According to Mainstreet monitoring, the algorithmically stabilized U.S. dollar-pegged stablecoin Main Street USD (MSUSD) has depegged and is currently trading at $0.36, down 64.1% in the past 24 hours. Mainstreet responded that assets remain fully backed, and the recent closure of the third-party reserve proof dashboard does not represent a decrease in assets or deterioration of portfolio quality, but rather an infrastructure and reporting-level issue. Due to the reserve proof page being offline, the oracle supporting the Morpho market is expected to pause within the next 24 hours, which will accelerate the unwinding of leveraged loop lending positions and cause a significant increase in borrowing rates. Mainstreet stated that the primary goal at present is to protect NAV and maximize protocol liquidity, while continuing to prioritize safeguarding user funds, maintaining asset net value, and restoring normal market operations as soon as possible.

Odaily reports According to South Korea's National Assembly Act, the petition to abolish "virtual asset (cryptocurrency) taxation" has garnered 58,571 approvals. Thirty days after being referred to the relevant committee, the petition will be submitted for deliberation at the committee's first meeting.

Under South Korea's current Income Tax Act, starting from January 1, 2027, income from the transfer or lending of virtual assets will be classified as other income and subject to income tax. Virtual asset gains exceeding 2.5 million Korean won (approximately $1,800) will be taxed at a comprehensive rate of 22%, which includes a 20% other income tax and a 2% local income tax. (Edaily)

Odaily reports that U.S. Vice President JD Vance stated in an interview with "CEO Diary" that Trump supports the establishment of a U.S. sovereign wealth fund to hold equity in frontier AI companies. Vance believes that large AI companies should not be allowed to develop into unconstrained monopolies and advocates for mechanisms of state ownership and labor participation, allowing ordinary workers to directly share in the economic dividends brought by AI.

In response, Musk publicly replied on X platform, stating that a better solution than the government holding corporate equity is for the Treasury to directly distribute money to the people. Musk said that as AI and robots drive growth, the supply of goods and services will outpace the growth of the money supply, so direct cash payments will not cause inflation. The real challenge in the future will be dealing with "major deflation."

The divergence between the two primarily lies in the approach to wealth distribution. Vance favors national participation in production-side revenue distribution, while Musk advocates for directly subsidizing the public on the consumption side, opposing government intervention in corporate ownership structures.

Odaily Odaily reports that prediction market platform Polymarket has been accused of promoting its products on social media by paying creators to post videos featuring simulated trading and fake profits.

According to the report, the creators used simulation sites that closely resemble Polymarket's actual website to produce trading videos. Some of the content showcased high returns that did not actually occur, and certain videos required approval from Polymarket before posting. Polymarket managed these influencer campaigns through the marketing firm Virality. Despite its services being restricted for US users, the promotional activities still appear to have been targeted at an American audience.

Furthermore, the Wall Street Journal reported that Polymarket had a multi-million dollar promotional partnership with influencer Adin Ross to drive user engagement on the platform. Polymarket has not yet issued a public response to these allegations. (Wall Street Journal)

Odaily Odaily Planet Daily News: Tesla has officially filed a trademark registration application for "Amazing Abundance," covering AI, humanoid robots, autonomous driving systems, and automation technology.

Odaily reported that crypto analyst Murphy stated that Strategy currently does not face a preferred stock solvency crisis. He believes that to breach Strategy’s preferred stock tier, Bitcoin would need to drop to $26,000; to breach the debt tier, it would need to fall to $8,000.

Murphy noted that the similar product SATA remained above $99 this week, while STRC experienced a depeg, indicating that the current market selling pressure is more targeted at Strategy itself rather than being a product design flaw. He views this more as a repricing of leverage and credit, alongside a liquidity contraction triggered by cash reserve depletion and amplified signals from the first-ever sale of Bitcoin, rather than a liquidation crisis.

Murphy stated that Strategy is still a long way from forced liquidation; however, at the current price level, its ‘flywheel model’ has temporarily stalled. The subsequent price trend of Bitcoin will determine whether this is a mid-cycle adjustment or the beginning of deeper risks. He believes that comparing the STRC depeg to the UST depeg and LUNA collapse of the previous cycle is a clear overreaction. If Bitcoin prices recover and equity ATM financing resumes, Strategy could restore its cash reserves and restart its capital operation model.

1: "White-haired stock guru" Serenity responds to criticism: The market is the ultimate judge of right and wrong, not angry comments on social media platforms;

2: Well-known MEV bot Jaredfromsubway.eth suffers a reverse attack, losing over $7.5 million;

3: South Korea's preliminary storage chip exports in the first 20 days of June surged significantly year-on-year, with SSD exports up 405%;

4: US media: The Iran war is draining Pentagon funds, potentially pushing defense spending to $80 billion;

5: Tether co-founder: Stablecoins will enter the 2.0 era, where users should share in reserve yields;

6: Reviewing the timeline of STRC falling below $100: Strategy's Bitcoin capital model faces a stress test;

7: Hyperliquid: All USDH-denominated markets on HyperCore have been settled;

8: Author of "Rich Dad Poor Dad": Gold, BTC, and ETH may see opportunities for a rally;

9: Axelar responds to security incident: Axelar and IBC were unaffected; the vulnerability stemmed from an "unlimited minting" issue in a third-party token contract;

10: Galaxy Research Head: Tokenized stocks are mainly divided into two categories: those supported by the issuer and those supported by third parties.

