Today's news tips:
1. Trump: It is recommended to impose a 50% tariff directly on the EU from June 1
2. More than 30 members of the U.S. House of Representatives called for an investigation into Trump's Meme Coin Dinner
3. Kazakhstan will legalize cryptocurrency exchange services by issuing licenses
4. The governor of Texas expressed support for the Bitcoin Strategic Reserve Act
5.HyperFND official X account was hacked
6. Cetus offers $5 million reward for clues about hacker
7. James Wynn closed his PEPE position, making a total profit of $25.18 million
8. Bitcoin spot ETF had a total net inflow of US$212 million yesterday, continuing its net inflow for 8 consecutive days
Regulatory News
Trump: It is recommended to impose a 50% tariff directly on the EU from June 1
US President Trump said on social media that the main purpose of the establishment of the European Union is to take advantage of the United States in trade, but the European Union is difficult to deal with. Their strong trade barriers, value-added taxes, ridiculous corporate penalties, non-monetary trade barriers, currency manipulation, unfair and unreasonable lawsuits against American companies, etc., have caused the United States to have an annual trade deficit of more than 2500000000 US dollars, which is totally unacceptable. Our discussions with them have made no progress. Therefore, I propose to impose a direct tariff of 50% on the European Union from June 1, 2025. If the product is manufactured or produced in the United States, no tariff will be imposed.
Medical technology company Semler Scientific (NASDAQ: SMLR) disclosed in its latest 8-K filing that it spent $50 million to purchase 455 additional bitcoins between May 13 and 22, at an average price of $109,801 per bitcoin. As of May 22, the company held a total of 4,264 bitcoins, with a total cost of $390 million and an average holding cost of $91,471 per bitcoin.
The document shows that the company has raised a total of $114.8 million through the ATM additional issuance plan, part of which was used for Bitcoin investment. The company's official website has opened a Bitcoin holdings data dashboard, disclosing key indicators including "Bitcoin yield" (YTD 25.8%). The funds for the purchase of Bitcoin this time came from the stock issuance agreement previously signed with six investment banks including Barclays.
Kazakhstan to legalize cryptocurrency-to-fiat exchange services by issuing licenses
Yerlan Ashykbekov, head of the payment systems department of the Central Bank of Kazakhstan, announced that the country will legalize cryptocurrency exchange services by issuing licenses. The new regulations require trading platforms to establish risk management systems, user interaction rules and asset protection mechanisms, and the central bank will approve the list of tradable cryptocurrencies.
According to the legislative amendments, licensed exchange operators will be able to conduct business under the supervision of the central bank. Currently, only exchanges under the jurisdiction of the Astana International Financial Center (AIFC) can operate legally, and the new regulations will integrate the two regulatory systems. Kanysh Tuleushin, deputy minister of the country's Ministry of Digital Development, revealed that current policy requires that 75% of miners' output must be sold through the AIFC platform. The new regulations will also create a "secured digital asset" market, which will be divided into three categories: legal currency stablecoins, digital certificates of financial instrument certification rights, and tokenized assets of traditional financial instruments such as bonds and stocks. The central bank will also launch a digital asset regulatory sandbox.
Ant International partners with HSBC to launch first bank-led tokenized deposit service in Hong Kong
According to Crowdfundinsider, Ant International has become the first corporate client in Hong Kong to adopt HSBC's new tokenized deposit service, marking an important step for Hong Kong in promoting the integration of blockchain and traditional finance. The service enables real-time, 24-hour payments in Hong Kong dollars (HKD) and US dollars (USD) between corporate accounts through tokenized deposits on blockchain ledgers, significantly improving the efficiency of cross-border fund management. The initiative was launched after a successful pilot on Ant International's own Whale platform and is the first blockchain-based settlement service led by a commercial bank in Hong Kong. Ant International's cooperation with HSBC dates back to 2020, and the two sides have established a broader partnership. Last year, the two companies also tested Hong Kong dollar-denominated interbank transfers under the Hong Kong Monetary Authority's "Ensemble Sandbox" program.
According to the photos taken by the New York Times at the Trump dinner and the information disclosed by some participants themselves, in addition to Justin Sun, those invited to the dinner included Washington lawyer Elliot Berke, Wintermute founder and CEO Evgeny Gaevoy, Delphi Digital co-founders Anil Lulla and Yan Liberman, Shanghai cryptocurrency investor Cheng Lu, CTS International founder Stephen Dworkin, digital asset management company Hyperithm CEO Sangrok Oh and executive Charles Ayres, crypto company Origin co-founder Matthew Liu, conservative media person Caitlin Sinclair, former National Basketball Association star Lamar Odom, crypto company Acheron Trading founder Wesley Pryor, NFT platform Magic Eden co-founder and CEO Jack Tan Lu, crypto exchange Synthetix founder Kain Warwick, and Kronos Research CEO Vincent Liu.
