BTC breaks through 97000 USD, Pakistan and India exchange fire

Headlines

▌****BTC breaks through $97,000

Market shows that BTC has surpassed $97,000, currently quoted at $97,018.29, with a 24-hour increase of 2.42%. The market is quite volatile, please ensure proper risk control.

▌****Fighting breaks out between Pakistan and India in Pakistani-controlled Kashmir

According to the Pakistani military's media wing, on May 7, clashes have begun between Pakistan and India along the Line of Control in Pakistan-administered Kashmir, with Pakistan launching ground and aerial operations. The Indian Ministry of Defense confirmed early on the 7th that the Indian armed forces have initiated an operation codenamed "Sindhur" to target facilities in Pakistan and the Pakistan-administered Kashmir region. The statement claimed that the mentioned regions have planned and commanded attacks against India.

Market

As of the time of writing, according to Coingecko data:

The recent transaction price of BTC is $96,970.02, with an intraday change of +2.5%;

The recent transaction price of ETH is $1,819.20, with an intraday fluctuation of +0.2%;

The recent trading price of BNB is $604.18, with a daily change of +1.1%;

The recent transaction price of SOL is $147.10, with a daily fluctuation of +0.6**%**;

The recent trading price of DOGE is $0.1726, with a daily fluctuation of +1**.4****%****; **

The recent transaction price of XPR is $2.15, with a daily fluctuation of +1.2**%**.

Policy

▌****The US CFTC withdraws its appeal against the cryptocurrency prediction platform, Kalshi states "election contracts will continue to exist"

Kalshi stated on platform X that the Commodity Futures Trading Commission (CFTC) has "withdrawn its appeal against the crypto prediction platform." Last year, the CFTC submitted a motion attempting to stop Kalshi from offering prediction markets related to the November elections. A federal judge previously ruled that the CFTC "exceeded its authority" in preventing Kalshi from allowing users to trade contracts. CFTC commissioner Summer K. Mersinger also stated in February this year, "Election contracts will continue to exist." Kalshi said, "The election market will continue to exist."

▌****Democratic Senator Proposes Ban on Presidential Investment or Support for Crypto Assets

After suddenly withdrawing support for the Senate's first stablecoin regulatory bill, Senate Democrats announced on Tuesday that they would introduce a new bill prohibiting federal officials and their families from issuing digital assets, directly targeting the stablecoins and meme coins currently held by Trump and his family.

The bill's sponsor, Oregon Democratic Senator Sen. Jeff Merkley, stated, "Currently, anyone hoping to establish a relationship with the president can profit personally by purchasing cryptocurrencies that he owns or controls. This is an extremely corrupt act that threatens our national security and undermines public trust in the government. We must put an end to this corruption immediately."

▌****New Hampshire allows a Bitcoin holding limit of 5% of total state funds

The Governor of New Hampshire has signed HB 302, which adopts the Satoshi Action's Strategic Bitcoin Reserve (SBR) model. The contents of HB 302:

• Allow state finances to purchase Bitcoin and top digital assets - authorize reserves to purchase up to $500 billion in Bitcoin (full stop loss only);

• The holding limit is 5% of the total state funds - ensuring broader investments to supplement Bitcoin in the state;

-Enforcement of U.S. regulatory custody - Assets must be held by state-controlled multi-signature or through products traded on U.S. exchanges to maximize security and transparency;

• Effective in 60 days - providing a clear operational framework for reserves and stacking.

Blockchain Applications

▌****ZKsync achieves full EVM equivalence, allowing developers to seamlessly deploy Ethereum contracts

According to the official announcement from ZKsync, ZKsync has now achieved full EVM equivalence, allowing developers to directly deploy EVM bytecode generated by Solidity on the ZKsync chain without the need for specialized tools like zkSolc or Foundry ZKsync. This functionality was introduced through the upgrade of protocol version 27 and was formally approved for launch by governance proposal ZIP-9.

EVM bytecode will be executed on top of EraVM through the EVM interpreter, achieving seamless compatibility with mainstream Ethereum development tools such as Foundry, Hardhat, and Remix. Nevertheless, due to differences in operating modes, this mechanism still has limitations such as different gas calculation methods, unsupported EVM instructions (like CALLCODE and SELFDESTRUCT), and execution costs higher than native EraVM contracts. ZKsync recommends that performance-sensitive projects prioritize native development on EraVM. This upgrade will gradually expand to other ZK chains in the Elastic Network.

▌****Adidas launches Xociety game NFT blind boxes based on Sui chain

Adidas is creating NFT skins for the upcoming third-person crypto shooter RPG game Xociety, supporting the Sui public chain. 2600 Adidas mystery blind box NFTs can yield in-game skins, including black hoodies, neon sportswear, and other styles featuring the Adidas logo. Each blind box contains clothing sets of varying rarities, categorized into four tiers: Uncommon, Rare, Epic, and First, which will be minted on Tradeport on May 16th at 9 AM Eastern Time.

