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On May 8, Mantle token holders approved a credit line of up to 30,000 ETH (approximately $68 million) to Aave DAO through the MIP-34 proposal. This move aims to help address potential bad debt issues arising from the rsETH attack incident in April, which is estimated to have caused bad debts between $123.7 million and $230.1 million for Aave V3.

[Mantle Token Holders Approve $68 Million Credit Line to Aave to Address rsETH Attack]On May 8, Mantle token holders approved a credit line of up to 30,000 ETH (approximately $68 million) to Aave DAO through the MIP-34 proposal. This move aims to help address potential bad debt issues arising from the rsETH attack incident in April, which is estimated to have caused bad debts between $123.7 million and $230.1 million for Aave V3.

Mantle Token Holders Approve $68 Million Credit Line to Aave to Address rsETH Attack

According to Beating Monitoring, China's first dual-core atomic quantum computer, developed by a team led by the Chinese Academy of Sciences in collaboration with Wuhan University, Huazhong University of Science and Technology, and the Wuhan Quantum Technology Research Institute, has been officially released. This quantum computer upgrades the quantum processor from 'single-core' to 'dual-core' for the first time, providing crucial support for the autonomy of high-end computing power. Named 'Han Yuan No. 2', this supercomputer does not contain traditional chips; instead, it uses a precise optical system to control 200 atoms for computation. Technicians explained that these 200 atoms function like 200 super brains, organized into two arrays to form a dual-core architecture, with one array dedicated to computation and the other for real-time error correction, effectively doubling efficiency. Compared to 'Han Yuan No. 1' released two years ago, 'Han Yuan No. 2' has improved the accuracy of atomic operations from 90% to 99%, and the stable survival time of atoms has increased from 20 seconds to over 100 seconds. Meanwhile, its total power consumption is less than 7 kilowatts, eliminating the need for a cryogenic cooling system, allowing it to operate stably in a regular laboratory environment.

[China's First Dual-Core Atomic Quantum Computer Successfully Developed]According to Beating Monitoring, China's first dual-core atomic quantum computer, developed by a team led by the Chinese Academy of Sciences in collaboration with Wuhan University, Huazhong University of Science and Technology, and the Wuhan Quantum Technology Research Institute, has been officially released. This quantum computer upgrades the quantum processor from 'single-core' to 'dual-core' for the first time, providing crucial support for the autonomy of high-end computing power. Named 'Han Yuan No. 2', this supercomputer does not contain traditional chips; instead, it uses a precise optical system to control 200 atoms for computation. Technicians explained that these 200 atoms function like 200 super brains, organized into two arrays to form a dual-core architecture, with one array dedicated to computation and the other for real-time error correction, effectively doubling efficiency. Compared to 'Han Yuan No. 1' released two years ago, 'Han Yuan No. 2' has improved the accuracy of atomic operations from 90% to 99%, and the stable survival time of atoms has increased from 20 seconds to over 100 seconds. Meanwhile, its total power consumption is less than 7 kilowatts, eliminating the need for a cryogenic cooling system, allowing it to operate stably in a regular laboratory environment.

China's First Dual-Core Atomic Quantum Computer Successfully Developed

On May 8, according to AUSTRAC's official website, Australia's financial intelligence agency AUSTRAC announced the initiation of two special regulatory inspections in the country's virtual asset industry. One inspection targets 36 over-the-counter cryptocurrency exchange operators, focusing on assessing their management of money laundering risks associated with cryptocurrency-to-fiat exchanges. The other inspection involves 27 local cryptocurrency exchanges, evaluating their compliance preparedness for the new regulatory framework. This inspection aligns with Australia's anti-money laundering regulatory reforms that came into effect on March 31, which expanded the regulatory scope from traditional exchanges to include custodians, brokers, and other virtual asset service providers (VASPs).

