Wu Says Daily Selected Crypto News + Wu Says Weekly Selection: Top 10 News and Popular Articles

1. Ethereum Researcher Justin Drake: 51% Attacks on Ethereum Are More Difficult Than on Bitcoin

Ethereum researcher Justin Drake stated in an interview that a 51% attack on Bitcoin is much cheaper than on Ethereum. It is estimated that attacking Bitcoin would cost about 10 billion USD, while Ethereum, due to its PoS mechanism, requires controlling over 50% of staked $ETH (currently valued at approximately 44.80 billion USD), and price volatility could further increase the cost. Drake emphasized that Ethereum's community social coordination mechanism can identify and "socially penalize" attackers, which is an advantage of PoS compared to PoW.

2. Caixin: Action to Recover Taxes on Overseas Income Has Lasted for One Year

Caixin reported that recently many individuals engaged in U.S. stock trading have received reminders from local tax authorities to self-examine whether they have overseas income and proactively declare and pay taxes. Most customers required to declare assets hold funds exceeding one million USD. The local tax authorities' action to recover taxes on overseas income has lasted for one year, focusing mainly on investment income from abroad, such as interest and dividends. Most cases involve income from 2022 to 2024, with no cases exceeding a five-year recovery period reported so far.

3. UK Tax Authority: Crypto Asset Companies Must Fully Report User and Transaction Data

The UK tax authority announced that from January 1, 2026, crypto asset companies operating in the UK must fully report user and transaction data in accordance with the global Crypto-Asset Reporting Framework (CARF) to combat tax evasion and improve transparency. Platforms must record user identity, address, tax identification number, and details of every transaction involving users from the UK or other CARF countries. Foreign companies serving UK clients must also comply, with violations facing fines up to 300 GBP per user.

4. France Strengthens Security Measures for Crypto Entrepreneurs Amid Multiple Kidnapping Incidents Suspected to Be Related

After two successful kidnappings and one attempted kidnapping involving multiple cryptocurrency entrepreneurs and their families in France, the French government announced priority alert channels, home security inspections, and safety advice for these individuals and their families, along with anti-money laundering training on crypto assets for law enforcement. French Interior Minister Bruno Retailleau stated that these violent incidents targeting crypto industry practitioners are suspected to be connected, and the cases are currently under investigation by organized crime prosecutors with several suspects already arrested.

5. Alabama Man Sentenced to 14 Months for Hacking SEC Account and Posting False Bitcoin ETF News

Eric Council Jr. from Alabama was sentenced to 14 months in prison and had 50 thousand USD of illegal gains confiscated for hacking the SEC's official social media account through SIM card swapping and posting false news about Bitcoin ETF approval. On January 9, 2024, Council obtained control of the victim's SIM card by forging identity information and posted a false statement on the SEC’s X account, briefly causing Bitcoin’s price to surge over 1,000 USD. The FBI arrested Council in October 2024, and he pleaded guilty in February 2025.

6. Wu Says Weekly Picks: Ukraine and Binance Collaborate to Launch National Bitcoin Reserve; Futu Tiger Launches Crypto Business; Coinbase Joins S&P 500 and News Top 10

• China and the U.S. reached a tariff suspension agreement, pausing 24% of tariffs for an initial 90 days, significantly boosting market sentiment.
• The U.S. April unadjusted CPI annual rate was 2.3%, the lowest since February 2021; the Federal Reserve plans to adjust its rate-setting framework.
• The SEC plans to introduce new crypto regulatory guidelines, potentially relaxing self-custody and exemption mechanisms.
• All three major South Korean presidential candidates support Bitcoin spot ETFs and institutional investment.
• Ukraine plans to cooperate with Binance to launch a strategic Bitcoin reserve, with relevant legislation being refined.
• The Ethereum Foundation launched the "Trillion Dollar Security Program" to enhance ecosystem security.
• Coinbase will join the S&P 500 index on May 19, 2025.
• Strategy increased its Bitcoin holdings by 13,390 $BTC between May 5 and May 11, totaling 568,840 BTC.
• Tiger Securities (Hong Kong) launched cryptocurrency deposit and withdrawal services, supporting $BTC, $ETH, etc.
• The Trump family project WLFI has invested 347 million USD cumulatively, with an unrealized loss of 53.07 million USD.

Key Financing Events

• U.S. AI video platform Hedra completed 32 million USD Series A financing.
• a16z Crypto led a 7 million USD seed round for blockchain ticketing platform KYD Labs.
• Perpl completed a 9.25 million USD financing led by Dragonfly.
• Layer0 infrastructure platform Openverse Network completed an 11 million USD strategic financing.
• Sonic Labs completed a $10 million Series S token strategic financing.
• Decentralized protocol Turtle Club completed a $6.20 million seed round financing.
• Blockchain cloud computing company Nirvana Labs completed a $6 million seed extension round financing.
• Ticket resale platform XP completed a $6.20 million seed round financing.
• Coinbase invested in Canadian stablecoin issuer Stablecorp.
• Haun Ventures made a strategic investment in Squads.

For more industry financing events, please visit crypto-fundraising.info.