PA Daily｜Musk's X platform launched the private communication function XChat; Metaplanet purchased 1,088 bitcoins

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Regulatory/Macro

US Treasury Secretary Benson: Defaults that disrupt global markets will be avoided

U.S. Treasury Secretary Jeff Bessant said on Sunday that the United States will never default on its debt as the Senate considers a comprehensive tax and spending bill passed by the House of Representatives that includes a debt ceiling increase. "The United States of America will never default," Bessant said in an interview with CBS. Bessant urged Congress to raise the federal government's debt ceiling by mid-July to avoid a default that would upend global markets.

Fed Governor Waller: Stablecoin is only a payment tool and does not support CBDC

Federal Reserve Board Governor Waller said: Stablecoin is only a payment tool. Stablecoin is a new way to introduce competition in the payment field. Central bank digital currency (CBDC) is not supported.

South Korea's first institutional coin sale transaction occurred, and the ban on institutional crypto transactions was gradually lifted

According to The Block, World Vision Korea, a South Korean humanitarian aid organization, sold 0.55 ETH through the Upbit exchange, becoming the first non-retail institution to complete the sale since South Korea lifted the ban on institutional crypto trading. The Financial Services Commission (FSC) has allowed compliant non-profit organizations and registered exchanges to sell their crypto assets since June 1. The FSC plans to further relax policies in the second half of this year to allow listed companies and professional investment institutions to participate in crypto trading.

Viewpoint

CZ: Now may be a good time to launch a dark pool perpetual contract DEX

CZ posted on the social platform X early this morning that it might be a good time to launch a dark pool perpetual contract DEX. He said that public order books are prone to MEV attacks, increased slippage and increased costs, especially in perpetual contract transactions, where transparent liquidation information may lead to malicious manipulation. He suggested using privacy technologies such as ZK to hide orders and deposits to achieve a safer institutional-level trading environment, and encouraged developers to contact him to discuss possible cooperation.

Project News

Details of Meta’s rejection of Bitcoin reserve proposal revealed: shareholders overwhelmingly opposed

Meta Platforms (META.O) shareholders voted down a proposal to include Bitcoin in the company's financials at its annual meeting this week. More than 4.9 billion shares reportedly voted against the move, with only 3.92 million in favor. Following Microsoft's push for Bitcoin to go mainstream a few months ago, Meta Platforms became the latest major tech company to consider pressuring shareholders to include Bitcoin in its assets. However, like Microsoft, shareholders voted down the proposal due to concerns about volatility. The proposal was submitted by investor Ethan Peck, a representative of the National Center for Public Policy Research, who suggested that the company study the possibility of converting some of its cash and bonds into Bitcoin to better preserve shareholder value.

Musk: XChat is online, supporting "Bitcoin-style" encryption and cross-platform calls

Elon Musk announced that XChat, a new private communication feature on the X platform, supports end-to-end encryption, self-destructing messages, arbitrary file transfers, and audio and video calls without a mobile phone number. This feature is developed based on the Rust language and uses an encryption architecture similar to Bitcoin.

Metaplanet purchased another 1,088 bitcoins, bringing its total holdings to 8,888 bitcoins

Metaplanet, a Japanese listed company, announced that it had purchased 1,088 additional bitcoins at an average price of 15,519,019 yen per bitcoin, with a total amount of 16.885 billion yen. The company currently holds 8,888 bitcoins, with a total investment cost of 122.269 billion yen and an average holding cost of 13,756,658 yen per bitcoin.

Michael Saylor releases Tracker information again, and may disclose BTC increase information next week

Hong Kong-listed cryptocurrency stocks rose, with OKEx rising by more than 30%

Hong Kong stocks of cryptocurrency concept stocks rose, Lianlian Digital (02598.HK) once rose nearly 80%, OKEx (01499.HK) rose more than 30%, and Xinhuo Technology Holdings (01611.HK) rose nearly 9%. Previously, the Hong Kong Stablecoin Ordinance officially became law.