More than 30 U.S. House members call for investigation into Trump's Memecoin dinner
Thirty-five members of the U.S. House of Representatives jointly wrote to the Department of Justice, asking for an investigation into the private dinner held by President Trump for TRUMP Meme coin holders on May 22, alleging that it may violate the "foreign emoluments clause" in the Constitution and federal anti-bribery laws. Members pointed out that most of the participants were suspected to be foreign citizens, and such undisclosed contacts could become a channel for foreign governments to influence U.S. policies. The Democratic Party also promoted two pieces of legislation: 1) restricting senior government officials and their relatives from accessing cryptocurrencies; 2) adding amendments to the GENIUS Act targeting the Trump family-related stablecoin platform. Legal experts pointed out that if the Department of Justice determines that the dinner constitutes a transfer of foreign interests, it may trigger a constitutional lawsuit.
Forbes: Trump's use of the US presidential seal at the Memecoin dinner may violate federal law
According to Forbes, US President Trump's use of the presidential emblem podium at a private dinner for TRUMP holders of the meme coin may be suspected of violating Section 713 of Title 18 of the United States Code. The law prohibits the use of the presidential emblem in a way that implies government endorsement, and offenders may be sentenced to six months in prison or a fine. Legal experts pointed out that the US presidential emblem is only used in official occasions, and previous presidents such as Obama and Biden have not used the logo in private business activities. The White House has not yet responded to the media's inquiries about the legality of the use of the emblem.
According to CCTV.com, the Cyberspace Administration of China, together with financial regulatory authorities, has investigated and dealt with a number of illegal accounts and websites that spread false information about the capital market, illegally recommended stocks, and speculated on virtual currency transactions. Some typical cases include: "Love Stocks APP" and "Captain Jack Macro Strategy" and other accounts that released false capital market information and regulatory rumors; "Kan Ge Talks Finance" and other accounts that illegally recommended stocks; "Huo Ge Chats Cryptocurrency" and "Finance-Xu Yanwen" and other social platform accounts that induced users to participate in virtual currency transactions through group chat screenshots and profit displays; PKEX, WEEX, HTX and other platforms provided download or indirect trading services for overseas exchanges; "Xiao Beiyou" and other accounts spread financial black and gray industry information. Relevant accounts and websites have been closed according to law.
Viewpoint
Arthur Hayes: The bull market goal may be "HYPE surpasses SOL"
Arthur Hayes, co-founder of BitMEX, posted on the X platform that his goal in this bull market may be to "HYPE's market value surpass SOL", and asked the community for their opinions: "What do you think fam?"
User X asked Zhao Changpeng: "Did the Wall Street Journal WSJ ask you for money to stop defaming you?" Zhao Changpeng responded: "They didn't ask me for money to stop defaming you, but I heard that they took money to discredit us. There are rumors that a large venture capital firm that has invested in a US crypto exchange is lobbying heavily against 'Binance helps the United States become the capital of cryptocurrency'. They spent millions of dollars on 'lobbying activities'. This is a manifestation of fear of competition."
Bitwise predicts that countries and institutions will hold 4.269 million Bitcoins by the end of 2026
According to Bitcoin Magazine, Bitwise, which manages $12 billion in assets, predicts that by the end of 2026, countries and institutions will hold 4.269 million bitcoins, with a total value of $426.9 billion.
Texas Governor Supports Bitcoin Strategic Reserve Bill
Texas Governor Greg Abbott expressed his support for a bill to establish a strategic Bitcoin reserve in the state through his official X account. The bill, SB 21, was passed by the state House of Representatives on May 21 and is currently awaiting the governor’s signature.
Abbott has publicly supported cryptocurrency legislation since 2021, and proposed to build Texas into the "crypto capital" in 2024. Texas is one of the few state governments that proposed to establish a crypto reserve after the 2024 election. Previously, New Hampshire Governor Kelly Ayotte took the lead in signing a similar bill on May 6, and Arizona also passed new regulations on the disposal of unclaimed cryptocurrencies.
