Crypto News & Market Updates

According to Binance, Cathie Wood continues to hold a large amount of crypto-related stocks through her flagship ARKK fund amid market volatility, despite the S&P 500 index losing about $3 trillion since June 2. According to Ark Invest's latest portfolio disclosure, the fund continues to hold significant investments in cryptocurrency and digital finance companies. Despite the continued weakness in risk assets, Wood remains optimistic about Bitcoin's long-term prospects, expecting its price to reach around $730,000 by 2030, and possibly $1.5 million in a bull market. Meanwhile, Robinhood's stock rose more than 3% at the time of reporting.

According to Binance, Anthropic has proposed a new AI policy framework aimed at setting legal rules for the release of high-risk AI systems. The company hopes governments will set rules for cutting-edge models and prepare for the economic impact of AI. Its program covers hazardous deployments, independent testing, cybersecurity, and public resilience. Under its "AI Index Policy" program, Anthropic has put forward two proposals, focusing on powerful models and economic policies. The company pointed out that AI is advancing faster than existing policy-making systems, and governments need the authority to block or curb the deployment of dangerous models. The proposal also requires leading developers to conduct model testing before release and regularly publish risk reports.

According to Bijie.com, Coinbase has announced approval to offer truly global crypto perpetual contracts in the United States. After years of effort, Coinbase became the first trading platform to offer global liquidity to U.S. users. Over the years, due to the lack of clear rules in the U.S., crypto trading has gradually shifted overseas. Perpetual contracts, as a superior product, were once coveted by American traders but are not allowed in the U.S. In fact, about half of the perpetual contract trading volume comes from US users using overseas products via VPN, a fact long known within the industry as an open secret. Penalties for this are almost never enforced, which has frustrated American companies that comply with the rules. After multiple personal visits to Washington and efforts by the policy team, Coinbase was finally approved to offer truly global perpetual contracts to U.S. users. This initiative will centralize global liquidity for perpetual contracts, connecting the U.S. and international markets rather than fragmentation. Coinbase's strengths in the U.S. market will help build a global liquidity network effect, while U.S. traders can use these products in a compliant manner, providing better customer protection.

According to Bijie.com, Palantir CEO Alex Karp stated that enterprise customers are dissatisfied with the operation of the Frontier AI Lab. He pointed out that many companies question whether leading model developers understand their business needs. Karp's remarks come at a time when OpenAI and Anthropic are moving toward going public. He mentioned that Palantir's enterprise customers generally express dissatisfaction with cutting-edge labs, and these concerns are not limited to ordinary users. Karp said, "Every company that partners with Palantir" privately expresses similar concerns. He pointed out that many clients believe AI labs do not understand their business, and some labs focus too much on "tokenmaxxing," meaning excessive use of AI tokens to demonstrate productivity. Karp linked this issue to rising costs and doubts about its actual value. He emphasized that large language models are vital to the world, and their implementation will bring value over the next seven years.

Odaily Planet Daily reports, according to Axios, if Trump had accepted the terms his negotiating team agreed upon last month, he was very likely to reach a preliminary agreement with Iran by the end of May. But after the White House Situation Room meeting on May 29, Trump decided to make two additional amendments to Iran, including: Iran must begin diluting its enriched uranium stockpiles within 60 days; Iran has pledged not to charge any passage fees to ships passing through the Strait of Hormuz. In exchange, Trump was willing to accept enriched uranium diluted within Iran under the supervision of the International Atomic Energy Agency (IAEA). According to sources and U.S. officials, Iranian Foreign Minister Alagazi told the mediators and the U.S. that he needed four to five days to receive a response, but this ultimately escalated into nearly two weeks of waiting. During this period, Trump grew increasingly frustrated by media reports on the promised agreements that had yet to be fulfilled, sometimes even with mocking tone. At the same time, U.S. hardliners toward Iran have also criticized him for being too weak toward Iran. Worse still, Iran has publicly and privately expressed its desire to first unfreeze some of its frozen assets, while Trump insists that the agreement obligations must be fulfilled first. (Jin Shi)

