New Hampshire Becomes First US State to Pass “Strategic Bitcoin Reserve” Law
According to an announcement by the Satoshi Action Fund, New Hampshire has become the first US state to enact a “Strategic Bitcoin Reserve” law by signing HB 302 into law. This law authorizes the state treasury to purchase digital assets, particularly Bitcoin, with a market value of over $500 billion, up to 5% of the total reserve. The reserves will be managed securely and transparently through multi-signature wallets or ETF-like structures.
China’s Central Bank Cuts Interest Rates and Reserve Requirements
People’s Bank of China Governor Pan Gongsheng announced that the reserve requirement ratio will be lowered by 0.5 percentage points and the policy interest rate by 0.1 percentage points. This move is expected to inject approximately 1 trillion yuan of long-term liquidity into the market. Additionally, the reserve ratio for some financial institutions will be reduced from 5% to 0%.
Bitwise Files for NEAR Spot ETF with SEC
Bitwise has filed an application for a spot ETF tracking NEAR tokens. The ETF will be custodied by Coinbase Custody. The trading symbol and fee rates have not yet been disclosed. Bitwise has also established “NEAR Trust” in Delaware and plans to submit a 19b-4 filing to the SEC to officially initiate the process.
Trump Family Project WLFI Transfers $4.5 Million Worth of Assets to Unknown Wallet
According to Onchain Lens data, WLFI transferred 103,911 AVAX, 5.98 million SEI, and 7.58 million MOVE tokens to an unknown wallet. The MOVE tokens were later redirected to the Ceffu wallet. The total value transferred amounts to 4.54 million dollars.
USDC Treasury Mints 250 Million Dollars in New USDC on the Solana Chain
Whale Alert reported that the USDC issuer minted 250 million dollars worth of new USDC on the Solana chain, while simultaneously removing approximately 94 million dollars worth of USDC from circulation on the Ethereum chain.
KULR Technology Increased Its Bitcoin Holdings to 716.2 BTC
KULR Technology, which trades on the NYSE, increased its total holdings to 716.2 BTC with the purchase of 42 new BTC. The total value of the BTC, with an average purchase price of $96,342, reached approximately $69 million.
BlackRock Purchased an Additional 5,613 BTC
According to Lookonchain, BlackRock purchased an additional 5,613 BTC (approximately $529.5 million) in its latest transaction. The company’s total BTC holdings now stand at 620,252 units, with a value of $58.51 billion. This is part of the 47,064 BTC purchased since April 21.
Metaplanet Issues $25 Million Interest-Free Bond to Fund Bitcoin Purchases
Metaplanet plans to finance its Bitcoin purchases by issuing a $25 million bond with a 0% interest rate and a 6-month maturity to EVO FUND. The bonds will be redeemed through stock subscriptions.
South Korean Presidential Candidate Promises to Approve Bitcoin ETFs
Democratic Party leader Lee Jae-myung has pledged to approve Bitcoin spot ETFs and implement crypto-friendly policies if elected. This announcement is seen as a significant shift in the country’s digital asset strategy.
Conflux Network to Burn 76 Million CFX, Stake 500 Million CFX
Conflux announced that it will burn 76 million CFX and stake 500 million CFX to balance the PoS interest rate. The burn will be recorded on the blockchain.
Berachain Boyco Airdrop Goes Live
The Berachain Foundation has announced the launch of the Boyco airdrop claim process. Participants must submit their reward claims through the relevant wallets and protocol websites.
SOL Strategies Purchases 122,524 SOL Tokens
SOL Strategies, listed on the Canadian Exchange, purchased 122,524 SOL tokens at an average price of $148.96. This investment was made through the completion of a $20 million ATW financing.
Movement Labs Reorganizes as Move Industries
Movement Labs has reorganized under the name “Move Industries.” A new governance structure and technical roadmap have been announced. Planned initiatives include MoveDrop airdrops and Parthenon projects.
Net Outflow of $85.6 Million in Bitcoin Spot ETFs
According to SoSoValue, Bitcoin spot ETFs saw a total net outflow of $85.6 million on May 6. BlackRock’s IBIT fund recorded an inflow of $36.7 million, while Grayscale’s GBTC fund saw an outflow of $89.9 million. Total ETF assets stand at $111.15 billion.
Ethereum Spot ETFs Saw a Net Outflow of $17.87 Million
On the same day, Ethereum spot ETFs saw a total outflow of $17.87 million. Fidelity’s FETH ETF accounted for the majority of this outflow. No ETFs showed net inflows by the end of the day. The total asset value of ETH ETFs was recorded at $6.18 billion.
by Darkex Research – 1 min read
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