Half an hour ago, James Wynn's Bitcoin long position worth $100 million was liquidated.
According to on-chain analyst Yu Jin's monitoring, half an hour ago, whale James Wynn's Bitcoin long position worth $100 million was liquidated.
The Kyrgyzstan Ministry of Finance announces the details of the gold-backed stablecoin USDKG.
According to Finance Feeds, the Kyrgyzstan Ministry of Finance has announced the details of the gold-backed stablecoin USDKG, which will be strictly pegged to the country's physical gold reserves in the treasury. Each USDKG corresponds to a specific amount of gold, with reserves supervised by the National Bank of the Kyrgyz Republic and subject to regular audits to ensure transparency. The government stated that this move aims to enhance financial inclusion through blockchain technology, reduce transaction costs, and provide investors with a digital asset resistant to volatility. USDKG is expected to launch on a blockchain platform in the coming months, currently working with commercial banks and other institutions to advance system integration. The country hopes this gold-backed model can serve as a template for digital economic innovation in Central Asia. In recent years, Kyrgyzstan has continued to push for financial modernization reforms, with gold reserves ranking 58th in the world in 2024 (according to World Gold Council data). Earlier reports indicated that Kyrgyzstan will launch the dollar stablecoin USDKG in Q3, backed by national gold reserves.
Tether CEO: By the end of this year, Tether is expected to become the world's largest Bitcoin miner.
According to Bitcoin Magazine, in addition to disclosing Bitcoin and gold reserves, Tether CEO Paolo Ardoino stated at the Bitcoin 2025 conference that the company has invested $2 billion in energy production, with even more invested in Bitcoin mining, and expects Tether to become the world's largest Bitcoin miner by the end of this year, a prediction that encompasses all publicly listed companies. Additionally, Ardoino introduced a new AI system designed for society. He hopes the AI agent will have non-custodial wallets, managing funds independently without being bound by others' rules. He also announced that the company's AI platform is named QVAC. Finally, Ardoino mentioned collaborative investments and new projects with Rumble, where both parties will jointly launch the Rumble wallet, prioritizing Bitcoin while also providing stablecoin storage functionality.
Michael Saylor: Including Bitcoin in the balance sheet has a 90% chance of success in five years.
According to Cointelegraph, Strategy founder Michael Saylor stated at the Bitcoin 2025 conference: 'If you allocate Bitcoin on your balance sheet, you have a 90% chance of success within five years.'
Arthur Hayes: Ethereum is expected to rise to $5000 this year, setting a historical high.
According to Decrypt, BitMEX founder Arthur Hayes predicted at the Bitcoin 2025 conference that Ethereum could reach a historical high of $4000-5000 within the year, representing a 50%-88% potential increase from the current $2646. He believes that 'the most hated L1' often performs well at turning points in cycles and noted that Ethereum's recent 45% increase shows signs of recovery. Analysts point to three major driving factors: 1) Ethereum occupies 51% of the underlying network share for stablecoin issuance; 2) Expansion of the Layer 2 ecosystem (such as Robinhood potentially launching on-chain equity tokens after acquiring WonderFi); 3) Successful implementation of the Pectra upgrade. Standard Chartered’s digital asset head Geoffrey Kendrick is also bullish, giving target prices of $4000 for 2025 and $7500 for 2029. Currently, ETH needs to rise 88% to break through the previous high of $4878 set in 2021.
The blockchain games (Realms of Alurya) and (Wonder Wars) announce imminent shutdown.
According to Decrypt, two games based on the Ethereum sidechain Ronin (Realms of Alurya) and (Wonder Wars) have announced imminent shutdown due to lack of funds. The developer Hello Monster stated that they failed to meet key operational metrics and secured financing, leading to the decision to terminate (Wonder Wars) operations and cancel the token issuance. (Realms of Alurya) was forced offline due to the publisher Treasure suddenly terminating cooperation and a break in the funding chain, with the team seeking solutions. This continues the trend of shutdowns in the crypto gaming sector in 2025, with previous projects like (Nyan Heroes) and (Ember Sword) terminating operations for similar reasons. Industry analysis points to financing difficulties and insufficient players as accelerating market reshuffling.
