Trump Media Submits Bitcoin Vault Plan Registration Files, Raising $2.3 Billion from 50 Investors
According to GlobeNewswire, Trump Media submitted an S-3 registration statement to the US SEC, involving a Bitcoin vault financing plan raising $2.3 billion from approximately 50 investors. The funds will be used to establish a Bitcoin vault and for general corporate purposes, registering 56 million shares and 29 million convertible notes. The file also includes a universal shelf registration to provide flexibility for subsequent capital operations.
Yuga Labs Proposes Dissolving ApeCoin DAO, Seeking Takeover by New Entity ApeCo
According to Decrypt, Bored Ape Yacht Club creator Yuga Labs CEO Greg Solano proposed abolishing the ApeCoin DAO, planning to transfer its assets and responsibilities to Yuga's new entity ApeCo, terminating governance rights for all APE holders. Solano criticized the DAO's inefficiency and resource waste, saying "it needs to stop". If the proposal passes, the DAO will be completely dissolved, all unexecuted proposals will be invalidated, and ApeCo will lead the development of ApeChain, BAYC, and Otherside projects.
[The translation continues in the same manner for the rest of the text, maintaining the specified translations for specific terms and preserving the structure of the original text.]According to Semafor, Wyoming Republican Senator Cynthia Lummis is pushing to add provisions to her party's tax and spending bill to reform the US taxation of cryptocurrencies. The core content includes extending the "wash sale rule" for securities to the crypto domain, expected to bring in billions in tax revenue while exempting Bitcoin miners from reporting gains and losses. Lummis submitted the tax reform proposal to Senate Finance Committee Chairman Mike Crapo, co-drafted with Senator Kirsten Gillibrand. Lummis emphasized the need to correct flaws in the current tax system, while Gillibrand believes the legislative timing is not yet mature. Finance Committee members have consulted with former President Trump about the bill, with Louisiana Senator Bill Cassidy revealing the president's interest in the "work account benefits" clause. If passed, this proposal would become the first systematic crypto asset tax framework in the United States.
According to CoinDesk, listed companies' enthusiasm for holding Bitcoin surged after Trump was elected president. A Binance research report shows that as of the end of May, 116 listed companies collectively hold 809,100 Bitcoins, valued at approximately $85 billion at current prices, a significant increase from 312,200 coins a year ago, with nearly 100,000 added since early April. Trump's active promotion of cryptocurrency development, such as establishing a strategic Bitcoin reserve, and new accounting rules allowing companies to recognize Bitcoin holdings gains, have also driven increased holdings. Additionally, new entrants like GameStop have begun accumulating Bitcoin, though strategic companies still hold the largest share. The report also noted that tokenization of real-world assets has grown over 260% this year, reaching $23 billion.
Trend Research posted on X platform that they are firmly bullish on Ethereum and have purchased 61,000 Ethereum call options on Deribit. Deribit Asia-Pacific Business Head LinChen also posted that ETH is strongly bullish, revealing that a mysterious buyer (suspected to be Trend Research) purchased 61,000 ETH call options expiring at the end of June with strike prices of $3,200 and $3,400, paying over $2 million in premiums.
Multi-chain DeFi project Origin Protocol announced in its official blog that after a successful governance proposal, 100% of protocol revenue will now be used to buy back OGN and distribute it to xOGN holders. This move will align Origin's growth with xOGN. As protocol revenue grows, OGN stakers will benefit accordingly. A series of OGN buybacks will soon be initiated to convert protocol revenue into OGN. These buybacks will be continuous, measurable, and transparent. No new issuance or inflation will occur—only sustainable revenue from protocol income. Additionally, a proposal was made to use DAO treasury assets to promote OGN staking, aiming to add over $3 million in buying pressure through buybacks. OGN buybacks will begin before July 4th.
According to Whale Alert, 600 million USDT were transferred from HTX to Aave 15 minutes ago. On-chain analyst Yu Jin noted that this brought Aave's USDT lending rates back to a normal range from around 30% APY: deposit rate at 3.73% and borrowing rate at 5.06%.
According to Jinshi, traders have completely repriced the possibility of a Federal Reserve rate cut in September.
