BlockBeats will organize the key industry news content of the week (6.2-6.8) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
Musk and Trump clashed in the air, and the stock prices of Tesla and Trump Media and Technology Group fell sharply that day
On June 2, Musk said in an interview that he was frustrated with the trillion-dollar tax cut and spending plan currently being discussed by the Republican Party in Congress, and believed that the bill would undermine the work being done by the Government Efficiency Team. On the 5th, Mike Johnson, Speaker of the U.S. House of Representatives, said that Trump was dissatisfied with Musk's 180-degree turn and had called Musk but did not answer. On the 6th, Musk suddenly posted several articles to satirize and question Trump, saying that he would lose the election without him, and forwarded the tweet "Trump should be impeached." Trump said he was "very disappointed" with Musk. Musk then released a heavy release, saying that Trump appeared in Epstein's documents. Affected by this incident, Tesla's stock price fell by more than 14% that day, and its market value shrank by $153 billion, setting the largest single-day drop in market value in history. Musk's market value has shrunk by more than $19.5 billion as a result. In addition, the stock price of Trump Media and Technology Group fell by 7.82%. Related readings: "Musk turns against Trump, crypto friends and family split, a fire breaks out in Trump's backyard" , "Trump and Musk have a century-long quarrel, the president kills his favorite person first" , "Who will be the peacemaker between Trump and Musk?" , "In-depth review of the whole story of Trump and Musk's "love-hate relationship" , "Just after the "breakup", they started quarreling? Musk blasted Trump's "Beauty Act": disgusting"
USDC issuer Circle officially listed on the New York Stock Exchange, with a first-day trading volume of over $3.9 billion
On June 5, USDC issuer Circle officially went public on the New York Stock Exchange (NYSE). It completed its IPO at $31 per share, oversubscribed more than 25 times, raised $1.1 billion, and was valued at $6.2 billion. Circle's first-day increase was 168.48%, closing at $83.23, with a daily trading volume of 47.109 million shares, equivalent to approximately $3.941 billion. Its CEO Jeremy Allaire said, "Our mission is to enhance global economic growth through frictionless value exchange, which is an important milestone in the irreversible integration of the global economic system and the Internet." Arthur Hayes commented that there will be a crypto IPO boom in the next few years, and it will end with a sensational IPO similar to EOS. Note: USDC issued by Circle is the second largest US dollar stablecoin, and its listing comes at a time when US lawmakers are pushing for a stablecoin regulatory bill. Related reading: "From bearish to 25 times oversubscription, Circle IPO's big reversal" , "Founder of the "first stablecoin stock": How I went all in on stablecoins 7 years ago" , "Circle IPO made a crazy profit of 400%, why should I go all in $CRCL?" , "Circle IPO roadshow PPT: IDG and Accel are shareholders, with annual revenue of US$1.676 billion" , "Circle is about to go public, what targets can be speculated on?" , "Circle's strong listing and two circuit breakers, who are the beneficiaries behind it?"
Ethereum Foundation lays off staff due to R&D team restructuring
On June 3, the Ethereum Foundation announced that it would lay off some employees and reorganize its research and development team, renaming the department "Protocol" to focus on the core challenges of protocol design. The adjustment is intended to respond to the community's continued criticism of the foundation's management and strategic direction. Some voices warned that failure to solve key technical problems could threaten Ethereum's position as an industry technology leader. The foundation said that the reorganized Protocol team will work around three major priorities: expanding the scalability of Ethereum's underlying network, advancing blobspace expansion in data availability strategies, and improving user experience. The foundation mentioned in the announcement that "some members of the R&D team will no longer remain in office" and encouraged other teams to absorb these talents. The number of layoffs was not disclosed.
Lee Jae-myung officially elected as South Korean president
On June 3, according to a South Korean TV report on the 3rd, Lee Jae-myung, the candidate of the Democratic Party of Korea, was officially elected as the President of South Korea. Previously, Lee Jae-myung had promised to promote the approval of crypto spot ETFs and proposed the issuance of stablecoins based on the Korean won. Related reading: "South Korea's new president Lee Jae-myung wants to do three things in the crypto" , "Analysis: Four major changes that the crypto market may usher in after the South Korean presidential election" , "Will Upbit's regulatory penalties end? What are the campaign promises of South Korea's new president Lee Jae-myung"
Singapore’s financial regulator to ban unlicensed overseas cryptocurrency services
On June 2, Decrypt reported that from June 30, all overseas cryptocurrency companies providing services to Singaporean customers must obtain a license or close their business as the Monetary Authority of Singapore (MAS) is stepping up its efforts to combat financial crime risks. MAS confirmed that it will fully implement Section 137 of the Financial Services and Markets Act (FSM Act), which authorizes regulators to license digital token service providers (DTSPs) operating in Singapore. This provision also applies to companies that only provide services to overseas users but are incorporated in Singapore or employ Singaporean employees. Related reading: "When Singapore Begins to Drive Out Crypto People" , "Detailed Explanation of Singapore's New Crypto Regulations: Why Are They So Harsh? Who Will Be Driven Out? Will It Trigger a Massive Retreat?"
