Today's top news highlights:

HYPE briefly broke through $70, setting a new all-time high.

Binance's new product teaser image featuring haystacks, a pun on "Hey Stock," has sparked speculation in the community that it may be related to US stock investments.

Glassnode: Bitcoin recently tested the $75,000 strike price; market direction remains unclear.

News of SIVE's dual listing in the US, a stock heavily invested in by "new stock market guru" Serenity, has been allegedly leaked in advance; Swedish prosecutors are calling for a market manipulation investigation.

Macroeconomic Outlook for Next Week: Divergent Signals from the US and Iran, Focus on Fed Speech and Non-Farm Payroll Data

A whale's 5x leveraged long position in HYPE has yielded a floating profit of over $40 million.

Grayscale: Hyperliquid poised to become a financial giant, challenging the traditional derivatives market.

Regulation & Macro

Jonas Myrdal, the prosecutor at the Swedish Economic Crime Agency, stated that news of Sivers Semiconductors' consideration of a dual listing in the US was posted and continuously promoted by an anonymous account on the social media platform X approximately 48 hours in advance, causing the stock price to surge several times over in a short period. He believes this highly likely involves information leakage and recommends that Nasdaq launch an investigation to assess whether it violates the EU's Market Abuse Regulation. Previously, "new stock market guru" Serenity had written an article expressing optimism about the company, stating that demand in the photonics industry was strong and the photonics business pipeline was growing rapidly.

Macroeconomic Outlook for Next Week: Divergent Signals from the US and Iran, Focus on Fed Speech and Non-Farm Payroll Data

Macro Outlook for Next Week: US stocks closed at a record high in May, boosting market confidence in the reopening of the Strait of Hormuz. Investors will focus on the health of the US economy and labor market, with a busy schedule of economic data potentially influencing Federal Reserve interest rate expectations. Key events to watch: Monday: Fed Governor Powell's remarks, US May ISM Manufacturing PMI; Tuesday: Fed officials' speeches, Eurozone CPI, US JOLTs job openings; Wednesday: US ADP employment figures, ISM non-manufacturing PMI; Thursday: Fed Beige Book, initial jobless claims; Friday: US May non-farm payrolls report. Additionally, Meituan, Broadcom, Tiger Brokers, and others will release earnings reports. Seasonal factors suggest June is the worst-performing month for US stocks, and the market may enter a short-term consolidation phase.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against the founder of Privvy for allegedly defrauding a $12.3 million cryptocurrency company.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit in Houston federal court against Texas resident Nathan Fuller, accusing him of operating a $12.3 million cryptocurrency fraud scheme. Fuller, operating under the name Privvy Investments LLC, claimed to use AI trading bots for high-frequency arbitrage, promising returns of 40% to 50% in 30 to 45 days, and even over 100% in 21 days. Between October 2022 and mid-2024, he raised funds from approximately 150 investors, using only about 3% for trading, embezzling at least $6.2 million, and paying out approximately $5.5 million to early investors through a Ponzi scheme.

The Iranian parliament will pass a plan for "sovereign jurisdiction" over the Strait of Hormuz.

Iranian parliamentary presidium member Salemi stated that Iran's plan to "exercise sovereign jurisdiction" over the Strait of Hormuz is about to be approved by parliament and is expected to become permanent law. Iran has communicated with Oman, and Oman has given preliminary agreement; the plan is expected to be finalized soon.

Federal Reserve Chairman Jerome Bowman outlined a "practical monetary policy decision-making framework," emphasizing a dual mandate and flexible response mechanisms.

Federal Reserve Chairman Jerome Bowman outlined his "practical monetary policy decision-making framework," emphasizing that interest rate policy should be formulated around the dual mandate of maximizing employment and price stability. He stressed the importance of focusing on indicators such as GDP structure, the labor market, and PCE and core PCE inflation, while incorporating feedback from businesses and the market to mitigate the risk of misjudgments based on lagging data. He advocated a flexible and balanced approach when objectives conflict, appropriately "seeing through the noise" when identifying temporary inflationary shocks, but remaining vigilant about the impact of persistent conflicts on inflation expectations, and maintaining policy transparency and consistency.

Project Updates

Binance's new product teaser image featuring haystacks, a pun on "Hey Stock," has sparked speculation in the community that it may be related to US stock investments.