According to Globenewswire, Trump's social platform Truth Social announced that it has submitted the initial registration statement S-1 form for a Bitcoin ETF to the US Securities and Exchange Commission. The ETF will directly hold Bitcoin and issue shares to investors, aiming to reflect Bitcoin's price performance. Crypto.com will serve as the exclusive Bitcoin custodian, primary executing agent, and liquidity provider. The launch of the Truth Social Bitcoin ETF is pending the effectiveness of the registration statement and approval of the 19b-4 form submitted to the SEC. After listing, its stock will be listed on NYSE Arca. Yorkville America Digital will serve as the ETF's sponsor.
According to Jinshi, the number of initial unemployment claims in the US for the week ending May 31 was 247,000, higher than the market expectation of 235,000, marking a new high since the week of October 5 last year.
According to official sources, DePIN project CUDIS has officially opened the first quarter token airdrop claim. Previously, the Solana ecosystem DePIN project CUDIS announced its token economics, with a total token supply of 1 billion, 25% allocated to the community. The first quarter airdrop will distribute a total of 50 million CUDIS tokens.
According to Decrypt, Curve Finance founder Michael Egorov revealed that "hired" hackers are coordinating cross-platform attacks, increasing the difficulty of DeFi security. Last month, Curve Finance suffered a DNS attack, with the front-end website compromised and users redirected to malicious sites. Egorov explained that despite using strong passwords and two-factor authentication, the domain registrar transferred domain ownership to another party without notifying the Curve management, leading to this attack. He pointed out that meticulously planned threat activities are becoming more common, potentially even involving bribes targeting specific projects. Compared to traditional finance, cryptocurrency risks are vastly different, as transactions are almost instantly completed and attacks are irreversible once they occur. Egorov emphasized that cryptocurrency security standards are extremely high, and existing internet infrastructure struggles to meet the demands.
According to Globenewswire, Nasdaq-listed business consulting company ATIF Holdings Limited (NASDAQ: ZBAI) announced today that it will strategically enter the Bitcoin domain and has developed a five-year plan to accumulate 1,000 Bitcoins through a combination of direct purchases and mining operations. As part of this plan, ATIF Holdings will adopt a hybrid strategy over the next five years, including: directly acquiring Bitcoin in the open market; building and operating its own Bitcoin mining facilities; and/or acquiring operational Bitcoin mining sites. The company has already purchased Bitcoin in the open market and plans to continue purchasing in the near future.
According to The Block, on Thursday, an independent miner successfully mined block 899826 through CKpool's solo mining software, receiving a 3.15 BTC (approximately $330,000) block reward, including a $327,600 block subsidy and $2,761 in transaction fees. CKpool developer Con Kolivas noted that the miner temporarily leased computing power to increase hash rate from 6.11 PH/s per week to 261 PH/s, completing mining with a probability of about 1/3050 (with a network hash rate of 796 EH/s at the time). This is the 300th block mined by an independent miner in CKpool's history, with similar cases also occurring in April 2024.
Beijing Public Security has created a first-of-its-kind seized token disposal mechanism: selling through compliant Hong Kong exchanges and remitting proceeds to the national treasury.
According to the Capital Public Security Law Enforcement Public Account, the Beijing Municipal Public Security Bureau's Legal System Division and the Beijing Equity Exchange (referred to as "Beijing Exchange") have created a cooperative mechanism for handling seized virtual currencies. Recently, the Legal System Division and Beijing Exchange held a signing ceremony for cooperation on seized virtual currency disposal. The deputy secretary and political commissar of the Legal System Division, Liu Yan, and the party committee member and deputy general manager of Beijing Exchange, Liang Xianjun, jointly signed the "Cooperative Framework Agreement for Seized Virtual Currency Disposal", incorporating seized virtual currencies into the "physical surrender" category and establishing a judicial disposal model for seized virtual currencies that is subject to qualified entities, compliant processes, fair pricing, and reliable security, continuously deepening the reform effectiveness of the "Beijing Model" for seized asset management. The public security organs will entrust seized virtual currencies to Beijing Exchange for disposal. After accepting the commission, Beijing Exchange will select professional service institutions to detect, receive, and transfer the seized virtual currencies, and sell them through a compliant Hong Kong-licensed exchange. After completing foreign exchange management approval procedures, the funds will be converted and transferred to the public security organ's special case account and submitted to the national treasury. Currently, this model has been successfully applied to dispose of seized virtual currencies in a case handled by the Shunyi Public Security Branch.
