Weekly Preview | US April CPI data will be revealed; VanEck plans to launch a new encryption-related ETF

News Preview:

• The U.S. SEC plans to hold its fourth crypto roundtable on May 12, with executives from BlackRock, Fidelity, Nasdaq, and others in attendance;
• On May 13 at 20:30, the US Consumer Price Index (CPI) for April will be released, reflecting the latest inflation trends;
• sns.sol posted on platform X that the SNS airdrop will begin on May 13;
• VanEck plans to launch a new crypto-related ETF on May 14, providing a wide range of industry investment opportunities through dozens of stocks;
• Vaulta: EOS tokens will become A tokens on May 14, with an exchange ratio of 1:1;
• BlockFi urges creditors to claim bankruptcy compensation as soon as possible, with May 15 as the deadline.

####May 12

Policy Regulation:

The SEC plans to hold its fourth cryptocurrency roundtable on May 12, with executives from BlackRock, Fidelity, Nasdaq, and others in attendance.

The detailed agenda and guest list for the roundtable meeting titled "Tokenization: Asset on Chain - The Intersection of Traditional Finance and Decentralized Finance" organized by the U.S. Securities and Exchange Commission (SEC) Special Working Group on Crypto Assets, scheduled for May 12, is part of the series of regulatory activities on crypto assets initiated by the SEC in March. The roundtable will be held at the SEC headquarters from 1:00 PM to 5:30 PM local time on May 12.

The participants of the U.S. Securities and Exchange Commission include: Chairman Paul S. Atkins, Director of the Crypto Working Group Richard B. Gabbert, Commissioner Hester Peirce, and others;

The agenda includes: Financial Evolution: Capital Markets 2.0, The Future of Tokenization;

Other participants included: Cynthia Lo Bessette (Fidelity), Eun Ah Choi (Nasdaq), Will Geyer (Invesco), Robert Mitchnick (BlackRock), etc.

####May 13

Macroeconomics:

20:30, US April unadjusted CPI year-on-year/seasonally adjusted CPI month-on-month/seasonally adjusted core CPI month-on-month/unadjusted core CPI year-on-year

Exchange:

Binance will launch the Alpha point consumption mechanism starting from May 13

According to an official announcement from Binance, starting from May 13, 2025, Binance will launch an Alpha point consumption mechanism. Under this mechanism, if a user successfully participates in the token generation event (TGE) or claims an airdrop, the system will deduct a certain number of Alpha points.

WazirX is expected to resume operations this month, with the Singapore court set to rule on its restructuring and user compensation plan on May 13.

Due to a hacker attack in July 2024 that resulted in a loss of $234 million in crypto assets, the Indian exchange WazirX is awaiting a ruling from the Singapore High Court on its restructuring and user compensation plan on May 13, 2025. If approved, the parent company Zettai will restart the platform and initiate compensation within 10 working days. Over 90% of creditors have supported the plan, and users will receive compensation in the form of issued recovery tokens, with an expected recovery of 75%-80% of account balances.

Project Updates:

sns.sol: SNS token airdrop starts on May 13

sns.sol announced on platform X that the SNS airdrop distribution will begin on May 13. Currently, the query for SNS token airdrop allocation is open, and users will have 90 days to claim their token allocation. Only eligible wallets will be able to claim the tokens, and the claiming window will officially close on August 11. Any unclaimed tokens will be returned for ecosystem development.

Token Unlock:

Aptos (APT) will unlock approximately 11.31 million tokens at 2 AM Beijing time on May 13, which accounts for 1.82% of the current circulating supply, valued at approximately $67.5 million.

####May 14

Exchange:

VanEck plans to launch a new crypto-related ETF on May 14, providing broad industry investment opportunities through dozens of stocks

VanEck plans to launch a new crypto-related ETF on May 14, with the trading code NODE. This ETF aims to provide investors with exposure to a broader crypto economy by investing in financial instruments and stocks related to crypto exchanges, Bitcoin miners, and data centers. NODE will adopt an actively managed strategy, selecting 30 to 60 stocks from more than 130 related to the digital asset economy for investment.

Project Updates:

Metis will launch the Andromeda upgrade on May 14

Metis announced that the next round of evolution for MetisL2 will start on May 14, during which the Andromeda upgrade will be launched. This is the first phase of the MetisRe Genesis evolution. This upgrade introduces two groundbreaking innovations: a fraud proof mechanism and data availability migration to the Ethereum mainnet.

