Before the US House of Representatives voted on H.J. Res. 109 (which seeks to overturn the SEC's SAB 121 regulation on digital assets), President Biden issued a threat stating that he may use his veto power if a resolution to overturn the SEC's policy is passed. The White House stated that it "strongly opposes" House members' attempts to undermine the SEC's measures to "protect cryptocurrency market investors and protect the broader financial system." Additionally, the SEC can decide to revoke SAB 121 to avoid forcing Biden to decide whether to exercise his veto power.

On May 18th, Chaos Labs, the partner of LayerZero's witch detection, founder Omer, released the process of monitoring witches on social media. Omer stated that the principle of detection is to ensure that real users are not harmed, maximize accuracy, and screen out the "scientist" addresses of mass account creation for airdrop hunters.

TON Foundation announced on its official Telegram channel that the Open League Season 2 will start on May 2nd. The participating projects for the second season are: KINGY, PUNK, STON, DFC, RAFF, FNZ, JETTON, GRAM, as well as new additions JVT, ANON, WEB3, REDO, and BTC25. All participants can receive a maximum of 25K Toncoin LP rewards. The rule updates for the second season include: shortening the season to 2 weeks; simplifying the leaderboard to applications, token major and minor leagues.

The Data Nerd reported that 18 hours ago, Whale 0x03b deposited 2 million ENA tokens (approximately $1.61 million) into Binance. If sold at the current price, they would lose approximately $1.15 million (with a total actual loss of $3.47 million for their ENA holdings). Three weeks ago, they accumulated 9.33 million ENA tokens at an average entry price of $1.38 and currently have 2 million ENA tokens staked.

Ryan Selkis, the founder and CEO of Messari, expressed his personal views on the potential impact of Joe Biden's re-election on the US cryptocurrency industry. He expressed concern about the Biden administration's handling of cryptocurrency regulation, particularly highlighting the influence of Senator Elizabeth Warren. Selkis commented on the X platform that Biden's second term would result in a large amount of wealth being confiscated and cryptocurrency being seized.

On April 27th, the Italian securities regulator Consob accused multiple forex websites of illegally promoting trading products in Italy and has contacted Italian internet service providers (ISPs) to block access to all problematic websites. This move aims to protect Italian investors from potential fraud or unauthorized investment plans. The websites involved in this case include Luno Invest, Vantage Global Limited, Capital4it Ltd, Crypto Trade Club Ltd, and Amlight-italiainvestment.

The current landscape of emerging technologies like blockchain, web3, ai-related solutions and others is paving the way for what I see as the rise of composable culture (or modular culture as one of my peers said1). While I have been hinting the concept in my writings before, an explanation of why an there should be an umbrella term, what are it’s characteristics and advantages is needed.

Web3 game information platform GAM3S.GG announced the completion of a $2 million strategic round of financing. Polygon co-founder Sandeep Nailwal, YGG co-founder Gabby Dizon, Sky Mavis & Ronin co-founder Jiho Zirlin, LiquidX co-founder Giulio Xiloyannis, as well as Merit Circle, WWVentures, Cogitent Ventures, P2 Ventures, Cypher Capital, Acheron, Basics Capital, OIG Capital, BreederDAO, MetaBros, Hercules Ventures, BasementDAO and other institutions participated in the investment. The new funds will be used to promote the launch of their native token G3. According to the previously announced airdrop details, this airdrop activity is said to distribute 50 million G3 tokens, accounting for 5% of the total supply, and will be conducted in three phases:

Data tracked by cryptocurrency financial services company Galaxy Digital shows that cryptocurrency venture capital firms raised only $5.8 billion last year, lower than $37.7 billion in 2022 and $20.6 billion the previous year.

The blockchain gaming guild Yield Guild Games (YGG) has begun exploring the next major evolution, which is to transform from a blockchain gaming guild to a blockchain gaming guild protocol. It is reported that YGG hopes to become an infrastructure layer, enabling all guilds to exist and thrive whether on the chain or in the game, while considering using tokenized credentials and tools to manage assets and roles, as well as deep integration with blockchain games. Currently, YGG has begun helping other guilds develop through transparent, composable, and interoperable on-chain assets and tools.