Crypto Morning Briefing: China agrees to hold talks with the US on tariff issues, Zerebro founder's "fake death" letter exposed

Author: TechFlow

Yesterday's Market Dynamics

Ministry of Commerce announces agreement to hold talks with U.S. on tariff issues

The Ministry of Commerce spokesperson announced today (May 7) that Vice Premier He Lifeng will meet with U.S. Treasury Secretary Bessent during his visit to Switzerland from May 9 to 12. The dialogue will primarily address recent U.S. requests regarding adjustments to tariff measures.

China emphasized that negotiations must be conducted under the principles of mutual respect, equal consultation, and mutual benefit. It reiterated its stance: "Fight, we will fight to the end; talk, the door remains open," urging the U.S. to demonstrate sincerity and correct unilateral tariff practices.

China will continue to uphold openness, safeguard the multilateral trading system, oppose unilateral protectionism, and promote an inclusive and equitable economic globalization.

New Hampshire passes America’s first state-level Bitcoin reserve bill

According to a statement released by the Satoshi Action Fund, New Hampshire has officially signed HB 302 into law, becoming the first U.S. state to pass legislation establishing a “Strategic Bitcoin Reserve” (SBR). The bill authorizes the state treasurer to purchase Bitcoin or digital assets with a market capitalization exceeding $50 billion, with holdings capped at 5% of total reserve funds. Assets must be held in custody through U.S.-regulated multisignature mechanisms or exchange-traded products to ensure transparency and security. The law will take effect 60 days after signing.

The Wall Street Journal wins 2025 Pulitzer Prize for series on Musk

According to Phoenix News, The Wall Street Journal received the 2025 Pulitzer Prize for Domestic Reporting for its series titled "Musk Above the Law." The investigative reports delve into the business empire of the tech magnate, revealing controversial conduct involving SpaceX's relationships with female employees, drug use, secret conversations with Russian President Putin, and political alliances with Trump. The reporting has sparked widespread public discussion on corporate governance and workplace gender equality. Musk, through legal representatives, has denied some allegations, while SpaceX President Gwynne Shotwell has also contested the report’s claims.

Forbes: Wall Street institutions quietly preparing for major surge in Bitcoin and crypto markets

According to Forbes, sources indicate that as Bitcoin advances toward what BlackRock describes as a "geopolitical divergence superpower," Wall Street institutions are quietly preparing for a significant rise in Bitcoin and cryptocurrency markets.

Zerebro founder's "fake death" letter exposed: To escape ongoing harassment and threats

According to the founder of Hey Anon, the letter reveals that the Zerebro founder admitted to faking his own death. He stated that due to persistent harassment from a former partner, malicious doxxing, and online hate, he chose to "permanently exit" via a fabricated death video. He explained this was the only way to prevent a sharp decline in the value of the project’s tokens $ZEREBRO and $OPAIUM, and confirmed that all social media accounts have been deactivated. He plans to focus on a music career under anonymity, stressed that the act was not for profit, and informed family and friends of his safety.

Berachain opens Boyco rewards claim portal

According to official news from the Berachain Foundation, Berachain has opened the Boyco rewards claim portal. Users can visit the official website, connect their wallets, and check their holdings and eligible rewards.

Most pre-pre deposit vault rewards and all deposits must be claimed directly from their respective vaults. Non-$BERA incentives must be claimed through each protocol’s official website based on their token generation event (TGE) and points program.

Haedal: Launches token buyback program, allocating 50% of weekly protocol revenue to repurchase HAEDAL

According to official news, Haedal has announced a token buyback program: every week, 50% of protocol revenue (liquid staking fees + HMM fees + net profit from haeVault) will be used to directly repurchase HAEDAL tokens from the secondary market.

The repurchased HAEDAL tokens will be distributed 100% to veHAEDAL participants proportionally based on their veHAEDAL balances. Actual reward distributions will be executed during the following week’s veHAEDAL epoch after each buyback.