According to OKX market data, gaming tokens across the blockchain gaming sector have strengthened collectively over the past 24 hours. Among them, AXS rose 23.43% to 1.254 USDT; SAND rose 21.3% to 0.063 USDT; and MANA rose 20.56% to 0.081 USDT.

Odaily reported that US media coverage indicates the ongoing military operations in Iran are placing significant pressure on the US defense budget and ammunition stockpiles. According to the Wall Street Journal, citing sources, internal estimates within the US Department of Defense suggest the war and related expenditures may have already approached or reached the $80 billion mark. Officials warn that if spending continues to expand, the Pentagon could face operational funding shortfalls by summer, requiring Congress to approve emergency supplemental funding. The report notes this funding gap has not yet materialized as a formal budget request but has been raised in communications between senior defense officials and Congress. A former Pentagon financial official stated that initial estimates were around $29 billion, but actual costs could be significantly higher. Meanwhile, the conflict has also been noted to substantially deplete key US ammunition stockpiles, including THAAD and Patriot interceptor missiles. Multiple research institutions have analyzed that the US has consumed a significant percentage of relevant stockpiles, with replenishment cycles for certain types taking years, raising concerns about the military's supply chain replenishment capabilities. Additionally, a new defense authorization bill moving through Congress is expected to have a total size exceeding $1 trillion, including billions of dollars in funding for Israel-related defense systems and cooperative projects, sparking ongoing debate over the structure and resource allocation of US global military spending.

According to PeckShieldAlert monitoring, the MEV bot JaredFromSubway attacker stole a total of 1,474.58 WETH, 2.87 million USDC, and 2 million USDT.

The attacker subsequently swapped some of the assets for 4,400 ETH and has transferred 1,000 of those ETH into Tornado Cash. Previously, JaredFromSubway fell victim to an "anti-MEV honeypot attack," resulting in the theft of approximately $7.5 million worth of assets.

Odaily News: Citrini analyst jukan posted on platform X that South Korea's preliminary export data for June 1-20 shows DRAM (including modules) up 342% year-on-year and 3% month-on-month; NAND flash up 336% year-on-year and 28% month-on-month; MCP (HBM) up 209% year-on-year and 51% month-on-month; SSD up 405% year-on-year and 25% month-on-month.

Odaily reports that Jaredfromsubway.eth, a well-known MEV bot long active on the Ethereum network, has been attacked by hackers exploiting a vulnerability in its automated execution system, resulting in losses exceeding $7.5 million.

Security firm Blockaid stated that the incident was not a traditional phishing attack or smart contract vulnerability, but rather an "anti-MEV honeypot attack" specifically targeting the decision-making logic of the MEV bot. Over several weeks, the attacker deployed 66 fake token contracts and false liquidity pools, masquerading as assets such as WETH, USDC, and USDT, luring the bot into executing seemingly profitable trades and authorizing auxiliary contracts controlled by the attacker.

Ultimately, in a single transaction, the attacker invoked all backdoor permissions to transfer the ETH, USDC, and USDT held by the bot's address. Data shows that between November 2024 and October 2025, the Ethereum network experienced approximately 60,000 to 90,000 sandwich attacks per month, with about 70% of them linked to Jaredfromsubway.eth. (Cointelegraph)

Odaily Odaily reported that Cuban Foreign Minister Rodriguez stated on the 20th that, as the executor of collective punishment against the Cuban people, the U.S. government has no political, legal, or moral authority to judge the reform measures adopted by Cuba. Rodriguez said on social media that these measures taken by Cuba are based on national sovereignty and the right to self-determination, aimed at addressing the impact of "extreme economic oppression." Regarding how Cuba adapts to the new domestic and international realities, the U.S. opinion is "irrelevant." He stated that Cuba will continue to defend its sovereignty while firmly opposing foreign interference. (Xinhua News Agency)

Odaily reported that the Galaxy Research Head posted on platform X, stating that tokenized stocks have garnered widespread attention. Apart from Operate, tokenized stocks are broadly categorized into two types: issuer-supported, such as GLXY; and third-party supported, such as Ondo, xStocks, etc. Coinbase has announced its own version but has not yet detailed how it will operate.

Odaily Planet Daily News: Cross-chain protocol Axelar Network has issued a statement regarding the recent security incident related to Secret Network, clarifying that there is a misunderstanding within the community. Neither Axelar nor the Inter-Blockchain Communication Protocol (IBC) was attacked or compromised. The affected token smart contract was not developed, deployed, or maintained by Axelar. Furthermore, Axelar's firewall mechanism prevented the impact from spreading to other chains.

It is reported that the exploited contract was a fork based on the CW20-ICS20 implementation, but the developers removed two core security checks, leading to an "infinite mint" vulnerability. By deleting the verification mechanisms originally designed to prevent such issues, this fork altered the contract's original trust model and was not subjected to a new security audit.

Axelar Network explained that anyone can deploy contracts via IBC for wrapping cross-chain assets, and similar contracts are used to wrap tokens from other chains onto Secret Network. However, the specific fork on the Secret side in this incident contained a vulnerability due to the removal of critical security checks. This incident was not caused by an inherent logic flaw or an issue with the IBC protocol itself, but rather a security risk introduced by modifications made to the third-party contract.

Odaily reports that according to Hyperbot data, the whale "pension-usdt.eth" has just opened another 3x leveraged ETH short position and is continuously increasing its position. The address currently holds 8,364.3629 ETH, with a position value of approximately $14.5 million.