BTC breaks through $97,000 as Pakistan and India engage in a war

Headline

▌BTC breaks through $97,000

The market shows that BTC breaks through $97,000 and is now at $97,018.29, with a 24-hour increase of 2.42%. The market fluctuates greatly, so please do a good job of risk control.

▌Pakistan and India exchange fire in Pakistan-controlled Kashmir

According to the Pakistan Armed Forces Public Information Bureau on May 7, Pakistan and India have begun to exchange fire on the Line of Control in Pakistan-controlled Kashmir, and Pakistan has launched ground and air combat operations. The Indian Ministry of Defense issued a press release in the early morning of the 7th, confirming that the Indian armed forces launched an operation code-named "Sindur" to strike facilities in Pakistan and Pakistan-controlled Kashmir. The communiqué stated that the above-mentioned region planned and directed the attack on India.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $96,970.02, with a daily increase or decrease of +2.5%;

ETH's latest transaction price is $1,819.20, with a daily increase or decrease of +0.2%;

BNB's latest transaction price is $604.18, with a daily increase or decrease of +1.1%;

SOL's latest transaction price is $147.10, with a daily increase or decrease of +0.6%；

DOGE's latest transaction price is 0.1726 US dollars, with a daily increase or decrease of +1.4%；

XPR's latest transaction price is 2.15 US dollars, with a daily increase or decrease of +1.2%.

Policy

▌U.S. CFTC withdraws appeal against crypto prediction platform, Kalshi says "election contracts will continue to exist"

Kalshi posted on the X platform that the U.S. Commodity Futures Trading Commission (CFTC) has "withdrawn its appeal against the crypto prediction platform." Last year, the CFTC filed a motion to try to prevent Kalshi from providing prediction markets related to the November election. Previously, a federal judge ruled that the CFTC "exceeded its authority" in preventing Kalshi from allowing users to trade contracts. CFTC Commissioner Summer K. Mersinger also said in February this year: "Election contracts will continue to exist." Kalshi said: "The election market will continue to exist."

▌Democratic senators propose to ban the president from investing in or supporting crypto assets

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

The bill's sponsor, Oregon Democratic Senator Jeff Merkley, said, "Currently, anyone who wants to establish a relationship with the president can make personal profits for the president by purchasing cryptocurrency he owns or controls. This is an extremely corrupt practice that threatens our national security and erodes the public's trust in the government. We must end this corruption immediately."

▌New Hampshire allows Bitcoin holdings to be capped at 5% of total state funds

The Governor of New Hampshire signed HB 302, which adopts Satoshi Action's Strategic Bitcoin Reserve (SBR) model. What HB 302 contains: - Allows state treasury to purchase Bitcoin and top digital assets - Authorizes the Reserve to purchase up to $500 billion in Bitcoin (full stop loss only); - Caps holdings at 5% of total state funds - Ensures Bitcoin complements the state’s broader investments; - Enforces U.S. regulated custody - Assets must be held by a state-controlled multisig or through a U.S. exchange-traded product to maximize security and transparency; - Effective 60 days after enactment - Provides a clear operating framework for the Reserve and Stack.

Blockchain Applications

▌ZKsync achieves full EVM equivalence, developers can seamlessly deploy Ethereum contracts

According to the official announcement of ZKsync, ZKsync has now achieved full EVM equivalence (EVM Equivalence), developers can directly use the EVM bytecode compiled by Solidity to deploy on the ZKsync chain, without the need to use special tools such as zkSolc and Foundry ZKsync. This feature was introduced through the 27th version of the protocol upgrade and was officially approved for launch by the governance proposal ZIP-9.  

The EVM bytecode will be executed on EraVM through the EVM interpreter to achieve seamless compatibility with mainstream Ethereum development tools such as Foundry, Hardhat, and Remix. Despite this, due to differences in operating modes, this mechanism still has limitations such as different gas calculation methods, some EVM instructions (such as CALLCODE, SELFDESTRUCT) are not supported, and the execution fee is higher than the native EraVM contract. ZKsync recommends that performance-sensitive projects still prioritize EraVM native development. The upgrade will gradually expand to other ZK chains in the Elastic Network.