The U.S. M2 money supply has reached $21.86 trillion, a record high
On June 5, it was reported that the U.S. M2 money supply had reached $21.86 trillion, a record high. Analysts have previously said that the continued growth of the global M2 money supply may trigger a sharp rise in Bitcoin.
Meitu CEO responds to the company's "coin buying history": all positions were cleared for a profit of 570 million yuan, 80% of the profits have been distributed as dividends
On June 3, according to LatePost, Meitu CEO Wu Xinhong said, "Previously, the company's blind diversification strategy was mostly led by him, not Cai Wensheng. I don't want to comment on Meitu's purchase of cryptocurrencies because it has become a thing of the past. Judging from the results, it is indeed a good return on investment. At the end of last year, Meitu sold all its cryptocurrencies and earned 570 million yuan, and 80% of the profit was distributed as dividends to shareholders." He also said that if he could travel back in time, he might be more willing to use the money to find some good teams for business collaboration. Because "sometimes, the performance has obviously improved significantly, but when Bitcoin plummets, the stock price immediately falls, but when Bitcoin rises, the stock price does not rise."
Robinhood Completes Acquisition of Bitstamp for $200 Million
On June 3, Robinhood completed the acquisition of Luxembourg crypto trading platform Bitstamp for $200 million in cash, adding more than 50 licenses and registrations to its cryptocurrency division, as well as a mature institutional client base. Bitstamp serves more than 5,000 institutional clients and 50,000 retail clients, and its trading volume is mainly driven by institutional clients. Robinhood said in a statement that the acquisition significantly expanded its cryptocurrency business in Europe, the United Kingdom and Asia outside the United States.
Magic Eden officially announced that it would cooperate with Trump Meme to develop a wallet, but was denied by a member of the Trump family
On June 4, the official website of TRUMP Wallet showed that Magic Eden will cooperate with TRUMP Meme to jointly develop the TRUMP encrypted wallet. Affected by this news, ME rose by more than 29% in 24 hours. Subsequently, Trump's eldest son, WLFI co-founder Donald Trump Jr., Trump's second son Eric Trump, and his youngest son Byron Trump all issued articles to refute the rumors, saying that the newly launched TRUMP wallet in the market has nothing to do with the Trump Group, and WLFI will launch an official wallet. Eric Trump also stated that the Trump family will take legal action against the launch of the "Official TRUMP Wallet". On the same day, Magic Eden responded that the application is indeed the official TRUMP wallet, using Trump's official brand and intellectual property. The New York Times commented that this is a complex business system operated by multiple family members and business partners, and they now seem to be competing with each other. Related reading: "Magic Eden announced its cooperation with TRUMP wallet, but was immediately "slapped in the face" by Trump's eldest son" , "What are the "mountains" in Trump's crypto empire?"
CZ: Now may be a good time to launch a dark pool perpetual DEX
On June 2, Binance founder CZ wrote on X that now might be a good time to launch a dark pool perpetual decentralized exchange (DEX). "For perpetual contracts (or futures), it is even more important not to let others know/see your orders. If others can see your liquidation point, they may try to push the market to liquidate you. Even if you have $1 billion, others may gang up on you. This may be what we have seen recently." "Either the order book is not displayed, or better yet, the smart contract deposit is not displayed at all, or it is displayed much later. This should be achievable through zero-knowledge proof or similar encryption technology." Related reading: "Breaking point in the contract track: What is the "dark pool DEX" advocated by CZ?" , "James Wynn's liquidation revelation, what opportunities are there for the "dark pool Perp DEX" advocated by CZ?"
