According to Sonic Labs, the first quarter Sonic ($S) airdrop will be distributed in two phases: 25% of the shares can be claimed immediately, and the remaining 75% will be unlocked linearly as tradable NFTs over a period of 270 days. Early claiming will trigger the destruction mechanism. The total amount of airdrops is 190.5 million $S, which will encourage users, DeFi applications and game ecosystem participation, and optimize incentives and data tracking through OpenBlock and Sentio. Sanctioned regions such as the United States will be excluded from airdrops.
According to Neuralink's announcement, the company has completed a $650 million Series E financing round, with investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, Qatar Investment Authority (QIA), Sequoia Capital, Thrive Capital, Valor Equity Partners, Vy Capital, etc. The funds will accelerate the clinical trials and product development of its brain-computer interface technology, and are committed to restoring autonomy for people with paralysis, language or visual impairments. Neuralink currently has 5 severely paralyzed patients who have achieved mind control of the device through its equipment, and has launched clinical trials in many top medical institutions around the world.
OSL Group to acquire 90% stake in Indonesian licensee Evergreen Crest Holdings Ltd for US$15 million
According to Zhitong Finance, OSL Group (Hong Kong stock code 00863) intends to acquire 90% of Evergreen Crest Holdings Ltd for US$15 million and obtain its cryptocurrency and futures trading license in Indonesia. The transaction will be paid by issuing new shares, and the target company will become an indirect subsidiary of OSL after completion. This acquisition is expected to provide OSL with a compliant channel to quickly enter the Indonesian crypto market and expand emerging businesses such as real world assets (RWA) and payment finance (PayFi).
Musk's xAI starts selling $300 million worth of shares, with a valuation of $113 billion
According to the Financial Times, xAI, founded by Elon Musk, is conducting a $300 million share resale transaction, raising the company's valuation to $113 billion. The transaction allows employees to sell their holdings to new investors and may trigger a subsequent larger round of financing. Previously, xAI completed financing with a valuation of $45 billion at the end of 2023 and acquired the social platform X (formerly Twitter) in March this year. Musk said he would focus on developing xAI, X and Tesla's key technology deployment.
Binance.US will soon launch HYPE spot trading
According to Binance.US announcement, Hyperliquid (HYPE) token spot trading will be launched, and the specific opening time will be notified later.
According to the official website of Ethereum Foundation, the Ethereum Foundation announced that it will rename its "Protocol R&D" team to "Protocol" and reorganize around three strategic goals: L1 expansion, blob expansion and user experience improvement. Tim Beiko, Alex Stokes and others will be responsible for the specific implementation, and some members will leave the foundation. This change aims to improve the efficiency of R&D collaboration, accelerate the integration of zkEVM and L2, and promote the global expansion of Ethereum.
Coinbase Adds Ethena (ENA) to its Listing Roadmap
Coinbase Assets announced that it has included Ethena (ENA) in its coin listing roadmap. The time for trading to go online still depends on the improvement of market making support and technical infrastructure. Coinbase will make a separate announcement after the conditions are met.
Paradigm proposes “Orbitals” design to improve stablecoin pool capital efficiency
The Paradigm research team proposed the "Orbitals" automated market maker design, which aims to support liquidity pools of up to tens of thousands of stablecoins, with higher-dimensional liquidity concentration capabilities compared to Uniswap V3 and Curve. Orbitals uses n-dimensional spheres and nested tick mechanisms to significantly improve liquidity concentration and capital efficiency. Orbitals also allows providers to customize risk exposure. Although the proposal is still in the conceptual model stage, its idea of supporting tens of thousands of stablecoins is believed to have the potential to reshape the decentralized stablecoin market.
Morph CEO Cecilia Hsueh steps down, replaced by former Binance executive Colin Goltra
According to The Block, Cecilia Hsueh, co-founder and CEO of Ethereum Layer2 project Morph, announced her resignation, and her successor is the current Chief Growth Officer and former Binance executive Colin Goltra. The transition began three months ago and has now been officially completed. Morph was incubated by Bitget and established in 2023. Last year, it received $20 million in financing led by Dragonfly. The new CEO Goltra was formerly the Chief Operating Officer of YGG and the Director of Asia Pacific Expansion of Binance, and has more than 10 years of Web3 experience. Hsueh will move to a project consultant.
