DailyNews

PANews, May 2 news, according to CoinDesk, Tether CEO Paolo Ardoino revealed in an interview with CNBC that the company will launch a distinctive new product, which is likely to be a payment product. Tether's goal is to build a product that can be used by institutions, a product that can compete with PayPal's CashApp.

Strategy (formerly MicroStrategy) reported a loss of $4.23 billion in the first quarter, shifting towards Bitcoin. They launched the "42/42 plan" to raise $84 billion for purchasing Bitcoin, showing strong performance with a price-to-earnings ratio of only 2.13.

Google has upgraded its Wallet service for privacy, using ZKP technology for age verification, allowing users to confirm their age without sharing personal information. This feature is now live, with Bumble being one of the first partner companies.

PANews May 2 news, according to encryption analyst Ali Martinez's disclosure of data on platform X, whales have purchased over 900 million XRP in the past month.

PANews May 2 news, Bloomberg senior ETF analyst Eric Balchunas posted on the X platform stating that a new term "Suitcoiners" has emerged among Wall Street finance industry professionals. This term comes from "Real Suits" and is used to describe all ETF, government, and institutional buyers. Some are concerned that if Suitcoiners conspire, it could potentially threaten the structure of Bitcoin in the future, but he does not think this scenario will unfold, as there have been similar unrealized fears in stock voting. Nonetheless, this is indeed a kind of fear.

PANews, May 2 news, according to Onchain Lens monitoring, after 2.11 years of silence, a Whale sold 14.38 WBTC (1.39 million USD) and bought 758.25 ETH at an average price of 1836 USD.

Ethereal announces that USDe deposits have surpassed 1 billion USD, Season Zero is nearing its end, and the community has over 25,000 unique depositors. Hundreds of new users are joining each day, supporting high-performance Spot and perpetual trading, leveraging USDe for native yields. The private Testnet has been opened to selected users, with the public testnet, Mainnet, and Season One launching soon.

The unrealized profits of long-term holders of Bitcoin have reached a historic high, indicating an increased risk of profit-taking. Current market long positions are concentrated below $91,000, while short positions are limited, showing a lack of market momentum and potential downside risk. Glassnode points out that the price of Bitcoin needs to break through the 111-day SMA and STH cost basis to maintain an upward trend; otherwise, it may fall back into the Bear Market zone.

Bitcoin has shown strong performance in the sale of U.S. Treasury bonds, but it has not yet become a traditional safe-haven asset. Experts point out that Bitcoin is more of a risk-on asset, while gold is the defensive asset. Bitcoin may evolve towards becoming a store of value, but at this stage, it is still in the early phase, and its development trend is worth following closely.

The GDP of the United States in the first quarter of 2025 showed a negative growth, which may affect the dovish stance of the Federal Reserve's monetary policy, supporting Bitcoin. Bitcoin rose by 13%, outperforming the S&P 500 index, with demand driving the price rise.

Golden Finance reports that Block CEO Jack Dorsey stated that the company is manufacturing Bitcoin mining chips, Proto, in the United States to cope with rising tariffs and overseas manufacturing risks. The chip is scheduled to launch in 2025, featuring an open source code design that emphasizes flexibility and direct collaboration with U.S. suppliers. In addition, Block revealed that it achieved a gross profit of $2.29 billion in the first quarter, a year-on-year increase of 9%, with Cash App's gross profit rising 10% to $1.38 billion and Square growing 9% to $898 million.