Coinbase International launches HYPE perpetual contracts.
Coinbase International announces that it will launch Hyperliquid perpetual contract (HYPE-PERP) trading on Coinbase International Exchange and Coinbase Advanced at or after 17:30 Beijing time on June 5, 2025.
Webus International plans to raise up to $300 million to establish XRP reserves, develop cross-border payment solutions, and blockchain infrastructure.
According to GlobeNewswire, mobile travel service provider Webus International Limited (NASDAQ: WETO) announced two strategic partnerships: plans to raise up to $300 million through non-equity financing to establish XRP reserves for developing cross-border payment solutions and blockchain infrastructure; and to renew its national travel cooperation agreement with Tongcheng Travel Holdings Limited (HKSE: 0780.HK). The financing plan will support three major directions: establishing XRP strategic reserves, developing wallets and Web3 loyalty systems, and accelerating global expansion. The financing scheme is still in the discussion stage, with final terms pending.
Wall Street investment bank Cantor Fitzgerald will launch a gold-backed Bitcoin fund.
According to CoinDesk, Wall Street investment bank Cantor Fitzgerald announced it will launch a gold-hedged Bitcoin fund, which is the institution's first Bitcoin-themed investment product. The fund plans to run for five years, providing 1:1 downside protection through a gold-linked mechanism while retaining the upside potential of Bitcoin prices. Cantor Fitzgerald Chairman Brandon Lutnick stated at the Bitcoin 2025 conference that the product aims to attract traditional investors with cautious attitudes towards Bitcoin into the crypto ecosystem. Previously, the institution had already engaged in Bitcoin lending, with initial partners including crypto lending platform Maple and brokerage FalconX.
Pantera Capital discloses its investment in stocks adopting a 'digital asset vault' strategy.
According to CoinDesk, crypto investment firm Pantera Capital disclosed its focus on a portfolio of publicly traded companies holding crypto assets in an investor memo. Major investment targets include Bitcoin reserve company Twenty One Capital (backed by Tether, SoftBank, etc.), Solana-focused DeFi Development Corp, and Ethereum-holding company Sharplink Gaming supported by ConsenSys. Pantera partner Cosmo Jiang stated that these 'digital asset vault' companies provide stock market investors with indirect access to crypto assets. Their closed-end fund operation model may impact the supply and demand of underlying assets and potentially achieve returns that exceed the appreciation of the tokens themselves in a volatile market.
The U.S. SEC issues a policy statement on PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance.
According to official news, the U.S. Securities and Exchange Commission (SEC) has issued a policy statement regarding PoS network staking activities, clearly stating that three types of staking activities do not constitute securities issuance: 1) Self-staking (node operators use their own crypto assets to participate in network validation); 2) Third-party non-custodial staking (asset owners retain control and only delegate validation rights); 3) Compliant custodial staking (the custodian strictly segregates customer assets and does not use them for operations or re-pledging). The statement indicates that the network rewards obtained from the aforementioned staking activities are considered compensation for validation services, rather than investment income obtained from the efforts of others in management, thus failing to meet the securities determination standards under the Howey test. It also specifies that four types of accompanying services (penalty insurance, early unbinding, reward restructuring, asset aggregation) do not alter the nature of staking. This policy does not apply to staking services that provide fixed income or engage in trading with customer assets for operational activities. The SEC emphasizes that custodians must ensure that staking assets: 1) are independent of operational funds; 2) are prohibited from being lent or re-pledged; 3) are not subject to third-party claims. This policy aims to provide regulatory certainty for compliant staking activities while maintaining enforcement authority over security tokens.
OpenSea officially releases the fully upgraded OS2 platform and will airdrop SEA tokens.
