Today's top news highlights:

Regulation & Macro

Citron Research founder Andrew Left has been convicted of securities fraud and faces more than 20 years in prison.

Andrew Left, founder of the well-known short-selling firm Citron Research, was convicted of manipulating stock prices using dishonest social media posts. A jury found Left guilty on 13 of 17 charges, including one count of securities fraud. Prosecutors accused him of illegally influencing stock prices and quickly profiting over $20 million between 2018 and 2023 using tweets about dozens of companies. Left stated he will appeal and faces more than 20 years in prison, with sentencing scheduled for August 31.

Brazil's central bank requires crypto service providers to undergo financial audits and tightens licensing rules.

Brazil's central bank has tightened licensing rules for virtual asset service providers, requiring them to undergo independent financial audits before obtaining operating licenses, effective June 1. Auditors must examine the company's financial condition and compliance with anti-money laundering and counter-terrorism financing regulations, including client asset segregation, risk management, and employee training. Cryptocurrency exchanges, brokerage firms, and custody services applying for licenses for the first time must comply with these requirements from the registration process, and existing licensed companies must also undergo independent audits when renewing their licenses. Furthermore, Brazil recently banned 28 betting and prediction market platforms, including Polymarket and Kalshi, and from October 1, electronic forex trading providers are prohibited from using cryptocurrencies for international remittances.

Hong Kong Financial Services and Treasury Bureau: No plans to provide transitional arrangements for existing virtual asset trading service providers.

The Hong Kong Financial Services and the Treasury Bureau stated that it does not intend to provide transitional arrangements for existing virtual asset trading service providers. All those currently engaged in or intending to engage in related businesses should contact the regulatory authorities as soon as possible to initiate the pre-application process. Six existing virtual asset trading platform applicants are still under review. Unless exempted, engaging in any virtual asset trading, custody, providing advice, or management services will require a license, and the proposed regulatory system includes penalties.

Trump said the US and Iran could reach an agreement within a week to extend the ceasefire and reopen the Strait of Hormuz.

US President Trump said he expects to reach an agreement with Iran "within the next week" to extend the current ceasefire and reopen the Strait of Hormuz. Trump said the negotiations are progressing well and expressed optimism about reaching an agreement.

Project Updates

TESSERA was attacked; hackers minted 99 million TSRs and sold them for a profit of $2.4 million.

The TESSERA project on the BNB Chain was attacked. The attacker minted 99 million TSR tokens and sold them, profiting approximately $2.4 million, causing the price of TSR to plummet by 99%. The attacker has deposited the tokens into Tornado Cash. Additionally, the UXLINK attacker is also actively depositing funds into Tornado Cash, currently holding approximately $7.1 million.

Foreign media: Tencent is testing a prototype of WeChat's AI agent.

Tencent is about to launch an embedded AI agent for WeChat, currently testing prototypes to help users complete various operations within WeChat. The compliance approval process is planned to begin as early as this month. After approval, it will first undergo a small-scale external user beta test, followed by a phased full rollout. The official launch date is yet to be determined. Users can access the chat window simply by swiping right on the WeChat main interface. This project has been listed as a top strategic priority, but a large-scale full rollout faces challenges due to insufficient computing power and extremely high internal cost estimates; whether the costs can be covered in the short term remains unclear.

SlowMist: Red Hat cloud service packages suffer npm supply chain attack, affecting over 300 GitHub repositories.

SlowMist monitoring has detected an active npm supply chain attack targeting Red Hat cloud service packages, affecting over 31 packages with approximately 116,000 downloads per week. Over 300 GitHub repositories contain stolen credentials. The attack techniques are highly similar to the Shai-Hulud npm attack campaign, including credential collection, malicious repository creation, and automated key leakage. Potential attacker behaviors include GitHub and npm token theft, AWS, GCP, and Azure credential theft, SSH and Kubernetes key collection, and local environment and wallet data leakage. It is recommended to immediately remove or downgrade affected versions, audit CI/CD pipelines, rotate keys and credentials, retain logs, and rebuild exposed development machines or runtime environments from clean images.

OpenSea's product marketing head revealed that they will launch a perpetual contract trading feature.

