Overview of Key Developments Overnight on May 1

21:00 (UTC+8) - 7:00 (UTC+8) Keywords: Musk, Arbitrum, OpenAI1. Musk: Most cryptocurrencies are scams;2. Trump: Doesn't care whether Powell remains as governor;3. The advancement of the US crypto market structure bill is imminent, ethical controversy becomes key;4. The US Senate passes regulations to restrict senators from participating in prediction market trading;5. US officials say the cost of the Iran conflict could reach $50 billion, twice the amount officially disclosed;6. Arbitrum DAO launches a vote, proposing to release 30,766 ETH for remediation after the Kelp attack;7. OpenAI's $500 billion Stargate project is being adjusted, with some initiatives even abandoned.