In the past 24 hours, the total net liquidation across all platforms reached $142 million, resulting in a long and short squeeze.

On June 4th, BounceBit officially made an announcement. The institutional-grade stablecoin USD1 issued by WLFI is now supported on BounceBit. The official statement pointed out that with this integration, USD1 has become a supported asset within the BounceBit CeDeFi portal. Users can directly deploy USD1 to the "Auto" strategy. This strategy channels funds to both centralized and decentralized platforms, providing a secure and Delta-neutral yield opportunity.

On June 4th, as per Coindesk, the cryptocurrency exchange platform Rails has successfully concluded a financing round amounting to $14 million. This particular financing round was spearheaded by Kraken, Slow Ventures, CMCC Global, Quantstamp, and Round13 Capital. The obtained funds will be allocated towards the launch of a trading platform that integrates self-custody with high-speed execution.

On June 4th, as reported by The Block, the cryptocurrency lending startup 3Jane has successfully completed a seed round of financing amounting to $5.2 million. This financing round was spearheaded by Paradigm, and other specific details have not been made public yet. The company characterized its protocol as "a credit-based peer-to-peer money market that offers yields to farmers, traders, businesses, and AI agents through an algorithmic, real-time unsecured USDC credit line." According to its announcement, 3Jane aims to launch its mainnet in the third quarter of this year. The company initially concentrates on the US market and claims that the US "credit line, income-based loans, merchant cash advances, and trade credit" market is valued at over $1 trillion.

On June 4th, Swiss bank Sygnum pointed out in a market outlook report released on Tuesday that the circulating supply of Bitcoin is rapidly shrinking. Over the past 18 months, the estimated liquidity of the BTC supply has decreased by 30%. This drastic liquidity drought may set the stage for upward price volatility in the coming months. Analysts wrote in the report: "Against the backdrop of continuous strong demand, the liquidity supply of Bitcoin is facing severe tightening, creating conditions for a price surge." The report specifically emphasized the surge in Bitcoin ETF inflows and the increasing openness of various governments to Bitcoin reserves, which is fueling market expectations of a 'demand shock' - a situation where there are too many buyers and too few circulating tokens. Sygnum data shows that since the end of 2023, more than one million BTC have flowed out of exchanges. ETF institutions and corporate funds are the main hoarding forces. This trend is putting additional

On June 4th, U.S. Senator Elizabeth Warren made an announcement on social media that the Republican Party added a provision at the very last moment to exempt cryptocurrency wallets in the "GENIUS Act". Currently, the Trump family is planning to launch a cryptocurrency wallet. She will introduce an amendment to close this loophole and has emphasized that the bill will not be passed without robust anti-corruption measures.

On June 4th, according to on-chain data analyst Ai Auntie (@ai_9684xtpa), when Bitcoin briefly dropped below $10,500, the liquidation price of James Wynn's position at $104,720 is only $233 away. At present, he still holds a long position of 1201 BTC ($126 million), with a realized loss of nearly $1.4 million.