May 7th Midday Update

1. The People's Bank of China announces interest rate and reserve requirement cuts;

2. The U.S. Senate investigates Trump's cryptocurrency activities;

3. Japanese listed company Metaplanet increases its holdings by 555 Bitcoins;

4. Bitwise has submitted a listing application for a spot NEAR ETF to the U.S. SEC;

5. A U.S. senator proposes the MEME Act to prohibit the president and members of Congress from issuing Meme coins;

6. Digital asset infrastructure platform Fuze completes $12.2 million Series A financing, led by Galaxy;

7. Sources: Futu Securities is in internal testing for a token recharge feature, which may initially support stablecoin deposits.