James Wynn suffered a heavy loss of more than $13 million this whale, but he said he would search for small amounts of assets in his old wallet to make a comeback
On June 6, the whale James Wynn published a post admitting that he had failed to long position on Bitcoin. He used limit orders to close his positions in the continuous passive liquidation, and currently has no long positions. "I closed my position and accepted the failure. The evil market maker defeated Wynn 1 to 0." His HyperLiquid account lost about $1.655 million in the past 24 hours, about $13.465 million in the past 7 days, about $28.06 million in the past 30 days, and about $21.79 million in the entire period. He then published a post reviewing his mental journey, saying that he had previously understood that he had lost control and was essentially gambling, but he wanted to recover his losses and was afraid of being laughed at for "making 100 million and not being able to keep it", so he got deeper and deeper. But only one hour later, he posted on social media that in the next few days, he would search for small assets in some old wallets to see what assets he could find, and he couldn't just go home empty-handed. Previously, he had launched fundraising several times to seek funds for opening orders. Related reading: "Who is directing James Wynn's reckoning?" , "James Wynn is on the road to old glory, begging online for insufficient gambling funds"
Ripple CEO says he never sought to acquire Circle
On June 4, The Block reported that Ripple CEO Brad Garlinghouse revealed in a conversation with Georgetown University Law School professor Chris Brummer that Ripple had never sought to acquire Circle, refuting recent reports that the crypto giant had offered $4 billion to $5 billion to try to bring the stablecoin issuer under its control.
Kraken begins distributing funds to FTX creditors this week
On June 2, Sunil, a representative of FTX creditors, stated on social media that "FTX creditors have received FTX's distribution funds in their Kraken accounts." It was previously reported that FTX has launched a second round of repayments of more than US$5 billion, and eligible creditors will receive funds within 1 to 3 business days.
TRUMP officially airdrops TRUMP NFT to all registered users of the dinner leaderboard
On June 3, TRUMP Meme officially announced that it had airdropped TRUMP NFTs to users who participated in the "Dinner with Trump" event. These NFTs are based on the Solana chain and are collectibles commemorating the "crypto president." A total of 3 different NFTs were issued this time, and you must meet any of the following conditions: successfully register to attend the dinner; be a top 220 user; or continue to hold a position during the dinner (diamond hand).
Binance Alpha continues to promote airdrops and TGE this week; at the same time, the Alpha points risk control system is upgraded, and the use of robots will be considered a violation:
June 2
· Points ≥ 210 can receive 424 SQD (Subsquid) airdrops;
· Points ≥ 223 can receive 1111 EDGEN airdrops.
June 3
· Points ≥ 213 can receive 900 BDXN (Bondex) airdrops;
· Points ≥ 211 can receive 2666 ZRC (Zircuit) airdrops.
June 4: 160 LA (Lagrange) airdrops are available for players with a score of ≥215.
June 5: Points ≥ 210 can participate in CUDIS TGE. All activities require 15 points.
On June 4, Binance issued a notice of violation of the Alpha points robot, "It has recently been detected that some groups use robots to participate in Alpha activities, which undermines the fairness of the Binance Alpha points project. For this reason, Binance has upgraded the risk control system to enhance the detection and handling of such behavior. Any use of robots - including but not limited to scripts, automated tools or other non-manual methods - will be considered a violation. Binance reserves the right to revoke the Binance Alpha points qualification of accounts participating in such activities and impose further restrictions if necessary."
Ethereum Co-founder: Negotiating constructive cooperation based on Ethereum with a sovereign wealth fund of a "big country"
On June 4, according to Decrypt, Ethereum co-founder and Consensys CEO Joe Lubin said on Tuesday that his company is in talks with "major sovereign wealth funds and banks" in a "very powerful" country about possible construction based on Ethereum. In the latest episode of Rug Radio's "Fomo Hour", Lubin explored Ethereum, the second largest asset in the crypto market, and predicted that a new round of decentralized super cycle driven by ETH may be coming.
Source: pump.fun plans to conduct $1 billion token sale at a $4 billion valuation
On June 4, according to relevant reports, people familiar with the matter revealed that pump.fun plans to raise $1 billion through token sales. Sources said that the valuation of this token issuance will reach $4 billion, and the tokens will be sold to the public and private investors. It is not yet confirmed when the token will be launched, or whether it will be issued on the pump.fun platform. If the valuation reaches $4 billion, pump.fun will become the latest "unicorn" startup in the crypto field. pump.fun has not yet responded to multiple requests for comment. "Is Pump.fun a market savior or a liquidity killer with a valuation of 4 billion?" , "Pump.fun is going to issue coins, what does the community think?"
