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American venture capitalist and billionaire Tim Draper posted on the X platform that he believes the banking system will be breached before quantum computing has the capability to break blockchain. Draper stated that Bitcoin is safer than the dollars in bank accounts. Even if there are issues with blockchain, full node operators can roll back to the last secure block, and the network can continue to operate, whereas dollars and banks do not have this option. He predicts that as retailers begin to accept Bitcoin, it will eventually completely replace the dollar.

Investment bank TD Cowen analyst Lance Vitanza reiterated a buy rating on Bitcoin treasury company Strategy (MSTR), with a target price of $400.

According to Nikkei News, Japan's three major banks plan to jointly issue a stablecoin pegged to fiat currency within the fiscal year 2026, and have established a consultation mechanism to promote the application and operational design in real transaction scenarios. Sumitomo Mitsui Banking Corporation, Mizuho Bank, and Mitsubishi UFJ Bank are expected to soon sign a basic agreement. Since November 2025, the three banks have been conducting joint empirical experiments under the guidance of the Financial Services Agency (FSA) in Japan to prepare for the joint issuance of the stablecoin. In the future, this consultation committee will continue to promote the practical application and commercialization design of the stablecoin in conjunction with relevant laws and regulations and market development trends.

According to Jinshi reports, Capital.com analyst Daniela Hathorn stated in a report that investors are closely watching the upcoming inflation data to assess the potential direction of future central bank interest rate decisions.She pointed out that market expectations for a rate hike by the Federal Reserve before the end of the year have risen significantly over the past week, so the inflation data could reinforce or challenge this repricing expectation. LSEG data shows that investors have fully priced in a 25 basis point rate hike by the Federal Reserve by the end of 2026.

According to Jinshi, the Global Research Department of Bank of America reported that due to a significant rise in energy prices, the overall CPI in the U.S. for May is expected to increase by 0.46% month-on-month, and the year-on-year growth rate is expected to rise from 3.8% in April to 4.2%, reaching the highest level since April 2023. The core CPI month-on-month increase is expected to be 0.2%, with a year-on-year increase of 2.8%. The bank pointed out that this CPI data will be the focus of attention regarding the impact on core PCE and the outlook for monetary policy.

According to CoinDesk, Japan's SBI Shinsei Bank will launch a pilot program on June 10, allowing customers to convert part of their deposit interest into BTC, ETH, or XRP.The plan, titled "Interest Conversion," aims to introduce crypto assets into traditional deposit products, allowing users to gain exposure to cryptocurrencies without directly purchasing them. This initiative will proceed in a small-scale pilot form, with further expansion depending on customer participation and the regulatory environment.

According to PYMNTS, the comment period for the implementation rules of the GENIUS Act by the Federal Deposit Insurance Corporation (FDIC) ended on June 9. The proposal clearly states that payment stablecoins themselves do not qualify as deposits insured by the FDIC, and stablecoin holders do not enjoy pass-through deposit insurance. Industry feedback indicates significant disagreements in the payment sector.Traditional institutions such as banks strongly oppose incentives like yields, rewards, or cashback offered by stablecoins, arguing that this would attract deposits away from banks, harming local lending capacity, and calling for a clear prohibition on any form of compensation within the stablecoin ecosystem; the International Organization for Standardization (ISO) technical committee suggested that the FDIC require the adoption of machine-readable reporting formats and Legal Entity Identifiers (LEI) to enhance transparency, regulatory information sharing, and data quality.

According to Jinshi reports, the Bank of Japan plans to raise interest rates to 1% at the June meeting.

According to Jinshi reports, Bank of America Securities stated that investors should remain cautious about the U.S. stock market, as an increasing number of bear market signals indicate that the market is approaching its peak. The strategist team led by Savita Subramanian noted in a report on June 5 that about 70% of bear market signals have been triggered, with 17 out of 20 valuation metrics for the S&P 500 index showing "statistically significant overvaluation." In addition, the strategists believe that the performance of high price-to-earnings ratio stocks has been too strong, indicating "signs of excessive speculation."

