ChainCatcher news, according to Cointelegraph, the Maldives government signed an agreement on May 4 with the Dubai-based family office MBS Global Investments to jointly develop a large cryptocurrency and blockchain center in the capital city of Malé, with a planned investment of $9 billion.This move aims to attract foreign direct investment into the blockchain and Web3 technology sectors, helping the Maldives reduce its economic dependence on tourism and fishing, diversify its income, and alleviate national debt. The project plans to build a facility called the "Maldives International Financial Center," covering approximately 830,000 square meters, expected to take five years to complete and provide around 16,000 jobs.It is worth noting that the project's investment amount of up to $9 billion exceeds the Maldives' annual GDP of about $7 billion. At the same time, the Maldives' ambition to become a global fintech hub will face fierce competition from established international financial centers such as Dubai, Singapore, and Hong Kong.

ChainCatcher message, "If the U.S. government implements these higher tariffs without significant exemptions, the economy will have a hard time digesting this. A recession seems more likely to occur," said Mark Zandi, chief economist of Moody's Analytics. Zandi stated, "In many ways, the tariffs announced by Trump are even worse than the worst-case scenario he envisioned. If they stick to it, I would buckle up and prepare for the impact."

ChainCatcher news, according to crypto journalist Eleanor Terrett, U.S. Congressman Bryan Steil revealed at the blockchain summit that the stablecoin legislation STABLE Act is expected to be formally introduced in the U.S. House of Representatives today. The content shows that the draft of this bill is 80% similar to the GENIUS Act.

ChainCatcher message, Bitcoin Laws posted on social media revealing the details of the Bitcoin investment bill in North Carolina, namely House Bill 506, which will create a new independent North Carolina Investment Management Authority (NCIA) led by the state treasurer.The NCIA will have the authority to invest 5% of various funds within the state into digital assets.North Carolina's HB506 bill does not actually create a "Bitcoin reserve." However, in terms of tracking direct investments by the state government, it meets the requirements of the SBR (State Bitcoin Reserve) tracking list.

ChainCatcher news, GMX officially stated that security research institutions such as PeckShield and other blockchain security experts have discovered vulnerabilities in the funds pools (cauldrons) using GM tokens in Abracadabra/Spell that have been exploited.GMX has made it clear that the GMX smart contracts are unaffected and are operating normally; the issue is only related to the funds pools of Abracadabra/Spell. These funds pools allow users to use specific GM liquidity tokens as collateral for borrowing. Currently, Spell, the GMX team, and security researchers are investigating the cause of the issue.ChainCatcher previously reported that the blockchain security company PeckShield released the latest data, showing that the losses from the GMX and MIM Spell security vulnerability incident have increased to approximately 6260 ETH, equivalent to about 13 million USD at current market prices.

ChainCatcher news, according to Bloomberg, the CEO of the Pakistan Crypto Council, Bilal bin Saqib, stated in an interview that the country aims to establish a clear regulatory framework to manage digital asset activities to promote the development of the local ecosystem.Saqib said, "Pakistan will no longer stand by; we want to attract international investment because Pakistan is a low-cost, high-growth market, with 60% of the population under 30 years old. We have a local workforce ready to build Web3." Saqib pointed out that he hopes to make Pakistan the cryptocurrency capital of South Asia, competing with Dubai, Singapore, and Hong Kong for leadership in the blockchain space.This legalization plan was proposed after Saqib was appointed as the chief advisor for digital asset management to the finance minister earlier this month. He will also provide advice on exploring the use of artificial intelligence to improve government efficiency, optimize decision-making processes, and drive innovation in public sector operations. Saqib said, "Trump is making cryptocurrency a national priority, and every country, including Pakistan, will have to follow suit."According to Chainalysis data, Pakistan ranks ninth globally in cryptocurrency adoption rates. Saqib mentioned in the interview that there are approximately 15 to 20 million cryptocurrency users in Pakistan.

ChainCatcher news, according to PR Newswire, the CME Group announced today that it plans to launch Solana (SOL) futures on March 17, which will be cash-settled and based on the CME CF Solana Dollar Reference Rate, a daily reference rate for the SOL dollar price calculated at 4:00 PM London time. The trading unit for the micro contract is 25 SOL, and for the standard contract, it is 500 SOL.It is reported that the relevant listing is still pending regulatory review.

ChainCatcher news, according to Cointelegraph, OKX Ventures founder Jeff Ren stated that crypto startups need not only strong technical capabilities to secure venture capital but also the ability to "understand the market and adjust in a timely manner."Ren pointed out that OKX analyzes market trends and user needs through its wallet product, and when evaluating investment opportunities, the primary consideration is whether it can create value for the founding team through wallet infrastructure. Taking GameFi as an example, the OKX wallet can provide in-game asset purchases and on-chain liquidity support for game studios. Looking ahead, Ren particularly sees potential in projects that leverage AI to improve the DeFi trading experience.