JPMorgan plans to allow clients to use Bitcoin ETF as loan collateral
On June 4, Bloomberg reported that Wall Street giant JPMorgan Chase plans to allow its customers to use crypto ETF stocks such as BlackRock iShares Bitcoin Trust as collateral for loans. People familiar with the matter told Bloomberg that the bank will also begin to take cryptocurrency holdings into account when assessing customer net worth and liquid assets. This means that cryptocurrencies will be treated the same as real estate and cars when assessing a customer's ability to repay a loan.
Web3 security company Salus claims that Chinese law enforcement agencies have cracked three cases of money laundering using HyperLiquid; questioned by the community
On June 6, Mirror Tang (@mirrorzk), founder of Web3 security company Salus, posted on social media that since March this year, Chinese law enforcement agencies have cracked three cases of cryptocurrency money laundering using HyperLiquid. The operation method is to use Hyperliquid's high-leverage liquidation mechanism to flush out illegal gains, create liquidation losses on HyperLiquid, and reversely build positions on centralized trading platforms to make profits and complete fund laundering. Salus will publish a research article in cooperation with law enforcement agencies in the future to officially disclose this information. Mirror Tang also pointed out that the strategy structure is highly similar to the operation path of the whale James Wynn, who recently opened a high-multiple contract and eventually withdrew $100 million in profits. However, his statement was questioned by the community, saying that he did not provide any evidence to prove the statement, perhaps an attack on HYPE.
Binance to launch a plan to improve spot Altcoin liquidity
On June 4, Binance announced the launch of a spot Altcoin liquidity enhancement program to enhance the liquidity and trading efficiency of specific token trading pairs in the spot market. The program aims to provide users with smaller spreads, lower slippage, and an overall better trading experience to support small and medium-sized liquidity providers who focus on token market making. The token liquidity enhancement program provides a 1 basis point rebate to small-scale market makers and supports 18 tokens at launch. The qualification review period for the new program will start at 00:00 (UTC) on June 9, 2025.
WLFI airdrops 47 USD1 to participating token subscription addresses
On June 4, according to the monitoring of Ai Yi, an on-chain analyst, WLFI airdropped 47 USD1 to each of its token subscribers, and it was directly airdropped to its Ethereum address. It is worth noting that Trump is now the 47th President of the United States.
Musk's XAI is selling $300 million in stock
On June 3, the Financial Times reported that Musk's XAI was in the process of selling $300 million in stock, which valued the company at $113 billion. Related reading: "Musk's business empire restarts: xAI raises $300 million + issues $5 billion in bonds, Neuralink raises another $650 million"
US Senator: Will propose an amendment to the GENIUS Act to prevent the Trump family from launching a crypto wallet
On June 4, U.S. Senator Elizabeth Warren posted on social media that the Republicans inserted the exemption clause for crypto wallets into the GENIUS Act at the last minute, and now the Trump family is planning to launch a crypto wallet. She will propose an amendment to plug this loophole, and the bill will not pass without serious anti-corruption measures.
Trump's social platform Truth Social submits Bitcoin ETF application
On June 4, documents showed that Trump’s social platform Truth Social submitted an application for a Bitcoin ETF.
Data: Nearly 45% of VC-backed crypto projects have ceased operations
On June 4, Bitcoin.com reported that survey data showed that nearly 45% of VC-backed crypto projects have ceased operations, and 77% of projects have a monthly income of less than $1,000. The study covers 1,181 projects that received funding between January 1, 2023 and December 31, 2024. The report pointed out that among the top venture capital firms, Polychain Capital's investment projects had the highest failure rate, 44% of the projects had ceased operations, and more than three-quarters of the projects failed to generate significant revenue. Other top venture capital firms such as Yzi Labs (72%), Circle (38%), Delphi Ventures (33%) and Consensys (30%) also face a high proportion of project failures. The study found that the amount of financing has a significant impact on the success rate of the project. The failure rate of projects with financing of more than $50 million is low, while more than 33% of projects with financing of less than $5 million eventually fail or cease operations.
Data: Over 60% of frequent traders on pump.fun lost money in the past six months, and 311 addresses earned over $1 million
On June 5, according to the Dune dashboard, more than 60% of the approximately 4.257 million addresses that conducted more than 10 token transactions on pump.fun in the past 6 months were in a loss state. About 2.408 million addresses (56.6%) lost between $0 and $1,000, about 1,700 addresses lost more than $100,000, and 46 addresses lost more than $1 million. Among the profitable addresses, the number of addresses with a profit range of $0 to $1,000 was the largest, reaching 916,500 (21.5%). In addition, more than 5,000 addresses made a profit of more than $100,000, and 311 addresses made a profit of more than $1 million.
