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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 Jinshi reports, Federal Reserve's Harker stated that a recent interest rate hike may be appropriate as the labor market seems to be balancing. She pointed out that the unemployment rate remains at 4.3%, which is essentially consistent with full employment. Harker believes that given the uncertainty of the economic outlook, it is reasonable to keep interest rates stable, but if recent trends continue, action may be needed soon.

According to the THORChain blog, ZEC has been added to the THORChain launch queue, but due to a recently disclosed vulnerability in Zcash that affects the normal use of integrators, THORChain needs to complete a code modification in the Bifrost module before proceeding.The development team stated that the modification is very minor but must be completed before the launch of ZEC. Currently, Monero (XMR) is expected to launch at the end of this month, with ZEC following afterward.

The decentralized AI infrastructure network DGrid AI announced an official partnership with MiniMax. Both parties will provide low-cost, high-availability access to MiniMax models for global developers and agents through the DGrid decentralized AI Gateway, jointly promoting its adoption in a broader ecosystem.DGrid is a decentralized AI infrastructure that aggregates mainstream AI models from around the world. It currently connects over 200 models, including Claude, GPT, and Gemini, enabling one-stop access through a unified API. The platform is aimed at developers and AI agent builders, offering high-availability, low-latency model access services, and is committed to lowering the entry barriers and usage costs for AI applications.MiniMax is a global leader in general artificial intelligence across all modalities and is one of the few AI companies capable of self-developing models for text, voice, video, music, and other modalities. This official collaboration with MiniMax represents another significant expansion for DGrid on the model supply side, marking a new step in connecting mainstream model vendors and building a decentralized AI ecosystem. With the integration of more high-quality models, DGrid is becoming a unified entry point for AI developers to access diverse model capabilities, providing more flexible and open infrastructure support for the next generation of intelligent applications.As part of the initial collaboration, MiniMax's flagship model M3 has been launched on DGrid, and DGrid Premium users can enjoy a 55% discount directly.

Slow Fog's Yuxian stated on platform X that incidents of search engine poisoning involving fake Codex, Claude Code, and others have recently surged. It mentioned that it has previously warned multiple times about Google search results and its own services like Google Sites being exploited by black and gray market poisoning, but Google has not taken action against such obvious poisoning methods.

According to Beijing Business Today, the Monetary Authority of Macao announced that Macao has completed the system integration with the multilateral central bank digital currency bridge mBridge project, and officially launched local bank "on-bridge" transactions on June 2, to establish an efficient, secure, and low-cost cross-border payment settlement channel.

According to The Block, the monthly transaction volume of crypto venture capital has dropped to about 50 transactions, the lowest level since before 2021. The two historically most active sectors, infrastructure and crypto financial services, have both fallen to multi-year lows. The massive shift of investor attention towards the AI sector, combined with a shortage of early high-quality project supply, is the main reason for the decline in transaction volume.Despite the drop in the number of transactions, the total amount of financing remains relatively high, showing a "few large amounts" characteristic—recently, the prediction market platform Kalshi completed a $1 billion financing, which is a typical example. Analysts point out that the current low-noise environment is actually a window period for projects with clear use cases and real traction. Whether a recovery can be achieved in the second half of 2026 will depend on whether new sectors beyond prediction markets and financial infrastructure can form a consensus for large-scale investment.

According to The Defiant, Binance announced that it will officially stop centralized NFT market services starting from July 3, 2026, and all NFT functions will be migrated to the self-custody Binance Wallet.This move marks a near-complete retreat of NFT markets supported by centralized exchanges (CEX). Previously, platforms such as Coinbase NFT, Kraken NFT, Gemini Nifty Gateway, and X2Y2 have successively closed or transformed.Binance stated that this adjustment aims to provide users with a more seamless Web3 NFT experience. Users must withdraw transferable NFTs to Binance Wallet or other self-custody wallets by July 3 at 23:59 (UTC), and the platform will reimburse part of the withdrawal fees.

According to Jinshi reports, the OECD stated that if economic turmoil continues, central banks in various countries are expected to raise interest rates by 50 to 75 basis points.

DeepSeek plans to raise approximately $7 billion in its first round of financing, with a valuation of up to $59 billion. Tencent and CATL will become DeepSeek's largest external investors; NetEase and JD.com also plan to participate in the investment.

According to CoinDesk, the UK House of Lords Financial Services Regulatory Committee has called on the Bank of England to reconsider the proposed limits on stablecoin holdings in its latest report. The committee suggested that rather than imposing a holding cap in advance, it would be better to monitor market growth and only implement restrictions when financial stability risks clearly necessitate it. The Bank of England had previously proposed a holding limit of £20,000 for individuals and £10 million for businesses for each stablecoin. The report also questioned the rules on reserve assets, stating that this could have a significant impact on the commercial viability of UK stablecoin issuers. The Deputy Governor of the Bank of England acknowledged last month that the proposed holding limits and reserve requirements were "too conservative" and stated that they are exploring other ways to manage the risks associated with stablecoins.

