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According to Gate market data, U.S. stocks closed with the Dow Jones Industrial Average down 1.07%, the S&P 500 down 1.24%, and the Nasdaq Composite down 1.54%. Technology stocks generally fell, with Micron Technology down 6.62%, Intel down 6.18%, NVIDIA down 4.42%, and Tesla down 4.75%.

According to Cointelegraph, multiple analysts have pointed out that Ethereum faces downside risks, with ETH potentially dropping another 20% to the $1,700 range. The increase in holdings on trading platforms and the decline in ETF demand are the main sources of pressure.CryptoQuant analyst BorisD noted that from May 5 to May 9, the ETH reserves on Binance surged from 3.36 million to 3.84 million, while the price dropped 7% from $2,390 to $2,260 during the same period. He stated, "This indicates that liquidity is being absorbed and distributed simultaneously. The overall structure still points to dominant downside risks."Another analyst, PelinayPA, shares the same view, believing that any short-term rebound will "be accompanied by high volatility, followed by a continuation of a broader downward trend," and added, "A large amount of ETH continues to flow into trading platforms, creating significant resistance to price increases." The net inflow of ETH to trading platforms surged to 585,000, marking the largest single-day inflow since December 2025—at that time, the ETH price was around $3,000, which subsequently dropped to $1,750 in February this year, a decline of 42%. Such large-scale inflows typically indicate that large holders are offloading.Meanwhile, the demand for spot Ethereum ETFs continues to weaken, recording net outflows for four consecutive days, with a total outflow amounting to $190 million. From a technical perspective, the ETH daily chart shows that the ascending wedge pattern has broken below the support level of $2,280. If the daily closing price confirms a break below, the target will point to the wedge measurement target of $1,725, a 22% drop from the current price, aligning with the macro low on February 6 of this year.Analyst ShangoTrades stated that this breakdown "is starting to become concerning." From a longer-term perspective, analyst CryptoBullGod pointed out that the measurement target for the ETH weekly bear flag pattern is $1,280.

According to Decrypt, the price of Bitcoin remains around $80,350, with a short-term increase of only 0.8%, continuing to face pressure after multiple attempts to break through the $82,000 resistance level failed. This range is seen as a combined resistance level of the ETF cost line, the 200-day moving average, and the CME gap filling area. Although the U.S. CLARITY Act has passed the Senate Banking Committee, bringing positive expectations for crypto regulation, institutional funds continue to withdraw.Data shows that the net outflow of the U.S. spot Bitcoin ETF has decreased to an average of -$88 million per day over the past seven days, marking the largest outflow since mid-February. Analysts believe that this round of selling pressure is more about "profit-taking" rather than panic selling. On a macro level, rising U.S. Treasury yields have become a core source of pressure. The yield on the U.S. 10-year Treasury bond has risen to about 4.52%, reaching a 10-month high, while the April CPI has increased by 3.8% year-on-year, the highest level in three years, further delaying market expectations for a Federal Reserve interest rate cut.Analysts point out that geopolitical conflicts are driving up energy prices, exacerbating inflationary pressures, thereby weakening the appeal of risk assets. From an institutional perspective, some analysts believe that the current outflow of ETF funds is part of portfolio rebalancing rather than a trend-based withdrawal.The options market shows that Bitcoin faces significant resistance in the $82,000-$84,000 range, while $77,000 is a key support level. If the price falls below this range and leverage does not cool down, the market may enter a deleveraging phase, increasing the risk of a correction.

According to Jinshi reports, major European stock indices continued to decline, with the German DAX30 index and the Italian FTSE MIB index falling more than 2%, the UK FTSE 100 index and the Euro Stoxx 50 index dropping nearly 2%, and the French CAC40 index down 1.6%.

According to Crowdfund Insider, digital bank Revolut announced that its trading division, Revolut Trading Ltd, has received an extension of permissions approved by the UK's Financial Conduct Authority (FCA) to launch more comprehensive investment and wealth management services in the UK market.Under the newly approved Variation of Permissions (VoP) license, Revolut can now manage investment portfolios for clients and participate in certain transactions as a principal. This means that the platform will be able to offer leveraged investment products, professionally managed portfolios, and customized wealth management services for high-net-worth users in the future, all of which will be integrated into its mobile application, alongside everyday banking and payment tools.It is reported that Revolut plans to further introduce AI-driven portfolio recommendation tools, continuing its transformation into a "one-stop financial platform." Earlier this year, Revolut officially obtained a full banking license in the UK. Analysts believe that the FCA's approval indicates an increase in its maturity as a regulated financial institution, while also reflecting that fintech companies are accelerating their competition with traditional banks and wealth management institutions.

According to the disclosure on the Strategy official website (Form 8-K, May 15), Strategy announced plans to repurchase $1.5 billion of convertible bonds maturing in 2029.At the same time, the company opened voting on the STRC semi-monthly dividend amendment to STRC and MSTR holders.

