Headlines
▌pump.fun suspected of being attacked by flash loan
Solana chain token launcher pump.fun is suspected of being attacked by flash loans. The attacker can participate in the meme coins released by the platform indefinitely through the loophole. As of press time, Phantom Wallet has temporarily blocked the official website of the pump.fun project. Bonkbot said that for the sake of caution, it temporarily banned transactions on Pump.fun to ensure the safety of users.
Reddit and OpenAI announce partnership
Reddit and OpenAI announced a partnership to bring content from Reddit to ChatGPT and other OpenAI products.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $65,293.02, with a daily change of -1.6%;
ETH's latest transaction price is $2943.00, with a daily change of -3.0%;
BNB's latest transaction price is $569.15, with a daily change of -2.5%;
SOL's latest trading price is $159.54, with a daily change of +0.0%;
DOGE’s latest trading price is $0.1499, with a daily change of -4.3%;
XPR’s most recent trading price was $0.5162, with a daily change of -0.5%.
policy
▌The U.S. Senate votes to overturn the SEC's controversial crypto asset accounting regulations
According to the U.S. Senate's official website, the Senate voted 60 to 38 to overturn the SEC's controversial crypto asset accounting regulations. The SEC's previously issued Staff Accounting Bulletin 121 (SAB 121) requires companies to record their crypto assets on their balance sheets, but critics believe that this regulation is too strict and actually prevents major custodians and companies from holding crypto assets for their clients.
▌The U.S. Treasury Department plans to strengthen money laundering supervision on cryptocurrencies and other illegal finance
The U.S. Treasury Department released its 2024 National Strategy for Combating Terrorism and Other Illegal Financing on Thursday, outlining priorities for combating illicit financing. The Treasury Department highlighted its ongoing work around cryptocurrencies, including sanctions on certain trading platforms and groups such as Bitzlato and Lazarus, a settlement with Binance, and warnings against scams. The report pointed out that the four priorities of the U.S. Treasury Department are to narrow gaps in anti-money laundering regulations, support more effective and risk-centric frameworks, improve the efficiency of law enforcement agencies, and leverage technological innovation. Updating the existing regulatory framework for cryptocurrencies will support these priorities.
▌U.S. Congressman Thomas Massie proposes bill to abolish the Federal Reserve
U.S. Congressman Thomas Massie has introduced a bill to abolish the Federal Reserve.
▌French securities regulator issues new warning to Bybit
The French securities regulator has issued a new warning against cryptocurrency exchange Bybit, urging customers to make arrangements for the possibility that the platform could suddenly stop providing services to French customers. The Financial Markets Authority (AMF) said in a notice on Thursday that the exchange is not registered as a digital asset service provider (DASP) and is therefore illegally providing services in France. Bybit has been blacklisted by the AMF since May 20, 2022 for illegal operations.
Blockchain Applications
▌FLock.io merges decentralized AI training with Morpheus intelligent agents
The "AI co-creation" platform FLock.io and Morpheus, a network that powers smart agents, announced a strategic partnership to advance decentralized AI capabilities in Web3. The team said that by merging FLock.io's community-driven, decentralized AI training model platform with Morpheus, smart agent builders will be able to deploy their code and receive rewards. The partners aim to reduce reliance on OpenAI's centralized external function calls and integrate more smart agents into Web3 wallets. Ultimately, this integration will enable users to leverage artificial intelligence directly from their wallets for a seamless, secure, and intuitive trading experience.
▌Bitcoin L2 Network Stacks Community Anticipates Two Major Upgrades
Bitcoin L2 network Stacks said on the X platform that Bitcoin L2 is the top topic in 2024. As Bitcoin L2 matures, the Stacks community expects to carry out two major upgrades.
DTCC, Chainlink and several major U.S. financial institutions complete pilot to accelerate fund tokenization
According to a report released on Thursday, the Depository Trust & Clearing Corporation (DTCC), the world's largest securities settlement system, has completed a pilot project with blockchain oracle Chainlink (LINK) and several major U.S. financial institutions to help accelerate the tokenization of funds. The Smart NAV project aims to establish a standardized process to introduce and disseminate fund net asset value (NAV) data on almost any private or public blockchain using Chainlink's interoperability protocol CCIP. Market participants include American Century Investments, Bank of New York Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan Chase, MFS Investment Management, Mid-Atlantic Trust Company, State Street Bank and U.S. Bancorp.
Cryptocurrency
▌The 90-day correlation between Bitcoin and U.S. stocks rose to 0.17 last week
Data shows that Bitcoin's 90-day correlation with U.S. stocks rose to 0.17 last week, up from a multi-year low of 0.01 recorded in March. Nevertheless, Bitcoin's correlation with risk assets is still far below the bull market high of more than 0.6.
▌US mining company CleanSpark purchased a mine near a missile base in Wyoming
US bitcoin mining company CleanSpark has purchased a mine in Wyoming near a US missile base from a company linked to Chinese investors.
As previously reported, Biden banned crypto mining companies backed by Chinese investors from owning land near U.S. missile bases.
▌Coinbase's stock price fell 9% due to the news that CME was considering listing spot Bitcoin
Possibly affected by the news that CME is considering listing spot Bitcoin, Coinbase's stock price fell 9% to $202.49. The stock was the second worst performing stock among cryptocurrency stocks on Thursday.
It was previously reported that CME plans to launch Bitcoin spot trading.
▌pump.fun: The contract is safe, and the former employee misappropriated about 12,300 SOL
pump.fun posted on the X platform that the pump.fun contract is safe, a former employee misappropriated about 12,300 SOL (about 1.9 million US dollars), and pump.fun is now back online.
Users can issue new coins and trade any coins that have not reached 100% between 15:21-17:00 UTC. Any tokens that reach 100% between 15:21-17:00 UTC will be listed on Raydium with a 0% transaction fee for the next 7 days.
AntPool and Foundry USA control more than 50% of Bitcoin hashrate
According to analyst Kadan Stadelmann, large miners are posing an increasing threat to Bitcoin. As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin's computing power, which may become a threat to Bitcoin in the near future.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged in June is 91.3%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in June is 91.3%, and the probability of a 25 basis point rate cut is 8.7%. The probability of the Fed keeping interest rates unchanged by August is 68.6%, the probability of a cumulative 25 basis point rate cut is 29.2%, and the probability of a cumulative 50 basis point rate cut is 2.2%.
▌Fed's Bostic: Rate cuts before year end may be appropriate
Fed's Bostic said that it may be appropriate to cut interest rates before the end of the year, but we do not have any definite plans; inflation is expected to decline slowly and economic momentum will continue; the economy may evolve in different ways and we will adjust as needed.
▌Fed's Mester: Interest rates should remain high for longer
Fed's Mester said that short-term inflation expectations have risen; interest rates should remain high for a longer time; it is too early to conclude that the process of inflation decline has stagnated; data show that the risks to the Fed's inflation target have increased; more price data need to be collected in the "coming months"; recent data show that risks to the job market have eased; it will take longer to be confident that inflation will fall back toward 2%.
Golden Encyclopedia
▌What is Ethereum Futures ETF
Ethereum futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself. Investors can use Ethereum futures ETFs to speculate on the future price of Ethereum without actually holding the cryptocurrency. Instead of holding a tangible asset, Ethereum futures ETFs invest in futures contracts. These contracts are a promise to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can buy these contracts through ETFs, gaining exposure to Ethereum's price fluctuations, and the ETF simply raises investors' funds to buy them.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