According to CoinDesk, NFT trading platform OpenSea has officially released the fully upgraded OpenSea2 (OS2) platform, ending its testing phase and opening to the public. The new platform supports token trading capabilities across 19 blockchains, marking its transition from focusing on NFTs to a broader crypto market. The platform also launches a new rewards system called 'Voyages', where users can earn XP points through basic operations like completing on-chain transactions. OpenSea co-founder and CEO Devin Finzer stated that OS2 is 'the foundation of the new generation of OpenSea.' The company’s CMO Adam Hollander revealed in a blog that the SEA token will be distributed through a token generation event (TGE) after completing a series of product updates, but no specific timeline has been disclosed. This token will allow users to redeem using accumulated XP points.
The leader of the UK Reform Party promises to establish a Bitcoin reserve and promote legislation supporting crypto assets if elected Prime Minister.
According to CoinDesk, UK Reform Party leader Nigel Farage announced at the Bitcoin conference in Las Vegas that if elected Prime Minister, he would promote legislation supporting crypto assets. His core policies include: establishing a Bitcoin reserve at the Bank of England; prohibiting banks from closing accounts due to customer participation in crypto activities through the (Crypto Assets and Digital Finance Act); unifying capital gains tax on crypto assets to 10%; and expressing clear opposition to the issuance of Central Bank Digital Currency (CBDC). Farage declared, 'I want London to become the world's top crypto trading center,' and confirmed that the Reform Party will become the first party in Europe to accept cryptocurrency donations. Recent polls show that the party's support rate continues to rise, but the next UK general election is expected to be held in August 2029. The Reform Party has already achieved breakthrough performance in the May local elections.
SEC crypto working group head: Crypto traders need to mature instead of crying to the government.
According to CoinDesk, Hester Peirce, head of the SEC's crypto working group, stated at the Bitcoin 2025 conference that crypto investors should be responsible for their investment decisions instead of seeking government bailouts when they incur losses. The commissioner emphasized: 'If you advocate for freedom of choice, you should learn from investment failures rather than ask for bailouts.' Peirce pointed out that most crypto tokens are not securities, and related trading platforms do not need to register with the SEC unless they involve securities-related business. Regarding the recent popular Meme coins, she clearly stated that they belong to a speculative area where investors must bear the risks. On the issue of listed companies holding crypto assets, Peirce maintained a neutral stance, only emphasizing the need for proper information disclosure. The SEC has recently excluded Meme coins, some mining activities, and stablecoins from regulatory scope through policy statements. Peirce noted that the SEC is clarifying the regulatory boundaries of digital asset securities, but the specific regulatory framework for retail crypto trading still requires congressional legislation. When the audience was asked whether federal crypto regulation was needed, the response was a clear opposition.
Panama City Mayor: Plans to allow Bitcoin to prioritize ships paying canal fees, considering establishing a municipal Bitcoin reserve.
According to CoinDesk, Panama City Mayor Mayer Mizrachi stated at the Bitcoin 2025 conference that he is considering promoting Bitcoin payment applications following the Salvadoran model. The city has passed legislation allowing residents to use Bitcoin, Ethereum, and certain stablecoins to pay taxes, parking fees, and other municipal expenses. Mizrachi specifically proposed to provide priority passage for vessels paying transit fees with Bitcoin through the Panama Canal and is considering establishing a municipal Bitcoin reserve. This idea is directly inspired by the policies of El Salvador's President Bukele, which became the first country to adopt Bitcoin as legal tender four years ago. Currently, the Panama Canal Authority has not officially responded to the cryptocurrency payment proposal. The canal is expected to generate $4.9 billion in transit fee revenue in the 2024 fiscal year, handling an average of 30-40 ships daily.
U.S. House Republicans formally propose a cryptocurrency market structure bill.
