BlockBeats will curate the industry's key news content for the week (5.26-6.1) in this article and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Recap

Bitcoin 2025 Conference Held in Las Vegas, US Vice President Pence and Several Industry Insiders Attend and Speak

From May 27 to 29, the Bitcoin 2025 Conference took place in Las Vegas, USA. The event was attended by Donald Trump's son Donald Trump Jr., US Senator Cynthia Lummis, BlackRock's Digital Assets Head Robert Mitchnick, White House Crypto Czar David Sacks, among others who delivered speeches. Donald Trump Jr. revealed during the event that the family had faced banking services shutdown due to political reasons, leading to Trump's shift in stance towards cryptocurrency; Michael Saylor shared "21 Ways to Get Rich" at the conference; Tether's CEO disclosed the company's holdings of over 100,000 BTC and 50 tons of gold. Additionally, Square, a subsidiary of Block, launched a real-time Bitcoin payment pilot at the conference venue, where attendees could purchase merchandise through the Lightning Network. Related reads: "Bitcoin 2025 Conference Concludes, What Key Signals Did the Three-Day Event Release?", "US Vice President Pence's Bitcoin Conference Speech: If Politics Ignores, Politics Won't Ignore the Crypto Community", "Arthur Hayes' Bitcoin 2025 Conference Speech: The Road of BTC to $1 Million", "Tether CEO's Bitcoin Conference Speech in Full: We Are Not a Printing Press, We Are an Intermediary-Free Infrastructure Provider"

Trump Media Tech Group Announces Launch of Around $25 Billion Bitcoin Treasury Plan

On May 27, Bloomberg reported that the Trump Media Tech Group announced the launch of an approximately $25 billion Bitcoin treasury plan, integrating BTC into its asset reserves for financial stability and long-term value storage. The group has entered subscription agreements with around 50 institutional investors for a total of approximately $25 billion in private placements. The funding comprises approximately $15 billion in common stock and $10 billion in 0% interest convertible senior secured notes, with the proceeds intended for creating a Bitcoin treasury. The company will use Crypto.com and Anchorage Digital for the custody of the Bitcoin treasury, with the fundraising expected to be completed around May 29, 2025. Related reads: "The Story Behind Trump's $25 Billion Bitcoin Treasury Plan, Is Crypto.com the 'Biggest Winner'?", "Behind Trump's $25 Billion All In Bitcoin, Stock Market Influx into 'BTC Fentanyl'"

Whale James Wynn Engages in High-Frequency Trading This Week, Faces Multiple Liquidations, Loses Over $100 Million

Recently, Whale James Wynn opened large high-leverage BTC positions multiple times this week on Hyperliquid, with the highest position exceeding $1.1 billion. As the market fluctuated, the positions faced liquidation multiple times, ultimately resulting in significant losses. On May 28, FTX creditor representative Sunil stated on social media that "James Wynn's trading style is clearly like Alameda." On the 30th, according to on-chain analyst Yu Jin's monitoring, James Wynn's $100 million position was liquidated, earning the Hyperliquidity Provider (HLP) $530,000. Related readings: "James Wynn 'Going Long' Again: A Legend When Winning, a Gambler When Losing?", "From '10u' War God to $1.2 Billion Contract Whale: James Wynn's Path of Wild Gambling", "$HYPE Hits Another All-Time High, Why Do Whales Choose to Trade on Hyperliquid?", "From Being Ignored to 'CEX Killer,' What Did Hyperliquid Do Right?"

Satoshi Nakamoto Ranks 11th on the Global Billionaires List, Wallet Dormant for 16 Years

On May 27, according to Arkham data, Bitcoin's founder Satoshi Nakamoto holds approximately 1.1 million BTC, accounting for 5.2% of the total supply, valued at nearly $121 billion at the current price. His wallet has been inactive for 16 years. With Bitcoin recently hitting an all-time high of $111,814 (currently retracing to around $110,000), Satoshi Nakamoto's wealth has surpassed NVIDIA CEO Huang Renxun and Walmart heiress, making him the 11th richest person globally.

SBF Sentence Reduced by Over 4 Years, Expected to Be Released on December 14, 2044

On May 26, according to reports, FTX founder SBF was previously sentenced to 25 years in prison. If the situation remains the same, he will be released over four years early. He was initially held in the infamous Metropolitan Detention Center in Brooklyn, where he shared a dorm-style room with Sean "Diddy" Combs and unexpectedly gave an interview to Tucker Carlson in March, leading to his crisis manager's resignation. SBF was later transferred to FCI-Terminal Island in San Pedro, California, a prison that detains 850 low-security male inmates. The Federal Bureau of Prisons estimates that SBF will be released on December 14, 2044, serving less than 21 years of his sentence.

