1. WLFI Partners with TRUMP Meme Coin and Plans to Include TRUMP in Long-Term Reserve Asset Portfolio Eric Trump announced that World Liberty Financial has partnered with TRUMP Meme Coin and plans to include TRUMP in its long-term reserve asset portfolio.2. Pumpfun Plans to Distribute Protocol Revenue to PUMP Token Holders Pumpfun intends to allocate part of the protocol revenue to PUMP token holders in a $1 billion token issuance. The total token supply is 1 trillion, with a private sale price of $0.004. Public sale and airdrop are about to launch.3. South Korea and the U.S. Agree to Reach Tariff Agreement Soon South Korean President Yoon Suk-yeol and U.S. President Donald Trump agreed to advance substantive progress on tariff issues.4. South Korean Actress Jun Ji-hyun’s Husband Faces Massive Losses from Investment in Chain Game Company Wemade Alpha Asset Management suffered a loss of 15.80 billion KRW due to investment in Wemade stocks, impacted by the secondary delisting of the WEMIX token.5. Suzhou Police in Anhui Bust Over 80 Million Yuan Bank Card Trading Case; Virtual Currency Becomes Mainstream Means of Cross-Border Money Laundering Criminal gangs use virtual currency for "remote money laundering," enabling cross-border fund laundering without the physical transfer of bank cards.6. Wu Says Weekly Highlights: Market Turbulence, Circle Stock Price Soars, Beijing’s New Crypto Disposal Mechanism and Top 10 News Includes the crypto market crash triggered by the fallout between Trump and Elon Musk, Circle’s stock price rising 168% on its first day of listing, Beijing police cooperating with the Beijing Stock Exchange to handle involved virtual currencies, Singapore MAS requiring unlicensed crypto service providers to cease overseas services, South Korea’s new president promoting crypto ETFs and KRW stablecoins, the upcoming vote on the GENIUS stablecoin bill, Ethereum Foundation’s R&D department restructuring, HashKey responding to layoffs and funding support, Tether focusing on non-U.S. markets, and 116 listed companies holding bitcoin assets totaling $85 billion.Key Financing Events K Wave Media raised $500 million in equity financing; Rails completed $14 million token financing; Momentum valued at $100 million completed strategic financing; Avantis closed $8 million Series A financing; Limited completed $7 million seed round; Launcher Capital completed $4 million seed round; 3Jane completed $5.20 million seed round; HeyElsaAI raised $3 million; HashPower completed $4 million strategic financing.For more industry financing events, see <a href="http://crypto-fundraising.info/">crypto-fundraising.info</a>.

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<div>1. WLFI Partners with TRUMP Meme Coin and Plans to Include TRUMP in Long-Term Reserve Asset PortfolioEric Trump announced that World Liberty Financial has partnered with TRUMP Meme Coin. Although the originally planned meme wallet project has been suspended, the team remains focused on supporting TRUMP. Eric Trump also stated that World Liberty Financial plans to include TRUMP in its long-term reserve asset portfolio.2. Pumpfun Plans to Distribute Protocol Revenue to PUMP Token HoldersPumpfun is considering distributing part of its protocol revenue to future PUMP token holders as part of its planned $1 billion token issuance. The exact amount of revenue to be distributed has not yet been determined, nor is it clear whether the distribution will include revenue from its decentralized exchange platform PumpSwap. The total supply of PUMP tokens could be 1 trillion, with the current private sale price at $0.004 per token. The public sale is expected to launch within two weeks and will be accompanied by an airdrop. Approximately 25% of the token supply will be allocated for the public sale, and 10% for the airdrop.3. South Korea and the U.S. Agree to Quickly Reach a Tariff AgreementSouth Korean President Lee Jae-myung spoke with U.S. President Donald Trump today, where both parties agreed to reach a mutually acceptable agreement on tariff issues as soon as possible and to promote substantive progress in practical negotiations. The call lasted about 20 minutes. During the call, Trump congratulated Lee Jae-myung on his election victory, while Lee emphasized that the South Korea-U.S. alliance is fundamental to South Korea's foreign policy.4. Husband of Korean Star Jun Ji-hyun Faces Massive Losses Due to Investment in Listed Game Company WemadeChoi Joon-hyuk, husband of Korean star Jun Ji-hyun and head of Alpha Asset Management, suffered significant losses due to investments in game company Wemade. Alpha invested a total of 35 billion KRW in Wemade stocks in 2023 and 2024. Due to a roughly 28% drop in stock price, the accumulated book loss has reached 15.80 billion KRW. This decline is related to the second delisting of the