News
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DRW Investments acquires nearly 4 million shares of Trump Media & Technology Group worth $100 million
According to the Financial Times, DRW Investments, an investment firm founded by American financial magnate Don Wilson, has acquired nearly 4 million shares of Trump Media & Technology Group, valued at approximately $100 million, making it one of the leading investors in Trump Media & Technology Group’s cryptocurrency ventures. However, its competitor Jane Street is the largest investor in Trump Media & Technology Group’s cryptocurrency bets, having invested around $375 million.
DRW Investments is a major institutional participant in the crypto asset sector and is also an investor in Cumberland, a prominent liquidity provider. They hope that a Trump administration would reconsider the regulatory authority over the U.S. securities industry. Previously, they have called for the establishment of a new regulatory body to replace both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. As of now, Trump Media & Technology Group has not responded to DRW Investments’ request for comment regarding the investment.
According to the Financial Times, DRW Investments, an investment firm founded by American financial magnate Don Wilson, has acquired nearly 4 million shares of Trump Media & Technology Group, valued at approximately $100 million, making it one of the leading investors in Trump Media & Technology Group’s cryptocurrency ventures. However, its competitor Jane Street is the largest investor in Trump Media & Technology Group’s cryptocurrency bets, having invested around $375 million.
DRW Investments is a major institutional participant in the crypto asset sector and is also an investor in Cumberland, a prominent liquidity provider. They hope that a Trump administration would reconsider the regulatory authority over the U.S. securities industry. Previously, they have called for the establishment of a new regulatory body to replace both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. As of now, Trump Media & Technology Group has not responded to DRW Investments’ request for comment regarding the investment.
Grayscale: ETH Remains a Core Crypto Asset, Transaction Fee Revenue May Continue to Grow
Crypto asset management giant Grayscale stated on the X platform that ETH remains a foundational asset in the cryptocurrency industry. With its leading position in applications, assets, and developer activity, Ethereum continues to generate substantial transaction fee revenue. If it achieves further scale, its annual transaction fee income is expected to grow even more.
Crypto asset management giant Grayscale stated on the X platform that ETH remains a foundational asset in the cryptocurrency industry. With its leading position in applications, assets, and developer activity, Ethereum continues to generate substantial transaction fee revenue. If it achieves further scale, its annual transaction fee income is expected to grow even more.
Coatue Founder: Bitcoin Will Become a More Central Asset in Investment Portfolios
Philippe Laffont, founder of hedge fund giant Coatue Management, stated at the New York cryptocurrency summit that although investors may have been deterred by Bitcoin’s early volatility, its volatility has decreased over time, which means the cost of investing in Bitcoin is dropping. The acceptance of Bitcoin by institutional investors is also a sign of the cryptocurrency’s maturation. In addition, the number of Bitcoin wallets that have held cryptocurrency for at least a month and then sold all their holdings has dropped significantly, indicating that investors are holding cryptocurrencies for the long term rather than trading them. Of course, at this stage, Bitcoin still accounts for only a small proportion of global net assets (about $2 trillion out of $500 trillion). If Bitcoin is to be regarded by more people as a store of value, it must become a more central asset in investment portfolios. For investors who value Bitcoin, Philippe Laffont advises not to let Bitcoin occupy too large a proportion of the portfolio to the extent that it becomes the driving factor of the entire portfolio.
Philippe Laffont, founder of hedge fund giant Coatue Management, stated at the New York cryptocurrency summit that although investors may have been deterred by Bitcoin’s early volatility, its volatility has decreased over time, which means the cost of investing in Bitcoin is dropping. The acceptance of Bitcoin by institutional investors is also a sign of the cryptocurrency’s maturation. In addition, the number of Bitcoin wallets that have held cryptocurrency for at least a month and then sold all their holdings has dropped significantly, indicating that investors are holding cryptocurrencies for the long term rather than trading them. Of course, at this stage, Bitcoin still accounts for only a small proportion of global net assets (about $2 trillion out of $500 trillion). If Bitcoin is to be regarded by more people as a store of value, it must become a more central asset in investment portfolios. For investors who value Bitcoin, Philippe Laffont advises not to let Bitcoin occupy too large a proportion of the portfolio to the extent that it becomes the driving factor of the entire portfolio.
Synthetix Plans to Shut Down Its Base Network L2 Deployment and Refocus on Ethereum Mainnet
Decentralized finance platform Synthetix has announced that it will gradually phase out all of its Layer-2 deployments on the Base network by July 7, 2025, refocusing on the Ethereum mainnet and discontinuing Base trading as well as closing the LP vault. This plan will be implemented in stages.
Synthetix stated that the decision to gradually withdraw its L2 deployments was driven by ongoing infrastructure instability and fragmented liquidity.
Decentralized finance platform Synthetix has announced that it will gradually phase out all of its Layer-2 deployments on the Base network by July 7, 2025, refocusing on the Ethereum mainnet and discontinuing Base trading as well as closing the LP vault. This plan will be implemented in stages.
