Gate Insights and Crypto Market Analysis

A South Korean National Assembly petition to abolish digital asset taxation reached 50,000 signatures on the 21st, meeting the threshold for referral to a standing committee. The petition, posted on the 13th, achieved this milestone in just eight days. The current digital asset taxation policy

Amazon founder Jeff Bezos, during a CNBC interview on May 20, publicly called for exempting the lowest 50% of income earners in the United States from all federal income taxes, using as an example a nurse in Queens earning $75,000 a year who pays over $12,000 in taxes annually, and saying, “A Queens nurse shouldn’t wire money to Washington.” Tax Foundation data: confirmed figures of the current federal tax structure The Tax Foundation data Bezos cited in the interview has been confirmed by publi

Based on Polymarket prediction platform data, “What price will NVIDIA reach in May?” The total contract trading volume has reached $510,000, indicating high market attention. Looking at the specific bet distribution, $240 accounts for a 30% probability weight, $248 is 20%, $256 is 7%, and $264 is 5%. On the downside, $192 has a 16% probability, $184 is 8%, $176 is 6%, $168 is 2%, while the probability of dropping below $160 is only 1%. This distribution is not a symmetric shape, suggesting that

According to CCN, the World Cup commemorative coin (WCC) is a speculative meme coin named after the 2026 FIFA World Cup event branding. As of May 21, its market cap is about 86,755 Dollars, and there are currently no verified records of any FIFA official authorization. FIFA’s official blockchain activities are carried out through the FIFA Collect platform; as of May, no crypto tokens or token economics models have been announced. FIFA’s Confirmed Official Blockchain Activities: FIFA Collect and

NVIDIA CEO Jensen Huang said in a CNBC interview on May 20 that NVIDIA has essentially ceded the China AI chip market to Huawei. When Huang made the remarks, NVIDIA also released its Q1 FY2027 financial report the same day, with revenue up 85% year over year to $81.6B. The Trump administration told NVIDIA in April that exporting chips to China and certain countries requires permits, causing NVIDIA to effectively exit the China market. Export Controls and China’s Return: Huang’s Formal Statement

On May 20, on-chain SocialFi trading card platform Fantasy.top announced that after two years of operation, it will stop all services at the end of June. The platform has cumulatively distributed more than $20 million to players and confirmed that investors will receive a full refund in a 1:1 ratio. Platform monthly revenue fell 93% from its May 2024 peak to about $200k in June 2025. Platform core data: the complete performance report from two years of operation In its announcement, Fantasy.top

NVIDIA announced its Q1 FY2027 financial results on May 20. Total revenue for the quarter ended April 26 was $81.6 billion, up 85% year over year and up 20% quarter over quarter, setting a company record high. Data center revenue growth of 92% year over year was the key driver. NVIDIA also issued its Q2 FY2027 outlook at $91.0 billion, which excludes revenue from China data centers. Segment financials: Data center $75.2B, Edge computing $6.4B Data center revenue in Q1 was $75.2 billion, up 21% q

On May 20, on-chain security firm Blockaid detected an attack on Butter Bridge V3.1, a cross-chain bridge component under MAP Protocol, on Ethereum and BSC. The attacker exploited a smart contract design flaw to induce the bridge contract to illegally mint roughly 10 trillion MAPO tokens directly to a newly created address, about 4.8 million times the 208 million MAPO in legitimate circulating supply. Attack Mechanism: Smart Contract Design Flaw in the Retry Message Verification Process Blockaid

DeFi organization YAM said in an X post on May 21 that, using proportional allocation, about $1.33 billion of Ethena’s USDe—out of its $4.4 billion in collateral funds—falls under “self-loans,” meaning Ethena indirectly provides funding for loans backed by USDe or sUSDe by using its liquidity share across various DeFi lending pools. YAM Calculation Results: Three Core Figures Under Proportional Allocation According to the calculation results listed in YAM’s post: Ethena self-loan estimate: about

