New York Attorney General Letitia James announced that cryptocurrency platform Uphold has been ordered to pay $5 million in compensation to affected users for promoting the allegedly fraudulent cryptocurrency wealth management product CredEarn. The investigation shows that Uphold did not disclose that CredEarn's revenue comes from issuing high-risk small loans to low-income Chinese gamers, and the so-called insurance protection does not exist. In addition, Uphold has not obtained the necessary qualifications to register as a broker or commodity broker dealer. After Cred went bankrupt in 2020, a large number of users suffered losses. Uphold will compensate $5 million and return $545000 of funds recovered from Cred's bankruptcy proceedings in the future. （ny.gov）

[UnblockPay Completes $4.5 Million Seed Round Financing] According to Financialit, UnblockPay announced the completion of a $4.5 million seed round financing, led by Prelude, with participation from Plug and Play, Wintermute, Reverie, Signature Ventures, Triaxis Capital, Crescera Capital, and angel investors. The new funds will be used to develop regulated financial products, support businesses in integrating stablecoins, and enable the exchange between fiat currencies and stablecoins such as USDC and USDT.

According to the voting results of the dYdX Foundation's governance proposal, four trading pairs, AKT-USD, GNO-USD, MNRY-USD, and MOG-USD, have been approved to go offline in the market. A total of 16 out of 31 active validators and 124 accounts participated in this vote, with a voter turnout of 46.86%. 90.96% supported the proposal, 0% opposed it, and 9.04% abstained. The proposal was ultimately passed.

According to on chain analyst @ alicharts, Whale Address has accumulated over 140000 ETH worth approximately $322 million in the past 96 hours.

According to CCTV News, on May 3rd local time, the chairman of the Iranian Parliament's Civil Affairs Committee stated that the parliament plans to require all traffic passing through the Strait of Hormuz to obtain permission from Iran, prohibit the passage of Israeli goods, and require hostile countries at war with Iran to compensate for losses before passing.