Last week, the European Central Bank lowered interest rates as expected, marking the third reduction in this rate-cutting cycle. This week, the focus will be on the Federal Reserve's release of the Beige Book regarding economic conditions and the IMF's publication of the Global Economic Outlook report.

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<div>1. Large Token Unlocks This WeekIn the next 7 days, there will be single large unlocks (amounts over $5 million) for MRS, ADA, APEX, MURA, AITECH, ID, YGG, KARRAT, TRIBL, ENA, among others. In the next 7 days, there will also be linear large unlocks (daily amounts over $1 million) for WLD, SOL, TAO, AVAX, SEI, NEAR, DOT, DOGE, SUI, FIL, BEAM, etc. The total unlock value exceeds $407 million.2. Northern Data Considers Selling Bitcoin Mining Division to Focus on AIHeadquartered in Germany, Northern Data is considering spinning off its Bitcoin mining subsidiary to pivot to a pure AI strategy. On Monday, Northern Data announced it had initiated negotiations with relevant parties regarding a potential divestiture of its crypto mining business, Peak Mining. In a subsequent announcement, the company stated that potential proceeds from this sale would be invested in acquiring more data centers, purchasing GPUs, and developing its AI product platform.3. Payment Company Stripe Acquires Stablecoin Platform Bridge for $1.1 BillionThe software provided by Bridge helps businesses accept payments in stablecoins, marking an expansion of Stripe's cryptocurrency adoption efforts. Bridge previously raised $58 million from investors, including $40 million in Series A funding, with the company valued at $200 million. Therefore, the $1.1 billion price represents a significant increase compared to the company's prior valuation, making Bridge Stripe's largest acquisition to date and the largest acquisition in the history of the crypto industry.4. Qian Zhimin Pleads Not Guilty to Money Laundering Bitcoin in London CourtQian Zhimin has pleaded not guilty to charges of money laundering Bitcoin in a London court. Qian, a key figure in the UK’s 60,000 Bitcoin money laundering case and the Tianjin Blue Sky Ge Rui 43 billion yuan illegal fundraising case, has been sentenced by a UK court for money laundering and will serve over 6 years in prison.5. Heilongjiang Court Rules on USDT Resale Case, Defendant Sentenced to 1 Year and 8 MonthsThe court's investigation revealed that in April 2024, defendant Wang learned from a friend Li that trading USDT could be profitable. Starting from April 15, Wang began using Li's account on the "U Dock" APP to resell USDT in a抢单模式 (grabbing orders mode). Wang used a total of 14 bank cards under his and others' names to receive transaction payments, of which 6 cards were involved in receiving fraudulent funds, totaling 564,000 yuan. Wang illegally profited about 60,000 yuan. In the early stages of the case, three bank cards used by Wang and his accomplice Zhang were frozen by the police for suspected telecom network fraud. However, Wang continued to trade USDT on the "U Dock" APP and registered his own account. Wang was sentenced to one year and eight months in prison for concealing and hiding the proceeds of crime and fined 15,000 yuan.

Wu's Macro Indicators and Analysis for This Week: Federal Reserve's Beige Book on Economic Conditions, IMF Global Economic Outlook Report