Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

**Bitcoin Reclaims $80k on May 5 After Short-Term Dip Tied to Global Developments; CoinGlass Data Shows Mainstream CEX/DEX Funding Rates Turn Bearish Overall** (May 5) — Bitcoin has once again broken the $80,000 mark following a short-term decline driven by global developments, according to CoinGlass data. Mainstream centralized (CEX) and decentralized (DEX) exchange funding rates currently signal an overall bearish market, with specific rates detailed in the attached chart. **BlockBeats Note:** Funding rates are fees set by crypto exchanges to align perpetual contract prices with the underlying asset’s value. They facilitate fund exchanges between long and short traders—exchanges do not collect these fees—adjusting traders’ holding costs or profits to keep contract prices close to the underlying asset. **Rate Baseline & Signals:** - A 0.01% rate is the baseline. - Rates above 0.01% indicate a broadly bullish market. - Rates below 0.005% signal a generally bearish mark

May 5th — According to the Iranian Student News Agency (ISNA) on May 4th, Ibrahim Razaee, spokesperson for Iran’s Parliamentary National Security and Foreign Policy Committee, addressed former U.S. President Trump’s plan to guide stranded ships out of the Strait of Hormuz. He stated that if parties seek to reopen the strait, two options exist: either accept defeat, strike a deal and recognize Iran’s control over the waterway, or return to the battlefield and face further consequences.

May 5 (CNBC) — Multiple crypto firms, including Coinbase, are pressing U.S. Congress to advance a key market structure bill—the CLARITY Act—as early as next week. Senators had previously unveiled a compromise provision aimed at resolving tensions between the banking and crypto sectors over when stablecoins can offer yield rewards. Introduced by Sens. Thom Tillis and Angela Alsobrooks, the proposal would bar crypto companies from offering yield-like rewards for holding stablecoins. Banks have warned such incentives could drain deposits, weakening their lending capacity. However, the measure allows rewards when stablecoins are spent or used by users. This rule framework-style crypto bill is the industry’s top legislative priority, with the Trump administration also actively pushing for its passage. The heated stablecoin debate is viewed as a major hurdle to the bill advancing in the Senate Banking Committee, though other disagreements remain. The broader crypto industry has w

On May 5, Onchain Lens monitoring data shows a newly created wallet received 4.14 million LIT tokens from the Lighter distribution wallet—with the transfer valued at approximately $3.89 million.

On May 5th, TON briefly surged above $1.8, per HTX market data, and is currently trading at $1.752—up 28.82% over the past 24 hours. Per yesterday’s reports, Telegram founder Pavel Durov announced in his personal channel that Telegram will replace the TON Foundation as the driving force behind TON and its largest validator.

On May 5, Elon Musk agreed to pay $1.5 million to settle charges from the U.S. Securities and Exchange Commission (SEC) that he failed to timely and accurately disclose his stake in Twitter in 2022. He did not admit to the allegations.