Strategy Releases Q1 Financial Report
According to The Block, Strategy fell short of expectations in both revenue and profit in its first quarter financial results. Operating expenses surged by over 1,100% to reach $6 billion, with the majority of this increase stemming from $5.91 billion in unrealized losses related to the purchase of 80,715 BTC.
U.S. House of Representatives
U.S. House of Representatives Financial Services Committee Chairman French Hill is expected to release a draft regulation ahead of the May 6 hearing titled “American Innovation and the Future of Cryptocurrency.” The draft is anticipated to resemble the FIT 21 legislation approved last year and aim to clarify the regulatory framework for the U.S. cryptocurrency market.
China’s Ministry of Commerce: US Has Repeatedly Sent Proactive Information to China in Recent Period
China’s Ministry of Commerce said that the US has repeatedly expressed its willingness to negotiate on tariffs and has proactively shared information with China through relevant parties in recent times. The ministry said that China is evaluating the situation. Emphasizing that China’s position is clear, the statement said, “If we have to fight, we will fight; if we have to talk, our door is open.” It was noted that in order to create an environment conducive to negotiations, the US must demonstrate a sincere approach, correct its wrong practices, and remove unilateral tariffs.
Japanese Company Metaplanet
Metaplanet plans to issue zero-coupon bonds worth 3.6 billion yen (approximately 24.69 million dollars) to increase its Bitcoin reserves. This step demonstrates the Japanese publicly traded company’s commitment to expanding its Bitcoin strategy.
Tether CEO Defends Decision to Skip MiCA Registration for USDT
Tether CEO Paolo Ardoino defended the decision not to register with the European Union’s MiCA regulations, stating that these regulations are overly restrictive and risky for stablecoins. Tether continues to maintain a cautious approach toward regulations.
Blockchain Group Plans to Purchase 260,000 Bitcoin by 2033
According to Cointelegraph, Europe-based Blockchain Group aims to purchase a total of 260,000 Bitcoin by 2033. This purchase plan represents an investment of approximately $24 billion and reflects the company’s long-term crypto strategy.
Bitcoin Spot ETF Data
According to SoSoValue data, Bitcoin spot ETFs saw a net inflow of $422 million on May 1. The largest inflow, $351 million, went to BlackRock’s IBIT ETF, bringing its total net inflow to over $43 billion. The second-largest inflow, $41.9 million, went to Grayscale Bitcoin Mini Trust ETF BTC.
Ethereum Spot ETF Data
Ethereum spot ETFs recorded a net inflow of $64.932 million on May 1. The largest single-day inflow was $119.84 million, provided by Grayscale Ethereum Mini Trust ETF ETH. Only Grayscale Ethereum Trust ETF ETHE reported a net outflow. Fidelity’s FETH ETF came in second with an inflow of $64.684 million.