ZachXBT: Taiwan exchange BitoPro was suspected to be hacked on May 8, with a loss of about $11.5 million

According to ZachXBT, a blockchain detective, Taiwan's crypto exchange BitoPro was suspected of being attacked for about $11.5 million on May 8, 2025. The attacker transferred assets from hot wallets such as Tron, Ethereum, Solana, and Polygon and sold them through DEX. The funds then flowed into Tornado Cash or crossed the chain to the Bitcoin network through Thorchain and finally transferred to the Wasabi wallet. BitoPro has not publicly disclosed the incident on X or Telegram, and has only suspended services for "system maintenance."

Ethereum upgrade "Glamsterdam" opens for submissions, expected to go live in 2026

According to Ethereum developer nixo.eth, the next phase of Ethereum mainnet upgrade "Glamsterdam" has opened the collection of head function proposals, and the deadline is June 20. There are currently 5 proposals, covering on-chain performance and protocol optimization. The upgrade plan will be launched after Fusaka is completed , and the final launch time is expected to be 2026. Non-core proposals will enter the screening stage after July.

Security agency: Nervos cross-chain bridge Force Bridge was suspected to be attacked, with a loss of about $3 million

Blockchain security agency Cyvers Alerts issued an alert that the Nervos network cross-chain bridge Force Bridge was suspected to be controlled by hackers, involving the theft of approximately $3 million in assets, including 257,800 USDT, 53.9 ETH, 898,300 USDC, 60,400 DAI and 0.79 WBTC. The attacker has converted all assets into ETH and transferred them to Tornado Cash. The Nervos team has urgently suspended all contracts and is actively investigating the incident. Magickbase has previously reported abnormal activity on Force Bridge.

Binance to launch MUBARAK/TRY trading pair and open robot service

According to Binance’s announcement, the MUBARAK/TRY spot trading pair will be launched at 16:00 Beijing time on June 3, and the spot algorithm order service will be opened for the pair at the same time. At the same time, the INJ/USDC trading pair will also support spot grid and DCA (cost averaging) trading strategies.

Binance: You need to hold at least 223 Binance Alpha Points to receive 1,111 EDGEN airdrops

According to Binance's announcement, the platform has taken the lead in launching LayerEdge (EDGEN) tokens, and trading will be opened at 18:30 (Beijing time) today. Eligible users (holding at least 223 Binance Alpha points) can claim 1,111 EDGEN airdrops on the Alpha event page starting at 18:30 (Beijing time). Claiming will consume 15 Alpha points and must be confirmed within 24 hours. Failure to confirm will be deemed as abandonment.

TON: A fix has been released to restore block creation, the problem may be related to the main chain scheduling queue processing error

TON Status stated that the on-chain block production has been restored and a quick fix has been released. Block production can be restored by updating only a few main chain validators. The incident may be related to an error in the main chain scheduling queue processing, and a technical report on the incident will be released soon.

France releases details of 25 suspects in crypto kidnapping case: 6 are minors, 18 have been detained before trial

According to Cointelegraph, France has charged 25 people, including 6 minors, for a series of kidnappings and attempted kidnappings related to the country's cryptocurrency industry. According to an announcement previously released by the Paris Prosecutor's Office, the suspects are aged between 16 and 23. They face multiple charges against well-known cryptocurrency figures and their families. Currently, 18 suspects are in pretrial detention, 3 have requested a postponement of the hearing, and 4 are still under judicial supervision.

Important data

Bitcoin spot ETFs saw a net outflow of $157 million last week, ending a six-week trend of net inflows

According to SoSoValue data, in the week ending May 30, Eastern Time, Bitcoin spot ETFs recorded a net outflow of $157 million, ending a six-week trend of net inflows. IBIT (BlackRock) was the only product with a large net inflow, with an inflow of $584 million, and a cumulative inflow of $48.57 billion. ARKB (Ark and 21Shares) had the largest net outflow of $282 million. The current total net asset value of ETFs is $126.15 billion, accounting for 6.07% of the total market value of Bitcoin.

