Today's news tips:
1. The US SEC questions the legality of the Ethereum and Solana staking ETFs submitted by REX
2. The LOUD token sale has ended. Users are expected to receive 225,000 and 56,250 LOUD in the two phases respectively.
3. Analysis: The escalation of the trade situation triggered a weekend crypto market correction, and risk aversion sentiment intensified
4. MegaETH has restored control of account X
5.Cetus: Segregated funds on Sui have been transferred to a multi-signature trust wallet
6. About 20 crypto-attacks occurred in May, with a total loss of $244 million
7. Kraken starts paying FTX creditors, US and international customers will receive funds in two batches
8. NFT transaction volume fell 16.76% to $105.7 million in the past 7 days, and the number of buyers and sellers increased
Regulatory/Macro
Next week's macro outlook: Non-farm payrolls are coming soon, Trump is stirring up trouble
This week, U.S. Treasuries posted their first monthly decline this year. The dollar fell for the fifth consecutive month, marking its longest losing streak since 2020. Spot gold fell about 2% on Friday, barely achieving five consecutive months of gains, and the monthly line closed almost flat. As traders weighed the Fed's cautious attitude, mixed inflation data and the return of tariff uncertainty this week, the following are the key points that the market will focus on in the new week:
At 08:00 on Monday, Federal Reserve Board Governor Waller will speak on the economic outlook at the 2025 Bank of Korea International Conference;
At 00:45 on Tuesday, Goolsbee, 2025 FOMC voting member and president of the Chicago Fed, participated in a question-and-answer session;
At 01:00 on Tuesday, Federal Reserve Chairman Powell delivered an opening speech at an event;
Tuesday 22:00, US JOLTs job vacancies in April, US factory orders monthly rate in April;
At 00:45 on Wednesday, Goolsbee, 2025 FOMC voting member and president of the Chicago Fed, participated in a question-and-answer session;
Wednesday 20:15, US ADP employment data for May
At 20:30 on Wednesday, 2027 FOMC voting member, Atlanta Fed President Bostic, and Federal Reserve Board member Lisa Cook attended the "Fed Listens" event;
At 02:00 on Thursday, the Federal Reserve will release the Beige Book on economic conditions;
Thursday 19:30, US Challenger Enterprise Layoffs in May
At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending May 31 and the U.S. trade account in April
At 00:00 on Friday, Federal Reserve Board Governor Kugler will speak at the Economic Club of New York;
At 01:30 on Friday, Harker, 2026 FOMC voting member and President of the Federal Reserve Bank of Philadelphia, will speak on the economic outlook;
At 20:30 on Friday, the U.S. unemployment rate in May, the U.S. seasonally adjusted non-farm payrolls in May, and the U.S. average hourly wage annual/monthly rate in May will be released.
The focus of next week's data is on Friday's non-farm payrolls, with economists believing that employment will increase by 125,000 in May, according to the median of a Bloomberg survey, after job growth exceeded expectations in March and April. This would keep the average increase over the past three months at a solid level of 162,000. Federal Reserve officials are also waiting for clear information on how trade and tax policies will affect the economy and inflation, so they are likely to remain calm on the labor market report.
To complicate matters, stocks are about to enter one of the most pedestrian months in history. Over the past 30 years, the S&P 500 has averaged just a 0.2% gain in June, compared with an average gain of 0.8% in the other 11 months of the year. Over the past seven decades, the S&P 500 has typically struggled in early June in years following U.S. presidential elections as investors took profits heading into the summer. That’s especially true if the index gets a strong boost in May, which it has this year.
US SEC questions the legality of Ethereum and Solana staking ETFs submitted by REX
According to Bloomberg, the US SEC has questioned the Ethereum and Solana pledge ETFs launched by REX Shares and Osprey Funds, believing that they may not meet the definition of investment companies and ETFs in the Federal Securities Act. The US SEC stated that these funds may have "incorrectly submitted registration statements" and that "disclosures in the registration statements regarding the identities of these funds as investment companies may be misleading." Greg Collett, general counsel of REX Financial, said: "We think we can satisfy the SEC about the investment company issues, and we do not plan to launch the fund until we do that."