Wemix cryptocurrency by South Korean exchanges, which had previously lost about 9 billion KRW in assets due to a hacker attack. Wemix is a virtual currency issued by Wemade through its subsidiary.5. Suzhou Police in Anhui Crack Down on Bank Card Trading Case Involving Over 80 Million RMB; Virtual Currency Becomes Mainstream Means of Cross-Border Money LaunderingThe police in Suzhou, Anhui recently cracked a bank card trading case involving "remote money laundering" using virtual currencies, with an amount exceeding 80 million RMB. The criminal gang recruited card merchants through social software and organized "card merchant convoys" to collect cards domestically and complete cash withdrawals and virtual currency purchases, enabling cross-border money laundering without the bank cards physically leaving the country. Police pointed out that because the criminal group conducts transactions through virtual currencies and the domestic card merchants have never met their upstream handlers, law enforcement faces significant challenges in verifying the identities of the upstream cross-border bank card trading gang.6. Wu Shuo Weekly Picks: Musk-Trump Rift Sparks Market Turmoil, Circle’s Stock Price Surges After Listing, Beijing’s New Approaches to Cryptocurrency Regulation, and Top 10 News<blockquote>This Week’s Top 10 News</blockquote><blockquote>1. Musk-Trump Rift Sparks Market Volatility <a href="https://truthsocial.com/@realDonaldTrump/114632206992330264">link</a></blockquote>U.S. President Donald Trump and Silicon Valley entrepreneur Elon Musk engaged in a fierce "war of words" on the 5th, described by media as a "lightning-fast" and "epic" split.Musk had previously spent at least $288 million supporting Trump and other Republicans, and in the dispute accused Trump of being "ungrateful," releasing a poll asking whether it was necessary to establish a third party for the 80% of Americans who are "centrists." Donald Trump posted on social media that the simplest way to cut the budget is to terminate government subsidies and contracts received by Elon Musk and expressed surprise that the Biden administration had not taken related actions.According to Coinglass data, influenced by the public fallout between Musk and Trump, the crypto market sharply declined with BTC dropping over 3% and ETH over 7% within 24 hours; 227.30 thousand users were liquidated across the network, with liquidations totaling $983 million, including $892 million in long liquidations.<blockquote>2. Beijing Police and Beijing Equity Exchange Establish Mechanism for Handling Cryptocurrency-Related Cases, Selling via Compliant Hong Kong Exchange and Remitting Proceeds to State Treasury <a href="https://mp.weixin.qq.com/s/rwtDuZpQhjFh971sBeJ-Dg">link</a></blockquote>The Legal Affairs Team of Beijing Public Security Bureau and the Beijing Equity Exchange (BEX) signed a "Cooperation Framework Agreement on the Handling of Cryptocurrency-Related Cases," pioneering a new model for disposing of cryptocurrencies involved in cases.Public security authorities entrusted the involved virtual currencies to the Beijing Stock Exchange for liquidation and sale through a compliant licensed exchange in Hong Kong. After completing foreign exchange approval, the proceeds were settled and paid into the national treasury, successfully resolving a case handled by the Shunyi Branch. In addition, the Legal Affairs Unit enhanced officers' capabilities in combating virtual currency crimes through specialized training.<\/p><blockquote>3.<\/strong> Singapore MAS: Unlicensed Cryptocurrency Service Providers Must Cease Providing Services to Overseas Clients by End of June <\/strong><a href="https://www.mas.gov.sg/-/media/response-to-feedback-received-from-dtsp-cp.pdf">link<\/a><\/p><\/blockquote>The Monetary Authority of Singapore (MAS) released its final policy document on May 30, 2025, clearly stipulating that all cryptocurrency service providers (DTSPs) registered or operating in Singapore must cease providing cryptocurrency services to overseas clients by June 30, 2025, if they have not obtained a DTSP license. MAS emphasized that no transition period will be granted, and violators will face penalties according to the law.<\/p>Wu Jiezhuang tweeted that Singapore previously issued the "Guidelines on Licensing for Digital Token Service Providers," introducing new policies for companies, institutions, and personnel engaged in virtual assets. Since Hong Kong issued its virtual asset declaration in 2022, it has welcomed industry players to develop locally. Informal statistics indicate that over a thousand Web3 companies have established themselves in Hong Kong. Enterprises involved in related industries in Singapore are encouraged to relocate their headquarters and teams to Hong Kong, where policy and operational support will be provided.<\/p><blockquote>4.