Ethereum spot ETF had a net inflow of $286 million last week, recording net inflows for three consecutive weeks

According to SoSoValue data, in the week ending May 30, Eastern Time, Ethereum spot ETF recorded a net inflow of $286 million, which was positive for three consecutive weeks. BlackRock ETHA had a net inflow of $206 million, with a cumulative inflow of $4.61 billion, ranking first; Fidelity FETH had a net inflow of $67.37 million, with a historical inflow of $1.51 billion. Grayscale ETHE had a net outflow of $4.62 million, with a cumulative outflow of $4.29 billion. The current net asset value of Ethereum spot ETFs is $9.45 billion, accounting for 3.04% of the total market value of ETH.

ETH IC0 whale transfers 989 ETH to OKX again, with a holding cost of only $0.31

According to @ai_9684xtpa, the whale that bought 1 million ETH during the Ethereum IC0 has transferred another 989 ETH to the OKX exchange, which is about $2.42 million at the current market price, and the holding cost is only $0.31 per ETH. The address currently still holds 49,745 ETH, worth about $125 million.

Data: Decentralized exchanges accounted for 25% of global spot trading volume in May, a record high

According to data from The Block, decentralized exchanges (DEX) accounted for 25% of global spot trading volume in May 2025, a record high, with a total trading volume of US$410.2 billion. The leader was PancakeSwap (US$171.6 billion), followed by Aerodrome and PumpSwap, with monthly trading volumes approaching US$15 billion.

Ethereum leads digital asset capital inflows, with cumulative inflows reaching $10.9 billion in seven weeks

According to CoinShares' latest weekly report, digital asset investment products recorded a net inflow of $286 million last week, and a total of $10.9 billion in seven weeks. Ethereum performed the best, with a net inflow of $321 million in a single week, the best six-week performance since December 2024; Bitcoin, affected by the US tariff ruling, reversed funds in the middle of the week and finally recorded a net outflow of $8 million. The United States still dominates the market, with inflows of $199 million, and Hong Kong recorded an inflow of $54.8 million in a single week, the strongest since the local ETF went online. Switzerland recorded an outflow of $32.8 million, with a cumulative net outflow this year.

Data: ENA, TAIKO, NEON and other tokens will be unlocked in large amounts next week, of which TAIKO unlocks about 46.9 million US dollars

Token Unlocks data shows that ENA, TAIKO, NEON and other tokens will be unlocked in large amounts next week, including:

Ethena (ENA) will unlock approximately 40.63 million tokens at 3:00 pm Beijing time on June 2, accounting for 0.70% of the current circulation and worth approximately US$12.5 million.

Taiko (TAIKO) will unlock approximately 81.55 million tokens at 8:00 pm Beijing time on June 5, accounting for 69.37% of the current circulation, with a value of approximately US$46.9 million.

Neon (NEON) will unlock approximately 53.91 million tokens at 8:00 am Beijing time on June 7, accounting for 22.51% of the current circulation, with a value of approximately US$6.1 million.

Spectral (SPEC) will unlock approximately 3.62 million tokens at 8:00 am Beijing time on June 6, accounting for 17.57% of the current circulation and worth approximately $3.7 million.

Staika (STIK) will unlock approximately 1.57 million tokens at 8:00 am Beijing time on June 2, worth approximately $1.4 million

Cetus Protocol (CETUS) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on June 4, accounting for 1.15% of the current circulation and worth approximately US$1.1 million.

Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 am Beijing time on June 4, accounting for 0.42% of the current circulation, with a value of approximately US$1.7 million.

IOTA (IOTA) will unlock about 8.63 million tokens at 8:00 am Beijing time on June 4, accounting for 0.23% of the current circulation and worth about $1.6 million.

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