BlockBeats will compile key industry news content for the week in this article (6.2-6.8) and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Recap

Musk and Trump Engage in War of Words, Tesla and Trump Media/Tech Groups See Sharp Stock Declines

On June 2, Musk stated in an interview that he was frustrated with the tens of trillions of dollars in tax cuts and spending plans currently being discussed by the Congressional Republicans, believing that this legislation would disrupt the work being done by the government efficiency team. On the 5th, U.S. House Speaker Mike Johnson expressed dissatisfaction with Trump's 180-degree turn on Musk and attempted to call Musk but was unable to reach him. On the 6th, Musk suddenly made several posts ridiculing and questioning Trump, stating that Trump would lose the election without him and retweeting a "Trump Should Be Impeached" tweet. Trump expressed being "very disappointed" in Musk. Musk then made a bombshell revelation, stating that Trump appeared in Epstein's documents. As a result of this event, Tesla's stock price fell over 14% that day, causing a $153 billion drop in market value, marking the largest single-day market value decline in history. Musk's net worth also dropped by over $19.5 billion. Moreover, Trump Media and Tech Group's stock price fell by 7.82%. Related reads: "Musk Turns the Tables, Crypto Inner Circle Divided, Trump's Backyard on Fire", "Trump and Musk Epic Showdown, President Strikes First", "Who Will Mediate Between Trump and Musk?", "In-Depth Review of Trump and Musk's 'Love-Hate' Drama", "Just Broke Up and Already Feuding? Musk Slams Trump's 'Beautiful Bill': Disgusting"

USDC Issuer Circle Officially Lists on NYSE, First-day Trading Volume Exceeds $3.9 Billion

On June 5, USDC issuer Circle officially began trading on the New York Stock Exchange (NYSE). It completed its IPO at $31 per share, oversubscribed by over 25 times, raising $1.1 billion and reaching a valuation of $6.2 billion. Circle's stock price rose by 168.48% on its first day of trading, closing at $83.23, with a trading volume of 47.109 million shares, equivalent to around $3.941 billion. Its CEO, Jeremy Allaire, stated, "Our mission is to enhance global economic growth through frictionless value exchange, a significant milestone in the irreversible fusion of the global economic system and the internet's development." Arthur Hayes commented that the next few years will see a wave of crypto IPOs, with a blockbuster IPO similar to EOS as the climax. Note: Circle's USDC is the second largest USD stablecoin, and its listing coincides with U.S. lawmakers pushing for stablecoin regulatory legislation. Related reads: "From Bearish to Oversubscribed by 25x, The Great Reversal of Circle's IPO", "'First Stablecoin Stock' Founder: How I Went All in on Stablecoins 7 Years Ago", "Circle IPO Soars 400%, Why I'm All In on $CRCL?", "Circle IPO Roadshow PPT: IDG and Accel Are Shareholders, $1.676 Billion in Annual Revenue", "Circle Almost Listed, What Are the Tradable Assets?", "Circle Strong Listing, Trading Halted Twice, Who Are the Beneficiaries?"

Ethereum Foundation Reduces Staff Due to R&D Team Restructuring

On June 3, the Ethereum Foundation announced a reduction in staff and the restructuring of its research and development team, renaming the department to "Protocol" to focus on the core challenges of protocol design. This adjustment aims to address ongoing community criticism of the Foundation's management and strategic direction. Some voices have warned that failing to address key technical issues could threaten Ethereum's position as an industry technical leader. The Foundation stated that the restructured Protocol team will work on three key priorities: scaling Ethereum's underlying network, advancing blob space extension in the data availability strategy, and improving user experience. The Foundation mentioned in the announcement that "some of the research team members will no longer continue," and encouraged other teams to absorb these talents. The number of layoffs was not disclosed.

Lee Jae-myung Officially Elected President of South Korea

On June 3, according to a South Korean TV station report on the 3rd, Democratic Party candidate Lee Jae-myung was officially elected President of South Korea. Prior to this, Lee Jae-myung had promised to promote the approval of a cryptocurrency spot ETF and proposed issuing a stablecoin based on the Korean won. Related Readings: "Three Things Lee Jae-myung, the New President of Korea, Will Do in the Crypto Circle", "Analysis: Four Major Changes the Crypto Market May See After the Korean Presidential Election", "Will Upbit's Regulatory Penalties End? What Election Promises Does the New South Korean President Lee Jae-myung Have?"