US SEC member: Pledge activities are not within the jurisdiction of securities law
According to the official blog of Figment, a staking service provider, Commissioner Hester Peirce, head of the Crypto Working Group of the U.S. Securities and Exchange Commission (SEC), made it clear in a speech on May 19 that technical activities directly participating in the Proof of Stake (PoS) and Delegated Proof of Stake (DPoS) systems are not subject to securities law. This is the first time that a senior SEC official has made such a statement on staking activities.
Peirce pointed out that the SEC will issue further guidance to clarify which activities are not subject to securities laws, including technical services that assist in participating in consensus mechanisms. She admitted that the SEC's past law enforcement and regulatory methods have failed to effectively prevent fraud, but instead caused confusion for compliant operators. This statement is seen as a positive signal for US institutions to participate in staking activities. Figment said that this will promote the wider adoption of staking services by US institutions.
Project News
The cross-chain DeFi project Chainge has been exposed to have trapped user funds for months, and the promised solution has not been fulfilled. The project is led by Multichain founder DJ Qian and has both cross-chain bridge and decentralized exchange functions. User complaints show that from the end of 2024 to the beginning of 2025, a large number of users reported that transactions were stuck and could not be processed, especially wKAS (packaged version of Kaspa) cross-chain problems. The team blamed "malicious actors abusing the service to cause liquidity shortages", but wKAS has now been significantly decoupled and its partnership with "kas.fyi" has been terminated.
The project owner announced on March 24 that the issue would be "100% resolved", but it has not been fulfilled as of May 22. The front-end page still has cross-chain functions, which poses a risk of continued capital absorption. Protos has contacted the Chainge team for comment, but has not received a response.
Ethereum blockchain game Ember Sword announced to shut down due to lack of operating funds
The Ethereum blockchain game Ember Sword attracted $203 million in revenue through NFT land sales four years ago, but now it has announced its closure. The developer Bright Star Studio said that due to the failure to obtain the funds needed for continued operation, the game server has been permanently closed and the related Discord channel has also been restricted.
Project history shows that this MMORPG game attracted 35,000 players to buy virtual land NFTs worth $203 million at its peak in 2021. The project advisory team includes industry veterans such as Rob Pardo, former chief creative officer of Blizzard. The game received poor response after the closed beta test was launched in July 2024, and ultimately failed to reverse the decline after migrating to the Ethereum Layer2 network Mantle. The market value of the game token EMBER has plummeted to $80,000, down more than 96% from its peak.
Yield Guild Games (YGG), a blockchain game guild, announced the establishment of its game publishing division, YGG Play, and launched its first "casual speculative" blockchain game, League of Legends Land. The game was developed based on Pudgy Penguins' Abstract chain and has received over 100,000 pre-registrations.
Product details revealed that this browser board game includes four theme maps such as YGG City, and integrates Pudgy Penguins IP characters. Two modes are provided: free mode without token rewards, and paid mode requires purchasing game times to win YGG tokens (a prize pool of 10 million US dollars). Gabby Dizon, founder of YGG, said that this product is designed for crypto native users who are familiar with NFT and Meme coin transactions. In terms of strategic transformation, YGG has shifted from an investor to a direct developer, abandoning the mainstream market and focusing on "crypto casual players."
The B token fell nearly 38% in 24 hours, possibly due to rumors that WLFI sold the token
Data shows that BUILDon’s B token is currently trading at $0.1873, down 37.9% in 24 hours.
In addition, some media reported that WLFI-related addresses were selling B tokens. Later, on-chain analyst @ai_9684xtpa confirmed that the address that WLFI bought B tokens did not sell them .
Sophon (SOPH) to be listed on Binance Alpha and Binance Futures
According to Binance's official announcement, Sophon (SOPH) will be available for trading on Binance Alpha from 21:00 Beijing time on May 28. In addition, Binance Futures will launch SOPH/USDT perpetual contracts at 21:30 Beijing time on May 28, supporting up to 50x leverage. Binance will provide exclusive token airdrops for eligible users. Eligible users need to use Binance Alpha points to claim the airdrop on the Binance Alpha event page, and the claim time is from 21:00 on May 28 to 21:00 on May 29, Beijing time.
Binance Alpha Lists Orbiter Token (OBT)
Sophon to hold TGE on May 28, SOPH token economics revealed
Sophon announced that SOPH will conduct TGE on May 28 and announce the token economics, of which: 57% is allocated to the community (including 20% node rewards, 26% ecological reserves, 9% airdrops, and 2% L2 liquidity mining); 25% is allocated to core contributors (released in 4 years); 18% is allocated to seed round investors (released in 3 years).
