PA Daily | Trump posted a picture of PEPE and himself on Truth Social; Plume co-founder Eugene unfortunately passed away earlier this week

Today's news tips:

Pakistan announces plans to establish government-led strategic Bitcoin reserve

The U.S. SEC will hold a roundtable meeting on "DeFi and the American Spirit" on June 9

Trump's son predicts Bitcoin price will exceed $170,000 by the end of 2026

Musk denies xAI and Telegram deal has been signed, TON token price falls

Vance predicts that the number of US Bitcoin holders will double, claims that they still hold a considerable amount of Bitcoin

Plume co-founder Eugene tragically passed away earlier this week

Deribit: $11.7 billion in Bitcoin and Ethereum options are about to expire, and BTC’s biggest pain point is $100,000

James Wynn's highly leveraged operation has lost all of his $87 million in profits and lost $3 million in principal

Regulatory/Macro

The U.S. SEC will hold a roundtable meeting on "DeFi and the American Spirit" on June 9

According to the official announcement of the SEC, the Crypto Working Group of the U.S. Securities and Exchange Commission (SEC) announced that it will hold a roundtable meeting on "DeFi and the American Spirit" at its headquarters in Washington on June 9. The event will be live-streamed, with panel discussions and public Q&A sessions. Official participants include: SEC Chairman Paul S. Atkins; Chief Assistant for Crypto Affairs Richard B. Gabbert, SEC Commissioner Caroline A. Crenshaw, SEC Commissioner Mark T. Uyeda, and SEC Commissioner Hester M. Peirce. Guests include: Rebecca Rettig, representative of Jito Labs, representative of Paredes Strategies, representative of Espresso Systems Jill Gunter, DBA representative Michael Jordan, representative of Arktouros Michael Mosier, representative of MetaLeX Gabe Shapiro, representative of Venice AI Erik Voorhees, and Kevin Werbach of the Wharton School of Business.

The White House confirmed Musk's departure: his departure process began tonight local time

According to Jinshi, a White House official said that the news of Musk's leaving the government is true and his resignation procedure will begin tonight local time.

New York City Mayor Calls for End of NYDFS Crypto License Regime, Proposes Launch of 'BitBond'

According to CoinDesk, New York Mayor Eric Adams called for the abolition of the BitLicense crypto license system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference in Las Vegas, and proposed the idea of issuing Bitcoin municipal bonds "BitBond". Adams said: "Let's cancel the BitLicense and allow Bitcoin to circulate freely in New York," and promised to promote the creation of municipal bonds backed by Bitcoin. According to the plan released by the Bitcoin Policy Institute in March, 90% of the funds raised from such bonds will be used for government spending, and 10% will be used to purchase Bitcoin. Holders can receive 1% annualized interest and part of the Bitcoin appreciation income.

Polish presidential candidate Karol Nawrocki pledges to support crypto industry if elected

According to Bloomberg, the Polish presidential election has entered the final sprint stage. Nationalist candidate Karol Nawrocki recently released a video on social media promising that if elected, he will support the development of the cryptocurrency industry and oppose regulatory policies that restrict investment freedom. Although the candidate, who is supported by the Law and Justice Party, admitted that he does not hold digital currency, he emphasized that "Poland should be the birthplace of innovation rather than regulation." The latest polls show that Nawrocki and Warsaw Mayor Rafal Trzaskowski have similar support rates. Analysts believe that his crypto stance is intended to win supporters of far-right candidate Slawomir Mentzen, who won 14.8% of the votes in the first round of voting and is known for holding Bitcoin. It is worth noting that Trzaskowski also publicly opposed regulating the Polish cryptocurrency market in February.

Federal Reserve meeting minutes: economic uncertainty has further intensified, and option pricing suggests one or two rate cuts this year

