PA Daily | Tether holds more than 100,000 bitcoins and 50 tons of gold; Arthur Hayes predicts that Ethereum is expected to rise to $5,000 this year

PA日报
PA日报05/30/2025, 09:00 AM
The Bitcoin spot ETF had a total net outflow of US$359 million yesterday, ending a 10-day streak of net inflows; OpenSea officially released the fully upgraded OS2 platform and will airdrop SEA tokens; the US SEC applied to the court to withdraw the lawsuit against Binance.

Today's news tips:

Pantera Capital reveals it invests in stocks using a “digital asset treasury” strategy

US SEC applies to court to dismiss lawsuit against Binance

Arthur Hayes: Ethereum is expected to rise to $5,000 this year, setting a new all-time high

The blockchain games Realms of Alurya and Wonder Wars announced that they will soon be shut down

OpenSea officially releases fully upgraded OS2 platform and will airdrop SEA tokens

A whale/institution withdrew about $3.99 million of $KAITO from Binance within 8 hours and deposited it for pledge. It had multiple interactions with Continue Capital.

Bitcoin spot ETF had a total net outflow of US$359 million yesterday, ending a 10-day streak of net inflows

Tether CEO: The company holds more than 100,000 bitcoins and 50 tons of gold

Regulatory/Macro

Wall Street Investment Bank Cantor Fitzgerald to Launch Gold-Backed Bitcoin Fund

According to CoinDesk, Wall Street investment bank Cantor Fitzgerald announced that it will launch a gold-hedged Bitcoin fund, which is the institution's first Bitcoin-themed investment product. The fund is planned to run for five years, while retaining the upside of Bitcoin prices, it provides 1:1 downside protection through a gold-pegging mechanism. Brandon Lutnick, chairman of Cantor Fitzgerald, said at the Bitcoin 2025 conference that the product aims to attract traditional investors who are cautious about Bitcoin to enter the crypto ecosystem. Previously, the institution has launched a Bitcoin lending business, and the first batch of partners include crypto lending platform Maple and broker FalconX.

Pantera Capital reveals it invests in stocks using a “digital asset treasury” strategy

According to CoinDesk, crypto investment institution Pantera Capital disclosed in an investor memorandum that it focuses on a portfolio of listed companies holding crypto assets. The main investment targets include: Bitcoin reserve company Twenty One Capital (supported by Tether, SoftBank, etc.), DeFi Development Corp focusing on Solana, and Sharplink Gaming, an Ethereum holding company supported by ConsenSys. Pantera partner Cosmo Jiang said that such "digital asset vault" companies provide stock market investors with a channel to indirectly hold crypto assets. Its closed-end fund operation model may affect the supply and demand of underlying assets, and in volatile markets, financial operations may achieve returns that exceed the rise of the token itself.

The US SEC issued a policy statement on PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance

According to the official website, the U.S. Securities and Exchange Commission (SEC) issued a policy statement on PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance: 1) autonomous staking (node operators use their own crypto assets to participate in network verification); 2) third-party non-custodial staking (asset owners retain control and only entrust verification rights); 3) compliant custodial staking (custodians strictly isolate customer assets and do not use them for operations or re-mortgage). The statement pointed out that the network rewards obtained from the above staking activities are verification service considerations, rather than investment returns based on the management efforts of others, and therefore do not meet the securities identification standards of the Howey test. At the same time, it is clarified that the four types of supporting services (forfeiture insurance, early unbinding, reward reorganization, and asset aggregation) also do not change the nature of the pledge. This policy does not apply to staking services that provide fixed income or use customer assets for trading and other operating activities. The SEC emphasizes that custodians must ensure that pledged assets: 1) are independent of operating funds; 2) are prohibited from lending or re-mortgage; 3) are not subject to third-party recourse. The policy is intended to provide regulatory certainty for compliant staking activities while maintaining law enforcement authority over security tokens.