According to CoinDesk, in April this year, the cross-chain bridge KelpDAO based on LayerZero suffered an attack of $292 million, triggering a deposit run of up to $8.45 billion in the DeFi lending protocol Aave within 48 hours. In response to external doubts about the protocol's risk control capabilities, Aave founder and CEO Stani Kulechov stated that this incident precisely proves Aave's "resilience."Kulechov stated at the Proof of Talk conference in Paris that Aave V3 has withstood multiple market cycles and remains stable even in extreme market conditions. He believes that recent DeFi security incidents mainly stem from third-party infrastructure rather than vulnerabilities in the protocol's own smart contracts.However, according to risk analysis firm LlamaRisk, the attacker exploited a vulnerability in KelpDAO to mint worthless collateral and deposited it into Aave, subsequently withdrawing real wETH, resulting in approximately $123.7 million in bad debt for Aave V3. To address the crisis, Aave DAO urgently allocated 25,000 ETH, and Kulechov personally injected an additional 5,000 ETH, with a total rescue scale of about $300 million.In response to the exposed systemic risks, Aave is planning to restructure its risk management framework through the V4 upgrade. The new version will adopt a modular "Hub-and-Spoke" design, replacing the traditional liquidity pool model, allowing the protocol to implement independent risk pricing for different collateral types and freeze specific collateral assets before risk spreads, thereby reducing the likelihood of chain reactions triggered by cross-chain bridge failures.

The Financial Supervisory Service of South Korea stated that the tense situation in the Middle East and market expectations for interest rate hikes by the Federal Reserve are driving fluctuations in the Korean won exchange rate. The Financial Supervisory Service has requested banks to strengthen risk management measures to cope with market turmoil.In addition, the Financial Supervisory Service and the Bank of Korea will conduct inspections on speculative Korean won trading. The Financial Supervisory Service emphasized that excessive volatility in the foreign exchange market and unilateral positions are undesirable, and stated that the fundamentals of the South Korean economy and external credibility remain solid.

According to Crypto Briefing, the Central Bank of Russia has rejected the proposal to immediately expand access to cryptocurrencies, not allowing non-qualified investors to trade cryptocurrencies other than Bitcoin, Ethereum, and USDT. Vice President Vladimir Chistyukhin stated that after the new regulations come into effect, only these three mainstream digital currencies will be allowed for trading.Chistyukhin pointed out that the high volatility of cryptocurrencies, market risks, and the possibility that stablecoins may be restricted or frozen are reasons for maintaining strict limits. These rules are part of Russia's digital currency legislation, which is expected to come into effect next month after being overwhelmingly passed in the first reading by the State Duma in April. Regulators also intend to maintain the proposed investment cap of 300,000 rubles.As part of the proposed rules, both qualified and non-qualified investors must pass a mandatory knowledge test before purchasing any digital assets. From 2027, unauthorized cryptocurrency lending will be prohibited. The bill still needs to go through a second reading, a third reading, approval from the Federation Council, and presidential signing to become law.

The revenue agreement PiggyBank issued a statement acknowledging a serious error in the LAB token basis trading that took place last month. PiggyBank disclosed that the team previously purchased locked LAB tokens at a low price through OTC channels for about $100,000 (accounting for approximately 2% of the portfolio) and simultaneously shorted perpetual contracts for hedging.However, during the holding period, LAB encountered severe market manipulation, liquidity depletion, and deeply negative funding rates, leading to excessively high hedging costs. The team ultimately chose to close the short position to limit downside risk. Based on current prices, the total value of the locked LAB position is $1.35 million. However, due to the lack of liquidity in this position, PiggyBank will exclude it from the net asset value calculation until the first unlock on August 14.Although the situation is still changing and there is still potential for considerable returns, this is the "fairest and most transparent" way for users to manage liquidity. Therefore, today's net asset value will show a decline of approximately 15% in the USDC treasury, about 12% in SPYx, and about 9% in JitoSOL. A detailed report will be released next week, including follow-up processing plans. On-chain investigator ZachXBT previously publicly questioned PiggyBank, accusing it of insider control over more than 95% of the supply.

