Ethereum Drops Below $2600

On May 14th, as per the report by The Block, Commissioner Summer Mersinger of the Commodity Futures Trading Commission (CFTC) is set to leave her post to serve as the CEO of the Blockchain Association, which is the leading lobbying group for the cryptocurrency industry in Washington. The Blockchain Association announced on Wednesday that Summer Mersinger will assume the CEO position on June 2nd, with May 30th being her final day at the CFTC. It is reported that Summer Mersinger, who was nominated by former President Biden, served as a Republican Commissioner of the U.S. Commodity Futures Trading Commission (CFTC) and was sworn in in March 2022. During her time at the CFTC, she has advocated for the collaboration between the CFTC and the U.S. Securities and Exchange Commission (SEC) in 2023 to jointly establish a digital asset regulatory framework.

On May 14th, as monitored by on-chain data analyst Yu Jin, a whale address that recently purchased during the dip in TRUMP transferred 1 million TRUMP (approximately $13.37 million) to Binance 30 minutes ago, achieving a profit of $2.51 million.
This address withdrew this 1 million TRUMP from Binance on May 6th, with an average withdrawal price of $10.86. This was close to the lowest point since the TRUMP dinner plan. 30 minutes ago, the address transferred this 1 million TRUMP to Binance at an average price of 13.37, finally realizing a profit of $2.51 million.

On May 14th, according to BlockWorks, the blockchain development team Squads (which is building a multisig protocol on Solana) has launched an innovative product—Altitude. The solution is essentially a stablecoin-native account system that enables businesses to directly open a USD account and manage funds without depending on traditional banks or US-based entities. Moreover, Squads has announced that they have also obtained strategic investment from Haun Ventures. However, CEO Stepan Simkin has declined to disclose specific figures.

On May 14th, as per official channels, Tether declared the launch of QVAC (QuantumVerse Auto Computer), an infinitely intelligent development platform intended for both humans and machines. This allows highly scalable AI applications and agents to operate directly on local devices without depending on centralized services and cloud infrastructure. Consequently, it safeguards users against corporate access to private user data.

On May 14th, according to an official announcement, Bitget has declared the online commencement of U-based MYX and LAUNCHCOIN perpetual contracts, with leverage ranging from 1 to 20 times. The contract trading BOT will also be opened simultaneously.

On May 14th, at the opening of the US stock market, the Dow increased by 0.1%, the S&P 500 rose by 0.18%, and the Nasdaq went up by 0.3%. Regarding cryptocurrency stocks, there was a slight decline. Specifically, MicroStrategy (MSTR) decreased by 0.43%, Coinbase (COIN) rose by 0.57%, MARA Holdings (MARA) dropped by 0.76%, and Riot Blockchain (RIOT) went down by 1.44%.