Consensys acquires Web3Auth to optimize MetaMask experience and accelerate Bitcoin support
According to The Block, Consensys has acquired wallet infrastructure provider Web3Auth, aiming to simplify MetaMask seed phrase management and improve user experience through Web2 login. The transaction details are not disclosed. The integration will also accelerate support for non-EVM chains such as Solana and Bitcoin, and full Bitcoin functionality is expected to be launched in Q3. Web3Auth services cover more than 500,000 end users, and this move also strengthens MetaMask's global layout, especially in the Asian market.
Tether transfers 18,812 Bitcoins to Jack Mallers’ Twenty One Capital
According to Bitcoin Magazine, Tether transferred 18,812 bitcoins worth nearly $2 billion to Twenty One Capital, a bitcoin investment company founded by Jack Mallers. On-chain data showed that 14,000 BTC were transferred from Tether's reserve address to an unknown wallet early this morning, with a transfer amount of approximately $1.5 billion.
US SEC Seeks Comments on WisdomTree Bitcoin Fund Physical Subscription and Redemption Mechanism
According to The Block, the US SEC has launched a consultation process on whether the WisdomTree Bitcoin Fund (BTCW) allows physical subscription and redemption mechanisms. The public can submit opinions within 21 days. This mechanism allows investors to redeem ETF shares with Bitcoin instead of cash. The SEC emphasized that this process does not represent a decision, but is to evaluate legal and policy issues. BTCW is a spot Bitcoin ETF approved in January 2024.
Strategy (formerly MicroStrategy) announced that it will issue 2.5 million shares of "Stride" (STRD), a perpetual preferred stock with an annual interest rate of 10%, to institutional and some non-institutional investors to raise funds for the purchase of Bitcoin and general operations. Previously, it has issued "Strike" with a yield of 13% and "Strife" with a yield of 10%. STRD cannot be converted into common stock and has no expiration date. The company currently holds approximately 580,955 Bitcoins, worth more than $60 billion.
Kraken has begun distributing funds to FTX creditors
Sunil, a representative of FTX creditors, posted on the X platform that "FTX creditors have received FTX's distribution funds in their Kraken accounts." Earlier, FTX announced the launch of the second phase of the user repayment process. The distribution time for FTX's US creditors is May 30, 2025 (total debt: US$312 million), and the distribution time for FTX's international creditors is June 2, 2025.
Arkham: Liquidation price drops to $103,610 after James Wynn deposits donation
Arkham posted on the X platform that James Wynn leveraged the donation funds provided by the community to his Hyperliquid account, which reduced his liquidation price from $103,632 to $103,610 (-0.021%).
A whale deposited 3,000 ETH worth $7.53 million to Binance
According to Onchain Lens, a whale deposited 3,000 ETH worth $7.53 million into Binance, and has deposited 10,000 ETH in the past two weeks. The whale increased its holdings by 13,478.6 ETH (US$49 million) between December 6, 2024 and January 14, 2025, and currently holds 3,478.6 ETH (US$8.78 million), and is currently facing a loss of approximately US$15.66 million.
SharpLink Gaming Completes $425 Million Private Funding, Led by Consensys
According to official news, SharpLink Gaming has completed a $425 million private placement financing led by Consensys. It is reported that SharpLink plans to use this fund to purchase Ethereum's native asset ETH and use it as its main reserve asset.
A trader who traded against James Wynn has a short position worth more than $76 million in BTC
According to Onchain Lens monitoring, a trader who operated in the opposite direction of James Wynn opened a 40x leverage short position in Bitcoin. The current position is worth more than US$76 million. The trader had previously lost US$2.78 million.
US-listed company Reitar Logtech launches $1.5 billion Bitcoin acquisition plan
According to Tipranks, Reitar Logtech, a US-listed company, announced a $1.5 billion Bitcoin acquisition plan. The company plans to use this Bitcoin acquisition to enhance financial stability while pursuing logistics technology advancement. The acquisition is part of Reitar Logtech's broader strategy to enhance its operational capabilities and expand its influence in the logistics technology market.