Singapore Financial Regulatory Authority to Ban Unlicensed Overseas Crypto Services

On June 2, according to Decrypt, starting from June 30, all overseas cryptocurrency firms providing services to Singaporean customers must be licensed; otherwise, they must cease operations as the Monetary Authority of Singapore (MAS) is ramping up efforts to combat financial crime risks. MAS has confirmed the full implementation of Section 137 of the Financial Services and Markets Act (FSMA) from the end of June. This provision empowers the regulatory authority to oversee digital token service providers (DTSPs) operating in Singapore. The regulation also applies to those companies that, while only serving overseas users, are registered in Singapore or employ Singaporean staff. Related Readings: "When Singapore Starts Chasing Away Crypto People", "Explaining Singapore's Cryptocurrency New Rules: Why So Strict? Who Will Be Driven Away? Will It Trigger a Mass Exodus?"

US M2 Money Supply Reaches $21.86 Trillion, Reaching an All-Time High

On June 5, it was reported that the US M2 money supply has reached $21.86 trillion, hitting a historical high. Previously, analysts have suggested that the continued growth of the global M2 money supply could trigger a significant rise in Bitcoin.

Meitu's CEO Responds to the Company's "Bitcoin Buying Past": Sold All Holdings, Profited $570 Million, 80% Distributed to Shareholders

On June 3, according to a report by LatePost, Meitu's CEO, Cai Wensheng, stated, "The company's previous blind diversification strategy was mostly led by me, not by Cai Wensheng. I don't want to comment further on Meitu's Bitcoin purchases as it is now in the past. In terms of results, it was indeed a good investment. By the end of last year, Meitu sold all the cryptocurrencies it held, making a profit of $570 million, of which 80% was distributed to shareholders." He also mentioned that if he could go back in time, he might prefer to take that money to find some good teams for business synergy. He noted, "Sometimes even though the performance has clearly improved, if it coincides with a big drop in Bitcoin, the stock price immediately drops, whereas when Bitcoin rises, the stock price doesn't necessarily follow suit."

Robinhood Completes $200 Million Acquisition of Bitstamp

On June 3, Robinhood completed a $200 million cash acquisition of the Luxembourg-based cryptocurrency exchange Bitstamp, adding over 50 licenses and registrations to its cryptocurrency division, as well as a mature institutional customer base. Bitstamp serves over 5,000 institutional clients and 50,000 retail customers, with its trading volume primarily being driven by institutional clients. In a statement, Robinhood mentioned that this acquisition significantly expands its cryptocurrency business in markets outside the US, including Europe, the UK, and Asia.

Magic Eden Announces Wallet Development Collaboration with TRUMP Meme, Contradicted by Trump Family Member

On June 4, information on the TRUMP Wallet official website indicated that Magic Eden would collaborate with the TRUMP Meme official to jointly develop the TRUMP cryptocurrency wallet. In response to this news, ME surged over 29% in 24 hours. Subsequently, Donald Trump Jr., co-founder of WLFI, Eric Trump, and the youngest son Byron Trump all debunked the collaboration, stating that the newly launched TRUMP wallet in the market has no affiliation with the Trump Group, as WLFI will release an official wallet. Eric Trump further mentioned that the Trump family will take legal action regarding the launch of the "official TRUMP wallet." On the same day, Magic Eden responded, confirming that the application is indeed the official TRUMP wallet, utilizing 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, who now seem to be competing against each other. Related articles: "Magic Eden Announces High-Profile Collaboration with TRUMP Wallet, Immediately Contradicted by Trump's Eldest Son", "Within Trump's Crypto Empire, Which 'Factions' Exist?"

CZ: Now May Be a Good Time to Launch a Darkpool Perpetual DEX

On June 2nd, Binance founder CZ wrote on X, suggesting that now may be a good time to launch a dark pool perpetual decentralized exchange (DEX). "For perpetual contracts (or futures), it is more important not to let others know/see your order. 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 still join forces to attack you. This may be what we have seen recently." "Either do not show the order book, or better yet, do not show the smart contract's deposit at all, or show it much later. This should be achievable through zero-knowledge proof or similar encryption technologies." Related Reading: "Contract Track Breakthrough: What Is the 'Darkpool DEX' Advocated by CZ?", "James Wynn's Liquidation Revelation, What Opportunities Does CZ's 'Darkpool Perp DEX' Advocate?"

