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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 Onchain Lens monitoring, the whale Loracle.hl (@loraclexyz) has once again accurately shorted CRBS. In the past 24 hours, it has opened a $9.5 million 5x short position on CRBS, with an unrealized profit of over $400,000.

According to Protos, Myanmar has proposed introducing the death penalty for criminals who use violent means to coerce victims into participating in cryptocurrency scam centers. According to the draft of the country's Anti-Cyber Fraud Bill, criminals who use violence, torture, illegal arrest and detention, or cruel treatment against others to force them to commit cyber fraud will be sentenced to death.The bill will be submitted to parliament for review in June. In addition, operators of scam centers or perpetrators of cryptocurrency scams will face life imprisonment. Last month, the President of Myanmar reduced all death sentences to life imprisonment.

Block's Bitcoin open-source development department Spiral has launched a free AI vulnerability scanning tool Loupe for open-source Bitcoin projects, supporting continuous security scanning, aimed at helping small and medium-sized development teams enhance their security auditing capabilities.

The U.S. Attorney's Office for the Southern District of New York stated in a court filing on Tuesday that Roni Cohen-Pavon, the former Chief Revenue Officer of the defunct crypto lending platform Celsius, has agreed to a forfeiture judgment of $1.07 million, representing the proceeds traceable to his criminal conduct. Cohen-Pavon pleaded guilty in September 2023 to charges of fraud and conspiracy to manipulate the price related to Celsius's CEL token, and is scheduled to be sentenced this Thursday. Cohen-Pavon's lawyer previously requested a sentence of time served, citing his cooperation agreement with the government and his potential role in the guilty plea of former Celsius CEO Alex Mashinsky.Mashinsky was sentenced to 12 years in prison in May 2025 for commodity and securities fraud and agreed to forfeit over $48 million. In a letter to the judge, Cohen-Pavon stated, "I plead guilty because I am guilty. I participated in the manipulation of the CEL token. I should have stopped it but did not, I could have left but did not. I take full responsibility for this."Additionally, on Thursday, Judge Lewis Kaplan of the same court ordered that $10 million in assets associated with former FTX CEO Sam Bankman-Fried be used to fulfill his forfeiture agreement. Bankman-Fried was sentenced to 25 years in prison for defrauding FTX users and investors and is subject to over $11 billion in forfeiture. His appeal to overturn the conviction and sentence is still pending.

According to Jinshi News, JPMorgan stated that investor panic is rapidly escalating, and many clients have turned fully bearish on the stock market. Despite the pessimistic market sentiment, JPMorgan's traders still advise clients to remain calm amid market volatility and not to panic.

According to monitoring by Hyperinsight, a certain whale shorted 100 BTC on Hyperliquid with 40x leverage, worth approximately $8.07 million, at an average price of $80,958, with a liquidation price of $82,209. Currently, this position has an unrealized profit of about 7%.As of the time of writing, this whale has a stop-loss order planned if the price rises to $81,150. Over the past month, it has opened and closed a total of 61 positions, with an overall profit of only $50,700. Address: 0xcab59c7a92b8f7c4d5cde72bb7669ee7d75b6e6.

According to monitoring by Hyperinsight, a giant whale on Hyperliquid opened long positions in both ETH and BTC, going long on 17,409 ETH (worth approximately $40,100,000) with 20x leverage, and a liquidation price of $78,008; and going long on 493.4 BTC (worth approximately $40,000,000) with 20x leverage, and a liquidation price of $2,227. Currently, the total positions exceed $80,000,000, with an unrealized profit of $210,000. Address: 0x049bdc370620beab340b01072fa580fd57745e7d.

According to official social media news, Huobi HTX will hold a themed live broadcast event titled "NACHO vs TACO: New Market Logic Under the Hormuz Stalemate" today at 8 PM. At that time, crypto KOLs such as Sister Mao, OxPink, the Sincere Little Taoist, and Mo Ran will be invited to attend and discuss popular topics such as the changes in global risk asset pricing logic against the backdrop of the ongoing Hormuz Strait stalemate, the linkage effects between commodities and the crypto market, as well as the future trends of BTC and the evolution of market risk aversion sentiment.

According to monitoring by Hyperinsight, ZEC has fallen from its peak to around $550. The "largest short seller of ZEC" continued to stop-loss and reduce their ZEC short position in the afternoon, with a cumulative closing scale exceeding $5 million. This address previously had a ZEC short position of $12.6 million, and after the reduction, the remaining position is about $8.02 million, with a current floating loss of about $1.17 million.This short position was opened on March 10 at an average price of about $210, coinciding with a recent local low. At one point, the floating loss reached as high as $2.4 million, enduring several months of holding and averaging down until ZEC experienced a phase correction.The margin released from reducing ZEC was quickly redirected by this address to short BTC and ETH: a BTC short position was opened shorting 160 coins with 20x leverage, briefly pushing the scale up to $13 million, with an average price of $80,441; an ETH short position was opened shorting 1,866 coins with 15x leverage, with a scale of $4.27 million, at an average price of $2,286. As of the time of writing, both short positions are still being increased.