Binance has announced that it will launch a new product on June 1st. The community speculates that it may be related to US stock investment channels, as the image of a haystack in the tweet sounds similar to "Hey Stock".

OpenAI has discussed participating in an IPO with Citigroup and JPMorgan Chase.

Sources say OpenAI has discussed its participation in its upcoming IPO with Citigroup and JPMorgan Chase, and may join Goldman Sachs and Morgan Stanley in preparing for the listing. However, the final participation is still undecided, and other investment banks may also join.

The nation's first green computing power full-stack AI platform was officially launched.

The nation's first green computing power full-stack AI platform has officially launched, integrating one-stop functions such as computing power scheduling and trading, intelligent model invocation, and word token trading settlement. It constructs a full-chain AI service system encompassing "computing power output—model invocation—application implementation—word token settlement." The platform is compatible with domestically produced chips and mainstream computing power architectures, initially connecting to over ten mainstream models from the three major telecom operators and leading technology manufacturers. It can integrate diverse computing power resources nationwide, achieving flexible allocation and efficient supply through intelligent scheduling, providing low-carbon, green, high-quality, and affordable word token trading services.

The Zcash Foundation released an emergency security update for Zebra 4.5.0, fixing several consensus-level vulnerabilities.

The Zcash Foundation has released an emergency security update for the node client Zebra 4.5.0, fixing several consensus-level vulnerabilities, including a sigop counting error in P2SH script parsing (which could cause a consensus fork), a flaw in the NU5 block verification cache logic, a risk of crashes due to transparent address balance overflows, and several crashes and resource exhaustion vulnerabilities in RPC interfaces and memory pool processing. All node operators are strongly advised to upgrade immediately.

Zama founder responds to cUSDC freeze: It's a court-ordered restraining order, not related to the agreement or privacy.

Rand, founder of the Zama protocol, stated that with the assistance of on-chain investigator ZachXBT, the root cause of the cUSDC contract freeze has been identified: a court order was issued against an address associated with the Overnight Finance hackers. This address held approximately $12.5 million in USDC, representing over 99% of the contract's funds, leading to the entire contract being frozen. The freeze is unrelated to the protocol itself or privacy technologies and is not a sanction against Zama. Adhering to compliance and privacy principles, the project has suspended the cUSDC, cUSDT, and cWETH contracts, pending the completion of the investigation and handling of the affected addresses. A detailed post-mortem report will be released.

Investment and financing news

Opinions & Analysis

Santiment: Bitcoin's long/short ratio surges to 2.23, a new high for the year, potentially indicating a short-term pullback.

Santiment's analysis suggests that the ratio of positive to negative comments regarding Ethereum has shifted from FOMO to FUD (Fear of Uncertainty). Events such as Harvard University liquidating its Ethereum ETF holdings and the resignation of Ethereum Foundation researchers have exacerbated the panic. However, the number of non-empty wallets remains a high 192.92 million, more than three times that of Bitcoin. DeFi and staking activity have normalized, and new wallet creation continues at a healthy growth rate, supporting the notion of an "Ethereum network demise." Furthermore, the Bitcoin long/short ratio has surged to 2.23, a new high since 2026. Previous high long/short ratios have been followed by short-term price corrections. The current optimistic sentiment contrasts sharply with the short-selling flows in ETFs, warranting caution.

Glassnode: Bitcoin recently tested the $75,000 strike price; market direction remains unclear.

Glassnode analysis indicates that Bitcoin recently retraced to the $75,000 strike price, an area previously held by nearly $8 billion in short Gamma positions, which pushed the BTC price down to around $72,500. With a large number of options expiring, the market's Gamma structure is beginning to rebuild. During the decline, the implied volatility (ATM) briefly exceeded 35% before falling back to around 32%, and long-term implied volatility (IV) also declined, indicating the market views this as a controlled correction. Over the past 7 days, the options trading structure has been almost perfectly balanced, with both bullish and bearish buy and sell ratios approaching 25%, reflecting a lack of clear directional betting in the market.

Bloomberg analysts: Bitcoin volatility is converging with gold, while IBIT is still significantly outperforming US stocks.