Zack Brenner, Head of Product Marketing at OpenSea, revealed that the platform will launch a perpetual contract trading feature and asked users on the X platform if they wanted to experience it early. When asked if it was powered by Hyperliquid, Brenner confirmed with a "YES".

Binance has opened up trading in over 7,000 U.S. stocks and ETFs to non-U.S. users, with a minimum investment of $5.

Binance has opened trading in over 7,000 US stocks and ETFs to non-US users, supporting zero-commission fractional shares with a minimum investment of $5, and accepting cryptocurrencies such as USDC, USDT, and BNB. Trading is handled by brokerage Nest Trading, with Alpaca managing brokerage custody and profit sharing. Binance also plans to launch "bStocks," based on the BNB Chain, allowing users to convert their stock holdings into on-chain tokenized assets for instant settlement and potential DeFi applications.

Binance Alpha has opened the second round of RateX (RTX) airdrops.

Binance Alpha has opened the second round of RateX (RTX) airdrops. Users with at least 240 Binance Alpha Points can claim 26 RTX tokens on a first-come, first-served basis. If the reward pool is not fully distributed, the points threshold will automatically decrease by 5 every 5 minutes. Claiming the airdrop will cost 15 points, and users must confirm their claim within 24 hours, otherwise it will be considered a forfeit.

Binance Alpha will open its airdrop for collection and trading at 15:00 today, with a minimum requirement of 240 points.

Binance Alpha will open the airdrop for collection and trading at 15:00 (UTC+8) today. Users holding at least 240 Binance Alpha Credits can claim the token airdrop on a first-come, first-served basis until the airdrop pool is exhausted or the event ends.

The Solana Foundation is recruiting teams to build on-chain perpetual contracts and derivatives applications, and will provide funding and technical support.

The Solana Foundation is recruiting teams to build fully on-chain perpetual contracts, derivatives, and related trading applications, providing distribution channels, technical support, and funding. Teams meeting the following criteria are being sought: fully on-chain execution; competitive pricing through true price discovery; Solana-first design with application revenue structurally flowing back to the network at the protocol level; innovation; experienced teams; and open-source code. Teams building peripheral infrastructure and products such as front-end integration, vaults, structured products, aggregators, advanced trading interfaces, market making operations, and social trading are also welcome.

Binance will remove several spot trading pairs, including AXL/BTC and CRV/BTC, on June 5th.

Binance will remove and cease trading the following spot trading pairs at 11:00 AM (UTC+8) on June 5, 2026: AXL/BTC, CRV/BTC, EGLD/BTC, OPN/BNB, POL/ETH, QTUM/USDC, and SKY/BTC.

Binance Futures will launch ANTHROPICUSDT U-margined Pre-IPO perpetual contracts today.

Binance Futures will launch ANTHROPICUSDT U-margined Pre-IPO perpetual contracts on June 2, 2026 at 12:30 (UTC+8), tracking the Anthropic PBC stock price, with a maximum leverage of 20x.

Charles Schwab plans to launch a cryptocurrency spot trading service for financial advisors in 2027.

Charles Schwab plans to launch cryptocurrency spot trading for advisors on its custody platform in 2027, and progress is going smoothly, with the launch expected closer to mid-year. Spot trading for Bitcoin and Ethereum has already been launched for retail clients this year. Advisors currently prefer allocating crypto assets through exchange-traded products, but interest in spot trading is rising.

CME Group launched 24/7 trading for crypto futures and options, with trading volume reaching approximately $50 million in its first weekend.

The CME Group has officially launched 24/7 trading for cryptocurrency futures and options. Over 7,200 contracts were traded in the first weekend, with a notional value of approximately $50 million. Bitcoin volatility futures were also launched simultaneously. This move aims to meet clients' demand for continuous liquidity over the weekend, bridging the gap between traditional regulated venues and the 24/7 availability of cryptocurrencies.

edgeX: EDGE token experienced abnormal price fluctuations; the cause is under investigation.

EdgeX posted on its X platform that it has noticed the sudden and abnormal price fluctuations of the EDGE token and is actively investigating the cause. The team will release updates as soon as the information is verified, and reminds users to only follow official channels. Coingecko data shows that the EDGE price is currently at $0.7501, a 42.2% drop in the last 24 hours, having fallen to $0.4015 earlier this morning.

