN wallet used for trading.
"Ethereum Surges 40% in 3 Days" Tops Douyin Trending Chart
According to Douyin’s trending page, “Up 40% in 3 Days—What Happened to Ethereum?” has topped the Douyin trending chart.
Michael Saylor Posts Bitcoin Tracker Update Again, Likely to Continue Accumulating BTC
Strategy founder Michael Saylor has once again posted Bitcoin Tracker-related information, stating: "Connect the dots."
Based on previous patterns, Strategy typically discloses its Bitcoin accumulation activity the day after such messages are posted.
CITIC Guoan International: Officially Enters Tokenized Securities Business
CITIC Guoan International announced that, in accordance with the Hong Kong Securities and Futures Commission’s (SFC) “Circular to Intermediaries on Activities Relating to Tokenized Securities,” it has submitted business plans for “Distribution of Tokenized Securities” and “Digital Bond Issuance,” both of which have been confirmed by regulators as having no further issues.
The company noted that on January 21, 2025, CITIC Guoan International submitted a wealth management-related business plan to the SFC, proposing to distribute tokenized securities or provide advice on them to clients in addition to traditional securities trading. The planned scope of tokenized securities includes structured products linked to various underlying assets (e.g., structured notes, OTC derivatives), SFC-authorized funds, non-authorized funds, and bonds. The SFC issued a confirmation email on May 7, 2025, indicating no further issues with the plan.
Additionally, building on its existing bond issuance business, CITIC Guoan International submitted a digital bond issuance business plan to the SFC. Going forward, the company aims to serve as overall coordinator, syndicate capital markets intermediary, or settlement agent in digital bond issuance projects. The SFC confirmed on April 2, 2025, that there are no further issues with this plan.
This Week, Tokens Including WBT, APT, ARB, STRK Face Large Unlock Events, Total Value Exceeding $1.5 Billion
Data from Token Unlocks shows that multiple tokens including WBT, APT, STRK, and MELANIA will undergo large unlock events this week, totaling over $1.5 billion. Specifically:
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WBT will unlock 39.5 million tokens on May 13, worth approximately $1.19 billion, accounting for 27.41% of circulating supply;
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FTN will unlock 20 million tokens on May 18, worth approximately $874 million, accounting for 4.66% of circulating supply;
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APT will unlock 11.31 million tokens on May 12, worth approximately $667.3 million, accounting for 1.82% of circulating supply;
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ARB will unlock 92.65 million tokens on May 16, worth approximately $421.7 million, accounting for 1.95% of circulating supply;
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AVAX will unlock 1.67 million tokens on May 17, worth approximately $410.4 million, accounting for 0.40% of circulating supply;
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STRK will unlock 127 million tokens on May 15, worth approximately $227.7 million, accounting for 4.09% of circulating supply;
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IMX will unlock 24.52 million tokens on May 16, worth approximately $176.3 million, accounting for 1.35% of circulating supply;
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SEI will unlock 55.56 million tokens on May 15, worth approximately $142.8 million, accounting for 1.09% of circulating supply;
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APE will unlock 15.6 million tokens on May 17, worth approximately $102.6 million, accounting for 1.95% of circulating supply;
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MELANIA will unlock 26.25 million tokens on May 18, worth approximately $100.9 million, accounting for 6.63% of circulating supply;
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BB will unlock 42.89 million tokens on May 13, worth approximately $7.29 million, accounting for 10.47% of circulating supply;
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CYBER will unlock 886,100 tokens on May 15, worth approximately $1.43 million, accounting for 3.81% of circulating supply.
Market Updates
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