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5/17
23:09
According to SoSoValue data, Bitcoin spot ETFs experienced a net outflow of $1.039 billion during the trading week (May 11 to May 15, Eastern Time).
The Bitcoin spot ETF with the largest net outflow last week was the Ark & 21Shares ETF ARKB, with a weekly net outflow of $324 million. ARKB's total historical net inflow currently stands at $1.39 billion. The second largest was BlackRock's ETF IBIT, with a weekly net outflow of $317 million. IBIT's total historical net inflow now stands at $65.78 billion.
The Bitcoin spot ETF with the largest net inflow last week was the Grayscale Bitcoin Mini Trust BTC, with a weekly net inflow of $12.604 million. BTC's total historical net inflow currently stands at $2.30 billion.
As of press time, the total net asset value of Bitcoin spot ETFs is $104.29 billion, the ETF net asset ratio (market cap as a percentage of Bitcoin's total market cap) has reached 6.58%, and the cumulative historical net inflow has reached $58.34 billion.
23:08
Svmuu reports that Bitmine Chairman Tom Lee stated on platform X that the recent selling pressure on Ethereum primarily stems from short-term macroeconomic factors, with the rise in oil prices being the current biggest negative disturbance. Over the past six weeks, oil prices have continued to climb, while ETH has shown a historically high inverse correlation with oil prices (oil price increases correspond to ETH declines). If oil prices fall, the price of ETH is expected to recover accordingly.
Tom Lee emphasized that such fluctuations are short-term trading noise, while ETH's long-term core driving forces remain in asset tokenization and the development of "Agentic AI" applications. He expects that as structural trends continue to advance, ETH will perform more strongly around 2026.
23:04
Svmuu reported that Jeong Tae-ho, the Democratic Party secretary on the National Assembly's Planning and Finance Committee, stated that taxation on crypto assets (digital assets) has been postponed several times previously, and now that “it has been delayed before, it should be implemented as planned.” Once the tax reform proposal is submitted to the committee, the party will formally begin discussions, but supplementary institutional issues will be reassessed during the specific review phase.
Notably, this stance is significantly more stringent compared to his April remarks that “taxation of digital assets should be considered comprehensively,” and it aligns with the government’s direction. South Korean finance ministry officials have previously confirmed that the income tax on digital assets is scheduled to take effect on January 1, 2027.
Meanwhile, multiple figures within South Korea's ruling party have also strengthened their positions on taxation, creating a direct confrontation with the opposition party's stance advocating for the cancellation of taxation. The battle over South Korea's crypto tax system may further escalate during the year-end budget and tax discussions. (Digital Asset)
23:02
Svmuu News: Musk announced on the X platform that X downloads have surpassed 1 billion.
It is reported that since Musk's acquisition, X has gradually transformed from a traditional social media platform into a comprehensive application, integrating multiple functions such as AI, video, payments, recruitment, and real-time information, continuously evolving toward a "super app."
22:48
Svmuu reported that US long-term Treasury yields have climbed to their highest levels in nearly three years, as investor concerns over accelerating inflation sparked a selloff in global bond markets.
After US President Donald Trump pressured Iran to reach an agreement to end the war, causing oil prices to extend their gains, the yield on the 30-year US Treasury bond rose as much as 4 basis points to 5.16%, the highest level since October 2023. Yields on the 10-year and 2-year Treasury notes reached 4.63% and 4.10%, respectively, their highest since February 2025. In Japan, the yield on the 30-year Japanese government bond surged 20 basis points to 4.2%, hitting its highest level since the bond was first issued in 1999.
Bond traders often regard the 5% yield level on the 30-year US Treasury as a "line in the sand," believing it will attract bargain-hunting buyers. Guneet Dhingra, head of US interest rate strategy at BNP Paribas, stated, "There is no anchor point above 5%." He advised clients to focus on the 5.25% to 5.5% trading range for the 30-year US Treasury bond. (Jin Shi)
22:43
Svmuu News: Analyst Murphy posted on X platform, stating that based on the relationship between the "1-3 month short-term holder cost basis (1-3m_RP)" and price action, Bitcoin may currently be in the formation stage of a bottom structure.
Murphy pointed out that previous bear market bottoms were accompanied by BTC breaking through and trading around the 1-3m_RP cost basis line, but the patterns differed across cycles: In 2015-2016, BTC oscillated around this cost basis line for an extended period; in 2019-2020, it directly triggered a mini bull run after the breakout; in 2022-2023, it experienced a second retest to confirm support before rebounding again.
