1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: -2.86%
ETH: -6.85%
SOL: -5.21%
PEPE: -9.43%
XRP: -4.75%
DOGE: -8.89%
SUI: -6.29%
BNB: -4.7%
TRX: +1.94%
Trump: -9.32%
24 H increase list (data source: OKX):
RVN: +31.92%
CXT: +6.64%
HUMA: +4.09%
MASK: +2.16%
TRX: +1.93%
JST: +1.27%
HMSTR: +0.25%
ZKJ: +0.13%
2. 24-hour hot search currencies
Cudis (CUDIS): Binance alpha’s latest exclusive TGE project, see “ TGE launched on Binance Wallet, CUDIS’s “three horses” are launched simultaneously, and the crypto health track ushers in a new breakthrough ” for details.
Headlines
Odaily Planet Daily News: During the phone call between the Chinese and American heads of state, Xi Jinping pointed out that, based on the proposal of the US side, the economic and trade leaders of the two countries held talks in Geneva, taking an important step to resolve economic and trade issues through dialogue and consultation, which was generally welcomed by all sectors of the two countries and the international community, and proved that dialogue and cooperation are the only correct choice. Both sides should make good use of the established economic and trade consultation mechanism, uphold an equal attitude, respect each others concerns, and strive for a win-win result. In this regard, China is sincere and principled. (CCTV News)
Musk criticizes Trump tax cut bill, says it will lead to debt slavery
Odaily Planet Daily News Tesla CEO Elon Musk publicly criticized the Trump administrations latest comprehensive tax cut bill this week, saying it would lead to debt slavery and hinted that Bitcoin (BTC) should become the US reserve currency. The bill will add $2.4 trillion to the national debt and cut $3.75 trillion in taxes, and is expected to cause 7.8 million people to lose their health insurance qualifications. Musk called the bill a disgusting monster and attached an American flag emoji in response to Coinbase CEO Brian Armstrongs Bitcoin remarks. (Reuters)
Trump: Very disappointed with Musk
Odaily Planet Daily News: US President Trump said that even without Musk, I could win Pennsylvania and expressed disappointment with Musk, saying that I had helped him a lot. Musk was unhappy purely because the mandatory sales regulations for electric vehicles were cancelled. He hasnt said anything bad about me yet, but that will happen soon. (Jinshi)
Musk says Trump is so ungrateful
Odaily Planet Daily reported that Musk posted: Without me, Trump will lose the election, the Democrats will control the House of Representatives, and the Republicans will be at a disadvantage in the Senate 51 to 49. How ungrateful.
Trump says Musk government subsidies should be ended to save billions
Odaily Planet Daily News: Trump posted on Truth Social that the easiest way to save the budget is to end government subsidies and contracts for Elon Musk. This will save billions of dollars. Ive always been surprised that Biden didnt do this!
Musk: Trump appears in Epstein-related documents
Odaily Planet Daily reported that Musk posted on X, Its time to drop the real big bomb: Trump appeared in Epsteins documents. This is the real reason why these documents have not been made public. Have a nice day, DJT!
Odaily Planet Daily News: Trump posted on his social platform today that he did not care about Musks opposition, but his position should have been made clear a few months ago. He called the bill currently submitted to Congress one of the greatest bills in history, including a record $1.6 trillion in spending cuts and the largest tax cuts in history. Trump warned that if the bill fails to pass, taxes will rise by 68%, there are worse things than this. He emphasized that he did not create chaos, but was committed to fixing problems and making the country great, and called for making America great again.
Musk: Trump should be impeached
Odaily Planet Daily reported that Musk reposted a tweet discussing Trump should be impeached and replaced by JD Vance and commented, Yes.
Musk: Trumps tariffs could lead to a recession in the second half of this year
Odaily Planet Daily reported that Musk posted on the X platform that Trumps tariff policy will lead to an economic recession in the second half of this year.
Former Trump adviser calls for Musk to be deported
Odaily Planet Daily News: Steve Bannon, former senior adviser and chief strategist of US President Trump, called for Musk to be deported after the US President and the billionaire had a quarrel on social media. Bannon said in a telephone interview with The New York Times: They should open a formal investigation into his (Musks) immigration status, because I firmly believe that he is an illegal immigrant and he should be deported immediately. He also urged the Trump administration to cancel all government contracts with Musks company and investigate his suspected drug use.
Odaily Planet Daily News: Due to the fallout between Musk and Trump, Teslas stock price fell by more than 14%, and its market value shrank by $153 billion, creating the largest single-day drop in history. Musk holds about 12.8% of Teslas shares, and as a result, the market value of this part of the stock has shrunk by more than $19.5 billion.
According to Yahoo Finance data, Teslas stock price is currently at $286.99 after hours, a slight rebound.
Industry News
Circles after-hours price was $87.71, with a daily trading volume of over $47 million
Odaily Planet Daily reported that according to data from Yahoo Finance, Circles stock price rose 168.48% on its first day of listing, closing at $83.23 and its after-hours price at $87.71. The trading volume on the day reached $47.109 million.
Odaily Planet Daily News: Binance Wallet released an update to the Binance Alpha points rules. From 8:00 on June 6, only Alpha purchase transactions using Binance Wallet tokens or tokens listed on the Binance spot market will be eligible for Alpha trading volume points. Transactions using any other tokens will not be counted, and the sale of Alpha tokens will not affect trading volume points.
