Preview of Important Events in the Crypto Assets Industry for the Coming Week

May 19

The U.S. Senate will conduct a final vote on the stablecoin regulation bill, the "GENIUS Act." This bill requires that large stablecoin issuers be regulated by the Federal Reserve, while smaller institutions will be regulated at the state level, and all stablecoins must be fully backed by assets such as U.S. dollars or government bonds. If passed, it will become the first federal legislative framework for stablecoins in the United States.

The cryptocurrency exchange Coinbase will officially be included in the S&P 500 index, becoming the first pure encryption business to be included in this index.

A trading platform plans to launch XRP futures, offering two specifications: micro contracts of (2,500 XRP) and large-scale contracts of (50,000 XRP). These contracts will be cash-settled based on the platform's XRP-US Dollar reference rate.

The decentralized AI blockchain platform Sahara AI will launch the SIWA public test network, which is the final testing phase before its mainnet token generation event. Participants can earn reward points through tasks such as data labeling and model validation.

Pyth Network(PYTH) will unlock approximately 2.13 billion coins, accounting for 58.62% of the current circulation, valued at approximately 338 million USD.

May 20

The Texas State Legislature will conduct a second review of the "Texas Strategic Bitcoin Reserve" bill. If passed, Texas will become the third state in the United States to approve the establishment of a Bitcoin reserve. The bill authorizes the state government to purchase digital assets with a market value exceeding $500 billion, currently only including Bitcoin.

The FIFA Collect platform will migrate to the EVM-compatible FIFA exclusive blockchain. Users must re-import their off-chain collectibles to the platform by May 20, otherwise, they will not be able to trade after the migration. After the migration, the platform will support EVM wallets such as MetaMask.

New York City will host the first New York Crypto Summit, with Mayor Eric Adams stating the goal of making New York the "global Crypto Assets capital." The summit aims to establish a platform for dialogue between government and business to explore the applications of digital assets in economic development and public services.

Story and Encode Club will host an online Buildathon, focusing on IP x AI x RWA innovation. The event has set up seven major awards, with a total prize pool of $57,000. Winning projects will have the opportunity to directly pitch to investors.

May 21

The Hong Kong Legislative Council will resume the second reading debate on the "Stablecoin Bill". Once the bill is passed, the Hong Kong Monetary Authority will approve license applications as soon as possible. This is an important step for Hong Kong to improve the regulatory framework for virtual assets and promote industry development.

May 22

The U.S. Commodity Futures Trading Commission ( CFTC ) is soliciting public comments on the extension of trading hours for the derivatives market to 24/7 and the deadline for the use of perpetual contracts.

A Bitcoin mining facility proposal by a certain Crypto Assets mining company in Mountain City, Tennessee, will undergo a review by the local planning committee. The project covers an area of 50.48 acres, is planned to be operational within two months, and will initially provide 12 job positions.

The decentralized cloud computing protocol Aethir will launch a Checker Node NFT buyback program, allowing node holders to sell back their NFTs to the foundation at a pegged price. The initial buyback pool consists of 200 million ATH coins.

The application deadline for YZi Labs' 10-week offline global incubation program EASY Residency is approaching. This program focuses on Web3, AI, and healthcare, providing an entrepreneurial environment and mentorship for 10-20 selected teams.

May 23

THORChain plans to upgrade to version 3.6.0. This upgrade mainly involves the verification and update of the Rujira contract, without including critical fixes or consensus changes.

May 24

The airdrop token claim for the entire chain Rollup L1 network Initia will close at 18:00. Currently, 93% has been claimed, with approximately 3.4 million $INIT tokens remaining to be claimed.