[Australia's Anti-Money Laundering Regulator Launches Special Inspections on 63 Crypto Firms]On May 8, according to AUSTRAC's official website, Australia's financial intelligence agency AUSTRAC announced the initiation of two special regulatory inspections in the country's virtual asset industry. One inspection targets 36 over-the-counter cryptocurrency exchange operators, focusing on assessing their management of money laundering risks associated with cryptocurrency-to-fiat exchanges. The other inspection involves 27 local cryptocurrency exchanges, evaluating their compliance preparedness for the new regulatory framework. This inspection aligns with Australia's anti-money laundering regulatory reforms that came into effect on March 31, which expanded the regulatory scope from traditional exchanges to include custodians, brokers, and other virtual asset service providers (VASPs).

Australia's Anti-Money Laundering Regulator Launches Special Inspections on 63 Crypto Firms

On May 8, with the official implementation of Australia's crypto regulatory reform, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced today the launch of two oversight actions targeting the virtual asset industry. AUSTRAC stated on social media that it is engaging with dozens of crypto companies and trading platforms, focusing on how they manage anti-money laundering and counter-terrorism financing (AML/CTF) risks and preparing for the upcoming reforms. The oversight actions primarily target over-the-counter (OTC) operators and local trading platforms. The new laws have expanded the regulatory scope to include custody and brokerage services. This reform marks a further enhancement of Australia's regulatory framework for the crypto industry, aimed at improving compliance standards and mitigating financial crime risks.

[Australia's Crypto Regulatory Reform Takes Effect, AUSTRAC Launches Two Industry Oversight Actions]On May 8, with the official implementation of Australia's crypto regulatory reform, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced today the launch of two oversight actions targeting the virtual asset industry. AUSTRAC stated on social media that it is engaging with dozens of crypto companies and trading platforms, focusing on how they manage anti-money laundering and counter-terrorism financing (AML/CTF) risks and preparing for the upcoming reforms. The oversight actions primarily target over-the-counter (OTC) operators and local trading platforms. The new laws have expanded the regulatory scope to include custody and brokerage services. This reform marks a further enhancement of Australia's regulatory framework for the crypto industry, aimed at improving compliance standards and mitigating financial crime risks.

Australia's Crypto Regulatory Reform Takes Effect, AUSTRAC Launches Two Industry Oversight Actions

On May 8, Cango, a Bitcoin mining company listed on the US stock market, released its operational update for April, reporting an output of 230.04 BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC.

[Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC]On May 8, Cango, a Bitcoin mining company listed on the US stock market, released its operational update for April, reporting an output of 230.04 BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC.

Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC

On May 8, the National Internet Information Office, the National Development and Reform Commission, and the Ministry of Industry and Information Technology jointly issued the 'Implementation Opinions on the Application and Innovative Development of Intelligent Agents.' The 'Implementation Opinions' clarify that the development of intelligent agents should adhere to the basic principles of safety and controllability, standardized and orderly development, innovation-driven approaches, and application-led initiatives. It proposes four key measures: First, solidifying the development foundation by improving the technological base and constructing standard protocols. Second, maintaining a strong safety baseline by clarifying product standards, preventing security risks, enhancing governance systems, and strengthening industry self-regulation. Third, reinforcing application-led initiatives by proposing 19 typical application scenarios focused on scientific research, industrial development, boosting consumption, improving public welfare, and social governance. Fourth, building an innovative ecosystem to promote industrial cooperation and strengthen application promotion. (Source: Jinshi Data APP)

[Three Departments Issue Implementation Opinions on the Application and Innovative Development of Intelligent Agents]On May 8, the National Internet Information Office, the National Development and Reform Commission, and the Ministry of Industry and Information Technology jointly issued the 'Implementation Opinions on the Application and Innovative Development of Intelligent Agents.' The 'Implementation Opinions' clarify that the development of intelligent agents should adhere to the basic principles of safety and controllability, standardized and orderly development, innovation-driven approaches, and application-led initiatives. It proposes four key measures: First, solidifying the development foundation by improving the technological base and constructing standard protocols. Second, maintaining a strong safety baseline by clarifying product standards, preventing security risks, enhancing governance systems, and strengthening industry self-regulation. Third, reinforcing application-led initiatives by proposing 19 typical application scenarios focused on scientific research, industrial development, boosting consumption, improving public welfare, and social governance. Fourth, building an innovative ecosystem to promote industrial cooperation and strengthen application promotion. (Source: Jinshi Data APP)

Three Departments Issue Implementation Opinions on the Application and Innovative Development of Intelligent Agents

On May 8, U.S. President Trump posted an image stating that oil prices have dropped by 25% or $30 per barrel since the Biden administration, now standing at $90 per barrel.

