SoSo Daily May 20 | Cardano Founder Responds to Community's Doubts Over Alleged Misappropriation of Approximately 600 Million USD in ADA

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is pSTAKE Finance. As of 00:00 today, its market cap is 15.45M, with a coin price of 0.0309 USD, witnessing a 24-hour increase of 44.9%.
The second is xPet.tech. As of 00:00 today, its coin price is 0.01949 USD, with a 24-hour increase of 44.1%.
The third is Wasder. As of 00:00 today, its coin price is 0.0006191 USD, showing a 24-hour increase of 35.9%.
In fourth place is Serum. As of 00:00 today, its coin price is 0.0163 USD, with a 24-hour rise of 29.8%.
In fifth place is Matr1x Fire. As of 00:00 today, its coin price is 0.0005111 USD, increasing by 28.5% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Cardano founder Charles Hoskinson responded to community concerns regarding the alleged misappropriation of approximately 600 million USD worth of ADA, promising to release an audit report to clarify the controversy. The focus is on a transfer of 318 million ADA (currently about 229 million USD) during the 2021 Allegra hard fork. NFT artist Masato Alexander accused him of using the genesis key to tamper with the ledger. Hoskinson denied the allegations, stating that most of the tokens have been redeemed by the original purchasers, and the remaining portion has been donated to Intersect. (Cointelegraph)
Next news:

According to TechFlow from ShenChao, on May 19, as reported by Jin10 Data, John Williams, President of the Federal Reserve Bank of New York, stated that recent economic data is very good. The economy is close to full employment. The labor market is basically balanced. Inflation has been declining slowly and gradually.

Due to trade issues, economic growth in the first quarter was abnormal. Monetary policy is in a good position. The policy is slightly restrictive but in good condition. Some leading indicators have sent worrying signals. Trade is an especially uncertain factor.

Next news:Strategy (formerly known as MicroStrategy) purchased an additional 7,390 bitcoins at an average price of $103,498 per bitcoin between May 12 and May 18, spending approximately $764.90 million. The company currently holds a total of 576,230 bitcoins, valued at over $5.9 billion, with an average purchase price of $69,726 and a total cost of about $40.20 billion. The funds for this bitcoin acquisition came from the sale of its Class A common shares (MSTR) and perpetual preferred shares (STRK). Strategy also plans to raise $8.4 billion for bitcoin acquisitions through the "42/42" program, far exceeding the initial $4.2 billion plan. Market analysts note that although Strategy's large-scale bitcoin purchases support bitcoin prices, future purchasing momentum may slow, impacting market dynamics. Additionally, more than 70 companies have adopted bitcoin treasury strategies, driving continuous growth in corporate bitcoin holdings. Recently, multiple companies announced the launch of bitcoin treasury programs, with corporate bitcoin holdings expected to increase significantly over the next five years. In the first quarter, Strategy recorded a net loss of $4.2 billion due to changes in bitcoin fair value, but the company maintains low debt levels and manageable financial leverage.
Next news:Wu Shuo learned that, according to the Form 8-K filed by Strategy (formerly MicroStrategy) with the U.S. SEC, Strategy and its CEO Michael Saylor, CFO Phong Le, and executive Andrew Kang faced a class-action lawsuit on May 16 in the U.S. District Court for the Eastern District of Virginia. The plaintiffs claim that during the period from April 2024 to April 2025, the company made misleading statements regarding its Bitcoin investment strategy and financial expectations, failing to adequately disclose potential risks related to Bitcoin volatility and new accounting standards. The lawsuit does not specify the amount of compensation sought. Strategy stated it will actively defend itself and currently cannot predict the lawsuit's outcome or potential losses.
Next news:Wu Shuo learned that Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated at an SEC speech that the commission will promote the drafting of rules related to crypto assets and support an integrated custody mechanism for both securities and non-securities assets. The FinHub, originally responsible for crypto innovation affairs, will be integrated into other business departments to improve efficiency and abandon an enforcement-oriented approach. The SEC will return to a stance of "supporting innovation."
Next news:JamesWynnReal opened a long position with 40x leverage on 5,520 $BTC, with the position value reaching 570 million USD.
Next news:Bybit announces support for users to trade leading global corporate stock assets directly using USDT. This new feature is a strategic expansion of the Bybit Gold & FX (MT5) product matrix, covering 78 of the world's most prominent high-quality stock assets, including leading companies in technology, automotive, energy, e-commerce, and other sectors. Users can use USDT on the Bybit platform to access traditional asset markets such as stocks, gold, crude oil, indices, and forex.
Next news:Odaily Planet Daily News: On May 19 local time, U.S. President Trump began a phone conversation with Russian President Putin. It is reported that after the call, Trump will phone Ukrainian President Zelensky. (CCTV News)
Next news:Trump stated that Russia and Ukraine will "immediately" begin ceasefire negotiations. After a two-hour phone call with Putin, Trump described the tone and spirit of the dialogue as "very good." Putin previously indicated that Russia would jointly formulate a possible peace treaty memorandum with Ukraine, covering "principles of resolution." Additionally, reports mentioned the renaming of some companies to emphasize Diversity, Equity, and Inclusion (DEI), as well as the launch of resort-style clothing by a Thai silk designer.
Next news:Bitcoin's price rebounded to $105,000 after the Wall Street opening, up 2.5% from the day's low. Market volatility persists, with traders divided on Bitcoin's future trajectory. Some analysts believe the Bitcoin bull market may be nearing its end. Renowned analyst Rekt Capital suggests that Bitcoin needs to maintain support around $104,400 to complete a pullback after the breakout. Trader Daan Crypto Trades is focusing on the $102,000 to $106,000 price range, wary of a price breakout. On-chain analytics firm Glassnode points out that $106,600 is an important short-term watch point, as a large number of Bitcoin holders are holding at this price level. On the other hand, trader Roman warns that multiple bearish signals indicate the bull market may be coming to an end, especially the weekly stochastic relative strength index (RSI) showing an overbought condition. Recently, the market has seen various short-term price forecasts, including a target price of $116,000 and a potential pullback risk to $90,000. This article does not constitute investment advice; investors should conduct their own research and judgment.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.