🌐Key news of Sunday, June 2

🗣NOTcoin surges: 500% in a week and 90% in a day.

🗣Bitcoin miners' revenue fell 46.15% in May, hitting its lowest level since October 2023.

🗣FTX to get $800 Million from Sale of Stake in Anthropic.

🗣USDe capitalization reaches $3 billion just 4 months after launch.

🗣China and UAE team up to fight cryptocurrency cybercrime.

🗣Coinbase accuses the SEC of suppressing the crypto industry.

🗣Tether may return to Hong Kong amid local efforts to attract cryptocurrency investment.

🗣Nigeria tops the world in interest in Bitcoin (BTC) according to Google Trends.

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💙💎 TON is the most underrated crypto asset.

❤️ The TON is trading in the range of $6.2-$6.7, while Notcoin has grown by more than 350% over the past week.

👉 Hamster Combat and Catizen, two of Telegram's most promising projects with a total of 72 million players, will soon launch on the TON network.

👉 It is assumed that the accumulation zone for TON is between $6.2 and $6.7, and that the price will rise above $10 this summer.

#TON #TELEGRAM

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😱Since the launch of the Ethereum ETF, centralized exchanges have seen an outflow of more than 800,000 ETH (about $ 3 billion), indicating large purchases by investors.

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📈 According to tech analyst Peter Brandt, the bitcoin price could rise to $130,000-150,000 by Q4 2025 if it follows the trend of previous post-halving bull markets.

Chamath Palihapitiya, billionaire and founder of venture capital firm Social Capital, is more optimistic and predicts that bitcoin could reach $500,000 by the end of 2025.

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💬Singularity NET Announces Token Swap for AGIX, FET, and OCEAN Holders

💸 Over 200,000 ERC-20 token holders have the opportunity to swap their AGIX, FET, and OCEAN tokens for ASI.

👋As part of a merger with Fetch.ai and Ocean Protocol, blockchain project SingularityNET has announced dates for token swaps:

⏺FET holders: June 11
⏺AGIX and OCEAN holders: June 13

✖️Detailed "step-by-step guides" for the swapping process will be released soon, including information on the migration process for AGIX holders on Cardano.

🗣The merger, first reported in mid-March, values the combined entity at approximately $7.5 billion. The new alliance will be governed by a “Superintelligence Collective” led by SingularityNET founder Ben Goertzel, with Fetch.ai CEO Humayun Sheikh serving as chairman.

🔄Exciting times ahead for the crypto community!

#CryptoMerger #ASI #BlockchainInnovation

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OKX Rebrands and Expands in the Netherlands

📅 June 3: OKX to support over 150 cryptocurrencies and 60 crypto-euro trading pairs.

🔄 April 10: Rebranded from Okcoin Europe Ltd. to OKX.

🇳🇱 Netherlands Launch:

⏺Partnership with iDEAL: Easy deposits and withdrawals.
⏺SEPA Integration: Free euro deposits and withdrawals.
⏺OKX Wallet: New self-custodial web3 wallet for Dutch users.
⏺Regulatory Status: Registered with De Nederlandsche Bank (DNB) and licensed in Malta.

🇭🇰 May 24: Withdrew VASP license application in Hong Kong, halted operations on May 31.

🚀 Exciting developments as OKX expands in the crypto space!

#OKX #Crypto #CryptoNews

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👀💬Linea pledges decentralization after halting block production to stop hacker

⚠️The pause in block production, spanning a critical hour between block 5,081,800 and 5,081,801, allowed Linea to assess the situation. During the period, efforts were made to engage with the Velocore team and coordinate responses to the vulnerability, the thread reads.

💸The move, however, raised concerns among members of the crypto community, raising their eye brows due to the move that blocked the whole network with over $1.2 billion in value, according to data from L2Beat.

👑In parallel, both Linea and Velocore teams have initiated measures to address the exploit, including on-chain negotiations and coordination with centralized exchanges to freeze exploited funds. The Velocore team has released a post-mortem on the exploit, outlining affected pools and ongoing efforts to compensate affected users.

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🤑 The TON network has seen a significant increase in transactions over $100,000 in the last 24 hours.

According to IntoTheBlock, their number increased by 273.5%.

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That one pizza lover)) 🐶🍕

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🔶Former Binance CEO CZ Reports to Federal Prison

🗣Former Binance CEO Changpeng Zhao has begun his four-month prison sentence at Lompoc II, a low-security federal prison in California, according to Bloomberg.