Murphy stated that since BTC broke through this cost basis line on April 15, it has continued to trade above it. Regarding future trends, he believes the focus is not on predicting specific scenarios, but rather on preparing position and trading response plans for different market situations in advance.
22:28
According to Svmuu, msx data shows that Samsung Electronics' stock price has expanded its gain to 6%.
Previously, Samsung Electronics and its largest union restarted government-mediated wage negotiations on Monday in a final effort to avoid a strike at the world's largest memory chip manufacturer. The resumption of talks comes days after the first round of government mediation broke down over performance bonus issues. As planned, an 18-day strike is set to begin on Thursday. Choi Seung-ho, head of Samsung Electronics' largest union, stated: "We will participate in the second round of negotiations in good faith." There is no set deadline for the second round of mediation. However, with only three days left until the union's planned strike, this is widely seen as the last chance for a breakthrough.
22:24
Svmuu News: White House Crypto Policy Advisor Patrick Witt stated that if the Clarity Act passes smoothly, it could provide approximately 90% of the regulatory framework and policy certainty needed by the crypto industry. The bill is seen as one of the most critical pieces of legislation in the current U.S. crypto regulatory system, expected to strike a significant balance between compliance, market structure, and industry development. (Cointelegraph)
22:20
Svmuu reports that the ALEX Lab Foundation has submitted governance proposal AGP-8, which plans structural adjustments to the ALEX protocol, including halting ALEX community token emissions, closing the Treasury Grant Program (TGP), and introducing a protocol-driven token buyback and burn mechanism. Currently, the circulating supply of ALEX is approximately 973 million tokens, nearing the 1 billion cap.
If the proposal is approved, the next 32 cycles will be the final ALEX emission cycles, after which no new token emissions will occur. Approximately 1.568 million STX tokens remain unclaimed in the TGP 2024 treasury. Following a 30-day grace period, the ALEX Lab Foundation will use these funds to buy back and burn ALEX tokens at market prices. Going forward, protocol revenue will also be used for ongoing buybacks and burns after covering operational costs. This proposal aims to transition ALEX from an inflationary model to a deflationary one.
22:17
According to SoSoValue data, the cryptocurrency market experienced a broad decline. Bitcoin (BTC) fell 1.19%, dropping below $77,000; Ethereum (ETH) fell 2.71%, dropping below the $2,200 mark. Only the DeFi and SocialFi sectors showed relative strength, rising 1.18% and 2.40% over the past 24 hours respectively. Within the DeFi sector, Block Street (BSB) surged 42.25%, and Hyperliquid (HYPE) rose 10.51%. In the SocialFi sector, Toncoin (TON) increased by 4.12%.
All other sectors recorded declines: The CeFi sector fell 1.17% in the past 24 hours, with Binance Coin (BNB) dropping 1.07%; the Layer1 sector fell 1.46%, though Zcash (ZEC) saw an intraday spike of 5.22%; the Layer2 sector fell 1.70%, with Optimism (OP) declining 3.18%; the PayFi sector fell 1.78%, but Telcoin (TEL) managed a gain of 1.55%; the Meme sector fell 1.94%, while Binance Life bucked the trend by rising 6.47%; the AI sector fell 7.91%, yet Billions Network (BILL) surged counter-trend by 14.06%.
Crypto sector indices reflecting historical sector trends show that the ssiSocialFi and ssiDeFi indices rose by 3.26% and 2.49% respectively, while the ssiAI index declined by 7.91%.
Broad sell-off in the crypto market as BTC drops below $77,000, with only DeFi and SocialFi sectors showing relative resilience
22:11
Svmuu News Yardeni Research stated that as investors grow increasingly concerned about inflation, the Federal Reserve needs to keep pace with the bond market, or else face the risk of losing control over borrowing costs. The incoming Kevin Warsh, if he turns out to be more hawkish than the market expects, could actually help Trump achieve the low interest rates he dreams of. Ed Yardeni, the company's president and chief investment strategist, said the Federal Reserve should abandon its dovish stance at the June meeting, as it is "no longer" appropriate in the current market environment. (Jinshi)
22:09
Svmuu reported that, according to sources familiar with the matter, the two-year partnership between Apple and OpenAI has begun to fray. OpenAI believes the collaboration has not yielded the expected benefits and is currently preparing for potential legal action.
