Key Takeaways
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Macro Environment: The three major U.S. stock indices closed lower, with the S&P 500 ending its nine-day winning streak. The U.S. ISM Services Index exceeded market expectations, curbing the decline in U.S. stocks. OPEC+ increased production again, pushing crude oil to a three-year low; gold hit a one-week high; the New Taiwan Dollar surged 5% at one point, marking its largest gain since 1988.
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Crypto Market: Bitcoin bounces back after hitting $93,000 support, breaks above $97,000 mark. Bitcoin dominance touched recent highs, rising for the fourth consecutive day, as torrents narrowed their gains.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,650.37 | -0.64% |
| NASDAQ | 17,844.24 | -0.74% |
| BTC | 94,733.80 | +0.48% |
| ETH | 1,820.02 | +0.62% |
Crypto Fear & Greed Index: 59 (52, 24 hours ago), level: Greed
Macro Economy
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U.S. April S&P Global Services PMI Final: 50.8, below previous and expected values.
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U.S. April ISM Non-Manufacturing PMI: 51.6, above previous and expected values.
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U.S. denies Japan reciprocal tariff exemptions.
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U.S. Treasury Secretary Besant: A trade deal could be reached as early as this week.
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U.S. April seasonally adjusted non-farm payrolls: 177K, vs. 130K expected.
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U.S. April unemployment rate: 4.2%, meeting expectations.
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Trump: "I can accept a temporary U.S. economic recession."
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Trump states he is not concerned about an economic downturn during his term and will take full responsibility if tariffs impact the economy.
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Trump: Will not consider removing Powell before his term ends in 2026.
Industry Highlights
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U.S. SEC announces agenda and panelists for its May 12 tokenization roundtable, featuring executives from BlackRock, Fidelity, Nasdaq, and others. Theme: "Tokenization—On-Chain Assets: The Intersection of TradFi and DeFi."
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Draft discussion of the U.S. Digital Asset Regulatory Framework Act released, emphasizing disclosure and regulatory division of labor.
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South Korea’s Financial Services Commission: Starting June, non-profit organizations and exchanges can sell virtual assets under specific rules.
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Maldives plans to invest $9 billion to build a cryptocurrency hub to attract investment.
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EU plans to fully ban privacy coins and anonymous crypto transactions by 2027.
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Apple relaxes U.S. App Store rules related to cryptocurrencies.
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Arizona governor vetoes digital asset strategic reserve bill.
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Strategy purchased an additional 1,895 BTC last week at an average price of $95,167 per coin.
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Nvidia is exploring the possibility of adding Bitcoin to its balance sheet.
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PayPal to launch its first in-store payment feature in Germany.
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VanEck files S-1 for BNB ETF.
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U.S. SEC delays decision on Canary’s spot Litecoin ETF.
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Trump: "I want cryptocurrency because if we don’t, China will."
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Metaplanet to issue ¥3B zero-coupon bonds to buy more Bitcoin.
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BlackRock applies to U.S. SEC to use blockchain tech for its Treasury trust fund.
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Ondo expands its U.S. Treasury token USDY to Solana.
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CME Group’s April crypto derivatives volume up 129% YoY.
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Buffett to step down as Berkshire Hathaway CEO by year-end.
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Washington Post: 40% of young Americans invest in memecoins, hoping for financial freedom.
Project Highlights
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Hot Tokens: SUI, PENGU, VRA.
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DOGE: Dogecoin official responds to regulators no longer classifying Dogecoin as a memecoin.
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MAGIC: Treasure DAO extends funding runway to Fall 2026.
Weekly Outlook
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May 7: Ethereum Pectra upgrade goes live, optimizing staking and wallet features; NEON unlocks 22.51% of circulating supply, worth $6.2M.
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May 8: Fed FOMC rate decision; Fed Chair Powell’s monetary policy press conference; Coinbase earnings report.
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