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U.S. stocks closed higher on Wednesday, with technology shares strengthening, Dell surging, and oil prices stabilizing. U.S. Treasury yields approached 5%, and global stock markets may face a 5%-8% correction. Trump said the strikes on Iran would end soon and that the Strait of Hormuz would be renamed the Trump Strait. The former British prime minister warned that failure to control debt would force emergency spending cuts. The Beige Book said the U.S. economy grew moderately, with AI and data centers serving as key supports. Tron’s USDT supply surpassed Ethereum’s for the first time. Broadcom’s Q3 results exceeded expectations, and its AI revenue guidance was raised. Robinhood Chain generated $3.75 million in daily fees, exceeding the combined total of Solana, ETH, and Base.

ME News, May 7 (UTC+8), according to CoinFound’s crypto concept stock data, Nano Labs Ltd (NASDAQ : NA) is currently trading at $2.06 per share, with today’s opening price at $2.31 and an intraday decline of 10.82%. (Source: CoinFound)

ME News, May 7 (UTC+8) — The Institute of International Finance (IIF) reported today in its Global Debt Monitor that global debt increased by more than $4.4 trillion in the first quarter, reaching a record high of nearly $353 trillion, while the debt-to-GDP ratio remained at approximately 305%, staying broadly stable overall. (Source: PANews)

ME News, May 7 (UTC+8) — Ondo Finance, Kinexys developed by JPMorgan, Mastercard, and Ripple conducted a pilot project that successfully connected the XRP Ledger with an interbank settlement system for tokenized US Treasuries. The transaction enabled near-real-time cross-border and cross-bank system settlement outside traditional banking hours, marking an important step toward a 24/7 global market. (Source: MLion)

On May 7, the WorldLibertyFi governance proposal to unlock 62,282,252,205 locked WLFI tokens passed by an overwhelming majority. If approved, the relevant tokens will not enter the market for at least two years. Up to 45.2 billion tokens held by the founding team, advisors, and partners will be converted to a two-year lockup followed by three years of linear unlocking, while approximately 450 million tokens will be burned. Approximately 17 billion tokens held by early supporters will be converted to a two-year lockup followed by two years of linear unlocking. The voting period is seven days, with a quorum of 1 billion WLFI.

Ondo Finance, J.P. Morgan’s Kinexys, Mastercard, and Ripple completed the first near-real-time cross-border exchange of tokenized U.S. Treasuries. Ripple redeemed OUSG on the XRP Ledger, after which Ondo processed the transaction and issued a fiat instruction through the Mastercard Multi-Token Network. Kinexys settled the transaction and sent the U.S. dollars to Ripple’s account through its correspondent banking network. The pilot demonstrates that public blockchains and interbank settlement systems can work together, providing a framework for 24/7 real-time cross-border settlement of tokenized assets worldwide.

ME News, May 7 (UTC+8) — Reform UK leader Nigel Farage said the $6.7 million (£5 million) personal gift he received from Tether shareholder Christopher Harborne “does not need to be declared” and has been “reviewed from every legal perspective.” Farage said the gift was used for his personal security and was made before he decided to run for a seat in Parliament. Harborne also donated £12 million to Reform UK, including £9 million in the largest single personal political donation in British history. The U.K. government previously halted cryptocurrency political donations based on the Rycroft report, concerned that they could be used to channel funds from overseas. Harborne

ME News, May 7: Prediction market data shows that within 24 hours, multiple addresses concentrated their participation in the event “Will the US launch a strike against Iran before February 22, 2026?” and selected the outcome “Will the US launch a strike against Iran before February 22, 2026?”, with cumulative bets of approximately $2098.5k, indicating that this outcome attracted significant capital attention in a short period.

Glassnode noted that Bitcoin has broken through the $78k/$79k range. If it holds over the next week, this could become the shortest deep value phase since 2026, with $85.2k as key resistance. The 30-day net realized profit and loss has turned positive, and long-term holders are realizing approximately $180 million in profits per day, though this remains below the peak. Losses are approximately $479 million and need to fall below $200 million for a recovery in demand to emerge. ETF net inflows are recovering, but short pressure remains. There is approximately $2 billion in Short Gamma around $82k, and without support from spot buying, $85k could face selling pressure.

ME News, May 7 (UTC+8) — According to CoinFound’s crypto concept stock data, Cango Inc. (NYSE: CANG) is currently trading at $0.53 per share, with an opening price of $0.48 today and an intraday gain of 10.40%. (Source: CoinFound)

ME News reported that on May 7 (UTC+8), approximately $920 million worth of crude oil short positions were established 70 minutes before reports emerged that the United States and Iran were close to reaching a consensus on a “14-point” agreement to end the war. At 3:40 a.m. U.S. Eastern Time today (3:40 p.m. Beijing Time), the market established nearly 10,000 crude oil short contracts without any major news. Based on notional value, the trade was worth approximately $920 million, an exceptionally large transaction for 3:40 a.m. Seventy minutes later, at 4:50 a.m. U.S. Eastern Time (4:40 p.m. Beijing Time), Axios reported that the United States was “close” to reaching a “memorandum of understanding” to end the war with Iran. By 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing Time), oil prices had fallen by more than 12%, and the aforementioned crude oil

