A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it.

On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode".

The Federal Reserve's Schmid said that the overall economy is still strong. Inflation is still too high, and the Federal Reserve has more work to do. Interest rates may remain high for a period of time, and I prefer to reduce the Federal Reserve's balance sheet as much as possible under the premise of compliance with the operating framework. The low interest rate environment may "not necessarily" return.

Web3 supporter and a16z partner Chris Dixon (cdixon.eth) posted on social media that in the next two weeks, the House of Representatives will vote on the most important crypto legislation to date, the "21st Century Financial Innovation and Technology Act" (FIT21). We have long called for clear regulation to protect consumers and innovation, and the FIT21 bill will achieve this.

According to reports, Tether CEO Paolo Ardoino responded to comments made by Ripple CEO Brad Garlinghouse in a recent interview about the stablecoin Tether (USDT) on social media. Garlinghouse stated in the interview that the US government is pursuing Tether, which is clear to me. Ardoino said that an uninformed CEO leading a company under SEC investigation launched a competitive stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized Tether's critical role in providing financial services to unbanked communities in emerging and developing regions, which are often overlooked by traditional financial institutions. He further asserted that Tether adheres to strict transparency and regulatory compliance standards, as evidenced by its compliance with the OFAC/SDN list, its partnership with Chainalysis, and its extensive collaboration with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.

Swiss encrypted bank Amina stated in the latest "Cryptocurrency Market Monitoring" report that classifying Ethereum as a security could not only bring risks to the entire cryptocurrency market, but also lead to many cryptocurrency teams exiting the field. This determination could hinder the development of the cryptocurrency market and potentially reverse progress made over the years. In addition, the US SEC is likely to delay its decision on the status of Ethereum, putting the cryptocurrency asset in a "gray area".

1. Starbucks terminates its Odyssey NFT program

DappRadar data shows that the total transaction volume of NFT aggregation platform Blur has exceeded 9.5 billion US dollars, reaching 9.51 billion US dollars at the time of writing. The current total number of traders on the platform is about 381,910. Historical data shows that the transaction volume of the Blur platform exceeded 8 billion US dollars in mid-January this year and exceeded 9 billion US dollars in early March, which means that this indicator has increased by more than 5% in less than a month.

According to on-chain analyst Yu Jin, BLUR's January unlock has been transferred to Coinbase Prime one hour ago: 33.41 million BLUR ($22.49 million) was unlocked and transferred from the unlock contract to the 0x0A0 multi-signature address 35 hours ago, and then transferred to Coinbase Prime through the 0x0A0 multi-signature address one hour ago. Since the unlocking cycle of BLUR began on June 15, 2023, a total of 20% (616.8 million) of the total BLUR has been unlocked and transferred to Coinbase Prime.

DappRadar data shows that the total transaction volume of NFT aggregation platform Blur has exceeded 9 billion US dollars, reaching 9.19 billion US dollars at the time of writing this article. The total number of traders on the platform is currently about 376,400. Historical data shows that in mid-January of this year, the transaction volume of Blur platform exceeded 8 billion US dollars, which means that this indicator has increased by more than 12.5% in less than two months. In other NFT markets, the total transaction volume of OpenSea NFT market is about 36.55 billion US dollars, and the total number of traders is about 5.2 million; the total transaction volume of LooksRare is 4.86 billion US dollars, and the total number of traders is more than 156,000.