Whale James Wynn Suffers Heavy Losses This Week Exceeding $13 Million, But Vows to Rebuild by Sweeping Small Assets in Old Wallets

On June 6th, Whale James Wynn admitted in a post that his 40x long on Bitcoin had failed, using limit orders to close positions during continuous forced liquidations, and he now holds no long positions. "I closed my position, admitting defeat. The evil market maker defeated Wynn 1 to 0." His HyperLiquid account has suffered a contract loss of approximately $1.655 million in the past 24 hours, a loss of approximately $13.465 million in the past 7 days, a loss of approximately $28.06 million in the past 30 days, and a total loss of approximately $21.79 million. He later reflected on his journey, admitting that he realized he had lost control, essentially engaging in gambling. He wanted to recover his losses but also feared being ridiculed for "not being able to keep $100 million," so he kept digging himself deeper. However, just one hour later, he posted on social media that he would sweep some small assets in old wallets over the next few days to see if he could find any usable assets. If not, he would not return empty-handed. Previously, he had repeatedly initiated fundraising to seek liquidation funding. Related Reading: "Who Is Directing James Wynn's Liquidation?", "Following the Old Path, James Wynn's Insufficient Gambling Funds 'Online Begging'"

Ripple CEO Says Never Pursued Acquisition of Circle

On June 4, according to The Block, Ripple CEO Brad Garlinghouse revealed during a conversation with Chris Brummer, a professor at Georgetown Law School, that Ripple never sought to acquire Circle. This statement refuted recent reports claiming that the crypto giant had bid $40 to $50 billion in an attempt to bring the stablecoin issuer under its wing.

Kraken Begins Distributing Funds to FTX Creditors This Week

On June 2, a representative for FTX creditors named Sunil announced on social media that "FTX creditors have received their allocation from FTX in their Kraken accounts." Previously, FTX had initiated the second round of over $5 billion repayments, and eligible creditors were set to receive their funds within 1 to 3 business days.

TRUMP Official Airdrops TRUMP NFT to All Dinner Rankings Registry Users

On June 3, the TRUMP Meme official announced that they had airdropped TRUMP NFTs to users who participated in the "Dine with Trump" event. These NFTs, based on the Solana blockchain, are collectibles commemorating the "Crypto President." Three different NFTs were distributed this time, requiring users to meet one of the following conditions: successfully registered for the dinner event, ranked in the top 220, or continued to hold during the dinner (Diamond Hands).

Binance Alpha continues its airdrop and TGE progress this week; meanwhile, the Alpha Points risk control system has been upgraded, and the use of bots will be considered a violation:

June 2

· Points ≥210 can claim 424 SQD (Subsquid) airdrop;

· Points ≥223 can claim 1111 EDGEN airdrop.

June 3

· Points ≥213 can claim 900 BDXN (Bondex) airdrop;

· Points ≥211 can claim 2666 ZRC (Zircuit) airdrop.

June 4: Points ≥215 can claim 160 LA (Lagrange) airdrop.

June 5: Points ≥210 can participate in CUDIS TGE. All activities require 15 points.

On June 4, Binance issued a notice of Alpha Points bot violation, stating, "Recently, certain groups have been detected using bots to participate in Alpha activities, undermining the fairness of the Binance Alpha Points project. To address this, Binance has upgraded its risk control system to enhance the detection and handling of such behavior. Any use of bots — including but not limited to scripts, automation tools, or other non-manual methods — will be considered a violation. Binance reserves the right to revoke Binance Alpha Points eligibility for accounts participating in such activities and impose further restrictions as necessary."

Ethereum Co-founder: Actively Discussing Constructive Cooperation Based on Ethereum with a "Major Country's" Sovereign Wealth Fund

On June 4, according to Decrypt, Ethereum co-founder and Consensys CEO Joe Lubin stated on Tuesday that his company is in negotiations with a "very powerful" country's "major sovereign wealth fund and bank" for potential development based on Ethereum. In the latest episode of Rug Radio's "Fomo Hour," Lubin delved into the crypto market's second-largest asset, Ethereum, and predicted that a new decentralized supercycle driven by ETH may be on the horizon.

Insider: pump.fun Plans $1 Billion Token Sale at $4 Billion Valuation

On June 4, according to reports, insiders revealed that pump.fun plans to raise $1 billion through a token sale. The insiders stated that the valuation of this token issuance would reach $4 billion, and the tokens will be sold to the public and private investors. It is currently unconfirmed when the tokens will go live or if they 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 space. pump.fun has not responded to multiple requests for comment."A $4 Billion Valuation Token Offering, Is Pump.fun the Savior or Liquidity Killer of the Market?", "Pump.fun Is Releasing Tokens, How Does the Community Perceive It?"