▌Adidas launches Xociety game NFT blind box based on Sui chain

Adidas creates NFT skins for the upcoming third-person encrypted shooting RPG game Xociety, supporting the Sui public chain. 2,600 Adidas mysterious blind box NFTs can be opened to reveal in-game skins, including black hoodies, neon sportswear and other styles printed with the Adidas logo. Each blind box contains clothing sets of different rarity, divided into four grades: Uncommon, Rare, Epic and First, and will be minted on Tradeport at 9 a.m. Eastern Time on May 16.

Cryptocurrency

▌Bitwise has submitted a listing application for a spot NEAR ETF to the U.S. SEC

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 number of alternative coins currently vying for regulatory approval. Bitwise's registration statement on May 6 showed that the ETF will track the price movements of NEAR tokens through traditional brokers and deduct fees. Bitwise designated Coinbase Custody as the custodian of the Bitwise NEAR ETF. The management fee, stock code and listing exchange of the Bitwise NEAR ETF have not yet been determined.

▌Doodles announced that DOOD will be launched on Solana and airdrop plan will be launched

According to the official announcement of Doodles, the project's native token DOOD will be launched on Solana and will be airdropped to eligible users. Existing Doodles NFT holders can pre-register for a limited time on the website to receive airdrop shares; "New Blood" community members will automatically receive airdrops at TGE without registration. The community qualification check tool for the Solana ecosystem will be launched soon, and detailed instructions can be viewed on the official FAQ page.

▌WLFI has launched the Snapshot proposal and plans to airdrop USD1 stablecoins to WLFI holders

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

▌Antalpha has applied to be listed on the Nasdaq Global Market

Antalpha announced that its roadshow for its proposed initial public offering of 3,850,000 shares of common stock has been launched, with an expected offering price between $11 and $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 possible over-allotments. A registration statement on Form F-1 related to the proposed offering of shares 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 purchase be accepted, prior to the effectiveness of the registration statement.  

It is reported that as Bitmain's main lending partner, Antalpha provides Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to initiate and manage their digital asset loans and monitor collateral positions through near real-time data.

▌Michael Saylor: The Bitcoin industry will reach a scale of 200 trillion US dollars

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

▌Bitcoin payment application Strike enters the cryptocurrency lending business

The Bitcoin lightning payment application Strike founded by Jack Mallers announced the launch of a new crypto lending plan for personal and corporate accounts. Mallers said at X: "You shouldn't sell the best performing asset in human history to get cash. Now you don't have to do that." Strike Lending will be launched first in parts of the United States and plans to expand to international markets in the future. "These bitcoin-backed loans will not be reported to credit agencies and will not affect credit scores," the company said. Loan amounts start at $75,000 and can go up to $2 million, with an annual interest rate of at least 12%.

Important Economic Dynamics

▌Spot gold returns to $3,400, narrowing losses to 0.9%

Spot gold returns to $3,400, rebounding more than $20 from its intraday low, narrowing losses to 0.9%.

▌Huang Renxun says China's AI market is expected to reach $50 billion in the next few years, missing out will be a huge loss

Nvidia (NVDA.O) CEO Huang Renxun said on May 6 local time that China's artificial intelligence market could reach about $50 billion in the next two to three years, missing out on this market would be a "huge loss", and being able to sell products to China would bring in revenue and taxes and "create a lot of jobs in the United States".

▌California Governor explains why he sued the US government: most harmed by tariff policy

Last month, California Governor Newsom announced that he would sue the Trump administration over tariffs. On the 5th, Newsom further explained why he sued the Trump administration in an interview with a Canadian TV network. Newsom said that California, as the strongest economic state in the United States, is also most harmed by tariff policies. Newsom said that California is the largest state in the United States, with a population that is the sum of 21 states. California is the world's fourth largest economy, and California is also the largest manufacturing and agricultural state in the United States. Of all goods imported into the United States, 40% enter through California ports. According to data released yesterday (4th), the volume of goods has dropped by 35%. In addition, the number of tourists has also dropped for two consecutive months.

Golden Encyclopedia

▌What is General Artificial Intelligence

Unlike narrow artificial intelligence (ANI), which uses artificial intelligence 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 artificial intelligence being able to fully replace human input and judgment has naturally attracted widespread attention, and researchers, technical experts, and scholars are working hard to turn the concept of AGI into reality.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.