Organized by: Nona
Fear and Greed Index: 68 (Greed)
Bitcoin Price: $121,761
BTC/ETH Spot ETF Fund Flow (up to 8.13)
BTC Net Inflow: $86.91 M
ETH Net Inflow: $729.14 M
Regulation / Macro
Norwegian government sovereign fund's Bitcoin exposure doubles, indirectly holding 7,161 Bitcoins.
Crypto data analysis company K33 Research reports that Norway's sovereign wealth fund increased its indirect exposure to Bitcoin by 192% last year. The fund indirectly holds 7,161 Bitcoins through its portfolio, which includes holding companies Strategy, Metaplanet, and cryptocurrency trading platform Coinbase. The sovereign wealth fund is gaining indirect exposure through Bitcoin investment tools and corporate proxies.
Project / Company News
Hong Kong listed company Lankong Interactive will launch a $100 million fundraising plan to invest in high-potential cryptocurrency assets.
Hong Kong listed company Lankong Interactive (HKEX code: 8267) announces its group's crypto business division LK Crypto's unified management of crypto asset holdings: 193.08 Bitcoin (average price about $73,015), 1,707.63 Ethereum (average price about $3,155), and 14,057 Solana (average price about $165). Additionally, Lankong Interactive plans to launch a $100 million asset management and fundraising plan, focusing on high-potential crypto assets, Web3 infrastructure, and globally high-quality equity assets that align with the group's strategy. This plan will include the group's existing funds and held crypto assets and will be open to the market, inviting external investors to participate together.
Aguila Trades shorts Ethereum again, currently facing a loss of $416,000.
Aguila Trades shorts Ethereum again, with a position of 21,050 coins (worth about $99.6 million), incurring a loss of $416,000 again. In the past 20 hours, it completed 7 trades (both long and short), all at a loss, with a win rate of 0%, totaling a loss of $1.95 million. Previously, AguilaTrades incurred a loss of $1.846 million from 6 operations on Bitcoin and Ethereum and is currently opening a long position on Ethereum.
Mystonks: U.S. regulatory agency's investigation into dark funds only targets specific users; other users are not affected.
The compliant digital asset platform Mystonks tweeted that MyStonks recently received regulatory enforcement requests concerning specific users. This investigation is limited to a single user and involves matters such as anti-money laundering, connections with criminal organizations, fraud groups, drug trafficking, evading sanctions, and suspicious activity reports (SAR). Ordinary users' deposit and withdrawal operations are not affected by this investigation and can proceed normally.
Bitcoin mining company Bitfarms purchases U.S. land for high-performance computing development and shuts down its Argentina mine.
Canadian Bitcoin mining company Bitfarms has signed agreements to purchase 3 acres of land in Washington State for $1.9 million and 181 acres in Pennsylvania for $3.5 million for potential high-performance computing (HPC) development. Meanwhile, it is shutting down its Bitcoin mining facility in Argentina due to power supply disruptions since May 12 caused by the debt restructuring of energy supplier Generacion Mediterranea S.A. (GMSA).
Insiders: MetaMask may announce its own stablecoin plan mUSD this week.
Cryptocurrency wallet MetaMask is expected to announce details of its proprietary stablecoin mUSD as early as this week. The plan was previously revealed due to a governance proposal that was quickly deleted after being released prematurely. mUSD is issued with the assistance of stablecoin payment service provider Bridge (acquired by fintech company Stripe) and stablecoin issuance protocol M^0. MetaMask is also seeking assistance from traditional financial alternative asset management company Blackstone Group to provide custody and fund management services for the token.
Futu Securities launches Solana retail trading service.
Futu Securities announces that Solana (SOL) retail trading services are officially launched on its platform. Eligible retail investors and professional investors in Hong Kong can trade this cryptocurrency through the Futu NiuNiu App starting today. The platform will soon launch SOL simulated trading features to help cryptocurrency novice investors familiarize themselves with trading processes and improve their operational skills.
Deep Insights & Prospects
Ethereum's breakthrough: History repeats, opening a 'monumental' new cycle.
As the Federal Reserve hints at potential interest rate cuts later this year, risk assets—from the stock market to cryptocurrencies—are gaining support. Lower interest rates make yield-bearing digital assets like staked ETH more attractive compared to bonds or savings accounts.
Chinese bank-backed brokerage RWA debut, CMB International launches Solana on-chain fund.
Today, CMB International officially enters the RWA field, partnering with Singapore licensed RWA exchange DigiFT and Solana ecosystem professional service provider OnChain to successfully tokenize its US dollar money market fund on-chain.
Opinion
Starting with Mystonks: Unveiling the 'U.S. Compliance' marketing trap of crypto platforms.
A proper financial institution's standard practice upon identifying suspicious funds is to refuse to accept and return them, while also submitting a report to regulatory authorities. The platform's direct 'holding' of assets raises significant questions about its claimed 'compliance'.
Ethereum hitting $10,000? A comprehensive breakdown from six perspectives.
With the price of ETH surging, significant off-exchange funds are pouring into Ethereum ETFs. Many overlook the actual impact of Ethereum ETFs and institutional purchases, which not only boost sentiment but also represent substantial buying pressure.