K Wave Media plans to sell up to $500 million in common stock to support its Bitcoin strategic reserve, aiming to become the "Korean version of Metaplanet"
On June 4, it was reported that K Wave Media Inc., the first Korean media alliance on Nasdaq, announced a securities purchase agreement with Bitcoin Strategic Reserve KWM LLC, through which the company will issue up to $500 million in common stock. The proceeds from this financing will be used to support the company's Bitcoin-centric digital asset reserve strategy, working capital and mergers and acquisitions, and further expand its content production and K-POP-related businesses. In addition, the company plans to operate Bitcoin Lightning Network nodes and invest in Bitcoin native infrastructure to enhance decentralized properties and obtain on-chain transaction rewards. Officials said that K Wave aims to become the "Korean version of Metaplanet"-referring to the case of Japan's Metaplanet, the company became the world's best performing stock after adopting a Bitcoin reserve strategy in 2024, and continued to lead in 2025.
Spanish coffee chain Vanadi plans to invest 1 billion euros in Bitcoin reserves
On June 4, it was reported that Spanish coffee chain Vanadi is planning to invest more than $1.1 billion in Bitcoin as part of its new reserve strategy. This is part of a growing trend among executives of global companies. The company does not intend to use Bitcoin to supplement its revenue, but wants to completely transform into a Bitcoin-centric business. After experiencing losses in 2024, Chairman Salvador Martí is betting on the Web3 sector. Martí's plan emulates MicroStrategy in many ways. Like Michael Saylor, Martí plans to raise funds to buy Bitcoin through a large-scale offering of Vanadi shares. He has already made his first purchase: 5 Bitcoins for about $500,000 two weeks ago.
Beijing police establish a new mechanism for handling virtual currencies involved in criminal cases, which is included in the category of "physical surrender"
On June 5, according to the Capital Public Security Law Public Account, the Beijing Municipal Public Security Bureau Legal Affairs Corps and the Beijing Equity Exchange established a cooperative mechanism for the disposal of virtual currencies involved in the case, and jointly signed the "Framework Agreement on the Cooperation of Virtual Currency Disposal Business Involving the Case", which included the virtual currencies involved in the case in the category of "physical surrender". The article stated that the Municipal Bureau Legal Affairs Corps and the Beijing Stock Exchange further expanded the scope of cooperative disposal, conducted a full investigation and demonstration of this special property involved in the case from the perspectives of policies, regulations and operational paths, and explored a new channel for overseas disposal, namely: the public security organs entrusted the physical virtual currency involved in the case to the Beijing Stock Exchange for disposal. After accepting the entrustment of the public security organs, the Beijing Stock Exchange selected professional service agencies to conduct inspections, reception, and transfer of the virtual currency involved in the case, and sold it publicly through a compliant licensed exchange in Hong Kong. After fulfilling the national foreign exchange management approval procedures, the settlement was transferred to the special account of the public security organs involved in the case and turned it over to the state treasury. At present, this model has been used to successfully dispose of the virtual currency involved in a case handled by the Shunyi Public Security Bureau.
Wuhan police in China smashed a virtual currency investment fraud den and arrested 32 suspects
On June 3, Guangming.com reported that Wuhan Dongxihu police destroyed a fraud den hidden in the countryside and arrested 32 suspects, 20 of whom have been detained. The gang pretended to be "white, rich and beautiful" to make friends online, boasted about the investment income of virtual currency, induced victims to invest in virtual currency on fake platforms, and created a controllable "high return" illusion, but in fact it was impossible to withdraw cash, and the funds eventually flowed into the accounts of the fraudsters.
This week's big rounds: SharpLink Gaming, Scalable Capital, Rails, OneKey, BitMine
On June 2, according to official news, SharpLink Gaming completed a private placement financing of US$425 million, led by Consensys. SharpLink intends to use the proceeds to purchase ETH and use it as its main treasury reserve asset.
On the 3rd, Scalable Capital, an AI-driven portfolio management tool service provider, announced the completion of a 155 million euro financing round, led by Sofina and Noteus Partners, with participation from Balderton Capital, Tencent and HV Capital. Scalable Capital's total financing has exceeded 470 million euros.
