Crypto Morning Report: Believe to pause showcasing new projects, CoinMarketCap officially launches launch platform CMC Launch
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Crypto Morning Report: Believe to pause showcasing new projects, CoinMarketCap officially launches launch platform CMC Launch
Coinbase suffers data breach, refuses ransom payment and offers $20 million reward for information leading to the culprit.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. April PPI annual rate at 2.4%, weekly initial jobless claims at 229,000
According to Jin10 News, the U.S. April PPI year-on-year rate was 2.4%, compared to a previous value of 2.7% and an expected 2.5%. The U.S. April PPI month-on-month rate was -0.5%, versus a prior -0.4% and an expected 0.2%.
The number of initial jobless claims in the U.S. for the week ending May 10 was 229,000, compared to a previous value of 228,000.
JPMorgan: Bitcoin’s upside potential in second half may surpass gold
According to The Block, JPMorgan analysts stated that bitcoin prices could continue rising in the second half of this year, driven by corporate purchases and growing support from U.S. states, while gold prices may decline. Gold has fallen nearly 8% since peaking on April 22, while bitcoin rose 18% over the same period. Analysts noted this shift is also evident in investor flows, with funds exiting gold ETFs over the past three weeks and moving into spot bitcoin and cryptocurrency funds.
Market News: SEC delays decision on 21SHARES' spot Polkadot ETF
Market sources report that the U.S. Securities and Exchange Commission (SEC) has decided to delay its decision on 21SHARES’ application for a spot Polkadot ETF.
Coinbase suffers data breach, refuses ransom, offers $20 million bounty
Coinbase announced that cybercriminals obtained personal data of less than 1% of its monthly active users by bribing overseas customer service staff. However, passwords, private keys, or funds were not compromised, and Prime accounts were unaffected. The criminals subsequently demanded a $20 million ransom and used the stolen data to launch targeted phishing attacks on users. Coinbase explicitly refused to pay the ransom and instead established a $20 million reward fund to encourage reporting and assist in arresting and convicting the perpetrators. The company pledged full compensation for all affected users.
CoinMarketCap officially launches CMC Launch; first project is decentralized perpetual trading platform Aster ($AST)
Crypto data platform CoinMarketCap (CMC) today announced the launch of CMC Launch—a dedicated launchpad for high-quality pre-TGE projects aimed at connecting promising crypto ventures with its global user base of over 50 million monthly active users. The first project on CMC Launch is Aster ($AST), a decentralized perpetual trading platform.
Compared to traditional launch platforms, CMC Launch employs stricter vetting criteria, opening access only to truly promising projects to help early-stage teams reach global audiences. Selected projects will receive dedicated landing pages, interactive tasks to drive user engagement, and wallet screening support for airdrop eligibility.
The inaugural project, Aster—backed by YZI Labs—aims to provide innovative perpetual contract services for traders from beginner to advanced levels. Key features include dual-mode trading interfaces (simple/professional) catering to different user groups, various airdrop incentives, non-custodial trading without KYC to ensure asset sovereignty, deep liquidity pools, low fees, multi-chain support for seamless experience, currently live on BNB Chain and Arbitrum.
Believe to pause new project listings, focusing on supporting existing projects
Ben Pasternak, founder of Believe, announced that due to a surge in project onboarding requests from founders, the platform will temporarily halt displaying new projects and instead focus on supporting existing ones. The platform will prioritize ensuring入驻 projects receive essential tools and resources.
Sonic CSO: Sonic terminates partnership with Wintermute
Sonic CSO (@SonicAssistant) officially announced the non-renewal of its market-making contract with Wintermute, ending their five-year exclusive partnership. Sonic will now seek market makers offering "MM++" services, expecting new partners to not only support centralized exchanges but also actively contribute to DeFi ecosystem development, application growth, global community events, and maintain open, proactive communication with the team.
Movement Labs exposed for secretly allocating 10% of MOVE tokens to two “shadow advisors”
According to CoinDesk, Movement Labs was revealed to have secretly committed, via undisclosed memorandums of understanding, up to 10% of the total MOVE token supply to two “shadow advisors.” Leaked internal documents show the company promised Sam Thapaliya and Vinit Parekh token allocations each worth over $50 million—transactions never disclosed to investors or the public.
Binance Wallet to host Alaya AI (AGT) TGE event
Official announcement: Binance Wallet will host the Alaya AI (AGT) TGE event. Subscription period: May 16, 2025, 3:00 PM to 5:00 PM (UTC+8). Eligibility: Starting from this TGE, qualified users must participate using Binance Alpha points.
Binance Alpha, HODLer Airdrop, and Spot Listing for Nexpace (NXPC)
Official page shows Binance Alpha has added the NXPC token. Participation thresholds for the NXPC airdrop are now available: users must have at least 187 Alpha points to qualify. Additionally, users with 143–186 points (inclusive) whose Binance account UID ends with 9 are also eligible. Claiming the NXPC airdrop will cost 15 Alpha points.
The 17th Binance HODLer Airdrop features Nexpace (NXPC). Users who subscribe to principal-guaranteed earn products (fixed/regular or on-chain) with BNB between 00:00, May 6, 2025, and 23:59, May 9, 2025 (GMT+8), will be eligible for airdrop allocation.
Binance will list NXPC at 15:30 (GMT+8) on May 15, 2025, opening trading pairs against USDT, USDC, BNB, FDUSD, and TRY, under seed-label trading rules. NXPC deposits will open one hour later.
Market Movements
Recommended Reading
From Meme Coins to CSGO Skins: Speculation Never Sleeps
This article explores the rise, boom, and collapse of the CS:GO skin market, drawing comparisons with cryptocurrency markets such as meme coins and NFTs, analyzing their speculative nature, economic ecosystems, and risks. Through case studies and data, it illustrates the wealth effect, drivers of price volatility, and the psychology of players and speculators.
This article discusses the buzz generated by MapleStory Universe—the blockchain version of MapleStory—after the launch of its governance token NXPC, which surged past $3, creating a wealth effect. However, the future of blockchain gaming remains uncertain, with NXPC’s success dependent on the vibrancy of creator economies and long-term ecological value.
Ray Dalio, Founder of Bridgewater Associates: The Art of the Deal and the Forces Behind It
Authored by Ray Dalio, founder of Bridgewater Associates, this article examines five key forces—global economics, politics, and technology—that shape markets and world order, emphasizing the importance of rational and strategic thinking in investing and navigating change.
One Click Away from Zero: My Five Seconds with a Fake “Editor-in-Chief”
Through the author’s personal experience, this article reveals the dangers of social engineering attacks and how they exploit psychological vulnerabilities. It analyzes the mechanics of such attacks and proposes a “five-second rule” as a countermeasure to help people stay alert and avoid falling victim to scams.
This article delves into the U.S. economy, trade imbalances, and potential policy solutions, including a comparative analysis of tariffs and capital controls. It also explores bitcoin’s potential role in the future global financial system, forecasting its price could exceed $1 million by 2028. Additionally, it draws an analogy between obesity and economic imbalance and highlights investment opportunities in the cryptocurrency market.
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