Crypto Morning Brief: Trump says the appointment of the new Federal Reserve chair will be announced soon; this week, tokens including SEI, APT, and STRK will undergo large-scale unlocks
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Crypto Morning Brief: Trump says the appointment of the new Federal Reserve chair will be announced soon; this week, tokens including SEI, APT, and STRK will undergo large-scale unlocks
Meta is in talks over a potential AI investment exceeding $10 billion.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump warns Musk of "serious consequences" if he funds Democrats, signaling no intention to repair relationship
According to Jinshi Data, on June 7 local time, U.S. President Donald Trump stated that Elon Musk would face "very serious consequences" if he funded Democratic candidates opposing the Republican budget proposal. Trump said, "If he does this, he will pay a price," without specifying what measures might be taken. He added that he has no intention of repairing his relationship with Musk, saying, "I think it’s over."
Trump: Appointment of next Fed Chair to be announced soon
According to Jinshi Data, on June 6, President Trump told reporters the appointment of the next Federal Reserve Chair would be announced soon, and that he already has a clear idea about the candidate. He also said a good Fed Chair would lower interest rates. When asked whether he would consider cutting government contracts held by Musk, Trump responded that he would consider everything.
U.S. Democrats to hold hearing next week on the "Stop Trump from Involvement in Cryptocurrency Act"
According to crypto journalist Eleanor Terrett, the House Financial Services Committee, led by Maxine Waters, will hold a minority day hearing at 9:00 AM Eastern Time to further examine what they describe as President Trump's "crypto crimes" and assess broader risks posed by the CLARITY Act (HR 3633).
The hearing will focus on the "Stop Trump from Involvement in Cryptocurrency Act" (HR 3573) and regulatory issues surrounding the CLARITY Act (HR 3633).
Circle President: Going public is a necessary step; aims for cooperation, not competition with banks
According to Yahoo Finance, Heath Tarbert, President of Circle and former CFTC Chairman, said in an interview that when Circle launched USDC between 2017 and 2018, its goal was to create a new foundational layer of digital money capable of moving at internet speed and designed to last. Being a U.S. public company—subject to the highest standards of transparency and corporate governance—is a key part of Circle’s identity and a necessary next step. Compared to traditional financial institutions, Circle is a neutral platform combining compliance DNA with Web3 principles. Banks are ideal partners, not competitors. Going public signals to both banks and tech firms that their capital is now accessible, enabling meaningful collaboration with Circle under regulatory approval.
Airwallex CEO questions stablecoin utility: Hard to replace traditional cross-border payments
Jack Zhang, co-founder and CEO of Airwallex, questioned the practical use of stablecoins in a post on X, stating: "Investors keep asking me how stablecoins reduce FX fees. If you're sending money from USD to EUR and the recipient still needs to receive EUR in their bank account, I don’t see how stablecoins can reduce costs—the conversion cost from stablecoin to the receiving currency is far higher than interbank FX markets. Crypto remains an area that hasn’t been properly understood, and we’ve yet to see any real-world application cases in the past 15 years."
Uber CEO: Bitcoin is a "proven commodity," stablecoins aid international transactions
According to BitcoinNewsCom, Uber CEO Dara Khosrowshahi recently stated that Bitcoin is already "a proven commodity" and believes stablecoins can effectively facilitate international transactions.
Pump.fun plans to share protocol revenue with PUMP token holders
According to The Block, Pump.fun is planning an initial coin offering (ICO) to raise $1 billion, potentially valuing the company at $4 billion, and intends to share protocol revenue with PUMP token holders. Sources indicate the Solana-based meme coin platform plans to allocate 25% of tokens for public sale and 10% for airdrops, with a total supply cap of 1 trillion tokens.
The private sale price is set at $0.004 per token, with the public sale expected to launch within two weeks, including listings on exchanges such as Binance. Since its launch in early 2024, Pump.fun has generated approximately $677 million in cumulative revenue, currently earning around $1 million daily, making it one of the most profitable startups in the crypto space.
Cetus Protocol to fully restart on June 8, LP recovery rate at 85%-99%
According to Cetus Protocol, the protocol will fully restart on June 8, 2025, at 3:00 UTC. Previously, Cetus' CLMM pool suffered a hacker attack resulting in significant token losses.
After the restart, users will regain access to all Cetus features, including trading, managing liquidity positions, adding/removing liquidity, and claiming fees and rewards. Liquidity recovery rates for affected pools range between 85% and 99%.