Sources said that OpenAI's legal team is working with an external law firm to study various legal options that could be formally executed in the near future. The deteriorating relationship between the two parties may lay the groundwork for future legal disputes. (Bloomberg)
22:06
According to PeckShield monitoring, the Verus-Ethereum Bridge has been hacked, resulting in the loss of assets including 103.6 tBTC, 1,625 ETH, and 147,000 USDC. The hacker subsequently swapped the stolen assets for approximately 5,402.4 ETH. The attacker's address received an initial 1 ETH approximately 14 hours ago via the mixing protocol Tornado Cash.
22:01
Svmuu News: According to the official announcement, Bithumb will list the AIGENSYN Korean Won trading pair.
21:48
Svmuu reported that according to Yonhap News: A South Korean court has partially approved Samsung Electronics' injunction request against a planned strike by its union. South Korea's KOSPI index turned positive, reversing its earlier decline of 4.68%. (Jin10)
21:41
Svmuu News On May 18, Bain Capital announced the final closing of its sixth Asia-focused fund (“Asia Fund VI”), with total commitments reaching $10.5 billion. Approximately $9.1 billion of this was raised from external investors, exceeding the fund’s initial $7 billion target. Yuji Sugimoto, Partner and Head of Bain Capital’s Asia Private Equity business, stated that the firm remains optimistic about the vast opportunities in the Asian market and will increase investment in talent development, technology enablement, and overall platform capabilities to achieve business scale growth at a steady and prudent pace. Currently, Bain Capital focuses on key areas including technology, industrials, consumer goods, healthcare, and business & financial services. (Yicai)
21:39
Svmuu reported that Cosine of SlowMist posted on X platform, stating that the cause of the theft may be that the attacker fabricated a fraudulent Merkle proof, which passed the verification of the Verus Ethereum bridge (not open source), thereby successfully withdrawing the funds (ETH/tBTC/USDC) from it. Specific details require further verification.
21:36
Svmuu News: On-chain analyst Tom Wan stated on platform X that the current ETH utilization rate has dropped below 90%, and the lending APY has fallen to 1.9%. Since the rsETH LayerZero cross-chain bridge was attacked, the deposits of wstETH and weETH have decreased by approximately $1.2 billion and $1.76 billion, respectively. As the strategy of leveraged looping wstETH/weETH against ETH becomes profitable again, market attention is turning to whether demand for ETH leveraged loops will return, or if capital will continue to wait on the sidelines or flow into protocols like Spark and Morpho.
21:36
Svmuu reports that after the 30-year U.S. Treasury yield surged past the 20-year high of 5%, the sell-off panic continued to spread on Monday. The yield on the 10-year Japanese government bond soared to 2.8%, hitting a 30-year high; stocks in South Korea plunged sharply, triggering a circuit breaker; and gold slipped below $4,500.
Investors believe the key is that as long as the confrontation in the Middle East continues to disrupt oil flows through the crucial Strait of Hormuz, the pressure on bonds will persist. Priya Misra, a portfolio manager at JPMorgan Asset Management, stated: "This price action is concerning for two reasons: long-term interest rates are rising globally and tend to influence each other, and the prospect of Fed rate hikes is entering the market narrative." (Jin Shi)
21:30
1. Analysis: Bitcoin has faced notable selling pressure recently, with its correlation to US small-cap stock indices rising;
2. Whale associated with BIT increases long position in ETH, now holding 120,000 ETH;
3. Grafana discloses a GitHub environment security incident, hackers steal code repository and demand ransom;
4. Analyst: Potential profit-taking pressure on Bitcoin is increasing, warranting high market vigilance;
5. Iran launches Bitcoin-settlement-based maritime insurance platform Hormuz Safe, with potential revenue exceeding $10 billion;
6. "Bond King" Gundlach: Inflation in the "4-handle" range is coming, Fed rate cuts unlikely;
7. Iran threatens to cut undersea cables in the Strait of Hormuz, seeking to impose a "sea passage toll" on Google and Microsoft;
8. A savvy wallet has accumulated 5,283.61 ETH on-chain over the past two days, currently facing an unrealized loss of $320,000;
9. Galaxy Research head estimates the timeline for advancing the CLARITY Act, which could be sent to Trump for signing into law as early as August;
10. U.S. House Agriculture Committee urges Trump to nominate a CFTC commissioner and emphasizes the importance of the CLARITY Act.

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