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According to the official blog, Paradigm has submitted a comment letter to the U.S. Department of the Treasury regarding the rulemaking for state-level regulatory pathways under the GENIUS Act. Paradigm supports the core framework of the proposal but points out that without addressing four issues, the state-level pathway will not effectively serve issuers.First, the proposal anchors the federal framework to the yet-to-be-finalized OCC regulations, requiring states and issuers to plan based on an undecided benchmark, which directly hinders market access. The Treasury should not finalize this rule before the OCC's implementation rules are finalized.Second, the proposal requires unanimous agreement from the heads of the Treasury, the Federal Reserve, and the FDIC to certify the state-level system, but does not set a decision timeline, veto explanation standards, or mechanisms to prevent a single member from indefinitely blocking certification. Paradigm suggests establishing a 180-day decision deadline, creating a corrective process for supplementary submissions, and requiring specific veto explanations.Third, the proposal mandates that the state-level system maintain a reserve fund for 12 months of operating expenses, which may crowd out early issuers. It is suggested that states be allowed to adjust reserve fund requirements based on the size and risk profile of the issuer. Fourth, the proposal fails to adequately preempt hostile actions from individual states, and this loophole must be addressed.

Uniswap's governance proposal aims to extend the protocol fee collection and burning infrastructure to BNB Chain and Polygon, and to complete the fee activation process on Celo that was not executed due to a configuration error.The proposal includes: setting the fee receiving address for the V2 protocol on BNB Chain, Polygon, and Celo to TokenJar, and designating the V3 Factory owner on the relevant chains as V3OpenFeeAdapter; additionally, Celo will transfer the feeToSetter role and V4 PoolManager ownership to CrossChainAccount.The proposal states that fees from each chain will be aggregated into the corresponding TokenJar, and then UNI will be bridged back to the Ethereum mainnet and sent to the burn address.

According to Jinshi reports, the Federal Reserve meeting minutes show that participants generally believe the Middle East conflict could have a significant impact on risk balance and the appropriate policy path.

OpenAI co-founder and former Tesla AI director Andrej Karpathy officially announced his joining of Anthropic, stating, "I believe the next few years will be a particularly critical phase for the cutting-edge development of large language models (LLM). I am very excited to join the team here and return to research and development work.I remain passionate about the field of education and plan to continue advancing related work at the appropriate time in the future."

According to Jinshi reports, the market has currently priced in a probability of over 30% for interest rate hikes before December. After the unexpectedly strong PPI data in the U.S. for April, the market believes it will be almost more difficult for the Federal Reserve to justify any rate cuts this year.The April PPI rose by 1.4%, significantly higher than the general expectation of 0.5% from economists, indicating that inflationary pressures are stronger than expected and reinforcing the trend of the market repricing the interest rate path.

Paradigm general partner Dan Robinson proposed the "Proof of Address Control Timestamp" (PACTs) mechanism, aimed at providing a protection path for Bitcoin addresses against potential threats from quantum computing.This solution allows holders to generate address control proofs through BIP-322 and create on-chain commitments using a random salt value, completing time anchoring with OpenTimestamps to establish ownership proof without disclosing wallet information. If quantum-vulnerable addresses are frozen in the future through a soft fork, users can submit STARK zero-knowledge proofs to unlock their assets when spending. This mechanism also provides a potential recovery path for wallets derived from BIP-32, but its implementation still relies on Bitcoin introducing STARK verification capabilities and gaining community consensus.

The Hyperliquid Policy Center (HPC) announced that it has formally submitted a comment letter regarding the U.S. Commodity Futures Trading Commission (CFTC) Advance Notice of Proposed Rulemaking (ANPRM) on prediction markets, advocating for the establishment of a clear compliance path for decentralized prediction markets based on public, permissionless blockchains while improving the regulatory framework for centralized prediction markets.In the comment letter, HPC calls on the CFTC to develop more flexible, function-oriented rules to accommodate decentralized market structures; to establish clear legal channels for U.S. market participants to access decentralized prediction markets; and to promote the U.S. leading position in decentralized financial innovation. HPC stated that prediction markets are a natural extension of the federal derivatives framework, helping participants directly manage their economic risk exposure to real-world events and aggregating dispersed information through continuously updated market prices, whose price discovery capabilities have been widely validated, even outperforming traditional polls and expert forecasts.It pointed out that decentralized prediction markets based on public blockchains have advantages such as transparency, non-custodial nature, and high resilience, not relying on centralized operators to hold user funds, and there is no single point of failure risk; all transactions are recorded in real-time on a public ledger, facilitating regulation and market oversight, while market access standards are more transparent and uniform.HPC emphasized that current rulemaking should not solidify reliance on a single exchange operator, custodial intermediaries, and traditional settlement monitoring mechanisms, as this would hinder U.S. users' legitimate participation in decentralized prediction markets. It stated that it will continue to promote compliance access for U.S. market participants to Hyperliquid and HIP-4 outcome markets and will maintain communication with the CFTC.