🟡Lompoc II Overview:

👮‍♂️Work Details: Inmates often work on farms producing beef, field crops, and milk. Jobs include dairy farming, horse riding, corn picking, and planting.
Past Reputation: Once known as a "country club" prison with T-shirts instead of khaki uniforms and unarmed guards, Lompoc was converted to a higher security facility in the 90s.

Zhao was sentenced to four months in prison in April for money laundering violations after stepping down as Binance's CEO last year.
Meanwhile, former FTX CEO Sam Bankman-Fried was recently moved to a medium-security federal correctional institution in Mendota, California, to serve his 25-year sentence.

#Binance #ChangpengZhao #FederalPrison

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🟠Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF, Marquette Professor Says

Wisconsin's pension plan's recent addition of two spot bitcoin exchange-traded funds (ETFs) is likely just the beginning of its investments in crypto, according to David Krause, a finance professor at Marquette University.

📈In the first quarter, the State of Wisconsin Investment Board (SWIB) purchased shares in BlackRock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust, valued at $164 million as of March 31. This move surprised the industry, as large institutions, especially pensions, typically avoid young ETFs like the spot bitcoin ETFs. Krause noted SWIB's history of innovative investments during an interview with PBS Wisconsin.

Wisconsin’s investment board has always been innovative

Krause said. He explained that, as a fully funded pension fund, SWIB can afford to invest long-term without the liquidity concerns faced by less-funded pensions like Illinois's, which is only 50% funded.

They’re testing public reaction and using this as a trial run

Krause said, suggesting the investment wouldn't significantly impact the portfolio until reaching 1% or 2%.

Nearly 500 institutional investors revealed spot bitcoin ETF allocations in the first quarter. The largest owner was hedge fund Millennium Management, with $2 billion in holdings, approximately 3% of its total assets under management.

#WisconsinPension #BitcoinETF #CryptoInvestment

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‼️Bitcoin's Bright Future: Viable Currency and Inflation Hedge

🟠Bitcoin is on track to become a stable, long-term asset, potentially serving as a hedge against inflation similar to gold. Its fixed supply offers an attractive alternative amid inflationary pressures on traditional fiat systems.

😮Deflationary Nature and Store of Value
Bitcoin will shift from a semi-inflationary to a purely deflationary currency, enhancing its appeal as a store of value. Unlike traditional currencies, which lose value through inflation, bitcoin’s fixed supply makes it attractive to those looking to preserve or grow their wealth.

💸Sustainability and Efficiency
Miners will optimize energy consumption, seek regions with lower electricity costs, and use renewable energy sources. Advances in mining hardware, like ASICs, will enhance efficiency by maximizing processing power and minimizing energy consumption.

Bitcoin’s potential to become a stable asset and inflation hedge is bolstered by its fixed supply, efficient mining practices, and technological advancements. As it evolves, bitcoin could play a significant role in the global financial ecosystem, offering both a store of value and a viable transaction medium.

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🚀 Crypto Fund Inflows Hit $2B in May

‼️Key Highlights:

💵 Weekly Inflows: The final week of May saw $185 million in inflows.
📅 Year-to-Date: Total capital inflows for the year now exceed $15 billion.

💥Geographical Insights:
🇺🇸 United States: Dominated the inflows with $130 million in the last week of May, despite $260 million in outflows from incumbent issuers.

Asset-Specific Performance:
🟠 Bitcoin (BTC): Led the inflows with $148 million for the week. Short Bitcoin funds experienced $3.5 million in outflows, totaling $12.5 million for the month, indicating bullish sentiment.
⚪️ Ether (ETH): Recorded $33.5 million in weekly inflows and $21.6 million month-to-date. This turnaround in sentiment follows the approval of Ether ETFs in the U.S., reversing previous outflows of $200 million.
🧬Solana (SOL): Positive inflows continued with $5.8 million for the week and $24.8 million for the month.

🕯Multi-Asset Funds:

📉 Underperformed with $2.7 million in weekly outflows and $12.2 million in monthly outflows.
Impact of Ether ETF Approval:

May's inflows highlight a growing interest and confidence in digital assets, particularly Bitcoin and Ether, amid new regulatory approvals and market dynamics.

#Investments #CoinShares

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