The People's Bank of China, the General Administration of Financial Supervision, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and the People's Government of Guangdong Province recently jointly issued the Opinions on Financial Support for Guangzhou Nansha to Deepen the Comprehensive Cooperation between Guangdong, Hong Kong and Macao Facing the World. The Opinion on Supporting the Development of Digital Industries mentions supporting the construction of data computing centers, research and development certification centers, evaluation centers, and regulatory platforms in Nansha that integrate key digital technologies such as blockchain and artificial intelligence with financial scenarios. Support Guangzhou Data Exchange to improve comprehensive data circulation and trading services, strengthen cooperation and docking with licensed digital asset trading platforms in Hong Kong, and innovate digital asset trading service methods.

According to BlockBeats, on May 12th, Placeholder partner Chris Burniske posted on social media, "Personally, my position in ETH is still at its highest level in history

Odaily Planet Daily News: South Korean right-wing political party presidential candidate Kim Won soo officially announced on Monday that he supports the adoption of spot cryptocurrency ETFs in South Korea as part of his campaign promise. Previously, left-wing Democratic candidate Lee Jae myung also promised to introduce spot cryptocurrency ETFs. The two major political party candidates have formed a cross party consensus aimed at promoting middle-class wealth accumulation and providing more opportunities for the younger generation. The Chairman of the Financial Services Commission of Korea stated that they will discuss implementation plans with the new government. The success of US spot cryptocurrency ETFs (with a net inflow of over $43 billion) has become a key factor driving South Korea to re-examine such products. The South Korean presidential election is scheduled to be held on June 3, 2025. （The Block）

BlockBeats news, on May 12th, according to CoinDesk, Citigroup predicts that as regulatory incentives promote the integration of fixed value tokens into the mainstream economy, the stablecoin market may soon surpass the entire crypto trading ecosystem that nurtured it. Stablecoins are not just the role of "tokenized cash" in the cryptocurrency trading community. These digital tokens, mainly pegged to the US dollar, have begun to expand into fields such as payments and remittances. A recent report released by Citigroup's Future Financial Think Tank suggests that stablecoins may replace some overseas and domestic currency reserves in the United States within the next five years, while also becoming a part of short-term liquidity for banks. The report also suggests that if profitable stablecoins can be launched, they are expected to play a role in fixed deposits and retail money market funds.

The price of Binance BONK/USDT has reached a new high in nearly three months, now trading at $0.0000256, up 15.40% in 24 hours, with a turnover of $113 million. After reaching a new high in price, there is a high probability of a price correction. (AiCoin Research Institute)