The leader of the British Reform Party promised to build a Bitcoin reserve and promote legislation supporting crypto assets if elected prime minister

According to CoinDesk, Nigel Farage, leader of the UK Reform Party, announced at the Bitcoin Conference in Las Vegas that if elected prime minister, he would promote legislation supporting crypto assets. Its core policies include: establishing Bitcoin reserves at the Bank of England; passing the Crypto Assets and Digital Finance Act, prohibiting banks from closing accounts due to customer participation in crypto activities; reducing the capital gains tax on crypto assets to a uniform 10%; and explicitly opposing the issuance of central bank digital currencies (CBDCs). Farage declared that "London should become the world's top crypto trading center" and confirmed that the Reform Party would become the first political party in Europe to accept cryptocurrency donations. The latest polls show that the party's support rate continues to rise, but the next general election in the UK is not expected until August 2029. The Reform Party has achieved a breakthrough performance in the local elections in May.

Panama City Mayor: Plans to give priority to ships paying canal fees with Bitcoin, considers setting up a municipal Bitcoin reserve

According to CoinDesk, Panama City Mayor Mayer Mizrachi said at the Bitcoin 2025 conference that he is considering promoting the use of Bitcoin payments in accordance with the El Salvador model. The city has passed a bill allowing residents to use Bitcoin, Ethereum and some stablecoins to pay municipal fees such as taxes and parking fees. Mizrachi specifically proposed to provide priority navigation rights for ships that use Bitcoin to pay Panama Canal tolls, and consider establishing a municipal Bitcoin reserve. This idea is directly inspired by the policies of Salvadoran President Bukele, who became the first country to adopt Bitcoin as legal tender four years ago. At present, the Panama Canal Authority has not yet officially responded to the cryptocurrency payment plan. The canal's toll revenue in fiscal year 2024 reached US$4.9 billion, and an average of 30-40 ships were processed per day.

Paris Saint-Germain Football Club Announces It Has Included Bitcoin in Its Financial Reserves

According to The Block, the French football club Paris Saint-Germain (PSG) announced that it has included Bitcoin in its financial reserves. Pär Helgosson, head of PSG Labs, revealed at the Bitcoin 2025 conference in Las Vegas that the club began buying and holding Bitcoin last year, becoming the first top football club to publicly hold Bitcoin. Helgosson said that PSG converted part of its fiat currency reserves into Bitcoin and still holds these assets. As one of the world's largest football clubs, PSG became the first institution in the sports world to publicly hold Bitcoin. The club also plans to invest in "Bitcoin entrepreneurs" and "Bitcoin projects" and use its 550 million global fan base to help these projects expand their markets.

Coinbase to reopen office in San Francisco

Daniel Lurie, mayor of San Francisco, said on the X platform: "Coinbase is returning to San Francisco after leaving it four years ago and opening a 150,000 square foot office in Mission Rock. San Francisco is an ideal place to start and grow a company. Welcome back." In response, Coinbase CEO Brian Armstrong replied: "We are very happy to reopen an office in San Francisco. Although there is still a lot of work to do to improve the city."

US SEC applies to court to dismiss lawsuit against Binance

According to The Block, the U.S. Securities and Exchange Commission (SEC) has filed documents with the court requesting the dismissal of the lawsuit against the cryptocurrency exchange Binance and its former CEO Zhao Changpeng. In a joint statement submitted to the District Court in Washington, D.C., the SEC said that based on policy considerations, it was appropriate to dismiss the case. The lawsuit began in 2023, and the SEC accused Binance of operating without registration and misrepresenting trading controls. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. A Binance spokesperson called it "an important moment in regulatory policy change." The documents show that the SEC's newly established crypto working group has recently held extensive consultations with the industry. The SEC has recently withdrawn lawsuits against several crypto companies, including Coinbase and Uniswap. SEC Commissioner Peirce said that law enforcement should target clear violations, but will still crack down on violations in the crypto field.

