Headlines
▌US Appeals Court Allows Trump Tariffs to Temporarily Remain in Effect
On Thursday local time, a federal appeals court suspended a ruling by a group of judges that would have forced the suspension of several tariffs imposed by Trump on international trading partners. The US Federal Circuit Court of Appeals stated in a brief ruling: "The judgments and permanent injunctions made by the International Trade Court in these cases will be temporarily suspended until further notice, while the court considers whether the execution of the ruling should be suspended for a longer period." This decision delays the lower court's ruling until at least June 9, when both parties will submit legal arguments about whether the case should be suspended, and the appeals court will weigh the issues in the case. The judges of the US International Trade Court had determined in yesterday's ruling that the International Emergency Economic Powers Act cited in Trump's multiple executive orders did not "grant the president unlimited tariff powers".
▌Powell Meets with Trump to Discuss Economic Development
According to an official Federal Reserve announcement, Fed Chair Powell met with Trump at the White House today at the US President's invitation to discuss economic development issues, including economic growth, employment, and inflation. Powell did not make specific expectations about monetary policy prospects, only emphasizing that the policy path will entirely depend on future economic data and its impact on economic prospects. Finally, Powell stated that he and his colleagues at the Federal Open Market Committee (FOMC) will formulate monetary policy in accordance with the law to support maximum employment and price stability, with all decisions based on prudent, objective analysis free from political influence.
Market
As of the time of writing, according to CoinGecko data:
BTC price is $105,734, 24-hour change -1.9%;
ETH price is $2,633.45, 24-hour change -1.6%;
BNB price is $675.15, 24-hour change -1.8%;
SOL price is $166.84, 24-hour change -3.4%;
Doge price is $0.2158, 24-hour change -3.4%;
XRP price is $2.25, 24-hour change -1.0%.
Policy
▌US SEC Clarifies Three Types of Staking Activities Do Not Constitute Securities Issuance and Sale
The Corporate Finance Division of the US Securities and Exchange Commission (SEC) stated on May 29 that "staking activities" in PoS networks do not involve securities issuance and sale under Section 2(a)(1) of the 1933 Securities Act or Section 3(a)(10) of the 1934 Securities Exchange Act. Individuals and entities participating in such activities do not need to register with the SEC for these transactions or apply registration exemption clauses. The statement covers three forms of staking agreements: (1) "self-staking" where node operators stake their own crypto assets; (2) "self-custodial staking" where asset holders stake through third-party node operators; (3) "custodial arrangements" where custodial institutions lend and stake crypto assets on behalf of clients. The statement emphasizes that "staking rewards are service compensation provided by PoS networks to validators according to their underlying protocols, rather than profits derived from others' entrepreneurial or management efforts".
▌US House Republicans Introduce 'Digital Asset Market Clarity Act' to Establish CFTC Regulatory Primacy
US House Republicans have formally proposed their latest digital asset market regulation bill, the Clarity Act, aimed at "establishing a regulatory structure for the digital asset market, which has been the industry's call for many years". The bill is seen as a successor to the previous Financial Innovation and Technology Act and is being pushed by Republican leadership from the House Financial Services and Agriculture Committees. Dusty Johnson, a Republican from South Dakota and chairman of the agricultural subcommittee, stated: "The US should be the global leader in digital asset markets, but to do this, we must establish a clear regulatory framework." The bill grants the Commodity Futures Trading Commission (CFTC) "exclusive regulatory jurisdiction" over digital commodity spot markets and establishes a system where crypto platforms can register with the CFTC or SEC based on the nature of their digital commodity or securities trading. The bill also includes: requiring crypto platforms to be regulated under the Bank Secrecy Act; exempting some DeFi operations and wallet providers from SEC regulation; prohibiting future regulatory attempts to require custodial companies to record customer assets on their own balance sheets; and delegating part of the stablecoin transaction regulatory authority to existing relevant regulatory agencies. Additionally, the bill requires the CFTC to define standards for "qualified digital asset custodians" and mandates that the SEC, CFTC, and Treasury submit a report on DeFi within a year. If passed, all regulatory rules will take effect within a year.
Blockchain Applications
▌Uniswap Foundation Provides $235,000 Grant to ChainHopper Cross-Chain LP Migration Protocol Development Team
The Uniswap Foundation announced a grant to the ChainHopper cross-chain LP migration protocol development team. The protocol will support one-click migration of Uniswap liquidity provider (LP) positions across different EVM chains and help migrate liquidity to Unichain and the upcoming Uniswap v4. Currently, users must go through multiple complex steps to transfer LP positions from one chain to another: removing liquidity, cross-chain bridging each token separately, waiting for confirmation, and then rebuilding the position on the target chain. To help users manage LP positions more efficiently, the Uniswap Foundation has provided Melio with a $235,000 grant to develop the ChainHopper protocol. The protocol is currently live on Ethereum mainnet, Unichain, Base, Arbitrum, and Optimism.
▌Tether CEO Says Company Holds Over 100,000 Bitcoins and Over 50 Tons of Gold
Tether CEO Paolo Ardoino displayed a slide at the Bitcoin 2025 conference, stating that the stablecoin issuer currently holds over 100,000 Bitcoins and over 50 tons of gold. Ardoino said, "Gold is not competing with Bitcoin, but competing with fiat currencies."
Cryptocurrency
▌Data: Whales Have Purchased Over 20,000 Bitcoins in Past 48 Hours
According to on-chain analyst @ali_charts, whales have purchased over 20,000 Bitcoins in the past 48 hours.
▌SOL Strategies Adds 26,478 SOL at Average Price of $177.5
"SOL version of MicroStrategy" SOL Strategies announced the acquisition of 26,478 SOL tokens for $4.7 million on May 26, with an average price of $177.5 per SOL.
Important Economic Developments
▌US Treasury Secretary Becent: Several Major Agreements About to be Reached
US Treasury Secretary Becent: The president has the right to set the US trade agenda. Trading partners are cooperating with us in good faith, and their attitude has not changed in the past 48 hours. Several major agreements are about to be reached. We are gaining substantial income from tariff revenues, and the federal budget deficit this year will be less than last year.
Jinse Encyclopedia
▌What are Ethereum Futures ETFs and How Do They Work?
Ethereum Futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself.
Consider a contract promising to purchase Ethereum at a specific price at a future time. These derivative contracts are traded through Ethereum (ETH) Futures Exchange Traded Funds (ETFs), providing a regulated method of investing in Ethereum using a brokerage account.
Disclaimer: Jinse Finance, as a blockchain information platform, provides article content for informational purposes only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to improve risk awareness.
