A Overview of Crypto News You Might Have Missed During the Holidays

During the May Day holiday, many people put down their screens and immersed themselves in life, but the cryptocurrency world never sleeps. From Elon Musk's endorsement of GORK, Binance Alpha's continuous listings, to OKX DEX's full restoration, Movement's market-making scandal, and Apple's relaxation of App Store encryption-related rules, as well as the move by the U.S. stock-listed company Strategy to increase its Bitcoin holdings, all reflect the ongoing changes in the macro environment and regulations.

In this issue, BlockBeats has selected and compiled the major crypto news during the holiday period for readers to systematically review and assess the market's direction.

Binance Alpha Listing Update

On May 1, Binance Alpha listed SHADOW, Anon, BEETS, GORK (New XAI gork), Housecoin (House);

On May 3, Binance Alpha listed OBOL;

On May 5, according to the official website, Binance Alpha listed BOOP, JAGER, DONKEY.

Binance airdropped BOOP to eligible users, with each account receiving 291 BOOP, worth approximately $95. It is worth noting that according to a query by @ai_9684xtpa to Binance customer service, the Binance customer service stated that the BOOP airdrop standard is an Alpha score of not less than 137, or an Alpha score of not less than 99 points and a Binance UID ending in 4.

OKX DEX Full Service Restoration

On May 5, OKX CEO Star announced that "OKX DEX will restart today, equipped with real-time abuse detection and blocking systems. OKX Web3 is a Chrome browser and search engine that connects to the blockchain.

Based on our understanding of on-chain data, we help customers access data from hundreds of blockchains in real time, manage assets on multiple chains, and interact with millions of decentralized applications (dApps)."

According to official sources, all services of OKX DEX have now been officially restored. The officials stated that this upgrade focuses on strengthening the black address library, risk detection, and proactive risk control system to effectively intercept malicious behavior, safeguarding user asset security. At the same time, OKX Wallet has been redesigned to provide one-stop trading services, optimize market discovery, empower users to discover more trading opportunities, make better trading decisions, and significantly improve on-chain trading efficiency and experience.

Musk-Backed Meme Coin Gork

On May 1st, Moonshot launched the Solana-based meme coin GORK (New XAI gork), with a market cap exceeding $50 million within 5 hours.

On May 3rd, Musk followed the gork X account and replied with a smiling face emoji to a related tweet. He also asked the gork X account on X, "Can X make Grok no longer hate the word 'Retard'?" Subsequently, the gork market cap surpassed $70 million.

On May 5th, Musk changed his X profile picture to a "gork" themed meme image and updated his X nickname to "gorklon rust," previously known as "Elon Musk." Influenced by Musk changing his X profile picture, gork saw a short-term surge of over 107% before falling back, with the market cap reaching as high as $100 million before dropping to $46 million.

Pancake Former Lead dingaling Launches Meme Coin Launchpad Boop.fun

On April 30th, NFT Whale and Pancake's former lead dingaling announced the launch of the Solana-based token issuance platform Boop.fun, which will conduct an airdrop to reward trading users.

On May 1st, according to GMGN market data, the Solana-based meme coin launch platform Boop.fun's native token BOOP briefly exceeded a $5 billion market cap, currently valued at $4.61 billion, with a trading volume of $62.2 million within 1.5 hours of launch. On May 5th, as per official announcements, Binance Alpha launched BOOP on the BSC chain.

Boop.fun introduced a plan to airdrop 1.5 billion BOOP tokens, primarily targeting social media influencers and active Solana traders. The airdrop is valued at around $350,000 but requires participants to promote the token for a quick unlock, sparking some controversy. Some users believe this favors whales, with limited benefits for regular retail holders.

According to PineAnalytics data, Boop.fun created 10,877 tokens on its first day, with 153 tokens successfully "graduating" to external exchanges (such as Raydium), with an on-chain trading volume of 138,500 SOL and a platform fee of 1,400 SOL captured. However, Adam_Tehc data indicates that by May 4th, the number of tokens created had dropped by 90% to 1,072, daily active addresses decreased from 39,000 to 6,800, suggesting a decline in user engagement after the initial hype.