Binance Research stated that the recent weakening of the cryptocurrency market may not be due to the cryptocurrency assets themselves, but rather due to the high concentration of funds in the U.S. stock market. It pointed out that the CBOE Discrete Index rose to 42, the third highest in history, reflecting the concentration of funds within the S&P 500 index towards a few popular themes, which has marginalized Bitcoin.

According to Jinshi News, Rabobank still insists that the European Central Bank will raise interest rates by 25 basis points next week. The bank expects the European Central Bank to significantly raise its own inflation forecasts, while economic growth may be weaker than its March forecast levels.

According to Bits.media, the Central Bank of Brazil has tightened the licensing rules for virtual asset service providers, requiring them to undergo independent financial audits before obtaining operational licenses starting June 1. The auditing firms must not only examine the company's financial status but also review its compliance with anti-money laundering and counter-terrorism financing regulations, including whether the platform separates its own funds from customer assets, its risk management practices, and employee training. Auditors must be registered with the Brazilian Securities Commission. Cryptocurrency exchanges, brokerage firms, and custody services applying for a license for the first time must comply with these requirements from the start of the registration process, and companies that already hold licenses must also pass independent audits when renewing.Brazil first clarified in legislation in 2022 that virtual asset services are regulated by the central bank, establishing a category for licensed virtual asset service providers in November 2025. Additionally, Brazil recently imposed a complete ban on 28 betting and prediction market platforms, including Polymarket and Kalshi, on the grounds that they did not comply with local derivatives trading requirements. Starting October 1, Brazilian electronic foreign exchange providers will be prohibited from using cryptocurrencies for international remittances.

According to Jinshi reports, European Central Bank Executive Board Member Schnabel stated that as price pressures spread beyond energy and the risk of inflation expectations becoming unanchored rises, the European Central Bank can no longer ignore the inflation impact brought about by the war in Iran.She pointed out that the destruction of energy infrastructure and global supply chains has changed price dynamics in a more lasting way, and policymakers may need to respond. Schnabel emphasized that the current shock is different from past energy crises, driving up production costs around the world.

According to Bloomberg, European Central Bank Executive Board member Isabel Schnabel stated that stablecoins pose multiple risks to financial stability and monetary policy, and the best response from the European Central Bank is to ensure that public money continues to serve as the anchor of the system.She pointed out that while private monetary innovations like stablecoins can bring "significant benefits," they may also increase the risk of runs on the financial system, weaken the transmission effects of interest rate decisions, and reinforce the international dominance of the dollar. Schnabel emphasized that the European Central Bank's strategy relies on the digital euro as a retail central bank digital currency and tokenized central bank money as wholesale CBDC.She noted that many advantages of stablecoins stem from their underlying technology rather than the characteristics of the instruments themselves. The day before Schnabel's remarks, Federal Reserve Governor Waller stated that the global spread of stablecoins could expand the influence of U.S. central bank policies and questioned CBDCs, calling them "a stupid thing."

According to Cointelegraph, Swan Bitcoin CEO Cory Klippsten stated in an interview that although institutional investors' participation in the cryptocurrency space is increasing, it is very important to pay attention to retail sentiment towards Bitcoin, as Bitcoin holdings are far from being concentrated. "Bitcoin is not monopolized like BlackRock or Fidelity; in fact, it is primarily purchased by numerous retail accounts."

According to crypto journalist Eleanor Terrett, U.S. Treasury Secretary Scott Bessent reiterated today that a central bank digital currency (CBDC) will not be launched during the Trump administration. However, the House of Representatives has passed the "ROAD to Housing Act," which only includes a temporary ban on the Federal Reserve issuing a CBDC, set to expire in December 2030. The bill has not yet passed in the Senate.Senate Republican leader Thune stated that pushing for a permanent ban may face resistance from Democrats. Some House Republicans believe that the expiration of the ban may reopen the space for the Federal Reserve to explore a CBDC. Fed Chairman Kevin Warsh stated that as long as he has the authority to stop it, he will not allow the Fed to advance a CBDC.

Decentralized USDD announced that its yield-bearing token sUSDD officially launched on Pendle's Ethereum chain 91-day fixed income market, marking another breakthrough for USDD in the DeFi yield scenario and capital efficiency layout.This event will take place on May 28 at 8:00 AM (Singapore time), and sUSDD holders can participate by locking in fixed rates, trading yield rights, providing liquidity, and more. During the event, YT users can share over $300,000 in incentives, combined with Pendle's official 30% exclusive rewards, and have the chance to receive random airdrops of TRX.The official stated that they will continue to explore diversified yields in the future, effectively meeting market liquidity demands and promoting USDD's deep integration into the mainstream DeFi ecosystem.