1. Popular Tokens on CEX

CEX Top 10 by Trading Volume & 24h Change:

• BTC: +1.64%
• ETH: -0.34%
• SOL: -0.12%
• XRP: -0.22%
• BNB: +0.17%
• ZEC: -28.62%
• WLD: +5.79%
• DOGE: -0.76%
• NEAR: -16.12%
• SUI: -4.25%

24h Gainers (Data Source: OKX):

• DEGEN: +28.66%
• MEME: +16.16%
• MON: +12.80%
• AERGO: +8.96%
• ROBO: +10.01%
• HMSTR: +9.48%
• VELO: +7.57%
• AI: +5.70%
• WLD: +6.05%
• OMI: +5.38%

24h Gainers: Crypto & Stocks (Data Source: msx.com):

• MRLN: +37.55%
• MNTS: +23.17%
• RDW: +14.66%
• AAOX: +13.38%
• SOXS: +12.42%
• LPTH: +12.29%
• UMAC: +10.15%
• SIDU: +9.56%
• DXYZ: +9.28%
• RXRX: +9.22%

2. Top 5 Trending Meme Coins On-Chain (Data Source: GMGN):

• Three
• Bountywork
• HUNTER
• AHS
• Magpie

Headlines

Fidelity Lowers Minimum Account Requirement for SpaceX IPO from $500,000 to $2,000

Fidelity has lowered the minimum account requirement for the SpaceX IPO from $500,000 to $2,000.

Japan May Have Sold Overseas Securities to Fund Currency Intervention

Japan's holdings of overseas securities decreased significantly in May, suggesting the government may have utilized foreign assets, including U.S. Treasuries, to finance its record currency market interventions over the past month. According to foreign exchange reserve data released by the Japanese Ministry of Finance on Friday, Japan's overseas securities holdings fell by $75.6 billion compared to April.

As of the end of May, Japan's total foreign exchange reserves fell to $1.09 trillion. Foreign currency deposits, another potential source of intervention funds, remained largely unchanged at $162 billion. Earlier, it was confirmed that Japan's intervention in the foreign exchange market hit a historic high of 11.73 trillion yen (approximately $73.4 billion) in the month ending May 28.

Sources: SpaceX Locks IPO Price at $135

According to sources familiar with the matter, SpaceX (SPCX.O) has informed the banks handling its $75 billion IPO that it has determined an offer price of $135 per share, which was disclosed in its amended IPO filing on Wednesday. This decision indicates Musk's determination to lead the largest IPO in history on his own terms, breaking with Wall Street tradition, although sources emphasized that the decision could still change before trading officially begins. SpaceX launched its IPO roadshow on Thursday. During the roadshow, the issuer and its underwriting banks typically gather investor feedback before holding a meeting the day before the stock is officially listed to finalize the IPO price. Three sources described market demand for SpaceX stock as "extremely ravenous." SpaceX is expected to officially list and begin trading on June 12.

Anthropic: Calls for a Global Pause on Frontier AI Development

Anthropic is calling on major AI labs to consider slowing down development, stating that AI systems are evolving so rapidly that they may soon be capable of self-improvement without human intervention, a capability that could pose significant societal risks. Internal data disclosed by Anthropic shows that the performance of its most advanced models is improving rapidly, and AI model progress appears to be moving towards "recursive self-improvement," where AI systems can autonomously optimize themselves without human input. Anthropic stated that it would be globally beneficial if countries could choose to slow down or temporarily halt frontier AI development, allowing social structures and related research to keep pace with technological advancements. Anthropic proposed a global agreement that would specify how to slow down the pace of AI development and establish mechanisms to verify whether competitors are adhering to the agreement.

Industry News

Grayscale HYPG ETF Lists, Total Net Inflow for US HYPE Spot ETFs Reaches $12.1494 Million in a Single Day

On June 4, Eastern Time, the Grayscale Hyperliquid Staking ETF (ticker: HYPG) officially listed on Nasdaq. The number of US HYPE spot ETFs now totals three.

According to SoSoValue data, yesterday (June 4, Eastern Time), HYPE spot ETFs saw a total net inflow of $12.1494 million in a single day. Among them, HYPG recorded a net inflow of $4.6973 million on its first full trading day post-listing, bringing its total historical net inflow to $4.6973 million. The Bitwise Hyperliquid ETF (BHYP) saw the highest single-day net inflow at $7.4521 million, bringing its total historical net inflow to $90.4123 million.

As of press time, the total net asset value of HYPE spot ETFs stands at $186 million, with a net asset ratio of 1.24% for HYPE, and cumulative historical net inflows have reached $152 million.

Nvidia Slashes Next-Gen Rack Memory Config, Causing Memory Stock Plunge? SemiAnalysis Founder Clarifies: Too Clickbaity

Last night, market reports indicated that a recent SemiAnalysis research note stated, "Nvidia's next-generation AI server cluster, Rubin NVL72, has made significant adjustments to its memory configuration. To address supply chain constraints and ensure timely delivery of Rubin racks, per-rack capacity has been slashed from the originally planned 55TB to 28TB, a reduction of roughly 50%, using a downgraded 96GB SOCAMM memory module instead of the previously planned 192GB high-spec module." Following this news, memory-related stocks, including Micron and SK Hynix, came under pressure and declined.

