Circle raises IPO price, SharpLink completes $425 million financing

Headline

▌Circle has raised the size and pricing range of its IPO

According to Bloomberg, Circle Internet Group Inc. and its shareholders have raised the size and pricing range of the company's initial public offering (IPO), showing strong investor demand for the stock. According to documents filed with the U.S. Securities and Exchange Commission (SEC) on Monday, the company and some existing shareholders currently plan to issue 32 million shares at a price range of $27 to $28 per share. Previously, Circle and its selling shareholders planned to issue 24 million shares at a price range of $24 to $26 per share.
▌SharpLink Gaming Completes $425 Million Private Funding, Led by Consensys

According to official news, SharpLink Gaming has completed $425 million in private financing, led by Consensys, and SharpLink intends to use the proceeds to purchase ETH and use it as its main treasury reserve asset.

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Market

As of press time, according to Coingecko data:

BTC price is $105,804, up or down +0.1% in 24 hours;
ETH price is $2,607.45, up or down +2.1% in 24 hours;
BNB price is $665.39, up or down +0.6% in 24 hours;

SOL price is $156.18, up or down -0.4%；
DOGE price is $0.1956, 24-hour increase or decrease+0.8%；
XRP price is $2.2, 24-hour increase or decrease+0.8%。

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Policy

▌The U.S. SEC solicits feedback on the physical creation and redemption of the WisdomTree Bitcoin Fund

The U.S. Securities and Exchange Commission (SEC) is seeking feedback to decide whether to amend the rules to allow the WisdomTree Bitcoin Fund to conduct physical creation and redemption. According to the agency's release, regarding the WisdomTree Bitcoin Fund, the SEC invites individuals to submit written data, opinions or arguments within 21 days to decide whether the rule change should be approved or opposed. The WisdomeTree Bitcoin Fund (BTCW) is a spot Bitcoin exchange-traded fund (ETF) that was originally approved in January 2024. In-kind redemption enables investors to redeem their shares in the fund using the underlying asset (in this case, Bitcoin) instead of cash.

▌FOX reporter: The U.S. Senate may vote on the GENIUS Act this week

FOX Business reporter Eleanor Terrett said that as negotiations on the amendment heat up, the U.S. Senate is preparing for a potential vote on the GENIUS Act. A new poll has increased pressure on U.S. lawmakers to act as soon as possible. The U.S. Senate will resume work on Monday with a vote on a Trump nominee for the Department of Defense at 5:30 p.m. ET, but the real focus is behind the scenes: lawmakers are pushing the bipartisan GENIUS Act (a stablecoin legislation) in the U.S., which Republican leaders hope will pass the Senate this week. According to people familiar with the matter, the bill's sponsors are working to reach a "unanimous consent agreement" to quickly vote on a series of amendments without having to initiate a full procedural voting process (cloture).

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Blockchain Applications

▌Ethereum Foundation Reorganizes Core R&D Team, Focuses on Three Strategic Goals and Renames to "Protocol"

The Ethereum Foundation announced on June 2 that it has reorganized its core protocol development team and officially launched the new name "Protocol". The organization will work around three strategic goals: expanding the main network (L1), improving data scalability (Blob expansion), and improving user experience (UX). The reorganization involves adjustments to the team structure, clear leadership responsibilities, and indicates that some members will leave the foundation. The foundation emphasized that this move is aimed at accelerating the development of zkEVM and Layer 2, making Ethereum more scalable, verifiable and censorship-resistant, in order to realize the vision of a "world computer" on a global scale.

▌Consensys acquires wallet infrastructure provider Web3Auth, the specific amount has not been disclosed

Blockchain software development company Consensys announced the acquisition of wallet infrastructure provider Web3Auth, the transaction amount was not disclosed. The acquisition aims to enhance the user experience of its wallet MetaMask. Consensys said that this move is specifically to solve "one of the biggest risks" in the self-custody process-the problem of mnemonic management. According to data, about 35% of users do not back up their mnemonics, resulting in the risk of losing their funds. By integrating Web3Auth, MetaMask users will be able to use familiar Web2 login methods (such as social accounts and device authentication) to create and restore wallets, without manually backing up mnemonics, thereby reducing the risk of losing funds.

▌Robinhood Completes Acquisition of Cryptocurrency Exchange Bitstamp for $200 Million

Robinhood Markets, Inc. has completed the $200 million acquisition of Luxembourg cryptocurrency exchange Bitstamp. The acquisition adds more than 50 licenses and registrations to its cryptocurrency division and brings a mature institutional client base. Robinhood said on June 2 that the transaction price remains $200 million, consistent with the preliminary agreement in June 2024, and is paid entirely in cash. Bitstamp serves more than 5,000 institutional clients and 50,000 retail investors, with the majority of its trading volume coming from institutional clients.

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Cryptocurrency

▌Strategy intends to issue 2.5 million shares of "Stride" preferred stock to fund its Bitcoin strategy

Strategy, the largest corporate holder of Bitcoin, said it intends to sell 2.5 million shares of perpetual preferred stock called Stride (STRD) as part of its ongoing efforts to hoard Bitcoin. "Strategy plans to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital," Strategy said in a statement. The company said the offering is 2,500,000 shares of Strategy 10% Series A Perpetual Stride Preferred Stock. Strategy added that the offering is for "institutional investors and certain non-institutional investors." The company also recently issued other preferred shares to the public, called Strike (STRK) and Strife (STRF), in addition to plans to raise $84 billion (50/50 equity and debt) for future bitcoin purchases. STRK and STRF are convertible preferred shares. Strategy said on Monday that after the latest acquisition, its total bitcoin holdings have exceeded 580,955, worth more than $60 billion.

▌Arthur Hayes: James Wynn, the giant whale, is likely to conduct hedging transactions in an anonymous address

BitMEX co-founder Arthur Hayes posted on the social platform, "I am beginning to think that this (referring to the giant whale James Wynn's attempt to raise funds at 0 cost) may become one of the most successful trading platform marketing activities in the history of the crypto circle. HYPE will definitely win. In addition, this guy is likely to conduct hedging transactions in another anonymous address, specifically to grab the next round of Hyperliquid airdrops."

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Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged in June is 95.3%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in June is 95.3%, and the probability of a 25 basis point rate cut is 4.7%. The probability of the Federal Reserve keeping interest rates unchanged in July is 75.6%, the probability of a cumulative 25 basis point rate cut is 23.4%, and the probability of a cumulative 50 basis point rate cut is 1.0%.

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Golden Encyclopedia

▌What are Ethereum Futures ETFs and how do they work?

Ethereum Futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself.

Consider a contract that promises to buy Ethereum at a specific price at a certain time in the future. These derivative contracts are traded through Ethereum (ETH) Futures Exchange Traded Funds (ETFs), providing a regulated way to invest in Ethereum using a brokerage account.

Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for informational reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to enhance risk awareness.