小k说

This Thursday (June 13), the U.S. dollar stablecoin USDC issuer Circle will go public on the NYSE under the stock code CRCL, seeking to raise a maximum of $896 million. On the eve of the listing, the stock price of China's Everbright Holdings surged 44% in five days, unexpectedly revealing Circle's eight-year secret relationship with Chinese capital.

One, The Chinese Capital Chess Game Behind Everbright's Surge
2016 was a key year for Chinese capital's deep involvement in Circle:
- IDG Capital continuously led the Series C and D rounds, with Baidu, Everbright Holdings, Wanxiang, and CICC collectively co-investing;
- IDG founder Xu Xiaoge bluntly stated: 'Investing in Circle is about bringing American technology back to China';

Big news! Just yesterday (June 2), FOX's star financial reporter Eleanor Terrett dropped a bombshell - the U.S. Senate may vote on the (GENIUS Act) this week! (Note: This is the first time in history that stablecoins will have national-level legislation!)

It is said that bipartisan lawmakers are now locked in a room negotiating amendments, and the latest polls show the public is urging swift action. After the Senate resumes today, they are supposed to vote on a defense official nomination, but in reality, everyone is focused on this act. Republican leaders have directly stated: The Senate must pass it this week!

xdm, James Wynn is crazy!!! Xiao K saw on ARKHAM that James recharged 203.7 billion PEPE to Binance Exchange again 2 hours ago, worth 2.82 million US dollars; in the past 3 hours, a total of 443.7 billion PEPE has been transferred to the exchange, with a total value of 6.17 million US dollars. This address opened a position at a low point on the first day of PEPE's launch, with a return rate of more than 4721 times. Before today's sell-off, there had been no PEPE spot operations for 1 month.

ARKHAM on-chain monitoring: https://intel.arkm.com/explorer/address/0x441730ecf7a60f78FE81C13964A7E19392f653D8
As of 9:33 am today, 24 hours after James Wynn retired from the market yesterday, his position on Hyperliquid has lost $14.77 million in 24 hours, giving back more than half of his total profit. As of 10:15 am today, James Wynn's total historical profit on Hyperliquid has retreated to around $9.12 million, a significant reduction from the $25 million before his brief exit yesterday, with a retreat of about 63.5%. In just one day, the money lost is enough for Xiao K to make in ten lifetimes.

It's so exciting xdm. From May to now, Hyperliquid has collected a total of 55.4 million US dollars in fees. On May 21, the fees and agreement income reached the peak since 2025, with a single-day fee of 4.65 million US dollars. This was the day when James and Insider opened a counter-trade and the position reached 1.2 billion for the first time.
Hyperliquid’s transaction fee is calculated based on the rolling transaction volume of the past 14 days. The basic fee rate for Takers with a transaction volume of more than 2 billion US dollars is 2.6 per 10,000. James alone can contribute hundreds of thousands of dollars in transaction fees, and there are also a lot of intangible benefits such as platform exposure. At the same time, HYPE also set a new record high, with a 24-hour increase of 14.2%. What a win!!!

Phenomenon Chapter: Top-tier Gathering or Scythe Feast?
On May 22, the Trump National Golf Club in Washington was brightly lit, hosting a banquet dubbed the 'Oscars of the Crypto World' that went viral online! The entrance ticket costs a staggering $148 million! The top 220 holders of TRUMP coin spent heavily to enter, with Sun Yuchen pouring in $20 million to secure the top spot, Wintermute squeezed into the top three with 400,000 coins, and there was even a 'lucky guy' Morten who made it to 188th place with just a $1,200 transaction fee!

The banquet scene was star-studded: Justin Sun, the Delphi duo, former NBA star Lamar Odom, Magic Eden CEO, and other top-tier figures appeared ✨ After the event, there were White House VIP tours and TRUMP NFT souvenirs, which could be called the 'Emperor Experience Card' of the crypto world! However, outside protesters raised signs reading 'Crypto Corruption', and Democratic lawmakers fired back overnight; is this operation an industry feast, or a celebration for the scythes?

xdm, Little K's instant noodles just made are already cold—Sui's largest DEX Cetus was hacked for 260 million USD! The hacker is crazily laundering money across chains, SUI tokens collectively plummeted over 80%+. Is this a technical vulnerability or an inside job? Little K, holding a trembling coffee, brings you live coverage!

1. Event overview: How did 260 million USD evaporate?
🕵️ Attack method: Again with a calculation precision vulnerability! (Old trick QAQ).
💰 Amount stolen: 223 million USD confirmed, 162 million urgently frozen (recovered a little bit).
🚨 Market reaction:
- SUI suddenly plummets 7%, shit coin skyrockets (SQUIRT down 96%!).

xdm, Bitcoin has broken 110,000 USD! Boohoo, from pizza to sky-high prices in 15 years, you would have profited at any time! But why do 99% of people still miss out? Today, Xiao K tears up and reveals the most genuine greed and fear of human nature!