Bloomberg senior ETF analyst Eric Balchunas points out that Bitcoin volatility and correlation are approaching gold levels, a trend that is being underestimated during the current market correction. Despite market volatility, the BlackRock Bitcoin Spot ETF (IBIT) has consistently outperformed US stocks since the escalation of the Iranian conflict, achieving more than 2 times the excess return relative to the S&P 500 ETF (SPY) since its approval. A comparison of the 60-day historical volatility of IBIT and the Gold ETF (GLD) shows that Bitcoin's volatility structure is gradually converging with that of gold, suggesting a possible shift in its asset characteristics.

Analysts say Bitcoin is at a key price level; if it fails to hold, it could fall below $65,000.

Michael van de Poppe, founder of MN Trading Capital, stated that Bitcoin is at a key price level; if it fails to hold, it could fall below $65,000, but he doesn't believe a new low will be reached. The $71,000 area is a key support level and must hold to prevent further pullback. If it holds, the $61,000-$65,000 range will be an excellent buying opportunity; if it breaks through $76,600, a new high is imminent, potentially ushering in a strong altcoin summer rally.

Grayscale: Hyperliquid poised to become a financial giant, challenging the traditional derivatives market.

Grayscale released a report stating that the decentralized exchange Hyperliquid has the potential to grow into a financial services giant, challenging the traditional derivatives and exchange markets with its blockchain infrastructure. Founded less than three years ago, Hyperliquid is projected to generate approximately $800 million in revenue by 2025, with perpetual contract trading volume reaching $2.9 trillion and open interest around $7 billion. Its business has expanded to tokenized stocks, commodities, and prediction markets. Grayscale emphasizes that it has no direct counterparts and, if successful, will reshape the financial landscape. However, regulation remains a key variable, with the platform restricting access for US users and the HYPE token experiencing significant volatility.

a16z crypto: Prediction market infrastructure and mechanism design still have shortcomings, and the risk of market manipulation urgently needs to be addressed.

Scott Duke Kominers, a research partner at a16z crypto, published an article analyzing the value and challenges of prediction markets. Prediction markets aggregate fragmented information through price signals, providing real-time event probability estimates that outperform traditional polls. However, they face infrastructure and market design challenges, including event verification, contract settlement, adequacy of participant information, and potential manipulation risks. If these issues are resolved, prediction markets have the potential to become an important tool for decision-making and information aggregation.

Important data

HYPE briefly broke through $70, setting a new all-time high.

HYPE tokens broke through the $70 mark, setting a new all-time high, and are currently trading at approximately $69.54 per token, with a daily increase of 1.66%.

The whale "lovelystuff" spent $10.44 million betting on the Champions League final on Polymarket and ultimately won $1.15 million.

According to on-chain analyst Ember, the whale "lovelystuff" spent $10.44 million betting on the Champions League final on Polymarket, ultimately profiting $1.15 million. Paris Saint-Germain defeated Arsenal on penalties in the final, but the score was tied 1-1 after 90 minutes. Polymarket used the score from regular time and stoppage time as the final result. The whale had bet $4.41 million on a PSG win but lost the bet on an Arsenal win and the Champions League final, resulting in a total profit of $1.15 million.

A whale's 5x leveraged long position in HYPE has yielded a floating profit of over $40 million.

According to OnchainLens monitoring, HYPE continues to break all-time highs, with its price surpassing $68. The whale address "0x082" has held a 5x leveraged long position in HYPE since December 5, 2025, experiencing a floating loss of over $26 million at one point, but now has a floating profit of over $40.69 million. This address still holds 1.38 million HYPE tokens, worth approximately $94 million.

Analysis: Demand for crypto ETF exposure is diverging, with BTC showing significant cooling and HYPE recording inflows.

US-listed Bitcoin ETFs have seen net outflows for nine consecutive trading days, totaling approximately $2.84 billion, marking the longest losing streak since their launch in 2024. BlackRock's IBIT was the primary source of these outflows. Analysis indicates that institutional demand for Bitcoin ETF exposure has cooled, leading to market divergence: Hyperliquid-related ETFs and some XRP spot ETFs recorded inflows, while Ethereum spot ETFs experienced outflows for 13 consecutive days, totaling approximately $694 million, reflecting a reallocation of funds within the crypto ETF market.

Michael Saylor has released another Bitcoin Tracker update; he may disclose data on his increased holdings next week.

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