<\/strong> South Korea's New President Lee Jae-myung Promises to Promote Crypto ETFs and KRW Stablecoins <\/strong><a href="https://www.theblock.co/post/356855/south-korea-elects-pro-crypto-lee-as-new-president-crypto-etfs-and-krw-stablecoins-on-horizon">link<\/a><\/p><\/blockquote>South Korea elected the pro-crypto Lee Jae-myung as its new president, who received 49.42% of the vote, with a record-high voter turnout of 79.4% in 28 years. Lee pledged to promote the adoption of local spot crypto ETFs and to establish a Korean Won-pegged stablecoin market to prevent domestic capital outflow. He will also complete the second phase of the digital asset regulatory framework, focusing on stablecoin regulation and exchange transparency, while reducing regulation in blockchain special zones to encourage innovation.<\/p><blockquote>5.<\/strong> Eleanor Terrett: GENIUS Stablecoin Bill Expected to Face Senate Vote in the U.S. This Week <\/strong><a href="https://x.com/EleanorTerrett/status/1929505709235793934">link<\/a><\/p><\/blockquote>According to crypto journalist Eleanor Terrett, the GENIUS Stablecoin Bill is expected to be voted on in the U.S. Senate as early as this week. Bipartisan efforts are underway to reach consensus on multiple amendments, including prohibiting foreign adversaries such as China from holding shares in stablecoin issuers, strengthening officials' disclosure obligations of coin holdings, and reforming anti-money laundering regulations. If the consensus plan is reached, the bill could pass this week; otherwise, it may be delayed until next week. Meanwhile, recent polls show that 74% of American voters support the introduction of dedicated crypto regulations.<\/p><blockquote>6.<\/strong> CIRCLE Closing Price Surges 168%, Market Capitalization Reaches $18.50 Billion <\/strong><a href="https://cn.tradingview.com/symbols/NYSE-CRCL/?utm_source=iosapp&utm_medium=share">link<\/a><\/p><\/blockquote>CIRCLE opened at $69 on its first day of listing on the New York Stock Exchange, a significant increase from its IPO price of $31.<\/p>According to Yahoo Finance, Circle, the issuer of the USDC stablecoin, closed at $83.23 on its first day on the NYSE, up 168.48% from the $31 issuance price; trading volume exceeded 47.10 million shares, with a total market capitalization reaching $18.50 billion.<\/p>BitMEX co-founder Arthur Hayes tweeted regarding Circle's listing, stating that the spirit of the 2017 ICO has transformed into the crypto IPO frenzy from 2025 to 2027. This is a wild start that will likely end with a super IPO similar to EOS—massively absorbing fiat currency and then plunging immediately after listing.<\/p><blockquote>7.<\/strong> Ethereum Foundation Restructures R&D Department to Focus on Base Layer Scaling and User Experience <\/strong><a href="https://www.<a href="coindesk.com/tech/2025/06/02/ethereum-foundation-lays-off-some-staff-amid-rd-restructuring">link</a></blockquote>The Ethereum Foundation announced layoffs of some members of its research and development team and reorganized its "Protocol Research and Development" department, renaming it "Protocol." The focus will be on three core areas: scaling Ethereum's base layer, expanding the blobspace (a critical data availability module), and optimizing user experience. This move aims to respond to long-standing community criticism regarding the foundation's mismanagement and failure to address key protocol design issues. Regarding the Ethereum Foundation's proposed layoff plan and subsequent development direction, Multicoin Capital co-founder Kyle Samani commented, "Please note, the definition of 'focus' usually means 'less,' not 'more,' especially when goals should not conflict with each other. But when we look from the perspective of Goal 3 (i.e., scaling L1 and L2 networks and improving user experience), Goals 1 (layoffs) and 2 (clear division of responsibilities) are contradictory."In addition, the Ethereum Foundation announced its financial management policy, clarifying that its asset management strategy focuses on maintaining a 2.5-year operational expenditure buffer and annual spending not exceeding 15% of the total treasury. It plans to gradually reduce this to a long-term target of 5% over the next five years. To maintain this expenditure structure, the foundation will regularly assess the scale of ETH sales and adjust through off-chain fiat exchanges or on-chain asset swaps. The foundation has established a structured internal reporting mechanism, where the finance team submits quarterly reports to the board and management covering asset performance, position changes, and key operational matters; annual reports further disclose major asset allocation proportions including fiat currency, idle ETH, and deployed ETH to ensure transparency and accountability in financial management.