Farcaster integrates HyperEVM to support cross-chain balance direct sending and exchange
Farcaster, a decentralized social media protocol, announced that its wallet and mini-program now support HyperEVM launched by Hyperliquid. Users can directly use the balances on other chains to send and redeem tokens on HyperEVM without the need for cross-chain bridging operations, further simplifying the multi-chain asset interaction experience.
Abraxas Capital Withdraws 13,771 ETH from Binance in the Past 12 Hours
According to Lookonchain monitoring data, crypto investment institution Abraxas Capital withdrew 13,771 ETH from Binance in the past 12 hours, worth approximately US$36.4 million.
Base appoints leaders in seven countries to accelerate global ecosystem expansion
According to The Block, Base, the Ethereum second-layer network developed by Coinbase, announced the hiring of seven new "country heads" covering Argentina, Brazil, Central America, the United Kingdom, Europe, Singapore, South Korea and West Africa to promote the development of local on-chain ecosystems and user community building. Base is also continuing to recruit in Germany, Indonesia, Mexico, Turkey and the UAE. Base's goals this year include promoting $100 billion in on-chain assets, attracting 25,000 developers and 25 million users. Q1 transaction volume increased by 16% month-on-month, and TVL exceeded $5 billion.
YZi Labs announced that it has invested in OneKey, an open source hardware wallet company, to strengthen the security of global crypto assets and inclusive self-custody. Founded in 2019, OneKey has grown rapidly in China, Japan, South Korea, Europe and other places, with an average annual growth of 300% in hardware wallet sales. The new funds will be used to develop a new generation of hardware, enhance on-chain threat detection, expand compliance business in the United States, Europe and emerging markets, and strengthen its "Anzen Lab" security testing capabilities. OneKey's recently launched USDC income module attracted over $62 million in subscriptions.
According to Decrypt, the California House of Representatives passed AB-1052 with 78 votes in favor and 0 votes against, proposing to treat crypto assets with no operation records within three years as unclaimed property and to be managed by the state government. The bill clearly states that the assets will not be liquidated and will still be kept by a third party in encrypted form, and users can claim them at any time. Supporters say that this mechanism is similar to traditional unclaimed property laws and is intended to protect the security of user assets; critics worry that it violates the privacy and self-custody spirit of Bitcoin. The draft bill will now be submitted to the California Senate and may be further revised.
Coinbase Lists Lagrange (LA) with an “Experimental” Label
According to Coinbase Assets, Coinbase will launch the Lagrange (LA) token based on the Ethereum network. LA trading will be launched after liquidity conditions are met, and the LA-USD trading pair will be opened in stages. Lagrange (LA) is now available on the Coinbase official website and its iOS and Android apps with an "experimental" label. Users can log in to the platform to buy, sell, exchange, transfer, receive and store.
U.S. Senate confirms Michelle Bowman as Fed vice chair for supervision
The U.S. Senate approved the appointment by 48 votes to 46, confirming Federal Reserve Board Governor Michelle Bowman as Vice Chairman of Supervision for a four-year term, officially replacing Michael Barr as the Federal Reserve's top regulatory official.
PancakeSwap (CAKE) is included in Coinbase’s listing roadmap
According to Coinbase Assets, PancakeSwap (CAKE) has been added to the Coinbase coin listing roadmap. Coinbase said that the asset must meet market making support and technical foundation conditions before it can be officially listed for trading, and the specific launch time will be announced separately.
U.S. Treasury Department: Discussed work on digital asset markets
The U.S. Treasury Department said that U.S. Treasury Secretary Bessant held an executive meeting of the Financial Stability Oversight Council today. During the meeting, the committee received a briefing from Treasury staff on the work of the President's Digital Asset Markets Working Group. The Chairman of the U.S. Securities and Exchange Commission and the Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC) also provided updates on the recent actions of their respective agencies. The speakers discussed the ongoing efforts to promote U.S. leadership in digital assets and financial technology and to provide greater regulatory clarity and certainty for digital asset markets.
According to the official blog of Ethereum Foundation, the foundation released the latest treasury management policy document, setting annual operating expenses at 15% of total assets and an operating buffer period of 2.5 years, emphasizing that 2025-26 is a critical period and will more actively support the ecosystem. EF will optimize asset allocation through ETH sales and DeFi deployment, enhance transparency and publish quarterly and annual reports. At the same time, the policy highlights the "Defipunk" framework, promotes the development of privacy, trustlessness, self-custody and decentralized UI, in order to defend the fundamental value of decentralized finance.