JPMorgan Plans to Allow Customers to Use Bitcoin ETF as Loan Collateral

On June 4, according to Bloomberg, Wall Street giant JPMorgan plans to allow its customers to use holdings of Bitcoin ETF stocks like the BNY Mellon iShares Bitcoin Trust as loan collateral. Insiders revealed to Bloomberg that the bank will also begin considering cryptocurrency holdings in the assessment of client net worth and liquid assets. This implies that cryptocurrency will be treated on par with real estate and cars in assessing a client's loan repayment capability.

Web3 Security Company Salus Claims Chinese Law Enforcement has Uncovered 3 Money Laundering Cases Using HyperLiquid; Faces Community Scrutiny

On June 6, Web3 security company Salus founder Mirror Tang (@mirrorzk) stated on social media that since March this year, Chinese law enforcement has uncovered 3 cases of cryptocurrency money laundering using HyperLiquid. The modus operandi involved exploiting Hyperliquid's high-leverage liquidation mechanism to net wash illicit gains, causing liquidation losses on HyperLiquid, and simultaneously profiting from a reverse position on centralized exchanges to launder funds. Salus will publish a research article in the future formally disclosing this information obtained through cooperation with law enforcement agencies. Mirror Tang also pointed out that this strategy structure bears a striking resemblance to the operational path of whale James Wynn, who recently opened high leverage contracts, eventually withdrawing a $100 million profit. However, his statement has faced community scrutiny, with some claiming that he has not provided any evidence to substantiate the claim, suggesting it may be an attack on HYPE.

Binance to Launch Spot Shitcoin Liquidity Improvement Plan

On June 4, Binance announced the launch of the Spot Shitcoin Liquidity Improvement Plan to enhance the liquidity and trading efficiency of specific token trading pairs in the spot market. The plan aims to provide users with smaller spreads, lower slippage, and an overall better trading experience to support small and medium-sized liquidity providers focusing on token market-making. The Token Liquidity Improvement Plan offers a 1 basis point rebate to small-scale market makers and will initially support 18 tokens, with the qualification audit period of the new plan starting from June 9, 2025, 00:00 (UTC).

WLFI Airdrops 47 USD1 to Participating Token Subscription Addresses

On June 4, according to on-chain analyst Ai Yi's monitoring, WLFI airdropped 47 USD1 to all its token subscribers' addresses directly to their Ethereum addresses. It is noteworthy that Donald Trump is the 47th President of the United States.

Musk's XAI Company Engages in a $3 Billion Stock Sale Transaction

On June 3, according to the Financial Times, Musk's XAI company is undergoing a $3 billion stock sale transaction, valuing the company at $113 billion. Related Read: "Musk's Business Empire Reboots: xAI Raises $3 Billion+ $50 Billion in Debt, Neuralink Raises Another $6.5 Billion"

U.S. Senator: Will Introduce "GENIUS Act" Amendment to Stop Trump Family's Cryptocurrency Wallet Launch

On June 4, U.S. Senator Elizabeth Warren posted on social media, stating that the Republicans slipped a cryptocurrency wallet exemption clause into the "GENIUS Act" at the last minute, and now the Trump family is planning to launch a cryptocurrency wallet. She will introduce an amendment to close this loophole, and the bill will not pass without serious anti-corruption measures.

Trump's Social Media Platform Truth Social Submits Bitcoin ETF Application

On June 4, documents show that Trump's social media platform Truth Social has submitted a Bitcoin ETF application.

Data: Nearly 45% of VC-Backed Crypto Projects Have Ceased Operations

On June 4, according to Bitcoin.com, research data shows that nearly 45% of VC-backed crypto projects have ceased operations, with 77% of projects generating monthly revenues of less than $1,000. The study covered 1,181 projects funded from January 1, 2023, to December 31, 2024. The report indicates that among top VC firms, projects backed by Polychain Capital have the highest failure rate, with 44% of projects ceasing operations, and over three-quarters of projects failing to generate significant revenue. Other top VC firms such as Yzi Labs (72%), Circle (38%), Delphi Ventures (33%), and Consensys (30%) similarly face high project failure rates. The research found that the amount of funding significantly impacts project success rates, with projects raising over $50 million having a lower failure rate, while over 33% of projects with less than $5 million in funding ultimately fail or cease operations.