WLFI issues warning letter to FIGHT FIGHT FIGHT LLC
Odaily Planet Daily reported that according to market news, WLFI has sent a cease and desist letter to Trump-themed Meme project FIGHT FIGHT FIGHT LLC, requiring it to stop developing TRUMP Wallet related businesses.
Truth Social Files S-1 Registration Statement for Bitcoin ETF
Odaily Planet Daily reported that according to Walter Bloomberg, Trumps social platform Truth Social submitted a Bitcoin ETF S-1 registration statement to the U.S. Securities and Exchange Commission.
Binance has airdropped an additional 1,860 tokens to users who successfully claimed EDGEN
Odaily Planet Daily News: Binance announced that it has issued an additional 1,860 EDGEN airdrop rewards to users who successfully received EDGEN tokens.
Project News
TRUMP wallet official website associated with account X is frozen again
Odaily Planet Daily News According to relevant page information, the X account @TrumpWalletApp associated with the TRUMP wallet official website has been frozen again.
According to previous news, the TRUMP Wallet X account @TrumpWalletApp has returned to normal after a brief freeze. According to the official website of TRUMP Wallet, the wallet was jointly developed by Magic Eden and TRUMP Meme. However, Donald Trump Jr., the eldest son of Trump, said that the Trump Group has no connection with this wallet product, and WLFI will launch an official wallet.
Yuga Labs CEO plans to dissolve ApeCoin DAO, saying it is a waste of resources
Odaily Planet Daily News: Recently, Yuga Labs CEO Greg Solano proposed a plan to dissolve ApeCoin DAO and transfer its assets and responsibilities to ApeCo, a new entity created by Yuga Labs. Solano criticized that ApeCoin DAO has evolved from a promise to a slow, noisy and unserious governance performance, and resources were wasted on vanity proposals and low-impact plans.
The new entity will focus on supporting high-quality projects and strengthening the three core pillars of ApeChain, Bored Ape Yacht Club and Otherside. If the proposal is passed, ApeCoin holders will lose all governance rights. This move is part of Yuga Labs strategic reorganization. The company has recently sold NFT project IPs such as Moonbirds and CryptoPunks to refocus on its core business. (Decrypt)
Regulatory policies
U.S. initial jobless claims data higher than expected
Odaily Planet Daily reported that the number of initial jobless claims in the United States for the week ending May 31 was 247,000, higher than the market expectation of 235,000, and the highest since the week ending October 5 last year. (Jinshi)
Investment and Financing
Odaily Planet Daily News: Bitcoin mining company BitMine Immersion Technologies (NYSE American: BMNR) announced the completion of a public offering of 2.25 million shares, priced at $8 per share, raising a total of $18 million. The company plans to use the net proceeds to directly purchase Bitcoin.
At the same time, BitMine shares have been approved to be listed on the NYSE American exchange on June 5, with the stock code BMNR, and the original OTCQX market trading will be terminated simultaneously. (GlobeNewswire)
Odaily Planet Daily News: DA layer interoperability protocol Sunrise completed a US$3 million seed round of financing, with participation from Decima, Animoca Brands Japan, Hyperithm, Cogitent Ventures, MZ Web3 Fund, V3 V Ventures, Connectico Capital, MH Ventures and others. The new funds intend to support its integration of data availability layer and liquidity center functions into a single platform supported by Proof-of-Liquidity to achieve liquidity sharing.
DeFAI project HeyElsa completes $3 million in financing, led by M 31 Capital
Odaily Planet Daily News: DeFAI project HeyElsa announced that it has completed $3 million in financing, led by M 31 Capital, with participation from Coinbase Ventures Base Ecosystem Fund, MH_Ventures, AbsolutaDigital, 2 sharesfund, levitate_labs, etc. The funds will be used to build an artificial intelligence stack in the crypto field, convert natural language into on-chain operations and bridge the gap between SDKs, APIs, and infrastructure.
Character*Voice
Binance CEO: Binance holds nearly 59% of the stablecoin reserves of centralized exchanges
Odaily Planet Daily News: Richard Teng, CEO of Binance, posted on the X platform that the latest data from CryptoQuant revealed that Binance holds nearly 59% of the stablecoin reserves of centralized exchanges, worth approximately $31 billion.
Arthur Hayes: 2025-2027 may usher in a crypto IPO frenzy
Odaily Planet Daily News Arthur Hayes posted on social media today that the market has completed a cycle and the spirit of ICO in 2017 has now transformed into the crypto IPO boom of 2025-2027. This is the beginning of a frenzy that will end with an IPO like EOS that attracts huge amounts of fiat currency and plummets at the opening.
Odaily Planet Daily News Cryptoquant analyst Crypto Dan wrote that this round of crypto market bull cycle has significant differences in trend from 2017 and 2021. Although there were also short-term pullbacks and rises in the early days, since 2024, Bitcoin has repeatedly experienced strong pull-ups and rapid declines, during which time altcoins generally performed weakly, and market sentiment was frustrated.
He pointed out that this repetitive pattern of rising-suppressing may be the market main force deliberately suppressing the overheated market to extend the overall cycle time. This phenomenon is relatively rare in previous bull markets and may indicate that the current cycle will enter a bubble-like climax stage driven by emotions in the future.
