Today's news highlights:
Pantera Capital disclosed its investments in stocks that adopt a 'digital asset treasury' strategy.
The U.S. SEC applied to the court to dismiss the lawsuit against Binance.
Arthur Hayes: Ethereum is likely to rise to $5,000 this year, setting a new historical high.
Chain games (Realms of Alurya) and (Wonder Wars) announced they will soon cease operations.
OpenSea officially released the fully upgraded OS2 platform and will airdrop SEA tokens.
A certain whale/institution withdrew approximately $3.99 million worth of $KAITO from Binance within 8 hours and deposited it into staking, having interacted multiple times with Continue Capital.
The total net outflow of Bitcoin spot ETFs yesterday was $359 million, ending a 10-day net inflow streak.
Tether CEO: The company holds over 100,000 Bitcoins and 50 tons of gold.
Regulatory/Macro
Wall Street investment bank Cantor Fitzgerald will launch a gold-backed Bitcoin fund.
According to CoinDesk, Wall Street investment bank Cantor Fitzgerald announced the launch of a gold-hedged Bitcoin fund, which will be the institution's first Bitcoin-themed investment product. The fund is planned to run for five years, providing 1:1 downside protection through a gold-linked mechanism while retaining upside potential for Bitcoin prices. Cantor Fitzgerald Chairman Brandon Lutnick stated at the Bitcoin 2025 Conference that the product aims to attract traditional investors who are cautious about Bitcoin into the crypto ecosystem. Previously, the institution had engaged in Bitcoin lending, with initial partners including crypto lending platforms Maple and broker FalconX.
Pantera Capital disclosed its investments in stocks that adopt a 'digital asset treasury' strategy.
According to CoinDesk, crypto investment firm Pantera Capital disclosed in an investor memo its focus on a portfolio of publicly listed companies holding crypto assets. Key investment targets include Bitcoin reserve company Twenty One Capital (supported by Tether, SoftBank, etc.), DeFi Development Corp focusing on Solana, and Ethereum holding company Sharplink Gaming supported by ConsenSys. Pantera partner Cosmo Jiang stated that these 'digital asset treasury' companies provide stock market investors with an indirect way to hold crypto assets. Its closed-end fund operation model may affect supply and demand for underlying assets and potentially achieve returns exceeding the appreciation of the tokens themselves in volatile markets.
The U.S. SEC issued a policy statement regarding PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance.
According to the official website, the U.S. Securities and Exchange Commission (SEC) released a policy statement regarding PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance: 1) Self-staking (node operators using their own crypto assets to participate in network validation); 2) Third-party non-custodial staking (asset owners retain control, only delegating validation rights); 3) Compliant custodial staking (custodians strictly isolate client assets, not using them for operations or re-hypothecation). The statement indicated that network rewards obtained from the aforementioned staking activities are considered compensation for validation services, not investment returns based on the efforts of others' management. It also clarifies that four types of supporting services (penalty insurance, early unbinding, reward restructuring, asset aggregation) do not change the nature of staking. This policy does not apply to staking services that provide fixed returns or use client assets for trading and other operational activities. The SEC emphasizes that custodial entities must ensure that staked assets are: 1) Independent of operational funds; 2) Prohibited from lending or re-hypothecating; 3) Not subject to third-party recourse. This policy aims to provide regulatory certainty for compliant staking activities while maintaining enforcement authority over security tokens.
The leader of the UK Reform Party promised that if elected Prime Minister, he would establish Bitcoin reserves and promote legislation supporting crypto assets.
According to CoinDesk, Nigel Farage, leader of the Reform Party in the UK, 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 Bitcoin reserves at the Bank of England; prohibiting banks from closing accounts due to customer involvement in crypto activities through the (Crypto Assets and Digital Finance Act); unifying capital gains tax on crypto assets to 10%; and clearly opposing the issuance of central bank digital currency (CBDC). Farage claimed, 'We want London to become the world's top crypto trading hub,' 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 made breakthrough performances in the local elections in May.
The Mayor of Panama City proposed to allow ships paying canal fees in Bitcoin to have priority passage and is considering establishing a municipal Bitcoin reserve.
According to CoinDesk, Mayor Mayer Mizrachi of Panama City stated at the Bitcoin 2025 conference that he is considering promoting Bitcoin payment applications based on the El Salvador model. The city has passed legislation allowing residents to use Bitcoin, Ethereum, and certain stablecoins to pay taxes, parking fees, and other municipal fees. Mizrachi specifically mentioned that he plans to provide priority passage for ships paying the Panama Canal toll in Bitcoin and is considering establishing a municipal Bitcoin reserve. This idea is directly inspired by the policies of El Salvador's President Bukele, as the country became the first to adopt Bitcoin as legal tender four years ago. Currently, the Panama Canal Authority has not formally responded to the cryptocurrency payment proposal. The canal's toll revenue for the 2024 fiscal year reached $4.9 billion, handling an average of 30-40 ships daily.