Binance will launch perpetual contracts for Samsung, SK Hynix, and Hyundai Motor on June 2nd.

Binance Futures will launch three USDT-margined traditional financial perpetual contracts between 11:00 and 11:20 Beijing time on June 2, 2026: SKHYNIXUSDT (SK Hynix), SAMSUNGUSDT (Samsung Electronics), and HYUNDAIUSDT (Hyundai Motor). These products track the stock prices of their respective South Korean listed companies, support up to 20x leverage, 24/7 trading, and multi-asset trading, with funding rates settled every 8 hours.

edgeX: The abnormal fluctuations in the EDGE token were due to deliberate manipulation by external parties, not a platform security issue.

EdgeX issued an update regarding the abnormal price fluctuations of the EDGE token, stating that the protocol has not been compromised. This incident was not a hacking attack, exploitation, or security vulnerability, but rather an attempt by certain external parties to deliberately manipulate the EDGE market price. It is a market integrity issue, not a platform security issue. The team is actively investigating and cooperating with relevant exchanges and platforms. A full update will be released after the investigation is completed.

Investment and financing news

Google plans to raise $80 billion in equity funding to expand its AI infrastructure and computing power.

Alphabet, Google's parent company, plans to raise $80 billion in equity funding to expand its AI infrastructure and computing power. Berkshire Hathaway is reportedly investing $10 billion through a private placement.

Anthropic has secretly filed a draft S-1 prospectus with the U.S. Securities and Exchange Commission.

AI company Anthropic has secretly filed a draft S-1 prospectus with the U.S. Securities and Exchange Commission (SEC). The confidential filing allows for prior review and communication with regulatory agencies before formally disclosing financial and fundraising details.

Robinhood completes its $180 million acquisition of WonderFi, entering the Canadian crypto market.

Robinhood Markets has completed its $180 million acquisition of Canadian digital asset services company WonderFi. WonderFi operates two regulated crypto platforms, Bitbuy and Coinsquare, and its users will be invited to migrate to the Robinhood app. With this acquisition, Robinhood now has over 1 million financial customers outside the US, 300,000 of whom are from WonderFi. The acquisition was first announced in May 2025 but was delayed due to technology deployment and regulatory approvals. HOOD shares fell 3.8% to $90.73 on Monday and are down 21.3% year-to-date.

Mecka AI, a robotics AI data training company, has raised $60 million in funding, led by Framework Ventures.

Mecka AI, a robotic AI data training company, has raised a total of $60 million in funding, including a $25 million Series A round completed in November 2025, with an additional $35 million raised subsequently. This round was led by Framework Ventures, with participation from Menlo Ventures, SV Angel, Kindred Ventures, and a former researcher from Google DeepMind. The company collects human motion data using customized hardware and iPhones to train embodied AI models. The founder and CEO stated that based on signed contracts, they expect annual recurring revenue of $100 million and currently have 40 employees.

IREN secures $3.65 billion in GPU funding backed by a Microsoft AI contract

IREN Limited announced the completion of a $3.65 billion investment-grade GPU financing round to fulfill its AI Cloud contract with Microsoft. The financing comprises a $2.1 billion US private placement (fixed rate approximately SOFR + 2.13%) and a $1.55 billion DDTL loan (floating rate SOFR + 2.25%), with an overall weighted average cost of debt of 6.00%. With customer upfront payments, the facility covers approximately 96% of the $5.81 billion GPU capital expenditure under the Microsoft contract at a combined financing cost of approximately 3.31%, and is secured by related GPUs and cash flow. This will support IREN's expansion of its AI Cloud capacity to 480MW by the end of 2026.

Opinions & Analysis

Analysis: Bitcoin falls to a two-month low, and its divergence from the stock market continues to deepen.

