Day Summary: Beige Book, Trump and Key Crypto Developments
The Federal Reserve’s latest Beige Book report showed sluggish activity: five districts saw modest growth, three reported no change, and four experienced moderate declines. Trade uncertainty, falling tourism, reduced consumer spending, and pessimistic business sentiment all point to a potential economic slowdown amid rising prices and unsettled international trade policy.
Dinner with Donald Trump & Token Unlock Extension
On May 22, a dinner with former President Donald Trump will be held at the Trump National Club in Washington. Organizers also announced an extension of the initial token-unlock schedule—adding daily unlocks for 90 days following the initial release.
S&P 500 Faces Worst Earnings Revisions
Companies in the S&P 500 are undergoing the largest earnings-revision downturn since the COVID-19 pandemic, driven by higher costs and weakening consumer demand.
SOL Staking Decline
Over the past two years, Solana’s delegated supply to validators has fallen from 80 million to 40 million SOL, and the staked-token share has dropped from 20% to 10%, indicating a major liquidity shift within the Solana ecosystem.
Alabama Drops Coinbase Staking Lawsuit
The Alabama Attorney General has withdrawn its lawsuit against Coinbase regarding staking services, easing regulatory pressure on the leading U.S. crypto exchange.
21Shares Launches SUI ETF
21Shares has registered the first SUI ETF in Delaware, giving U.S. investors regulated access to the Sui token.
SEC Sandbox with El Salvador
The SEC is creating an experimental regulatory sandbox with El Salvador, exploring two pilot programs: licensing a broker to tokenize real estate and enabling small-business capital raises of up to $10,000 via tokenized equity.
DeFi Incentives: Infrared & Movement Foundation
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Infrared (Berachain) introduced a points program ahead of its Q3 token generation event (TGE), raising $18.75 million and leading the ecosystem with $1.5 billion TVL.
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Movement Foundation unveiled its year-long DeFi Spring Plan, deploying up to 250 million MOVE tokens to spur long-term development.
Tariffs & Auto Parts
According to the Financial Times, President Trump plans to exempt certain automakers from new tariffs while maintaining 25% duties on imported vehicles and parts starting May 3. Partial relief on Chinese auto components will be granted. The President has denied these reports as inaccurate.
Binance Delistings
On May 2, Binance will delist four tokens—ALPACA, PDA, VIB, and WING—citing low liquidity and waning community interest.
zkSync Funds Recovered
Security firm PeckShield has confirmed the full recovery of $5 million stolen from the zkSync protocol.
Attorneys General Sue Over Trump’s Tariffs
A coalition of 12 U.S. state attorneys general filed suit against the administration, challenging the constitutionality of President Trump’s trade tariffs.
News
Bitcoin Enters Price Discovery as Whale Trades and Macro Signals Roar
Bitcoin hits new all-time highs eyeing $116K–$148K levels, a 40× whale long nets $40M, Fed’s $50B self-buy sparks hyperinflation warnings, and analysts see BTC at $120K+ soon.
Whale Opens $830 M 40× BTC Long; Hayes & Novogratz Issue Bold Crypto Forecasts; Key Legislative and Tech Updates
A BTC whale takes a $830 M 40× long, Bitcoin logs six consecutive green weeks, the GENIUS Act advances in the Senate, and Arthur Hayes predicts ETH at $10K–$15K as Solana’s Alpenglow upgrade nears.
GENIUS Act Advances in Senate as Crypto Markets Rally on Regulatory Clarity and Network Milestones
The GENIUS Act moves to full Senate debate ahead of Memorial Day, while Bitcoin and altcoins benefit from reduced exchange reserves, protocol upgrades, and bullish forecasts from industry leaders.
Bitcoin Closes at $106,500, Dollar Falls After Moody’s Downgrade, and Hayes & Novogratz Forecast Crypto’s Next Moves
Bitcoin hit a record weekly close of $106,500; the dollar slid to 100.85 after Moody’s downgrade; Arthur Hayes forecasts a summer altseason and $250K BTC, Michael Novogratz sees a $22 trillion crypto market.
Key Crypto and Market Updates: Arrests, Network Milestones, and DeFi Developments
Ex-Binance exec arrested for $15M fraud; Avalanche hits 1.95M active addresses; over 1M ETH withdrawn from exchanges; Fusaka devnet on May 26; MetaMask adds Solana; consumer sentiment at 43-year low.
