1. Singapore Financial Authority's "DTSP Licensing Guidelines" (Full Text)

On May 30, 2025, the Singapore Financial Authority issued the "Guidelines on Licensing for Digital Token Service Providers", officially licensing and regulating DTSP.Click to Read

2.Grayscale: The Great Beautiful Act and Crypto Vault Companies are Generating Bitcoin Demand

As the US and China reached a temporary truce in tariff conflicts, the stock market rebounded in May. However, this rise occurred after three consecutive months of decline, with the S&P 500 index still about 4% lower than its peak. Compared to the relatively healthy stock market, the bond market (especially high-quality sectors) showed negative returns, seemingly due to high government deficits and corresponding long-term government bond issuances. According to the market-cap-weighted FTSE Grayscale Crypto Sector Index, Bitcoin and the entire crypto asset class have risk-adjusted returns comparable to global stocks (Figure 1). Bitcoin rose 11% this month, reaching a historic high of $112,000; the Ethereum blockchain's native Token ETH rose 44%, partially recovering its previous underperformance compared to Bitcoin.Click to Read

3. a16z: It's Time for the Crypto Industry to Move Beyond the Foundation Model

The crypto industry is ready to move beyond its foundation model. Foundations—non-profit organizations supporting blockchain network development—were once a wise and legitimate path to progress. But now, ask any blockchain network founder, and they'll tell you: nothing slows you down more than a foundation. Today, the friction caused by foundations is greater than decentralization itself.Click to Read

4. Can the US Judiciary Stop Trump's Tariffs?

Recently, US federal judges have been particularly active—because they've affected many people's livelihoods and interests, every one of Trump's executive orders now inevitably faces Judicial Review requests from different entities; and each Judicial Review request is accompanied to varying degrees by lengthy appeal processes and disputes, bringing enormous uncertainty to policy implementation.Click to Read

5. Ethereum Foundation Restructures Protocol R&D, New Team "Protocol" Overview

Ethereum is on the verge of a major breakthrough. The rapid development of zkEVM allows us to reconstruct Layer1 to simultaneously support scalability, verifiability, security, and censorship resistance. L2 is continuously strengthening to meet user needs and eager to double down on Ethereum as its trust root. In short, the world is ready for the world computer's arrival.Click to Read