Today’s News Highlights (You Can Follow)

#1. Performance of U.S. Stocks and Crypto Stocks (Last Night’s Close)
All three major U.S. stock indices closed higher collectively. The Nasdaq rose 0.49% to set a new all-time high again, while the Dow Jones and the S&P rose 0.13% and 0.27%, respectively. Crypto-related stocks diverged: Coinbase (COIN) rose 1.99%, while Robinhood (HOOD) fell 1.92%. Overall market risk appetite rebounded, and the ongoing linkage between traditional finance and the crypto market continued to strengthen.
#2. Stablecoin Regulation Keeps Moving Forward (FDIC New Rules)
The FDIC stablecoin regulation draft (191 pages) has officially been rolled out. Key points: only regulated banks can issue stablecoins, and non-bank institutions are basically out of the picture; stablecoins must be backed 1:1, and they are limited to zero-risk, highly liquid assets such as cash and short-term U.S. Treasuries. This move will bring stablecoins fully into the banking system, and private stablecoins such as USDT and USDC will face compliance and transformation pressure in the future.
#3. Wall Street Deeply Deploys Crypto (Goldman Sachs’ New Move)
Goldman Sachs has officially submitted a Bitcoin covered-call ETF application. The product earns premiums by selling Bitcoin options, swapping part of the upside gains for stable cash flow, aiming at conservative institutions and retail investors. This marks the full introduction of mature options strategies into crypto by Wall Street, ushering in a new era of traditional “yield-collection” crypto products.
#4. The Critical Window for Crypto Legislation (The “CLEAR” Bill)
After the U.S. Senate reconvened, the “CLEAR” Bill returned to the legislative agenda. The bill’s core is to clarify BTC/ETH as commodities and some tokens as securities, resolving regulatory ambiguity. Congress will enter recess on May 21, and the next 5 weeks are a critical window for legislation; if it cannot be pushed forward, the bill may be delayed until after the midterm elections, greatly increasing uncertainty.
#5. Today’s Market Quotes and Derivatives (As of 15:30)
• BTC: $74,882 (24h +0.69%)
• ETH: $2,344 (24h +0.75%)
• Total 24h liquidations: $321 million, long positions $170 million, short positions $151 million
• BTC liquidations $107 million, ETH liquidations $85.33 million
• The market is trading in a narrow range with intense long-versus-short games; short-term price swings happen frequently
#6. Macroeconomics and Capital Flows
The probability that the Federal Reserve will keep interest rates unchanged in June is 98%, and rate-cut expectations have cooled. With easing tensions in the Middle East and a weakening dollar, risk assets are benefited. Institutions are shifting to arbitrage in tokenized traditional assets such as gold and crude oil, targeting annualized returns of 20%-30%. The related market value has already reached $26.5 billion#GatePreIPOs首发SpaceX $BTC $GT $ETH 