Musk to Leave Government, Resignation Process Initiated

On May 29, Musk posted on X stating, "As my time as a special government employee comes to an end, I want to thank President Trump for giving me this opportunity to cut wasteful spending. The mission of the Department of Government Efficiency (DOGE) will only strengthen over time as it becomes a way of life for the entire government." Subsequently, U.S. White House officials confirmed Musk's departure from the government, and the resignation process has begun. On the 30th, a former DOGE employee mentioned concerns raised by Musk in an internal meeting, suggesting that DOGE may face stagnation after his departure.

Fed Releases Statement on Powell's Meeting with Trump

On May 30, according to an official announcement from the Fed, Federal Reserve Chair Powell met with Trump at the White House in response to the President's invitation. They discussed various economic development issues, including economic growth, employment, and inflation. Chair Powell did not provide specific expectations regarding monetary policy outlook but emphasized that the policy path will be entirely dependent on future economic data and its impact on the economic outlook. Finally, Powell stated that he and his colleagues at the Federal Open Market Committee (FOMC) will lawfully formulate monetary policy to support maximum employment and price stability, with all decisions based on prudent, objective, and non-politically influenced analysis.

Positive Developments from the U.S. SEC: Motion to Dismiss Binance Lawsuit Filed with Court; Clarification on Some PoS Staking Activities Not Deemed Security Transactions

On May 30, it was reported that the U.S. SEC has submitted a motion to dismiss the lawsuit against the cryptocurrency exchange Binance and its former CEO, Changpeng Zhao. The SEC, Binance, and CZ's lawyers have signed a joint stipulation of dismissal, which was filed with a federal court in Washington, D.C. They stated that, based on policy considerations, dismissing this case is appropriate. The lawsuit originated in 2023, with the SEC accusing Binance of operating without registration and making misleading statements about its trading controls. Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. On the same day, crypto journalist Eleanor Terrett revealed that the SEC's Division of Corporation Finance clarified that some proof-of-stake blockchain staking activities do not constitute security transactions. This new guidance follows the March guidance on certain proof-of-work mining activities, covering self-staking, staking-as-a-service, and additional services like slashing protection and custom rewards.

North Korean Hacker Group Lazarus Group Shifting Focus to Individual Investors

On May 29, blockchain sleuth ZackXBT revealed that the North Korean hacker group Lazarus Group carried out a network attack on individual cryptocurrency traders on May 24, stealing over $5.2 million in assets from one trader. The hackers used sophisticated malware to breach exchange wallets, multi-signature wallets, and external accounts, then transferred the stolen funds to the mixer service Tornado Cash, with around 1,000 ETH being laundered. Lazarus Group may have redirected its attack targets from institutions to individual investors.

Farcaster Launches Pro Subscription Service, Community User Airdrops PRO Tokens to Member Accounts

On May 28, the Farcaster Pro membership plan was launched, and the first 10,000 subscribers were eligible to receive an exclusive NFT and Blue V verification. On the 29th, Farcaster community user MJC716 announced an airdrop of PRO tokens (PROCOIN) to Farcaster Pro members, with all 10,000 limited edition NFT holders eligible for the airdrop, and the first 500 claimants receiving approximately 5 times the allocation. Related Reading: "Farcaster to Launch Pro Membership Service, Is It Worth It?"

Stablecoin Giant Circle Making Recent Moves: Files for NYSE Listing, Denies Sale Rumors, Acquires RWA Issuer

On May 27, it was reported that the stablecoin USDC issuer Circle submitted a listing application to the New York Stock Exchange. The plan is to issue 24 million shares of Class A stock, with 9.6 million shares from the company and 14.4 million shares from shareholders. The expected stock price range is between $24 and $26, with the trading symbol CRCL. On the 29th, Bloomberg reported that BlackRock plans to subscribe to 10% of Circle Internet's IPO.

On May 27, reports indicated that Circle was in informal talks for a potential sale with Coinbase Global or Ripple while continuing to push forward with its IPO plan submitted in April. A Circle spokesperson promptly denied this, stating in a release, "Circle is not seeking a sale. Our long-term mission remains unchanged." On the 28th, according to Circle's IPO filing, in January 2025, it acquired RWA issuer Hashnote for $9.9 million in cash and approximately 2.9 million fully diluted common shares (totaling approximately $99.8 million in value). Hashnote is the issuer of USYC and has seen a decrease in its market share in tokenized U.S. bond products since the acquisition. Hashnote issued $1.3 billion worth of USYC tokens, experiencing rapid growth last year, becoming the market's largest tokenized U.S. bond product. Related Reading: "Coinbase Acquiring Circle? Behind the Acquisition Rumors, the Harsh Business Reality of CEX", "Talking About Sale While Sprinting for IPO, What Is Circle Trying to Do?"

YZi Labs Announces Investment in Avalon Labs

On May 26, YZi Labs has invested in Avalon Labs, a Bitcoin on-chain capital market aimed at building a scalable, transparent, and accessible financial network to unleash the full economic potential of Bitcoin. As the world's largest Bitcoin stablecoin issuer, Avalon Labs is transforming Bitcoin from a passive store of value to a dynamic financial asset, driving global market adoption and utility in the real world.