According to Jinshi News, Max Stainton, Senior Global Macro Strategist at Fidelity International, stated in a report that the outlook for U.S. interest rates for the remainder of the year will increasingly depend on the duration of the Middle East conflict. Fidelity's baseline scenario remains slightly more dovish than market pricing, expecting that the incoming Federal Reserve Chairman Waller and the committee will generally lean towards mitigating the damage caused by energy shocks to economic growth. However, as the risk of a prolonged closure of the Strait of Hormuz increases, the risk of energy price shocks spreading to broader inflation shocks and affecting the overall economy has become clearly visible. "We still expect a rate cut this year, but the risks are clearly skewed towards no action being taken throughout the year."

According to Jinshi News, major investment banks have conducted forward-looking analyses on the Federal Reserve's future interest rate path. Wells Fargo and ING both expect the Federal Reserve to cut rates by 25 basis points in September and December. ANZ believes that the rate-cutting cycle may restart in the third quarter. Goldman Sachs and Barclays also stated that if inflation falls, the Federal Reserve will ease policy around September. Bank of America predicts that the rate cut could reach 50 basis points.

According to Jin Shi's report, Mike Sanders, the head of fixed income at Madison Investments, stated in a report that the market will focus on how Federal Reserve Chairman Powell describes the committee's consensus view on the recent rise in inflation and the future policy path, especially as Powell's term as chairman is coming to an end. He noted that rising oil prices could lead to persistently high inflation rates, and investors are eager to understand the committee's view on risk balance.

ChainCatcher reported live that Franklin Bi, partner at Pantera Capital, Mykolas Majauskas, senior policy director at Bybit, and Zeng Yuchao, managing director at Futu Group, jointly attended the HK Web3 Feastival roundtable to share "From the Ground Up to the Entry Point: The Path of Crypto Assets to Mainstream Finance."Zeng Yuchao introduced that Futu is the largest retail brokerage in Hong Kong, with a market share of over 50%. In January this year, it obtained the VATP license, and last month removed all additional conditions to achieve full integration of securities brokerage and crypto trading. Last year, Futu collaborated with Huaxia Fund to issue a tokenized money market fund, allowing T+0 same-day subscriptions and redemptions. In terms of AI, Futu has launched the Agent skill feature, enabling users to set strategies through natural language and execute trades automatically. He believes that in the future, there will be a transformation from graphical interfaces to AI interfaces.Mykolas Majauskas pointed out that companies currently complaining about regulation will miss this honeymoon period in the future, as larger-scale regulation is on the way. He analyzed global regulatory differences: Europe leads with MiCA, the U.S. supports private issuance, China supports government digital currency, and Hong Kong serves as a tokenization gateway. He warned that many native crypto companies claim to disrupt traditional finance but are actually being acquired by traditional institutions. He believes the fundamental change in AI is at the front end: users only need to express their intentions, and AI autonomously decides to execute strategies. Bybit is building a one-stop financial platform that integrates IBAN, cards, payments, and investments. He believes many traditional wealth management companies will be eliminated because they have historically made you feel wealthy rather than truly helping you accumulate wealth.Franklin Bi stated that blockchain is the perfect technology for building financial systems for AI Agents. When Agents choose between traditional accounts and stablecoins, they are opting for stablecoins, marking the beginning of an exponential trend.

ChainCatcher reports live that Lily Liu, President of the Solana Foundation, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. She pointed out from a macroeconomic perspective that global production, users, and resources are distributed globally, but capital formation is not; only 20 stock exchanges in 14 countries account for 94% of the global market value of approximately $145 trillion, with two-thirds concentrated in the United States. This means that about 180 countries have almost no access to capital markets, and their economies can only rely on debt rather than equity financing, failing to provide ownership pathways for their citizens.She proposed the vision of an "Internet Capital Market," where any asset from anywhere can raise capital from anyone globally, priced in dollars and settled on an open track. Stablecoins are the key infrastructure for this vision, enabling any country to participate in the global financial system, while Solana provides the underlying settlement and execution layers. She also contrasted "Universal Basic Ownership" (UBO) with the widely discussed "Universal Basic Income" (UBI) in the AI era, arguing that blockchain allows anyone with a mobile phone to hold a part of their country's economy, representing basic property rights in the digital age without resorting to placing everyone in a welfare system.

According to Jinshi reports, Federal Reserve's Daly stated that the future path of interest rates will depend on the duration of the conflict; if the conflict ends quickly, policy will return to the previous path of interest rates.