Trump: Debt ceiling should be completely lifted to avoid economic disaster
U.S. President Trump posted on social media: "I am very pleased to announce that after so many years, I have finally reached a consensus with U.S. Democratic Senator Warren on something: the debt ceiling should be completely abolished to avoid an economic disaster. It is too dangerous to leave it in the hands of politicians - even if this may have a terrible impact on our country (and even indirectly on the world), there are still politicians who want to use the debt ceiling for political gain. As for Senator Warren’s second statement on $4 trillion, I also like it, but it must be done in the shortest possible time. Let us work together with the Republicans and Democrats to get this done!"
Circle prices IPO at $31 per share, raising $1.1 billion at a valuation of $6.2 billion
According to CoinDesk, stablecoin issuer Circle completed its IPO on the New York Stock Exchange at $31 per share, exceeding the original expected pricing range ($24-26), raising $1.1 billion and valuing $6.2 billion. The stock code is "CRCL" and will start trading on Thursday. The IPO was originally planned to issue 24 million shares, but it was expanded to more than 34 million shares due to surging demand. Circle issues USDC, the second largest stablecoin in the United States, and its listing comes at a time when U.S. lawmakers are pushing for a stablecoin regulatory bill.
Coinbase Assets announced on X that it will add support for Ethena (ENA) on the Ethereum network. If liquidity conditions are met, trading will begin on or after 00:00 on June 6, 2025 (GMT+8). Once the asset is in sufficient supply, the ENA-USD trading pair will be launched in phases. Support for ENA may be limited in some supported jurisdictions.
Coinbase International will launch Sophon perpetual contract
Coinbase International Station X Platform announced that Coinbase International Exchange and Coinbase Advanced Platform will add support for Sophon Perpetual Contract (SOPH-PERP). The SOPH-PERP market will begin trading on or after 17:30 on June 5, 2025, Beijing time.
JPMorgan plans to provide clients with financing services for cryptocurrency ETFs
According to Jinshi.com, JPMorgan Chase plans to provide clients with financing services for cryptocurrency ETFs.
According to Bitcoin News, European listed company The Blockchain Group will hold its annual general meeting on June 10, 2025, seeking shareholder approval to raise 10 billion euros to accelerate its Bitcoin financial strategy.
BlackRock BUIDL Fund paid dividends of over $10 million in May, setting a new monthly record
According to Bitcoin.com, BlackRock's tokenized money market fund BUIDL announced a dividend of more than $10 million in May, setting a record high for a single month. Since its launch, the fund has paid a total of $43.4 million in dividends, and currently manages $2.91 billion, maintaining its position as the world's largest tokenized money fund. BUIDL was launched by BlackRock in cooperation with Securitize. Investment targets include U.S. Treasuries, cash and repurchase agreements, and tokens are issued through seven blockchains including Ethereum and Solana. In the dividends in May, the Ethereum network accounted for 93.7% (about $9.37 million), and the remaining chains accounted for a total of 6.3%. The fund is only open to qualified investors, with a minimum investment threshold of $5 million for individuals and $25 million for institutions. Assets are managed by institutions such as BNY Mellon.
Binance Alpha adds POKT and CA
The official page shows that Binance Alpha has added POKT and CA tokens.
Publicly listed company Treasure Global launches $100 million digital asset financial strategy
According to GlobeNewswire, Treasure Global Inc. (NASDAQ: TGL), a Nasdaq-listed company and e-commerce platform operator, announced the launch of a $100 million digital asset fund pool to strengthen its digital infrastructure and support the launch of an AI consumer intelligence platform. The funds for this program consist of two parts: $50 million from existing equity financing agreements and another $50 million from new investments from strategic institutional investors. The funds will be used in phases to allocate blockchain native assets such as Bitcoin, Ethereum and regulated stablecoins, aiming to improve capital efficiency and lay the foundation for future tokenization, loyalty programs and blockchain settlement systems.
Market news: Circle IPO pricing may be higher than the market pricing range, and its IPO was oversubscribed by more than 25 times. Crypto exchage Rails completed $14 million in financing, with Kraken and others participating.
According to Decrypt, Rails, a crypto exchage startup invested by Kraken, announced the completion of a $14 million financing, with participation from Kraken, CMCC Global, Slow Ventures, Round13 Capital and Quantstamp, bringing its total financing to $20 million. The company's hybrid trading platform combines the execution speed of centralized exchanges with the asset control of on-chain custody. Rails was founded by the crypto wallet BlockEQ team, which was acquired by Canadian exchange Coinsquare in 2018. The platform will be exclusively deployed on the Ink Layer2 blockchain developed by Kraken.