Analyst Murphy has released a bearish signal analysis for Bitcoin at a small scale. Currently, the CVD of Binance perpetual contracts has rapidly declined from the April high and has fallen below the 90-day median. This indicates that market bulls are unwilling to continue chasing higher prices, and bears are starting to actively sell short. The spot CVD has also begun to "peak and turn down." Historically, when this indicator turns, prices often follow with a correction, similar to November 2024 and April 2025. However, the key difference in the current market compared to the past is that the BTC CVD indicator on Coinbase remains steadily above the 90-day median line.During the same period, the 30-day net purchases of Bitcoin spot ETFs have not shown a significant decrease, and funds in the U.S. market are still supporting it. Analysts state that shorting in the short term remains a high-risk behavior, and bears still need to wait for bearish sentiment to dominate on Binance, as well as for U.S. investors' spot buying to gradually withdraw.

According to monitoring by Hyperinsight, a certain whale on the Hyperliquid platform made a large long position when the BTC price was around $81,000, going long on 288.98 BTC with 10x leverage, with a position value of approximately $23.48 million, an average price of $81,000, and a current floating profit of about $77,000 (+3%). The liquidation price is at $73,817. It is reported that this whale has placed a sell order at $84,000, planning to fully take profit at this level, with the target profit range about $2,700 away from the current price. Address: 0x8ca341db4a455dec932ed6a29b16e75fa06ac22d.

According to SoSoValue data, the total net outflow of Ethereum spot ETFs is $16.8868 million. The Ethereum spot ETF with the highest single-day net inflow is the Blackrock ETF ETHA, with a single-day net inflow of $2.1186 million, and the historical total net inflow of ETHA has reached $11.999 billion. The Ethereum spot ETF with the highest single-day net outflow is the Grayscale Ethereum Trust ETF ETHE, with a single-day net outflow of $7.587 million, and the historical total net outflow of ETHE has reached $5.272 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $13.85 billion, and the ETF net asset ratio (the market value as a percentage of Ethereum's total market value) is 4.91%, with a historical cumulative net inflow of $12.07 billion.

The Sun Wukong Ecology announced that it will hold an in-depth roundtable discussion on May 12 at 20:00 on the X platform, with the theme "B.AI User Scale and Ecological Expansion Acceleration, Will AI Transfer Stations Become Core Infrastructure in the Agent Era?"It is reported that this event will focus on the critical stage of the AI industry’s transformation towards "application efficiency and entry competition." Guests will discuss the competitive landscape of entry points against the backdrop of tool fragmentation, analyze the logic of the explosion of AI Agents combined with Crypto and stablecoin settlement systems, and engage in in-depth exchanges on how B.AI builds the next generation of AI infrastructure networks through multi-model scheduling, Agent payments, on-chain identity, and automated collaboration.

Grayscale has submitted a Zcash spot ETF application, converting the existing Zcash trust into a spot product, becoming the first privacy coin ETF seeking to be listed in the United States. At the same time, Multicoin Capital disclosed that it has been continuously building a position in ZEC since February, with co-founder Tushar Jain linking the investment logic to the proposed wealth tax legislation in the U.S., believing that the government's expansion of monitoring private financial holdings will drive structural demand for assets that shield regulation on a mathematical level.However, this application has also raised institutional custody challenges: approximately 30% of Zcash's supply is located in shielded address pools, the highest in history, but ETF custody must almost exclusively use transparent address pools to meet audit and balance proof requirements. Previously, the SEC concluded its long-term review of Zcash in January 2026 without taking enforcement action, significantly reducing regulatory uncertainty.

a16z Crypto published an article explaining the investment logic behind Arc, pointing out that stablecoins have evolved from tools for crypto trading to a core layer of global financial infrastructure, driving the upgrade of blockchain from "application layer finance" to "system-level economic operating systems."The trading volume of stablecoins reached approximately $9 trillion last year, placing them on the same scale as global payment networks like Visa and PayPal. The total supply of US dollar stablecoins has also exceeded $270 billion, with cross-border payments, B2B settlements, and foreign exchange trading becoming the core use cases for stablecoins, gradually making them the "upgrade layer for global capital flows."a16z Crypto stated that the existing blockchain infrastructure is still primarily aimed at crypto-native users and individual developers, lacking native support for large institutional-level demands. The reason for participating in the ecosystem construction related to ARC tokens is mainly due to the gradual on-chain transition of global finance; in the future, only a few public chains will be able to support the "on-chain economic system foundation."

According to a report by CoinGecko, as of March 31, 2026, the market value of tokenized real-world assets (RWA) reached $19.32 billion, a growth of 256.7% from $5.42 billion at the beginning of 2025. Among them, tokenized U.S. Treasury bonds remain the largest category, with a scale exceeding $10 billion; tokenized commodities increased to $5.55 billion, mainly driven by gold-backed tokens XAUT and PAXG.The report also stated that in the first quarter of 2026, the trading volume of tokenized gold spot reached $90.7 billion, and the trading volume of tokenized stock spot reached $15.1 billion, both exceeding the levels of the corresponding period in 2025. During the same period, the total trading volume of RWA perpetual contracts rose to $524.8 billion.

According to market news, Grayscale plans to launch an ETF focused on Cardano by the end of 2026, with the expected trading code GADA.The product will convert Grayscale's existing Cardano trust into a publicly traded ETF. If the existing regulatory documents are activated in mid-August, it may trigger a simplified review process by the SEC, allowing trading to begin as early as late October 2026. Recently, Grayscale has made slight adjustments to the asset allocation in its smart contract fund, increasing the weight of Cardano from approximately 17.96% to 18.33%, while reducing exposure to other assets like Ethereum.

Adeniyi Abiodun, co-founder and Chief Product Officer of Mysten Labs, posted on the X platform that confidential transactions will be launched on the Sui network this year, enabling large-scale, free, and privacy-protected payments.