Bitcoin fell to a near two-month low on Tuesday, further diverging from the stock market. Bitcoin briefly dipped to $70,023, its lowest level since April 7, a daily drop of over 4% and a weekly decline of 8%, down 44% from its October peak. Meanwhile, the S&P 500 and Nasdaq indices hit record highs. The head of research at Bitrue Research stated that Bitcoin is currently the only major asset in decline, indicating it is more like a high-beta risk asset than an independent hedging tool. Santiment pointed out that the gap between traditional stocks and crypto is undeniable, with capital rotating from crypto to stocks, but this pattern won't last forever. When mainstream influencers are discussing stock dominance, it usually indicates that market sentiment is overly biased towards stocks, and market movements often contradict the expectations of most traders.

Strategy's Bitcoin sale timing sparks controversy over a prediction pool on Polymarket with over $20 million in trading volume.

Strategy's disclosure last week of selling 32 bitcoins has sparked controversy in a prediction pool on the Polymarket platform with over $20 million in trading volume. The market's question is whether Strategy sold its bitcoin holdings before May 31st. Documents show the sale occurred between May 26th and 31st. Those supporting "yes" argue that the sale occurred before the deadline; the other side argues that the information was not publicly available when the market closed, and should be ruled "no." The market has been ruled "no" twice, but each time there have been objections, and it is currently in the final review stage. A note on Polymarket's updated page states that "confirmation outside the market timeframe is not compliant," seemingly supporting the "no" side. The core of the controversy is whether the prediction market's outcome should be based on the actual time of the event or the time when the evidence was made public.

Important data

Huang Renxun mentioned that most stocks have seen gains exceeding 100% this year.

Among Nvidia's portfolio stocks, INTC has risen 177.63% year-to-date, CRWV 57.36%, COHR 86.74%, NOK 149.62%, LITE 134.39%, and MRVL 145.47%. Some of these stocks have been mentioned by Jensen Huang in public.

Mt. Gox transferred 10,300 BTC to a new wallet after two months, equivalent to approximately $731 million.

Two months later, Mt. Gox transferred 10,306 BTC (approximately $730.78 million) to a new wallet, possibly its own.

Bitcoin spot ETFs saw a total net outflow of $484 million yesterday, marking the 11th consecutive day of net outflows.

On June 1st, Eastern Time, Bitcoin spot ETFs saw a total net outflow of $484 million, marking the 11th consecutive day of net outflows. Morgan Stanley ETF (MSBT) saw a net inflow of $6.1434 million, with a historical total net inflow of $239 million; BlackRock ETF (IBIT) saw a net outflow of $440 million, with a historical total net inflow of $63.367 billion. The total net asset value of Bitcoin spot ETFs is $91.16 billion, with a net asset value ratio of 6.37%, and a historical cumulative net inflow of $55.179 billion.

A whale deposited 9,000 ETH into Bitfinex and held it for 5 years, making a profit of $14.37 million.

A whale deposited 9,000 ETH ($17.86 million) into Bitfinex after holding the assets for five years, making a profit of $14.37 million. The whale initially withdrew 10,000 ETH, which was worth $4.63 million. Of these, 1,000 ETH ($1.147 million) were transferred through TornadoCash, sold, and then deposited into Kraken.

Strategy disclosed for the first time that it sold 32 BTC, netting $2.5 million.

Regulatory filings revealed that MicroStrategy (now operating under the Strategy brand) sold 32 bitcoins for a total value of approximately $2.5 million, with an average selling price of approximately $77,135 per bitcoin.

Hyperliquid's RWA open interest reached a record high of $3 billion.

Hyperliquid's Real-World Assets (RWA) open interest reached a record high of $3 billion. Since its launch in October 2025, HIP-3's open interest has been setting new records every month.

Cobie's associated addresses collected 20 million LDO tokens and transferred them to multiple exchanges, amounting to approximately $6.58 million.

Whale Loracle has completely closed out its short positions in HYPE, incurring losses exceeding $46 million.

The address associated with Fenbushi Capital appears to have sold 11,101 ETH; if sold, it would result in a loss of $11.79 million.

An address associated with Fenbushi Capital appears to have sold 11,101 ETH and transferred $21.94 million worth of ETH to an Amber Group deposit address at a price of $1,977.24. This address withdrew 33,398 ETH (approximately $101 million) from Binance between February and April 2024 at $3,039.36 each; selling it would have resulted in a loss of $11.79 million.

Ondo's perpetual contract platform, Ondo Perps, will launch on June 9th.

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