ChainCatcher message, Slow Mist stated on platform X that the Safe contract is fine, but the issue lies in the non-contract part, where the front end has been tampered with and forged to achieve a deceptive effect. This is not an isolated case. North Korean hackers managed to compromise several companies last year, such as:WazirX 230M USDT Safe multi-signatureRadiant Capital 50M USDT Safe multi-signatureDMM 305M USDT Gonco multi-signatureThis type of attack method has matured in engineering. Other companies also need to pay more attention, as multi-signatures may have similar attack points beyond just Safe.

ChainCatcher message, The Block co-founder Mike Dudas stated on social media, "The whole point of your meme coins, entertainment, and speculative positions is to distract you from focusing on your core positions. Hold tight to your Bitcoin and Solana. Make a few small trades on the fringe positions to get a feel, but make sure you don't mess up your core positions."

ChainCatcher message, community monitoring has found that the Uniswap v4 contract is suspected to be online. Defillama data shows that the current TVL of the v4 contract is approximately 1 million USD. However, Uniswap officials have not yet announced the official launch of the Uniswap v4 contract.

ChainCatcher message, Act I: The AI Prophecy announced on X that it has reached a strategic cooperation with GNON.The cooperation includes:Act partners will be fully integrated into EchoChambers, receiving full support and assistance.EchoChambers will serve as a development sandbox and benchmarking tool for new funders and partners.$GNON will be integrated into the next $ACT project.

ChainCatcher news, according to Ledger Insights, the German Parliament (Bundestag) passed the Financial Market Digitalization Act (Finanzmarktdigitalisierungsgesetz of FinmadiG) this week. The parliament responded to industry demands to ensure legislation is in place before MiCAR fully comes into effect on December 30.FinmadiG not only pertains to cryptocurrencies and MiCAR but also affects other EU laws, such as DORA and the Funds Transfer Regulation. For MiCAR, it introduces the Cryptocurrency Market Regulation Act (KMAG), which replaces Germany's old cryptocurrency rules with MiCAR.Technically, MiCAR is a regulation, so local laws are not required. However, legislation must designate BaFin as the regulatory authority; otherwise, BaFin cannot issue licenses. This will allow EU companies with cryptocurrency licenses from other countries to operate in Germany, but German companies will not be able to operate in the EU.Additionally, MiCAR allows companies holding existing licenses to continue operating for up to 18 months, with the transition period determined by each jurisdiction. The new German legislation specifies one year.

ChainCatcher news, according to financefeeds, the decentralized derivatives protocol Perennial has announced the launch of Perennial Intents, an innovative perpetual contract intent layer solution designed to unify the fragmented liquidity landscape of DeFi.Perennial founder Kevin Britz stated that currently only a small portion of cryptocurrency trading volume occurs on-chain, and it is dispersed across hundreds of L1 and L2 networks. Perennial Intents provides deeper market depth and better price execution by integrating liquidity from both on-chain and off-chain trading venues.It is reported that the protocol combines a hybrid model of off-chain order matching and on-chain AMM settlement, while also launching a one-click trading feature and the Perennial Petals rewards program, which offers double points during the initial launch period. Currently, Perennial has completed integrations with major trading platforms such as Kwenta, Siren, Rage Trade, and Cryptex Finance.

ChainCatcher news, according to Hong Wang reports, the People's Court of Jiahe County, Hunan Province recently made a ruling on a major dispute over a mining machine transaction. The case shows that the plaintiff, Pan Mouxiang, communicated with the defendant, Lei Moucai, via WeChat in November 2021 to purchase Bitcoin mining machines S19XP. After paying 23.678 million USDT, the two parties had a disagreement over the nature of the contract and the settlement price. The plaintiff requested the defendant to return the price difference of 6.27 million USDT and continue to deliver 149 mining machines.The court ruled to dismiss all of the plaintiff's claims based on two main reasons: first, according to the central bank and other departments' "Notice on Further Preventing and Dealing with Risks of Virtual Currency Trading and Speculation," USDT and other virtual currencies do not have the status of legal tender, and related transactions are considered illegal financial activities.Secondly, based on the National Development and Reform Commission's "Notice on Rectifying Virtual Currency 'Mining' Activities," the energy consumption of mining activities is high, carbon emissions are significant, and economic contributions are low, which does not align with the national green development strategy. The court determined that the transaction contract was invalid due to violations of laws and regulations as well as public order and good customs, and the related losses would be borne by both parties.

According to ChainCatcher news, HashKey Global has now launched Act I The AI Prophecy (ACT) and Peanut the Squirrel (PNUT) U-based perpetual contracts, offering 24/7 trading. The settlement currency is USDT, with a contract value of 10, a minimum price fluctuation of 0.00001, a maximum leverage of 10x, and a funding fee cap of ±0.75%, with funding fees settled every 8 hours.