PA Daily | Hong Kong's "Stablecoin Ordinance" has officially become law, and the licensing system is expected to be implemented this year; Binance Alpha has launched TAIKO, and you can apply for 130 T

Today's news tips:

1. Hong Kong's "Stablecoin Ordinance" officially becomes law, and the licensing system is expected to be implemented within the year

2. Trump Media Group completes $2.44 billion in financing and will become a major Bitcoin holder among listed companies

3.SharpLink Gaming plans to raise $1 billion to buy ETH

4. Coinbase International will launch Vaulta perpetual contracts, and trading will start on June 5

5. Cetus plans to complete full recovery and restart in about a week

6. Binance Alpha has launched TAIKO. You can claim 130 TAIKO airdrops when your points reach 205

7. James Wynn closed his long positions in PEPE and BTC, with a cumulative loss of $2.271 million

8. The whale made a mistake in buying high and selling low, and 35,754 ETH shrunk to 19,302, with a loss of 42.64 million US dollars

Regulatory/Macro

Canary Staked CRO ETF Files S-1 Form for Listing

Canary Staked CRO ETF has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) and plans to be listed on the exchange. The ETF aims to gain exposure to the CRO price by holding Cronos (CRO) and participating in transaction verification on the Cronos POS chain, while earning additional CRO income. The ETF's net asset value (NAV) will be calculated based on the market price of CRO.

Hong Kong's Stablecoin Ordinance officially becomes law, and the licensing system is expected to be implemented within the year

The Hong Kong Stablecoin Ordinance was officially gazetted on May 30, marking its formal entry into law and is expected to take effect this year. The ordinance establishes a licensing system for issuers of "legal stablecoins", allowing only licensed institutions to issue or sell stablecoins anchored to the value of the Hong Kong dollar in Hong Kong, aiming to strengthen protection for the public and investors. The Hong Kong Monetary Authority stated that the ordinance has established a risk-based, pragmatic and flexible regulatory mechanism to provide institutional support for the healthy and sustainable development of stablecoins and digital assets. The ordinance clearly stipulates that applicants must meet compliance requirements such as reserve asset management, value stabilization mechanism, redemption arrangements, and anti-money laundering.

The annual rate of core PCE in April was 2.5%, the lowest in more than four years

The U.S. core PCE price index in April recorded an annual rate of 2.5%, a new low since March 2021, and the market expected 2.5%. The U.S. core PCE price index in April was 0.1% on a monthly basis, and the expected rate was 0.10%. The previous value was revised from 0.00% to 0.1%. Traders are still betting that the Federal Reserve will cut interest rates in September.

Brazilian listed company Meliuz plans to raise $26.45 million to buy Bitcoin

According to Bitcoin Magazine, Brazilian listed company Meliuz has submitted an application to raise $26.45 million to purchase Bitcoin.

Trump Media Group completes $2.44 billion in financing and will become a major Bitcoin holder among listed companies

Trump Media Group announced today that it has completed its previously announced private placement with approximately 50 institutional investors. The offering includes: ① the sale of 55,857,181 shares of the company's common stock at a price of $25.72 per share, raising approximately $1.44 billion in gross proceeds; ② the issuance of convertible senior secured notes with a principal amount of $1 billion and due in 2028, with a conversion price of $34.72 per share. The two items raised a total of approximately $2.44 billion. Trump Media will use approximately $2.32 billion of net proceeds to establish a Bitcoin reserve and for other general corporate purposes and working capital. As one of the largest Bitcoin reserve transactions among public companies, the net proceeds of this offering and the company's strategy will make Trump Media Group one of the companies with the largest Bitcoin holdings among U.S. public companies. After this offering, Bitcoin will be included in the balance sheet of Trump Media Group, alongside cash, cash equivalents and short-term investments totaling $759 million as of the end of the first quarter of 2025.

