Daily News: China and U.S. Reach Key Consensus on Trade and Economic Issues, Ethereum Tops Chinese TikTok Trending List

On May 11, China and the U.S. have reached a key consensus, while Ethereum tops the trending list on Chinese TikTok. Meanwhile, the SEC Chairman is set to deliver a keynote on asset tokenization on May 12. Michael Saylor has once again shared updates on Bitcoin trackers, and Bitcoin's MC is now twice as large as the combined MC of China’s four largest banks.

Other updates include sns.sol, Boop.fun and Lido's Updates, and Major Token Unlocks This Week.

White House: U.S. Announces Trade Agreement with China in Geneva, Details to be Released on May 12

The White House announced that the United States has reached a trade agreement with China in Geneva. U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Ambassador Jamieson stated that the negotiations, held over two days in Geneva, Switzerland, achieved "substantial progress." The discussions involved Bessent, Ambassador Jamieson, China's Vice Premier, and two deputy ministers.

Facing a $1.2 trillion trade deficit, President Trump had declared a national emergency and imposed tariffs. The outcome of these negotiations is expected to help address this "national emergency."

Both sides expressed satisfaction with the results, noting that the differences were not as significant as anticipated, and the agreement was reached relatively quickly. Specific details will be disclosed on May 12. President Trump has been briefed and will receive a full report the following morning. U.S. Officials are optimistic about the agreement, believing it will help resolve the trade deficit issue.

SEC Chairman to Deliver Keynote on Asset Tokenization on May 12

The U.S. SEC will host a roundtable discussion on May 12 titled "Tokenization: Moving Assets Onchain: Where TradFi and DeFi Meet." SEC Chairman Paul Atkins will deliver the keynote speech on asset tokenization.

Attendees from the SEC include Chairman Paul S. Atkins, Richard B. Gabbert (Director of the Crypto Working Group Office), and Commissioner Hester Peirce. Other participants include Cynthia Lo Bessette (Fidelity), Eun Ah Choi (Nasdaq), and Will Geyer (Invesco).

Trump Responds to Crypto Profit Allegations, Criticizes Pelosi for Insider Trading

According to unusual_whales, when asked by reporters whether he profited from cryptocurrencies, Trump responded: "I haven't even looked into it. If I own shares in a company and do well because the market goes up, I suppose I'm profiting. But those who truly profit are people like Pelosi, who exploit insider information."

Bitcoin’s Market Cap Reaches $2.05 Trillion, Twice That of China's Four Largest Banks Combined

According to CoinMarketCap, Bitcoin's current market capitalization has reached $2.05 trillion, a 3.61% increase in a single day. Its market cap is approximately twice the combined valuation of China’s four largest banks, which stands at $1.035 trillion:

• Industrial and Commercial Bank of China: $341.76 billion

• China Construction Bank: $217.6 billion

• Agricultural Bank of China: $262.4 billion

• Bank of China: $213.76 billion

Solana Name Service (sns.sol) Announces Airdrop Claim Starting May 13

According to a post on X by Solana Name Service (sns.sol, formerly Bonfida), SNS airdrop claims will begin on May 13. The total airdrop allocation is 2 billion SNS tokens, with a 90-day window for eligible wallets to claim their tokens. The claim window will close on August 11, and unclaimed tokens will be redirected to ecosystem development.

Boop.fun: Airdrop Program to End Early, New Incentive System Coming in 1-2 Weeks

Boop.fun founder Dingaling announced that the team discovered significant flaws in the current airdrop incentive design and has decided to end the program early. A new incentive system aimed at supporting more meaningful project launches will be introduced within 1-2 weeks.

Lido DAO Proposes Emergency Action to Replace Potentially Compromised Chorus One Oracle Key

Lido DAO has initiated an emergency proposal to replace a single Lido oracle node managed by Chorus One due to a suspected private key compromise.

Staking users remain unaffected, and the protocol continues to operate securely. Lido’s oracle system uses a 9-of-5 multisig mechanism, ensuring that the failure of a single oracle does not threaten the system. The remaining nodes have been verified as uncompromised.

Key points:

• Oracle operations remain normal, with no software or data anomalies detected.

• The other eight oracle nodes have been inspected and found secure.

• No evidence suggests a broader attack on Chorus One.

"Ethereum Surges 40% in 3 Days" Tops "Chinese TikTok" Trending List

"Ethereum Surges 40% in 3 Days: What Happened?" Tops the Douyin (TikTok Chinese Version) Trending List.

Michael Saylor Hints at Further Bitcoin Accumulation with Tracker Update

Strategy founder Michael Saylor has once again shared Bitcoin Tracker updates, stating: "Connect the dots." Based on previous patterns, Strategy typically discloses Bitcoin purchases the day after such announcements.

Guotai Junan International Holdings Ltd Officially Enters Tokenized Securities Business

Guotai Junan International Holdings Ltd (1788.HK) announced that it has submitted plans for "tokenized securities distribution" and "digital bond issuance" to the Hong Kong Securities and Futures Commission (SFC), both of which have received confirmation with no further issues raised.

The company submitted a wealth management business plan to the SFC on January 21, 2025, intending to distribute or provide advisory services on tokenized securities. The covered tokenized securities include structured products (e.g., structured notes, OTC derivatives), SFC-approved and non-approved funds, and bonds.

Additionally, the company submitted a plan to expand its digital bond issuance business, enabling it to act as a global coordinator, syndicate capital markets intermediary, or "settlement agent" in future digital bond projects. The SFC confirmed on April 2, 2025, that there are no further issues with this plan.

Major Token Unlocks This Week Total Over $1.5 Billion

According to Token Unlocks, several tokens, including WBT, APT, STRK, and MELANIA, will undergo significant unlock events this week, with a total value exceeding $1.5 billion. Key unlocks include:

• WBT: 39.5 million tokens (worth ~$1.19 billion), unlocking on May 13, accounting for 27.41% of circulating supply.

• FTN: 20 million tokens (worth ~$87.4 million), unlocking on May 18, accounting for 4.66% of circulating supply.

• APT: 11.31 million tokens (worth ~$66.73 million), unlocking on May 12, accounting for 1.82% of circulating supply.

• ARB: 92.65 million tokens (worth ~$42.17 million), unlocking on May 16, accounting for 1.95% of circulating supply.

• AVAX: 1.67 million tokens (worth ~$41.04 million), unlocking on May 17, accounting for 0.40% of circulating supply.

• STRK: 127 million tokens (worth ~$22.77 million), unlocking on May 15, accounting for 4.09% of circulating supply.

• IMX: 24.52 million tokens (worth ~$17.63 million), unlocking on May 16, accounting for 1.35% of circulating supply.

• SEI: 55.56 million tokens (worth ~$14.28 million), unlocking on May 15, accounting for 1.09% of circulating supply.

• APE: 15.6 million tokens (worth ~$10.26 million), unlocking on May 17, accounting for 1.95% of circulating supply.

• MELANIA: 26.25 million tokens (worth ~$10.09 million), unlocking on May 18, accounting for 6.63% of circulating supply.

• BB: 42.89 million tokens (worth ~$7.29 million), unlocking on May 13, accounting for 10.47% of circulating supply.

• CYBER: 886,100 tokens (worth ~$1.43 million), unlocking on May 15, accounting for 3.81% of circulating supply.