1. Zhihu girl VS Bitcoin: The "missed opportunity" of turning 6000 into 230 million
In 2011, a college student asked: "How to manage 6000 bucks?"
Bitcoin big shot Chang Jian replied instantly: "Buy Bitcoin, see you in five years."
In 2025, if you had all-in on Bitcoin with that 6000 bucks, it would directly turn into 230 million!

But the ending is heart-wrenching:
- She didn't buy it, instead took the money to travel

As stated, NYAN halved by 37% in one day, FDV only left $5 million, evaporating 99% from its peak! This is not "natural selection", it's simply a harvesting game by the project party and VCs!

1. List of chain games that have ceased operations: Which one did you take over?
Recently crashed "star" projects are quite spectacular:
- Nyan Heroes (Raised $13 million): Top tier on Solana, millions of test players, now the token is worthless

- Blast Royale (Raised $5 million): Dragonfly platform, directly shut down in June

- Zombie version of chain games: IP can't save it, operations stopped in July

- The Mystery Society (Raised $3 million): Disney team? Development paused

XDM take note! PYTH will unlock 2.1 billion tokens this week, directly accounting for 58.6% of the circulation! This wave is comparable to the crypto "flooding the cat's den", with 320 million USD worth of chips dropping down. Is it bottom-fishing or getting buried? Little K is trembling and starting to talk~

1. PYTH unlock: ecological development or harvesting meow meow fist?
Data express:
- 2.1 billion PYTH unlocked, worth 320 million USD
- Among them, 1.13 billion tokens are for ecological development (170 million USD), and 530 million tokens are for Publisher rewards (82.1 million USD)
- Private placement and protocol development each take 250 million and 210 million tokens

Little K's sharp comment: 58% of circulation being unlocked, is this really "unlocking"? Clearly, it's "unbinding"! The team's and institutions' costs are as low as the soles of their feet; can the little ones withstand this selling pressure?

XDM, Xiao K will discuss several key events in the crypto circle that must be watched next week — Trump's themed dinner, the US stablecoin bill vote, Solana annual summit, each of which could ignite the market! Is it an opportunity or a trap? Xiao K will highlight the key points for you!

1. May 19: Final vote on the US stablecoin bill
Event: (GENIUS Bill) Final vote to determine the fate of stablecoins like USDT, USDC
Key Content:
- Large institutions (assets > 10 billion dollars) directly regulated by the Federal Reserve
- Small institutions regulated by states, but must hold 100% reserves in dollars/government bonds
- New provisions: Ban technology companies from arbitrarily issuing coins + strengthen consumer protection

Family members, Little K is about to enter detective mode! Trump's daughter USD1 just turned one month old and rushed into Binance with a 2 billion dowry! The second son is the witness, and Sun Yuchen contributes 75 million, this plot is more thrilling than (White House's Palace Drama)!

Is this 'presidential special investment' or 'family business expansion'? Little K wants to use a magnifying glass to uncover the tricks!

🚀 USD1's 'cash ability': The crypto world's first princess's dowry list
「High-society marriage scene」:
• World Liberty Financial (Little K refers to it as 'Money Group') issues a token, second son Eric dressed sharply as the greeter

xdm, today little k is going to talk about a magical realism drama - the big shots in the crypto circle are lining up to ask for a Trump pardon! CZ, SBF, Roger Ver are frantically submitting applications, even 'Dark Web King' Ross Ulbricht is out early, boohoo! Is this a political deal or an industry redemption? Little k will take you through the power games behind it!

1. Who is applying for a pardon? The 'survival instincts' of the big shots in the crypto circle.
① CZ (Zhao Changpeng) - Father of Binance.
- Charges: Violating the Bank Secrecy Act, sentenced to 4 months + fined 50 million dollars.
- Demands: Money laundering charges cannot be dismissed, but wants to return to Binance.US management.

xdm, Little K wants to chat with you about the magical market of Ethereum staking while sucking on a lollipop — ETH rising 40% is just an appetizer, the real wealth code is hidden in staking tokens like LDO, EIGEN, RPL! BlackRock and Grayscale are collectively all in, Hong Kong ETFs are taking the lead, is this wave of staking a true gold mine or a leeks cutting machine? Little K uses claws to peel back the data to show you the essence!

1. Why has the staking sector suddenly exploded?
Three nuclear bomb-level catalysts:
- BlackRock and Grayscale are madly flirting with the SEC: requiring that Ethereum ETFs must have staking functions, 5% annualized returns beat US Treasuries

Folks! Today Xiao K will take you to uncover the next trillion-level opportunity in the crypto world—RWA (Real World Asset Tokenization)! JPMorgan and BlackRock are secretly positioning themselves, and a $30 trillion market is about to explode! Hold on tight, folks, Xiao K will reveal: which RWA tokens can multiply by 10? How can retail investors take advantage of institutional investors?

