Headlines

Fed Chair Jerome Powell: I don't think the next move could be to raise interest rates

Fed Chair Powell said in his speech that the US PPI data is actually quite mixed, uncertain whether inflation will continue, restrictive policy may take longer than expected to work to drop inflation, the US will bring inflation back to 2%, restrictive policy may take longer than expected to work to drop inflation, from the longer side, policy Intrerest Rate is restrictive, do not think the next move may be to raise interest rates, more likely to maintain policy Intrerest Rate at current levels. (Golden Ten)

Fed Chair Jerome Powell reiterated that Intrerest Rate may remain high for longer

Fed Chair Jerome Powell said in a speech today that it looks like it will take longer to be confident in inflation and may need to stay on top of the current policy Intrerest Rate longer. The Fed needs to be patient and wait for more long evidence that high Intrerest Rate is taxing inflation, doubling the need for Intrerest Rate to remain elevated for longer. Powell expects inflation to fall month-on-month, but first-quarter price data has undermined his confidence. The lack of further progress on inflation in the US in the first quarter is noteworthy. The Fed doesn't see the fight against inflation as a smooth road, but the recent data has been higher than anyone expected. This tells people the need to be patient and let restrictive policies work. (Golden Ten)

Fed Chair Jerome Powell: Inflation is expected to fall back month-on-month

Fed Chairman Jerome Powell said in his speech that the U.S. economy is performing very well, with a very strong labor market, there was no further progress in U.S. inflation in the first quarter, there is no expectation that the road to inflation will be smooth, we must be patient and wait for policy to work, U.S. GDP will continue to rise at a rate of 2% or higher, and confidence in inflation coming back is lower than before, and inflation is expected to fall back month-on-month. (Golden Ten)

Industry News

A Dutch court found Tornado Cash developer Alexey Pertsev guilty of Money Laundering and can appeal within 14 days

On Tuesday, three judges in the Netherlands found Tornado Cash developer Alexey Pertsev guilty of Money Laundering $1.2 billion in illegal assets on Crypto Assets mixer platform Tornado Cash. The panel is expected to sentence Pertsev on Tuesday, and Alexey Pertsev's attorney will have 14 days to appeal the judge's decision. （DL News ）

Tornado Cash developer Alexey Pertsev has a sentence of 64 months in prison

A Dutch judge found Tornado Cash developer Alexey Pertsev guilty of Money Laundering at the 's-Hertogenbosch court. The court sentenced Pertsev to 64 months in prison. In August 2022, Tornado Cash was sentenced to prison for the first time in the Netherlands after it was blacklisted by the U.S. government. At the time, the U.S. Treasury Department claimed that Tornado Cash was a key tool for the North Korean Hacker group Lazarus. The Lazarus Group has been linked to a $625 million hack attack on Ronin Network, owned by Axie Infinity, as well as other significant Crypto Assets thefts. （Coindesk）

J. Christopher Giancarlo, former president of the U.S. CFTC, joins the board of directors of stablecoin issuance business Paxos

"Paxos has become a leader in bridging traditional and digital asset markets through the launch of regulated solutions for institutional and consumer safety, and is honored to join the Paxos Board of Directors and be a part of innovation in the financial sector," J. Christopher Giancar stablecoin issuance lo said in a statement.CFTC ”（Coindesk）

Project News

LayerZero CEO: Longer 100,000 Addresses have been "exposed" as witches

LayerZero CEO Bryan Pellegrino posted on the X platform that longing 100,000 addresses have been recognized as witches.
Protocol to previous news, LayerZero posted on the X platform that it is in the best interest of the protocol to distribute Tokens to persistent users (rather than Sybil users), and for Sybil users, there are now two options: 1. Self-report the witch Address by May 17; 2. When an Address is flagged by LayerZero's internal witch report or bounty hunter, further reporting will no longer be valid and no Tokens will be received.
Bryan Pellegrino replied to users on Platform X that the "witch self-report" is not a long wick candle for ordinary users, but a long wick candle for large witch users. The focus of the report is on mass witches rather than individual users.

The LayerZero: Witch Bounty will begin on May 18th at 10:00

LayerZero Labs posted on the X platform that the witch bounty will start on May 18 at 10:00 Beijing time. Bounty reports close on June 1 at 07:59 CST and must contain at least 20 addresses.
Bounty hunters who successfully report witches will receive 10% of the witch's expected Token distribution, while witches will receive 0 distributions.
Witch self-reports will be available until May 18 at 07:59 a.m. EDT. Address that self-reports as a witch will receive 15% of their expected allocation. Address that do not self-report and are identified as witches by an internal report co-authored by LayerZero with Chaos and Nansen, or Address discovered during the bounty process, will not receive Token.