Paris Saint-Germain Football Club announced it has incorporated Bitcoin into its financial reserves.
According to The Block, Paris Saint-Germain Football Club (PSG) announced that it has incorporated Bitcoin into its financial reserves. PSG Labs head Pär Helgosson revealed at the Bitcoin 2025 conference in Las Vegas that the club began 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 currency reserves into Bitcoin and still holds these assets. As one of the largest football clubs globally, PSG is the first entity in the sports industry to publicly hold Bitcoin. The club also plans to invest in 'Bitcoin entrepreneurs' and 'Bitcoin projects' and leverage its global fan base of 550 million to help these projects expand their market.
Coinbase will soon reopen its office in San Francisco.
San Francisco Mayor Daniel Lurie stated on platform X: 'Coinbase, after leaving San Francisco four years ago, is about to return and open a 150,000 square foot office in Mission Rock. San Francisco is an ideal place to create and grow companies. Welcome back.' In response, Coinbase CEO Brian Armstrong said, 'We are excited to reopen our office in San Francisco. Although there is much work to be done to improve this city.'
The U.S. SEC applied to the court to dismiss the lawsuit against Binance.
According to The Block, the U.S. Securities and Exchange Commission (SEC) has submitted a document to the court requesting the dismissal of the lawsuit against crypto exchange Binance and its former CEO Zhao Changpeng. The SEC stated in a joint declaration submitted to the U.S. District Court for the District of Columbia that it believes dismissing 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 regarding trading controls. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. A Binance spokesperson stated that this is “an important moment for a shift in regulatory policy.” The document shows that the SEC's newly formed crypto task force has conducted extensive consultations with the industry recently. The SEC has also dismissed lawsuits against several crypto companies, including 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.
Opinions
Tether CEO: It is expected that by the end of this year, Tether will become the largest Bitcoin miner in the world.
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 and has invested even more in Bitcoin mining. It is expected that by the end of this year, Tether will become the largest Bitcoin miner in the world, a prediction that encompasses all publicly listed companies. Additionally, Ardoino introduced a new type of AI system specifically built for society. He hopes that AI agents will have non-custodial wallets, managing funds and working for themselves without being bound by others' rules. It was also announced that the company's AI platform is named QVAC. Finally, Ardoino mentioned collaboration investments with Rumble and new projects, with both parties set to launch the Rumble wallet, prioritizing Bitcoin while also providing stablecoin storage functionality.
Michael Saylor: If Bitcoin is included on the balance sheet, there is a 90% probability of success in 5 years.
According to Cointelegraph, Strategy founder Michael Saylor stated at the Bitcoin 2025 conference: 'If you allocate Bitcoin on your balance sheet, there is a 90% chance of success in 5 years.'
Arthur Hayes: Ethereum is likely to rise to $5,000 this year, setting a new historical high.
According to Decrypt, BitMEX founder Arthur Hayes predicted at the Bitcoin 2025 conference that Ethereum could reach a historical high of $4,000 to $5,000 within the year, representing a 50%-88% upside from the current $2,646. He believes that 'the most hated L1' often performs well during market cycle turns, and pointed out that Ethereum's recent 45% price increase shows signs of recovery. Analysts identified three main driving factors: 1) Ethereum accounts for 51% of the stablecoin issuance underlying network share; 2) Layer2 ecosystem expansion (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, providing target prices of $4,000 for 2025 and $7,500 for 2029. Currently, ETH needs to rise 88% to break the previous high of $4,878 in 2021.
Project updates
Loud will launch the $LOUD token IAO on May 31, with 10% LOUD allocated for community programs and market-making.
Based on Kaito's information tokenization protocol, Loud announced that the initial attention offering (IAO) for the $LOUD token will start at 10:00 PM Beijing time on May 31 on the HoloLaunch platform of HoloworldAI, with a total fundraising goal of 400 $SOL (approximately $70,000). The IAO has two phases: the priority phase is for the first 1,000 $LOUD users, and the community phase is for users who have bound their Solana addresses with KaitoAI and meet the eligibility criteria, adopting a first-come-first-served model. It is reported that the total supply of $LOUD tokens is 1 billion, with 45% allocated for IAO, 45% for liquidity pools, and 10% for community programs and market-making. After the IAO ends, the raised $SOL and 45% of $LOUD tokens will be injected into the MeteoraAG liquidity pool, followed by opening market trading, with transaction fees starting to distribute weekly after about 7 days. Related reading: Overview of Loud: An experiment in a decentralized attention market, rewarding speakers with trading fees.