🔥 Nuclear-level trend: What is RWA? Why can it drive the bull market?
RWA = Turning houses, bonds, and gold into small tokens on-chain!
- BlackRock: $640 million beloved child $BUIDL
- JPMorgan: Using blockchain to handle trillion-level auto loans
- Hong Kong government: $6 billion digital green bonds, environmentally friendly and profitable!

Dear ones, Little K has been overwhelmed by the market these past few days! BTC has returned to the $100,000 mark after 3 months, and ETH has surged 20% in a single day! Is this a return of the bull market or a case of 'don't run, fellow countrymen'? Little K will quickly help you uncover the truth behind it and see if altcoins can continue to soar~


🔥Three fires of explosive growth: Who ignited the market, meow?
1. Easing of U.S.-China tariffs

The Chinese Vice Premier visits the U.S. for talks, and the market expects 'tax pause'; risk assets are collectively dancing! Even gold is partying with BTC.
2. The Federal Reserve is taking a dovish approach and distributing sweeteners!

The probability of interest rate cuts in July has soared to 75%, and liquidity expectations have instantly rebounded! Institutions hurriedly grab shares, fearing they might miss the last train.

Little K will today expose Trump's "Crypto President" antics—earning 300 million dollars in the first hundred days, issuing a Meme coin that directly lets the retail investors fill the White House banquet? Sob sob sob this "national-level ICO" even made Sun Gan exclaim that it was professional!

1. Phenomenon: The White House turns into a mining site, the president personally issues coins.
Magical realism record:
- $TRUMP Coin market value skyrockets to 20 billion, Trump casually says: "I hear it's very successful?"
- Officially priced: The first 220 buyers of coins get a presidential dinner, and the top 25 also get a VIP tour of the White House (Little K also wants to sneak a selfie!).
- Abu Dhabi tycoon spends 2 billion to buy Trump's stablecoin USD 1, Sun Yuchen recharges overnight to climb the rankings.

Dear ones, Little K is going to wake up those novice retail investors who shout "the altcoin season is here" every day! Bitcoin has risen to $100,000, and your altcoins are still playing dead? Don't worry, it's not the market's problem; it's that these little fools haven't figured out this chess game yet!

1. The truth of Bitcoin sucking the life out of the market: Institutional investors only recognize BTC.
Phenomenon: BTC's market share is 60%; institutional funds are rushing into ETFs, and giants like BlackRock and Fidelity don't even consider altcoins!

Little K cries and analyzes:
- Altcoins? In the eyes of Wall Street, they are just "gambling chips"; BTC is the "digital gold", hm!

Little K came today with a melon basket—— Ripple actually wants to swallow Circle for 5 billion dollars! This is not a cat fight; it's a "battle for the throne" in the stablecoin world! Whoever wins can sleep with the global financial pipeline!

1. Why did Ripple suddenly set its sights on Circle?
Phenomenon: Ripple just reconciled with the SEC, then immediately reached out for 5 billion to buy Circle (the biological mother of USDC), but was slapped away! Yet Ripple is still lurking in the corner, ready to access its little treasure vault!

Little K tilts head to analyze:
- Stablecoin = Financial circle's pancake: The current market size is enough to buy 250 billion strawberry cakes! Whoever holds the stablecoin is the Tony teacher (the one with scissors) of the crypto world! Ripple's own RLUSD has a market cap of only 300 million, in the face of USDC's 62 billion... it's simply a small transparent person!

Dear ones, Xiao K is here to deliver the 'Wealth Code Weekly'! Next week (4.28-5.4) there are many major events in the crypto world, non-farm data, TOKEN2049~ which are opportunities? Which are traps? Xiao K will unravel it!

April 29: Hyperliquid fee changes significantly, can staking HYPE save 40%?
Core changes:
- Contract taker fee rises to 0.045% (originally 0.035%)
- Spot taker fee doubles to 0.07%
- Staking HYPE can save up to 40% in fees

Xiao K hits the blackboard~
This wave is clearly 'forcing you to stake'! HYPE may spike in the short term, but if protocol revenue doesn't increase, it's just harvesting retail investors~ Contract traders beware of soaring costs, high-frequency trading is crying.

1. Phenomenon: New targets for institutional entry
In 2025, SOL will become the most favored crypto asset by listed companies after BTC. Real estate tech company Janover transitioned to DeFi, heavily investing 317,000 SOL tokens, while consumer goods giant Upexi invested nearly $100 million to hedge risks, confirming that "enterprise-level crypto allocation" has entered the 2.0 era.

2. Core Logic: Threefold driving force
- Yield Combo: Staking annualized 5-7% + investment in ecological projects + node operation revenue, far surpassing traditional fixed income products;
- Technical Moat: 400ms block time + 90% survival rate of ecological projects, institutions state, "This is a blockchain that can be implemented."