Loud! Announces Launch of LOUD Token's IAO Claim

According to official sources, Loud! (LOUD) has completed two phases of token sales, with the first phase (whitelist phase) having a fundraising target of 200 SOL and ultimately receiving 194.8 SOL, with each participating user expected to receive 225,000 LOUD. The second phase (public sale phase, first come, first served) had a fundraising target of 205.2 SOL (including 5.2 SOL quota unfilled from the first phase) and has been oversubscribed to the hard cap. Following Loud!'s sale rules, in the event of oversubscription in the second phase, the participation quota for each user is expected to automatically drop from 0.2 SOL to 0.05 SOL, with excess funds being refunded, hence each person is expected to receive 56,250 LOUD in the second phase.

Cetus Releases Incident Report, Proposes LP Compensation Plan, and Enhances Security Audits

On May 27, Cetus officially reported that its CLMM liquidity pool was attacked by exploiters utilizing an open-source library vulnerability and an overflow check defect, injecting false high-value liquidity and removing assets multiple times to steal funds. Following the incident, Cetus promptly froze the attacker's two wallet addresses on Sui and collaborated with the Sui security team and multiple audit firms to conduct contract reviews and upgrades. Additionally, Cetus announced it would utilize cash and token reserves to fully compensate affected user assets upon community vote approval. On the 30th, the relevant governance proposal was approved, and Sui will implement a one-time protocol upgrade in the next version to validate the voting results and transfer the stolen funds to a wallet jointly managed by Cetus, the Sui Foundation, and OtterSec. Related reads: "Cetus Hack Incident Follow-up: Governance Proposal Overwhelmingly Approved, Protocol Recovery Enters Implementation Phase", "SlowMist: Cetus Hack Analysis, 1 Token Leveraged to $230 Million"

OpenSea: OS2 Platform Exits Test Phase and Opens to the Public, Announcing SEA Token Airdrop

On May 30, according to Coindesk, OpenSea officially launched the fully upgraded OpenSea2 (OS2) platform, exiting the test phase and opening to the public. The new platform supports token transactions for 19 blockchains, marking its transition from a focus on NFTs to a broader crypto market. The platform also introduced a new reward system called "Voyages," where users can earn XP points by completing on-chain transactions and other basic operations. OpenSea co-founder and CEO, Devin Finzer, stated that OS2 is the "foundation of a new generation of OpenSea." The company's CMO, Adam Hollander, revealed in a blog post that the SEA token will be distributed through a Token Generation Event (TGE) after completing a series of product updates, but the specific timing has not been announced. Read more: "OpenSea is Finally Going to Release Its Token, This Time Not PUA?"

Telegram Founder Announces Partnership with xAI, Securing $3 Billion in Cash and Equity; Musk Subsequently Denies Signing Agreement

On May 28, Telegram founder Pavel Durov announced on a social media platform that Telegram had entered into a one-year partnership agreement with xAI to distribute Grok to Telegram's over one billion users and integrate it into the Telegram app. Telegram will receive $3 billion in cash and equity from xAI and will get 50% of the subscription revenue from xAI sold through Telegram. Following this news, the TON experienced a short-term surge of over 6%. On the 29th, Musk tweeted denying that a transaction agreement between xAI and Telegram had been signed, stating "I have not signed any agreements." TON also retraced from its high point.

Musk Confirms X Money Will Undergo Testing Before Launch in 2025

On May 27, Musk's payment and banking app X Money began testing. An account focusing on Musk and Tesla news, "Tesla Owners of Silicon Valley," reported on X that Musk had confirmed that X is "about to launch X Money." Musk later confirmed this news. According to permit system data from several states in the US, X has been actively seeking multiple transfer licenses for X Money and has currently obtained 41 such licenses. Musk plans to integrate the payment feature into X, with the early concept of X Money tracing back to October 2022 when Musk acquired Twitter for $44 billion.

Bloomberg: Telegram Issues $1.7 Billion Convertible Bonds for Debt Restructuring Financing

On May 29, according to Bloomberg, Telegram raised $1.7 billion through convertible bonds to repay existing debt and extend the debt maturity. Based on Bloomberg's compiled data, the fast-growing messaging platform will use part of the proceeds from the five-year bonds issuance to repurchase $955 million of debt originally due in 2026. Additionally, this transaction also raised an additional $745 million in new funds.

US Democratic Representatives Demand Trump to Disclose TRUMP Dinner Attendee List

On May 30, according to The Guardian, as Trump's relationship with the cryptocurrency industry is being questioned, Jamie Raskin, the leading Democratic member of the US House Judiciary Committee, has requested the disclosure of the guest list for a private dinner last week for major investors in TRUMP Coin and called for an investigation. Raskin stated that releasing the list would help the public understand who has poured tens of millions of dollars into the president and what these funds have bought.