According to a16z crypto, on May 14, the U.S. Senate Banking Committee voted in a bipartisan manner to advance the "Digital Asset Market CLARITY Act" (CLARITY), marking a historic step in the legislative framework for the U.S. crypto market. The CLARITY Act aims to establish a clear regulatory framework for blockchain networks and digital assets, with core content including: clarifying the regulatory boundaries between the SEC and CFTC regarding crypto assets, regulating the operations of crypto exchanges, protecting consumer rights, and providing a clear path for compliant operation of blockchain networks in the U.S.a16z pointed out that the U.S. has relied on "regulatory enforcement instead of legislation" over the past decade, which not only distorts the market and stifles innovation but also gives rise to a large number of regulatory arbitrage activities, leading many crypto projects to move overseas. The bill references the 2024 FIT21 Act and the 2025 House version of the CLARITY Act, and further improves upon them. Currently, the two drafts from the Senate Banking Committee and the Agriculture Committee will be merged into a unified bill, which will be submitted for a full Senate vote, and after passing, will also require approval from the House of Representatives and the President's signature to officially take effect.a16z compares this legislative progress to the historical significance of the 1933 Securities Act and cites the precedent of explosive growth in the industry following the passage of the GENIUS stablecoin bill, believing that once CLARITY is implemented, it will usher in a new wave of innovation for the U.S. crypto industry.

According to Gate market data, the three major indices of the US stock market generally fell before the market opened, with the Nasdaq down 1.24%, the Dow down 0.44%, and the S&P 500 down 0.78%.Most of the seven major tech stocks fell before the market opened, with Apple (AAPL) down 0.66%, Microsoft (MSFT) up 0.7%, Alphabet (GOOGL) down 1.57%, Amazon (AMZN) down 1.36%, Nvidia (NVDA) down 2.08%, Tesla (TSLA) down 1.72%, and Meta (META) down 1.35%.

The South Korean cryptocurrency exchange Upbit announced that due to the hard fork upgrade of the Polygon network, it will suspend the deposit and withdrawal services for related assets starting from May 21, 2026, at 20:00 (KST), until the network stability is restored.The affected assets include Polygon Ecosystem Token (POL), STEPN (GMT), and NFT assets based on the Polygon network.The announcement stated that this suspension only involves on-chain deposit and withdrawal functions, and spot trading will not be affected.Upbit reminds users that transfers made before and after the suspension may experience delays or may not be credited, and related processing will be carried out in order after the network is restored.

Cryptocurrency market maker and liquidity provider B2C2 has obtained a crypto asset service provider (CASP) license issued by the Luxembourg Financial Supervisory Authority (CSSF), officially incorporating it into the EU's Markets in Crypto-Assets Regulation (MiCA) framework.With this license, B2C2 can provide over-the-counter spot trading services across the 27 EU member states and some European Economic Area countries through the MiCA "passporting mechanism," achieving unified compliance for cross-border digital asset liquidity access. The company stated that this approval makes it one of the first global OTC liquidity providers authorized under the MiCA framework, having previously completed VASP registration in Luxembourg in 2024.B2C2 CEO Thomas Restout stated that obtaining MiCA authorization reflects the company's long-term commitment to compliance and governance, and will further enhance its service capabilities in the institutional crypto market. As the MiCA transition period approaches (expected to end in July 2026), more and more crypto companies are accelerating their compliance efforts in the EU, including Coinbase and Kraken, which are also advancing their licensing systems in different jurisdictions in Europe.

According to CoinGlass data, Brent crude oil (XBR) is currently priced at $102.78, up 0.68% in 24 hours; WTI crude oil (XTI) is currently priced at $98.45, up 1.33% in 24 hours, with active trading in oil-related contracts. Among them, for XBR, the trading volume on the Gate platform is approximately $5.45 million, ranking first across the network; for XTI, the trading pair XTI/USDT has a 24-hour trading volume of approximately $3.4613 million, maintaining high market attention, reflecting the platform's liquidity and product advantages in the oil derivatives market.In addition, Gate has renamed the trading symbol for the XBR perpetual contract to BZ and officially launched the BZ perpetual contract; at the same time, the trading symbol for the XTI perpetual contract has been renamed to CL and officially launched the CL perpetual contract. This only involves adjustments to the trading symbols, while the contract underlying and trading rules remain unchanged. Gate will further improve the product system for oil derivatives on the platform.Gate contracts have taken the lead in the oil market, pioneering the commodity contract sector, covering XBRUSDT (Brent crude oil) and WTIUSDT (WTI crude oil) perpetual contract trading, providing 24/7 trading, USDT settlement, and up to 100 times leverage, assisting users in cross-market asset allocation and strategic layout in volatile markets.

According to Money Today, the Financial Services Commission of South Korea will announce detailed rules for tokenized securities in July, preparing for implementation in February next year. The country's financial authorities will allow the issuance of fragmented investment securities by bundling various underlying assets and will develop a roadmap for the tokenization of traditional securities such as stocks and bonds.The Financial Services Commission stated that previously it was prohibited to bundle underlying assets for the issuance of fragmented securities, but now it plans to allow bundling of similar assets within a certain scope. The Commission emphasized that market order and investor protection are fundamental prerequisites, but regulation will not be the primary focus. The annual investment limit for fragmented investment securities issuance platforms is set at 10 million to 20 million Korean won, with crowdfunding limited to 5 million won per project, totaling 10 million won. The annual selling limit for over-the-counter trading of non-listed stocks is 300 million won, while for investment contract securities in over-the-counter trading, it is 40 million won.

