ChainCatcher message, the fourth on-chain points challenge of Bitget is about to start. Users can earn points by completing an on-chain purchase of ≥20 USDT daily, with a chance to share a 50,000 BGB airdrop reward.Detailed rules have been published on the Bitget official platform. Users must click the "Join Now" button to complete registration in order to participate in the event. The event runs from June 5, 00:00:00 to June 11, 23:59:59 (UTC+8).

ChainCatcher news, according to Yahoo Finance, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that in response to the latest developments in the virtual asset market, the Treasury will publish a second policy declaration on the development of virtual assets, outlining the vision and direction for the next steps. This policy declaration will explore how to combine the advantages of traditional financial services with technological innovations in the virtual asset sector, and enhance the security and flexibility of real economic activities. It will also encourage local and international enterprises to explore innovations and applications of virtual asset technology.Christopher Hui pointed out that the Securities and Futures Commission is considering introducing virtual asset derivatives trading for professional investors, emphasizing that robust risk management measures will be formulated. This is expected to further enrich the product options in the Hong Kong market while ensuring that trading is conducted in an orderly, transparent, and secure manner. In assisting fintech companies to expand their business, the Invest Hong Kong is actively collaborating with industry stakeholders to promote in the Guangdong-Hong Kong-Macao Greater Bay Area, helping Hong Kong fintech companies further expand into the mainland market.

ChainCatcher message, trader James Wynn posted that the trend reversal of BTC has been confirmed, (this is) the last chance before hitting a new high.

ChainCatcher message, Ethereum co-founder Vitalik Buterin responded to Paradigm CTO Georgios Konstantopoulos's point on the X platform that "cross-chain interoperability has been solved at the infrastructure level," stating that it is only considered "truly solved" when cross-L2 operations can match the censorship resistance, trustlessness, and non-intermediary nature of native ETH transfers on L1.Vitalik referred to this as the "no-regression principle," emphasizing that new systems must retain the core attributes of the original system; otherwise, they cannot be regarded as sufficiently complete.

ChainCatcher news, Musk once again criticized the excessively high government spending in the U.S. on X, stating, "Interest payments have consumed 25% of all government revenue. If large-scale deficit spending continues, then fiscal revenue will only be enough to pay the interest, and nothing else! No social security, no healthcare, no defense, nothing at all."Just last Friday (May 30), after leaving the "Department of Government Efficiency" (DOGE) under the Trump administration, Musk and Trump, once "allies," seem to be rapidly heading towards open confrontation. First, Trump withdrew the nomination of Musk's close ally Jared Isaacman for NASA Administrator, and then Musk directly attacked Trump's promoted "One Big Beautiful Bill Act" on the X platform, calling it "disgusting." This morning, Musk stated: "Currently, this massive, absurd, politically motivated congressional spending bill is extremely disgusting. Those who voted in support are shameful: you know you did wrong. This will significantly increase the already huge budget deficit to $2.5 trillion and burden American citizens with an unbearable debt. Congress is bankrupting America."

ChainCatcher message, whale James Wynn tweeted that he is trying to exchange inflationary fiat currency for deflationary real money (BTC) with 40x leverage, but you all say I'm gambling. Time is of the essence, speed is crucial. The dollar is collapsing in real-time. I am doing everything I can to acquire as much BTC as possible so that I don't sink with the ship.

ChainCatcher news, whale James Wynn posted on social media, "When you pay attention to the global M2 money supply, you will find that everything else is just noise." Accompanied by a picture showing the global M2 money supply is on an upward trend.

ChainCatcher news, South Korea's left-wing party candidate Lee Jae-myung has been elected as the new president of South Korea with a vote rate of 49.42%, defeating his right-wing opponent Kim Moon-soo who received 41.15%. Lee Jae-myung has promised to vigorously develop South Korea's cryptocurrency industry, with key policies including: allowing local adoption of spot cryptocurrency ETFs, establishing a Korean won stablecoin market, improving the regulatory framework for digital assets, and reducing blockchain regulation in specific areas to promote innovation.South Korea is one of the largest cryptocurrency markets in the world, with 9.7 million trading users, accounting for about 20% of the total population. Unlike the previous president Yoon Suk-yeol's unfulfilled promises of being crypto-friendly, Lee Jae-myung is expected to push for the implementation of his cryptocurrency policies against the backdrop of a shift in attitude from the Financial Services Commission.

ChainCatcher news reports that, according to 4E monitoring, at the beginning of June, the Bitcoin price briefly dipped to $103,700, reaching a recent low, which has attracted market attention. Analyst Captain Faibik pointed out that the current BTC market is fiercely contested, with key support and resistance levels at $103,500 and $107,500, respectively. A breakthrough or breakdown will determine the next phase of the trend. If it can stabilize above $107,500, it is expected to challenge a new high of $117,000; however, if it falls below $103,500, it may return to bear control. Another analyst noted that BTC needs to quickly return above $106,500 to avoid further declines. As of now, the Bitcoin price is approximately $105,435, showing an upward trend in the past 24 hours.Meanwhile, despite facing tariff uncertainties and soaring federal deficits, the U.S. stock market has rebounded strongly. The S&P 500 index rose 6.3% in May, marking the best performance for the same period since 1990, and has increased 1.74% year-to-date, rebounding nearly 20% from April's low. Tech stocks are leading the charge, but funds are also quietly flowing into defensive sectors such as consumer staples, utilities, and healthcare, indicating that the market remains cautious even amid optimism.On the economic fundamentals front, investors are closely watching the May employment report set to be released this Friday. Several economists predict that non-farm payrolls will increase by only 125,000, or below the "break-even growth rate" of 153,000. Continued weakness could trigger a rise in the unemployment rate and intensify bets on the Federal Reserve cutting interest rates within the year.According to 4E, investors should remain vigilant and respond cautiously to short-term market fluctuations until trade policies, employment data, and Federal Reserve dynamics become clearer.