Viewpoint

Tether CEO: Tether is expected to become the world's largest Bitcoin miner by the end of this year

According to Bitcoin Magazine, in addition to disclosing Bitcoin and gold reserves, Tether CEO Paolo Ardoino said at the Bitcoin 2025 conference that the company has invested $2 billion in energy production, and actually invested more in Bitcoin mining, and it is expected that by the end of this year, Tether will become the world's largest Bitcoin miner, a forecast that covers all listed companies. In addition, Ardoino also introduced the company's new AI system built for society. He hopes that the AI agent will have a non-custodial wallet, where the agent will keep the funds and work for itself, without being bound by the rules of others. At the same time, it was announced that the company's AI platform is called QVAC. Finally, Ardoino mentioned the cooperative investment and new projects with Rumble. The two parties will work together to launch the Rumble wallet, which prioritizes Bitcoin and will also provide stablecoin storage functions.

Michael Saylor: If Bitcoin is included in the balance sheet, the probability of success in 5 years will reach 90%

According to Cointelegraph, Michael Saylor, founder of Strategy, said at the Bitcoin 2025 Conference: “If you allocate Bitcoin on your balance sheet, there is a 90% probability of success within five years.”

Arthur Hayes: Ethereum is expected to rise to $5,000 this year, setting a new all-time high

According to Decrypt, Arthur Hayes, founder of BitMEX, predicted at the Bitcoin 2025 conference that Ethereum may hit a record high of $4,000-5,000 this year, with a 50%-88% upside from the current $2,646. He believes that "the most hated L1" often performs well at cyclical turning points, and points out that Ethereum's recent 45% increase has shown signs of recovery. Analysts point out three major driving factors: 1) Ethereum occupies 51% of the underlying network share of stablecoin issuance; 2) Layer2 ecological expansion (such as Robinhood's acquisition of WonderFi, which may launch on-chain equity tokens); 3) Pectra upgrade is successfully implemented. Geoffrey Kendrick, head of digital assets at Standard Chartered Bank, is also bullish, giving a target price of $4,000 in 2025 and $7,500 in 2029. Currently, ETH needs to rise 88% to break through the previous high of $4,878 in 2021.

Project News

Loud will launch the $LOUD token IAO on May 31st, 10% of LOUD will be used for community projects and market making

Loud, the information tokenization protocol based on Kaito, announced that the $LOUD token initial attention offering (IAO) will be launched on HoloworldAI's HoloLaunch platform at 22:00 Beijing time on May 31, with a total fundraising target of 400 $SOL (about 70,000 US dollars). The IAO is divided into two phases: the priority phase is for the first 1,000 $LOUD users, and the community phase is for KaitoAI users who bind Solana addresses and meet the conditions, using a first-come, first-served model. It is reported that the total supply of $LOUD tokens is 1 billion, 45% for IAO, 45% for liquidity pools, and 10% for community programs and market making. After the IAO ends, the raised $SOL and 45% $LOUD tokens will be injected into the MeteoraAG liquidity pool, and then the market will be opened for trading. The transaction fees will be distributed weekly starting about 7 days later. Related reading: A quick look at Loud: An experiment in a decentralized attention market that rewards voices with transaction fees.

Bithumb to List INIT and FLOCK in Korean Won Market

According to an official announcement, South Korean crypto exchange Bithumb will launch INIT and FLOCK in the Korean won market.

Moonshot is now available on avo ($AVO)

Moonshot announced the launch of avo ($AVO) on the Solana chain, with a current market value of approximately US$4.3 million and a 24-hour trading volume of US$12.5 million.

Binance Alpha to List LayerEdge (EDGEN)

According to the official announcement, Binance Alpha will be the first platform to list LayerEdge (EDGEN). Trading will be open on June 2, and the specific time will be announced later. Eligible users need to use Binance Alpha points to claim the airdrop on the Alpha event page. The event page and details will be launched on June 2.

Upbit will list LPT in the KRW and USDT markets, and POKT in the KRW market

According to the official announcement, South Korean crypto exchange Upbit will list LPT tokens in the Korean won and USDT markets, and POKT tokens in the Korean won market.

Upbit to List FLOCK and FORT in BTC and USDT Markets

According to an official announcement, South Korean crypto exchange Upbit will add FLOCK and FORT token trading to the BTC and USDT markets.

