Ripple Reaches Settlement with SEC, Proposing $50 Million Resolution Deal

On May 9th, Lido made an announcement on social media that it is about to introduce a Dual Governance Mechanism. This Dual Governance Mechanism is a dynamic time lock mechanism, which enables stETH holders to choose to exit the Lido protocol on Ethereum when facing controversial Lido DAO governance proposals.

On May 9th, the CryptoQuant analyst Burak Kesmeci stated that starting from February 24, 2024, CryptoQuant's bull/bear market cycle indicator has been continuously issuing bear market signals. Nevertheless, in the past few days, the indicator has begun to show indications of a potential trend reversal. As Bitcoin regained the $100,000 level, the indicator once again flashed a bullish signal for the first time in weeks. Although this signal is still relatively weak at present (with a coefficient of 0.029), the positive turn itself is a bullish sign. More significantly, the Bull/Bear 30-day Moving Average (30DMA) has started to trend upward. If this indicator crosses above the Bull/Bear 365-day Moving Average (365DMA), historical data has shown that Bitcoin may once again experience a parabolic price surge.

On May 9th, as reported by The Block, U.S. Treasury Secretary Yellen severely criticized the Senate's decision to impede the progress of the "GENIUS Act" on Thursday. She regarded this as a wrong decision made against the backdrop of the escalating tensions arising from former President Trump's increasing engagement in cryptocurrency affairs and the concerns regarding specific provisions of the stablecoin legislation. Yellen stated on social media, "For stablecoins and other digital assets to thrive globally, the world requires U.S. leadership." She added, "The Senate failed to move forward with the 'GENIUS Act' today, missing a chance to provide this leadership." Yellen further stated that the bill presented a "once-in-a-lifetime opportunity" to expand the dominance of the U.S. dollar and enhance America's influence in financial innovation. She believed that without such legislation, stablecoins would continue to be regulated by a patchwork of state laws instead of a unified federal

On May 9th, according to an official announcement, OKX will remove VRA and MEMEFI perpetual contracts at 8:00 am (UTC+8) on May 13th, 2025.

On May 9th, CryptoQuant announced on social media that "The sentiment of Bitcoin has reversed. There is a rising trend in spot inflows, and Bitcoin's bull market index has soared from 20 to 80. A score exceeding 60 indicates a bullish sentiment, which supports price hikes."

On May 9th, Andrei Grachev, a partner of DWF Labs, posted on the X platform that he had just transferred some tokens to DWF Labs' public wallet. DWF Labs is currently in the process of actively purchasing various types of altcoins and will gradually send them to the wallet. Grachev further added: "Perhaps we will set up our own strategic reserve; we are still considering this."