ChainCatcher news, according to The Block, the decentralized leveraged trading platform Avantis based on Base has completed a $8 million Series A funding round, led jointly by Peter Thiel's Founders Fund and Pantera Capital, with participation from Symbolic Capital, SALT Fund, and Flowdesk.It is reported that this funding round was completed in mid-2024, but Avantis chose to announce it now to align with the development of the protocol. The structure of Avantis's Series A funding consists of equity financing and token warrants, with a total funding amount reaching $12 million, which includes the $4 million seed round financing completed in September 2023.

ChainCatcher news, according to Cointelegraph, current mainstream DeFi protocols are gradually deviating from the original intention of peer-to-peer (P2P) trading, shifting towards reliance on liquidity pools, external oracles, and automated market maker (AMM) models. This shift, while enhancing capital efficiency, has led to users losing the ability to choose collateral and control risks independently. Moreover, the manipulation of centralized oracles has exacerbated systemic vulnerabilities—recently, the Hyperliquid exchange triggered a trust crisis due to human intervention in oracle pricing, causing its total value locked (TVL) to plummet from $540 million to $150 million.Industry analysts point out that the design of liquidity pools is causing DeFi to gradually converge with traditional financial systems, violating the core principles of "open transparency and permissionless interaction." The early P2P lending model allowed both parties to negotiate collateral types and interest rates through smart contracts, which better aligns with the spirit of decentralization.Despite recent impressive data (Aave's TVL surpassing $40 billion, Uniswap's cumulative trading volume reaching $3 trillion), the market urgently needs to rebuild a true P2P system: users should have the right to choose assets, set trading terms independently, and break free from reliance on centralized oracles. Only by returning to a transparent, flexible, and user-driven essence can DeFi achieve large-scale adoption.

ChainCatcher news, according to Jinshi Data, Federal Reserve's Bostic stated that he still believes there may be one rate cut this year, depending on economic conditions. It is difficult to assert whether the Federal Reserve will cut rates if there is a lack of trade uncertainty.

ChainCatcher news, Nasdaq-listed DeFi Development Corp (stock code: DFDV) disclosed that it held 621,313 SOL by the end of May, an increase of +96% compared to 317,273 SOL in April, with the value of the SOL holdings reaching $97.2 million.DeFi Development will continue to implement its Solana treasury strategy in June, promoting the growth of SOL (SPS) and continuously establishing industry benchmarks in the open market.

ChainCatcher news, according to CoinDesk, XRPScan data shows that activity on the XRP Ledger has significantly slowed down, with payment transaction volume dropping to 320,747, the lowest since October last year, far below the average of over one million transactions from March to early May. The number of active addresses has also fallen below 10,000, marking the lowest since October. Meanwhile, the amount of XRP destroyed as transaction fees has decreased to 1,500, the lowest in months, coinciding with the slowdown in new account creation.Messari's report is optimistic about the XRP Ledger's prospects, stating that institutional adoption is increasing through strategic partnerships and acquisitions. XRP has not benefited from Bitcoin's new highs as it did at the beginning of the year, which may suggest weakening demand, warranting caution, as a potential decline in Bitcoin could put pressure on XRP's price.

ChainCatcher news, former Vice President of the Bank of China Wang Yongli published an article titled "The Accelerated Development of Dollar Stablecoins Brings Profound Warnings," in which he pointed out that the United States is legislating to protect and support the mining and trading of crypto assets, even making it a national strategic reserve. It supports the legal operation of dollar stablecoins and actively seizes the high ground in the fields of crypto assets and stablecoins, enhancing the demand for U.S. Treasury bonds and the international influence of the dollar, which has significant and far-reaching strategic implications. China needs to fully recognize and actively respond to this.Fortunately, Hong Kong is actively promoting the development of Web 3.0 along with crypto assets and Hong Kong dollar stablecoins. Companies from the mainland are also actively participating. The regulatory framework for stablecoins in Hong Kong is leading the world and can provide valuable references for the mainland. It requires high attention and in-depth research from the financial sector, academia, as well as judicial and regulatory departments in the mainland. Consideration could be given to launching an offshore RMB stablecoin in Hong Kong, initially used for overseas crypto asset trading payment and settlement, exploring the development of RMB stablecoins and even digital RMB.

ChainCatcher news, according to Onchain Lens monitoring, a certain whale deposited 3,998,000 USDC into HyperLiquid and opened a long position on SOL with 2x leverage. This whale also holds a 2x long position in XRP.

ChainCatcher news, according to official information, OKX will officially launch leveraged trading for SOPH and HUMA, as well as Simple Earn, on the web, App, and API on June 4, 2025, from 12:00 to 12:10 (UTC+8).The specific opening times are as follows:SOPH/USDT leveraged trading opening time: June 4 at 12:00 (UTC+8)HUMA/USDT leveraged trading opening time: June 4 at 12:10 (UTC+8)