Synthetix stated that the decision to gradually withdraw its L2 deployments was driven by ongoing infrastructure instability and fragmented liquidity.
SUI Falls Below $3
Market data shows that SUI has fallen below $3, currently trading at $2.99, with a 24-hour decline of 0.99%. The market is experiencing significant volatility, so please manage your risks accordingly.
Market data shows that SUI has fallen below $3, currently trading at $2.99, with a 24-hour decline of 0.99%. The market is experiencing significant volatility, so please manage your risks accordingly.
Spark: Phase One of the Ignition Airdrop Program Set to Open for Claims
According to official sources, Spark has announced that the first phase of the Ignition airdrop program will soon be open for claims, and eligibility checks have already been launched.
According to official sources, Spark has announced that the first phase of the Ignition airdrop program will soon be open for claims, and eligibility checks have already been launched.
Chen Haolian: A Second Virtual Asset Policy Statement Will Be Released This Year, Next Step Is to Explore the Integration of Traditional Finance and Virtual Assets
According to Yahoo Finance, Christopher Hui, Acting Secretary for Financial Services and the Treasury of Hong Kong, stated that a second policy statement on the development of virtual assets will be released within this year. The next step will be to explore how to combine Hong Kong’s traditional financial strengths with technological collaboration and innovation in virtual assets, leveraging virtual assets to enhance the security and flexibility of the local real economy, and encouraging both local and international enterprises to explore innovative applications of virtual assets.
According to Yahoo Finance, Christopher Hui, Acting Secretary for Financial Services and the Treasury of Hong Kong, stated that a second policy statement on the development of virtual assets will be released within this year. The next step will be to explore how to combine Hong Kong’s traditional financial strengths with technological collaboration and innovation in virtual assets, leveraging virtual assets to enhance the security and flexibility of the local real economy, and encouraging both local and international enterprises to explore innovative applications of virtual assets.
Jupiter Pro: Platform Data Display Issue Resolved, Performance Unaffected
Jupiter Pro posted on platform X stating that earlier, issues with infrastructure providers caused problems with displayed data (including charts and prices shown in the UI). The platform data is now back online, performance has not been affected, and data is being replenished in parallel. All on-chain swaps, triggered orders, and other functions are operating normally.
Jupiter Pro posted on platform X stating that earlier, issues with infrastructure providers caused problems with displayed data (including charts and prices shown in the UI). The platform data is now back online, performance has not been affected, and data is being replenished in parallel. All on-chain swaps, triggered orders, and other functions are operating normally.
Eastcompeace to Collaborate with China Telecom Research Institute and PlatON Research Institute on Stablecoin Applications
Shenzhen Stock Exchange-listed company Eastcompeace stated during an institutional survey on June 13 that global regulations for stablecoin issuers have become increasingly clear, covering areas such as compliance licensing, asset reserve transparency, risk management, and consumer protection. Leveraging blockchain, 5G, and security technologies, the company will collaborate with the China Telecom Research Institute and the Shanghai Tree-Graph Research Institute, focusing on the deployment of blockchain-based “warm” wallets (BSIM). They aim to explore the practical applications of stablecoins in payment, cross-border settlement, and digital asset sectors. (Jiemian News)
Shenzhen Stock Exchange-listed company Eastcompeace stated during an institutional survey on June 13 that global regulations for stablecoin issuers have become increasingly clear, covering areas such as compliance licensing, asset reserve transparency, risk management, and consumer protection. Leveraging blockchain, 5G, and security technologies, the company will collaborate with the China Telecom Research Institute and the Shanghai Tree-Graph Research Institute, focusing on the deployment of blockchain-based “warm” wallets (BSIM). They aim to explore the practical applications of stablecoins in payment, cross-border settlement, and digital asset sectors. (Jiemian News)
Over $266 Million in uBTC Assets Stolen from Echo Protocol, Possibly Due to Supply Chain Attack
According to an official report from Echo Protocol, its main wallet, which holds 2,515.648579 uBTC (currently valued at approximately $267 million), has experienced a security incident as a result of a sophisticated supply chain attack. The project team has initiated an investigation and will work with auditing and security teams to address the issue. A detailed post-incident analysis report will be released once all information has been gathered.
Currently, the platform's treasury collateralization rate stands at 20%. To ensure system security, the withdrawal function will be temporarily suspended starting midnight Eastern Time today. Echo Protocol stated that a bounty program will be announced soon to encourage the community to help trace the movement of funds.
According to an official report from Echo Protocol, its main wallet, which holds 2,515.648579 uBTC (currently valued at approximately $267 million), has experienced a security incident as a result of a sophisticated supply chain attack. The project team has initiated an investigation and will work with auditing and security teams to address the issue. A detailed post-incident analysis report will be released once all information has been gathered.
Currently, the platform's treasury collateralization rate stands at 20%. To ensure system security, the withdrawal function will be temporarily suspended starting midnight Eastern Time today. Echo Protocol stated that a bounty program will be announced soon to encourage the community to help trace the movement of funds.