USTR extends partial exemptions for China Section 301 tariffs
According to China News Network, the Office of the United States Trade Representative announced on June 1 that it would extend the exemption period of the 301 investigation into China's actions, policies and practices in technology transfer, intellectual property and innovation. The exemption period was originally scheduled to expire on May 31, 2025, and has now been extended to August 31, 2025.
Viewpoint
The cryptocurrency market suffered a sharp drop this weekend, with Dogecoin falling more than 8%, PEPE falling 12%, and Bitcoin prices falling more than 2%, trading just above $103,600. ETH fell nearly 4%, while Ripple (XRP), BNB Chain (BNB), ADA, and SOL all fell 2-5%. Analysts believe that the recession is related to the re-escalation of trade tensions, and market volatility is expected to continue.
Nick Tomaino, founder of 1confirmation, wrote on the X platform that there is a huge difference between a trusted and neutral value store and a "company coin", and understanding this is the key to making people rich or poor with cryptocurrency.
1. Company coins have high internal shareholdings, highly coordinated marketing narratives and jurisdictions. Early purchases can make you a lot of money, but you must grasp the timing and sell before the market finally ends. The value depends on revenue (just like a company), and the upside is limited. The hype will always be hot, but there will always be new shiny targets worth chasing.
2. Trusted neutral means of value storage have a low internal shareholding ratio, an effective early global ownership distribution mechanism, decentralized marketing, and no jurisdictional constraints. Value is based on belief, and there must be firm believers willing to hold the asset rather than any other asset in the world. Trusted neutral means of value storage are the world's most promising investment opportunities with a potential market value of more than $100 trillion. However, most people tend to dive in and over-invest in company coins, but pay insufficient attention to trusted neutral value storage tools.
ZachXBT: SIM swapping/social engineering fraud needs tougher penalties
"SIM swapping/social engineering fraud needs harsher penalties, Canada/EU laws are very lax so threat actors can get away with it," said ZachXBT, an on-chain detective on X Platform. "Many of them are minors, which allows them to get away with more, and their details are protected (which is why I publish their full names regardless of age)."
Michael Saylor: Bitcoin is the perfect capital allocation for everyone
At the Bitcoin 2025 Conference held in Las Vegas, Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), said that Bitcoin is the "perfect capital" that is not only suitable for institutions but also for families and individuals. He believes that both business owners and ordinary people, and even competitors, should allocate Bitcoin. He emphasized that Strategy currently holds more than $60 billion worth of Bitcoin and is committed to promoting the mainstream adoption of Bitcoin.
Michael Saylor also pointed out in his speech that Bitcoin's transparency and anti-censorship characteristics make it more attractive in the current global monetary system. He said: "This is a superior form of asset that anyone can freely hold, transfer and store, and will not depreciate due to government or bank actions. Bitcoin's monetary policy is 'immutable', and this mathematically driven scarcity is attracting more long-term investors."
Project News
Cetus: Segregated funds on Sui have been transferred to a multi-signature trust wallet
Cetus Protocol, a decentralized exchange in the Sui ecosystem that was previously hacked, posted on the X platform that after the on-chain vote was approved, the funds previously isolated on Sui have now been safely transferred to a multi-signature trust wallet managed by Cetus, Sui Foundation and OtterSec, and are now officially entering the next stage of the recovery process. In order to keep the community informed and actively participate, a Space meeting is tentatively scheduled for June 2 to review the hacker attack in detail and share the recovery progress.
Kraken starts paying FTX creditors, US and international customers will receive funds in two batches
Sunil, a representative of FTX creditors, posted on the X platform that Kraken has issued a fund distribution notice to FTX creditor customers. The fund distribution time for FTX US creditors is May 30, 2025 (total debt: US$312 million), and the fund distribution time for FTX international creditors is June 2, 2025.
According to previous news, FTX has announced the launch of the second phase of the user repayment process, which is expected to distribute more than US$5 billion to creditors. They will receive the funds within 1 to 3 business days from today.