According to official information, the universal application layer protocol Skate has announced its token economics. SKATE is the basic utility and governance token of the Skate protocol, with an initial total issuance of 1 billion tokens. 10.00% is allocated to the team, 18.00% to the ecosystem and reserves, 10% for initial airdrop, and 45.50% to the community. Previous reports suggested that the universal application layer Skate may conduct its TGE on June 9.
According to CoinDesk, based on the latest 13F filing disclosure, investment advisory firms now hold Bitcoin spot ETF assets worth $10.28 billion (nearly half of institutional holdings), equivalent to 124,753 BTC, far exceeding hedge funds' $6.9 billion/83,934 BTC. Bloomberg ETF analyst Eric Balchunas estimates that current 13F reporting institutions represent about 20% of Bitcoin ETF total scale and may grow to 35%-40% in the future. Ethereum ETF is showing a similar institutionalization trend, with total holdings breaking $1.06 billion (587,348 ETH), including $582 million (320,089 ETH) held by investment advisors and $244 million (134,469 ETH) by hedge funds, indicating that institutional investors are expanding their crypto asset allocation.
According to the official page, Binance Alpha has added CUDIS.
According to The Defiant, a16z Crypto's policy head Miles Jennings noted in a June 2 blog post that the foundation model of projects like Ethereum and Solana has hindered industry development. He believes current foundations have four major flaws: 1) lack of market accountability; 2) legal restrictions on business activities; 3) low operational efficiency; 4) evolving into centralized managers. Maple Finance's growth lead Martin de Rijde added that corporate operation better adapts to rapidly changing market demands. a16z suggests adopting a standard development company instead of the foundation model, believing companies can more efficiently allocate resources and respond to market needs. The Uniswap Foundation is seen as a rare successful case. Jennings proposed two alternative solutions: 1) decentralized non-profit associations (DUNA) granting legal entity status to DAOs; 2) "cyborg organization" governance through on-chain tools. Analysts note that with improving US regulatory environment, offshore foundation models concealing control rights need to change.
According to the Binance Research Institute report, the Real World Assets (RWA) tokenization market size grew from $8.6 billion at the beginning of the year to $23 billion in the first half of 2025, an increase of 260%. Tokenized private credit occupies the largest market share (58%), followed by tokenized US Treasury bonds (34%). The report states: "As the regulatory framework becomes clearer, the industry will continue to grow and attract more major industry participants." The SEC's new crypto staking regulations issued on May 29 are seen as an important industry advancement, while the final vote on the GENIUS Act will provide clearer rules for stablecoin collateralization. Analysts note that Bitcoin price volatility is driving investors towards more predictably yielding RWA products. Additionally, a Binance Research Institute spokesperson stated that while summer might slow overall crypto market activity, regulatory environment and macroeconomic conditions remain key factors influencing business decisions.
According to Bitcoin.com, Paymium's chief strategy officer Alexandre Stachtchenko warned that the European Data Protection Board's (EDPB) latest draft guidelines could potentially make Bitcoin illegal in the EU. The draft treats blockchain public keys as personal data, requiring deletion under certain conditions, but blockchain's technical characteristics make data immutable. The EDPB explicitly stated that "technical infeasibility cannot be a reason for non-compliance with GDPR" and indicated that if fine-grained data deletion is impossible, they might require "deleting the entire blockchain". Stachtchenko criticized this stance as detached from technical reality, and noted that anonymization schemes are not recognized by existing regulations. The public consultation period ends on June 9, and if the draft passes, Bitcoin might be considered illegal for failing to meet data deletion requirements.
According to Cryptonews, the Russian Central Bank has published a draft proposing to allow domestic enterprises to purchase foreign stablecoins, seemingly prohibiting USDT and USDC purchases. The proposal is open for public comment until June 15. The draft stipulates that Russian legal entities not meeting "qualified investor" standards can trade such assets without restrictions. Local media suggests the rule changes may not open doors for Russian companies wanting to trade currencies like USDT and USDC. The central bank simultaneously proposed raising the annual digital financial asset (DFA) investment limit from 600,000 rubles (about $7,570) to 1 million rubles (about $12,600) and removing enterprise DFA purchase restrictions. If no major objections arise, the new regulations may take effect by the end of the month.