Bithumb will launch INIT and FLOCK on the Korean won market.
According to the official announcement, South Korean crypto exchange Bithumb will list INIT and FLOCK on the Korean won market.
Moonshot launches avo ($AVO).
Moonshot announced the launch of avo ($AVO) on the Solana chain, currently valued at approximately $4.3 million, with a 24-hour trading volume of $12.5 million.
Binance Alpha will list LayerEdge (EDGEN).
According to the official announcement, Binance Alpha will be the first platform to list LayerEdge (EDGEN). The trading open date is June 2nd, with specific timing to be announced later. Eligible users need to claim the airdrop using Binance Alpha points on the Alpha event page, which will be launched on June 2nd.
Upbit will list LPT on the Korean won and USDT markets, and will list POKT on the Korean won market.
According to the official announcement, South Korean crypto exchange Upbit will list LPT tokens in the Korean won and USDT markets, and will list POKT tokens in the Korean won market.
Upbit will list FLOCK and FORT on the BTC and USDT markets.
According to the official announcement, South Korean crypto exchange Upbit will add FLOCK and FORT token trading to the BTC and USDT markets.
Chain games (Realms of Alurya) and (Wonder Wars) announced they will soon cease operations.
According to Decrypt, two games based on the Ethereum sidechain Ronin (Realms of Alurya) and (Wonder Wars) announced they will soon cease operations due to funding shortages. Developer Hello Monster stated that they failed to meet key operational metrics and financing fell through, leading to the decision to terminate (Wonder Wars) operations and cancel the token issue. (Realms of Alurya) was forced offline due to the publisher Treasure suddenly terminating the partnership and a funding chain break, with the team seeking solutions. This continues the trend of crypto game shutdowns in 2025, with previous projects like (Nyan Heroes) and (Ember Sword) also ceasing operations for similar reasons. Industry analysis points out that financing difficulties and insufficient players are accelerating market reshuffling.
Coinbase International launches HYPE perpetual contract
Coinbase International announced that it will launch Hyperliquid perpetual contract (HYPE-PERP) trading on the Coinbase International Exchange and Coinbase Advanced on June 5, 2025, at 5:30 PM Beijing time or later.
OpenSea officially released the fully upgraded OS2 platform and will airdrop SEA tokens.
According to CoinDesk, NFT trading platform OpenSea officially released the fully upgraded OpenSea2 (OS2) platform, ending the testing phase and opening to the public. The new platform supports token trading across 19 blockchains, marking its transition from focusing on NFTs to a broader crypto market. The platform also launched a new rewards system called 'Voyages,' allowing users to earn XP points through basic operations such as completing on-chain transactions. OpenSea co-founder and CEO Devin Finzer stated that OS2 is 'the foundation for the next generation of OpenSea.' The company's CMO Adam Hollander revealed in a blog that SEA tokens will be distributed through a token generation event (TGE) after a series of product updates, but no specific timeline has been announced. The token will allow users to redeem using accumulated XP points.
Important data
A certain whale/institution withdrew approximately $3.99 million worth of $KAITO from Binance within 8 hours and deposited it into staking, having interacted multiple times with Continue Capital.
According to ai_9684xtpa monitoring, whale/institution address 0xB8C...dC1dc withdrew 1.79 million $KAITO (approximately $3.99 million) from Binance in the past 8 hours and subsequently deposited it into staking on the Kaito platform. This address has interacted multiple times with Continue Capital. Meanwhile, today's information flow related to $KAITO is concentrated on Loud and Kaito AI accounts, raising market speculation about potential institutional entry.
The total net outflow of Bitcoin spot ETFs yesterday was $359 million, ending a 10-day net inflow streak.
According to SoSoValue data, yesterday (Eastern Time May 29), the total net outflow of Bitcoin spot ETFs was $359 million. The Bitcoin spot ETF with the highest net inflow yesterday was Blackrock's ETF IBIT, with a single-day net inflow of $125 million, and its historical total net inflow reached $49 billion. The Bitcoin spot ETF with the highest net outflow yesterday was Fidelity's ETF FBTC, with a single-day net outflow of $166 million, and its historical total net inflow reached $11.62 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $128.127 billion, with an ETF net asset ratio (market value compared to total Bitcoin market value) of 6.07%, and total cumulative net inflow has reached $44.985 billion.
