Foresight News takes you through this week's hot topics and recommended content:
01 Musk and Trump Clash Remotely
《Bitcoin Plummets Overnight, Is the Market Paying the Price for Trump and Musk's Dispute?》
《Midnight Raid: Is the Trump Family Launching a Crypto Wallet?》
02 EF Internal Reforms
《Defipunk Era Begins? A Quick Read of Ethereum Foundation's Treasury Policy》
《Is Ethereum About to Take Off? Four Factors May Boost Coin Price》
《a16z: The End of the Crypto Foundation Era》
03 InfoFi Sector
《Kaito Founder: Following the InfoFi Trend, Building a Fair Value Network》
04 Industry Insights
《a16z Partner: What Entrepreneurial Opportunities Does Stablecoin Mainstreaming Bring?》
《In the Era of Narrative Supremacy, How to Find the Next 100x Narrative Using a Scoring Model?》
《What Crypto and AI Election Promises Does South Korea's New President Lee Jae-myung Have?》
《Coin Metrics: How Do WBTC and cbBTC Expand Bitcoin's Utility?》
01 Musk and Trump Clash Remotely
On June 4th, Musk rarely publicly criticized on his social platform X, calling a core bill pushed by the Trump administration a "disgusting deformed product". Subsequently, Musk even reposted and commented "Yes" on a discussion tweet about "Trump should be impeached and replaced by JD Vance". Trump was not to be outdone, responding on his personal social platform. The richest and most powerful people on Earth clashing remotely caused volatility in US stocks and the crypto market. Recommended article:
《Bitcoin Plummets Overnight, Is the Market Paying the Price for Trump and Musk's Dispute?》
The crypto market fluctuated, around 8 PM on June 5th, BTC nearly approached $106,000 but failed to break through and continued to fall. Around 4 AM on June 6th, BTC briefly dropped to $100,372, almost breaking the $100,000 mark, and has since recovered to around $102,000. ETH failed to break through $2,800 and fell throughout the previous evening, dropping to as low as $2,381, with a 24-hour decline of over 7%, and Altcoins generally declined.
According to Coinglass, in the past 24 hours, $983 million was liquidated network-wide, with $892 million in long positions liquidated. The largest single liquidation occurred on Bitmex - XBTUSD, valued at $10 million.
At market close, the Dow Jones Industrial Average fell 108.00 points to 42,319.74, a 0.25% decline; the S&P 500 dropped 31.51 points to 5,939.30, a 0.53% decline; the Nasdaq fell 162.04 points to 19,298.45, an 0.83% decline. Tesla plummeted over 14% due to the Musk-Trump conflict, creating its largest single-day drop in history.
The Trump family has always been quick to turn against each other. At 00:42 on June 4th, a bombshell news broke in the crypto circle. According to the well-known financial account Walter Bloomberg, Trump will launch his branded crypto wallet and trading app, encouraging his supporters to buy meme coins and other crypto assets. Recommended article:
《Midnight Raid: Is the Trump Family Launching a Crypto Wallet?》
As soon as the tweet was posted, Magic Eden's native token ME rose by 40%. Within half an hour, Trumpwallet registration exceeded 25,000, and by morning, over 80,000 had registered.
According to crypto KOLs, the wallet is currently in the registration phase with no actual application. Its viral growth mainly relies on invitations. Registering for Trumpwallet requires email and phone number, Gmail verification codes are not received, but unexpectedly, emails from mainland China meet the requirements.
It's time for the crypto industry to move away from the foundation model. As non-profit organizations supporting blockchain network development, foundations were once a clever legal path to drive industry progress. But now, any founder who has launched a crypto network will tell you: nothing holds back progress more than a foundation. The friction brought by foundations far exceeds their decentralization value.
With the emergence of a new regulatory framework in the US Congress, the crypto industry has a rare opportunity: to bid farewell to foundations and build a new system with better incentive mechanisms, accountability, and scalability.
After discussing the origins and flaws of foundations, this article will explain how crypto projects can abandon the foundation structure and embrace ordinary development companies, leveraging emerging regulatory frameworks for growth. I will explain step by step that companies are better at capital allocation, attracting top talent, responding to market forces, and are a more optimal carrier for promoting structural incentive compatibility, growth, and impact.
An industry trying to challenge big tech companies, big banks, and big government cannot rely on altruism, charitable funding, or vague missions. Industry-wide development requires incentive mechanisms. If the crypto industry wants to fulfill its promises, it must shed its no longer applicable structural crutches.
03 InfoFi Section
In the era of attention economy, let's delve into the InfoFi track, understand its real value and representative project Kaito. Recommended article:
《Kaito Founder: Following the InfoFi Trend, Building a Fair Value Network》
In contemporary consumer products, distribution is often deeply tied to attention - manifested as user screen time or market share of voice.
The core value of attention far exceeds the crypto industry's scope. Too many cases show that a high-quality product might have lower actual penetration rates compared to mediocre products due to distribution limitations.
In the crypto field, even top products can accelerate growth with attention - as evidenced by Hyperliquid's explosive market share growth since TGE.[Rest of the text translated similarly, maintaining the specified translations for specific terms]