<blockquote>8. HashKey Responds to Layoffs, Cash Flow Tightness, HSK Controversy, etc. <a href="https://www.panewslab.com/zh/articles/e82cyzwn">link</a></blockquote>In response to recent layoff rumors, HashKey stated that the recent personnel adjustments are between 10% and 20%. The group's global staff size has grown from over 500 at the end of last year to more than 600 now, rapidly expanding high-growth business lines such as HashKeyOTC Global and HashKeyChain. Regarding cash flow tightness, HashKey responded that major shareholders have provided several hundred million dollars in robust funding support and have committed to continued financial backing. Concerning the decline in HSK price, HashKey stated it will not manipulate HSK prices but aims to enhance HSK's long-term value by continuously promoting ecosystem development and innovation.<blockquote>9. Tether CEO: Focus on Developing Non-US Markets, May Enter US via Issuing New Stablecoins <a href="https://www.bloomberg.com/news/newsletters/2025-06-03/tether-s-focus-on-non-us-markets-highlights-stablecoin-hotspots">link</a></blockquote>Tether CEO Paolo Ardoino stated that the company will focus on developing non-US markets, prioritizing emerging markets in Latin America, Asia, and Africa due to their urgent need for stable financial infrastructure, despite the current more crypto-friendly Trump administration. Ardoino noted that with the US Senate advancing stablecoin legislation (the Genius Act), Tether may enter the US by issuing new stablecoins. Additionally, the Artemis report shows that the Singapore-China corridor is the most active stablecoin liquidity region, accounting for 36.3%, while the US accounts for only 18.7%.<blockquote>10. Study: Bitcoin Treasury Holdings of 116 Public Companies Increase to 809,100 BTC, Valued at Approximately 85 Billion USD <a href="https://www.coindesk.com/markets/2025/06/05/corporate-bitcoin-holdings-nears-85b-more-than-doubling-in-a-year">link</a></blockquote>As of the end of May, the bitcoin treasury holdings of 116 public companies increased to 809,100 BTC, valued at approximately 85 billion USD, more than doubling from last year's 312,200 BTC, with nearly 100,000 BTC added since April. Binance Research pointed out that Trump's election victory and support for crypto policies have driven this trend, and new accounting standards also allow companies to recognize gains from BTC holdings. Additionally, tokenized Real World Assets (RWA) have also grown rapidly, increasing by over 260% this year to reach 23 billion USD.<blockquote>Key Financing Events</blockquote><ul><li>K Wave Media establishes a 500 million USD equity financing to advance Bitcoin treasury and infrastructure layout <a href="https://www.globenewswire.com/news-release/2025/06/04/3093530/0/en/K-Wave-Media-Inc-Nasdaq-KWM-K-Wave-or-the-Company-Announces-entering-into-a-securities-purchase-agreement-for-500-Million-Equity-Purchase-Facility-to-Support-Bitcoin-Treasury-Strat.html">link</a></li><li>Crypto trading platform Rails completes 14 million USD token financing <a href="https://www.coindesk.com/business/2025/06/04/rails-raises-14m-from-backers-including-kraken-to-launch-crypto-exchange">link</a></li><li>Momentum completes a new round of strategic financing with a valuation of 100 million USD <a href="https://chainwire.org/2025/06/05/momentum-raises-strategic-round-led-by-okx-ventures-coinbase-ventures-protagonist-and-dna-fund/">link</a></li><li>Avantis announces completion of an 8 million USD Series A financing <a href="https://www.theblock.co/post/356775/peter-thiel-founders-fund-base-avantis-crypto-funding?utm_source=rss&amp;utm_medium=rss">link</a></li><li>Stablecoin banking platform Limited announces completion of a 7 million USD seed round financing <a href="https://x.com/limitedgrouphq/status/1929587165111242922">link</a></li><li>Launcher Capital announces completion of a 4 million USD seed round financing <a href="https://x.com/launchercapital/status/1929938194159808737">link</a></li><li>Crypto lending startup 3Jane completes a 5.20 million USD seed round financing, led by Paradigm <a href="https://www.theblock.co/post/356872/paradigm-leads-5-million-seed-round-in-crypto-credit-startup-3jane?utm_source=twitter&amp;utm_medium=social">link</a></li><li>HeyElsaAI announces completion of a 3 million USD financing, led by M31Capital <a href="https://x.com/HeyElsaAI/status/1930599029571756276">link</a></li><li>On-chain staking and yield protocol HashPower completes a 4 million USD strategic financing <a href="https://chainwire.org/2025/06/04/hashpower-secures-4m-investment-to-advance-decentralized-mining-and-ai-infrastructure/">link</a></li></ul>For more industry financing events, please visit <a href="http://crypto-fundraising.info/">crypto-fundraising.info</a>.&nbsp;</div>

Wu Says Daily Selected Crypto News and Weekly Top 10 Hotspot Summary