Giant Wynn's assets on the chain have been cleared Gemini applied for IPO in the United States

Headlines

▌James Wynn 's on-chain assets have been cleared and all transferred to CEX

According to @EmberCN monitoring, James Wynn's on-chain address has been cleared, and all remaining assets have entered CEX, with a total of 1.91 million USDC. Among them: Kucoin $1.5 million, MEXC $335,000, and Gate $75,000.

▌Crypto trading platform Gemini applies for IPO in the United States

According to Reuters, cryptocurrency trading platform Gemini secretly applied for an IPO in the United States. Previous reports that on March 8, according to Bloomberg, people familiar with the matter revealed that crypto trading platform Gemini has secretly submitted an IPO application in the United States and is working with Goldman Sachs and Citigroup. Whether to conduct an IPO in the end is still not determined. The move comes after the Securities and Exchange Commission (SEC) terminated its investigation into Gemini without taking any action. In addition, Gemini also reached a $5 million settlement with the U.S. Commodity Futures Trading Commission (CFTC) in January this year.

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Quotes

As of press time, according to CoinGecko data:

The price of BTC is US$101,642, with a 24-hour ups and downs of -3.0 % ;
The ETH price is US$2,420.45, with a 24-hour ups and downs of -7.3 % ;
The price of BNB is US$633.39, with a 24-hour ups and downs of -4.4 % ;
The SOL price is US$144.18, with a 24-hour ups and downs of -5.8%;
DOGE price is US$0.1719, with a 24-hour ups and downs of -8.7 % ;
XRP price is US$2.1, with a 24-hour ups and downs of -4.8 % .

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policy

▌Federal Vice Chairman of Regulation Bowman: Plan to reform and relax bank supervision

Bowman, the new top Fed’s regulatory official, has set an ambitious agenda to revisit and relax several banking rules and regulatory policies that she believes have become too heavy and unnecessary. Bowman said the Fed will rethink how it sets the rules and how it regulates some of the largest and most complex banks in the United States. She pointed out that a large number of rules introduced since the 2008 financial crisis deserve reconsideration. Bowman noted in particular that the Fed will consider revising its ratings for large banks, noting that two-thirds of large banks are still rated unsatisfied by Fed regulators even if they meet all capital and liquidity requirements. She said the proposed reform would address this strange mismatch by taking a more reasonable approach, namely, reducing some of the subjective rating weights of banks that have shown resilience. She also said the Fed will reconsider its rating framework for small banks to ensure it focuses on major risks rather than regulatory judgments. Bowman also said the Fed will strictly review what is called a “horizontal scrutiny,” which means that regulators conduct in-depth reviews of multiple banks on a particular issue. She believes that this approach actually leads to competition between banks and ignores their respective uniqueness when identifying defects.

▌Trump tax reform is expected to pass in the US Senate, and Republican lawmakers no support for Musk

The U.S. Congressional Republicans chose to stand on Trump's side in the open dispute between Trump and Musk, which is seen as an optimistic signal that the tax reform bill will eventually pass. Most lawmakers followed Trump's instructions and firmly supported the $3 trillion bill. Musk had previously threatened to give primary assistance to any candidates who voted against the bill, but lawmakers believe that maintaining a good relationship with the president is a safer choice for political survival. House Speaker Johnson said: "There is no danger to the tax reform bill, we will definitely let it pass... I tell you - don't doubt, don't question, and don't challenge US President Donald Trump. He is the leader of the party and the most influential politician of our time."

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Blockchain application

▌Microsoft releases AI Agent failure white paper

Microsoft has released the white paper "Classification of AI Agent System Failure Modes" to help developers and users better understand and solve various failures in daily agents. These faults are mainly divided into two categories: new faults and existing faults, and the causes of these faults and how to solve them are explained in detail.

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Cryptocurrency

Hyperliquid perpetual contract trading volume hits a new high, reaching US$248 billion in May

According to The Block, Hyperliquid hit a new high in perpetual contract trading volume, reaching US$248 billion in May, an increase of 843% year-on- year and 51.5% month-on-month. The platform has successfully accounted for 10.54% of Binance's perpetual contract traffic, a record high.