Data: Over 60% of Frequent Traders on pump.fun in the Past Six Months Are in Loss, 311 Addresses Made Over $1 Million

On June 5th, according to Dune Analytics, in the past 6 months, out of approximately 4.257 million addresses that have conducted over 10 token trades on pump.fun, over 60% are in a state of loss. Around 2.408 million addresses (56.6%) are in a loss ranging from $0 to $1000, around 1700 addresses are in a loss exceeding $100,000, with 46 addresses losing over $1 million. Among addresses in a profitable state, the highest number falls within the $0 to $1000 profit range, reaching 916,500 addresses (21.5%). Furthermore, there are over 5000 addresses profiting over $100,000, with 311 addresses profiting over $1 million.

K Wave Media Plans to Issue Up to $500 Million in Common Stock to Support Bitcoin Strategic Reserve, Aims to Become the "Korean Version of Metaplanet"

On June 4th, it was reported that the first-ever Korean media alliance on Nasdaq, K Wave Media Inc., has 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-focused digital asset reserve strategy, operational capital, and mergers and acquisitions, further expanding its content production and K-POP-related businesses. Additionally, the company plans to operate Bitcoin Lightning Network nodes and invest in Bitcoin's native infrastructure to enhance decentralization and acquire on-chain transaction rewards. The official statement mentioned that K Wave aims to become the "Korean version of Metaplanet"—citing the case of the Japanese company Metaplanet, which became the best-performing global stock in 2024 after adopting a Bitcoin reserve strategy, leading continuously in 2025.

Spanish Coffee Chain Brand Vanadi Plans to Invest €1 Billion to Establish Bitcoin Reserve

On June 4th, it was reported that the Spanish coffee chain brand Vanadi is planning to invest over $1.1 billion to purchase Bitcoin as part of its new reserve strategy. This is one of the growing trends among top corporate executives worldwide. The company does not intend to use Bitcoin to supplement its income but rather aims to fully transition into a Bitcoin-centric enterprise. After experiencing losses in 2024, Chairman Salvador Martí is now betting on the Web3 sector. Martí's plan mirrors MicroStrategy in multiple aspects. Similar to Michael Saylor, Martí plans to fund Bitcoin purchases through a large issuance of Vanadi stocks. He has made his initial purchase: about two weeks ago, he bought 5 Bitcoins for around $500,000.

Beijing Police Establish New Mechanism for Handling Virtual Currency Involved in Cases, Including in "Physical Handover" Category

On June 5, according to the Beijing Public Security Legal Affairs WeChat account, the Beijing Municipal Public Security Bureau Legal Affairs General Team and the Beijing Property Rights Exchange have established a cooperation mechanism for handling virtual currency involved in cases, jointly signing the "Framework Agreement for Cooperation in Handling Virtual Currency Involved in Cases," including involving virtual currency in the "physical handover" category. The article stated that the Municipal Bureau Legal Affairs General Team and the Beijing Property Rights Exchange further expanded their cooperation in the handling field. They conducted full research and verification on this special property involved in cases from the perspective of policies, regulations, and operational pathways, exploring a new channel for overseas disposal. That is, the public security organ entrusts the physical form of the virtual currency involved in a case to the Beijing Property Rights Exchange for disposal. After accepting the entrustment from the public security organ, the Beijing Property Rights Exchange selects a professional service organization to carry out operations such as detection, receipt, and handover of the virtual currency involved in the case. Through a compliant licensed exchange in Hong Kong, it is openly liquidated for sale. After completing the national foreign exchange management approval procedures, the foreign exchange proceeds are transferred to the public security organ's dedicated account for funds involved in the case and handed over to the national treasury. Currently, this model has been successfully applied to dispose of virtual currency involved in a case handled by the Shunyi Public Security Sub-Bureau.

Chinese Wuhan Police Raid Virtual Currency Investment Scam Hideout, Arrest 32 Suspects

On June 3, according to Guangming Net, the East-West Lake police in Wuhan raided a scam hideout hidden in a rural area, arresting 32 criminal suspects, of which 20 have been criminally detained. The gang impersonated "wealthy women" to engage in online dating, flaunting their gains from virtual currency investments, luring victims to invest in virtual currency on a false platform, creating a controllable illusion of "high returns" that, in reality, cannot be withdrawn, with the funds ultimately flowing into the scammer's accounts.

This Week's Large Financings: SharpLink Gaming, Scalable Capital, Rails, OneKey, BitMine

On June 2, according to official sources, SharpLink Gaming completed a $425 million private financing round with Consensys leading, intending to use the proceeds to purchase ETH and hold it as its primary treasury reserve asset.