According to PR Newswire, Nasdaq-listed company and holographic technology service provider MicroCloud Hologram Inc. announced that it has purchased up to $200 million in Bitcoin and cryptocurrency-related securities derivatives. As of June 3, the cumulative investment income has reached $19.08 million. HOLO currently holds $303 million in cash reserves. The company plans to use the $303 million reserve for derivatives and technology research and development in cutting-edge fields such as Bitcoin-related blockchain, quantum computing, quantum holography, and AI augmented reality.
According to Businessinsider, K Wave Media Inc. (NASDAQ: KWM), the first Korean media alliance on Nasdaq, announced today that it has reached a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC, through which the company will issue $500 million in common stock. The proceeds from this financing will be used to support the company's digital asset reserve strategy, working capital and mergers and acquisitions activities centered on Bitcoin, and to further expand its content production and K-POP-related businesses. According to this strategic framework, K Wave will use most of the proceeds from the financing for the long-term holding and yield optimization of Bitcoin under certain restrictions - making it one of the first listed media companies in the world to directly incorporate BTC into core fund management.
Semler Scientific, a listed company, spent $20 million to increase its holdings of 185 BTC
Eric Semler, founder of Semler Scientific, a US-listed company, said on the X platform that the company has spent $20 million to increase its holdings of 185 BTC, with a BTC yield of 26.7% year-to-date. It currently holds 4,449 BTC.
U.S. ADP employment in May recorded 37,000, the smallest increase since March 2023
According to Jinshi, the number of ADP jobs in the United States in May was 37,000, the smallest increase since March 2023, and the market expected it to be 110,000.
Binance launches Altcoin-only spot liquidity program, targeting small market makers
According to The Block, Binance announced the launch of its first spot liquidity program for Altcoin only, aiming to meet the market's demand for greater diversity. The new "Altcoin Liquidity Enhancement Program" aims to provide the most attractive Altcoin market-making rebates in the industry to attract small and medium-sized liquidity providers who want to focus on Altcoin market making to supplement the exchange's existing liquidity programs. According to the details of the plan, market makers only need to focus on Altcoin trading pairs to participate, and are no longer required to participate in the market making of mainstream currencies such as Bitcoin. The plan sets two rebate levels: market makers with a market share of 0.5% of the trading volume in the month can receive a rebate of 0.005%, and those with a market share of 1% can receive a rebate of 0.01%. The first batch of supported trading pairs include INIT/USDT, EOS/USDT, HYPER/USDT, PARTI/USDT, ICP/USDT, KERNEL/USDT, CFX/USDT, W/USDT, KMNO/USDT, IOTX/USDT, ONDO/USDT, TON/USDT, FIL/USDT, WCT/USDT, BABY/USDT, SXT/USDT, SYRUP/USDT and STO/USDT. Catherine Chen, head of Binance VIP and institutional business, said that existing liquidity programs tend to favor large market makers, and the new program will help small and medium-sized market makers gain a competitive advantage in the Altcoin market. Applicants must meet the threshold of more than $20 million in trading volume in the past 30 days and demonstrate a high-quality liquidity provision strategy. The qualification review for the program will begin on June 9, and the rebate distribution will officially start on June 17.
Russia’s Moscow Exchange Launches Bitcoin Futures Trading for Qualified Investors
According to TASS, the Moscow Exchange officially launched Bitcoin futures trading on June 4, 2025. The product is only open to qualified investors. The IBIT futures contracts launched this time are quoted in US dollars and settled in rubles. The first batch of contracts will expire in September 2025. The futures product is based on the value of the Bitcoin Trust ETF, with a transaction unit of US dollars per lot and ultimately settled in rubles. In May, the Central Bank of Russia approved financial institutions to provide qualified investors with financial derivatives linked to the value of cryptocurrencies, but still recommended avoiding direct investment in cryptocurrencies.
Binance Futures to Launch 1,000,000 BOBUSDT Perpetual Contract
According to the official announcement, Binance Futures will launch a 1,000,000 BOBUSDT perpetual contract at 16:30 (ET8) on June 5, 2025, with a maximum leverage of 50 times.
CUDIS: Airdrop claims will open tomorrow night, TGE circulation is 24.75% of the total supply
According to official news, Solana Ecosystem DePIN project CUDIS announced the token economics. The total supply of CUDIS tokens is 1 billion, and the TGE circulation is 24.75% of the total supply of tokens. 25% of the tokens will be allocated to the community to encourage the participation of users in multiple seasons, and the total allocation in the first season is 5%. The first season airdrop application will be opened at 20:00 on June 5th, Beijing time, and a total of 50 million CUDIS will be allocated to more than 60,000 active community users.