On the 4th, according to relevant reports, the cryptocurrency trading platform Rails completed US$14 million in financing. This round of financing was participated by Kraken, Slow Ventures, CMCC Global, Quantstamp and Round13 Capital. The financing funds will be used to launch a trading platform that combines self-custody and high-speed execution.
On the 5th, the open source hardware wallet project OneKey announced the completion of its Series B financing, with a valuation of US$150 million. This round was led by YZi Labs, which is its largest investment in the hardware wallet field to date. Past supporters include top venture capital institutions such as Dragonfly, Ribbit Capital, and Coinbase Ventures.
On June 5, Bitcoin mining company BitMine Immersion Technologies announced the completion of an $18 million IPO, issuing 2.25 million shares of common stock at $8 per share, and has been approved for listing on the New York Stock Exchange's American segment.
This week's hot articles
"Musk turns against Trump, crypto friends and family split, Trump's backyard is on fire"
The conflict between Musk and Trump broke out publicly on June 6. The two fought each other on the X platform, causing the stock prices of Tesla and TMTG to plummet. The dispute involved Trump's withdrawal of the nomination of NASA director and his promotion of the "Beauty Act", which triggered Musk's strong opposition and accused Trump of being ungrateful. At the same time, the Trump family's crypto empire also fell into chaos. Many parties accused each other over the ownership and authorization of "Trump Wallet", exposing the multiple interest groups and factional disputes behind projects such as $TRUMP tokens, NFTs, and stablecoins. The contradictions within the family over the distribution of power and benefits are also becoming increasingly intensified.
From bearish to 25 times oversubscription, Circle IPO's big turnaround
Two months ago, Circle was facing bad news due to questionable profitability and declining market share of USDC. Now it has completed its listing at $31 per share and a valuation of $6.9 billion, with an oversubscription of 25 times. Behind this is the emotional reassessment of the stablecoin narrative and the catalysis of regulatory dividends. The implementation of the stablecoin regulatory framework in the United States and Hong Kong, coupled with the support of institutions such as BlackRock and Ark, has boosted market confidence. Although its profits rely on interest income and have a low gross profit margin, it will benefit from the high interest rate environment and market recovery in the short term, but the sustainability of its valuation still needs to be realized from fundamentals. Circle's listing this time is not only a victory for the project itself, but also regarded as an important node for the compliance and capitalization of stablecoins.
"Founder of the First Stablecoin Stock": How I Got All in on Stablecoins 7 Years Ago"
Circle officially landed on the New York Stock Exchange, becoming another crypto-native giant listed on the U.S. stock market after Coinbase, marking the official establishment of the stablecoin narrative in the capital market. Its founder, Jeremy Allaire, has gone from being an Internet 1.0 "shovel seller" to a cryptocurrency pioneer. With his long-term commitment to open finance, he led Circle to gamble on USDC in the cold winter, building a compliant and transparent reserve system and promoting the global layout of stablecoin infrastructure. Today, with global regulation becoming clearer and giants such as Visa embracing USDC, the U.S. dollar stablecoin represented by Circle is accelerating towards the core of the real payment and financial system. Allaire firmly believes that stablecoins are the real electronic cash in the Internet era and have the potential to reconstruct 10% of the world's monetary system in the next decade.
"To grab a bite of Pump.fun, new Launchpads are creating a "cultural undercurrent""
The new generation of Launchpad platforms represented by Pumpfun are reshaping the logic of asset issuance in the crypto market, evolving from a "launch and trade" tool spawned by the Meme craze to a new paradigm that covers belief investment, anti-rug mechanisms, social identity assetization, and transparent distribution on the chain. Although the overall market liquidity has not increased significantly, new launchers have emerged in an endless stream, forming fierce competition. Innovative projects such as Cooking.City, Long, Ego, and Gavel have emerged on the Solana chain, trying to rebuild the issuance trust mechanism. However, with the proliferation of junk tokens and a sharp drop in graduation rates, the market's aversion to and dependence on Pumpfun coexist, and the transformation between assets and attention has become the core logic of the new cycle.
"South Korea's new president Lee Jae-myung wants to do three things in the crypto"
Lee Jae-myung's election as South Korean president marks an institutional turning point in the country's crypto policy. He proposed promoting the Korean won stablecoin, supporting the legalization of spot crypto ETFs, and advocating the allocation of crypto assets to pension funds and the establishment of a special regulatory agency. This victory is not only a personal political comeback, but also seen as the starting point for South Korea's digital assets to enter a new cycle of "national governance." Despite the controversy over stablecoins and regulatory challenges, the South Korean government has shown a clear intention to incorporate crypto assets into the national financial system, heralding a deep transformation from free and wild growth to institutionalization and compliance.