On the 3rd, AI-driven portfolio management tool service provider Scalable Capital announced the completion of a €155 million financing round, co-led by Sofina and Noteus Partners, with participation from Balderton Capital, Tencent, and HV Capital. Scalable Capital's total financing amount has now exceeded €470 million.

On the 4th, according to reports, the cryptocurrency exchange platform Rails completed a $14 million financing round. This round of financing was participated in 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 day, the open-source hardware wallet project OneKey announced the completion of its Series B funding round, reaching a valuation of $1.5 billion. This round was led by YZi Labs and is their largest investment in the hardware wallet sector to date. Past supporters include top-tier venture capital firms such as Dragonfly, Ribbit Capital, Coinbase Ventures, and others.

On June 5th, Bitcoin mining company BitMine Immersion Technologies announced the completion of a $18 million initial public offering, issuing 2.25 million common shares at a price of $8 per share, and has been approved for listing on the New York Stock Exchange American.

This Week's Popular Articles

"Musk's Reversal, Crypto Inner Circle Division, Trump's Backyard on Fire"

A public conflict between Musk and Trump erupted on June 6th, leading to a public spat on X platform, causing a simultaneous drop in Tesla and TMTG stock prices. The dispute originated from Trump revoking the NASA director nomination and promoting the "Beautiful Act," which Musk strongly opposed, accusing Trump of ingratitude. Meanwhile, the Trump family's crypto empire also descended into chaos, with various factions accusing each other regarding the ownership and authorization of the "Trump Wallet," exposing a power struggle and conflicting interests behind projects such as $TRUMP token, NFTs, stablecoins, among others, as well as escalating internal family disputes over power and revenue distribution.

"From Bearish to 25x Oversubscribed, Circle's IPO Turnaround"

Just two months ago, Circle faced skepticism about its profitability and dwindling USDC market share, but now it has completed its IPO at a valuation of $69 billion with a share price of $31, oversubscribed by 25 times. This turnaround is attributed to a reevaluation of the stablecoin narrative and the catalyzing effect of regulatory dividends. The successive establishment of stablecoin regulatory frameworks in the U.S. and Hong Kong, coupled with endorsements from institutions like BlackRock and Ark, boosted market confidence. While Circle's earnings rely on interest income with a relatively low gross margin, benefiting in the short term from a high-interest environment and market recovery, the sustainability of its valuation still depends on fundamental performance. Circle's IPO is not only a victory for the project itself but also a significant milestone for the legitimization and capitalization of stablecoins.

"Founder of the 'First Stablecoin Stock': 7 Years Ago, How I Went All-In on Stablecoins"

Circle officially debuts on the NYSE, becoming another US stock-listed crypto native giant after Coinbase, marking the establishment of the stablecoin narrative in the capital market. Its founder, Jeremy Allaire, transitioned from an Internet 1.0 "shovel seller" to a cryptocurrency pioneer, leading Circle to bet heavily on USDC during the crypto winter. They have been building a compliant and transparent reserve system, promoting the global expansion of stablecoin infrastructure. Today, amid a clearer global regulatory environment and with giants like Visa embracing USDC, Circle's US dollar stablecoin is accelerating its move towards real-world payments and the core of the financial system. Allaire firmly believes that stablecoins are the true electronic cash of the Internet era, with the potential to reshape 10% of the global monetary system in the next decade.

"In a Rush for Pump.fun, New Launchpads Experience 'Cultural Undercurrents'"

A new generation of Launchpad platforms, with Pumpfun as a representative, is reshaping the asset issuance logic of the crypto market. Stemming from the Meme craze, the "instant issuance and speculation" tool has evolved into a new paradigm covering belief investing, anti-rug mechanisms, social identity securitization, and on-chain transparent distribution. While the overall market liquidity has not significantly increased, new launchers are emerging rapidly, leading to intense competition. Innovative projects like Cooking.City, Long, Ego, and Gavel are emerging on the Solana chain, attempting to rebuild trust in the issuance mechanism. However, as meme coins proliferate and the graduation rate plummets, the market's aversion and reliance on Pumpfun coexist, making asset-to-attention conversion the core logic of this new cycle.