The blockchain games Realms of Alurya and Wonder Wars announced that they will soon be shut down

According to Decrypt, two games based on the Ethereum sidechain Ronin, "Realms of Alurya" and "Wonder Wars", announced that they will soon stop operating due to a shortage of funds. The developer Hello Monster said that it failed to achieve key operating indicators and failed to raise funds, so it decided to terminate the operation of "Wonder Wars" and cancel the token issuance. "Realms of Alurya" was forced to go offline due to the sudden termination of cooperation by the publisher Treasure and the break of the capital chain. The team is seeking a solution. This continues the wave of crypto game closures in 2025. Previously, projects such as "Nyan Heroes" and "Ember Sword" had ceased operations for similar reasons. Industry analysis pointed out that financing difficulties and insufficient players are accelerating the market reshuffle.

Coinbase International launches HYPE perpetual contract

Coinbase International announced that it will launch Hyperliquid perpetual contract (HYPE-PERP) trading on Coinbase International Exchange and Coinbase Advanced at or after 17:30 Beijing time on June 5, 2025.

OpenSea officially releases fully upgraded OS2 platform and will airdrop SEA tokens

According to CoinDesk, the NFT trading platform OpenSea officially released the fully upgraded OpenSea2 (OS2) platform, ending the testing phase and opening it to the public. The new version of the platform supports token trading functions for 19 blockchains, marking its transformation from focusing on NFT to a wider crypto market. The platform also launched a new reward system called "Voyages", where users can earn XP points by completing basic operations such as on-chain transactions. Devin Finzer, co-founder and CEO of OpenSea, said OS2 is "the foundation of the new generation of OpenSea." The company's CMO Adam Hollander revealed in a blog that SEA tokens will be issued through a token generation event (TGE) after completing a series of product updates, but a specific timetable has not yet been announced. The token will allow users to redeem accumulated XP points.

Important data

A whale/institution withdrew about $3.99 million of $KAITO from Binance within 8 hours and deposited it for pledge. It had multiple interactions with Continue Capital.

According to monitoring by ai_9684xtpa, the whale/institutional address 0xB8C...dC1dc withdrew 1.79 million $KAITO (about 3.99 million USD) from Binance in the past 8 hours, and then deposited all of them into the Kaito platform for staking. The funds of this address have interacted with Continue Capital many times upstream. At the same time, the information flow related to $KAITO today is concentrated in Loud and Kaito AI accounts, triggering market speculation about the possible entry of institutions.

Bitcoin spot ETF had a total net outflow of US$359 million yesterday, ending a 10-day streak of net inflows

According to SoSoValue data, yesterday (May 29, Eastern Time), the total net outflow of Bitcoin spot ETFs was $359 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF IBIT, with a net inflow of $125 million in a single day. Currently, IBIT's total net inflow in history has reached $49.00 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Fidelity ETF FBTC, with a net outflow of $166 million in a single day. Currently, FBTC's total net inflow in history has reached $11.62 billion. As of press time, the total net asset value of Bitcoin spot ETFs is $128.127 billion, the ETF net asset ratio (market value to the total market value of Bitcoin) is 6.07%, and the historical cumulative net inflow has reached $44.985 billion.

James Wynn's Bitcoin long position was liquidated with a value of $100 million

According to on-chain analyst Ember's monitoring, half an hour ago, whale James Wynn's Bitcoin long positions worth $100 million were liquidated.

Tether CEO: The company holds more than 100,000 bitcoins and 50 tons of gold

According to The Block, Paolo Ardoino, CEO of stablecoin issuer Tether, disclosed at the Bitcoin 2025 conference that the company currently holds more than 100,000 bitcoins (worth more than $10 billion) and more than 50 tons of gold. According to the latest financial report, as of the end of the first quarter of 2025, Tether held bitcoins worth more than $7 billion (based on the then $83,000 per bitcoin), and physical gold bars worth more than $6 billion. Ardoino said that Tether will realize a profit of about $13 billion in 2024, making it the most profitable company in the crypto industry. Regarding the decision to hold gold, he explained that "gold is not competing with Bitcoin, but with fiat currency." USDT is currently the world's largest dollar stablecoin.