Movement Market Maker Scandal, Co-founder Suspended

After Movement Labs' native token MOVE was listed on Binance and other exchanges in December 2024, market maker Web3Port was accused of dumping 66 million MOVE tokens, profiting $38 million and causing a price collapse. As a result, Binance penalized the market maker and froze its profits.

A Coindesk investigation revealed that the Movement Foundation had entered into a market making agreement with an entity named Rentech, which controlled about 5% of the MOVE token supply. The agreement contained controversial clauses allowing Rentech to dump its holdings once the fully diluted valuation of MOVE reached $5 billion and share the profits equally with the foundation, sparking concerns about "self-dealing arbitrage" in the market.

The agreement was initially promoted internally by Rushi Manche. On May 2nd, Movement Labs announced the temporary suspension of Rushi Manche, citing a third-party firm, Groom Lake, conducting a review of the organization's governance and recent market maker events.

Impacted by the scandal, Coinbase announced the suspension of MOVE token trading starting from May 15, 2025, stating that it failed to meet listing standards. The MOVE token price experienced a significant drop after the scandal came to light, plummeting by 22.3% on May 2nd to around $0.1951.

Further reading: "Unveiling the Movement Market Maker Dumping Scandal: Secret Contracts, Shadow Advisors, and Hidden Intermediaries"

Trump's Recent Moves

On May 1st, he hinted at an upcoming "big beautiful bill," possibly even bigger than tariffs. Regarding a trade deal, Trump said, "I think we're doing very well." On May 2nd, he mentioned he was diligently crafting the "big beautiful bill" and just received the latest update from congressional leaders on the tax bill, warning that if the big bill doesn't pass, taxes will increase by 68%. The tax bill is progressing smoothly and proceeding as planned.

On May 4th, Trump stated that he does not anticipate a third presidential term.

On May 5, when asked if he would fire Powell before 2026, Trump gave his most explicit denial so far: "No, no, no. Why would I do that? I can wait, anyway, it won't be long before I can replace him."

Furthermore, Trump played down concerns about the possibility of an economic recession, stating that the U.S. is currently in a transitional period. He said he is not worried that the economy will shrink during his term, but also did not rule out this possibility. When further pressed on whether he would take responsibility for the impact of his tariff policy on the economy, Trump said he would ultimately take responsibility for everything.

On May 5, Trump released a TRUMP Meme Coin banquet poster on his social platform Truth Social. Previously, the TRUMP team announced that Trump himself would personally attend the banquet on May 22.

Other News

Strategy Launches "42/42 Plan" to Raise $84 Billion for Bitcoin Purchase in Two Years

On May 2, Strategy shifted its focus to Bitcoin rather than its software business. The company reported a first-quarter loss of $4.23 billion ($16.49 per share), far exceeding expectations. Revenue fell 3.6% to $1.111 billion, missing forecasts.

The company introduced the ambitious "42/42 Plan," aiming to raise $84 billion over two years to purchase Bitcoin, following last year's implementation of the $42 billion "21/21 Plan." Analysts say that despite market volatility, the stock remains a strong proxy for Bitcoin, trading at 2.13 times net asset value, showing a stable performance.

Apple Relaxes U.S. App Store Rules Related to Cryptocurrency

On May 3, Apple updated the iOS App Store review guidelines following a court ruling this week, relaxing restrictions on developers in the U.S. App Store. The new rules allow developers to offer external payment methods in their apps and support users to purchase non-fungible tokens (NFTs) through third-party markets.

It is worth noting that cryptocurrency apps still need to comply with strict Apple regulations, including prohibitions on offering rewards tokens for completing tasks, conducting initial coin offerings (ICOs), and engaging in device mining by users.

Sora Aoi Meme Coin MIKAMI Presale Ends, Raising a Total of 23,333 SOL, Equivalent to $3.47 Million

On May 3, the presale of the Sora Aoi Meme Token MIKAMI ended at 11:00 AM, raising a total of 23,333 SOL (equivalent to $3.47 million) within 72 hours. Additionally, according to @1999_eth's data dashboard, the distribution shows that 0-1 SOL contributors account for 77%, 1-10 SOL contributors account for 19.6%, and contributors with over 10 SOL only make up 3.4%.

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