PANews

PANews, June 1 - Crypto KOL AB Kuai.Dong (@_FORAB) posted an analysis on platform X, stating that legendary trader James Wynn has today actively admitted to using multiple exchanges simultaneously. Previously, there were rumors in the market that he was opening positions on Hyperliquid while hedging in the opposite direction on several exchanges, which attracted widespread attention to the Hype platform and caused fluctuations in Meme coin prices. With James Wynn's admission of using multiple exchanges at the same time, the authenticity of this rumor seems to be increasing. As of now, James Wynn has not opened any positions on Hype, and has not traded in the last 24 hours.

PANews, June 1st news, Tether CEO Paolo Ardoino stated on the X platform that compared to other competitors, the market value of USDT has increased by over 5 billion USD in the past 30 days. According to the latest data from Coingecko, the total market value of stablecoins currently reaches approximately 250.2 billion USD, with USDT market value exceeding 153.1 billion USD, accounting for about 61.2%.

PANews June 1 report, Synthetix founder kain.avax posted on platform X that he has built a development environment with Cursor and designed a new client project, and will later add servers/databases to make the project more robust. Claude Opus has submitted a 10,000-line code Pull Request, and he spent 40 minutes rebuilding the entire project, which is now almost operational.

Previously, the stablecoin sUSD launched by Synthetix lost its peg. The SCCP-409 proposal has now been approved, providing additional support for the peg of sUSD. The staking requirement for sUSD from debt forgiveness (jubilee) participants has been increased from 10% to 20% to promote the restoration of sUSD's peg.

PANews, June 1, reported by The Fintech Times, states that the UK's Financial Conduct Authority (FCA) has released regulatory proposals for the issuance of stablecoins and the custody of crypto assets, aimed at supporting innovation and enhancing consumer protection. The proposal requires that stablecoins be fully backed by highly liquid assets to ensure users can redeem them at face value, and mandates that custodians ensure the security and accessibility of client assets. The public consultation period for this proposal will end on July 31, with formal implementation expected in 2026. However, opinions within the crypto industry are mixed:

1. Matthew Osborne, Director of Policy for Ripple UK and Europe, states that the FCA's proposals lay the groundwork for the UK to become a global leader in the digital asset space.

PANews June 1 report, dYdX announced on platform X that Season 2 of Surge has been completed and Season 3 has officially begun. The rewards for Season 2 are expected to be distributed to eligible users' wallets next week. It is reported that dYdX Surge uses a monthly points leaderboard mechanism, and rewards will be distributed according to points ranking, with a total monthly prize pool of $2.2 million.

On June 1, PANews reported that shareholders of Meta Platforms (META.O) voted against a proposal to incorporate Bitcoin into the company's finances at this week's annual meeting. It was reported that over 4.9 billion shares were voted against this move, with only 3.92 million shares in support. Following Microsoft's push for Bitcoin to become mainstream a few months ago, Meta Platforms became the latest large tech company to consider pressuring shareholders to incorporate Bitcoin into its assets. However, like Microsoft, shareholders voted down the proposal due to concerns over volatility. The proposal was submitted by investor Ethan Peck, a representative of the American National Public Policy Research Center, who suggested that the company explore the possibility of converting some cash and bonds into Bitcoin to better maintain shareholder value.

PANews June 1 news, according to CoinDesk, the price of ETH briefly fell to $2500 but then rebounded. Trading volume significantly increased around midnight, especially in the last hour, with over 48,000 ETH traded in two minutes, causing the price to break below the support range of $2515-2520.

On-chain data shows that approximately 385,000 ETH flowed into centralized exchanges such as Binance, triggering speculation in the market about potential sell-offs by institutional investors. Currently, the price of ETH is fluctuating in the $2500 range, which is seen as a key psychological and technical support level. Additionally, the global trade tensions and the increasing risk of US tariffs have heightened the market's risk-averse sentiment, causing the digital asset market to begin to fluctuate in sync with traditional markets.

PANews June 1st news, according to PRNewswire, the crypto hedge fund and market maker Acheron Trading announced that it has obtained the crypto asset service provider (CASP) license under the EU (Regulation on Markets in Crypto-Assets) (MiCA) issued by the Dutch Authority for the Financial Markets (AFM). Acheron Trading has currently invested in several companies and projects in the crypto field, including the cryptocurrency trading platform AscendEX, the social investment platform Zignaly, the native crypto cross-chain communication privacy network LiquidFactory, and the Web3 gaming information platform GAM3S.GG.

PANews June 1 news, according to Cointelegraph, France has charged 25 individuals, including 6 minors, who are suspected of committing a series of kidnappings and attempted kidnappings related to the country's cryptocurrency industry. According to a previous announcement from the Paris prosecutor's office, the ages of this group of suspects range from 16 to 23 years old, and they face multiple charges targeting well-known cryptocurrency figures and their families. Currently, 18 suspects are in pretrial detention, 3 have requested a hearing extension, and 4 remain under judicial supervision.