SpaceX has secretly filed an S-1 draft with the U.S. Securities and Exchange Commission (SEC) on April 1 and plans to complete its initial public offering (IPO) on June 12 on Nasdaq under the stock ticker SPCX. The roadshow is expected to kick off around June 4. The S-1 document shows that the company’s revenue in the first quarter of 2026 will be $4.69 billion, with a GAAP net loss of $4.28 billion. Confirmed IPO Structure: Share Split, Retail Allocation, and Dual-Class Equity SpaceX completed

The Monetary Authority of Singapore (MAS) announced on May 21 that it has revoked the main payment institution license of the cryptocurrency liquidity provider Bsquared Technology (BSQ). The revocation order took effect on May 14. The direct reasons for this revocation include BSQ’s weak risk management, insufficient controls over conflicts of interest, violations in outsourcing arrangements, and repeated provision of false or misleading information during the license application and regulatory

Gurugram-based eyewear retailer Lenskart outlined an AI-central strategy for FY27 in a shareholder letter, positioning artificial intelligence as the core driver for scaling customer acquisition and eye testing across its business. The company plans to deploy AI across stores, factories, and custome

According to a May 21 report by Bitcoin.com News, the U.S. Office of the Comptroller of the Currency (OCC) has, beginning in December 2025, approved at least nine crypto companies to obtain national trust bank charters, including BitGo, Ripple, and Coinbase. In May, Senator Elizabeth Warren sent a letter to OCC Director Jonathan Gould, saying the approval actions were “improper.” OCC confirms approved trust charters: approval conditions and timelines for three companies Between December 2025 and

Bloomberg ETF analyst James Seyffart revealed on May 21 that Defiance ETFs has submitted to the SEC a new money market ETF application aimed at meeting the qualified reserve asset requirements under the GENIUS Act, with the goal of encouraging payment stablecoin issuers to invest in the fund. Technical positioning of Defiance ETFs’ application Defiance ETFs’ filing is intended to design the ETF’s underlying investment portfolio as an investment vehicle that meets the qualified reserve asset stan

Italian investigators traced €1 million in undeclared crypto gains through a Bitcoin Ordinals trading operation after analyzing activity tied to a seized Ledger wallet. Chainalysis detailed how blockchain records and exchange data helped reconstruct the alleged trading flows. Key Takeaways:

Bitcoin (BTC) rebounded from this week’s low, temporarily around $77,880 on May 21. The Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market ETFs. In its S-1 filing, SpaceX disclosed that it holds 18,712 BTC, currently worth approximately $1.45 billion. Macro Events & Crypto Hot Spots 1、Bloomberg ETF analyst Eric Balchunas wrote on X that the Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market

Ubisoft reported a record net loss of 1.5 billion euros (US$1.73 billion) for the year ended March 31, driven by game delays, restructuring costs, and seven project cancellations. The French video game maker is consolidating operations by grouping half its studios into five creative houses and

On May 21, TAC released an official post-incident analysis report regarding the May 11 TON-TAC asset bridge security incident. The root cause of the vulnerability was that the sorter software lacked key validation. The total loss was approximately $2.85M (involving USDT, BLUM, and tsTON). About 90% of the stolen assets have been returned to the multi-signature addresses controlled by TAC, and the TAC Foundation will cover the remaining $288k. Incident Root Cause and Attack Technical Details Acco

According to CoinTelegraph, on May 20, the office of Missouri Attorney General Kathleen Harnavey announced charges against GPD Holdings (doing business as CoinFlip), accusing it of knowingly assisting fraudulent transactions and profiting from them. The alleged scheme targets senior citizens and veterans, with a maximum fine of $1.83M. Confirmed details of the lawsuit allegations and requested relief According to the Missouri Attorney General’s official announcement, the full relief requested in

On May 21, Bitcoin rebounded to around $78,000. Citing Axios and three independent sources, U.S. President Trump and Israeli Prime Minister Netanyahu held a call on Tuesday regarding a U.S.-Iran diplomatic agreement described as “difficult” in tone. Qatar has submitted a latest draft agreement to both the U.S. and Iran, with regional mediators including Pakistan, Saudi Arabia, Turkey, and Egypt participating in synchronized revisions to the text; previously, a ceasefire between the two sides, wh