According to CoinDesk, U.S. House Republicans have formally introduced a new cryptocurrency market structure bill, known as the (Digital Asset Market Clarity Act), which follows the (21st Century Financial Innovation and Technology Act) (FIT21) as another significant piece of crypto regulatory legislation. This 236-page bill grants the U.S. Commodity Futures Trading Commission (CFTC) primary regulatory authority over the spot markets for digital commodities, while requiring crypto platforms to choose whether to register with the CFTC or the SEC based on the type of trading assets. The core contents of the bill include: allowing crypto platforms to obtain temporary registration with the CFTC; excluding some DeFi projects and wallet providers from SEC regulation; prohibiting custodial institutions from listing customer assets on their own balance sheets; and clarifying that payment stablecoins do not fall under the category of securities. The bill also requires the three regulatory agencies to complete research on DeFi regulation within a year and authorizes the Government Accountability Office to submit research reports on DeFi and NFTs. If the (Clarity Act) is formally enacted, the relevant regulatory agencies will have one year to implement its market structure rules. There are still some discussions about whether to consolidate the stablecoin bill and market structure bill into one cryptocurrency bill for congressional review.
Coinbase Institutional will enable 24/7 trading of XRP and SOL futures for U.S. traders starting June 13.
Coinbase Institutional states on the X platform that starting from June 13, it will enable 24/7 trading of XRP and Solana (SOL) futures, unlocking real-time access for U.S. traders.
Tether CEO: The company holds over 100,000 BTC and 50 tons of gold.
According to The Block, Tether CEO Paolo Ardoino disclosed at the Bitcoin 2025 conference that the company currently holds over 100,000 BTC (worth over $10 billion) and more than 50 tons of gold. According to the latest financial report, as of the end of the first quarter of 2025, the value of Bitcoin held by Tether exceeded $7 billion (based on a price of $83,000 per BTC at that time), with the value of physical gold bars exceeding $6 billion. Ardoino stated that in 2024, Tether achieved approximately $13 billion in profit, making it the most profitable company in the crypto industry. Regarding the decision to hold gold, he explained that 'gold does not compete with Bitcoin, but competes with fiat currency.' Currently, USDT is the largest dollar stablecoin in the world.
Paris Saint-Germain Football Club announces that it has included Bitcoin in its financial reserves.
According to The Block, Paris Saint-Germain Football Club (PSG) has announced that it has included Bitcoin in its financial reserves. PSG Labs head Pär Helgosson revealed at the Bitcoin 2025 conference in Las Vegas that the club started purchasing and holding Bitcoin last year, becoming the first top football club to publicly hold Bitcoin. Helgosson stated that PSG converted part of its fiat reserves into Bitcoin and still holds these assets. As one of the largest football clubs in the world, PSG has become the first institution in sports to publicly hold Bitcoin. The club also plans to invest in 'Bitcoin entrepreneurs' and 'Bitcoin projects', leveraging its global fan base of 550 million to help these projects expand their markets.
Coinbase is about to reopen its office in San Francisco, USA.
San Francisco Mayor Daniel Lurie stated on the X platform: 'Coinbase is soon to return to San Francisco after leaving four years ago, opening a 150,000-square-foot office at Mission Rock. San Francisco is an ideal place to create and grow businesses. Welcome back.' In response, Coinbase CEO Brian Armstrong said, 'We are excited to reopen our office in San Francisco. There is still much work to be done to improve this city.'
The U.S. SEC applies to the court to withdraw the lawsuit against Binance.
According to The Block, the U.S. Securities and Exchange Commission (SEC) has filed documents with the court requesting to withdraw the lawsuit against cryptocurrency exchange Binance and its former CEO Changpeng Zhao. The SEC stated in a joint statement submitted to the U.S. District Court for the District of Columbia that it believes withdrawing the case is appropriate based on policy considerations. The lawsuit began in 2023, with the SEC accusing Binance of operating without registration and making false statements about trading control. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. A Binance spokesperson called it 'an important moment of regulatory policy change.' Documents show that the SEC's newly formed crypto working group has recently engaged in extensive consultations with the industry. The SEC has recently withdrawn lawsuits against several crypto companies such as Coinbase and Uniswap. SEC Commissioner Peirce stated that enforcement should target clear violations but will still crack down on illegal activities in the crypto space.