According to CCTV News, on May 28 local time, the Federal Reserve released the minutes of the Federal Open Market Committee (FOMC) meeting from May 6 to 7. The minutes showed that the Federal Reserve agreed to maintain the target range of the federal funds rate between 4.25% and 4.5%. Participants agreed that the committee would carefully evaluate subsequent data, changing prospects, and the balance of risks when considering the magnitude and timing of further adjustments to the target range of the federal funds rate. The minutes stated that in assessing the appropriate monetary policy stance, the committee will continue to monitor the impact of future information on the economic outlook. If risks arise that could hinder the achievement of the committee's goals, they will be prepared to adjust the monetary policy stance as appropriate. Participants said their assessment would take into account a wide range of information, including labor market conditions, inflationary pressures and inflation expectations, as well as financial and international developments. The committee assessed that the uncertainty in the economic outlook has further intensified, and the risks of rising unemployment and rising inflation have increased. Participants noted that if inflation persists and economic growth and employment prospects weaken, the committee may face a difficult trade-off. The ultimate extent of the government's policy adjustments and their impact on the economy are highly uncertain. Against this backdrop, all participants agreed that it was appropriate to maintain the target range for the federal funds rate at 4.25%-4.5%. In considering the outlook for monetary policy, participants agreed that given the continued robustness of economic growth and the labor market, the committee was fully capable of waiting for a clearer outlook for inflation and economic activity. It is appropriate to adopt a cautious approach until the net economic effects of a series of government policy adjustments become clearer. In addition, according to Jinshi, the minutes of the Fed meeting pointed out that the baseline policy path implied by option prices (representing mainstream market expectations) moved slightly downward during this period, indicating that interest rates may be cut 1 to 2 times (25 basis points each time) by the end of the year.

Pakistan announces plans to establish government-led strategic Bitcoin reserve

According to Cointelegraph, Bilal Bin Saqib, chairman of the Pakistan Cryptography Committee, announced at the "Bitcoin 2025" conference in Las Vegas on May 28 that the country will establish a government-led strategic reserve of Bitcoin. The move marks a major shift in the Pakistani government's stance on cryptocurrencies, after the country had previously made it clear that it would never legalize cryptocurrencies. Saqib said Pakistan was inspired by US policy to take this action. In February 2025, the government established the "National Cryptography Committee" to explore the regulatory framework, and in May announced the allocation of 2,000 megawatts of excess electricity for Bitcoin mining and high-performance computing data centers. Binance co-founder Zhao Changpeng serves as an advisor to the committee. On April 27, Trump's World Liberty Financial (WLFI) signed a letter of intent with Pakistan to assist the country in tokenizing real assets and building a DeFi architecture. In May, the Pakistani Ministry of Finance also established a new "Digital Asset Management Bureau" to regulate crypto platforms and issue operating licenses.

Viewpoint

Strive CEO calls on Mark Zuckerberg’s Meta to buy Bitcoin to bolster its balance sheet

Strive CEO Matt Cole called Meta CEO Mark Zuckerberg during the Bitcoin 2025 conference, calling on Meta to buy Bitcoin to replenish its balance sheet.

Vance predicts that the number of US Bitcoin holders will double, claims that they still hold a considerable amount of Bitcoin

According to Jinshi, U.S. Vice President Vance welcomed the entry of cryptocurrencies into the "mainstream" of the U.S. economy, vowed to develop "innovation-supporting" rules for digital assets, and praised the cryptocurrency billionaires who supported Trump's bid for the presidency last year. Speaking to thousands of orange-clad Bitcoin investors in Las Vegas on Wednesday, Vance touted the rise of cryptocurrencies and predicted that the number of Americans holding Bitcoin would soon double. "We want our fellow Americans to know that cryptocurrencies and digital assets, especially Bitcoin, are part of the mainstream economy and are here to stay," Vance said on a stage named after Bitcoin's anonymous developer Satoshi Nakamoto. Vance said the Trump administration would quickly develop a regulatory framework for tokens pegged to the U.S. dollar. The next priority will be to create a "transparent and tailored digital asset regulatory framework - one that supports innovation and fully integrates cryptocurrencies into the mainstream economy." In addition, according to Cointelegraph, Vance claims that he still holds a considerable amount of Bitcoin.

Trump's son predicts Bitcoin price will exceed $170,000 by the end of 2026

According to The Block, Donald Trump Jr., the eldest son of US President Trump, and Eric Trump, the second son, predicted at the Bitcoin 2025 conference in Las Vegas that the price of Bitcoin may exceed $170,000 by the end of 2026. Eric revealed that Michael Saylor, the founder of MicroStrategy, had suggested that the Trump family mortgage Mar-a-Lago to invest in Bitcoin and guided them to establish a crypto asset reserve strategy. The Trump family has recently entered the crypto field in many businesses: the parent company of Truth Social plans to raise $2.5 billion to establish a Bitcoin reserve; the joint venture mining company American Bitcoin plans to go public through SPAC; and the World Liberty project plans to launch a stablecoin.

