Crypto Morning Briefing: Trump says he will impose tariffs on countries that tax America, Virtuals Protocol launches $VIRTUAL staking feature
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Crypto Morning Briefing: Trump says he will impose tariffs on countries that tax America, Virtuals Protocol launches $VIRTUAL staking feature
eToro listed on Nasdaq at $52 per share with a valuation of $4.2 billion.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. April Unadjusted CPI YoY at 2.3%, Expected 2.40%
According to Jin10 News, the U.S. April unadjusted CPI year-on-year rate was 2.3%, compared to an expected 2.40% and a previous value of 2.40%.
The U.S. April seasonally adjusted CPI month-on-month rate was 0.2%, versus an expected 0.30% and a prior -0.1%.
The U.S. April unadjusted core CPI year-on-year rate was 2.8%, matching expectations and the previous reading of 2.8%.
The U.S. April seasonally adjusted core CPI month-on-month rate was 0.2%, below the expected 0.30% and prior 0.10%.
President Trump: Will Impose Tariffs on Countries Taxing America
According to Jin10 News, U.S. President Trump stated he will impose tariffs on countries that tax American goods, adding that Congress is about to pass the largest tax reduction bill in history. The tax relief legislation is "progressing smoothly" through Congress and will serve as a rocket to propel the U.S. economy forward. The stock market will rise significantly.
Trump Secures $600 Billion Investment Pledge from Saudi Arabia
According to Jin10 News, U.S. President Trump secured a $600 billion investment pledge from Saudi Arabia on Tuesday, signing agreements in Riyadh covering energy, defense, mining, and other sectors. According to a White House briefing, the U.S. agreed to sell nearly $142 billion worth of weapons to Saudi Arabia, described as the "largest defense cooperation agreement" ever reached by Washington. The deal includes transactions with over ten U.S. defense companies in areas such as air and missile defense, air force and space development, maritime security, and communications.
Believe Platform’s Native Token LAUNCHCOIN Market Cap Surpasses $100 Million
According to GMGN data, Believe platform's native token LAUNCHCOIN has surpassed a $100 million market cap, currently trading at $0.104 with a 24-hour gain of 480%. The token underwent a rebranding from $PASTERNAK to align with the platform's evolution.
Binance Wallet Launches Privasea AI (PRAI) TGE Event
Officially announced, Binance Wallet has launched the Privasea AI (PRAI) TGE event. Subscription period: 6 PM to 8 PM on May 14, 2025 (UTC+8). Eligibility: Starting from this TGE, qualified users must use Binance Alpha points to participate.
Binance Alpha Points at 205 Required for Redacted (RDAC) Airdrop
According to the official page, users with 205 or more Binance Alpha points are eligible for the Redacted (RDAC) airdrop, which will deduct 15 points. Users holding between 170 (inclusive) and 204 (inclusive) Alpha points whose Binance account UID ends in the digit 7 can also claim a lucky airdrop of 482 $RDAC tokens starting at 6:00 PM on May 13, 2025 (UTC+8) via the Alpha event page.
Virtuals Protocol Launches $VIRTUAL Staking, Simply Holding $VIRTUAL No Longer Earns Points
As announced by Virtuals Protocol on X, $VIRTUAL staking is now live. By locking $VIRTUAL, users receive veVIRTUAL—a vote-locked version of the token representing long-term commitment, deeper protocol engagement, and future governance rights.
Starting today, 20% of Virgen points will be allocated to veVIRTUAL holders, replacing the previous system where simply holding $VIRTUAL granted points. Additionally, veVIRTUAL holders qualify for the genesis airdrop, and veVIRTUAL will serve as the basis for voting power.
How it works:
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Stake $VIRTUAL to obtain veVIRTUAL
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The amount of veVIRTUAL depends on the locked amount and duration (up to 2 years)
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veVIRTUAL decays linearly over time until unlocked
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Enabling auto-max lock yields the maximum multiplier (1:1) for up to 2 years
Virtuals Protocol also stated: "Users who stake within 24 hours of this post will be eligible for a major surprise to be revealed tomorrow."