Thailand's SEC to Block Bybit, 1000X, CoinEx, OKX, and XT Platforms in June

On May 30, Thailand's SEC announced that it would block the cryptocurrency exchanges Bybit, 1000X, CoinEx, OKX, and XT platforms starting June 28, 2025, and file legal action, alleging that they have engaged in operating as unauthorized digital asset business operators.

Binance Alpha Continues to Roll Out Multiple Airdrops and TGE Events This Week

Details are as follows:

May 26: Stake ≥200 points to receive 1,250 HUMA tokens, deducting 15 points;

May 27:

· Stake ≥198 points to participate in Elderglade TGE, consuming 15 points;

· Stake ≥204 points to receive 875 PFVS tokens, deducting 15 points;

May 28: Stake ≥195 points to receive 1,250 SOPH tokens, deducting 15 points;

May 29: Stake ≥193 points to participate in RDO TGE, consuming 15 points. Further reading: "Binance Alpha Intensifies, How to Engage in the Competition with a Better Strategy?"

SharpLink Gaming Announces Ethereum Treasury Reserve Strategy, Plans to Raise $425 Million to Accumulate ETH

On May 27, it was reported that the U.S.-listed company SharpLink Gaming, Inc. announced the signing of a securities purchase agreement for a $425 million private placement, planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (with company management team members at $6.72 per share), with Consensys Software Inc. as the lead investor. SharpLink plans to use the raised funds to purchase Ethereum as the company's primary treasury reserve asset. After the transaction is completed, Ethereum co-founder and Consensys founder & CEO Joseph Lubin will serve as Chairman of the SharpLink board and will act as a strategic advisor to assist the company in developing its core business. Related reading: "Spending $425 Million on ETH MicroStrategy, 'E-Guards' Abandon Political Correctness"

Media Outlet Foresightnews Exposes HashKey Platform Left with Only Six Months of Cash Flow and Massive Layoffs, Latter Responds as "Malicious Attack"

On May 30, Foresightnews published an article titled "Deep in a Public Opinion Storm, What's Wrong with HashKey?" In the article, it was revealed that HashKey was left with only six months of cash flow, and recently engaged in large-scale layoffs, with one-third of employees being dismissed, some IT suppliers experiencing delayed payments or even contract cancellations. In response, the HashKey Group issued an official statement, stating: "The article published by Foresightnews deliberately misleads the public, attempting to damage our reputation. Such malicious behavior is not only condemnable but also exposes the capital connections behind it and the unethical competitive motives. There is a potential capital connection between Foresight News and the OSL trading platform. Public information shows that OSL's parent company BC Technology announced in November 2023 that it accepted investment from the BGX Group, whose ultimate controller is also the founder of Foresight Ventures. Upon completion of the transaction, the BGX Group holds 29.97% of BC Technology's shares, becoming its largest shareholder. HashKey Group hereby declares that all business operations are proceeding as usual, strictly complying with regulatory requirements and making steady progress." Related reading: "Plunge, Layoffs, Cash Flow Crisis: HashKey in the Eye of the Storm"

World Iris Recognition Device Featured on Time Magazine Cover

On May 28, Time magazine unveiled its latest cover: the World Iris Recognition Device, "a bold startup founded by Sam Altman, aiming to prove you are human through a device named 'Orb'." BlockBeats previously reported that on May 22, to meet the growing market demand for Orb verification of World ID and support the expansion of the World Network in the United States and globally, World Foundation's subsidiary, World Assets Ltd., sold $135 million worth of WLD tokens to early supporters a16z and Bain Capital Crypto at market price. As a result, the circulating supply of WLD increased accordingly.

US Rap Group's Account "Unboxes" Solana Co-founder, Implicated in 40 BTC Economic Dispute, Allegedly Not Yet Confirmed as a Hack

On May 27, the US rap group Migos exposed Solana co-founder Raj Gokal's personal information on Instagram, mentioning a previous 40 BTC debt. However, crypto KOL @jbondwagon stated that Migos' Instagram account appears to have been hacked, with hackers using the account to expose Solana co-founder Raj Gokal's personal information. Previously, Raj Gokal had also mentioned that attackers were continuously attempting to take control of his email, social media, Google, Apple, and other accounts. Users are advised that if they notice unusual content on their accounts (such as coin issuance, fundraising, etc.), it is highly likely due to a hacker intrusion, and users are urged to remain vigilant.

Lido V3 Whitepaper Released with Feedback Open

On May 28, the Lido V3 whitepaper was released with feedback open. Lido V3, launched initially in February 2025, has improved the current protocol and introduced stVaults: a staking primitive supporting the development of non-custodial, permissionless, and customizable staking products, with on-demand liquidity supported by stETH. While the V3 concept has been solidified, crucial parts are still in progress. Contributors are particularly seeking feedback on stVault design and risk management to balance the risk profile and redeemability of stETH with operator-driven choices, reserve rate, and risk level.