"South Korea's New President Lee Jae-myung, Aims to Do Three Things in the Crypto Industry"

Lee Jae-myung's election as South Korea's president signifies a systemic turning point in the country's crypto policy. He has proposed promoting a Korean won stablecoin, supporting the legalization of spot crypto ETFs, and advocating for pension funds to allocate to crypto assets while establishing a dedicated regulatory body. This victory is not only a personal political comeback but is also seen as the starting point for South Korea's digital assets to enter a new era of "nationalized governance." Despite facing stablecoin controversies and regulatory challenges, the South Korean government has shown a clear intention to integrate crypto assets into the national financial system, signaling a deep transformation from a period of unbridled growth to institutionalization and compliance.

"On Stablecoins, the Fed Figured It Out 3 Years Ago"

Circle is set to go public on the NYSE on June 5 under the stock code CRCL, with a planned fundraising of $624 million. The valuation target has been raised to $7.2 billion, and the oversubscription reached 25 times, demonstrating institutional enthusiasm for the stablecoin concept. With the Federal Reserve and governments around the world continuing their research on stablecoins, and the passage of the "GENIUS" Act and the Hong Kong "Stablecoin Regulation Draft," stablecoins are becoming one of the core asset classes of global financial systems. Federal Reserve research points out that stablecoins are expected to drive the tokenization of payment systems and financial markets, act as a digital safe haven in volatile markets, but may pose systemic challenges such as credit disintermediation if they adopt a narrow banking model supported by central bank reserves.

"The 'Bitcoin Conspiracy Theory' Going Viral Online: Tether Is Creating the Biggest Bubble in Financial History"

Recently, a Twitter post about Bitcoin and Tether sparked widespread discussion in the English community, garnering over 800,000 views on a single tweet. Author Jacob King, portraying himself as a staunch Bitcoin bear, pointed out in the article that the Bitcoin market is manipulated by "insiders" such as Tether and Bitfinex, maintaining a price illusion through false demand, wash trading, and endless printing of money. Jacob believes that the so-called "government and institutional entry" is a fabricated narrative, actually a Ponzi scheme, and once there is a liquidity crisis, the market will face a collapse.

"When Singapore Starts to Drive Out the Crypto Community"

The Monetary Authority of Singapore has struck a heavy blow, stipulating that all crypto service providers must cease serving foreign customers by June 30, 2025, if they do not have a DTSP license, causing shockwaves in the industry. Regulation has shifted from the past "clear line between domestic and foreign" to comprehensive coverage, closing the "regulatory arbitrage" channel, driven by anti-money laundering and reputational risks. Affected companies are considering relocating to Hong Kong, Malaysia, Dubai, and other locations, while licensed or exempted companies are benefiting. Singapore, once a crypto safe haven, is accelerating its departure from its role as a free port.

"With Bitcoin Dominance Holding Steady, Do Altcoins Still Have Room to Surge?"

Bitcoin continues to hit new all-time highs, attracting massive institutional buying and driving structural price appreciation. DeFi is accelerating the integration of AMM with the money market, enabling asset double-dipping and improving capital efficiency. Cross-chain liquidity layers are becoming more flat, enhancing user experience. Stablecoin yield competition is fierce, with institutions seeking higher returns. At the same time, points and identity verification airdrops are becoming a new method for user growth. The NFT market is weak, with more funds flowing into Memes with utility and reward mechanisms, gradually reshaping the ecosystem.

"Crypto AI Heat Rekindles, What Is the Market Speculating on Recently?"

More and more large models such as Gemini, Claude, and GPT are challenging games like "Pokemon," demonstrating breakthroughs in perception and action capabilities, and indicating that AI may soon overcome the challenge of "emotional intuition" in trading. Around the AI Agent and InfoFi fields, projects such as Axelrod, Arbusai, Avo, and BasisOS are emerging one after another, focusing on intelligent investment advice, real-time intelligence, trading strategies, and cross-chain arbitrage. The market value of related tokens has reached tens of millions of dollars at its highest, and the AI-driven on-chain trading ecosystem is rapidly taking shape.

"The Era of 'Mouth' Trading: A Comprehensive Inventory of InfoFi Targets"

InfoFi (Information Finance) is transforming information from platform by-products into core assets with price, incentivization, and tradability, initiating a profound 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 introduces an IAO mechanism based on influence distribution; GiveRep and Ethos build on-chain reputation standards; Wallchain, bam.fun, and Vly Wheel allocate revenue through real interaction and dissemination paths, collectively driving the establishment of "attention" as the economic focus. 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 World, How Do You Play Narrative Trading?"

