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According to a report by Jinse Finance, U.S. President Donald Trump is countering criticism linking him and his family to cryptocurrency. On May 4th, Trump posted on the X platform that he plans to host a dinner in Washington at the end of the month for major supporters of the "Trump Official Memecoin" (TRUMP memecoin). Previously, Massachusetts Democratic Senator Elizabeth Warren criticized the Trump family's alleged "improper" cryptocurrency transactions, including investments in Trump-related stablecoin USD1 by the UAE. In late April, Warren and several other lawmakers, including California Democratic Senator Adam Schiff, called on federal officials to address the potential risks of bribery and corruption associated with the Trump memecoin. Last week, the Financial Services Committee and the Agriculture Committee announced a joint hearing on market structure issues and released the first draft of related legislation on Monday, which includes how the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will regulate cryptocurrencies. However, Trump's plan to host two cryptocurrency-themed dinners in May has sparked new controversy. One of the dinners, titled "Crypto and AI Innovators Dinner," is hosted by the pro-Trump super political action committee MAGA Inc., with an entry fee of up to $1.5 million. The other dinner is for the top 220 investors in the Trump memecoin, with entry qualifications to be obtained through auction. Critics point out that Trump is blurring personal interests with public policy through these events, potentially violating the Constitution's "Emoluments Clause," which prohibits the president from accepting gifts or economic compensation from domestic or foreign governments or their agents. Additionally, the Trump family profits from its cryptocurrency projects, while the Trump administration's relatively lenient regulatory stance on cryptocurrency further exacerbates concerns about conflicts of interest.

According to a report by Jinse Finance, validators on the Solana network successfully averted a potential disaster by deploying a patch to fix a vulnerability in a program. If exploited, the vulnerability could have allowed attackers to mint certain tokens indefinitely or withdraw them from any account. This vulnerability only affected the Token-22 confidential tokens, with the issue residing in the ZK ElGamal proof program, which is used to verify encrypted balances and ensure the accuracy of zero-knowledge proofs. According to a post-mortem report by the Solana Foundation, some array components in the on-chain ZK ElGamal proof program were not included in the hash used to generate the Fiat-Shamir transform. Sophisticated attackers could exploit these unhashed components to develop forged proofs, thereby executing unauthorized operations through verification.

Market data shows that BTC has surpassed $94,500, currently reported at $94,508.1. The 24-hour decline has narrowed to 1.29%. The market is highly volatile, so please ensure proper risk management.

Devin Finzer, co-founder and CEO of OpenSea, stated that the U.S. Securities and Exchange Commission's (SEC) enforcement approach towards cryptocurrency companies has cast a lasting "regulatory shadow" over the industry. In an interview, Finzer mentioned that during the Biden administration, the agency unfairly targeted prominent participants in the cryptocurrency sector, including OpenSea. "There are various types of digital assets, you know, and you shouldn't treat them all the same. That's obvious. But I think the previous approach by the SEC was, you know, a very, very generic approach." The SEC issued a Wells notice to OpenSea in 2024—a formal notice that typically precedes enforcement action—alleging that the NFT marketplace was operating as an unregistered securities exchange. At the time, Finzer criticized the SEC's "regulation by enforcement" approach and stated that OpenSea was ready to "stand up and fight."

According to on-chain data tracking service Whale Alert, at around 5:36 AM Eastern Eight District Time, a dormant address containing 2,343 BTC (221,429,323 USD) was just activated after 11.8 years.

According to monitoring data from Farside Investors, Grayscale GBTC had a net outflow of $16.4 million yesterday.