• The Most Published News
The $CETUS Protocol, a leading decentralized exchange on the Sui blockchain, suffered a large-scale hack resulting in over $220 million stolen, predominantly in $USDC and $SUI assets. The attacker exploited an oracle manipulation vulnerability in the protocol’s smart contracts to drain liquidity pools, then bridged approximately $60 million in USDC cross-chain to Ethereum for swaps into ETH. Cetus has temporarily suspended smart contracts and launched a $6 million bounty offering to recover stolen funds, freezing about $160 million with Sui validators’ help. This incident has caused an 8% drop and over $1 billion market cap loss for SUI tokens and sparked debate over decentralization due to centralized intervention by validators to freeze assets.

• Current Market Trends
U.S. stock futures declined following President Donald Trump’s announcement of a 50% tariff on European Union imports starting June 1. The tariff would exclude products built or manufactured within the U.S. The announcement increased concerns over escalating trade tensions between the U.S. and EU.

• Regulations and Policies
The U.S. Senate is advancing the GENIUS Act aimed at federally regulating stablecoins with strict reserve and transparency requirements, potentially triggering a multi-year bull market benefitting Ethereum, Solana, and DeFi tokens. Meanwhile, major U.S. banks including @JPMorgan, Bank of America, Citigroup, and Wells Fargo are exploring a joint stablecoin issuance to compete with crypto-native firms, contingent on regulatory clarity. The U.S. Commodity Futures Trading Commission (CFTC) confirmed that cryptocurrency perpetual futures can soon be legally traded in the U.S., anticipating regulatory approvals imminently. In parallel, the U.S. SEC has delayed decisions on XRP and Litecoin spot ETF filings but officially accepted a TRX staking ETF application, signaling cautious but progressive regulatory engagement.

• Technology and Innovation
@Solana continues to expand real-world asset tokenization, with R3 partnering to bring over $10 billion in tokenized assets to Solana’s public blockchain, enhancing institutional adoption. Centrifuge launched a $400 million tokenized U.S. Treasury bond fund on Solana, allowing DeFi users to gain yield exposure to short-term Treasuries. @OKX introduced xBTC on Aptos blockchain, enabling fee-free Bitcoin liquidity in DeFi without minting or redemption fees. Additionally, a breakthrough zero-knowledge proof system, Binary GKR, offers a 5.7x speed improvement for Ethereum zkEVMs, promising reduced transaction costs and scalability enhancements.

• Institutional Investor News
@Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder with over 576,000 $BTC, has announced a $2.1 billion preferred stock offering with a 10% yield to fund further Bitcoin purchases, reinforcing its long-term asset accumulation strategy. Genius Group resumed Bitcoin reserve expansion after a court ruling lifted prior bans, adding 24.5 BTC and targeting 1,000 BTC by late 2024. Notably, whale investor James Wynn increased his Bitcoin long position to over $800 million and initiated significant leveraged Ethereum exposure, reflecting growing institutional conviction. Additionally, @krakenfx continues its expansion into tokenized traditional assets, launching 24/7 trading for over 50 U.S. stocks on Solana’s blockchain for non-U.S. customers.

• Market Forecasts and Expert Opinions
Analysts predict strong upside potential for Bitcoin, with forecasts ranging from $115,000 to $200,000 by end of 2025 and beyond, underpinned by institutional demand, US dollar weakness, and regulatory clarity. Market commentators highlight that the current Bitcoin rally is driven by sustainable, long-term holder accumulation rather than retail-induced speculation or high futures funding rates, suggesting a less volatile trajectory. However, caution remains due to upcoming options expirations that might trigger short-term corrections of 15–20%. $XRP and $SOL are identified as promising altcoins with technical breakout patterns and increasing futures open interest, though macroeconomic risks such as rising yields and geopolitical tensions warrant conservative asset selection.

• Security and Hacking News
The $220 million Cetus Protocol hack on the Sui blockchain stands as the largest recent DeFi security breach, exposing critical vulnerabilities in oracle systems. Post-exploit, Sui validators took the extraordinary step to freeze $160 million of stolen assets on-chain, a move igniting intense debates about decentralization and network governance. The hacker actively moved large amounts of stolen SUI and USDC tokens through cross-chain bridges and converted significant USDC amounts into ETH. Additionally, Coinbase suffered a $400 million data breach via insider social engineering, with ongoing theft and liquidation of stolen ETH in DAI via THORChain, highlighting persistent security challenges at major exchanges. Malware scams impersonating Ledger Live app on macOS are also increasingly targeting users to steal seed phrases.

• Conclusion
The crypto market displays strong signs of maturation with Bitcoin leading an institutionally driven rally while maintaining cautious optimism amid evolving regulatory frameworks. Investors should note the heightened futures and options activity indicating both opportunity and risk of volatility. The massive security breach at Cetus underscores the need for vigilance regarding DeFi protocols and oracle reliability. Regulatory progress, particularly around stablecoin oversight and derivative approval, suggests expanding institutional participation but also necessitates monitoring for changes in compliance and market structure. Given these developments, retail investors should carefully balance participation in rising markets with prudent risk management, focusing on assets demonstrating resilient fundamentals and supported by regulatory clarity.

Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.
http://ns3.ai/top-news