Thailand to Allow Tourists to Spend Cryptocurrency, Focus on Regulatory Reform

On May 27, Thailand is preparing to allow tourists to spend cryptocurrency through a credit card-linked platform, reportedly announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira on the 26th. This initiative is currently under review by the Ministry of Finance and Thai banks, enabling tourists to link their cryptocurrency assets to credit cards for local spending. Merchants will receive Thai Baht as usual, typically unaware that cryptocurrency was used in the transaction. The pilot is expected to launch once critical infrastructure and regulatory checks are in place.

Hubei Police in China Bust Tether Scam, Involving "Delivery Drivers" Helping Scammers Launder Money

On May 26, according to the Hubei Cyber Police, in January this year, a woman named Xiaoli in Shengli Town, Hubei, met a self-proclaimed active-duty soldier named "Wang" on a dating platform. She was led by him to a secure messaging app under the guise of "military discipline," and then lured with the bait of an "internal investment channel" to gain trust. Wang displayed fake profit screenshots, which Xiaoli believed to be true, and she subsequently recharged tens of thousands of yuan to the scam platform. The scam ring used offline "delivery drivers" to receive cash and quickly convert it to USDT for money laundering. After the last transaction on March 28, Wang disappeared, and Xiaoli reported to the police. The Luotian police set up a special task force and found that the ring operated in a "foreign command, domestic money laundering" model, using USDT's anonymity to evade regulation. Currently, the police have recovered 130,000 yuan, frozen 300,000 yuan, arrested four suspects, and the case is still under investigation.

Taiwan University Elite Arrested for Operating International Drug Trading Website, Previously Lost a Large Amount of Cryptocurrency Due to Phishing Attack

On May 29, according to Taiwanese media, the U.S. FBI busted the international dark web drug market "Silk Road," with Taiwan University's Department of Asset Management graduate Lin Ruixiang as the mastermind. He founded the platform in 2020, attracting over 200,000 users and thousands of drug dealers in three years, with total transactions exceeding $1 billion in drugs. Lin Ruixiang had previously boasted about his virtual currency performance, claiming to be a VIP on exchanges, with monthly transactions exceeding millions of dollars, leading to a hacker-induced virus implantation, resulting in the theft of virtual currency and NFTs, plunging his finances into a crisis. Before being raided in March 2024, he once extorted users up to $20,000 as "hush money," ultimately leading to a collapse of trust and the platform.

This Week's Large Financing Rounds: Strive, Conduit, 21 Capital, Spetz Inc, VivoPower, Eternis AI

On May 27, asset management company Strive announced the completion of a $750 million private equity financing round, with a subscription price of $1.35 per share, a 121% premium to the ASST's previous closing price, and the opportunity to expand to a $1.5 billion financing through warrants. Strive will focus on deploying a "superior Bitcoin yield" strategic portfolio, with the financing being used to acquire biotech companies, distressed Bitcoin debts, and discounted structured Bitcoin credit products to build its Bitcoin reserve treasury.

On the 28th, stablecoin company Conduit completed a $36 million Series A financing round, led by Dragonfly Capital. With this Series A financing round, Conduit's total financing amount has reached $53 million. The company did not disclose the valuation of this round.

On the 29th, according to a filing with the U.S. SEC, Bitcoin asset management company Twenty One Capital raised an additional $100 million through convertible preferred collateral notes, bringing its total funding to $685 million and advancing its merger plans with Nasdaq-listed company Cantor Equity Partners (CEP).

On the 29th, it was reported that blockchain infrastructure company Spetz Inc announced the completion of a $10 million private funding first tranche. The company's CEO, Mitchell Demeter, stated that the funding would be used to purchase Sonic tokens, deploy validator node infrastructure, and implement DeFi strategies.

On the 29th, it was reported that Nasdaq-listed energy company VivoPower reached a $121 million private equity financing agreement to build an XRP-focused digital asset reserve strategy. The funding was led by Saudi royal family member Abdulaziz bin Turki Abdulaziz Al Saud, with former SBI Ripple Asia executive Adam Traidman serving as Chairman of the Advisory Committee.

On the 29th, it was reported that the crypto AI project FreysaAI's affiliated entity Eternis AI completed a $30 million funding round with participation from Coinbase Ventures and Selini Capital. The project is built on the Base blockchain and aims to construct a "personal AI digital twin."

Top Articles of the Week

"The New Consensus of Youth: Labubu, CSGO, and Meme Coins"

Labubu has transitioned from a trendy toy to a fashion staple, becoming a global social currency driven by stars like BLACKPINK and Rihanna. It has not only reshaped the luxury sales logic but also embarked on a financialization path of physical NFT under the impetus of emotional value, scarcity, and community consensus. This phenomenon mirrors the hype around assets popular among young people such as NFTs, CS jewelry, sneakers, handbags, and even meme coins, showing the decentralized pricing power of the new generation based on aesthetics, emotions, and traffic.

