1. Hot Tokens on CEX

CEX Top 10 by 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-Stock 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 Hot Memes 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 up to $500,000 to $2,000.

Japan May Have Sold Overseas Securities to Fund Forex Intervention

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

Sources: SpaceX Locks IPO Price at $135

According to sources familiar with the matter, SpaceX (SPCX.O) has informed banks managing 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 Elon Musk is determined to lead the largest IPO in history on his own terms, breaking Wall Street tradition, although sources emphasize that the decision remains subject to change before official trading begins. SpaceX launched its IPO roadshow on Thursday. During the roadshow, the issuer and its underwriting banks typically collect investor feedback before meeting the day prior to the stock's official listing to finalize the IPO price. Three sources described the demand for SpaceX stock as "extremely hungry." SpaceX is expected to be officially listed for trading on June 12.

Anthropic: Calls for a Global Pause in Frontier AI Development

Anthropic has called on major AI labs to consider slowing down the pace of development, stating that AI systems are evolving rapidly and could soon achieve 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 the progress of AI models seems to be moving towards "recursive self-improvement," where AI systems can autonomously optimize themselves without human intervention. Anthropic stated that it would be beneficial globally if a decision could be made to slow down or temporarily halt frontier AI development, allowing social structures and related research to keep pace with technological advancements. Anthropic proposes a global agreement to determine how to slow down the pace of AI development and establish mechanisms to verify that competitors are adhering to the agreement.

Industry News

Grayscale HYPG ETF Launches, Total Daily Net Inflow for US HYPE Spot ETFs Reaches $12.1494 Million

On June 4th, Eastern Time, the Grayscale Hyperliquid Staking ETF (ticker: HYPG) officially began trading on Nasdaq. The total number of US HYPE spot ETFs now trading has reached three.

According to SoSoValue data, yesterday (June 4th, Eastern Time), the total daily net inflow for HYPE spot ETFs was $12.1494 million. Among them, HYPG saw a net inflow of $4.6973 million on its first full trading day after launch, bringing its total historical net inflow to $4.6973 million. The highest daily net inflow belonged to the Bitwise Hyperliquid ETF (BHYP), with a daily net inflow of $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 for HYPE of 1.24%. The cumulative historical net inflow has reached $152 million.

Nvidia Slashes Memory Configurations for Next-Gen Rack Systems, Causing Memory Stock Plunge? SemiAnalysis Founder Clarifies: Too Clickbait

Last night, market sources suggested that a recent SemiAnalysis report pointed out that "Nvidia's next-generation AI server cluster, Rubin NVL72, has made significant adjustments to memory configurations. To cope with supply chain tightness and ensure timely delivery of Rubin cabinets, the memory capacity per cabinet has been slashed from the original plan of 55TB to 28TB, a reduction of about 50%, employing a downgraded version of 96GB SOCAMM memory modules instead of the previously planned 192GB high-end modules." Possibly due to this news, memory-related stocks including Micron and SK Hynix faced downward pressure.

In response, Dylan Patel (@dylan522p), Founder, CEO, and Chief Analyst of SemiAnalysis, stated, "I love it when people share our commentary but miss most of the notes. Our original report did not use such a clickbait title to solicit subscriptions."

Project News

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

As compute resources become increasingly scarce, Jane Street plans to build its own data centers to meet operational expansion needs. The company is in preliminary talks with several firms in the technology, crypto, and finance industries. The specific capacity and location of the new facilities have not yet been determined.

Jane Street currently obtains 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 facilities 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 positions in trading.

Zcash Fixes Infinite Minting Bug; Due to Privacy Pool Feature, Impossible to Verify if Exploited

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

The vulnerability existed since the activation of Orchard in May 2022 until an emergency fix was deployed on June 1, 2026. With the assistance of an AI tool, Taylor Hornby wrote a full exploit and generated an unlimited amount of 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 Zcash's supply integrity.

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, providing ether.fi users with opportunities to earn yields from tokenized real-world assets.

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

Investments & Fundraising

Regulatory Developments

US House Committee Prepares Legislation to Establish Crypto Tax Framework

The U.S. House Ways and Means Committee is preparing legislation to construct a tax framework for digital assets, potentially releasing it as early as Friday, followed by a hearing early next week. Ways and Means Committee Chairman Jason Smith has made creating a digital asset tax framework a top priority, and the Treasury Department has been 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 the tax treatment of digital assets with securities (including charitable donations), creating a safe harbor allowing foreign investors to trade U.S. securities without being taxed as domestic corporations, and extending wash-sale rules to digital assets.

Voices

CME Group CEO: "Very Worried" About US-Regulated Crypto Perpetual Futures

Terry Duffy, CEO of CME Group, stated that he is deeply concerned about the recently approved crypto perpetual futures by U.S. regulators. Terry Duffy said that perpetual futures offer little practical use for institutional investors but expose retail investors to excessive risk. He completely disagrees with the CFTC's decision to approve the first crypto perpetual futures after a swift review and said he has called the CFTC Chairman to express his concerns.

Terry Duffy warned that perpetual futures and prediction markets are fueling a retail speculative frenzy that could be a disaster in the making. The first batch of perpetual futures approved by the CFTC was listed by Kalshi, and several other U.S. exchanges are also discussing launching their own perpetual futures products.

OCC Head: Only Political Pressure Felt Regarding World Liberty Bank Charter Application Came from Democrats

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

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