Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

On May 3, the U.S. District Court for the Southern District of New York issued a restraining order against Arbitrum DAO, barring it from transferring approximately $71 million worth of ETH assets frozen following the KelpDAO hack. The plaintiff is seeking to use these assets to enforce an unpaid judgment related to North Korea’s history of terrorism, kidnappings, and other cases. Court filings show the plaintiff has applied to serve legal notice on Arbitrum DAO via alternative methods and classifies the entity as a liable "partnership organization." The court also noted Arbitrum DAO has a Security Council governed by ARB token holders, with authority to act in emergencies. If members decline to cooperate, they could face legal consequences including contempt of court. Market participants view the case as a potential landmark example of the U.S. judicial system directly impacting DAO governance structures, again underscoring compliance pressures on DeFi protocols within real-wo

**OPEC+ Draft: 7 Nations Agree to 188k BPD June Output Hike (3rd Consecutive Monthly Increase)** A draft OPEC+ statement dated May 3 shows seven member states have agreed to raise June oil production targets by ~188,000 barrels per day (bpd)—marking the third straight monthly output increase. The move signals the group is prepared to boost supply post-conflict. Sources note the UAE withdrew from the organization earlier this week, but OPEC+ will proceed with the output hike plan. The seven countries at Sunday’s meeting: Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia and Oman. OPEC’s latest monthly report (from last month) revealed March OPEC+ output averaged 35.06 million bpd—down 770,000 bpd from February. Iraq and Saudi Arabia led the cuts, driven by export constraints. The draft calls for the seven members to reconvene on June 7.

May 3 — UnblockPay, a stablecoin-focused bank and payment platform, announced it has closed a $4.5 million seed round. The funding was led by Prelude, with participation from Plug and Play, Wintermute, Reverie, Signature Ventures, Triaxis Capital, Crescera Capital and others. Founded in 2025, UnblockPay primarily offers enterprises stablecoin cross-border payment and forex settlement infrastructure. It supports seamless conversion between fiat currencies and stablecoins like USDC and USDT, covering Latin America, the U.S. and European markets. The company’s executives noted that in its first year of operations, it has processed over 300 million Brazilian Reals (roughly $53 million) in transaction volume.

**May 3 — On-chain data indicates a Morgan Stanley address executed two separate Bitcoin purchases totaling 286.693 BTC yesterday, with funds sourced from a Coinbase Prime address. The firm’s total BTC holdings now stand at 2,620 BTC.** **Previously reported by BlockBeats: On April 24, Morgan Stanley Investment Management (MSIM) — the asset management arm of Morgan Stanley — launched the stablecoin reserve portfolio fund MSNXX. Tailored exclusively for stablecoin issuers, this U.S. government money market fund aims to offer a regulated, secure storage solution for the reserve funds backing their tokenized fiat currencies.**

On May 3rd, Chris Perkins, CEO of 250 Digital Asset Management, stated that even if the U.S. Congress ultimately fails to pass the cryptocurrency market structure bill known as the "CLARITY Act," the long-term development of the U.S. crypto industry will not be a problem. Perkins noted that U.S. SEC Chair Paul Atkins and U.S. CFTC Chair Michael Selig are actively advancing the development of a crypto regulatory framework, delivering the long-awaited "certainty, stability, and classification system" the industry has sought. He noted that during former SEC Chair Gary Gensler’s tenure, being classified as a security was seen as a "death sentence" for crypto projects—but the market’s attitude toward security tokens has since shifted dramatically. Perkins also emphasized, however, that if the "CLARITY Act" is formally enacted, it will make it harder for future administrations to roll back the current regulatory framework, as "once a law is passed, it becomes far more difficult to repe

May 3 (IRNA via FXStreet) — Iranian Foreign Minister Abbas Araghchi spoke separately by phone with his Japanese and Italian counterparts on Saturday, outlining Iran’s diplomatic efforts to end what it characterizes as US-Israeli aggression and stressing the need for the international community to act responsibly. In his call with Japanese Foreign Minister Toshimitsu Motegi, Araghchi discussed bilateral ties, regional developments, and Iran’s ongoing diplomatic initiatives to end the conflict and de-escalate tensions. He also spoke with Italian Foreign Minister Luigi Di Maio, focusing on the latest regional updates, ceasefire efforts, and diplomatic steps. Araghchi expressed regret over what he called unconstructive, irresponsible repetition of incorrect clichés by some European countries regarding Iran’s nuclear program, emphasizing the program is strictly peaceful. He urged those countries to condemn US and Israeli aggression and hold the two nations accountable for serious viol