James Wynn's Bitcoin long position worth $100 million was liquidated.
According to on-chain analyst Yu Jin's monitoring, half an hour ago, a whale's Bitcoin long position held by James Wynn, valued at $100 million, was liquidated.
Tether CEO: The company holds over 100,000 Bitcoins 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 Bitcoins (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 exceeds $7 billion (based on $83,000 per coin at the time), and the value of physical gold bars exceeds $6 billion. Ardoino stated that Tether achieved about $13 billion in profit in 2024, 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 with fiat currency.' Currently, USDT is the largest dollar-pegged stablecoin in the world.
Financing
Solana ecosystem token issuance platform Cooking.City completed $7 million in financing, led by Jump Crypto.
Solana ecosystem token issuance platform Cooking.City completed $7 million in financing, led by JumpCrypto, with participation from CMT Digital, Mirana, Bitscale Capital, and EVG.
It is reported that Cooking.City proposed a sustainable, incentivized, community-centered new model for on-chain issuance, including: value redistribution (redistributing most platform fees back to developers and users), a 'confidence pool' mechanism (the token issuer must deposit a certain amount of funds in the smart contract in advance), and a social-based value distribution system (introducing a referral commission system and redistributing fees within the ecosystem, with most fees used for community referrals and trading rewards, part returned to the token issuer, and the rest invested in the platform's long-term development).
Blockchain security protocol Naoris Protocol completed $3 million in strategic round financing.
Blockchain security protocol Naoris Protocol completed $3 million in strategic round financing, led by Mason Labs, with participation from Frekaz Group, Level One Robotics, and Tradecraft Capital. The funds will be used to develop blockchain security infrastructure against quantum computing threats.
It is reported that Naoris Protocol's core products include: plug-and-play cybersecurity mesh architecture, compatible with all EVM chains, Layer1 blockchain using post-quantum encryption technology, and PoS consensus mechanism compliant with international security standards such as NIST.
Webus International aims to raise up to $300 million to establish XRP reserves, develop cross-border payment solutions, and blockchain infrastructure.
Mobility service provider Webus International Limited (NASDAQ: WETO) announced two strategic partnerships: aiming to raise up to $300 million through non-equity financing to establish an XRP reserve for developing cross-border payment solutions and blockchain infrastructure; simultaneously renewing a national travel cooperation agreement with Trip.com Group Limited (HKSE: 0780.HK). The financing plan will support three main directions: establishing an XRP strategic reserve, developing a wallet and Web3 loyalty system, and accelerating global expansion. The financing plan is still under discussion, with final terms to be determined.
The total financing of Twenty One Capital reached $685 million and is about to merge with a Nasdaq-listed company.
Bitcoin vault company Twenty One Capital recently refinanced $100 million through convertible preferred secured notes, bringing its total financing to $685 million. The company is preparing to merge with Nasdaq-listed Cantor Equity Partners, planning to go public as a Bitcoin reserve company. This SPAC is led by the son of Cantor's former chairman, Brandon Lutnick, with shareholders including Tether and iFinex, and Strike CEO Jack Mallers will serve as CEO. The company disclosed earlier this month that it spent $458 million to acquire Bitcoin.
Donut Labs secured $7 million in funding and launched the first AI-driven 'agent-based' crypto browser.
New York-based Donut Labs announced the completion of $7 million in Pre-Seed round financing, led by Sequoia, Bitkraft, and HackVC, with participation from leaders in the Solana ecosystem. Donut aims to create the world's first 'agent-based' crypto browser, with built-in AI agents able to recognize web intent and automatically execute on-chain transactions such as currency exchange, mining, and asset optimization. The browser integrates wallet, DEX, and decentralized network access functions, and plans to evolve into a crypto financial manager for users.
Rumi secured $4.7 million in Pre-Seed funding, co-led by a16z crypto CSX and EV3.
AI media company Rumi announced the completion of $4.7 million in Pre-Seed round financing, co-led by a16z crypto CSX and EV3. Rumi aims to transform passive media content into interactive experiences, allowing users to contribute computing power and data for rewards through a 'watch and earn' mechanism while interacting with AI in real-time. Its decentralized infrastructure supports intelligent parsing of media content and has established partnerships with TVision, Story Protocol, and others, aiming to build the world's first user-driven intelligent media ecosystem.
Dexari completed $2.3 million in seed round financing, led by Prelude Ventures and Lemniscap.
Decentralized trading platform Dexari announced the completion of a $2.3 million seed round financing, led by Prelude Ventures and Lemniscap, with participation from several well-known angel investors in the Hyperliquid ecosystem.