"From '10u' War God to a $1.2 Billion Contract Whale: James Wynn's Wild Gambling Journey"

James Wynn, from a "10U War God" who earned over $50 million on PEPE, has transformed into a contract whale operating over $1.2 billion on Hyperliquid, influencing market sentiment through high-leverage trading and social impact. He was once questioned by the community for liquidating his positions based on calls, and now he appears more like someone gambling on short-term trends with a massive capital base. He is both a focal point of the market and on the brink of liquidation risk at any time. His rise combines timing, courage, and powerful rhetoric, but whether he can become a true perennial figure in crypto remains to be seen.

"From Ex-Microsoft Employee to 'ICM Concept,' Why did Collaterize Surge 10x in One Month?"

The "Internet Capital Market (ICM)" is gradually replacing the "On-chain Nasdaq" as the core narrative of Solana, aiming to allow global users to directly finance and invest on-chain, bypassing traditional IPOs and venture capital processes. The RWA project Collaterize, as an extension representing this concept, has emerged under Solana's co-creation and foundation support, innovatively introducing a dynamic bond curve to support on-chain real-world assets such as real estate. However, it also faces a dual dilemma of crypto-native user skepticism and traditional users' mistrust of on-chain assets. Despite the current low on-chain activity, the path it is exploring, which balances compliance and openness, is exploring a possible route for the $75 trillion traditional assets to go on-chain.

"Behind Trump's $25 Billion Bitcoin Treasury Plan, is crypto.com the 'Biggest Winner'?"

TMTG announced a $25 billion private placement to establish a Bitcoin treasury, causing a market sensation. This plan will integrate Bitcoin into its corporate reserves and is seen as a significant move by Trump to extend the "America First" ideology to the digital asset field. Despite the company's weak financial foundation and questionable profitability, TMTG is following in MicroStrategy's footsteps to bet on Bitcoin, aiming to enhance its valuation, fight financial discrimination, and lay the groundwork for the future development of its Truth Social platform. This plan is not just about corporate transformation but also a political and crypto-economic integration experiment driven by the Trump family and allies like crypto.com.

"Someone went from 3000 to A8? How to participate in Hyperliquid's Wealth Effect?"

The Hyperliquid ecosystem continues to unleash the wealth effect following the $JELLYJELLY event. In addition to the platform token $HYPE and the celebrity effect of James Wynn, the underlying L1 network HyperEVM is emerging as a new opportunity hub. Several native assets such as $PURR, $BUDDY, $HFUN, among others, are seeing their market values rise. Meanwhile, within the ecosystem, DEXs, lending platforms, and a transaction scoring system are gradually rolling out airdrop expectations, providing users with multiple incentive paths to participate in interactions, asset allocation, and airdrop farming. This has created a rapidly growing new territory that combines Meme culture, NFTs, and DeFi.

"The 'Bitcoin Reserve Company's' Venomous Leverage: A Sooner or Later Collapsing Financial Ponzi Celebration?"

Bitcoin reserve companies like MSTR have been raising funds through continuous issuance of new stocks, bonds, and other means to buy BTC, establishing a "flywheel" mechanism dependent on market sentiment. In reality, this is a high-leverage game of diluting shareholders to achieve short-term asset inflation. If the mNAV (market value-to-Bitcoin asset value ratio) falls below a critical level, this model will face the risk of funding collapse and debt repayment difficulties, resembling a Ponzi-like cycle. This kind of financial engineering disguised as Bitcoin goes against the original intention of Bitcoin's creation and even replicates the leveraged frenzy before the 2008 crisis.

"Conversation with Pima: How Can You Make Money Investing in Memecoins?"

Behind Solana's newly emerged large-scale Meme project $Slerf lies a cloud of suspicion. Its deployer claims to have "accidentally deleted the token," raising community doubts about whether this was a deliberate manipulation. On-chain data shows that the project's deployer has close ties to multiple Meme coin projects, including $jeo, $blow, $bonk, and frequently interacts with key wallets around the minting process, indicating the maneuvering hand controlling multiple projects. Community investigations further indicate significant overlaps between multiple project token distribution addresses, high-frequency trading accounts, and liquidity providers, suggesting that these popular Meme projects are orchestrated by a few and manipulate market sentiment through "scripted hype." Such behavior may have created a highly centralized Meme coin ecosystem, and investors should be wary of behind-the-scenes manipulation and fund rotation risks.

