Crypto Morning Brief: All four major banks lower RMB deposit rates; Bybit announces launch of USDT direct trading for global stocks
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Crypto Morning Brief: All four major banks lower RMB deposit rates; Bybit announces launch of USDT direct trading for global stocks
SEC's new chair Atkins announces new direction for crypto regulation, saying it will promote rather than stifle innovation.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Four major banks cut RMB deposit rates, with the largest reduction by 25 basis points
According to Jin10 News, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank have all announced reductions in RMB deposit interest rates, with the largest cut reaching 25 basis points. The current account rate was reduced by 5 basis points to 0.05%. Fixed deposit rates for three-month, six-month, one-year, and two-year terms were each lowered by 15 basis points, standing at 0.65%, 0.85%, 0.95%, and 1.05% respectively. Three-year and five-year rates were both reduced by 25 basis points, now at 1.25% and 1.3%.
SEC's new chair Atkins announces new direction for crypto regulation, says it will promote rather than stifle innovation
According to Cointelegraph, Paul Atkins, the newly appointed chair of the U.S. Securities and Exchange Commission (SEC), stated during a speech on May 19 that this is a "new era" for the cryptocurrency industry. Atkins noted that "crypto markets have long stagnated in a regulatory gray zone under the SEC," and emphasized that under his leadership, the SEC will return to its fundamental mission of "promoting rather than stifling innovation." He has directed policy divisions within the commission to begin drafting rule proposals related to cryptocurrencies while continuing to "remove barriers" through staff-level statements.
SEC delays decisions on multiple Solana ETF applications, citing need for more time to assess legal and policy issues
According to Decrypt, the U.S. Securities and Exchange Commission (SEC) announced on Monday a delay in decisions regarding several spot Solana ETF applications submitted by 21Shares, Bitwise, VanEck, and Canary Capital. In regulatory filings, the SEC said it needs additional time to evaluate the legal and policy issues associated with these applications.
DigiAsia, a publicly traded company in the U.S., plans to raise $100 million and allocate 50% of profits to buy Bitcoin
According to crypto KOL Pete Rizzo, DigiAsia, a fintech company listed on U.S. stock exchanges, plans to raise $100 million and has committed to using 50% of its profits to purchase Bitcoin.
Bybit launches USDT direct trading for global stocks, bridging crypto and traditional finance
According to PRNewswire, cryptocurrency exchange Bybit has announced the launch of an innovative service enabling users to trade global stocks directly with USDT. As part of Bybit’s Gold and Forex (MT5) product suite, the service supports trading of 78 popular global stocks including Apple, Tesla, Meta, Nvidia, and Amazon.
Users can now trade diversified assets such as cryptocurrencies, stocks, gold, oil, indices, and forex through a single account and wallet without needing fiat deposits, using USDT.
Binance Alpha reaches 194 points; users eligible to claim 294 XTER tokens
According to an official announcement, Xterio (XTER) has launched on the Binance Alpha platform. Eligible Binance users who hold at least 194 Binance Alpha points can claim an airdrop of 294 XTER tokens starting from May 19 at 16:00 (Beijing time) via the Alpha event page. Claiming the airdrop will consume 15 Binance Alpha points, and users must confirm receipt within 24 hours (before May 20 at 16:00 Beijing time), otherwise they will be deemed to have forfeited their eligibility.
Binance Alpha reduces trading fees for tokens including B2, AGT, and PRAI from 0.15% to 0.01%
According to official news, Binance Alpha has launched a special fee discount campaign for limit orders.
Trading fees for specified tokens via Alpha limit orders have been reduced from 0.15% to just 0.01%. Tokens benefiting from this offer include B2, AGT, PRAI, FAIR3, KILO, PUFFER, AIOT, SKYAI, MYX, and ZKJ.
Sonic SVM introduces new $SONIC buyback and lock-up mechanism to enhance token value capture logic
Sonic SVM, the first SVM expansion chain in the Solana ecosystem, has announced an upgrade to the $SONIC token model, introducing a buyback and lock-up mechanism to replace the previous burn model. Going forward, 50% of on-chain transaction fees will be used to repurchase $SONIC from the market, which will then be locked and linearly released over 24 months.
In addition, Sonic SVM will convert part of the transaction fees into SOL and stake them on the Solana mainnet. The staking rewards will be paired with $SONIC and injected into liquidity pools to support mainnet liquidity development and provide additional incentives for LPs.
Vitalik proposes new "partially stateless nodes" solution to optimize scaling roadmap
On May 19, Vitalik Buterin released a proposal adjusting Ethereum’s scaling roadmap, focusing on introducing the concept of "partially stateless nodes," aiming to balance network scalability with node decentralization. This scheme allows users to run nodes that store only partial state data while maintaining trustless, censorship-resistant, and privacy-friendly local access capabilities.
The proposal also prioritizes full deployment of EIP-4444, reducing node data retention periods to approximately 36 days, significantly lowering disk space requirements. It further suggests building distributed historical storage solutions and adjusting gas pricing mechanisms to increase storage costs while decreasing execution costs.
This adjustment could maintain the feasibility of running personal nodes even if L1 gas limits increase 10–100 times, preserving Ethereum’s decentralized nature.
Circle: Sony’s Singapore online store now accepts USDC payments
Circle posted on social media that Sony’s online store in Singapore now accepts USDC payments via Crypto.com.
JPMorgan CEO: Will allow clients to buy Bitcoin but won’t offer custody services
According to Jin10 News, JPMorgan (JPM.N) CEO Dimon stated that the bank will allow clients to buy Bitcoin but will not provide custody services for it.
Market Data
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