Avenir Group holds IBIT Bitcoin ETF with a market value of approximately $702 million

Dingdian Financial announced that it has completed the Hong Kong dollar stablecoin HKDAP transfer test on the Ethereum chain, covering the process of converting legal Hong Kong dollar funds into reserve assets. All HKDAP have been fully redeemed and are expected to be issued in stages later this year. (Hong Kong Economic Times)

BNB Ecological DeFi Platform Eleutheria announced the completion of a $5 million strategic round of funding, with Alpha Capital participating. The valuation has not been disclosed yet, and the new funds will be used to build on chain financial services.

[Lummis: Major Banks Obstructing Crypto Regulatory Legislation] According to Cryptopolitan, U.S. Senator Lummis stated in an interview with CNBC that major banks, unable to compete with the crypto industry, are attempting to block legislation aimed at clarifying cryptocurrency regulations. She emphasized that the adoption of Bitcoin is unstoppable and described it as the future of the financial system.

[Strategy to Repurchase $1.5 Billion Convertible Bonds] According to Strategy's official website disclosure (Form 8-K, May 15), Strategy announced plans to repurchase $1.5 billion of convertible bonds maturing in 2029 and opened voting to STRC and MSTR holders regarding the STRC semi-monthly dividend amendment.

[CoinShares: $920 Million Net Outflow from Crypto Market This Week] According to a tweet from CoinShares, the cryptocurrency market recorded a net outflow of $920 million this week. In the short term, higher-than-expected PPI data, the U.S.-Iran conflict driving up oil prices, and limited room for Federal Reserve rate cuts have contributed to Bitcoin's 1.4% decline this week. The U.S. Senate Banking Committee passed the 'Clarity Act' with 15 votes in favor and 9 against, signaling a clearer direction for long-term regulation. CoinShares noted that the market is currently facing a tug-of-war between short-term macroeconomic pressures and long-term regulatory benefits.