1. Shengli Securities: Applying for a Hong Kong virtual asset exchange license and launching STO business by the end of the year
Chen Peiquan, executive director of Victory Securities, said that Victory Securities is currently applying for a Hong Kong virtual asset exchange license, and its security token issuance (STO) business will be launched by the end of the year at the earliest. Chen Peiquan predicted that by the end of this year, the income related to virtual assets will account for a quarter of the entire Victory Securities.
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2. Friend Tech Lianchuang published a statement saying that it was "excluded by the Base community" and intended to move out of Base
Racer said that the relationship between the friend tech team and Base has been unstable, and expressed exclusion from the Base community. The tweet is currently invisible. In response, Jesse Pollak, head of Base at Coinbase, tweeted that he acknowledged that the friend tech team felt isolated and disconnected from Base and parts of the Ethereum ecosystem. It would be sad if the team decided to leave Base, but they also respected and supported their choice. Huang Licheng Machi Big Brother has spent 4,873 ETH (about 15.35 million US dollars) to buy 8.048 million FIREND since FRIEND went online, and currently has a floating loss of 7.95 million US dollars (-52%).
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3. The X account of the well-known trader GCR was stolen in the early morning, and he posted a tweet about heavy positions in ORDI, causing ODRI to rise in the short term
The hacker established positions on OKX and Binance 6 minutes before sending a tweet from the GCR account. GCR then commented on its @GiganticRebirth account, saying that two months ago, an employee of X informed me that someone was accepting bribes to gain access to my account, so I strengthened security measures. However, if X employees were paid to gain administrator access, there would be no security. And reminded Musk to rectify operations. ZachXBT investigation pointed out that the CATmemecoin team "So!" was linked to the hacking of GCR Twitter last night.
4.JAN3 CEO: I don’t think politicians will support cryptocurrencies, which will be bad for Bitcoin in the long run
JAN3 CEO Samson Mow tweeted that he is not optimistic about politicians becoming supportive of "cryptocurrency"; given the previous hostile stance towards cryptocurrencies, the current change may feel good, but in the long run, it is not good for Bitcoin; without a strong Bitcoin spirit, this shift will only pave the way for the next FTX/Luna/Genesis, and we will pay the price for it again, and may cause politicians to take action against cryptocurrencies in emergencies. In addition, Samson Mow said in a discussion with netizens that he does not like politicians to confuse Bitcoin with other cryptocurrencies, and many other people who take a pro-cryptocurrency stance may not understand the difference between them at all.
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5. Korean media: Binance sold the asset claims of GOPAX victims at less than half of the face value, causing GOPAX to lose tens of billions of won
Initially, Binance promised to compensate 100% of the losses incurred by investors of the virtual deposit service GoFi due to the interruption of fund withdrawal last year (about 70 billion won at that time). In return, Binance acquired GOPAX shares at a price significantly below the market price and became its largest shareholder. However, Binance did not use its own funds to compensate, but sold the victims' asset claims at a low price to pay the compensation, which was actually a "debt for debt" behavior. In the process, after Binance sold the victims' asset claims, the prices of virtual assets such as Bitcoin rose sharply, resulting in an increase in the scale of victims. It is estimated that the amount of GoFi's debt, after deducting the repaid part, is currently about 100 billion won, causing GOPAX to lose at least tens of billions of won.
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6. Argentine regulators in talks with Salvadoran authorities on Bitcoin adoption
Argentine regulators have held talks with Salvadoran authorities on Bitcoin adoption. Senior officials from Argentina's National Securities Commission (CNV) met with the head of El Salvador's National Digital Asset Commission (CNAD) last week. The two sides discussed a cooperation agreement related to digital assets. Argentine officials hope to learn from El Salvador's experience in using Bitcoin as legal tender and plan to sign a cooperation agreement.
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7. Wu said this week's macro indicators and analysis: core PCE, Beige Book on economic conditions
Summary
Last week, the speeches and minutes of the Fed officials were generally hawkish, emphasizing that inflation control is not urgent to cut interest rates. This week, we will focus on the Fed's favorite inflation indicator, the US core PCE price index in April, and the Beige Book on economic conditions released by the Fed.
Last week review
●Minutes of the Federal Reserve meeting: It may take longer to cut interest rates, and many people are willing to raise interest rates once inflation risks rekindle.
●Speech by Federal Reserve officials:
○ Mester: In the latest forecast, the long-term neutral interest rate estimate was raised, and the current policy level may not be "as tight as expected";
○ Collins: It will take longer to see the progress needed to adjust interest rates;
○ Waller: If the data supports it, we may consider cutting interest rates at the end of the year. There is no need to raise interest rates at the moment. The possibility of inflation re-accelerating can be ruled out;
○ Barr: Reiterated the need to maintain high interest rates for a longer period of time;
○ Bostic: To ensure that inflation does not rebound, interest rate cuts are not expected before Q4.
●The minutes of the Reserve Bank of Australia’s monetary policy meeting in May showed that future interest rate changes are difficult to determine and restoring inflation to target levels remains the top priority.
●The Reserve Bank of New Zealand announced its interest rate decision and monetary policy statement. The market predicts that the Reserve Bank of New Zealand will keep the interest rate unchanged. The previous value was 5.50%, and the forecast value was 5.50%.
●The number of initial jobless claims in the United States for the week ending May 18 was 215,000, the lowest since the week of April 27, with expectations of 220,000 and a previous value of 222,000.
●The final value of the University of Michigan Consumer Confidence Index in May was 69.1, expected to be 67.5, and the previous value was 67.4.
This week's key events & indicators
May 30
●The Federal Reserve releases the Beige Book on economic conditions (02:00)
●2024 FOMC voting member and Atlanta Fed President Bostic speaks on economic outlook (07:00)
●Revised annualized quarterly rate of the U.S. PCE price index in the first quarter (20:30)
●Initial jobless claims in the U.S. for the week ending May 25 (10,000 people) (20:30)
May 31
●China’s official manufacturing & non-manufacturing PMI in May (09:30)
●U.S. core PCE price index annual rate in April (20:30)
●2026 FOMC voting member and Dallas Fed President Logan delivered a speech (05:00)
●2024 FOMC voting member and Atlanta Fed President Bostic delivered a speech (06:15)