Comprehensive summary of the crypto news for today:

Market Trends

➡️Global Market Capitalization: The global cryptocurrency market capitalization has increased by 1.3% over the past 24 hours, reaching $2.72 trillion.

➡️Top 100 Coins: Only five coins among the top 100 have seen their prices increase over this period.

Notcoin (NOT) saw the biggest increase by far: 28.1% to $0.01188. Bitget Token (BGB) rose 6% to $1.32.

Notable Events

➡️Tether (USDT): Tether Achieved Record Quarterly Profits as Market Cap Hits All-time High. The market cap increased by 0.98% to $111 billion, with USDT currently accounting for 69.3% of the market dominance among stablecoins.

➡️Gemini Returns Over $2 Billion in Crypto: Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program, providing a 242% return on assets since Jan. 2023.

➡️NFTs Susceptible to Fraud: The US Treasury released its first risk-assessment report on May 29, emphasizing that NFTs are “highly susceptible to use in fraud and scams,” primarily involving traditional schemes.

Other Developments

➡️ChatGPT-coded Memecoin: A memecoin created using the popular OpenAI chatbot ChatGPT reached a valuation of $638 million in a little over a year. The meme token, called Turbo, saw significant gains in the last three months, catapulting from a $27 million valuation to over $600 million.

➡️Ethereum Re-staking Victim Gets 80% of Funds Back: A user who lost 1,807 liquid staked Ether (ETH), worth nearly $7 million, has recouped most of their losses after the attacker only kept a share of the exploit as a bounty.

➡️Argentina Aims to Learn from El Salvador's Bitcoin Success: The government of Argentina is working with El Salvador to learn from its experience of Bitcoin (BTC) adoption and other cryptocurrency activities.

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