Trump Calls on Fed to Cut Rates by 1% Directly

On June 7th, the Stacks-based DeFi protocol ALEX announced that it had been attacked. This was due to a flaw in the smart contract validation logic during the listing process, enabling the attacker to drain funds from multiple asset pools. As a result, there was a total loss of approximately $8.37 million. The specific breakdown of the losses is as follows: - A loss of 8.4 million STX (approximately $5.69 million). - A loss of 21.85 sBTC (approximately $2.24 million). - A loss of 149,850 USDC/USDT (approximately $14,980). - A loss of 2.80 WBTC/BTC (approximately $28,740). The ALEX Lab Foundation will use the treasury to fully compensate the losses of each affected user. The compensation will be paid in USDC. The compensation calculation will be based on the average on-chain exchange rate between 18:00 and 22:00 on June 6, 2025. Affected wallet addresses will receive private notifications by 7:59 on June 9, 2025, including a claims form. The claims form must be submitted by 7:59 UTC on

On June 7th, the monthly trading volume of Hyperliquid's perpetual contract reached a new record. In May, the total volume exceeded $2.48 trillion, representing a 51.5% increase compared to the previous month. In contrast, the perpetual contract volume of Hyperliquid in May 2024 was only $263 billion, achieving a year-on-year increase of 843%. Furthermore, the ratio of Hyperliquid's monthly contract trading volume to Binance, a centralized exchange, reached a historical high of 10.54%, surpassing the previous high of 9.76% in April.

On June 7th, based on information from two insiders, Pump.fun is aiming to raise $1 billion through its initial token offering and is contemplating sharing a portion of the protocol's revenue with potential token holders. It remains unclear at present how much of the protocol revenue sharing aspect will allocate income to token holders, and it is also uncertain whether this will encompass revenue generated by the decentralized exchange platform PumpSwap launched earlier this year. Pump.fun did not respond to multiple requests for comments. Sources disclosed: "Some details might be subject to adjustment, but the fundamental idea is to link token buyback to a certain proportion of platform revenue and plan to unlock tokens for participants in private and public sales during the Token Generation Event (TGE)." Sources also revealed that the PUMP token, which is targeted at both public and private investors, is expected to be fully unlocked at TGE. Although there may be additional issuances

On June 7th, Jeff Dorman, the CIO of the digital asset investment firm Arca, announced on social media that, in the pursuit of transparency, Arca has sold its holdings in Circle (CRCL). The specific details of the sell-off have not been made public. Previously, as a long-term partner of Circle, Arca only received a $135,000 allocation in Circle's IPO, which was far less than its $10 million subscription request. Jeff Dorman, the CIO of Arca, publicly stated that Circle "prioritizes traditional financial institutions" and shows "no respect" for crypto-native firms. He also announced the closure of the Circle account and a switch to alternative stablecoins such as USDT. Jeff Dorman has previously emphasized that the core concept of cryptocurrency is to benefit users, not just passive shareholders. He strongly advocated for allocating IPO shares to crypto funds that have been using USDC and Circle for nearly a decade, rather than distributing them to traditional financial funds that may

On June 7th, as monitored by Farside Investors, yesterday in Fidelity FBTC, there was a net inflow of $22.8 million. Meanwhile, for FETH, the net flow was 0.

On June 7th, based on the monitoring of LookOnChain, in the past 20 hours, a total of 6 wallet addresses have cumulatively deposited 95.36 million ENA into Binance, which is approximately worth $28.4 million. The ENA in these wallets was all received from the Ethena Proxy wallet.