The lending protocol HyperLend on HyperEVM tweeted that it will gradually stop the USDH lending service process. Within 48 hours, users will not be able to continue providing or borrowing USDH on HyperLend. Meanwhile, the team encourages users to actively repay any USDH loans they hold.Previously, it was reported that Coinbase has become the official USDC fund deployment agency for Hyperliquid, and USDH will gradually exit the market over time. As part of this collaboration, Native Markets has agreed to grant Coinbase the right to purchase USDH brand assets. In the coming months, users will continue to exchange USDH for USDC or fiat currency through the USDH dashboard of Native Markets without any fees.

The founder of the AI agency platform Bankr, deployer, tweeted that he has raised about $100,000 to provide free LLM inference services for Bankr ecosystem projects. Projects currently being built in the Bankr ecosystem will soon be able to access free inference credits. However, before officially starting the distribution, the team will first launch a new feature that "the entire industry will love," with specific details to be announced later.

According to official news, 21Shares announced the launch of an actively managed crypto ETF, code TKNS. The fund is managed by a professional team and aims to capture market opportunities and outperform passive index funds. The portfolio manager will adjust holdings based on market conditions to balance long-term goals with short-term opportunities. The fund operates like a standard stock ETF, with simplified tax reporting, and is currently tradable on certain brokerage platforms.

Federal Reserve Governor Stephen Milan officially submitted his resignation on Thursday, stating that he would vacate his seat on the Federal Reserve Board at or before the inauguration of the new chairman, Kevin Warsh.Milan took over her position on the board after Adriana Kugler's sudden resignation in August 2025. Milan has played a dissenting role in the Federal Open Market Committee (FOMC), which is responsible for setting interest rates. In the six FOMC meetings he attended, he voted "no" each time.He stated that he believes personal consumption expenditures (PCE) inflation, particularly in housing, will gradually return to normal levels, and reiterated that, given the lagging nature of monetary policy, he believes it is necessary to cut interest rates.Milan has consistently advocated for lower interest rates and opposed the three rate cuts of 25 basis points each approved by the FOMC in 2025, as he supported larger cuts. This year, he voted three times against the decision to maintain interest rates, instead supporting a 25 basis point cut.Additionally, he mentioned that he has been pushing for a more forward-looking monetary policy approach and believes the Federal Reserve "needs to better consider non-monetary factors and their impact on monetary policy." He specifically pointed out the effects of slowing population growth and reduced immigration on employment, as well as the deflationary pressures brought about by regulatory easing.

According to Gate market data, U.S. stocks closed higher on Thursday, with the Dow Jones Industrial Average initially rising 0.75%, the S&P 500 index up 0.77%, and the Nasdaq Composite index up 0.88%, with the latter two reaching new highs. Nvidia (NVDA.O) rose over 4%, with a market capitalization exceeding $5.7 trillion, setting a new historical high. New stock Cerebras rose 68%, while Qualcomm (QCOM.O) fell 6%. The Nasdaq China Golden Dragon Index closed down 3.3%, with Baidu (BIDU.O) down 4.7% and Alibaba (BABA.N) down 3%.

TownSquare, focused on institutional yield and cross-chain lending brokerage services, announced the launch of a $100 million USD1 token liquidity program. This initiative aims to promote institutional yield and cross-chain returns to more users through institutional yield strategies using the USD1 stablecoin from the World Liberty Financial platform.Previously, TownSquare collaborated with the World Liberty Financial DeFi team to introduce the USD1 token to the high-performance EVM chain Monad and received official incentives from the Monad Foundation. The team officially stated that this new liquidity program marks TownSquare's ongoing commitment to expanding the application of DeFi and bringing institutional strategy yields to more assets. Currently, the project's official website has launched cross-chain lending functionality, and the yield-generating product is in an upcoming state.According to official information, the project has previously completed a round of financing supported by Monad, a16z, Aptos, Solana Bonk, as well as other angel investors and a number of VCs from Europe and America. The team consists of founders with backgrounds from Coinbase, Meta, Accenture, and market makers. Information about the project's new round of financing has not yet been announced.

According to Gate market data, the three major U.S. stock indices generally rose before the market opened, with the Nasdaq up 0.11%, the Dow up 0.34%, and the S&P 500 up 0.2%.The seven major tech stocks generally fell before the market opened, with Apple (AAPL) up 0.51%, Microsoft (MSFT) up 0.59%, Alphabet (GOOGL) up 0.01%, Amazon (AMZN) up 0.06%, Nvidia (NVDA) up 2.05%, Tesla (TSLA) up 0.37%, and Meta (META) up 0.42%.