"Regarding stablecoins, the Federal Reserve figured it out three years ago"
Circle will be listed on the New York Stock Exchange on June 5 with the stock code CRCL, planning to raise $624 million. The valuation target has been raised to $7.2 billion and has been oversubscribed 25 times, showing the strong enthusiasm of institutions for the concept of stablecoins. With the continued in-depth research of the Federal Reserve and governments around the world on stablecoins, and the passage of the GENIUS Act and the Hong Kong Stablecoin Bill, stablecoins are becoming one of the core asset classes of concern to the global financial system. The Federal Reserve's research pointed out that stablecoins are expected to promote the development of tokenization of payment systems and financial markets, and serve as a digital safe haven in turbulent markets, but if a narrow banking model supported by central bank reserves is adopted, it may trigger systemic challenges such as credit disintermediation.
Recently, a Twitter article about Bitcoin and Tether has caused widespread discussion in the English community, with a single tweet receiving over 800,000 views. In the article, the author Jacob King, who is a staunch Bitcoin bear, pointed out that the Bitcoin market is manipulated by "insiders" such as Tether and Bitfinex, and that the price illusion is maintained through false demand, circular buying, and unlimited money printing. Jacob believes that the so-called "entry of the government and institutions" is a man-made narrative and is actually a Ponzi scheme. Once a liquidity crisis occurs, the market will face a collapse.
When Singapore starts to drive away people in the crypto
The Monetary Authority of Singapore has taken strong measures, stipulating that all crypto service providers without DTSP licenses must stop providing services to overseas customers by June 30, 2025, which has caused a stir in the industry. The regulation has shifted from the past "differentiation between inside and outside" to full coverage, blocking the "regulatory arbitrage" channel. The motivation behind this is to prevent money laundering and reputation risks. Affected companies are considering moving to Hong Kong, Malaysia, Dubai and other places, while licensed or exempted companies are benefiting instead. Singapore, once a crypto haven, is accelerating its farewell to its free port role.
"Bitcoin's market share remains high, do Altcoin still have a chance to explode?"
Bitcoin continues to hit record highs, attracting large institutional purchases and driving structural price increases. DeFi is accelerating the integration of AMM and money markets to achieve dual asset utilization and improve capital efficiency. The cross-chain liquidity layer tends to be flatter, and the user experience is smoother. The competition for stablecoin yields is fierce, and institutional yield demand is increasing. At the same time, points and identity verification airdrops have become new means of user growth. The NFT market is weak, and funds are flowing more to Memes with practicality and reward mechanisms. The ecological pattern is gradually evolving.
"Crypto AI is gaining popularity again. What is the market hyping recently?"
More and more large models such as Gemini, Claude, and GPT are beginning to challenge video games such as "Pokemon", which not only demonstrates breakthroughs in perception and action capabilities, but also indicates that AI is expected to overcome the difficulty of "emotional intuition" in trading. In the field of AI Agent and InfoFi, projects such as Axelrod, Arbusai, Avo, and BasisOS have emerged one after another, focusing on smart investment advisors, real-time intelligence, trading strategies, and cross-chain arbitrage, respectively. The market value of related tokens has reached tens of millions of dollars, and the AI-driven on-chain trading ecosystem is rapidly taking shape.
"In the era of "mouth" stroking, a comprehensive inventory of InfoFi targets"
InfoFi (information finance) is transforming information from a platform byproduct into a core asset with price, incentivization and tradability, and is initiating a deep innovation in content distribution and value recognition mechanisms. Kaito defines "high-quality content" with a programmable incentive mechanism; Cookie.fun focuses on data panels and community participation; Galxe's Starboard platform strengthens "growth quality" and reputation assets; LOUD launches an IAO mechanism based on influence distribution; GiveRep and Ethos build on-chain reputation standards; Wallchain, bam.fun and Vly Wheel distribute revenue through real interactions and communication paths, and jointly promote the establishment of "attention" as the main axis of the economy. InfoFi is giving birth to a new content economic ecosystem composed of tokenized reputation, programmatic incentives and on-chain identity, reshaping the value recognition and distribution logic of information.
"In the crypto, how does narrative trading work?"