Project News

Plume co-founder Eugene tragically passed away earlier this week

According to Plume official news, Plume co-founder Eugene unfortunately passed away earlier this week. Officials said that Eugene was a talented and curious person who devoted a lot of effort and passion to the company and the community. The Plume team is currently focusing on supporting and caring for each other, and promised to continue to promote the Plume technology innovation that Eugene participated in building, and help realize life on the chain.

Binance Alpha to List Assisterr AI (ASRR)

According to the official announcement, Binance Alpha will be the first platform to list Assisterr AI (ASRR). The trading opening date is May 30, and the specific time will be announced later. Eligible users need to use Binance Alpha points to claim the airdrop on the Alpha event page. The event page and details will be launched on May 30.

Binance: Users with 193 or more Alpha Points can participate in the RDO TGE event

In response to Binance Wallet’s announcement that it will launch the 20th TGE: Reddio (RDO), Binance Wallet released an update stating that Binance users with 193 or more Binance Alpha points can participate in this TGE event through the Alpha event page. Participating in this TGE event will deduct 15 points.

Musk denies xAI and Telegram deal has been signed, TON token price falls

According to CoinDesk, Telegram founder Pavel Durov previously said that he had reached a cooperation intention with Musk and planned to introduce xAI's Grok artificial intelligence technology to Telegram this summer to provide services to more than one billion users and integrate it into all applications. The news once pushed the price of Telegram's related token TON up 14%. However, Musk tweeted on Wednesday night to clarify: "No agreement has been signed." As soon as this statement came out, the price of TON fell from $3.60 to $3.40.

Trump posted a picture of PEPE and himself on Truth Social

Trump posted a picture of PEPE and himself on Truth Social, with the caption "He is on God's mission, and nothing can stop what is about to happen."

Bithumb to List XTER Token in Korean Won Market

South Korean crypto exchange Bithumb announced that it will list the XTER token in the Korean won market, according to an official announcement.

Important data

Deribit: $11.7 billion in Bitcoin and Ethereum options are about to expire, and BTC’s biggest pain point is $100,000

According to Deribit official news, more than $11.7 billion of crypto options will expire at 16:00 on May 30. Among them, the nominal value of Bitcoin options is $10.03 billion, the Put/Call ratio is 0.87, and the maximum pain point price is $100,000; the nominal value of Ethereum options is $1.67 billion, the Put/Call ratio is 0.83, and the maximum pain point price is $2,300. Currently, call options with high strike prices dominate, indicating that the market is still interested in price increases, but volatility has weakened.

Abraxas Capital deposited 36,520 ETH, equivalent to $96.18 million, to Binance within 24 hours

According to OnchainDataNerd, Abraxas Capital deposited a total of 36,520 ETH into Binance within 24 hours, which is approximately US$96.18 million at the current price.

James Wynn's highly leveraged operation has lost all of his $87 million in profits and lost $3 million in principal

According to Ember's monitoring, BTC big holder James Wynn suffered serious losses due to high leverage operations. His opening price was $108,334, and the liquidation price was $106,314, with a leverage ratio of up to 40 times. At around 12:40, the BTC price once plunged to near its liquidation line (about $107,000), forcing him to partially stop loss to lower the liquidation line, with a single loss of $2.95 million. At present, James Wynn has given up all of his $87 million in profits and lost $3 million in principal. His current position is 4,604 BTC, with a total value of approximately $496 million.

Bitcoin spot ETFs had a total net inflow of $433 million yesterday, continuing a net inflow for 10 consecutive days

According to SoSoValue data, yesterday (May 28, Eastern Time), the total net inflow of Bitcoin spot ETFs was $433 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF IBIT, with a net inflow of $481 million in a single day. Currently, IBIT's total net inflow has reached $48.875 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Ark Invest and 21Shares' ETF ARKB, with a net outflow of $34.2903 million in a single day. Currently, ARKB's total net inflow has reached $2.653 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $130.291 billion, the ETF net asset ratio (market value to the total market value of Bitcoin) was 6.11%, and the historical cumulative net inflow has reached $45.344 billion.