The prediction market, through providing risk capital, transparent rules, and a real-time information aggregation mechanism, enables the market to accurately reflect the probability of a single verifiable event. Narrative trading, on the other hand, focuses on market sentiment and the momentum of stories, transforming constantly changing narrative content into tradable assets through tools like sentiment oracles. By combining the two, there is both a mechanism for protection and capital support, as well as a diverse range of content sources, driving the pricing, trading, and hedging of narrative assets in the crypto market and opening up new investment frontiers.

"From Attention to Monetization, How Does InfoFi Transform the Business of Coin Circle KOLs?"

In the era of the attention economy, attention itself holds value, but its value depends on factors such as retention, consensus, and content quality. Kaito, through products like Yaps, Earn, and Capital Launchpad, converts attention into users, capital, and market value. In the future, Kaito will break the information silo, build a more equitable InfoFi network, and achieve data sovereignty and universal monetization.

"a16z: The Era of Foundations is Ending"

As the regulatory environment shifts towards a focus on "control" rather than "development efforts," the crypto industry faces an opportunity for structural reshaping. The foundation architecture, long seen as a symbol of decentralization, has in reality exhibited incentive distortions, legal constraints, and operational inefficiencies, weakening a project's scalability and market responsiveness. In contrast, adopting a corporate structure is more conducive to capital allocation, talent incentives, and market feedback, while also maintaining alignment with token holders' long-term interests through programmatic contracts and incentive mechanisms. With new architectures like DUNA (Decentralized Unincorporated Non-profit Association) and BORG (Controlled Organization Tool), projects can retain the advantages of decentralization while achieving legal compliance, efficiency gains, and transparent governance, marking a transition in the crypto industry from foundations to a more sustainable collaborative system.

"RWA Public Chain Dark Horse, Unveiling Keeta Network's 'Triple High' Strategy"

Keeta Network is a high-performance L1 public chain that has not yet launched its mainnet, aiming to reconstruct the global payment system, emphasizing high compatibility with traditional financial systems (such as SWIFT, ACH), and featuring highlights like native tokenization, digital identity, and compliance support. The project claims to achieve millions of transactions per second, settlement within 400 milliseconds, and improved processing efficiency through a DAG architecture and mempool-less design. Its token $KTA has surged over 13 times since its March launch, backed by former Google CEO Schmidt and former Nano developers. Despite the compelling tech vision, potential risks such as the unreleased testnet and concentration of chips should not be overlooked.

"Japan's Version of 'MicroStrategy': Metaplanet Swaps Hotel Keys for Private Keys, Transforming Hotel Into Bitcoin Reserve"

The Japanese company Metaplanet, which originally operated a couple's hotel, successfully transformed into Asia's largest and the world's 11th largest Bitcoin-holding public company within a year through innovative methods such as warrants, zero-coupon bonds, and Bitcoin option income. Its Bitcoin strategy drove a 3000% surge in stock price, with 88% of revenue coming from crypto assets. By continuously acquiring Bitcoin and building a positive feedback financing loop, the company gradually moved away from its traditional hotel business to become a unique Bitcoin proxy window in the Japanese capital market. This radical transformation is seen as a model for companies to completely reshape their business models in the digital age and could serve as a benchmark for other companies to emulate or learn from.

"Beyond Binance Alpha, What Are the Other Wealth Passphrases?"

Data from May shows that BNB Chain is leading in key metrics such as DEX trading volume, on-chain transaction count, and stablecoin user count, with the ecosystem experiencing a strong surge. Meme coins, AI projects, and DeFi protocols have become focal points of capital attention. Binance Alpha and the USD1 stablecoin are jointly building a liquidity and user growth flywheel, driving a surge in ecosystem activity. Retail investors can participate through interactive tasks, liquidity mining, and initial offerings, but should pay attention to diversification and risk control. With on-chain performance optimizations and AI strategies being implemented, BNB Chain is poised to continue leading the next wave of public chain enthusiasm.

"a16z: The Rise of Stablecoins, What New Opportunities Do Entrepreneurs Have?"

Stablecoins are becoming a key tool connecting traditional finance and emerging technologies, garnering global attention for their speed, low cost, and programmability. However, to realize their potential, three major challenges need to be addressed: achieving monetary unification to enable seamless 1:1 exchange between stablecoins and traditional currencies, effectively dealing with the currency policy impact USD stablecoins may have in non-dollar economies, and guarding against financial market imbalances and credit contraction risks due to widespread collateralization with government bonds. Future stablecoin designs should integrate tokenized deposits, diversified collateral assets, and on-chain liquidity mechanisms to maintain economic stability and credit creation capabilities while preserving the vitality of financial innovation.

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