Cryptocurrency

▌****Bitwise has submitted a listing application for a spot NEAR ETF to the US SEC

The digital asset management company Bitwise has submitted a listing application for a spot NEAR ETF to the U.S. Securities and Exchange Commission, adding a new member to the growing list of alternative coins vying for regulatory approval.

Bitwise Near's registration statement from May 6 indicates that the ETF will track the price movements of NEAR tokens through traditional brokers, with fees deducted. Bitwise has designated Coinbase Custody as the custodian for the Bitwise NEAR ETF. The management fee, ticker symbol, and listing exchange for the Bitwise NEAR ETF have not yet been determined.

▌****Doodles announces that DOOD will be launched on Solana and will initiate an airdrop plan

According to the official announcement from Doodles, the project's native token DOOD will soon be launched on Solana, and airdrops will be distributed to eligible users. Existing Doodles NFT holders can pre-register for a limited time on the website to receive airdrop allocations; members of the "New Blood" community will automatically receive airdrops at TGE without the need to register. A community qualification verification tool for the Solana ecosystem will be launched soon, and detailed information can be found on the official FAQ page.

▌****WLFI has launched a Snapshot proposal, planning to airdrop USD1 stablecoin to WLFI holders

According to the official announcement from World Liberty Financial, it has launched the Snapshot proposal to test the on-chain airdrop function, distributing a small amount of USD1 stablecoin to all eligible $WLFI holders to verify the actual operation of the airdrop system and to give back to early supporters. This airdrop will be funded by WLFI and executed through the Ethereum mainnet, with specific distribution amounts and eligibility criteria to be announced later. Voting is currently open and will end on May 14, with the voting page showing a support rate of 100%.

▌****Antalpha has applied for listing on the Nasdaq Global Market

Antalpha has announced that its roadshow for the proposed initial public offering of 3,850,000 shares of common stock has begun, with an expected price range of $11 to $13 per share. Antalpha plans to grant the underwriters a 30-day option to purchase up to an additional 577,500 shares of common stock to cover any potential over-allotments. The F-1 registration statement related to the proposed offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, until the registration statement becomes effective.

According to reports, as the main loan partner of Bitmain, Antalpha provides Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows clients to initiate and manage their digital asset loans while monitoring collateral positions nearly in real-time.

▌****Michael Saylor: The Bitcoin industry will reach a scale of $200 trillion

According to Bitcoin Magazine, Michael Saylor stated that the Bitcoin industry will reach a scale of 200 trillion dollars.

▌****Bitcoin payment app Strike ventures into cryptocurrency lending business

Strike, the Bitcoin lightning payment app founded by Jack Mallers, has announced the launch of a new crypto lending program for personal and business accounts. Mallers said on X: "You shouldn't be selling the best performing asset in human history just to get cash. Now you don't have to. "Strike Lending will be launched first in select parts of the U.S., with plans to expand internationally in the future. "These Bitcoin-backed loans are not reported to credit bureaus and do not affect credit scores," the company said. "Loan amounts start at $75,000 and go up to $2 million, with an annual interest rate of at least 12%.

Important Economic Dynamics

▌****Spot gold returns to the $3,400 mark, with a decline narrowed to 0.9%

Spot gold has returned to the $3,400 level, rebounding more than $20 from the daily low, with the decline narrowing to 0.9%.

▌Jensen Huang stated that the Chinese AI market is expected to reach $50 billion in the next few years, and missing out would result in huge losses

NVIDIA's CEO Jensen Huang stated on May 6 local time that the Chinese artificial intelligence market could reach approximately $50 billion in the next two to three years, and missing out on this market would be a "huge loss." Being able to sell products to China would bring revenue and taxes, and "create a large number of jobs in the United States."

▌California Governor explains why he is suing the U.S. government: the biggest victims of tariff policies

California Governor Gavin Newsom announced last month that he would sue the Trump administration over tariff issues. On the 5th, Newsom further explained in an interview with Canadian television why he is suing the Trump administration. Newsom stated that California, as the strongest economy in the United States, is also the most harmed by the tariff policy. Newsom indicated that California is the largest state in the U.S., with a population equal to that of 21 states combined. California is the fourth largest economy in the world and is also the largest manufacturing and agricultural state in the U.S. Forty percent of all goods imported into the U.S. come through California's ports. According to data released yesterday (the 4th), the volume of goods has already decreased by 35%. Additionally, the number of tourists has also declined for two consecutive months.

Golden Encyclopedia

▌What is General Artificial Intelligence

Unlike narrow artificial intelligence (ANI) (which uses AI to solve a single problem), general artificial intelligence (AGI) refers to artificial intelligence that can understand, learn, and apply knowledge in a way that is indistinguishable from human cognition. AGI is still in the theoretical stage, but the prospect of AI fully replacing human input and judgment has naturally drawn widespread attention, with researchers, technical experts, and scholars working hard to turn the concept of AGI into reality.