▌ Source: Pump.fun considers distributing agreement revenue to PUMP token holders

According to The Block, two people familiar with the matter revealed that Pump.fun is seeking to raise $1 billion through an initial token offering and consider sharing the deal's revenue with potential token holders. It is unclear how much Pump.fun's revenue, if any, will be allocated to the upcoming PUMP tokens through a "repo-driven utility structure" and it is also not sure if this will include revenue generated from the decentralized exchange PumpSwap, which was launched earlier this year. Pump.fun did not respond to multiple requests for comment.

▌Trump ' s crypto wallet battle ends with WLFI purchasing Meme coins

Eric Trump, son of U.S. President Donald Trump, said Friday that tensions between rival factions within the Trump crypto empire have cooled down and that his family's World Liberty Financial (WLFI) will buy "a large number of" Memecoin at the center of controversy. Eric said the company in charge of Trump Memecoin will not push forward digital wallet issuance, which has led to its disagreement with World Liberty Financial, a crypto company owned by part of the Trump family.

▌Musk and Trump have a war of words, affecting assets such as Dogecoin that are closely related to Musk

Dogecoin fell 10% on Thursday, and listed funds related to space exploration company SpaceX fell 13% after a public dispute between U.S. President Trump and former DOGE "advisor" Musk led to a decline in the value of Musk-related deals and some Trump-related deals. This highlights the risks of individually driven investment, where investors are attracted to products related to dominant figures such as Musk and Trump and are vulnerable to sudden changes in public image. The rise of crypto tokens, ETFs and other financial products has driven a speculative investment landscape that allows retail investors to bet on the wealth of billionaires like Musk and Trump, often without regard to traditional fundamentals.

▌Japanese listed company Remixpoint announced the purchase of 44.8 BTC worth US$4.7 million

According to a document released by Bitcoin Magazine, Japanese listed company Remixpoint announced that it had bought 44.8 BTC worth $4.7 million.

▌Trump 's second son: TRUMP token has reached a cooperation with WLFI, which will hold TRUMP

Trump's second son Eric Trump announced, "MEME Coin TRUMP has reached a partnership with WLFI. Although their Meme Wallet project is no longer advancing, they are still focused on building the world's most exciting MEME - Trump. In addition, we are proud to announce that World Liberty Financial plans to hold TRUMP on a large scale in its long-term vault. We have a shared ambitious vision in cryptocurrency, patriotism and long-term success. Stay tuned for more follow-ups!"

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Important economic trends

▌Bank of America: Global stock markets are close to triggering a sell signal

Bank of America strategist Michael Hartnett warned that global stocks are about to trigger technical “sell” signals after hitting record highs this week. He said the market is now overheating after soaring 20% ​​in just two months. He cites data on capital flows and market breadth as evidence that investors are pouring into risky assets and have overweight positions. Traders often use this as a bearish signal because it can theoretically indicate that the market purchasing power may run out quickly and the price will easily pull back. Data cited by Hartnett shows that inflows into stocks and high-yield bonds accounted for 0.9% of total assets in the past four weeks. He said that if that number rises above 1%, it would be a sign of investors selling. Meanwhile, the market is approaching the "overbought area". About 84% of countries have higher indexes than their 50-day and 200-day moving averages. He said that when the indicator reaches 88%, his selling trigger point is here.

▌Citi adjusts Fed rate cut expectations from July to September

Citigroup adjusted its forecast for the Federal Reserve's interest rate cut from July to September.

▌Federal Hack: Fed may still cut interest rates later this year

Fed Hacker said the deficit must be under control at a time when the U.S. financial system faces growing challenges and is "very concerned" about the current government's fiscal situation. "We are becoming increasingly blind in terms of key data. We are worried that the quality of economic data is declining. Uncertainty makes it very difficult to predict the outlook for monetary policy. But amid uncertainty, the Fed may still cut interest rates later this year."

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Golden Encyclopedia

▌What is the market depth of cryptocurrencies?

In cryptocurrency trading, the market describes the market's ability to withstand large quantities of orders without a significant impact on prices.

It is a liquidity indicator that shows the number of buy and sell orders for a given cryptocurrency at different price points. So, how is the market depth displayed? Depth maps are often used to illustrate these data. It draws the buy order (bid) on one side and the sell order (quest price) on the other side to reflect the price level.

Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference only and is not used as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.