Binance: Holders of at least 215 Binance Alpha Points are eligible to claim the LA token airdrop
According to the official announcement, Binance will start listing Lagrange (LA) at 20:00 (UTC+8) on June 4, 2025. Eligible Binance users with at least 215 Binance Alpha Points can go to the Alpha event page to claim an airdrop of 160 LA tokens when trading opens. Please note that claiming the airdrop will consume 15 Binance Alpha Points. Users need to complete the claim within 24 hours after the claim is opened, otherwise it will be deemed to have given up the airdrop.
Hong Kong Treasury Bureau to issue second policy statement on the development of virtual assets
According to AASTOCKS, Hong Kong Financial Services and the Treasury Secretary Paul Hui said that in response to the latest developments in the virtual asset market, the Treasury will issue a second policy statement on the development of virtual assets, outlining the next policy vision and direction. The policy statement will explore how to combine the advantages of traditional financial services with technological innovation in the field of virtual assets, and improve the security and flexibility of real economic activities. It will also encourage local and international companies to explore the innovation and application of virtual asset technology. In addition, he pointed out that the Securities and Futures Commission is considering introducing virtual asset derivatives trading for professional investors, emphasizing that it will formulate robust risk management measures, which are expected to further enrich the product options in the Hong Kong market while ensuring that transactions are conducted in an orderly, transparent and secure manner. In terms of assisting fintech companies to expand their business, he pointed out that Invest Hong Kong is actively working with industry stakeholders to promote in the Guangdong-Hong Kong-Macao Greater Bay Area to assist Hong Kong fintech companies to further expand into the mainland market.
Binance Wallet Exclusive TGE 21st Phase Launches CUDIS (CUDIS)
According to the official announcement, Binance Wallet's exclusive TGE 21st phase launched CUDIS (CUDIS). Subscription time: June 5, 2025, 4:00 pm to 6:00 pm (UTC+8). Subscription qualifications: Eligible users must use Binance Alpha Points to participate. An additional 30,000,000 CUDIS will be used for future activities, and specific details will be announced separately.
ASX-listed Locate Technologies adds Bitcoin to its balance sheet
According to Forbes, delivery startup Locate Technologies announced the completion of A$1.45 million in financing and became the first ASX-listed company to allocate Bitcoin on its balance sheet. The company said it would allocate cash in excess of working capital needs into Bitcoin in order to establish a long-term strategic position. The company's CEO Steve Orenstein said the move would strengthen the balance sheet and provide support for future mergers and acquisitions, while acknowledging that some shareholders may be cautious.
Research: Nearly 45% of VC-backed crypto projects have shut down
According to Bitcoin.com, a joint study by Chainplay and Strorible showed that among the 1,181 crypto projects that received venture capital between January 1, 2023 and December 31, 2024, nearly 45% have ceased operations, and 77% have a monthly income of less than $1,000. In terms of venture capital institutions, Polychain Capital has the highest investment failure rate, with 44% of its investment projects terminated and 76% of its projects not generating effective income; Yzi Labs (formerly Binance Labs) has a 72% failure rate in supported projects; top venture capital companies such as Circle, Delphi Ventures, Consensys, and Andreessen Horowitz have also seen a large number of supported projects cease operations, with more than two-thirds of projects failing. Among angel investors, former Coinbase CTO Balaji Srinivasan has the highest proportion of "zombie projects" at 57%; Arthur Hayes is 34%, Santiago Santos is 15%, and Sandeep Nailwal and Stani Kulechov each have 10% of their supported projects ceased operations. Data shows that the scale of fundraising is significantly correlated with the success rate. The failure rate of projects with financing of more than US$50 million is significantly lower, while among projects with financing of less than US$5 million, 33% have failed and 20% have ceased operations.
Binance Alpha to List fly.trade (FLY)
According to the official announcement, Binance Alpha will launch fly.trade (FLY). The trading opening date is June 6, and the specific time will be announced later. Eligible users need to use Binance Alpha points to claim the airdrop on the Alpha event page. The event page and details will be launched on June 6.
Crypto credit startup 3Jane raises $5.2 million in seed funding, led by Paradigm
According to The Block, crypto venture capital firm Paradigm led a $5.2 million seed round for crypto credit startup 3Jane, which also ended its stealth operations. 3Jane plans to build the first credit-based money market protocol, focusing on bringing unsecured credit to the digital asset space. The 3Jane protocol is described as a "peer-to-pool credit money market" that provides unsecured USDC credit services in real time through algorithms for yield liquidity providers, traders, businesses, and AI agents. On the technical level, 3Jane uses zkTLS technology to privately extract off-chain credit data. The project plans to launch the mainnet in the third quarter of 2025, focusing on the US market in the early stages.