Czech Justice Minister resigns after selling 480 bitcoins given by criminals

Czech Justice Minister Pavel Blažek announced his resignation on May 30 after his ministry sold 480 bitcoins (worth about $45 million) donated by a drug trafficker. After receiving the bitcoins, the ministry immediately cashed out the money and used the proceeds for a victim compensation fund and prison equipment. The donation has prompted opposition lawmakers to question the legitimacy of accepting assets donated by former criminals. In addition, the police have launched an investigation into the source of the bitcoins and the specific circumstances of the ministry's acceptance of them.

A few hours after the investigation began, Pavel Blažek decided to resign from his term, which began in December 2021. "In agreement with Prime Minister Peter Fiala, I have decided to resign as Minister of Justice. I have not done anything illegal. However, I do not want to damage the reputation of the government or the ruling coalition," he said in a post on May 30.

The donation was made in Bitcoin by drug trafficking criminal Tomasz Jizhikovsky, who was arrested in 2016 for running an illegal online drug and pharmaceutical marketplace and later served a four-year prison sentence for embezzlement and drug trafficking.

SharpLink Gaming plans to raise $1 billion to buy ETH

SharpLink Gaming has submitted a Form S-3 ASR to the U.S. SEC to register securities with a total size of no more than $1 billion for the future issuance of common stock subject to market conditions. After this issuance, the number of common shares issued can reach up to 72,051,288 shares. Most of the proceeds from this issuance will be used to purchase Ether (ETH), the native cryptocurrency of the Ethereum blockchain. It is also planned to use the proceeds from this issuance for working capital needs, general corporate purposes, operating expenses, etc.

Earlier news , SharpLink Gaming announced that it would complete a private placement financing of approximately US$425 million, with Consensys as the lead investor, and the transaction is expected to be completed on May 29. The financing funds will be used to purchase Ethereum (ETH) and establish ETH as the company's main reserve asset.

Viewpoint

New York City Comptroller opposes mayor’s proposed Bitcoin bond plan and says he will not approve issuance during his term

New York City Comptroller Brad Lander has refuted Mayor Eric Adams' proposal to issue Bitcoin-backed municipal bonds. Brad Lander, who is in charge of bond issuance along with the Mayor's Office of Management and Budget, said the City will not issue Bitcoin-backed bonds during his term. "Cryptocurrencies are not stable enough to fund our city's infrastructure, affordable housing, or schools." "Proposing that the City open its capital planning to cryptocurrencies could expose our City to new risks and undermine the trust that bond buyers have in our City." Brad Lander is a Democrat and the successor to Mayor Eric Adams in the November election. Eric Adams is currently running as an independent candidate.

James Wynn: I will start over again as always and have fun doing it

James Wynn tweeted: "I'm starting over, just like I always have, and I'm having fun. I love playing this game, I love the volatility, money is all about mindset. I made a well-planned gamble and made billions of dollars, most of you dare not and will never be able to make such a bet, you are not capable enough and lack the mindset. Money can't make you feel rich, peace, happiness, family, love, loyalty, health, nature, sunshine, dogs can, and I have all of these firmly in my hands. My monthly passive income is more than most people make in a year. I am freer now than ever before."

Project News

Binance: You need to hold at least 207 Alpha Points to receive 133 ASRR airdrops

According to Binance’s announcement, the platform will launch the Assisterr AI (ASRR) trading pair at 21:00 Beijing time on May 30, 2025. Qualified users holding at least 207 Alpha Points can claim 133 ASRR airdrops on the Alpha Events page from the same time. Claiming will consume 15 Alpha Points, and users must complete confirmation within 24 hours, otherwise it will be deemed to be automatically waived.

Coinbase International will launch Vaulta perpetual contracts, opening trading on June 5

According to the announcement of Coinbase International Exchange, Vaulta ($A) perpetual contract trading will be launched at 9:30 (UTC) on June 5, 2025, and supporting platforms include Coinbase International Exchange and Coinbase Advanced.