Financing

BlackRock plans to buy about 10% of Circle's IPO, while Ark Invest plans to subscribe for $150 million in shares

According to Bloomberg, BlackRock, the world's largest asset management company, plans to subscribe to about 10% of the shares in Circle Internet Group's initial public offering (IPO). Circle and its shareholders (including CEO Jeremy Allaire) intend to raise up to $624 million through the IPO, and Ark Invest has expressed its intention to subscribe to $150 million of shares. Circle's USDC stablecoin is currently held by 90% of the reserves in the government money market fund managed by BlackRock, which has a size of $53.5 billion as of May 22. The IPO pricing will be determined on June 4, and the current subscription demand has exceeded the issuance volume by several times.

BlockSpaces Completes $2 Million Funding and Launches Bitcoin-Native Risk Management Platform ARCC

According to BlockSpaces' announcement, the company has completed a $2 million strategic financing led by Axiom, which will be used to launch ARCC, a Bitcoin native mortgage and risk management platform. The platform builds a trust-minimized execution environment through HTLC technology, supporting institutions to manage BTC mortgage contracts, forward transactions and BitBonds in a native way without the need for side chains or custodial bridges. BlockSpaces said that ARCC will usher in a new era of Bitcoin smart contract finance and promote the modernization of institutional capital market infrastructure.

Eternis AI, the team behind Freysa AI, has raised $30 million from Coinbase Ventures and other companies

According to The Block, the crypto AI project Freysa AI has quietly completed $30 million in financing through its affiliated entity Eternis AI, with participation from Coinbase Ventures and Selini Capital. The project is developed based on the Base blockchain and aims to build a "personal AI digital twin". A spokesperson for Selini Capital said the company invested in Freysa's token round involving its native FAI token, but declined to comment on the $30 million figure or share more details. A spokesperson for Coinbase Ventures said the company invested in Eternis as part of the project's $30 million financing. The Freysa team revealed in its Telegram group this month that it has received more than $30 million in funding. Eternis AI was co-founded in 2024 by Srikar Varadaraj (who founded the credit scoring project Spectral), Pratyush Ranjan Tiwari (former Celo member), Ken Li (former Binance Labs investment director) and Augustinas Malinauskas (former CTO of Views). The team says its members include PhDs in cryptography and theoretical physics and serial entrepreneurs.

Web3 game distribution platform Oncade completes $4 million financing, led by a16z crypto CSX

According to official news, Web3 game distribution platform Oncade announced the completion of a $4 million financing, led by a16z crypto CSX. According to reports, Oncade is committed to helping game studios increase revenue by enhancing player engagement and community interaction. Its core concept is to break the distribution model of traditional game platforms through a community-driven approach and build a game store directly for players.

ego.tech completes $800,000 Pre-Seed round of financing, with founders of multiple projects including Solana and dYdX participating

Solana ecosystem project ego.tech announced the completion of $800,000 in Pre-Seed round of financing, with investors including Sam Lessin of Slow Ventures, Solana co-founder Raj Gokal, and dYdX founder Antonio

Crypto VC Metalayer Ventures launches $25 million fund focused on stablecoins and tokenization

Metalayer Ventures, a crypto venture capital firm founded by former Chainlink and Two Sigma executives, announced the launch of a $25 million fund, focusing on early-stage projects in the fields of stablecoins, asset tokenization, and crypto infrastructure. Invested projects include seven companies including AnchorZero, Spark Capital, Ethena, and Theo. Co-founder Winton also developed a platform called "Moirai" to analyze on-chain data to discover potential projects. The fund plans to eventually provide early-stage financing for up to 30 companies, with a single investment expected to be between $500,000 and $1 million.

Conduit Completes $36 Million Series A Funding, Dragonfly Capital Leads Investment

Stablecoin company Conduit announced the completion of a $36 million Series A financing round, led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG and Commerce Ventures. This round of financing brings the company's total fundraising to $53 million, with an undisclosed valuation. Conduit was founded by Kirill Gertman in 2021 and focuses on building stablecoins and related infrastructure.

Institutional holdings of crypto assets

The Smarter Web, a listed company, increased its holdings by 24.53 bitcoins, bringing its total holdings to 83.24 bitcoins

According to an official announcement, the London-listed company The Smarter Web Company (AQUIS: SWC) announced that it has purchased an additional 24.53 bitcoins for 2 million pounds, with an average price of $109,828 per bitcoin. The company's total bitcoin holdings reached 83.24, with a total cost of approximately $6.58 million (average price of $105,829). The increase is part of the company's "Ten-Year Plan" digital asset strategy, which will accept bitcoin payments from 2023.

