Several significant events have occurred in the cryptocurrency field: 1. CZ was sentenced to four months in prison, with the judge rejecting the Department of Justice's request for a 36-month sentence. CZ stated that he will focus on the next chapter of his life (education) and continue as a passive investor in cryptocurrencies. 2. Roger Ver (Bitcoin Jesus) was arrested on suspicion of tax evasion, and the United States is seeking to extradite him for trial. 3. Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has been accused of misleading Congress on Ethereum regulatory issues. 4. The timing of the Fed's interest rate cut remains uncertain, with multiple institutions making inconsistent predictions. 5. Tether achieved a record net profit of over $4.52 billion in the first quarter of 2024, with a total group net asset of $11.37 billion.

CZ sentenced to four months in prison. On May 1 at 3 a.m. Beijing time, the judge rejected the Department of Justice's request for a 36-month imprisonment, stating that the court needs to make an appropriate and reasonable judgment. CZ expressed gratitude for the care and support received from everyone, whether through letters, Twitter support, or other forms, which has been encouraging and uplifting. He mentioned his intention to serve the sentence, conclude this phase, and focus on the next chapter of his life (education). Additionally, CZ stated that he will continue to be a passive investor (and holder) in cryptocurrencies. Roger Ver, known as the 'Bitcoin Jesus,' arrested for alleged tax evasion. The U.S. seeks to extradite Roger Ver for nearly $50 million in tax evasion, charged with email fraud, tax evasion, and filing false tax returns. Ver was arrested last weekend in Spain on U.S. criminal charges, with the U.S. seeking his extradition for trial. After moving abroad, U.S. law requires Ver to submit tax returns, reporting capital gains from the constructive sale of assets (including Bitcoin) worldwide and pay taxes on these gains. Ver provided or caused to provide false or misleading information to law firms and appraisers, concealing the true amount of Bitcoin he and his company owned. SEC Chairman Gary Gensler accused of misleading Congress on Ethereum regulation issues. Patrick McHenry, Chairman of the House Financial Services Committee, accused SEC Chairman Gary Gensler of misleading Congress. McHenry stated that Gensler's agency knew it considered Ether to be a security before he attended the hearing and refused to answer related questions. McHenry said in a statement, 'Gensler refused to answer questions about the SEC's classification of Ether. New court documents show this was an intentional attempt to mislead and distort the committee's position.' CNN: The timing of the Fed's rate cut has become a mystery, with multiple institutions predicting differently. JPMorgan and Goldman Sachs expect the first rate cut in July, while Wells Fargo bets on September. Bank of America predicts the first rate cut will not happen until December. Meanwhile, some Fed policymakers have even raised the possibility of raising rates instead of cutting them. According to the futures market, Wall Street's best bet for the first rate cut is in September, and the magnitude will not be significant. Tether achieves record net profit exceeding $4.52 billion in the first quarter of 2024, with a total group net asset of $113.7 billion. Approximately $1 billion of the profit comes mainly from holding U.S. Treasury bonds. The remaining portion consists of income from Bitcoin and gold positions valued at market prices. As of March 31, Tether's reserve was $110.289 billion, with liabilities of $104.027 billion. According to 21 Shares analyst Tom Wan, Tether's BTC holdings increased by 8.9k BTC compared to the previous quarter, currently holding a total of 75,353 BTC ($4.4 billion), accounting for 0.38% of the total Bitcoin supply.

Major Events in the Cryptocurrency Space: CZ Detained, Roger Ver Arrested, and Other Important News