The airdrop plan is to allocate 6% to L1 Farmer users, and 3% to early supporters (Sophon users, ZKsync active users, Sophon-related NFT holders, community contributors, etc.) Users can check their eligibility through claim.sophon.xyz. OKX users can pre-register and receive an additional 5% SOPH reward on the day of TGE.
Cetus offers $5 million reward for clues about hacker
According to official news, Cetus said that it has not received a response from the hacker and urged him to seriously consider the negotiation conditions proposed previously. At the same time, with the support of Inca Digital and Sui Foundation, Cetus announced a reward of 5 million US dollars to collect relevant information that can successfully identify and assist in the arrest of the hacker, including name, location and solid evidence. Information can be sent via email to info@inca.digital with the subject "Cetus lead". Cetus added that if the hacker chooses to cooperate and accepts the proposal, no legal responsibility and reward will be pursued, and the reward amount will be paid at the discretion of Sui Foundation.
Huma Finance and Jupiter DAO partnership vote approved, pre-sale now launched
Huma Finance announced that the alliance vote with Jupiter DAO has ended, with 86% of votes in favor of the partnership. Currently, the HUMA token pre-sale is open to Huma OGs and JUP stakers. The pre-sale subscription will end at 20:00 on May 25th, Beijing time, and participants are required to deposit USDC. The tokens obtained in the pre-sale will be unlocked 3 months after the subscription ends.
Prediction Market Kalshi Now Supports Solana Deposits
According to official news, the prediction market Kalshi announced that it now supports Solana deposits, and users can recharge their accounts from their wallets.
Earlier, there were market reports that KALSHI would allow cryptocurrency deposits.
WalletConnect Token Expands to Solana and Will Airdrop 5 Million WCT
The cross-chain protocol WalletConnect announced that its governance token WCT has officially landed on the Solana network, and will airdrop 5 million WCT to Solana active users. This integration marks the start of WalletConnect's "multi-chain process", and the integration of more chains is already under development. Pedro Gomes, founder of the WalletConnect Foundation, said that the protocol is shifting from "Ethereum-centric" to "chain-independent protocol", and in-depth cooperation with the Solana ecosystem has lasted for several months.
In 2024, WalletConnect launched a decentralization plan, launched the WCT token and established a foundation. This airdrop follows the distribution of 50 million WCT to users last year. Several Solana head applications, including the lending platform Save and the perpetual contract exchange Drift, have adopted its infrastructure.
Sui: Support Cetus upgrade agreement but give up voting rights, Cetus must compensate users in full
Sui tweeted that earlier today, Cetus called on the community to vote to upgrade the protocol to return frozen funds without rolling back on-chain history or reversing transactions. This is a special request for a special need (Cetus's customer funds are at risk). After consideration, the Sui team decided to support its on-chain voting proposal, but with two conditions: Sui officials will remain neutral on the voting results and give up official voting rights. Sui's responsibility is to design and implement a decision-making process that reflects the collective will of the Sui community (specific plans and codes will be announced soon); Cetus is required to publicly commit to mobilizing all financial resources to restore funds until all customers' funds are fully returned.
HyperFND official X account was hacked
Hyperliquid tweeted that the HyperFND Twitter account had been hacked, and the Hyperliquid blockchain was not affected. Users were reminded not to interact with any links or tweets from the account.
Financing News
Alchemy completes acquisition of NFT issuance platform HeyMint, expanding its “Smart Wallet” service
Web3 infrastructure company Alchemy announced the completion of its acquisition of NFT issuance platform HeyMint. The transaction was completed on April 30, and the specific terms were not disclosed. The core team of HeyMint will join Alchemy to jointly develop smart wallet products. It is reported that HeyMint provides NFT collection creation tools that do not require programming knowledge and support Ethereum and its Layer 2 network.
Important data
According to Onchain Lens, the BTC long position of the whale James Wynn uses 40 times leverage and is currently close to $1.2 billion. Wynn's current floating loss exceeds $21 million, although he has currently realized a profit of $35.19 million. Wynn is also gradually closing his PEPE long position.
James Wynn closed his position in PEPE, making a total profit of $25.18 million
According to @ai_9684xtpa monitoring, James Wynn closed all $PEPE positions and made a cumulative profit of $25.18 million. James Wynn made $25 million with a principal of $7,000 in 2023, and made another profit of $25.18 million by going long on PEPE in 2025. The profit of a single currency has exceeded $50 million.