In response, Dylan Patel (@dylan522p), Founder, CEO, and Chief Analyst of SemiAnalysis, stated, "I love how people miss most of the content in the notes when they repost what we say. Our original report did not use this clickbait subscription lure."

Project News

Jane Street Plans to Build New Data Center, Aiming to Increase Compute Capacity 10-Fold

As computing resources become increasingly scarce, Jane Street plans to build its own data center to meet operational expansion needs. The firm is in preliminary discussions with several companies in the tech, crypto, and finance industries. The specific capacity and location of the new facility have not yet been determined.

Jane Street currently obtains its computing power from its Dallas data center and cloud service providers like CoreWeave. It is seeking to increase its compute capacity tenfold, expanding from the tens of thousands of GPUs currently in operation to hundreds of thousands. The new facility could be used to train internal AI models for predicting asset prices. Jane Street's Co-Head of Technology stated that innovation and experimentation are constrained by available computing power, and the firm is seeking additional capacity to support longer-duration risk position trading.

Zcash Patches Vulnerability Allowing Unlimited ZEC Minting; Exploitation Unverifiable Due to Privacy Pool Nature

On May 29, 2026, Taylor Hornby discovered a critical counterfeiting vulnerability in Zcash's Orchard pool. Hornby reported the vulnerability to the Zcash Open Development Lab, and parties cooperated to complete a fix by June 2. The vulnerability could have been exploited to secretly create an unlimited number of counterfeit ZEC within the Zcash Orchard pool. Due to Orchard's privacy features, it is cryptographically impossible to prove whether the vulnerability was exploited before the fix.

The vulnerability had existed since the activation of Orchard in May 2022 until the emergency fix was deployed on June 1, 2026. With the assistance of AI tools, Hornby wrote a full exploit program and generated unlimited, undetectable counterfeit ZEC in a local test environment. Currently, Shielded Labs is collaborating with other Zcash developers to explore network upgrade proposals that would allow anyone to verify the integrity of Zcash's supply.

Ether.fi Allocates $100 Million to Plume RWA Vault, Opening Access to Real-World Asset Yields

Plume has partnered with Ethereum liquid staking protocol ether.fi to launch a new RWA yield vault, offering ether.fi users yield opportunities from tokenized real-world assets.

Plume stated that ether.fi has exclusively allocated $100 million to this vault, sourced from its liquidity provider base and managed capital from existing yield products like liquid ETH, liquid USD, and liquid BTC. A representative from ether.fi noted strong market demand for yield products with institutional-grade risk controls and lower DeFi exposure.

Funding

Regulatory Developments

US House Committee Preparing Legislation to Establish Crypto Tax Framework

The US House Ways and Means Committee is preparing legislation to structure cryptocurrency taxation, potentially releasing it as early as Friday, followed by a hearing early next week. Ways and Means Committee Chairman Jason Smith has made establishing a digital asset tax framework a top priority, and the Treasury Department has also been involved in the process.

The committee is expected to release seven bills covering topics such as when tokens from mining or staking are taxable, exempting certain stablecoin transactions from capital gains tax, aligning tax treatment between digital assets and securities (including charitable donations), providing a safe harbor for foreign investors trading US securities without being taxed as domestic corporations, and extending wash sale rules to digital assets.

Notable Voices

CME CEO: 'Deeply Concerned' About US-Regulated Crypto Perpetual Contracts

Terry Duffy, CEO of CME Group, expressed deep concern about the perpetual contracts recently approved by US regulators. Duffy stated that perpetual contracts have little practical use for institutional investors while exposing retail investors to excessive risk. He said he completely disagreed with the CFTC's decision to approve the first crypto perpetual contracts after a rapid review and mentioned he has called the CFTC Chairman to voice his concerns.

Duffy warned that perpetual contracts and prediction markets are fueling a retail speculation frenzy, calling it a "disaster waiting to happen." The first batch of CFTC-approved perpetual contracts was listed by Kalshi, and several other US exchanges are also discussing launching their own perpetual contracts.

OCC Head: Political Pressure on World Liberty Bank License Application Only from Democrats

The US House Financial Services Committee held a hearing with bank regulators today, focusing on stablecoin rules and the bank license application of World Liberty Financial, a crypto venture associated with the US President.

During the hearing, Jonathan Gould, head of the Office of the Comptroller of the Currency (OCC), stated that the only political pressure his agency has felt regarding the decision on whether to grant a bank license to World Liberty Financial has come from Democrats, and he rejected allegations of following the President's instructions. Additionally, FDIC Chairman Travis Hill indicated that a rule proposal requiring stablecoin issuers to implement customer identification procedures will be put forward soon.