_FORAB

So far, the most credible result I've gathered is that the current wave of account bans is due to the prohibition of crawling data from Twitter's official API.

According to previous official quotes, if a business account wants to retrieve 200 million tweets, it needs to pay over 200,000 USD per month. For companies like gmgn, ai16z, and eliza that do Twitter searches and automated replies, the request volume should be around 1 billion per month.

Some companies, in an effort to save costs, resorted to third-party crawlers and were collectively punished.

At the same time, it has also affected the bloggers who previously mentioned gmgn and ai16z multiple times, as they may be considered related matrix accounts.

This explains why many web3 task platforms have struggled to stay afloat; the API costs have gradually exceeded the platforms' revenues. Every time a user completes a Twitter task and goes to verify it, the platform has to pay to request a batch of data.

It feels like the most cutting-edge technology in the industry right now is not focused on decentralization, peer-to-peer, or theoretical research development.

Instead, it is on anti-witchcraft, counter-anti-witchcraft, faster account creation scripts, server expansion after being overwhelmed, and occasionally being pulled by the boss to write some theoretical articles or white papers that even I don't believe in.

The US stock market has entered the imitation season, and EOS is also joining the fun.

Block One, the parent company behind EOS, previously developed an exchange based on EOS and has submitted an application for a US IPO, even packaging the media outlet CoinDesk that it acquired earlier.

With 140,000 bitcoins in hand, it would become a top-tier stock once listed. Previously, in 2021, due to market conditions, the SPAC listing plan was terminated, and after many years, the old brother is back to raise funds again in the US stock market.

It's uncertain whether this is a signal of the peak in this round of the US stock and cryptocurrency market, after all, those who understand the ICOs of that year know what I mean.

The events in Japan from August to September this year have recently been officially announced in a cluster. There are six major industry events in Japan this year, held in Tokyo and Osaka, including the Solana and Ethereum conferences.

Last year's Hashed annual meeting had few people fighting for tickets, but this year, after announcing a new fund and receiving investment from the Mitsui Sumitomo Financial Group, tickets are now hard to come by.

The same goes for the SBI Group event, where USDC has become the first licensed stablecoin in Japan, making tickets scarce.

The Pump contract on Binance will be renamed back to PumpBTC, with the date set for June 13, which is also the last working day of this week, primarily to make way for Pump fun.

According to previous media reports, the fundraising and tokens for Pump fun are expected to arrive soon next week and will be publicly offered on the Binance exchange.

The king-level project with a valuation of 4 billion is really coming.

好奇去看了看，唱空稳定币那个 Jack Zhang 老哥的公司，员工和合作商的知乎评价，感觉下来空中云汇问题挺大的。

比如：创始人性格扭曲，及其不信任身边人、频繁的员工离职流动、不懂专业但很自信的高管、在上海叫外企、在海外叫华人创业。

既然做合规，话说天天加班，欧盟是不是给考虑处罚一下。

Binance recently released the reserve report for June, which shows an increase in BTC and stablecoin USDC compared to the same period last month, but a sudden decrease in holdings of ETH, BNB, and others. Notably, the holding of ETH has decreased significantly, while SOL, XRP, and others continue to see a reduction.

Summary: Apart from hard currency Bitcoin and stablecoins, other altcoins are being reduced.

During the honeymoon period, I unexpectedly met a few peers.

1. There were indeed a few people who recently made a high-profile defense of their rights and were taken away for tea; the reason was all about creating trouble. Mainly, they couldn't explain why they had been in mainland China for a long time and could access Twitter and TG.

2. Taiwan is an active market; many exchanges want to participate, but some are indeed confused. Some people with mainland passports were reported and deported just after arriving for business or medical beauty visas.

3. The listing of Circle has indeed made many payment companies anxious. Last weekend, I saw many traditional veterans organizing learning sessions, but they are also afraid it might be too late to get involved, so they can only sing empty praises while feeling jealous.

4. In fact, some trendy brands and IP toys have secondary market-making teams. In the past, you could still check K lines and transaction volumes on platforms like DeWu, but later it became too crazy, and higher-level regulations intervened and removed it. Now, apps like Shihuo are secretly supporting it. These gameplay styles are just too familiar from back in the day.

