1. Popular CEX Tokens

CEX Top 10 Trading Volume and 24-hour 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%

24-hour 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%

24-hour Crypto-equity Gainers (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 On-Chain Meme Tokens (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 reduced the minimum account requirement for the SpaceX IPO from a maximum of $500,000 to $2,000.

Japan May Have Sold Overseas Securities to Fund FX Intervention

Japan's holdings of overseas securities decreased significantly in May, suggesting the government may have used overseas assets, including US Treasuries, to fund its record currency market interventions over the past month. According to foreign exchange reserve data released by the Japanese Ministry of Finance on Friday, the country's holdings of overseas securities decreased 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. It was previously confirmed that Japan's intervention in the foreign exchange market in the month through May 28 hit a record high of 11.73 trillion yen (approximately $73.4 billion).

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 set the offering price at $135 per share, which was disclosed in its amended IPO filing on Wednesday. This decision indicates that Musk is determined to steer the largest IPO in history on his own terms, breaking with Wall Street tradition, although sources emphasized that this decision could still change before the official trading date. SpaceX launched its IPO roadshow on Thursday. During the roadshow, the issuer and its underwriters typically gather investor feedback before meeting the day before the stock starts trading to finalize the IPO price. Three sources described demand for SpaceX stock as "extremely hungry." SpaceX is expected to begin public trading on June 12.

Anthropic: Calls for a Global Pause on Frontier AI Development

Anthropic has called on leading AI labs to consider slowing down their development pace, stating that AI systems are evolving extremely fast and may soon be capable of self-improvement without human intervention, a capability that could pose significant social risks. Internal data disclosed by Anthropic shows that the performance of its most advanced models is rapidly increasing, and the progress of AI models appears to be moving towards "recursive self-improvement," where AI systems can optimize themselves without human intervention. Anthropic stated that it would be globally beneficial if the world could choose to slow down or temporarily pause frontier AI development, allowing social structures and related research to keep pace with technological advancements. Anthropic proposed a global agreement to define how to slow down AI development and establish mechanisms to verify whether competitors are complying.

Industry News

Grayscale's HYPG ETF Lists; US HYPE Spot ETFs See Total Net Inflow of $12.1494 Million in a Single Day

On June 4th EST, the Grayscale Hyperliquid Staking ETF (ticker: HYPG) officially listed on Nasdaq. The total number of US HYPE spot ETFs now trading stands at 3.

According to SoSoValue data, yesterday (June 4th EST), HYPE spot ETFs recorded 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 fund with the highest single-day net inflow was the Bitwise Hyperliquid ETF (BHYP), with a single-day net inflow of $7.4521 million and a total historical net inflow of $90.4123 million.

As of press time, the total net asset value of HYPE spot ETFs stands at $186 million, the HYPE net asset ratio is 1.24%, and the cumulative historical net inflow has reached $152 million.

Memory Stocks Plunge on Report NVIDIA Drastically Cuts Next-Gen Rack Memory? SemiAnalysis Founder Clarifies: Too Clickbaity

Last night, according to market sources, the latest research report from SemiAnalysis stated, "NVIDIA's next-generation AI server cluster, Rubin NVL72, has made significant adjustments to its memory configuration. To cope with supply chain constraints and ensure timely delivery of the Rubin racks, the per-rack capacity has been slashed from the original plan of 55TB to 28TB, a reduction of about 50%, using a reduced-spec 96GB SOCAMM memory module instead of the previously planned 192GB high-configuration module." Possibly due to this news, memory-related stocks including Micron and SK Hynix experienced downward pressure.

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

Project News

Jane Street Plans to Build New Data Center, Aiming for 10x Increase in Compute Capacity

As compute resources become increasingly scarce, Jane Street plans to build its own data center to meet operational expansion needs. The company is in preliminary talks with several firms in the tech, crypto, and finance sectors, with the specific capacity and location of the new facility yet to be determined.

Jane Street currently accesses compute power through its Dallas data center and cloud providers like CoreWeave. It is seeking to increase its compute capacity tenfold, expanding from the current tens of thousands of GPUs 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 limited by available compute power and that the company is seeking additional capacity to support longer-duration risk positions in trading.

Zcash Fixes Bug Allowing Unlimited ZEC Minting; Cannot Verify if Exploited Due to Privacy Pool Feature

Taylor Hornby discovered a critical counterfeiting vulnerability in Zcash's Orchard pool on May 29, 2026. Hornby reported the vulnerability to the Zcash Open Development Lab, and parties cooperated to complete the fix on 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 impossible to cryptographically prove whether the vulnerability was exploited before the fix.

The vulnerability had existed since Orchard's activation in May 2022 until an emergency fix was deployed on June 1, 2026. With the assistance of AI tools, Taylor Hornby wrote a complete exploit program and generated unlimited, undetectable counterfeit ZEC in a local test environment. Shielded Labs is currently 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 access to tokenized real-world asset yield opportunities.

Plume stated that ether.fi has exclusively allocated $100 million to this vault, sourced from its liquidity provider base and managed capital within 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 control and lower DeFi exposure.

Investment & Financing

Nova Markets Completes New Funding Round with Participation from Wintermute Ventures and Others

Nova Markets announced the completion of a new funding round, with participation from Wintermute Ventures, Robot Ventures, Big Brain VC, Cumberland, GSR, Greenfield Capital, Hash3, Bodhi Ventures, Kairos Research, and others. The project primarily focuses on on-chain capital and prediction market infrastructure. The funds will be used to migrate more perpetual contracts and prediction markets onto the blockchain.

Regulatory Developments

US House Committee Preparing Legislation to Create Crypto Tax Framework

The US House Ways and Means Committee is preparing legislation to structure cryptocurrency taxation, which could be released as early as Friday, followed by a hearing early next week. Committee Chairman Jason Smith has made drafting the digital asset tax framework a top priority, with the Treasury Department also involved in the process.

The committee is expected to release seven bills covering topics such as when tokens obtained from mining or staking are taxed, exempting certain stablecoin transactions from capital gains tax, aligning tax treatment of digital assets with securities (including charitable donations), a safe harbor allowing foreign investors to trade US securities without being taxed as a domestic business, and extending the wash sale rule to digital assets.

Notable Voices

CME CEO: Very Concerned About US-Regulated Crypto Perpetual Futures

Chicago Mercantile Exchange Group CEO Terry Duffy expressed deep concern about the recently approved US-regulated perpetual futures contracts. Duffy stated that perpetual contracts have little practical use for institutional investors but expose retail investors to excessive risk. He said he completely disagrees with the CFTC's decision to approve the first batch of crypto perpetual futures after a rapid review and has called the CFTC Chairman to voice his concerns.

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

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

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

During the hearing, Acting Comptroller of the Currency Jonathan Gould stated that regarding the decision on whether to grant World Liberty Financial a bank charter, the only political pressure his agency has felt has come from Democrats, and he rejected allegations of following the President's directives. Additionally, FDIC Chairman Travis Hill said the agency will soon propose a rule requiring stablecoin issuers to implement customer identification procedures.