According to Jinshi reports, after the release of significantly better-than-expected non-farm payroll data on Friday, market expectations for the Federal Reserve's interest rate hikes this year surged, causing spot gold to plummet sharply, nearly erasing all gains for the year, marking a fourth consecutive week of declines. Silver's overall trend mirrored that of gold but with slightly stronger volatility, closing down 9.85% for the week. The U.S. dollar index, buoyed by the unexpected non-farm data, rose significantly to just above the 100 mark. Following the non-farm data on Friday, U.S. tech stocks suffered heavy losses. The Dow Jones Industrial Average closed down 1.35%, the S&P 500 index fell 2.65%, marking the largest single-day drop since October 2025; the Nasdaq dropped 4.18%, the largest single-day decline since April 2025.Goldman Sachs believes that the current market sentiment is clearly more greedy than fearful. Deutsche Bank pointed out that the market is highly sensitive to any negative news involving Iran. Here are the key points the market will focus on in the new week (all times are in Beijing time):Monday 23:00, U.S. May New York Fed 1-year inflation expectations;Tuesday 14:00, Germany April seasonally adjusted industrial production month-on-month, April seasonally adjusted trade balance;Tuesday 18:00, U.S. May NFIB Small Business Confidence Index;Tuesday 20:15, U.S. ADP employment change for the week ending May 23;Wednesday 20:30, U.S. May unadjusted CPI, May seasonally adjusted CPI/core CPI month-on-month;Wednesday 21:45, Bank of Canada announces interest rate decision;Thursday 20:15, European Central Bank announces interest rate decision;Thursday 20:30, U.S. initial jobless claims for the week ending June 6, May PPI year-on-year/month-on-month;Friday 14:00, Germany May CPI month-on-month final value;Friday 14:45, France May CPI month-on-month final value;Friday 22:00, U.S. June 1-year inflation expectations preliminary value, June University of Michigan Consumer Confidence Index preliminary value.In the coming week, the market will face a series of important events, but the most anticipated remains the potential initial public offering (IPO) of SpaceX. According to current plans, this transaction may launch on Friday, and if it proceeds, it is expected to have a significant impact on overall market sentiment, although the specific direction is still difficult to determine.In addition to SpaceX, the Apple Worldwide Developers Conference, earnings reports, and TSMC's May sales data may also become important factors influencing market volatility. Next week, U.S. stocks will enter a relatively calm phase of earnings season; although the overall number of reports is not large, heavyweight tech companies Oracle and Adobe will take the stage one after another, becoming the focus of market attention.

According to the official announcement, Bitget has launched a total of 45 US stock and popular ETF spot tokens including rIBM (IBM), rGS (Goldman Sachs), rC (Citigroup), rAXP (American Express), and rJNJ (Johnson & Johnson).

According to Bank Reg Blog, Kraken co-CEO Arjun Sethi has signed an agreement to acquire a small bank in Wyoming, Summit National Bank, which is in bankruptcy proceedings, for $5.5 million.The bank had previously failed multiple sale transactions. Economist David Beckworth asked whether this move would affect Kraken's streamlined Federal Reserve master account pilot and whether this acquisition would convert the streamlined account into a regular account. Bank Reg Blog responded that no direct impact is expected; the bank does indeed have a regular master account, but this transaction is being conducted in Sethi's personal capacity, rather than Kraken owning the bank.

According to CoinDesk, the U.S. House Financial Services Committee held a hearing on stablecoin regulation and the bank charter application of World Liberty Financial (WLFI). Acting Comptroller of the Currency Jonathan Gould denied any "endorsement" from Trump, pointing out that the only political pressure his agency faces comes from Democratic lawmakers, not Trump. Democrats questioned the compliance of WLFI's bank charter application, citing its connections to foreign investors and alleged regulatory violations involving entities such as Binance.Additionally, Federal Deposit Insurance Corporation (FDIC) Chairman Travis Hill stated that new rules requiring stablecoin issuers to establish customer identification programs will be proposed soon. Federal Reserve Vice Chair for Supervision Michelle Bowman provided clarification regarding the approval of a master account for the cryptocurrency exchange Kraken, emphasizing that the account has limited authority and an initial term of 12 months, during which close monitoring will occur to gather experience for formal rulemaking.

According to The Wall Street Journal, several large banks in the United States plan to launch a tokenized deposit network next year, aimed at addressing the threat posed by stablecoins and cryptocurrency companies that have accelerated their penetration into traditional banking with the support of the Trump administration.The network will connect traditional payment rails with digital asset infrastructure, operated by the real-time payment network company Clearing House, which is jointly owned by several major banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo.

According to The Block, Geoffrey Kendrick, the head of digital asset research at Standard Chartered Bank, stated that "the bottom has almost appeared" for Bitcoin after a recent sharp decline, with the current range of about $63,000 being a "buying range." He pointed out that since February, the overall holdings of the U.S. spot Bitcoin ETF have remained stable, with no concentrated redemptions that would raise concerns, indicating that funds are more "structurally stable."Kendrick expects that after the recent selling pressure triggered by Strategy's sale of 32 BTC, there may be a buyback at a scale of 10 times or even 100 times, following historical practices, which could signal the confirmation of a temporary low. He also cautioned that there is still a downside risk of Bitcoin falling below $60,000, but believes that buying in batches is preferable to trying to time the bottom precisely. The bank maintains its year-end targets of $100,000 for Bitcoin and $4,000 for Ethereum.