Hot News

• Bitcoin fluctuated sideways last week, with prices fluctuating between $103,000 and $107,000. As Musk openly criticized Trump's tax reform bill, the two sides split, and Bitcoin fell sharply to around $100,000. However, as the verbal dispute between the two influential figures quickly eased, Bitcoin rebounded to over $104,000 on Friday.

Macro Outlook

• President Trump expressed optimism after a trade negotiation call with China. Secretary of State Benson and others will meet with Chinese representatives on June 9 .

• The US ISM manufacturing PMI fell to 48.5 in May, lower than the market expectation of 49.5. In addition, the service industry PMI also fell to 49.9, far lower than the market expectation of 52.

• JOLTs job openings increased to 7.391 million, significantly higher than the market expectation of 7.10 million.

• U.S. nonfarm payrolls increased by 139,000 in May, slower than the downwardly revised 147,000 in April, but higher than the expected 130,000. The unemployment rate remained at 4.2% in May. The increase in unemployment and the sharp drop in employment in May were offset by the decline in the labor force participation rate and the employment-to-population ratio.

• The ECB cut its key interest rates by 25 basis points to 2.15% and 2.4% from 2.4% and 2.65% respectively.

Upcoming economic calendars include:

• Wednesday, June 11, 20:30: US inflation rate in May

• Thursday, June 12, 20:30: US Producer Price Index for May

• Friday, June 13, 22:00: University of Michigan preliminary June Consumer Confidence Index

Cryptocurrency Market Overview

• Strategy announced plans to launch an IPO of STRD shares, with the goal of raising $250 million. STRD shares are entitled to a non-cumulative dividend of 10% per year, are non-convertible, and are redeemable when less than 25% of shares are outstanding or certain tax events occur.

• Tether announced an investment of an undisclosed amount in Latin American cryptocurrency exchange Orionx to expand its service scope. Tether also launched tokenized gold XAUt0 based on the Layer Zero OFT standard on the TON blockchain. In addition, Tether announced a strategic investment in African blockchain financial company Shiga Digital , which provides USDT OTC transactions, fund management and cross-border payment services.

• Circle, the issuer of the USDC stablecoin, has been listed on the New York Stock Exchange, with its share price rising 247% in two trading days, far exceeding its IPO issue price of $31.

• Deutsche Bank plans to integrate or issue a stablecoin to make payments more efficient.

• Apple, X (formerly Twitter), Airbnb and Google are reportedly discussing integrating stablecoins into their businesses to reduce transaction costs and improve cross-border payments efficiency.

• Uber has announced plans to support cryptocurrencies in its payment system .

• Robinhood announced that it has completed its $200 million acquisition of Bitstamp .

• JPMorgan plans to accept IBIT as collateral for loans from its trading and wealth management clients.

• The Gemini cryptocurrency exchange has filed a Form-S1 filing with the U.S. SEC to apply for an IPO .

• The UK Financial Conduct Authority (FCA) announced the lifting of the ban on retail investors in cryptocurrency ETNs, which were previously only available to institutional investors.

Layer 1 and Layer 2 Public Chains

• The Ethereum Foundation launched a new R&D framework " Protocol ", streamlining its R&D team into three core groups: Layer 1 expansion, Layer 2 expansion, and user experience optimization.

• Solana releasedthe Solana App Kit , an open source toolkit that enables developers to build iOS and Android mobile apps on Solana.

• Arbitrum launches “ Trailblazer 2.0 ” program, providing $1 million in funding to support developers integrating Vibekit, a new Arbitrum-native MCP proxy framework.

• Aurora launches the Aurora Cloud Console Marketplace , which provides ready-to-use full-stack integration services (including identity verification, computing, AI tools, and oracles) for Virtual Chain, an application chain driven by the Aurora engine and running as a smart contract on the NEAR blockchain.

• Plume has officially launched Plume Genesis . Users can now cross-chain to the Plume mainnet to participate in various RWA income opportunities and PLUME token staking.

• Bitfinex has launched a new layer of networkStable , which uses USDT as the gas token and USDT transfers are fee-free. The test network has been officially launched.

Dapps

• Aave has launched a new Umbrella upgrade , introducing the aToken staking feature, which can provide financial protection in the event of bad accounts. Stakers who provide this security can receive additional rewards.