Vaulta: EOS tokens will become A tokens on May 14, with an exchange rate of 1:1

Web3 bank Vaulta (formerly EOS) announced on platform X that EOS tokens will become A tokens on May 14. The exchange ratio is 1:1, there are no changes in token economics, and there are no exchange fees. The exchange can be completed on May 14 through official channels.

According to previous reports, EOS is transitioning to a "web3 bank" and has been renamed Vaulta, with plans to launch a new token.

WLFI initiates a proposal for a snapshot to airdrop USD1 stablecoin to $WLFI holders, voting ends on May 14

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 stablecoins to all eligible $WLFI holders to verify the actual operation effect of the airdrop system and to reward early supporters. This airdrop will be funded by WLFI and executed through the Ethereum mainnet. The specific distribution amount and eligibility criteria will be announced later. Currently, voting has opened and will end on May 14th, with the voting page showing a support rate of 100%.

####May 15

Macroeconomics:

05:40, 2027 FOMC voting member and San Francisco Fed President Daly participates in a fireside chat;

20:40, Federal Reserve Chairman Powell delivers the opening remarks at an event;

Exchange:

Coinbase International will launch SXT perpetual contract trading on May 15

Coinbase International announced on platform X that it will add support for Space and Time perpetual contracts on Coinbase International Exchange and Coinbase Advanced. The SXT-PERP market will open on May 15 at 17:30 Beijing time or later.

Project Updates:

"If the new proposal to replace MKR with Sky as the sole governance token is approved, governance rights will be transferred to the new contract starting May 15."

Sky's core governance design team, Atlas Axis, submitted a proposal that, if approved, would complete the protocol upgrade from MKR to SKY. This shift will make SKY an exclusive governance token and enable staking to unlock USDS rewards for SKY holders. Sky co-founder Rune Christensen called it a "huge milestone" and said the proposal would enable Sky to achieve zero fixed costs by the end of 2025. If the proposal is approved, or activated within a few weeks, SKY will inherit MKR governance voting rights. Existing MKR holders can upgrade to SKY at a fixed exchange rate of 1:24,000, and can also vote on governance proposals or delegate to others. MKR to SKY will face a 1% penalty from 18 September, with an increase of 1% every three months thereafter. Initially, the SKY staking vault will disable the liquidation function, and then it will be restored. Governance authority will be moved to the new contract, and the transition will be completed from May 15th to 19th (subject to on-chain voting). As of May 11, 100% of the votes were cast.

Obol Collective is set to launch the token OBOL on May 15

The distributed validator technology project Obol Collective is set to launch its token $OBOL on May 15, 2025. According to previous news, Obol Collective will airdrop 7.5% of OBOL tokens to Ethereum node operators.

BlockFi urges creditors to claim bankruptcy payments as soon as possible, with May 15 as the deadline

The bankrupt crypto lending platform BlockFi announced that customers must complete asset claims by May 15, otherwise unclaimed assets will be distributed to other unsecured creditors according to bankruptcy law. Currently, 97% of US users have claimed compensation, but only 43% of non-US users have done so. The company reminds customers to verify the authenticity of emails and complete the KYC verification process to expedite the distribution of compensation.

Token Unlock:

Starknet (STRK) will unlock approximately 127 million tokens at 8 AM Beijing time on May 15, which accounts for 4.09% of the current circulating supply, valued at around 23 million USD.

Sei (SEI) will unlock approximately 55.56 million tokens at 8 PM Beijing time on May 15, which is 1.09% of the current circulation, valued at about 14.5 million USD.

####May 16

Exchange:

Coinbase will suspend MOVE trading on May 16

Coinbase will suspend trading of the Movement (MOVE) token around 2 AM on May 16 (UTC+8). The MOVE order book has now been adjusted to limit order mode, allowing users to place and cancel orders, and orders may be matched.

Project Updates:

All locations of the American fast-food chain Steak 'n Shake will accept Bitcoin payments starting from May 16

The American fast-food chain Steak 'n Shake announced that starting from May 16, all its stores will accept Bitcoin payments. The company stated on social media platform X on May 9 that this move will cover over 100 million customers, and signed off with "Steaktoshi" to indicate that "this transformation has just begun." The brand had already initiated a poll on social media in March asking "Should Steak 'n Shake accept Bitcoin?" which received positive responses from the crypto community, including Twitter founder Jack Dorsey.

Solayer will conduct the second season token unlock on May 16, 100% for ecological incentives and growth

According to the announcement from the Solayer Foundation, the next round of community tokens will be unlocked on May 16, all of which will be used for incentives in the second quarter, early users, InfiniSVM developers, and ecosystem development, including the launch of native products and product growth plans. The foundation stated that it will gradually announce the details of token distribution and new product release plans in May.