PANews, June 1st news - According to Globenewswire, AGM Group, a Nasdaq-listed blockchain ASIC chip development company, announced that it plans to execute a "1-for-50" reverse stock split effective June 3rd, reducing the total number of Class A common shares from 98,713,955 to approximately 1,974,279 shares, with each share valued at $0.05; the total number of Class B common shares will be reduced from 2,100,000 to approximately 42,000 shares, also with each share valued at $0.05. Trading will begin on June 3rd based on the post-split benchmark, with the stock symbol remaining "AGMH", but the CUSIP number updated to G0132V121.

PANews, June 1 - Alex Svanevik, CEO of the on-chain analytics platform Nansen, posted on platform X that a certain investor bought LOUD at a high point, but due to a price drop of about 69%, he has now lost $116,000.

Today's news highlights:

1. The U.S. SEC questions the legality of the Ethereum and Solana staking ETFs submitted by REX

2. The LOUD token sale has ended, with users expected to receive 225,000 and 56,250 LOUD respectively in the two phases

3. Analysis: The escalation of trade tensions triggered a pullback in the cryptocurrency market over the weekend, with rising risk aversion

4. MegaETH has regained control of X account

5. Cetus: Sui's isolated funds have been transferred to a multi-signature trust wallet

6. In May, about 20 cryptocurrency attacks occurred, with total losses reaching $244 million

7. Kraken initiates FTX creditor payouts, U.S. and international clients will receive funds in two batches

8. In the past week, NFT transaction volume decreased by 16.76% to $105.7 million, with both the number of buyers and sellers increasing

PANews reported on June 1 that this week, U.S. Treasuries experienced their first monthly decline this year. The U.S. dollar exchange rate fell for the fifth consecutive month, marking the longest decline since 2020. Spot gold fell by about 2% on Friday, barely achieving five consecutive months of gains, and the monthly line was almost flat. Traders weighed the Fed's cautious attitude, mixed inflation data, and the return of tariff uncertainty this week. Here are the key points that the market will focus on in the new week:

At 08:00 on Monday, Fed Governor Waller will speak on the economic outlook at the 2025 Bank of Korea International Conference;

PANews June 1st news, according to News.bitcoin reports, Panama City Mayor Mayer Mizrachi announced several initiatives at the Bitcoin 2025 conference. Mayer Mizrachi revealed that Panama's second-largest bank, Caja de Ahorros, will launch Bitcoin-based savings accounts, allowing its customers to utilize these custody services and simplify their Bitcoin experience.

Previously reported, the Panama City Mayor stated that he plans to prioritize the passage of vessels paying canal fees in Bitcoin and is considering establishing a municipal Bitcoin reserve.

PANews June 1 news, on-chain detective ZachXBT posted that the 300 BTC received by 'Silk Road' founder Ross Ulbricht's donation wallet appears to have been sent from Jambler (a rough centralized mixing service), while regular privacy enthusiasts use decentralized mixers (such as Wasabi, Samourai, etc.).

PANews June 1 news, according to monitoring by The Data Nerd, the whale following James Wynn still holds high-leverage long positions in BTC and ETH worth 272 million USD on Hyperliquid, with BTC being a 30x long position and a liquidation price of 94,766 USD. ETH is a 25x long position with a liquidation price of 1984 USD.

 

Original text: The Rollup

Translation: Yuliya, PANews

In the rapidly developing era of cryptocurrency and blockchain technology, Sam Kazemian, founder of Frax Finance, and Stani Kulechov, founder of Aave, are undoubtedly two leading figures in the stablecoin field. In a latest special conversation with The Rollup, they shared insights on the rapid growth of the stablecoin industry, the innovative journey of their projects, and their views on the impending regulatory changes, particularly how stablecoins have become the focus of the industry following the volatility in the crypto market in 2022.

Today, their focus is on the GENIUS Act, a milestone legislation that could elevate stablecoins to legal tender, fundamentally changing the global landscape of the dollar. This article will delve into Sam's and Stani's insights on the stablecoin market, their expectations for the legislation, and how stablecoins will shape the future financial ecosystem. PANews has translated this dialogue.

PANews June 1 report, according to monitoring by The Data Nerd, two new wallets have withdrawn a total of 14,739 ETH (approximately 37.17 million USD) from Coinbase and Kraken:

0xD22 withdrew 10,781 ETH (approximately 27.18 million USD)

0xd46 withdrew 3,958 ETH (approximately 9.99 million USD)

PANews June 1 news, Simon Gerovich, CEO of the Japanese listed company Metaplanet, tweeted that volatility is not a flaw of Bitcoin, but a signal, an energy, a fuel. It drives the flywheel and accelerates the accumulation of Bitcoin. Most importantly, the volatility of Bitcoin is attractive to capital.

Source: Marketing 101 for Startups: Token Launches, Memes, Reaching Devs & More

Organized & compiled by: lenaxin, ChainCatcher

Editor's Note:

This article is a translation of a16z's (Web3 Frontier) program, focusing on the marketing differences between the crypto and traditional tech industries. Guests include: Amanda Tyler, Claire Kart, Kim Milosevich. They will delve into practical experiences regarding reputation building, developer community operations, talent recruitment, token issuance, and shaping the founder's image, sharing effective methods and common pitfalls.

ChainCatcher has organized and compiled the content.