REX Shares and Osprey Funds submit applications to the US SEC to launch Ethereum and Solana staking ETFs

REX Shares and Osprey Funds have filed applications with the U.S. Securities and Exchange Commission (SEC) to launch Ethereum and Solana collateralized ETFs. The new ETH and SOL funds will invest "at least 80% of their net assets in their respective reference assets," namely ETH and SOL. Each fund will also invest "at least 50% of its holdings" in these cryptocurrencies. These funds will operate as "regular C corporations" to deal with U.S. federal income taxes, rather than as "regulated investment companies" like spot Bitcoin and Ethereum ETFs.

Litecoin launches L2 network LitVM, introducing smart contract functions and cross-chain liquidity

Lunar Digital Assets launches Litecoin ecosystem zero-knowledge L2 network LitVM. The network is built on BitcoinOS and Polygon CDK and is supported by the Litecoin Foundation. LitVM is an EVM-compatible zero-knowledge rollup (ZK Rollup) that aims to introduce smart contract functionality, cross-chain liquidity, and real-world asset (RWA) support. LitVM will help Litecoin expand to the DeFi and Web3 ecosystems, providing on-chain use cases such as stablecoin payments and programmable assets (Runes, Lordinals).

Cetus plans to complete full recovery and restart in about a week

The Sui community recently approved an on-chain proposal that will release approximately $162 million seized during the Cetus vulnerability last week, allowing the DEX to repay users and resume full operations. The affected funds will be transferred to a multi-signature wallet and held in custody until they are returned to users according to a Cetus-led plan. In response, Cetus announced plans to complete a full recovery and restart in about a week, including data recovery, restarting the upgraded CLMM contract, and fully restoring all suspended product functions (including LP functions).

Binance Alpha has launched TAIKO. You can claim 130 TAIKO airdrops with 205 points

According to the official announcement, Taiko (TAIKO) is now available on Binance Alpha. Eligible Binance users with at least 205 Binance Alpha points can claim an airdrop of 130 TAIKO tokens on the Alpha event page starting at 14:00 (UTC+8) on May 31. Claiming the TAIKO airdrop will consume 15 Binance Alpha points.

Important data

Bitcoin spot ETFs had a net outflow of $616 million yesterday, and none of the 12 ETFs had a net inflow

Ethereum spot ETF had a net inflow of $70.2402 million yesterday, continuing its net inflow for 10 consecutive days

James Wynn, a major investor on the blockchain, once again went long on BTC and PEPE

According to Embers tracking, James Wynn, a major on-chain investor, has just collected 344.7 ETH (about 900,000 US dollars) through multiple addresses and transferred it to Binance, and exchanged it for 500,000 US dollars in USDC, and then transferred it to the Hyperliquid platform to open a long position in Bitcoin.

The current positions are as follows:

• BTC long order: 437 BTC, leverage 40x, total market value of approximately 46.1 million USD, opening price $105,560, liquidation price $102,713;
• kPEPE long order: 1.01 billion kPEPE, leverage 10 times, total market value of approximately 13.02 million US dollars, opening price $0.0129, liquidation price $0.0116.

The whale made a mistake in selling low and buying high, and 35,754 ETH shrunk to 19,302, with a loss of 42.64 million US dollars

According to Ember, a whale suffered serious losses in ETH operations: on April 23, the whale sold a total of 50,754 ETH at a price of $1,754 in exchange for $89.03 million USDT, of which 15,000 were shorted with borrowed coins; today, he used the same USDT to buy back only 34,343 ETH at a price of $2,592, leaving a net of 19,302 ETH after returning the borrowed coins.

Based on the current price, its ETH holdings have shrunk to US$50.04 million, a decrease of US$42.64 million from the original value of US$92.69 million, a loss of approximately 16,452 ETH.

James Wynn closed his long positions in PEPE and BTC, with a cumulative loss of $2.271 million

James Wynn closed all his PEPE and BTC positions, with a cumulative loss of $2.271 million, including a loss of $1.175 million on BTC long orders and a loss of $1.596 million on PEPE long orders. Currently, there is still $464,000 in margin in the contract account.