This week's crypto news focuses on the potential leakage of input content from a cloud input method used by up to one billion users, Tiger Brokers opening Hong Kong virtual asset spot ETF trading, the SEC investigating the nature of Ethereum, South Korea establishing a department dedicated to investigating digital asset crimes, and A16Z partners criticizing the US regulatory system. Additionally, macroeconomic indicators and analysis this week are centered around the US April employment data and the Federal Reserve interest rate decision, reflecting the situation of economic growth slowdown and inflation pressure.

1. Godfish: Cloud Input Method with Up to One Billion Users May Have Leaked Input Content
Co-founder Godfish of F2Pool and Cobo tweeted that a cloud input method used by up to one billion users may have leaked input content. If you have used any of the listed cloud input methods (including Baidu, Honor, iFlytek, OPPO, Samsung, Tencent, among eight manufacturers) to input mnemonic phrases or other sensitive information, it is recommended to take immediate measures to mitigate risks. The full report indicates that the team estimates that up to one billion users are affected by these vulnerabilities. Several smartphone manufacturers have embedded these vulnerable input method programs in their operating systems. Apart from Baidu Input Method, other manufacturers have now patched these vulnerabilities in their built-in input methods. Regarding the built-in Baidu Input Method, Honor has not patched any vulnerabilities, while the rest of the manufacturers have only patched some of the most severe vulnerabilities.

2. Tiger Trade App under Tiger Securities to Open Trading for 6 Hong Kong Virtual Asset Spot ETFs on April 30
Reportedly, trading will be commission-free and platform fee-free, including Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ethereum ETF (3009.HK), Huaxia Bitcoin ETF (3042.HK), Huaxia Ethereum ETF (3046.HK), CSOP Bitcoin Spot ETF (3439.HK), and CSOP Ethereum Spot ETF (3179.HK).

3. SEC Investigates Ethereum Nature, Consensys Faces Challenges
Lawsuit documents from Consensys reveal that on March 28, 2023, SEC Enforcement Division Head Gurbir Grewal approved a formal order to investigate the security status of Ethereum. A committee of five members approved the Enforcement Division's "Ethereum 2.0" investigation on April 13, 2023. Gensler hinted that the nature of proof-of-stake tokens may trigger the so-called Howey test. Over the past year, the SEC has issued several requests for information from Consensys regarding its role in Ethereum's transition to POS and more detailed information on its acquisition, holding, and selling of Ethereum.

4. South Korea to Establish Official Department Focused on Digital Asset Crimes
The purpose of this promotion is to solidify the department's position, as it currently operates as a temporary agency under the Seoul Southern District Prosecutor's Office and may be dissolved. The department consists of around 30 experts from seven financial and tax regulatory agencies, established in July 2023, making it South Korea's first investigative agency focused on digital asset crimes.

5. a16z Partner Chris Dixon Criticizes U.S. Regulatory System Allowing Memecoins to Thrive
a16z Partner Chris Dixon wrote a lengthy article criticizing the U.S. regulatory system for enabling Memecoins to thrive while crypto companies and blockchain tokens with more utility face obstacles, as entrepreneurs fear that their more productive blockchain tokens being listed or developed may suddenly be deemed securities. a16z suggests strengthening regulations, including disclosure requirements and longer token lock-up periods.

6. Wu's Macro Indicators and Analysis for the Week: U.S. April Employment Data, Fed Rate Decision Summary
Last week's lower-than-expected U.S. first-quarter GDP and higher-than-expected PCE indicate economic growth slowdown and inflation pressure. Market expectations have now adjusted, with only one rate cut expected in 2024, a stark contrast to the initial forecast of seven cuts. This week's focus is on U.S. April labor market data and the Fed's May rate decision. Last week's review:
- U.S. Q1 actual GDP annualized quarterly rate initial value of 1.6%
- U.S. Q1 GDP seasonally adjusted annualized quarterly rate initial value of 1.6%, estimated at 2.5%, previous value at 3.4%
- U.S. Q1 core PCE price index seasonally adjusted annualized quarterly rate initial value of 3.7%, estimated at 3.4%, previous value at 2.0%
- Bank of Japan maintains current monetary policy at the policy rate target between 0 and 0.1%
- U.S. March core PCE price index annual rate recorded 2.8%, higher than market expectations (2.7%)
- U.S. April University of Michigan Consumer Confidence Index final value at 77.2, expected 77.9, previous value 77.9
- Bank of Canada releases April monetary policy meeting minutes: officials more concerned about upward inflation risks

Key Events & Indicators for the Week of May 1:
May 01:
- U.S. April ADP Employment Change (thousands) (20:15)
- U.S. April ISM Manufacturing PMI (22:00)
May 02:
- U.S. Federal Reserve Interest Rate Decision until May 1 (02:00)
- Fed Chair Powell holds monetary policy press conference (02:30)
May 03:
- U.S. April Unemployment Rate (11:00) (20:30)
- U.S. April Seasonally Adjusted Nonfarm Payrolls (thousands) (20:30)

Cryptocurrency News and Macro Indicators: Cloud Input Method Leakage Risk, Virtual Asset ETF Trading Open, and US Economic Data