Native USDC Officially Launches on Sonic Chain, Supporting CCTP V2 Cross-chain Functionality
Officially announced, native USDC has launched on the Sonic blockchain, replacing the previous bridged version, with no manual action required for users. This upgrade introduces CCTP V2, enabling near-instant USDC cross-chain transfers and supporting automated execution. Institutional users can directly mint or redeem USDC at a 1:1 ratio via Circle Mint. Initial supporters include Aave, Binance, and RedotPay. USDC is now natively supported across 20 blockchains.
Xiao Feng: Ethereum Foundation Should Not Stay Away From China
According to the Wanwudao ThreeDAO official account, Wanxiang Blockchain founder Xiao Feng suggested during a private conversation with Vitalik that the Ethereum Foundation establish an office in Hong Kong.
Xiao Feng pointed out that blockchain developers are primarily concentrated in English- and Chinese-speaking regions, and losing the Chinese market means losing critical global developer resources. Vitalik noted that the Ethereum Foundation's team in Berlin mainly focuses on foundational technology work, but the core Ethereum tech has matured and only requires optimization now.
Xiao Feng emphasized that China's technical departments, government institutions, and developer communities hold respect for Ethereum technology, and urged the Foundation not to distance itself from the Chinese market.
DeFi Development Corp Accumulates 172,670 SOL, Total Holdings Reach 595,988 SOL
According to Bitcoin.com, publicly traded company DeFi Development Corp purchased 172,670 SOL at an average price of $136.81, totaling approximately $23.6 million. This marks the company's largest single SOL acquisition to date and its tenth digital asset purchase under its reserve strategy.
Following this transaction, DeFi Development Corp’s total SOL holdings (including staking rewards) reach 595,988 SOL, valued at approximately $102.7 million.
eToro Lists on Nasdaq at $52 Per Share, Valuation Reaches $4.2 Billion
According to Coindesk, cryptocurrency and stock trading platform eToro (ticker: ETOR) officially listed on the Nasdaq Exchange Tuesday evening. The company issued 6 million shares at $52 per share, raising about $310 million, achieving a valuation of $4.2 billion. The final pricing was notably higher than the previously expected range.
Reports indicate that eToro became the first company to complete its IPO during a period when market conditions were affected by U.S. President Trump's tariff negotiations. Previously, several companies including eToro had postponed their listing plans.
Market Overview
Suggested Reading
Former SEC Enforcement Expert’s Paper Draws 200K Views—Is Crypto Nearing Mainstream Breakthrough?
This article discusses a paper published by former SEC enforcement expert TuongVy Le, exploring the potential applications of crypto technology in traditional capital markets. It notes that while crypto faces certain challenges, it offers significant advantages in improving market efficiency and reducing intermediaries. The paper has drawn widespread attention, especially from both the crypto community and traditional financial professionals.
Alpha Opportunities Still Exist: A Beginner’s Guide to DePIN Investment Logic
This article examines the investment rationale behind Decentralized Physical Infrastructure Networks (DePIN) and their future potential. By analyzing DePIN applications in telecom and AI data fields, it illustrates how DePIN can reduce costs and improve efficiency through decentralization, potentially replacing traditional infrastructure. The article also covers hardware requirements, token economics, and challenges facing DePIN projects.
Xiao Feng’s Graduation Speech for Entrepreneurs: Crossing the Chasm, Returning to Origins
This article explores the development trends in the blockchain industry, emphasizing the importance of transitioning from the infrastructure phase to the application phase. It also discusses the convergence of decentralized finance (DeFi) with centralized finance (CeFi), and the deep integration of blockchain with artificial intelligence (AI) in shaping future wealth distribution.
To Gain Just 0.07 Milliseconds, Jump Trading Spent $14 Million—Was It Worth It?
This article delves into the "speed wars" in high-frequency trading, particularly Jump Trading’s massive investments aimed at gaining microsecond-level speed advantages. It details how high-frequency traders use technological methods to shorten transaction times for market edge, discussing the use of microwave, fiber optic, and laser technologies in this domain.
This article examines the perception gap regarding cryptocurrencies between small towns and big cities in China. Residents in smaller towns often associate Bitcoin and other digital currencies with fraud and high risk, whereas in larger cities, these technologies are seen as symbols of innovation and the future. The article attributes this perception gap to limited technical understanding, restricted information dissemination, and a lack of trust foundations.
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