The hacker who invaded the SEC account announcing the approval of the Bitcoin ETF is scheduled for sentencing on May 16

A 25-year-old man from Alabama, Eric Council Jr., admitted to participating in the hacking of the SEC "X" account. Last January, he posted a false message on the platform announcing that the first (spot) Bitcoin ETF had been authorized. Council pleaded guilty on Monday in a Washington federal court to conspiracy to commit aggravated identity theft and access device fraud. Judge Amy Berman Jackson is set to impose a sentence on May 16. Prosecutors alleged that Council used forged identification and deceived an employee at a local mobile phone store into helping him hack into the victim's phone. The day before the SEC account was hacked, analysts expected the SEC to announce the approval of a spot Bitcoin ETF. The hacker’s false post, released on January 9, 2024, caused the price of Bitcoin to surge. Subsequently, the SEC confirmed that the announcement was unauthorized, and cryptocurrency prices fell immediately. The next day, the SEC officially announced the approval of the spot Bitcoin ETF.

Acurast will launch its token sale on CoinList at 1 AM on May 16th

The decentralized computing network Acurast will launch its token sale on CoinList at 1 AM (Beijing time) on May 16, with 100% token unlock. Acurast builds a decentralized computing platform using smartphones, with over 65,000 devices already connected. The total sales volume is 60 million ACU tokens, priced at $0.09 each, with a valuation of $90 million. It adopts a "bottom-up" allocation mechanism, prioritizing small purchasers. This sale is not open to specific regions such as the United States and Canada.

Galaxy plans to go public on Nasdaq on May 16

Galaxy Digital Holdings (TSX: GLXY) announced plans to list on the Nasdaq Global Select Market on May 16, 2025, and its extraordinary shareholders' meeting on May 9 approved a restructuring and re-domiciliation plan, subject to Nasdaq's final approval. If successful, Galaxy Digital Inc., the restructured U.S. company, will trade on the Nasdaq under the symbol GLXY while remaining listed on the Toronto Stock Exchange for the short term. CEO Mike Novogratz said the move will provide Galaxy with a new growth platform, expand its investor base, and better serve the digital asset and AI infrastructure ecosystem. Existing OTC market BRPHF shares will be converted to Nasdaq GLXY shares, and shareholders will not be required to pay migration fees. The re-domiciliation documents and voting materials have been submitted to the SEC and SEDAR platforms in Canada.

Token Unlock:

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on May 16, which is 1.95% of the current circulating supply, worth about 42.7 million USD.

Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 AM Beijing time on May 16, which accounts for 1.35% of the current circulating supply, valued at approximately 17.9 million USD.

####May 17

Project Updates:

Terra: The deadline for submitting loss claims to the Terraform liquidation trust fund is May 17

The Terra official released a reminder on the X platform stating that the deadline for submitting cryptocurrency loss claims to the liquidation trust fund of Terraform Labs Pte. Ltd. is May 16, 2025, at 23:59 ET (May 17, 2025, at 11:59 Beijing time). Creditors must submit their eligible cryptocurrency loss claims before this date. Late submissions will not be accepted.

Resolv: The registration for the RESOLV token genesis event is now live, with a deadline of May 17th

The Resolv Foundation announced on the X platform that the registration for the RESOLV token genesis event is now live. This is a necessary step to participate in the airdrop claims, with a deadline of May 17th, 7:59 AM Beijing time. The snapshot for Q1 was taken on May 9th, 7:59 AM Beijing time. Unregistered users will not be able to participate in the subsequent claim process. After registration ends, a Sybil check will be conducted to verify eligibility. Once the check is completed, the claim page will be opened immediately, valid for 30 days.

Token Unlock:

Avalanche (AVAX) will unlock approximately 1.67 million tokens at 8 AM Beijing time on May 17, which is 0.4% of the current circulating supply, valued at approximately $41.3 million.

ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 PM Beijing time on May 17, accounting for 1.95% of the current circulation, worth about 10.3 million US dollars.

####May 18

Token Unlock:

Melania Meme (MELANIA) will unlock approximately 26.25 million tokens at 8:00 AM Beijing time on May 18, which accounts for 6.63% of the current circulating supply, valued at approximately $10.4 million.

####Specific time to be determined

Policy Regulation:

U.S. Treasury Department plans to hold a closed-door roundtable with the crypto industry next week

According to former TechCrunch reporter Jacquelyn Melinek, the U.S. Department of the Treasury plans to hold several private roundtable meetings with members of the cryptocurrency industry next week, covering topics such as decentralized finance (DeFi), banking, cybersecurity, and various other areas of the crypto ecosystem.