Arbitrum Launches Gas Fee Sponsorship Program "ArbiFuel"
Arbitrum, the Ethereum second-layer network, officially announced the launch of the gas fee sponsorship program "ArbiFuel", which aims to help early teams deliver faster, test freely and without worrying about gas fee expenditures. Initially, ArbiFuel will last for three months, from May 30 to August 30, 2025, and will be open to eligible Arbitrum development teams.
Loud! (LOUD) has completed two phases of token sales. The first phase (whitelist phase) raised 200 SOL, and finally received 194.8 SOL. Each participating user is expected to receive 225,000 LOUD. The second phase (public sale, first come first served, wallets in the first phase will not be able to participate in the second phase) raised 205.2 SOL (including the 5.2 SOL quota that was not fully raised in the first phase), which has been oversubscribed and reached the hard cap. When the second phase is oversubscribed, the participation quota of each participating user is expected to automatically drop from 0.2 SOL to 0.05 SOL, and the excess funds will be refunded. Therefore, each person is expected to receive 56,250 LOUD in the second phase. LOUD tokens have not yet been generated, and users participating in the sale need to wait for further announcements.
According to previous news , 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, on a first-come, first-served basis.
$LOUD tokens are now live, IAO claims will open in a few minutes
Loud! tweeted that $LOUD tokens are now live and IAO claims will be open in a few minutes.
MegaETH has regained control of account X
MegaETH tweeted that it has restored control of the X account. A delegate account was previously compromised (and still is), but has been removed and deauthorized. Admin rights were never lost.
Auction of Silk Road founder Ross Ulbricht's prison memorabilia raises $1.8 million in Bitcoin
Ross Ulbricht, the founder of the Silk Road, has raised $1.8 million (about $1.8 million) in pledged bitcoins by auctioning prison memorabilia on the Scarce City platform. The auction items include paintings created by Ross Ulbricht in prison, personal belongings before his arrest, and a prison ID card that was sold for 11 bitcoins (about $1.1 million). Bidders must complete the payment by Monday.
Important data
The total market value of stablecoins exceeds 250 billion US dollars, and USDT ranks first
Coingecko data shows that the total market value of stablecoins has exceeded 250 billion US dollars, currently reaching 250,024,816,027 US dollars, with a 24-hour increase of 0.1%, and a 24-hour trading volume of 61,231,269,308 US dollars. Among them, Tether (USDT) has a market value of more than 153 billion US dollars, accounting for about 61.2%, ranking first; USDC has a market value of more than 61 billion US dollars, ranking second.
About 20 crypto-attacks occurred in May, with a total loss of $244 million
According to PeckShield monitoring, there were about 20 crypto-attacks in May 2025, with a total loss of $244 million, a decrease of 39.29% from April. The five major hacking incidents were: Cetus Protocol was stolen $220 million (157 million has been frozen, equivalent to 71% of the stolen funds recovered); Cork Protocol ($12 million); suspected North Korea-related hacking ($5.2 million); Token MBU ($2.2 million) and MaplestoryU ($1.2 million).
CryptoSlam data shows that the NFT market has seen a significant decline in the past week, with transaction volume falling 16.76% to $105.7 million. The number of NFT buyers increased by 55.35% to 699,471, and the number of NFT sellers increased by 19.22% to 242,898. The number of NFT transactions surged 34.31% to 2,233,547.
Ethereum transaction volume reached 36.5 million US dollars, an increase of 28.43% from the previous week; Polygon transaction volume was about 15 million US dollars, a decrease of 25.88% from the previous week. Mythos Chain transaction volume was about 13.5 million US dollars, a decrease of 3.39% from the previous week; Bitcoin network transaction volume was about 13.2 million US dollars, a decrease of 27.10% from the previous week.
This week's top deals include:
- CryptoPunks #1831 sold for 150 ETH ($389,846)
- CryptoPunks #4868 sold for 76.5 ETH ($201,933)
- CryptoPunks #5586 sold for 70.07 ETH ($185,292)
- CryptoPunks #308 sold for 69 ETH ($174,683)
- CryptoPunks #9494 sold for 66 ETH ($169,021)
