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《The New York Times》: Eric Trump, son of former President Donald Trump, hints at legal action over the potential launch of the "official TRUMP wallet"

2 days ago

On June 4th, as reported by The New York Times, Donald Trump Jr., the son of former President Donald Trump and the co-founder of WLFI, claimed that the newly launched TRUMP Wallet in the market has no connection with the Trump Organization, and WLFI will issue an official wallet. Eric Trump, Trump's second son, expressed that he was "completely unawares" of this matter. Meanwhile, Barron Trump, Trump's youngest son, took the unusual step of speaking out on social media, stating, "Our family has had no participation in this." The responses of Trump's sons to this announcement seem to expose a rift within the expanding cryptocurrency business network of the Trump family, which is a complex business system operated by multiple family members and colleagues and now appears to be in competition with each other. On one side is Bill Zanker, Trump's long-term business partner and the driving force behind this TRUMP Meme coin. On the other side are Trump's sons, who have established an independent cryptocurrency company called World Liberty Financial and have launched their own digital currency, having raised $550 million up to now. Eric Trump said that the Trump family will take legal action regarding the launch of the "official TRUMP Wallet," even though this wallet is being promoted by a social media account linked to Bill Zanker. Eric Trump stated, "There is no agreement on this product, no agreement has been made, and it is not approved." Bill Zanker did not respond to requests for comment. However, the official X account of TRUMP Meme posted a tweet late Tuesday to confirm the authenticity of the wallet release. A similar statement also appeared on the official X account of Magic Eden.

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A whale went long on the "buying the dip" after James Wynn's liquidation, facing a realized loss of $17.08 million

June 6th. As per Ashes Monitor, a whale employed a tactic referred to as "buying the dip" subsequent to a liquidation event in James Wynn's position. It managed to regain $17.08 million in profit through a liquidation cascade that took place two and a half hours earlier. The whale implemented this strategy twice following liquidation events in James Wynn's position, going long on both BTC and ETH. The approach involved leveraging the liquidation event. It opened a long position immediately after James Wynn's position was liquidated yesterday at midnight and augmented its position after James Wynn's position was liquidated and closed today at 1 a.m. However, as the price kept declining, it opted to cut its losses and close its position two and a half hours ago. This decision led to a $17.08 million loss on this specific long trade. After this profit-taking event, its profits in the past 21 days have decreased from $30 million to $13 million.

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In the past 24 hours, there have been liquidations totaling $968 million across the entire network, with over 225,000 people being liquidated.

On June 6th, based on Coinglass data, within the past 24 hours, the entire network witnessed liquidations totaling $9.68 billion. Among them, long liquidations accounted for $8.8 billion. In addition, a total of 225,990 people were liquidated globally. The largest single liquidation took place on Bitmex - XBTUSD, with an amount of $10.00 million.

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Arthur Hayes comments on Circle's IPO: In the next few years, we will see a wave of crypto IPOs, culminating in a high-profile IPO similar to EOS.

On June 6th, Arthur Hayes, the co-founder of BitMEX, posted on social media today, expressing how remarkable a day it is. The ICO craze of 2017 has transformed into the IPO mania of 2025 - 2027? This is just the inception of the madness. Eventually, it will reach a sensational IPO similar to EOS, attracting a huge amount of fiat capital and experiencing a sharp decline after listing.

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CME Bitcoin Futures Large Trader Count Reaches All-Time High, Up 36% Since Beginning of the Year

On June 6th, CME Bitcoin futures witnessed a record high of 217 large traders, showing a 36% increase compared to the beginning of the year. This indicates a notable rise in institutional investors' interest in Bitcoin. Since the start of 2024, the number of large traders has been continuously rising, suggesting that institutional Bitcoin allocation has become a consistent trend rather than opportunistic trading. (The Block)

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James Wynn went long again and lost an additional $2.9 million this time, shifting from a $87 million profit to a $20.5 million loss within two weeks.

June 6th: Based on Ember Monitor, the price of BTC dropped in the early morning. As a result, James Wynn was liquidated for 379 BTC at 1 a.m. He then voluntarily closed the remaining position. Statistics indicate that James Wynn suffered an additional loss of $2.9 million in this long position on BTC. He used a total of $3.6 million USDC as collateral. After the full liquidation, he was left with $700,000. This amount includes the $225,000 he received from two begging tweets. From making a profit of $87 million to currently having a loss of $20.5 million, James Wynn achieved this within just two weeks.

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On the first day of Circle's IPO, the price surged by 168.48%, with a trading volume exceeding 47 million USD.

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