Weekly Preview | The Federal Reserve FOMC announces the interest rate decision; The U.S. House of Representatives may release a cryptocurrency regulatory draft before the hearing on May 6.

News Preview:
Insider: The U.S. House of Representatives will release a cryptocurrency regulatory draft before the hearing on May 6.
Shardeum will conduct its TGE on May 5, with details on airdrops and token distribution to be announced soon.
The Federal Reserve FOMC will announce the interest rate decision.
Superseed: The SUPR token is set to open for claims on May 5.
The Ethereum Pectra upgrade is scheduled to go live on May 7, optimizing staking and wallet functions.
Coinbase plans to launch 24/7 Bitcoin and Ethereum futures trading on May 9.
May 5
Exchanges:
Hyperliquid: A new fee system and staking levels will be launched on May 5.
Hyperliquid announced on X platform that the new fee system and staking levels will go live around 11 AM Beijing time on May 5. Changes include: staking HYPE can reduce trading fees; different fee rate tables for perpetual contracts and spot trading; spot trading volume is counted as double when calculating fee levels. The association function between staking accounts and trading accounts is now live on the testnet. This feature allows users to apply the staking discount of one account to another different trading account. This function is expected to be officially launched shortly after the new fee system and staking levels go live.
Binance contracts plan to adjust the mark price on May 5.
According to the official announcement, starting from May 5, 2025, at 17:00 (UTC+8), Binance contracts will adjust the mark price, changing the price basis from 2.5 minutes to 1 minute.
Project updates:
Shardeum will conduct its TGE on May 5, with details on airdrops and token distribution to be announced soon.
Layer1 blockchain Shardeum announces that it will conduct TGE (Token Generation Event) on May 5, with more details regarding SHM token airdrops, sales distribution, and listings to be announced soon.
IOTA: The Rebased network is set to upgrade on May 5.
The IOTA Rebased network upgrade is set for May 5, 2025, at which point it will migrate from the Stardust network to the new IOTA network. The Rebased upgrade will be seamless for IOTA token holders, requiring no token migration; users only need to load their existing wallets into the new wallet to start using it.
Superseed: The SUPR token is set to open for claims on May 5.
The lending platform Superseed announced on X platform that the SUPR token will open for claims at 10:00 PM Beijing time on May 5, with no claim deadline, but it can only be claimed on the Superseed mainnet.
Token unlock:
Ethena (ENA) will unlock approximately 171 million tokens at 3 PM Beijing time on May 5, which is 3.10% of the current circulation, valued at approximately $50 million.
May 6
Policy Regulation:
Insider: The U.S. House of Representatives will release a cryptocurrency regulatory draft before the hearing on May 6.
Insiders revealed that House Financial Services Committee Chairman French Hill and others are expected to release a cryptocurrency regulatory draft before the hearing scheduled for May 6 (local time). The hearing will take place at 10 AM Eastern Time on the 6th, with the theme 'The Future of American Innovation and Cryptocurrency: A Blueprint for the 21st Century.' It is expected to focus on long-awaited legislation to define the structure of the U.S. cryptocurrency market. The draft is anticipated to be similar to last year's House-passed (Financial Innovation and Technology Act) (FIT 21). A staff member from the House Agriculture Committee also confirmed that the draft text will be released before the hearing.
The committees of the House and Senate have advanced bills focused on stablecoins, while legislation regulating the entire cryptocurrency industry is seen as the next step. President Donald Trump has expressed a desire to see a stablecoin bill before August, although some suggest that these bills may be interrelated.
The U.S. House Financial Services Committee and Agriculture Committee will hold a joint hearing on May 6 to discuss the legislative blueprint for digital assets.
U.S. lawmakers return to Congress after the Easter recess, prioritizing cryptocurrency legislation, aiming to complete stablecoin and market structure bills before the August deadline set by President Trump. The House Financial Services Committee and Agriculture Committee will hold a joint hearing on May 6 to discuss the legislative blueprint for digital assets. The Senate is also consolidating the contents of the 2022 Lummis-Gillibrand bill and the FIT21 bill.
Project updates:
Sonic Labs: Sonic will upgrade on May 6 to support native USDC and CCTP V2.
Sonic will suspend bridging of USDC.e starting May 6, subsequently upgrading to native USDC and integrating CCTP V2, with the entire process expected to take about a week. After the upgrade, users will not need to take any action, as USDC.e will automatically convert to native USDC, supporting faster and safer cross-chain transfers, while integrating with chains such as Avalanche, Base, Ethereum, and Linea. The original USDC contract address remains unchanged, only the name is updated to USDC.
Token unlock:
Spectral (SPEC) will unlock approximately 10 million tokens at 8 AM Beijing time on May 6, which is 70.90% of the current circulation, valued at approximately $24.6 million.
May 7
Exchanges:
Binance announces the launch time for the Alpha and contract tokens Obol, with the point threshold to be announced on May 7.
Binance will launch the token Obol (OBOL) at the following times:
1. Binance Alpha: May 7, 2025, at 6 PM (UTC+8)
2. Binance Contracts: May 7, 2025, at 6:30 PM (UTC+8)
To prevent congestion on the Ethereum network, users are advised to use limit orders to participate in trading on Binance Alpha. Users who meet the Alpha point threshold will receive airdrops within 20 minutes after the token goes live, with the point threshold to be announced on May 7.