ME News reported that on May 7 (UTC+8), Senator Kirsten Gillibrand said at the Consensus conference that if cryptocurrency market structure legislation does not include ethics provisions, the bill will not pass a vote. Gillibrand pointed out that members of Congress, senior government officials, and the president and vice president must be prohibited from profiting in the cryptocurrency industry through their official positions. Currently, several Democratic senators have expressed concerns about U.S. President Donald Trump’s and his family’s cryptocurrency ties. Bloomberg estimates that Trump has earned at least $1.4 billion through crypto ventures. The bill was previously stalled in the Senate over the treatment of stablecoin rewards and has now reached a compromise, but the ethics provisions have become a new obstacle. Gillibrand said she is working with the White House and both parties to ensure that the relevant content is included, while pushing to add consumer protection and counterterrorist financing provisions. The bill is expected to

ME News, May 7 (UTC+8): World Liberty Fi’s governance proposal regarding the unlocking of 62.2 billion WLFI tokens has been overwhelmingly approved. Previous report: World Liberty Financial initiated a governance proposal vote on unlocking 62,282,252,205 locked WLFI tokens. According to the proposal, if approved, the relevant tokens will not enter the market for at least two years. The proposal shows that up to 45.2 billion WLFI held by the founding team, advisers, and partners will be subject to a two-year lock-up followed by three years of linear unlocking, along with the potential burning of approximately 4.5 billion tokens. Approximately 17 billion locked tokens held by early supporters are proposed to be subject to a two-year lock-up followed by two years of linear unlocking. The proposal’s voting period is 7 days, with a quorum threshold

Chicago Fed President Goolsbee warned against instinctively cutting interest rates just because productivity is accelerating. If the faster productivity growth is unexpected, inflation may be contained, allowing for rate cuts; if it reflects expectations of sustained future growth, combined with investment and spending, it could push inflation higher and require higher interest rates. He also stressed the need to be wary of growth expectations driving consumption and investment: the more intense the hype, the greater the need to raise rates to prevent overheating. Source: Jin10.

AIMPACT News, May 7 (UTC+8) — Less than 24 hours after Microsoft and OpenAI formally ended their exclusive partnership agreement, OpenAI launched the GPT-5.5 model on the AWS Bedrock platform. This marks the end of the two companies’ years-long exclusive partnership, with OpenAI officially expanding its multi-platform distribution channels. As Amazon’s cloud AI service platform, AWS Bedrock has introduced OpenAI’s latest model for the first time, offering developers more choices while also enhancing AWS’s competitiveness in the generative AI sector.

Ondo Finance partnered with J.P. Morgan’s Kinexys, Mastercard, and Ripple to complete the first near-real-time cross-border exchange of tokenized U.S. Treasuries. Ripple redeemed OUSG on the XRP Ledger, after which Ondo processed the transaction and issued a fiat instruction through the Mastercard Multi-Token Network. Kinexys cleared the transaction and sent U.S. dollars to Ripple’s account through its correspondent banking network. The pilot demonstrates that public blockchains and interbank settlement systems can work together, providing a framework for 24/7 real-time cross-border settlement of tokenized assets worldwide.

ME News, May 7 (UTC+8) — According to CoinFound’s crypto-related stock data, Nano Labs Ltd (NASDAQ : NA) is currently trading at $2.06 per share, with today’s opening price at $2.31 and an intraday decline of 10.82%. (Source: CoinFound)

Kirsten Gillibrand emphasized at the Consensus conference that the crypto market structure bill must include ethics provisions or it cannot pass. It must also prohibit lawmakers and senior government officials from profiting in the crypto industry by leveraging their insider status. Democrats have expressed concern about Trump and his family’s ties to crypto, with Bloomberg estimating that they have profited at least $1.4 billion from crypto investments. The bill was previously stalled over stablecoin issues, and although a compromise has now been reached, the ethics provisions have become an obstacle. She is pushing to incorporate ethics, consumer protection, and anti-terrorist financing provisions and is seeking passage before the August recess.

According to ME News, on May 7 (UTC+8), approximately 70 minutes before reports emerged that the United States and Iran were close to reaching agreement on a “14-point” deal to end the war, crude oil short positions worth approximately $920 million were established. At 3:40 a.m. U.S. Eastern Time today (3:40 p.m. Beijing Time), the market opened nearly 10,000 crude oil short contracts without any major news. Based on notional value, the transaction was worth approximately $920 million, an unusually large trade for 3:40 a.m. Seventy minutes later, at 4:50 a.m. U.S. Eastern Time (4:50 p.m. Beijing Time), Axios reported that the United States was “close” to reaching a “memorandum of understanding” to end the war with Iran. By 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing Time), oil prices had fallen by more than 12%, and the aforementioned crude oil

St. Louis Fed President Musalem said that the outlook for the U.S. economy and monetary policy is highly uncertain, but inflation risks are rising relative to employment risks. Inflation is significantly above the 2% target, and interest rates are at neutral or slightly accommodative levels. Going forward, rates could remain unchanged, or could be cut or raised further under certain scenarios.

ME News reports that Reform UK leader Nigel Farage said he received a $6.7 million personal gift from Tether shareholder Harborne, which he said did not need to be declared and had been reviewed for legal issues. The gift was used for personal security and occurred before he decided to run for office. Harborne also donated £12 million to Reform UK, £9 million of which was the largest single individual political donation in the UK. The government reportedly halted cryptocurrency political donations based on the Rycroft report, citing concerns about the flow of foreign funds; the donation was not made in cryptocurrency.