Headlines
▌Pump.fun Plans 10 Billion Dollar Token Sale with 40 Billion Dollar FDV
Two sources told Blockworks that pump.fun plans to raise 10 billion dollars through a token sale. The token's FDV will be 40 billion dollars after the sale. Sources added that the token will be offered to public and private investors. The token's launch timing and platform are not yet confirmed, with some sources suggesting it could be released within the next two weeks.
▌Satoshi Nakamoto's Net Worth Exceeds Bill Gates'
Arkham stated on social platforms that Satoshi Nakamoto is now wealthier than Bill Gates, with Satoshi Nakamoto's net worth at 116.7 billion dollars and Bill Gates' net worth at 116.2 billion dollars.
Market
According to CoinGecko data at the time of writing:
BTC price is $105,404, with a 24-hour change of -0.4%;
ETH price is $2,595.45, with a 24-hour change of -0.6%;
BNB price is $661.39, with a 24-hour change of -0.8%;
SOL price is $155.18, with a 24-hour change of -0.8%;
Doge price is $0.1932, with a 24-hour change of -1.2%;
XRP price is $2.25, with a 24-hour change of +2.2%.
Policy
▌Former Bank of China Vice President: US Dollar Stablecoin Development Brings Profound Warning to China
Former Bank of China Vice President Wang Yongli wrote that the US dollar stablecoin market value has exceeded 240 billion dollars, accounting for over 99% of global fiat stablecoins, with an annual settlement volume of over 27.6 trillion dollars, surpassing Visa and MasterCard. The US is actively legislating to support crypto assets and US dollar stablecoins, aiming to seize the high ground in digital finance and enhance the dollar's international influence. Wang suggested China adjust its crypto asset and stablecoin policies, learn from Hong Kong's stablecoin regulation, and consider launching an offshore RMB stablecoin. He emphasized that by combining digital currency and digital identity advantages, China can potentially lead in digital finance and digital economy development.
▌House Financial Services Committee Chair: Both Houses Still Need to Reach Consensus on Stablecoin Bill
US House Financial Services Committee Chair French Hill stated that before the stablecoin bill becomes law, the House and Senate still need to agree on some issues. The Senate may approve its version of the bill, the GENIUS Act, as early as this week. In recent weeks, the stablecoin bill has passed early procedural votes in the Senate Banking Committee and Senate with strong bipartisan support. However, the bill was delayed due to Democratic opposition, who argue it lacks sufficient measures to prevent illegal activities and should prohibit public officials from participating in such businesses.
Blockchain Applications
▌Trump Crypto Dinner Attendees Receive Limited Edition NFTs, Rarest Version Sold for $16,000
Following Trump's crypto dinner for the first 220 holders of his official meme coin TRUMP at the National Golf Club in Washington, attendees and registrants recently received a limited edition Solana chain NFT airdrop. These NFTs are divided into three levels: "Power to the Holders" (sent to 1,049 addresses), "Gold Gala Dinner" (sent to 219 attendees), and the rarest "Diamond Hands" (sent to 118 participants who held the token throughout). The rarest "Diamond Hands" NFT has been sold for 99.9 SOL (approximately $16,000), while the "Gold Gala Dinner" series floor price is 48.15 SOL (approximately $7,700). The official statement describes these NFTs as "historical collectibles of the crypto president" with no current practical use.
▌Digital Wealth Management Platform Scalable Capital Completes 155 Million Euro Funding
German digital wealth management platform Scalable Capital announced completing 155 million euros in funding, led by Noteus Partners, with participation from Balderton Capital, Tencent, and HV Capital. Founded in Munich in 2014 by Erik Podzuweit and Florian Prucker, Scalable Capital supports client investments in over 8,000 stocks, 2,500 ETFs, 3,500 funds, and cryptocurrencies.
▌Trump's Son: Newly Launched TRUMP Wallet Has No Connection to Trump Group, WLFI to Launch Official Wallet
Donald Trump Jr., co-founder of WLFI, clarified that the Trump Group has no association with the wallet product (developed in collaboration with Magic Eden and TRUMP Meme). He stated that neither Eric Trump nor he knew about it, and asked people to stay tuned for the official wallet from World Liberty Financial, which they have been working on.
Cryptocurrency
▌Bloomberg Analyst: IBIT Bitcoin Holdings May Surpass Satoshi Nakamoto by End of Next Year
Bloomberg Senior ETF Analyst Eric Balchunas predicted that IBIT (BlackRock Bitcoin Spot ETF) will likely surpass Satoshi Nakamoto as the world's largest Bitcoin holder by the end of next year, highlighting the ETF's advantages in convenience, low cost, high liquidity, and credibility.
▌Trump's Truth Social Submits Bitcoin ETF Application
According to a document obtained by Bitcoin Magazine, Trump's Truth Social has submitted a Bitcoin ETF application.
Important Economic Developments
▌White House: Trump Signs Order to Increase Steel and Aluminum Tariffs, Effective June 4 at Dawn
The White House announced that the President has signed an order to raise steel and aluminum import tariffs to 50%, effective from 00:01 Eastern Time.
Jinse Finance Encyclopedia
▌What are Ethereum Futures ETFs and How Do They Work?
Ethereum Futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself.
Consider a contract promising to buy Ethereum at a specific price in the future. These derivative contracts are traded through Ethereum (ETH) Futures Exchange Traded Funds (ETFs), providing a regulated method to invest in Ethereum using a brokerage account.
Disclaimer: Jinse Finance, as a blockchain information platform, provides article content for informational purposes only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to improve risk awareness.