Rain launches a multi-chain stablecoin Visa card supporting Solana, Tron, and Stellar.
According to CoinDesk, stablecoin Visa card platform Rain announced it has added support for Solana, Tron, and Stellar networks, enabling projects based on these chains to quickly issue their own branded Visa cards, supporting stablecoin use and payments globally. KAST on Solana and Offramp on the Tron chain have been the first to adopt this platform, focusing on instant wallet consumption and promoting dollar payments in Latin America. Rain previously supported Arbitrum, Optimism, and Polygon and completed a $24.5 million Series A financing in March.
Santander Bank in Spain plans to launch a stablecoin, its subsidiary has applied for a crypto license.
According to Bloomberg, Spanish financial giant Santander is considering expanding its digital asset business, with its digital bank Openbank applying for a crypto license under the EU MiCA framework, aiming to provide stablecoin and crypto asset services to retail customers as early as this year. The bank is evaluating the feasibility of issuing euro- and dollar-denominated stablecoins, either through self-developed or existing stablecoin solutions.
Twenty One Capital's total financing reached $685 million and is about to merge with a Nasdaq-listed company.
According to CoinDesk, Bitcoin vault company Twenty One Capital has recently refinanced $100 million through convertible preferred secured notes, bringing its total financing scale to $685 million. The company is preparing to merge with Nasdaq-listed Cantor Equity Partners, planning to list as a Bitcoin reserve company. This SPAC is led by Brandon Lutnick, son of Cantor's former chairman, with shareholders including Tether and iFinex, and Strike CEO Jack Mallers set to become CEO. The company disclosed earlier this month that it spent $458 million to acquire Bitcoin.
Arkham: A total of 454,000 BTC holdings have been identified on-chain for Strategy.
According to Arkham's latest disclosure, it has tracked Saylor's addition of 53,800 BTC (approximately $5.75 billion), bringing the total tracked amount to $59.92 billion BTC, accounting for 97% of his total holdings. This data is based on the newly identified Strategy addresses totaling 70,800 BTC. Arkham stated that approximately 107,000 BTC are held in Fidelity, which cannot be identified on-chain, while the remaining 454,000 BTC are in visibly independent custody addresses on-chain, aiming to achieve real-time public proof of Strategy BTC asset reserves.
Adam Back predicts Bitcoin will reach $1 million within five years.
According to Bitcoin Magazine, Blockstream CEO and early Bitcoin promoter Adam Back recently predicted that Bitcoin will rise to $1 million within the next five years.
Telegram issues $1.7 billion in convertible bonds, part of which is used for debt replacement.
According to Bloomberg, Telegram successfully issued $1.7 billion in five-year convertible bonds to replace $955 million of old debt maturing in 2026 and raise $745 million in new financing. The bond has a coupon of 9%, which is 200 basis points higher than the 2021 bond. If Telegram goes public, investors can redeem at 80% of the IPO price. Telegram currently has over 1 billion users, expecting revenue to exceed $1 billion in 2024, and cash reserves of over $500 million (excluding crypto assets).
For the week ending May 24, the initial jobless claims in the U.S. were 240,000, expected at 230,000.
For the week ending May 24, the initial jobless claims in the U.S. were 240,000, expected at 230,000, with the previous value revised from 227,000 to 226,000. The U.S. first-quarter annualized GDP growth rate was revised to -0.2%, expected at -0.30%, with the previous value at -0.30%.
SOL Strategies spent $4.7 million to acquire 26,478 SOL and has now liquidated all Bitcoin holdings.
According to SOL Strategies (CSE: HODL), the company spent $4.7 million on May 26 to purchase 26,478 SOL at an average price of approximately $177.5, and has liquidated all Bitcoin holdings (3.21 BTC, cashing out $331,000). The company currently holds a total of 420,355 SOL (approximately CAD 100 million), with its asset allocation fully focused on Solana ecosystem validation node operations and long-term investment.