Project updates:
The Ethereum Pectra upgrade is scheduled to go live on May 7, optimizing staking and wallet functions.
Ethereum developers have officially set the launch time for the Pectra upgrade mainnet as May 7, 2025. This upgrade is the largest system update since March 2024, including 11 improvement proposals (EIPs), focusing on wallet contract functionality (enhancing usability and recovery) and EIP-7251 (increasing the maximum stake limit from 32 ETH to 2048 ETH for a single node). The upgrade has successfully run on the Hoodi testnet.
Pharos Network announces the launch of its testnet on May 7.
Pharos Network, focusing on the RWA track, announced today that its testnet will officially launch on May 7. The released testnet aims to showcase Pharos' innovative Layer 1 solution, which has high throughput and can enhance on-chain transaction speed; at the same time, EVM compatibility allows developers to migrate and deploy Ethereum applications, thereby accelerating the development of the on-chain RWA ecosystem.
Token unlock:
Neon (NEON) will unlock approximately 53.91 million tokens at 8 AM Beijing time on May 7, which is 22.51% of the current circulation, valued at $6.2 million.
May 8
Macroeconomics:
On Thursday at 2:00 PM, the Federal Reserve FOMC will announce the interest rate decision;
On Thursday at 2:30 PM, Federal Reserve Chair Powell will hold a monetary policy press conference;
Policy Regulation:
The U.S. Department of Justice seeks a 20-year prison sentence for Celsius founder Mashinsky, with the verdict set for May 8.
The U.S. Department of Justice requests a 20-year prison sentence for former Celsius Network CEO Alex Mashinsky, accusing him of orchestrating a fraud that led to nearly $7 billion in customer losses. The verdict will be delivered on May 8. Prosecutors emphasized that his actions were 'intentional and meticulously planned' fraud, rather than negligence. Celsius managed over $20 billion in customer assets in 2021 but filed for bankruptcy in 2022 due to unsecured loans and risky trading, freezing approximately $4.7 billion in customer funds.
May 9
Macroeconomics:
On Friday at 6:15 PM, FOMC permanent voter and New York Fed President Williams will deliver a keynote speech at the 2025 Reykjavik Economic Conference.
On Friday at 11:30 PM, FOMC permanent voter and New York Fed President Williams will deliver a speech at the Hoover Monetary Policy Conference (via pre-recorded video).
Exchanges:
Coinbase plans to launch 24/7 Bitcoin and Ethereum futures trading on May 9.
Coinbase will launch its first U.S.-regulated 24x7 Bitcoin and Ethereum futures contracts through its derivatives division, with trading starting on May 9.
Project updates:
The Ethereum ERC-7828 and ERC-7930 standards are expected to be officially finalized on May 9.
The Ethereum core development team is about to complete the formulation of two key standards aimed at solving address recognition issues in cross-chain interactions. The ERC-7828 and ERC-7930 standards are expected to be officially finalized on May 9, currently undergoing final community feedback collection in the Ethereum Magicians forum. It is understood that the ERC-7930 standard will provide a unified network identification format for the system, while the ERC-7828 standard aims to convert complex cryptographic addresses into more recognizable 'name@service' formats. This improvement will effectively reduce the risk of asset loss due to users' incorrect network selection.
It is noteworthy that the Ethereum Pectra upgrade has been confirmed to be deployed to the mainnet on May 7. This upgrade was originally scheduled for release in March 2025 but was delayed due to technical issues with the Holesky testnet. The development team stated that the operation on the Hoodi testnet is currently stable.
Galaxy plans to list on Nasdaq on May 16, pending shareholder approval of the restructuring plan on May 9.
Galaxy Digital Holdings (TSX: GLXY) announced plans to list on the Nasdaq Global Select Market on May 16, 2025, pending approval of its restructuring and migration plan by the special shareholder meeting on May 9, and final approval from Nasdaq. If all goes smoothly, the restructured U.S. company Galaxy Digital Inc. will trade on Nasdaq under the code GLXY, while retaining its listing on the Toronto Stock Exchange in the short term.
CEO Mike Novogratz stated that this move will provide Galaxy with a new growth platform, expand its investor base, and better serve the digital asset and AI infrastructure ecosystem. The existing OTC market BRPHF shares will convert to Nasdaq GLXY shares, with no migration costs for shareholders. The migration documents and voting materials have been submitted to the U.S. SEC and Canadian SEDAR platforms.
Token unlock:
Movement (MOVE) will unlock approximately 50 million tokens at 8 PM Beijing time on May 9, which is 2.0% of the current circulation, valued at approximately $8.7 million.
May 10
Project updates:
TON will officially discontinue the Toncoin Bridge on May 10.
TON will officially discontinue the Toncoin Bridge on May 10, at which point users will no longer be able to transfer Toncoin from TON to Ethereum or BNB Smart Chain via that bridge, but previously cross-chain assets can still be claimed. Currently, the bridging functionality of Toncoin and TON will be temporarily retained, with the end date to be announced later.
May 11
Developer Activity:
a16z Speedrun has launched a new round of startup applications, with the deadline for applications set for May 11.
a16z general partner Andrew Chen disclosed on X platform that a16z Speedrun has launched a new round of startup applications, with the deadline for applications set for May 11. a16z Speedrun will provide investments of up to $1 million to very early-stage startups and work closely with them over the next 90 days to support their promotion. The next round of projects will start from July 28 to October 10, 2025.