Prediction markets enable the market to accurately reflect the probability of a single verifiable event by providing risk capital, transparent rules, and real-time information aggregation mechanisms. Narrative trading focuses on market sentiment and story momentum, and transforms the ever-changing narrative content into tradable assets through tools such as sentiment oracles. The combination of the two, with both institutional guarantees and capital support and a rich and diverse source of content, promotes the pricing, trading, and hedging of narrative assets in the crypto market and opens up new investment areas.
From attention to monetization, how does InfoFi change the business philosophy of crypto KOLs?
In the era of attention economy, attention itself has value, but its value depends on factors such as retention, consensus, and content quality. Kaito converts attention into users, capital, and markets through products such as Yaps, Earn, and Capital Launchpad. In the future, Kaito will break the information cocoon, build a fairer InfoFi network, and realize data sovereignty and universal monetization.
a16z: The era of foundations is ending
As the regulatory environment shifts to "control" rather than "development effort", the crypto industry faces an opportunity to reshape its structure. The foundation structure, which has long been regarded as a symbol of decentralization, actually has problems such as incentive distortion, legal restrictions and operational inefficiency, which has weakened the scalability and market responsiveness of the project. In contrast, the corporate structure is more conducive to capital allocation, talent incentives and market feedback, while maintaining long-term interests with token holders through programmatic contracts and incentive mechanisms. Through new structures such as DUNA (Decentralized Non-Corporate Association) and BORG (Cybernetic Organization Tool), projects can achieve legal compliance, efficiency improvement and transparent governance while retaining the advantages of decentralization, marking a new stage in the crypto industry's transition from foundations to a more sustainable collaborative system.
《RWA public chain new dark horse, revealing Keeta Network's "three highs" strategy》
Keeta Network is a high-performance L1 public chain that has not yet been launched on the mainnet. It is committed to reconstructing the global payment system, emphasizing high interoperability with traditional financial systems (such as SWIFT, ACH), and has highlights such as native tokenization, digital identity and compliance support. The project claims to be able to achieve tens of millions of transactions per second and settlement within 400 milliseconds, combining DAG architecture and mempool-free design to improve processing efficiency. Its token $KTA has risen more than 13 times since its issuance in March, with former Google CEO Schmidt and former Nano developers standing behind it. Although the technical vision has attracted attention, potential risks such as the test network not yet open and the concentration of chips cannot be ignored.
Metaplanet, a Japanese company that originally operated couple hotels, successfully transformed into the largest Bitcoin-holding listed company in Asia and the 11th largest in the world within a year through innovative methods such as warrants, zero-interest bonds and Bitcoin option income. Its Bitcoin strategy has driven its stock price up 3,000%, and 88% of its operating income comes from crypto assets. The company has gradually separated from the traditional hotel business by continuously purchasing Bitcoin and building a positive feedback financing cycle, becoming a unique Bitcoin proxy window in the Japanese capital market. This radical transformation is seen as a model for companies to completely reconstruct their business models in the digital age, and may also become a benchmark for other companies to imitate or learn from.
"Besides Binance Alpha, what other wealth codes are there?"
Data from May showed that BNB Chain is leading in key indicators such as DEX trading volume, number of on-chain transactions, and number of stablecoin users. The ecosystem has ushered in a strong outbreak, and Meme coins, AI projects, and DeFi protocols have become the focus of funds. Binance Alpha and USD1 stablecoin jointly build a flywheel of liquidity and user growth, driving the ecological heat to soar. Retail investors can participate in it through interactive tasks, liquidity mining, and new issuance, but they need to pay attention to diversification of investment and risk control. With the optimization of on-chain performance and the implementation of AI strategy, BNB Chain is expected to continue to lead the next round of public chain craze.
"a16z: Stablecoins are on the rise, what new opportunities do entrepreneurs have?"
Stablecoins are becoming a key tool to connect traditional finance and emerging technologies. They have received widespread attention around the world due to their speed, low cost and programmability. However, to realize their potential, three major challenges still need to be addressed: first, to achieve currency unification so that stablecoins can be exchanged with traditional currencies at a 1:1 barrier-free rate; second, to properly deal with the monetary policy shocks that may be caused by US dollar stablecoins in non-US dollar economies; and third, to prevent the financial market imbalances and credit contraction risks caused by large-scale collateralization of government bonds. The future design of stablecoins should integrate tokenized deposits, diversified collateral assets and on-chain liquidity mechanisms to maintain economic stability and credit creation capabilities while retaining the vitality of financial innovation.
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