Nasdaq-listed company BTCS increases holdings by 1,000 ETH
According to Financefeeds, Nasdaq-listed company BTCS announced that it had increased its holdings by 1,000 ETH, worth approximately $2.63 million, bringing its total ETH holdings to approximately 13,500. The company held 9,063 ETH at the end of the first quarter of 2025, which means its ETH holdings have increased by approximately 50%.
According to CoinDesk, JPMorgan Chase said that Bitcoin mining profitability improved in May. The total market value of the 13 mining companies it tracked increased by about 19% from April, and the average daily block reward gross profit increased by 36% from April.
Binance Alpha has launched SQD and is now open to eligible users for airdrops
Subsquid (SQD) is now available on Binance Alpha. Eligible Binance users with at least 210 Binance Alpha points can claim an airdrop of 424 SQD tokens on the Alpha event page starting at 21:00 ET on June 2, 2025. It is worth noting that claiming the SQD airdrop will consume 15 Binance Alpha points. Users need to complete the claim within 24 hours after the claim is opened, otherwise it will be deemed to have given up the airdrop.
FalconX acquires majority stake in crypto hedge fund Monarq’s parent company; terms not disclosed
According to Bloomberg, digital asset broker FalconX has acquired a majority stake in the parent company of multi-strategy crypto hedge fund Monarq Asset Management, a move aimed at expanding its asset management services. Terms of the transaction were not disclosed. Austin Reed, head of global revenue and business at FalconX, a private company headquartered in San Mateo, California, said the investment provides the company with an opportunity to expand its institutional client base from hedge funds, proprietary trading firms and asset management institutions to a wider range of areas.
Eric Balchunas, senior ETF analyst at Bloomberg, wrote on the X platform: If Bitcoin can maintain its normal annual growth rate of 50%, then Satoshi Nakamoto will surpass Buffett this year and Zuckerberg in the next year or so, becoming the world's second richest person (Elon Musk is far ahead).
According to Marketscreener, customized car service platform Webus announced that it has signed an XRP funding agreement with SamaraAlpha, which establishes Samara Alpha as the exclusive digital asset trustee of Webus, with an authorized management limit of up to US$300 million.
Strategy's BTC return so far this year is 16.9%
Michael Saylor posted on the X platform that Strategy BTC has a return of 16.9% so far this year. As of June 1, 2025, it has held 580,955 bitcoins, with an average purchase price of $70,023.
Strategy spent $75.1 million to increase its holdings by 705 BTC
According to market news: Strategy spent US$75.1 million to increase its holdings of 705 BTC.
Opinion: James Wynn and CZ establish communication or want to discuss dark pool mechanism
According to @ai_9684xtpa, CZ proposed the idea of "dark pool perp DEX" this morning, using the dark pool mechanism to avoid displaying the order book, or even not displaying the funds deposited in the smart contract at all (or displaying them after a long delay), so as to avoid large perpetual orders from being sniped. James Wynn may want to communicate with CZ for this reason, after all, he is the center of this vortex.
Bitfinex Alpha: Bitcoin’s recent pullback may be a “healthy reset” rather than a crash
The latest Bitfinex Alpha report states that Bitcoin is experiencing its first major correction since the April lows, after surging 50% from $74,501 to a record high of $111,880 before retreating. The pullback reflects a change in the market's rhythm, following nearly 50 days of continuous gains with very small pullbacks. The pullback is not merely technical, but comes against the backdrop of macroeconomic pressures after the US government unexpectedly restored tariffs, causing the 30-year US Treasury yield to break through 5%, and rising risk aversion. Despite the pullback, Bitcoin's structural strength remains strong, and this pullback appears to be a healthy reset rather than a collapse, driven by leverage write-offs and profit realization after one of the strongest recoveries in cryptocurrency history. In addition, the cryptocurrency industry may also be experiencing a wave of major developments in the corporate, regulatory and even global financial sectors.
A newly built multi-signature wallet withdrew 14.57 million ENA from CEX
According to Onchain Lens monitoring, a newly built multi-signature wallet withdrew 14.57 million ENA from Binance and Bybit, worth US$4.41 million.
