Daily Report | Circle prices IPO at $31 per share; Ethereum Foundation plans to reduce operating expenses to 5% of long-term baseline within five years
June 5th News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- Binance Alpha points greater than or equal to 210 can participate in the CUDIS TGE event
- Binance will add observation labels for BIFI, FIS, KMD, and MDT
- Bithumb launches Lagrange (LA) KRW trading pair
- Binance completes Doodles (DOOD) airdrop distribution for BROCCOLI714, TST, 1MBABYDOGE, and KOMA holders
- El Salvador President Bukele discusses Bitcoin cooperation with White House representatives
- Ethereum Foundation announces financial policy, plans to reduce operating expenses to 5% long-term benchmark within five years
- Circle prices IPO at $31 per share, raising $1.1 billion with a valuation of $6.2 billion
- Beijing police establish a mechanism for handling virtual currencies involved in cases, selling through compliant exchanges in Hong Kong and remitting to the national treasury
"What important events happened in the past 24 hours"
Binance Alpha points greater than or equal to 210 can participate in the CUDIS TGE event
Binance tweeted that the participation threshold for the CUDIS TGE has been announced, and users must reach 210 Alpha points to participate. Participating in this TGE event will consume 15 points.
Binance will add observation labels for BIFI, FIS, KMD, and MDT
According to the official announcement, Binance will add observation labels for BIFI, FIS, KMD, and MDT.
Bithumb launches Lagrange (LA) KRW trading pair
According to an announcement from the South Korean exchange Bithumb on June 5, the platform will launch the Lagrange (LA) KRW trading pair at 17:00 (16:00 Beijing time) on the same day, supporting Ethereum network deposits. The deposit and withdrawal functions will be gradually opened within three hours after the announcement.
According to the official announcement, Binance has completed the Doodles (DOOD) airdrop distribution for users holding Mubarak (MUBARAK), CZ'S Dog (BROCCOLI714), Test (TST), Baby Doge Coin (1MBABYDOGE), and Koma Inu (KOMA) tokens on the platform and in wallets.
El Salvador President Bukele discusses Bitcoin cooperation with White House representatives
The National Bitcoin Office of El Salvador (ONBTC) announced today that President Bukele held talks with White House representative Bo Hines, discussing cooperation between the United States and El Salvador in the fields of Bitcoin and digital assets. It is reported that Bo Hines's deputy Patrick J. Witt also participated in the meeting.
The Ethereum Foundation published its financial policy on its official blog. The mission of the Ethereum Foundation (EF) is to strengthen the Ethereum ecosystem and adhere to its long-standing uncompromising core goal: to ensure that "applications run exactly as expected, with no possibility of downtime, censorship, fraud, or third-party interference."
The role of the EF treasury is to support the foundation's long-term autonomy, sustainability, and legitimacy. The Ethereum Foundation (EF) is expected to continue as a long-term steward of the ecosystem, but its scope of responsibilities will gradually narrow. We plan to reduce annual operating expenses linearly over the next five years, ultimately reaching a long-term benchmark level of 5%.
Funds will be frequently reallocated between different protocols due to market changes, asset diversification needs, or new revenue opportunities. Throughout the year, the EF will regularly assess the deviation of fiat-denominated assets in the treasury relative to the operating expense buffer target and decide whether to sell Ethereum and the amount to sell in the next three months based on this assessment. These Ethereum sales are typically conducted through fiat withdrawal channels or on-chain exchanges for fiat-denominated assets. Our current strategy includes independent staking and providing wETH to mature lending protocols. Core deployments will continue to be evaluated, but the overall positioning is for long-term holding. The EF may also borrow stablecoins and seek higher yields on-chain.
Circle prices IPO at $31 per share, raising $1.1 billion with a valuation of $6.2 billion
According to CoinDesk, stablecoin issuer Circle completed its IPO on the New York Stock Exchange at $31 per share, exceeding the original expected pricing range ($24-26), raising $1.1 billion, with a valuation of $6.2 billion. The stock code is "CRCL" and will begin trading on Thursday.
The IPO originally planned to issue 24 million shares but was expanded to over 34 million shares due to surging demand. Circle issues USDC, the second-largest stablecoin in the U.S., and its listing comes as U.S. lawmakers push for stablecoin regulatory legislation.
According to the Capital Police Law and Regulation WeChat account, the Beijing Municipal Public Security Bureau's Legal Affairs Division has established a cooperation mechanism for handling virtual currencies involved in cases with the Beijing Property Exchange (referred to as "Beijing Exchange"), jointly signing the "Cooperation Framework Agreement on the Disposal of Involved Virtual Currencies," incorporating involved virtual currencies into the "physical remittance" category.
The article states that in response to the high incidence of virtual currency crimes in recent years and the practical issue of "involved virtual currencies being unable to be directly disposed of and liquidated domestically" as well as cross-border disposal risks, the Legal Affairs Division of the Municipal Bureau and the Beijing Exchange have further expanded their cooperation disposal areas, conducting thorough research and demonstration on the policies, regulations, and operational paths for such special involved assets, exploring a new channel for overseas disposal.
That is: Public security organs will entrust the physical involved virtual currencies to the Beijing Exchange for disposal. After accepting the entrustment from the public security organs, the Beijing Exchange will select professional service agencies to conduct operations such as testing, receiving, and transferring the involved virtual currencies, and will publicly liquidate and sell them through compliant licensed exchanges in Hong Kong. After fulfilling the national foreign exchange management approval procedures, the proceeds will be transferred to the special account for involved funds of the public security organs and remitted to the national treasury.
Currently, this model has been successfully applied to dispose of involved virtual currencies in a case handled by the Shunyi Public Security Bureau.
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Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of June 5, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: ZEUS, ZEUS, MIND, KBBB, GASS
The top five popular Solana tokens in the past 24 hours are: KBBB, FWOG, SCF, LC, PIE
The top five popular Base tokens in the past 24 hours are: SKITTEN, Mog, VIRTUAL, SHIB, SLAP