[Trump Claims Oil Prices Have Decreased]On May 8, U.S. President Trump posted an image stating that oil prices have dropped by 25% or $30 per barrel since the Biden administration, now standing at $90 per barrel.

Trump Claims Oil Prices Have Decreased

On May 8, Cango, a Bitcoin mining company listed on the U.S. stock market, released its operational update for April, reporting an output of 230.04 BTC with an average cash cost of $68,061 per BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC. The total operational hash rate is 31.58 EH/s, consisting of 20.43 EH/s from self-mining and 11.15 EH/s from hash rate leasing.

[Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC]On May 8, Cango, a Bitcoin mining company listed on the U.S. stock market, released its operational update for April, reporting an output of 230.04 BTC with an average cash cost of $68,061 per BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC. The total operational hash rate is 31.58 EH/s, consisting of 20.43 EH/s from self-mining and 11.15 EH/s from hash rate leasing.

On May 8, analyst Murphy stated that while the market is generally focused on the $60,000 price low, chip structure analysis reveals that Bitcoin's true bottom may be in the dense trading zone around $66,000. Data shows that approximately 440,000 BTC have accumulated in this position, with 240,000 of that turnover occurring between February and April. Currently, the chip ratio in the $65,000 to $78,000 range has reached 13.8%. Although this is still below the 18.7% level prior to the FTX collapse in October 2022, considering that traditional funds such as ETFs and MicroStrategy have locked about 13% of circulating chips at relatively high levels during this cycle, the current ratio provides a foundation for building a bottom structure. If the market can experience a second retest and achieve further turnover in this range, it will solidify the bottom foundation and enhance its 'resilience.' The true bottom should not be judged by the lowest price ($60,000) but rather by the trading zone where large capital has concentrated (around $66,000). Currently, turnover in the $78,000 to $82,000 range remains insufficient, and market divergences still need to be resolved.

[Analysis: Chip Structure Indicates BTC Bottom Formation, $66,000 as Real Capital Entry Zone]On May 8, analyst Murphy stated that while the market is generally focused on the $60,000 price low, chip structure analysis reveals that Bitcoin's true bottom may be in the dense trading zone around $66,000. Data shows that approximately 440,000 BTC have accumulated in this position, with 240,000 of that turnover occurring between February and April. Currently, the chip ratio in the $65,000 to $78,000 range has reached 13.8%. Although this is still below the 18.7% level prior to the FTX collapse in October 2022, considering that traditional funds such as ETFs and MicroStrategy have locked about 13% of circulating chips at relatively high levels during this cycle, the current ratio provides a foundation for building a bottom structure. If the market can experience a second retest and achieve further turnover in this range, it will solidify the bottom foundation and enhance its 'resilience.' The true bottom should not be judged by the lowest price ($60,000) but rather by the trading zone where large capital has concentrated (around $66,000). Currently, turnover in the $78,000 to $82,000 range remains insufficient, and market divergences still need to be resolved.

Analysis: Chip Structure Indicates BTC Bottom Formation, $66,000 as Real Capital Entry Zone

Huobi Global data showed that BTC fell below 44000 USDT and is now at 43985.38 USDT, with a decrease of 1.74% in 24H.

[BTC fell below 44000 USDT] Huobi Global data showed that BTC fell below 44000 USDT and is now at 43985.38 USDT, with a decrease of 1.74% in 24H.

BTC fell below 44000 USDT

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TWT fluctuated over 50% in 24 hours!

ETH falls below 2300 USDT

BTC fell below 44000 USDT

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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