Matador Completes Second Non-Broker Private Placement Fundraising of Approximately $1.42 Million to Support Bitcoin Purchases

According to GlobeNewswire, Bitcoin technology company Matador Technologies Inc (TSXV: MATA) announced the completion of the second round of non-broker private placement, issuing 2,588,955 units at a price of C$0.55 per share, raising C$1,423,925. Together with the first round of issuance completed on May 26, the company issued a total of 5,452,773 units, raising a total of C$2,999,025. Each unit contains 1 common share and 0.5 warrants, and each full warrant can subscribe for additional shares at C$0.75 within 12 months. The funds raised will be used in three aspects: Bitcoin acquisition, gold business advancement and general corporate purposes. Earlier on May 27, it was reported that Matador completed approximately C$1.575 million in private placement financing to support the purchase of Bitcoin.

DeFi Development Corp announces it is the first public company to hold Solana’s liquidity staking tokens

According to GlobeNewswire, Nasdaq-listed DeFi Development Corp (code: DFDV) announced that it has adopted the Liquidity Staking Token (LST) technology developed by Sanctum, becoming the first listed company to invest in Solana Liquidity Staking Tokens. The company invested part of its SOL reserves in dfdvSOL, which represents the staked assets entrusted to the DeFi Dev validation node.

Metaplanet issues $21 million interest-free ordinary bonds to increase BTC holdings

According to an official announcement, Japanese listed company Metaplanet announced the issuance of $21 million interest-free ordinary bonds to purchase additional BTC.

VivoPower Completes $121 Million Funding Led by Saudi Prince, Focusing on XRP’s Crypto Reserve Strategy

According to CoinDesk, Nasdaq-listed energy company VivoPower International (VVPR) announced the completion of a $121 million private placement financing and will transform into a crypto asset reserve strategy centered on XRP. Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud led the $100 million investment, and former SBI Ripple Asia executive Adam Traidman will serve as chairman of the advisory board. According to SEC documents, the company plans to issue 20 million common shares at $6.05 per share.

SOL Strategies Submits Preliminary Prospectus, Intends to Increase Investment in Solana Ecosystem

According to an official announcement, Canadian listed company SOL Strategies Inc (CSE: HODL) announced that it has submitted a preliminary simplified basic prospectus to the Canadian securities regulator, intending to raise up to US$1 billion in the next two years through the issuance of common shares, warrants and other securities. The company focuses on investment and infrastructure construction in the Solana blockchain ecosystem, and has not yet determined a specific issuance plan. SOL Strategies CEO Leah Wald said that this move will provide the company with financial flexibility to seize investment opportunities in the rapidly growing Solana ecosystem. The simplified basic issuance must be approved by the final prospectus before it can be implemented, and the specific terms will be disclosed through a supplementary prospectus.

Spetz Inc. Raises $7.35 Million in First Private Funding Round to Purchase Sonic Tokens and More

According to Yahoo Finance, blockchain infrastructure company Spetz Inc (CSE: SPTZ) announced the completion of its first round of private placement financing, issuing 14,702,617 units at a price of 0.50 Canadian dollars per share, raising 7,351,308.50 Canadian dollars. Each unit consists of 1 common share and 0.5 warrants, and the warrant holder can subscribe for additional shares at 0.75 Canadian dollars per share within 24 months. The company's CEO Mitchell Demeter said that the financing will be used to purchase Sonic tokens, verify node infrastructure deployment and implement DeFi strategies. Participating institutions include Canaccord Genuity Financial and others. According to the announcements on March 24 and May 12, the private placement can issue up to 5,297,383 units, with the final deadline being June 23, 2025.

Matador Completes Second Non-Broker Private Placement Fundraising of Approximately $1.42 Million to Support Bitcoin Purchases

Earlier on May 27, it was reported that Matador completed private placement financing of approximately 1.575 million Canadian dollars to support the purchase of Bitcoin.

K33 receives SEK 60 million in funding to launch Bitcoin treasury strategy

According to K33 AB's announcement, the company has signed an investment agreement with shareholders including Klein Group, successfully raising 60 million Swedish kronor (about 6.23 million US dollars) to implement the Bitcoin treasury strategy. The funds will be used in full to purchase Bitcoin as an important part of the company's balance sheet. CEO Torbjørn Bull Jenssen said that Bitcoin will become a key component of the global financial system, and the company will use it to build an asset structure supported by BTC.