Lens Protocol: Lens Network, a Blockchain network, is being developed

Lens Lab, led by Stani Kulechov and the team behind Lens Protocol, a Web3 social platform built on Polygon PoS, announced that it is now developing its own Blockchain network, Lens Network. The new network will be built on Matter Labs' ZK Stack, powered by zkSync on Ethereum.

PEPE continued to reach new highs, surpassing SOL by nearly $2.9 billion in 24 H volume

CoinGecko data shows that PEPE 24 H volume is close to $2.9 billion, and currently stands at $2, 893, 749, 805, surpassing SOL ($2, 287, 698, 756) and ranking sixth among all Crypto Assets.
According to the OKX market, PEPE briefly hit 0.000011533 USDT, continuing to hit a record high; It is now trading at 0.000010988 USDT, with a 24-h pump of 15.88%.

Sonne Finance, which lost more than $20 million in an attack, has suspended its Optimism marketplace

Protocol to Paidun, the Decentralized Finance lending protocol Sonne Finance was attacked by Hacker and needs to scrutinize its timelock contract, and has now lost more than $20 million.
Sonne Finance posted on platform X that all Optimism markets have been suspended. The marketplace on Base is safe and will provide more long information in a timely manner.

Characters* Voices

Former SEC Chairman: It's troubling that meme stocks are back again, but Roaring Kitty is legitimate

CNBC interviewed former SEC Chairman Jay Clayton long wick candle the issue of GME pump 187% this week and the comeback of meme stocks, saying, "long It bothers me on many levels," Clayton said. It's closer to gambling than trading, and certainly not an investment. ”
In addition, Clayton commented on the legality of Roaring Kitty's recent actions, although it is not insider trading and stock market manipulation, but Clayton believes that Kitty should express his thoughts directly and clearly (Tell people why you do this.), and his behavior is legal.

OPINION: Tornado Cash developer sentenced to 64 months in prison is unlikely to affect Roman Storm's U.S. case

According to the verdict, the Dutch court convicted Pertsev, 31, of Money Laundering $1.2 billion through Tornado Cash. A panel of three judges sentenced Pertsev to five years and four months in prison. In its final conclusions, the court stated: "The court finds that the law and facts prove that the suspect, together with others, engaged in Money Laundering through Ethereum obtained through the crime, and that he has become accustomed to this Money Laundering." Meanwhile, Tornado Cash co-founder Roman Storm's trial in the United States is scheduled to begin on September 23. Last year, U.S. prosecutors charged Storm and another co-founder, Roman Semenov, with conspiracy to Money Laundering, conspiracy to violate sanctions, and conspiracy to operate an unlicensed coin transmission business. At the time of the indictment, Semenov was still at large.
A spokesperson for the DeFi Education Fund (Decentralized Finance Education Fund) said they were disappointed by the outcome of Pertsev's case in the Netherlands, but believed that it should not affect the U.S. long wick candle's case against Storm. A spokesperson for the fund said in an emailed statement: "As we argued in our previously filed amicus briefs on the Roman Storm case, the theory of the government's responsibility in the indictment is unprecedented. "According to the allegations in the indictment, software developers will be held criminally liable if third-party wrongdoers use the software longest years after creating Open Source, and there is no direct or active interaction between the developer and those wrongdoers."
"This is not the current law in the United States at all," they added. （The Block）

Investment and financing

encryption prediction market Polymarket closed two rounds of funding totaling $70 million, led by Founders Fund and others

encryption prediction market Polymarket has closed two funding rounds totaling $70 million, the most recent of which was led by Founders Fund and others, Ethereum with participation from co-founder Vitalik Buterin and others. A Polymarket spokesperson said Founders Fund led a $45 million Series B funding round. General Catalyst earlier helped the company raise $25 million in a Series A funding round. （Bloomberg）

Tokenization reinsurance RWA platform Re closed a new $7 million funding round led by Electric Capital

Tokenization reinsurance RWA platform Re closed a new $7 million funding round led by Electric Capital, which reportedly closed a $14 million seed round at the end of 2022, and Re aims to support $200 million in premiums by the end of this year. （Coindesk）

Solana on-chain DEX Zeta Markets closed a $5 million funding round led by Electric Capital

Solana DEX Zeta Markets announced the closing of a new $5 million funding round led by Electric Capital, Digital Asset Capital Management, Selini Capital and Airtree Ventures, as well as Solana's Anatoly Yakovenko, Helius' Mert Mumtaz, Tensor Angel investors including Richard Wu of Pyth, Genia Mikhalchenko of Pyth, JMR Luna of Wintermute and Nom of Bonk participated. （TheBlock）