• World Liberty Finance launches a $1 million reward program for USD1 x BNB Chain liquidity mining activities, aiming to increase the adoption and liquidity of USD1 on BNB Chain.

• Maple Finance has partnered with Kamino to bring syrupUSDC to Solana and integrate it into the Kamino platform’s Multiply, Lend, and Liquidity Yield strategies.

• Morpho launches Auto Deleverage feature to help borrowers automatically reduce loan size to avoid liquidation while saving liquidation costs.

• Sky announced that SKY stakers can now receive USDS rewards with an annualized yield of approximately 15%. Currently, $570 million of SKY has been staked, accounting for 26% of the total SKY token supply.

• Euler launches the Frontier stablecoin template, which accelerates the adoption of various stablecoins by integrating EulerSwap's isolated lending market and enjoys incentive enhancements.

• Magic Eden worked with the Trump official team to launch the $TRUMP wallet , but the plan has been discontinued. World Liberty Financial will soon launch a new official wallet.

• GMX launchedGMX Express on Arbitrum and Avalanche, providing a smooth trading experience even when the network is congested, supporting USDC to pay gas fees, and providing a "one-click transaction" gas-free function.

• InfiniFi, a tiered reserve yield vault protocol, has launched its mainnet . Less than a week after its launch, the TVL exceeded $17 million, and the yield on the priority stablecoins was about 7%.

• Covalent launches Sub-Second Data Co-Processor , which provides verifiable and readable blockchain data to traders, smart agents and dApps within 1 second.

• Polymarket has partnered with X Platform to become the official prediction market platform.

Governance/Project Updates

• The Defi App is expected to launch its HOME token on June 10.

• Huma Finance expects to open Huma 2.0 deposits on June 11, allowing HUMA stakers to participate in its liquidity pool for payment services based on the amount of stake.

• Velora (formerly ParaSwap) proposed to introduce an automatic compounding function in staking, automatically converting all or part of the ETH rewards into PSP. The protocol token carried out incentive activities from June 4 to July 2 before changing its name from PSP to VLR.

• Virtuals’ Agent Commerce Protocol (ACP), expected to be launched in June, is an open standard that enables secure, verifiable, and efficient transactions and communications between AI agents.

• Origin Protocol is voting to allocate DAO Treasury assets to buy back OGN and redistribute them to OGN stakers, with the buyback expected to begin on July 4th.

• Consensys (Metamask development team) revealed that it is in discussions with a sovereign fund and a bank to help build infrastructure within the Ethereum ecosystem.

• Pump.fun reportedly plans to raise $1 billion through a token sale at a $4 billion valuation.

• Apecoin proposes to shut down ApeCoin DAO governance and transfer assets and responsibilities to Yuga Labs' newly established ApeCo to achieve more efficient and rapid product development and capital allocation.

• Across is voting to stop issuing ACX rewards to wstETH/ACX LP and ACX LP on Balancer, and instead have the ACX Emissions committee redirect incentives to more utilized liquidity pools.

• Frax Finance is exploring listing on the U.S. stock market through a SPAC and using the company to build the FRAX fund management strategy.

Token Unlock

• IO tokens will be unlocked on June 11, accounting for 1.92% of the total supply

• APT tokens will be unlocked on June 12, accounting for 1.79% of the total supply

• IMX tokens will be unlocked on June 13th, accounting for 1.33% of the total supply

• BB tokens will be unlocked on June 13, accounting for 10.92% of the total supply

• STRK tokens will be unlocked on June 15th, accounting for 3.81% of the total supply

• VANA tokens will be unlocked on June 16, accounting for 16.8% of the total supply

• ZK tokens will be unlocked on June 17, accounting for 21% of the total supply

• ZRO tokens will be unlocked on June 20, accounting for 22.2% of the total supply

• LISTA tokens will be unlocked on June 20, accounting for 19.3% of the total supply

• MELANIA tokens will be unlocked on June 20th, accounting for 5.64% of the total supply

• PLUME tokens will be unlocked on June 21, accounting for 4.44% of the total supply

• INIT tokens will be unlocked on June 24, accounting for 1.67% of the total supply

• SOPH tokens will be unlocked on June 28th, accounting for 1.25% of the total supply

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