"Stablecoin APY 26%, HyperEVM's 'Hidden Gold Mine'"

This article explores the opportunity of stablecoin yield on HyperEVM, pointing out that after the mainnet Alpha version went live, the lending protocol and DEX ecosystem experienced rapid growth, with TVL reaching billions of dollars. Despite stablecoins like feUSD and USDT0 attracting some liquidity, they still cannot meet Hyperliquid's leverage demand, providing stablecoin lenders with an annualized yield opportunity of 8-26%, far exceeding platforms like Ethereum at 3-5%. By bridging USDe or USDT0 to HyperEVM, users can achieve high yield through lending or providing liquidity, while also paying attention to risks such as smart contract security and collateral quality.

"The First IAO Project Loud that Flooded Twitter, Is It Actually an Evolution of a Conspiracy Group?"

The first IAO project Loud that went viral across the internet has a complex web of relationships behind it. The key figures, ultra and WenMoon, come from JonesDAO and KaitoAI, respectively. Their previous connections make the IAO operation full of traces of vested interests. While the token allocation seems public, in reality, the "community incentive" serves as a channel for insider trading. Solana infrastructure Holoworld and Meteora act as the launch and trading platform, leveraging an attention flywheel mechanism to accurately attract funds. The whitelist, seemingly open to everyone, actually has a history of insider control, making Loud highly likely to become a new type of "conspiracy group evolution" harvesting machine.

"Investors in Pump.fun Created a 'PVP New Trench,' Surging 200x in 6 Hours"

Trenches is a brand-new project centered around crypto live streaming, launched by 6MV partner and Pumpfun investor Carl Vogel, sparking discussions in the Solana community. The project's token quickly rose to a market value of tens of millions of dollars after 9 days of silence, backed by a powerful lineup of guests and Carl's entrepreneurial background, seen as a pilot project for the Pump live streaming ecosystem. Despite apparent on-chain wash trading and Carl calling it an "experimental project," its narrative potential and post-live market attention are still favored by some KOLs.

"Interpreting Six Key Metrics: What Will Bitcoin's Price Reach by the End of This Year?"

By analyzing multiple indicators such as MVRV Z-Score, Energy Value Oscillator, and Bitcoin Heater, it is found that the current Bitcoin price has not entered the extreme valuation area at the end of the cycle. Various indicators indicate that the market still has significant upside potential. The market sentiment is moderately positive but not overheated. It is expected that by the end of 2025, BTC may reach a range of $210,000 to $230,000, at which point it may touch the true cycle peak.

"Ethereum Gas Fees Are Cheap, What Core Problem is L2 Solving?"

After Ethereum mainnet Gas dropped to a five-year low, many projects are reconsidering the feasibility of deploying on L1, and the core value of L2 is once again questioned. In fact, L2 still aims to solve the "blockchain trilemma" of scalability by ensuring security through on-chain state, decentralized ordering to resist monopolies, and off-chain execution to enhance performance. The Based Rollup model introduced by Taiko brings innovative structure, allowing Ethereum L1 to take on the ordering function, fundamentally weakening the power of L2 sequencers, achieving resource reuse and system synergy, and is about to further introduce the "Based Booster Rollup" to expand the concept.

"RWA Is Not Just Financing: Have You Been Led Astray by the 'RWA Gatekeepers'?"

The RWA market in Hong Kong has rapidly expanded in a passive ripening and "financing-centric" bias, forming a structural bubble. The real value should lie in the systemic restructuring of enterprise digital transformation and asset globalization strategies. Financing is just the tip of the iceberg, the key is to build an open asset pool, multi-layer fund structure, and standardized service ecosystem, promoting RWA from a single-point attempt to a replicable industrial upgrade path, and guiding enterprises from tactical operations to long-term strategic planning.

"Which Global Companies 'Bought the Dip' in Bitcoin in May?"

In May 2025, global enterprises set off a wave of Bitcoin investment frenzy. Several companies entered the market with innovative financing methods and bold investment scales, including the cautious exploration by the Swedish health technology company H100, the high-profile layout by Chinese clothing logistics company DDC and textile company Addentax, the profit reinvestment model of Indonesian fintech company DigiAsia, and the Singapore medical group Basel's mimic of MicroStrategy's large-scale purchase plan. Behind this wave of enthusiasm, factors such as macroeconomic uncertainty, MicroStrategy's success story, regulatory environment improvement, and market speculative sentiment have all contributed. Wall Street's renowned investor Jim Chanos' arbitrage strategy on MicroStrategy highlights the speculative risk behind this trend and reminds the market to be aware of the delicate balance between rationality and fervor.

"The Rise of 'Mouth Airdrop': What Is Web3's New Concept InfoFi?"

The popularity of "mouth airdrop" marks the paradigm shift of Web3 from "interaction airdrop" to "information airdrop," giving birth to InfoFi (Information Finance). It is based on a triple logic: considering information as the source of value creation, binding identity with social influence, and deeply coupling narrative timing with capital release. Users establish consensus through viewpoint output and social propagation, becoming creators of new assets. Under this structure, attention is financialized, expression becomes a productive behavior, and information itself transforms into a distributable asset. In the future, content creators, organizers, and distributors will form an "Info DAO" through collaboration, shaping liquidity and value distribution rules through structured narratives. The "mouth" is transitioning from a mining machine to an industrial infrastructure.