MYX Finance releases tokenomics model and launches MYX airdrop query page, initial airdrop allocation set at 6.7%

According to official news, MYX Finance has released its tokenomics model and launched the MYX airdrop query page.

The total supply of MYX tokens is 1 billion; the total airdrop allocation accounts for 14.7% of total supply; the initial airdrop distribution is 6.7% (67,036,090 MYX).

Space and Time: SXT airdrop query now live, claiming to open on May 8

According to official news, Space and Time has announced that airdrop queries are now available. Gigaclaim 0 will offer eligible community members the opportunity to claim up to 375 million SXT tokens, with claims opening on May 8.

DeFi Development increases SOL holdings by over 82,000, total surpasses 400,000

According to CoinDesk, real estate software company DeFi Development Corporation (formerly Janover) has acquired an additional 82,404 SOL, bringing its total holdings to 400,091 SOL. At the current SOL price of $143, the total value exceeds $57 million.

AI editor Cursor secures $900 million funding; FTX liquidation team sold shares worth $500 million today for $200,000

According to the Financial Times, Anysphere, the company behind AI code editor Cursor, has just completed a $900 million funding round led by Thrive Capital, achieving a staggering valuation of $9 billion. The round attracted top-tier venture capital firms including a16z and Accel.

According to TechFlow research, cryptocurrency exchange FTX was an early seed investor in Cursor. However, after FTX’s bankruptcy and liquidation, its liquidation team sold its stake in Cursor for $200,000—shares now valued at approximately $500 million.

Cursor is an AI-powered code editor experiencing rapid growth. Prior to this round, Anysphere raised a $105 million Series B in late 2023 led by Thrive Capital and Andreessen Horowitz, at a $2.6 billion valuation. In just a few months, its valuation has more than tripled.

Market Trends

Suggested Reading

Alliance Returns for Graduation Season: Overview of 20 Crypto Startups This Round

This article introduces 20 startup projects incubated by crypto accelerator Alliance, spanning sectors such as payments, education, short videos, and advertising. It showcases the application potential of blockchain combined with AI technologies. The article notes that industry development is shifting from internal innovation toward addressing real-world needs and highlights the growing adoption of crypto in Africa, Latin America, and Asia.

CZ subtly claps back at dingaling, netizens pick sides online

This article focuses on recent hot topics in the crypto market, particularly the popularity of the new token $BOOP and controversies surrounding its founder, dingaling. It analyzes CZ’s subtle remarks, dingaling’s background and reputation, and the market performance and future potential of Boop.fun.

150 People Generate $14 Billion Profit: Tether’s Alchemy

This article discusses Tether, one of the world’s most profitable and efficient companies, which generated $14 billion in profit with only 150 employees. Its core product, USDT, is the world’s most widely circulated stablecoin, generating profits through investments in U.S. Treasuries and other instruments. Tether is also diversifying into artificial intelligence, communications, and energy. It plays a vital role in emerging markets, providing financial tools in economically unstable regions and establishing strong liquidity safeguards through partners like Cantor Fitzgerald. Additionally, Tether is committed to advancing decentralized technologies and innovation while staying true to the original vision of cryptocurrency.

Outlier Ventures Q1 2025 Funding Report: L1 and Infrastructure Remain Favorites, VCs Seek “Stable Happiness”

This article examines the fragmented trends in the Web3 funding landscape during Q1 2025. While total funding remained high at $7.7 billion, the number of deals dropped significantly, indicating capital concentration in fewer projects. Infrastructure and Layer 1 projects received strong investor attention, with token fundraising rebounding strongly and both private placements and public sales thriving. Seed-stage financing faced pressure, while later-stage capital deployment remained stable, reflecting a “barbell effect” in the market.

Why Is the Altseason So Late?

This article explores why altseason has been delayed, analyzing the current state of the altcoin market and reasons for the postponement, including Bitcoin’s dominance, macroeconomic pressures, oversupply of altcoins, low retail participation, and regulatory uncertainty, while offering outlooks on the future arrival of altseason.