Nvidia leads the market capitalization and tops the list, and Ethereum ETF has seen net inflows for 11 consecutive days

U.S. data shows that despite concerns about risks from President Trump's tariff war, the U.S. labor market remains strong. Nvidia rose 2.8% on Tuesday, with its market value reaching $3.45 trillion, surpassing Microsoft to become the world's most valuable listed company. BTC briefly surged to $106,794 last night, falling back to above 105K before the deadline, with recent gains lacking momentum, and the Bitcoin ETF has seen net outflows for three consecutive days. The Ethereum ETF, however, has experienced net inflows for 11 consecutive days since 5/16. According to the U.S. Department of Labor report, U.S. job openings in April increased by 191,000 to 7.391 million, higher than expected, boosting market sentiment. The increase in job openings reinforced the Federal Reserve's judgment about the good labor market conditions. Although some economists are concerned about potential labor market softening due to tariffs in the coming months, this has not yet been reflected in the data, supporting the Fed officials' stance of maintaining stable interest rates. The Fed's rate decision meeting will begin on 6/18, with the market generally expecting the Fed to continue to wait and see, maintaining unchanged interest rates. The CME FedWatch indicates that investors expect the Fed to cut rates earliest in September, with only two rate cuts remaining this year. According to Bloomberg, the U.S. reiterated that Trump and Chinese President Xi Jinping will hold talks "soon". White House Press Secretary Karoline Leavitt stated that the U.S. government is actively monitoring China's compliance with the Geneva Trade Agreement. The White House said that the U.S. Trade Representative's Office has written to trading partners, reminding them of the upcoming negotiation deadline. Commerce Secretary Howard Lutnick said he is "very optimistic" about the prospects of a U.S.-India agreement. Meanwhile, Trump signed an order to raise steel and aluminum tariffs from 25% to 50% starting Wednesday, fulfilling his promise to support domestic manufacturers. U.S. metal prices surged on Monday. BTC briefly rose to $106,794 last night, falling back to above 105K before the deadline. Bitcoin's recent gains lack momentum, and the Bitcoin ETF has seen net outflows for three consecutive days. The Ethereum ETF has experienced net inflows for 11 consecutive days since 5/16. As of 6/2, the total assets of the U.S. Ethereum spot ETF have reached $9.37 billion, accounting for 3.06% of Ethereum's market value. The Ethereum Foundation (EF) announced organizational restructuring on 6/2, not only reducing some personnel but also reshaping the core development team structure, focusing on three strategic priorities: expanding mainnet (L1) scale, strengthening Rollup's Blobspace, and optimizing user experience (UX). Tether, the world's largest stablecoin issuer, has directly invested in the U.S. Bitcoin enterprise Twenty One Capital using Bitcoin. The company has gradually used raised funds to purchase Bitcoin and transfer them to related wallets, with the integration process nearly complete. The CEP rose 4.1% before the market today and has increased more than threefold since the announcement.

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37,229 BTC Successively Transferred to Twenty One Wallet

According to the tweet by Tether CEO Paolo Ardoino, the US Bitcoin enterprise Twenty One has successively purchased and transferred raised funds into BTC to its related wallets. The disclosed transactions are as follows:

• 10,500 BTC purchased by Softbank through Tether
• 4,812.22029710 BTC from private investors (raised through private placement and convertible debt of $500 million)
• 917.47360612 BTC from convertible debt investors (additional $100 million raised at the end of May)
• 14,000 BTC directly transferred from Tether
• 7,000 BTC directly transferred from Bitfinex

Twenty One currently owns 37,229 BTC.

Who Are the Initial Investors of CEP?

The US Bitcoin enterprise Twenty One will go public through a merger with the special purpose acquisition company (SPAC) Cantor Equity Partners (stock code CEP) under Cantor Fitzgerald, with Jack Mallers, founder of Strike, serving as CEO. The shareholder lineup includes Tether, Japanese Softbank Group, exchanges Bitfinex, and Cantor Fitzgerald.

Tether and Bitfinex will directly transfer 31,500 BTC in exchange for shares in the new company. The Softbank Group will purchase BTC through Tether with cash, becoming the second-largest shareholder.

After the transaction, Tether will have voting rights of 51.7%, holding absolute say.

CEP Will Be Listed with XXI Code

Before the transaction is completed, Twenty One will be listed on the Nasdaq exchange under the code "CEP". After the merger, it will be listed with the trading code "XXI".

CEP was priced around $10 in April, then rose continuously, reaching as high as $59 on 5/1, but has since fallen to $43, rising 4.1% before market opening today to $44.99.

Although the conversion timing has not been announced, and the "XXI" trading code cannot be found on the exchange, the official merger and listing are expected to be soon!