Crypto Morning Brief: Trump extends deadline for imposing tariffs on the EU to July 9; this week, tokens including SUI, BIO, and OP will undergo large-scale unlocks
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Crypto Morning Brief: Trump extends deadline for imposing tariffs on the EU to July 9; this week, tokens including SUI, BIO, and OP will undergo large-scale unlocks
The Cyberspace Administration of China continues to intensively rectify乱象 in online financial information.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump agrees this morning to extend deadline for imposing tariffs on EU until July 9
U.S. President Trump posted on social media this morning, saying, "Today I received a call from European Commission President Ursula von der Leyen requesting an extension of the deadline regarding the 50% tariff on trade with the EU. I agreed to extend it—until July 9, 2025—it is my honor. The Commission President stated that negotiations will begin swiftly."
Bitcoin 2025 Conference speaker list released: VP Vance, Silk Road founder Ross, Michael Saylor among speakers
According to Bitcoin Magazine, the speaker list for the Bitcoin 2025 Conference has been announced, including:
U.S. Vice President JD Vance
Silk Road founder Ross Ulbricht
Trump's second son Eric Trump
Trump's eldest son Donald Trump Jr.
Strategy founder Michael Saylor
U.S. Senator Cynthia Lummis
CAC continues in-depth rectification of online financial information chaos
According to Jin10 News, CAC China recently coordinated with financial regulators to legally handle a number of accounts and websites spreading false capital market information, conducting illegal stock recommendations, and hyping virtual currency trading. Some typical cases are disclosed as follows: 1. Accounts such as "AiguPiao APP" published false information about the capital market. 2. Accounts such as "Kan Ge Says Finance" engaged in illegal stock recommendations. 3. Accounts and websites such as "Huo Ge Talks Crypto" promoted and hyped virtual currency trading. 4. Accounts such as "Xiao Bei You" spread black-and-gray industry information in the financial sector.
Trader James Wynn closes his Bitcoin short position this morning, losing approximately $15.86 million
According to on-chain analyst Onchain Lens (@OnchainLens), trader James Wynn (@JamesWynnReal) closed his 40x leveraged Bitcoin short position this morning, suffering a loss of approximately $15.86 million.
James Wynn: From a technical analysis perspective, the crypto market may rise within 24 to 48 hours
Whale James Wynn posted on X, stating that from a technical analysis standpoint, the crypto market may rise in the short term (possibly within 24–48 hours), and he also changed his social media profile picture to Bruce Lee.
In addition, according to Hypurrscan data, the value of his 40x BTC short position has exceeded $800 million ($826 million), with an entry price of $107,052.2 and a liquidation price of $111,470, currently at a loss of $1,215,801.
Cetus releases community update: Simulating different fund recovery plans, proposed protocol upgrade via PoS voting
Cetus has released a community update, with main disclosures including:
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The affected funds consist of two parts: one part within Sui, and another part primarily bridged out of the ecosystem in the form of ETH.
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Data recovery work for the Cetus protocol is actively underway, expected to take dozens of hours.
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The aggregator service has resumed operations, supporting swaps through partners such as Phantom and Binance Alpha. CLMM pools at Cetus confirmed unaffected by this incident will resume operation once accurate holdings data is fully restored.
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Actively discussing with the Sui Foundation and other community members to finalize key recovery details.
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Proceeding simultaneously in two directions: (1) resolving the issue as quickly as possible through negotiation with the white hat; (2) actively collecting clues and evidence for legal channels to recover funds.
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Simulating different recovery scenarios and designing technically feasible fund recovery and compensation plans.
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Proposed a protocol upgrade via PoS voting to unlock and return most of the stolen funds currently frozen in the attacker’s Sui wallet.
Earlier news: On May 22, Cetus Protocol officially announced that it suffered a hacker attack, resulting in approximately $223 million worth of funds being stolen.
Web3 game Ember Sword shuts down due to lack of funding, previously raised $203 million via NFT sales
According to Decrypt, Ember Sword, an Ethereum-based MMORPG, has announced its shutdown. Developer Bright Star Studios said it was forced to halt development due to inability to secure necessary operating funds.
The game rose during the 2021 metaverse boom, raising $203 million through NFT land sales. It had previously secured $2 million in funding from high-profile investors including streamer Dr. Disrespect and The Sandbox co-founder Sebastien Borget, and hired veteran gaming figures such as Rob Pardo, lead designer of World of Warcraft, as advisors. After receiving poor feedback following its closed beta launch in July 2024, the game failed to reverse its fortunes even after migrating to Mantle, an Ethereum Layer 2 network.
Michael Saylor again posts Bitcoin Tracker info, possibly hinting at continued BTC accumulation
Strategy founder Michael Saylor has once again posted Bitcoin Tracker-related information, stating, "I only use money I can't afford to lose to buy Bitcoin."
Based on previous patterns, Strategy typically discloses Bitcoin accumulation information the day after such messages are posted.
Tether CEO: Focus remains on overseas markets, considering issuing compliant stablecoins to attract institutional capital
According to Bloomberg, Tether CEO Paolo Ardoino said that despite U.S. progress on stablecoin legislation, Tether remains focused on overseas markets and is monitoring the impact of the GENIUS Act on foreign issuers.
He revealed that the company is considering issuing new regulated stablecoins to attract institutional investors and is currently in talks with the Big Four accounting firms for formal audits, though reviews are still handled by BDO Italy. Regarding large banks' plans to jointly issue stablecoins, Ardoino said Tether's user base consists of 3 billion unbanked people globally, so it is not concerned about competition.
Jingdong's stablecoin enters second phase of sandbox testing, to serve retail and institutional clients
Liu Peng, CEO of Jingdong Blockchain Technology, said in an interview that Jingdong's stablecoin is a public-chain-based stablecoin pegged 1:1 to fiat currencies such as HKD or USD. It has now entered the second phase of sandbox testing and will offer mobile and PC applications for both retail and institutional users. Test scenarios mainly include cross-border payments, investment transactions, and retail payments. They are currently collaborating with major compliant exchanges. For retail payment use cases, they are integrating and testing with Jingdong's Hong Kong and Macau sites and other merchant acquiring scenarios.
This week will see large token unlocks for SUI, BIO, OP, and others
Token Unlocks data shows that multiple tokens will undergo large-scale unlocks this week, totaling over $250 million. Specifically:
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SUI will unlock 44 million tokens on June 1, valued at approximately $154 million, representing 1.32% of circulating supply;
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BIO will unlock 339 million tokens on May 28, valued at approximately $27.38 million, representing 20.21% of circulating supply;
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OP will unlock 31.34 million tokens on May 31, valued at approximately $22.68 million, representing 1.83% of circulating supply;
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KMNO will unlock 229 million tokens on May 30, valued at approximately $14.92 million, representing 14.90% of circulating supply;
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ZETA will unlock 44.26 million tokens on June 1, valued at approximately $10.82 million, representing 5.34% of circulating supply;
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REZ will unlock 424 million tokens on May 30, valued at approximately $5.59 million, representing 16.10% of circulating supply;
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DYDX will unlock 8.33 million tokens on June 1, valued at approximately $4.83 million, representing 1.07% of circulating supply;
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GUN will unlock 83.33 million tokens on May 30, valued at approximately $3.86 million, representing 13.79% of circulating supply.
Market Trends
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How Did Sui Freeze the $160 Million Stolen by Hackers?
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Uncovering the Witkoff Family: Trump’s Friend, Middle East Envoy, and Crypto Wealth
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