Financing

Solana Ecosystem Token Issuance Platform Cooking.City Completes $7 Million Financing, Jump Crypto Leads Investment

Solana ecosystem token issuance platform Cooking.City completed a US$7 million financing round, led by JumpCrypto, with participation from CMT Digital, Mirana, Bitscale Capital and EVG.

According to reports, Cooking.City has proposed a new on-chain issuance model that is sustainable, incentivized, and community-centric, including: value redistribution (redistributing most of the platform fees to developers and users), a "confidence pool" mechanism (token issuers are required to deposit a certain amount of funds in the smart contract in advance), and a social-based value distribution system (introducing a referral rebate system and redistributing fees within the ecosystem, with most of the fees used for community recommendations and transaction rewards, part of which is returned to the token issuer, and the rest is invested in the long-term development of the platform).

Blockchain security protocol Naoris Protocol completes $3 million strategic round of financing

Blockchain security protocol Naoris Protocol has completed a $3 million strategic round of financing, led by Mason Labs, with participation from Frekaz Group, Level One Robotics, and Tradecraft Capital. The funds will be used to develop blockchain security infrastructure under the threat of quantum computing.

According to reports, Naoris Protocol's core products include: plug-and-play network security grid architecture, Layer 1 blockchain compatible with all EVM chains and using post-quantum encryption technology, and PoS consensus mechanism that complies with international security standards such as NIST.

Micro-Brazil International plans to raise up to $300 million to build XRP reserves, develop cross-border payment solutions and blockchain infrastructure

Mobile travel service provider Webus International Limited (NASDAQ: WETO) announced two strategic collaborations: it plans to raise up to $300 million through non-equity financing to establish an XRP reserve for the development of cross-border payment solutions and blockchain infrastructure; and it will renew its national travel cooperation agreement with Tongcheng Tourism Holdings Co., Ltd. (HKSE: 0780.HK). The financing plan will support three major directions: establishing an XRP strategic reserve, developing a wallet and Web3 loyalty system, and accelerating global expansion. The financing plan is currently under discussion and the final terms are to be determined.

Twenty One Capital raises $685 million in financing and is about to merge with a Nasdaq-listed company

Bitcoin vault company Twenty One Capital recently raised another $100 million through convertible senior secured notes, bringing its total financing to $685 million. The company is preparing to merge with Nasdaq-listed Cantor Equity Partners and plans to go public as a Bitcoin Reserve Company. The SPAC is led by Brandon Lutnick, son of former Cantor chairman, and its shareholders include Tether and iFinex. Strike CEO Jack Mallers will serve as CEO. The company disclosed earlier this month that it spent $458 million to buy Bitcoin .

Donut Labs raises $7 million to launch first AI-driven “proxy-style” encrypted browser

Donut Labs, headquartered in New York, announced the completion of a $7 million Pre-Seed round of financing, led by Sequoia, Bitkraft, and HackVC, with participation from ecosystem leaders such as Solana. Donut aims to create the world's first "agent-based" crypto browser, with a built-in AI agent that can identify web page intent and automatically execute on-chain transactions, such as currency swaps, mining, and asset optimization. The browser integrates wallets, DEX, and decentralized network access functions, and plans to develop into a user's crypto financial manager in the future.

Rumi receives $4.7 million in Pre-Seed funding, led by a16z crypto CSX and EV3

AI media company Rumi announced the completion of a $4.7 million Pre-Seed round of financing, led by a16z crypto CSX and EV3. Rumi is committed to transforming passive media content into an interactive experience, where users can contribute computing power and data in exchange for rewards through a "watch and earn" mechanism, and interact with AI in real time. Its decentralized infrastructure supports intelligent analysis of media content, and has established cooperation with TVision, Story Protocol, etc., aiming to create the world's first user-driven intelligent media ecosystem.

Dexari Completes $2.3 Million Seed Round Led by Prelude Ventures and Lemniscap

Decentralized trading platform Dexari announced the completion of a $2.3 million seed round of financing, led by Prelude Ventures and Lemniscap, with participation from several well-known angel investors in the Hyperliquid ecosystem.

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