Odaily Planet Daily reported that U.S. President Trump said on the 10th that the U.S. military has "secretly" helped more than 200 merchant ships pass through the Strait of Hormuz. On the same day, Trump posted on social media that he had ordered the U.S. military last month to carry out a secret mission to support oil tankers and other merchant vessels passing through the Strait of Hormuz. Currently, this operation has enabled "over 100 million barrels of oil to pass through the strait smoothly and enter the open market, with more than 200 merchant vessels safely passing through." He also stated that the Strait of Hormuz is controlled "by the United States, not Iran." In early May, the U.S. military launched the "Freedom Program" seeking to channel stranded ships through the Strait of Hormuz, but Trump soon announced a pause in this operation. According to U.S. media reports, the operation did not coordinate in advance with Gulf allies, causing dissatisfaction among Saudi Arabia and refusing to allow U.S. forces to use Saudi bases and airspace. Since then, Trump has repeatedly claimed that he may resume the "Freedom Project" operation. On May 31, The New York Times quoted anonymous U.S. officials saying that over the past three weeks, the U.S. military has "quietly" guided about 70 merchant ships through the Strait of Hormuz. (Jin Shi)

According to Bijie.com, the U.S. Department of Energy said on Wednesday local time that the U.S. is seeking to lend up to 40 million barrels of the Strategic Petroleum Reserve (SPR) to energy companies to help lower fuel prices. This plan is part of the previous agreement to release 172 million barrels of SPR. So far, the U.S. has lent about 133 million barrels of crude oil under this agreement. In March this year, after the U.S. and Israel launched a war against Iran on February 28, the U.S. and about 30 member countries of the International Energy Agency reached an agreement to jointly release approximately 400 million barrels of strategic reserves to help stabilize the international oil market. Currently, U.S. SPR inventories stand at 349.2 million barrels, the lowest level since August 2023. Companies borrowing crude oil must return the same amount of crude oil and pay a premium of up to 24% in the form of additional crude oil.

According to ChainCatcher, Solana infrastructure company Helius announced the acquisition of Light Protocol, whose team will refocus on developing Solana privacy solutions. Light Protocol was founded in 2021, initially focusing on Solana privacy tools based on zero-knowledge proofs, but later shifted to co-developing ZK Compression with Helius. Launched in 2024, this solution aims to reduce Solana's on-chain data storage costs through zero-knowledge proofs, supporting large-scale consumer and enterprise applications. This acquisition will drive Light back to its original mission, combining its cryptographic capabilities with Helius's infrastructure and distribution advantages to develop a ZK privacy protocol for Solana, covering scenarios such as private payments and private DeFi. Helius plans to open related privacy infrastructure to developers in the coming months. This transaction occurred against the backdrop of accelerated consolidation in the crypto industry and tightening financing environment, while also echoing the rebound in on-chain privacy demand. Helius founder Mert Mumtaz stated that privacy will become a crucial foundation for blockchain scaling, just like HTTPS is to the internet.

Odaily Planet Daily reports that Anthropic CEO Dario Amodei stated that if new AI models carry specific risks, governments should have the authority to block their deployment. On Wednesday, Amodeii published a lengthy article advocating that AI models should undergo mandatory third-party testing to assess the risks they may pose across multiple domains. He wrote that if AI is identified as "posing an unacceptable risk," then "the government should have the power to block or contain its deployment." This is one of Amodei's toughest statements to date regarding tightened AI regulation. Amodei wrote: "I think, at least at this exponential stage of development, the most appropriate analogies are cars, airplanes, or pharmaceuticals—technologies essential to the modern economy, but if designed or used improperly, they can also lead to massive casualties." "Anthropic had previously warned the public that its AI model Mythos has the capability to discover and exploit critical software vulnerabilities, so the company decided to make the model available to only a select few partners. This week, Anthropic released a new version that removes related cybersecurity attack capabilities. (Jin Shi)