5. Many times, the resources obtained are provided by the market and the platform. If you join a normal VC after graduation and work for 3-4 years, it’s not unusual to encounter investment cases for star projects. Typically, the invested companies are willing to give some face and accept interviews or interactions with lower-level people, but these are all platform resources.

6. Recently, many cryptocurrency traders have moved to play Circle in the US stock market, with a daily trading volume of over 60 million shares. Coinbase's listing only lasted for one day, but Circle has persisted for two days; many cryptocurrency trading groups have recently transformed into US stock groups.

7. After last week's strict regulatory developments in Singapore, some exchanges have indeed notified all mid- to high-level employees to prohibit travel to Singapore. It’s a pity that last year you could still see people in Singapore.

8. The honeymoon trip is still ongoing; Taiwan is indeed a beautiful and open place. When I return to Tokyo on Thursday, I will continue to update – thank you all for your long-term attention, and I will soon return to frequent updates.

The BTC ecosystem Hemi, previously invested by Binance, is expected to launch its token in the next couple of months. Currently, there have been pre-heating activities on Kaito's Yap Market and Cookie's OG badge.

Recently, the promotional pace of these projects has been highly similar. It's unclear whether it was Huma or someone else who kicked off this trend, but Hemi is likely to make its debut token on Binance Alpha.

Similar to other public chain projects on the market, Hemi has also gone through:

Financing -> Testnet -> Mainnet -> Community pre-heating

They have also launched: cross-chain, staking, contract deployment, etc.

Since Hemi has not yet announced its token economics, the airdrop ratios for the participants mentioned above are still unknown. However, the advantage is that Hemi has not conducted any presales or NFT sales, which helps provide more shares for community participants.

In summary, the token launch is approaching, so be prepared.

Successfully met with Mr. Block～

The most OG and largest industry blogger in Taiwan.

@mrblocktw

Just now, the Monetary Authority of Singapore issued another statement, outlining several key pieces of information:

· Service providers involved with functional and governance tokens (such as on-chain voting, membership rights, etc.) will not fall under regulatory oversight.

· However, for teams or individuals that only serve overseas, due to the high money laundering risks associated with such businesses, it will be very difficult to obtain a license in the future, meaning they must be phased out. (There is no room for negotiation)

· Recently, the authorities contacted potentially affected service providers to assist them in formulating an exit plan. (This means the authorities will help you exit)

· At the same time, to facilitate contact, an official email was provided indicating that if one feels they might be implicated, they can email the Monetary Authority. (This implies that self-reporting and whistleblowing are encouraged)

In summary, starting from June 30, 2025, projects and individuals providing token-related services to overseas clients without obtaining a license must cease operations, while functional token projects are not affected (but the definition is very limited), they really have no way out...

Come to Taipei for a honeymoon, just sitting in the hotel ordering takeout,
ended up scrolling to a strange shop.

The owner is a full-time Bitcoin trader,
and a side job shaking milk tea???

The vampire market actually started with the listing of Circle.

SOL micro-strategy Sol Strategies and DeFi Development both fell over 19% and 34% this week, respectively.

Meanwhile, the ETH micro-strategy, which was previously seen as the hope for Ethereum, dropped nearly 60% this week. Yesterday's listing of Circle directly accelerated this phenomenon.

It's hard to imagine the king-level pump fun in the cryptocurrency circle two weeks later, community public offerings, and token issuance.

The institutions that have陪跑 for 5 years have received more than 5 times the return.
The underwriters of the new stocks have received ample intermediary fees.
The Circle that tried to sell and didn’t manage to sell also received fundraising income.

And you, my friend, have to take over the initial public offering of stocks worth 16.8 billion.

In the future, when Musk lands on Mars, USDC will be the universal digital dollar, 17 billion is nothing, shall we consider a market cap of 100 billion?

Tonight's Circle opening has quite a divergence.

The bearish folks believe that Circle is somewhat rushing to go public, continuously raising the fundraising price and issuing more stocks, feeling like they want to cash in on this wave, even using the experience of Coinbase's price halving after its opening for this Circle situation.

