LD Capital Founder Jack Yi Explains Reasons for Being Bullish on ETH

On May 9th, as reported by The Block, U.S. Treasury Secretary Yellen severely criticized the Senate's decision to impede the progress of the "GENIUS Act" on Thursday. She regarded this as a wrong decision made against the backdrop of the escalating tensions arising from former President Trump's increasing engagement in cryptocurrency affairs and the concerns regarding specific provisions of the stablecoin legislation. Yellen stated on social media, "For stablecoins and other digital assets to thrive globally, the world requires U.S. leadership." She added, "The Senate failed to move forward with the 'GENIUS Act' today, missing a chance to provide this leadership." Yellen further stated that the bill presented a "once-in-a-lifetime opportunity" to expand the dominance of the U.S. dollar and enhance America's influence in financial innovation. She believed that without such legislation, stablecoins would continue to be regulated by a patchwork of state laws instead of a unified federal

On May 9th, according to an official announcement, OKX will remove VRA and MEMEFI perpetual contracts at 8:00 am (UTC+8) on May 13th, 2025.

On May 9th, CryptoQuant announced on social media that "The sentiment of Bitcoin has reversed. There is a rising trend in spot inflows, and Bitcoin's bull market index has soared from 20 to 80. A score exceeding 60 indicates a bullish sentiment, which supports price hikes."

On May 9th, Andrei Grachev, a partner of DWF Labs, posted on the X platform that he had just transferred some tokens to DWF Labs' public wallet. DWF Labs is currently in the process of actively purchasing various types of altcoins and will gradually send them to the wallet. Grachev further added: "Perhaps we will set up our own strategic reserve; we are still considering this."

On May 9th, with the price of Bitcoin briefly reaching above $104,000, it is currently trading at $103,300. Strategy (formerly MicroStrategy) has realized an unrealized gain of $19.301 billion in its Bitcoin holdings. As of May 4, 2025, Strategy holds 555,450 BTC that were acquired at an approximate total cost of $38.08 billion, with an average price per BTC of approximately $68,550.

On May 9th, Federal Reserve Governor Quarles indicated that our current monetary policy stance is moderately tight. The first-quarter GDP revealed that the true essence of the economy is resilient. (Xinhua Finance)