"In Conversation with Dr. Xiao Feng (Part 1): USDC Legislation Is a Victory of Technological Innovation, But the Impact Will Be Very Complex"

Both the United States and Hong Kong have been advancing stablecoin legislation, signaling that the global financial system is entering a major transformation driven by technology. Stablecoins have become a strategic tool for the US dollar, not only to strengthen its global dominance but also because blockchain technology offers unparalleled payment settlement efficiency. Dr. Xiao Feng points out that the core of stablecoin breakthrough lies in technological advantages rather than conspiracy theories, posing profound challenges to the global sovereign currency system, financial regulation, and even monetary issuance rights. In the face of this trend, the correct response is not resistance but open and compliant development of local stablecoin ecosystems, actively participating in the construction of the new digital economic order.

"In Conversation with Dr. Xiao Feng (Part 2): The Chinese Community Will Surely Become the Main Player in RWA Innovation, But Must Not Walk the Old Path in New Shoes"

With the passage of the US dollar and Hong Kong dollar stablecoin bills, the stablecoin economy and Real World Assets (RWA) will experience explosive growth, and entrepreneurs must seize the opportunity to enter the market. The stablecoin economy will serve as a bridge for blockchain technology to bridge the application gap, enabling a large number of real-world assets to go on-chain. However, it must be clear that RWAs should not be merely a speculative tool but should start from high-level, standardized assets. Currently, the best entry point for Chinese enterprises in the stablecoin economy is to go global, earn stablecoins through cross-border e-commerce models, and then gradually establish a layout of high-quality RWAs based on this foundation. The gradual clarity of the regulatory environment and the establishment of order will drive the industry from speculation to practical applications. Chinese entrepreneurs, with technological advantages and market experience, are expected to take a central position in the future stablecoin economy and RWA field.

"WSJ: Uncovering How the Witkoff Father and Son Built a Crypto Empire for Trump?"

After the Trump administration took office, its close ally Steve Witkoff and his son Zach Witkoff quickly rose with the crypto company World Liberty Financial. Through frequent intense interactions and massive transactions with countries such as the UAE and Pakistan, private business became tightly intertwined with government diplomatic affairs. Leveraging his father's government role and the Trump family's influence, Zach propelled the stablecoin USD1 issued by World Liberty to rapid expansion. The company not only promoted a $2 billion cryptocurrency transaction with the UAE royal family through a Middle East envoy role but also actively engaged in a rare earth mineral project in Pakistan, expanding its influence through blockchain technology. Although the company claimed that its business activities were unrelated to government affairs, the close ties among top executives have drawn close attention from regulatory agencies and Democratic lawmakers, raising questions and scrutiny about the compliance of related transactions and interactions.

"$110,000 Tug of War: Whales Liquidation Behind $158.6 Million, Four Hidden Catalysts Revealing Mysteries"

After reaching a peak of $110,000, Bitcoin experienced a pullback. Whale James Wynn suffered losses from closing short positions, leading to the liquidation of over $200 million. However, the spot ETF continued to attract strong inflows, with Bitcoin and Ethereum together attracting over $45 billion in net inflows. The Bitcoin 2025 conference is about to be held, with several political and business dignitaries attending, potentially triggering market catalysts again. FTX will initiate a second round of repayments exceeding $5 billion on May 30, potentially increasing market liquidity. Both the easing signals of the US-China and EU-US trade wars constitute short-term macroeconomic positives, providing support for Bitcoin's price floor and rebound.

"40x Returns in 1 Month, How Did the Young Investors Seize the $LABUBU Opportunity? | 100x Retrospective"

LABUBU is a meme token issued on the Solana blockchain, leveraging the global popularity and celebrity effect of the POP MART's hot IP "Labubu." After two explosive surges following its launch, its market value peaked at nearly $50 million. It benefited from strong support from the Southeast Asian market and the continuous rise in the prices of Pop Mart, as well as the steadfast holdings and successful arbitrage by multiple "whale" investors. Labubu's skyrocketing once again validates the synergistic dissemination power between cultural IP and meme tokens, also prompting investors to be cautious about short-term speculative risks and price corrections.

《Virtuals Ecosystem Booms: Comprehensive Review of Community's Most Promising Projects》

In recent times, the Virtuals market cap has rebounded, showing frequent dynamics, and the AI agent market has warmed up. This article provides a comprehensive review of Virtuals-related projects that have performed well, including those with significant growth and potential alpha, such as AInalyst, AXR, VIRGEN, Magnus, Kosher Capital, Neurodex, Solace, Agent YP, Gigabrain, MusicByVirtuals, DappLooker, Signal V2, VIRGEN, BasisOS, and more.

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