To compensate for losses, Cetus will allocate 15% of its token supply to a compensation contract—5% immediately claimable upon restart, and the remaining 10% linearly unlocked over 12 months starting June 10, 2025.
The team has committed all available cash reserves (approximately $7 million) and secured a $30 million USDC loan from the Sui Foundation to support recovery. Legal actions are also underway across multiple jurisdictions to recover remaining funds.
Meta negotiating massive AI investment potentially exceeding $10 billion
According to Jinshi Data, Meta Platforms (META.O) is in talks with AI startup ScaleAI regarding a multi-billion-dollar investment, which could exceed $10 billion in value.
213th Ethereum ACDE Meeting: Postponement of Gas Limit increase to 60M
According to Tim Beiko’s summary of the 213th Ethereum Execution Layer Core Developer meeting (ACDE), key discussion points included: postponing the Gas Limit increase to 60M (pending throughput and latency data from Berlinterop testing; worst-case execution may take ~3 seconds); Glamsterdam brainstorming session; FOCIL implemented across five clients aiming to resist mempool censorship; EVM64 promising faster execution via 64-bit algorithms; benchmarking still pending.
This week, tokens including CONX, CHEEL, APT, STRK face large unlocks totaling over $300 million
Data from Token Unlocks shows major token unlocks this week for CONX, CHEEL, APT, STRK, and others, with a total value exceeding $300 million:
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CONX: 3.62 million tokens unlocking on June 15, worth ~$133.2 million;
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CHEEL: 20.81 million tokens unlocking on June 13, worth ~$106.56 million;
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APT: 11.31 million tokens unlocking on June 12, worth ~$53.83 million, representing 1.79% of circulating supply;
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STRK: 127 million tokens unlocking on June 15, worth ~$16.9 million, representing 3.79% of circulating supply;
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IMX: 24.52 million tokens unlocking on June 13, worth ~$13 million, representing 1.33% of circulating supply;
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SEI: 55.56 million tokens unlocking on June 15, worth ~$10.49 million, representing 1.04% of circulating supply;
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MOVE: 50 million tokens unlocking on June 9, worth ~$7.27 million, representing 1.96% of circulating supply;
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BB: 42.89 million tokens unlocking on June 12, worth ~$4.74 million, representing 10.47% of circulating supply;
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XCN: 296.38 million tokens unlocking on June 15, worth ~$4.27 million, representing 0.87% of circulating supply;
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AGI: 69.03 million tokens unlocking on June 11, worth ~$3.81 million, representing 4.00% of circulating supply;
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COOKIE: 13.88 million tokens unlocking on June 13, worth ~$3.08 million, representing 2.54% of circulating supply;
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IOTA: 15.16 million tokens unlocking on June 11, worth ~$2.78 million, representing 0.40% of circulating supply;
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IO: 3.22 million tokens unlocking on June 11, worth ~$2.48 million, representing 1.98% of circulating supply;
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RENDER: 492,130 tokens unlocking on June 11, worth ~$1.9 million, representing 0.10% of circulating supply;
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EIGEN: 1.29 million tokens unlocking on June 10, worth ~$1.82 million, representing 0.42% of circulating supply.
Market Data
Recommended Reading
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Circle’s NYSE IPO Roadshow PPT Leaked: Valuation at $7.2 Billion, IDG and Accel Among Shareholders
This article focuses on Circle, issuer of the USDC stablecoin, generating income by investing in short-term U.S. Treasuries, with reserve earnings accounting for 99% of total revenue in 2024. The company saw significant revenue and profit growth from 2022 to 2024 but faces structural challenges such as high payout costs and heavy reliance on Treasury returns. After the IPO, founder Jeremy Allaire will retain significant voting power. Through multiple funding rounds and strategic partnerships, Circle has gradually expanded its market influence.
Beijing Announces New Compliant Approach for Handling Seized Cryptocurrencies
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Musk and Trump’s Four-Day Fallout Costs Tesla $1 Trillion in Market Value
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This article addresses anxieties around AI-driven "class stagnation" and argues that AI is ushering in a new era of "great divergence." The author contends that AI is reshaping societal rules, phasing out "mid-tier" workers while rewarding exceptional human capabilities. Using historical parables and modern examples, the article emphasizes that future competitiveness hinges on cognition, creativity, and the ability to adapt alongside AI.
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