On the other hand, the bullish folks are straightforward: BlackRock has bought in, stablecoin crypto legislation, the strongest stablecoin as the first stock balabala...

Tonight's Circle opening has quite a bit of divergence.

The bearish folks believe that Circle is a bit like forcing a duck to the shelf, continuously raising the fundraising price and issuing more stocks, feeling like they want to cash in on this wave, even using Coinbase's experience of being halved after its opening for this Circle situation.

On the bullish side, the reasoning is simple and straightforward: BlackRock has bought in, stablecoin crypto legislation, the strongest stablecoin's first stock balabala...

After a year of waiting, Solana diamond rings are officially circulated in the market. Unlike other projects, in addition to Binance Wallet IPOs, CUDIS is also listed on Bybit's Launchpool, which is considered a dual launch of Binance Alpha + Bybit spot.

The total amount of tokens for this project is 1 billion. Previously, through different rounds of ring sales and institutional fundraising, a lot of operating funds were obtained.

Among them:
Pioneer diamond ring participants, the cost price is 0.1
Ordinary diamond ring participants, the cost price is 0.12
And the cost price of early investment institutions is 0.035

If the diamond ring holder has been active in the past and has obtained higher points, he will get more airdrop rewards, otherwise it is basically a minimum of 5,000 or 3,000.

From the perspective of new participation, the rewards of Bybit's Launchpool are okay this time. If pledged through BBSOL or CUDIS, the annualized returns are 35% and 800%.

The current CUDIS price is 0.096, corresponding to a market value of 96 million, which is indeed a bit underestimated by the community's expectations. The biggest follow-up pressure at present is mainly the unlocking of the pioneer ring participants after 60 days.

If you participate in the secondary trading of CUDIS, you can list the 60th, 90th, and 180th days from today as major unlocking references.

After all, the golden ring worn by the chairman of the Solana Foundation at the BUIDL2025 conference that year was issued by this project. As the son of the official Solana platform, this initial expectation is indeed a bit low.

After a year of waiting, Solana diamond rings are officially circulated in the market. Unlike other projects, in addition to Binance Wallet IPOs, CUDIS is also listed on Bybit's Launchpool, which is considered a dual launch of Binance Alpha + Bybit spot.

The total amount of tokens for this project is 1 billion. Previously, through different rounds of ring sales and institutional fundraising, a lot of operating funds were obtained.

Among them:
Pioneer diamond ring participants, the cost price is 0.1
Ordinary diamond ring participants, the cost price is 0.12
And the cost price of early investment institutions is 0.035

If the diamond ring holder has been active in the past and has obtained higher points, he will get more airdrop rewards, otherwise it is basically a minimum of 5,000 or 3,000.

From the perspective of new participation, the rewards of Bybit's Launchpool are okay this time. If pledged through BBSOL or CUDIS, the annualized returns are 35% and 800%.

The current CUDIS price is 0.096, corresponding to a market value of 96 million, which is indeed a bit underestimated by the community's expectations. The biggest follow-up pressure at present is mainly the unlocking of the pioneer ring participants after 60 days.

If you participate in the secondary trading of CUDIS, you can list the 60th, 90th, and 180th days from today as major unlocking references.

After all, the golden ring worn by the chairman of the Solana Foundation at the BUIDL2025 conference that year was issued by this project. As the son of the official Solana platform, this initial expectation is indeed a bit low.

Pretty good, the compliant exchanges in Hong Kong have found a new stable business.

Helping the mainland police to sell confiscated tokens involved in cases, ultimately converting them back and paying into the national treasury. When the two major exchanges were still in the mainland, they should have handled quite a bit of this business demand.

Very curious, Gate's recent involvement with 30 million u in user losses, how will compensation work? The official announcement suggests that users who owe the exchange do not need to compensate, but those whose accounts were liquidated or reduced to zero due to anomalies seem to have no further updates?

It seems that Binance's frequent Alpha listings lately, along with Bybit + BG's frequent futures trading, have had the biggest impact on Gate.

This amount is likely equivalent to half a year's profit.