pump.fun suspected of being attacked by flash loans Reddit and OpenAI announced cooperation

Headlines

▌pump.fun suspected of being attacked by flash loans

Solana chain token launcher pump.fun suspected of being attacked by flash loans, attackers can participate in the meme coins released by the platform indefinitely through loopholes. As of press time, Phantom Wallet has temporarily blocked the official website of the pump.fun project. Bonkbot said that for the sake of caution, transactions on Pump.fun are temporarily banned to ensure the safety of users.

▌Reddit and OpenAI announced a partnership

Reddit and OpenAI announced a partnership to introduce Reddit content into ChatGPT and other OpenAI products.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $65293.02, with a daily increase or decrease of -1.6%;

ETH's latest transaction price is $2943.00, with a daily increase or decrease of -3.0%;

BNB's latest transaction price is $569.15, with a daily increase or decrease of -2.5%;

SOL's latest transaction price is $159.54, with a daily increase or decrease of +0.0%；

DOGE's latest transaction price is $0.1499, with a daily increase or decrease of -4.3%；

XPR's latest transaction price is $0.5162, with a daily increase or decrease of -0.5%。

Policy

▌The U.S. Senate voted to overturn the SEC's controversial crypto-asset accounting regulations

According to the U.S. Senate's official website, the Senate voted 60 to 38 to overturn the U.S. SEC's controversial crypto-asset accounting regulations. The SEC's previously issued Staff Accounting Bulletin 121 (SAB 121) requires companies to record their crypto assets on their balance sheets, but critics believe that this regulation is too strict and actually prevents major custodians and companies from holding crypto assets for their customers.

▌The U.S. Treasury Department intends to strengthen money laundering supervision for cryptocurrencies and other illegal finance

The U.S. Treasury Department released its 2024 National Strategy for Combating Terrorism and Other Illegal Financing on Thursday, outlining priorities for combating illegal financing. The Treasury Department highlighted its ongoing work around cryptocurrencies, including sanctions on certain trading platforms and groups such as Bitzlato and Lazarus, a settlement with Binance, and warnings against pig-killing scams. The report pointed out that the four priorities of the U.S. Treasury Department are to narrow gaps in anti-money laundering regulations, support more effective and risk-centric frameworks, improve the efficiency of law enforcement agencies, and leverage technological innovation. Updating the existing cryptocurrency regulatory framework will support these priorities.

▌U.S. Congressman Thomas Massie Introduces Bill to Abolish the Federal Reserve

U.S. Congressman Thomas Massie Introduces Bill to Abolish the Federal Reserve.

▌French Securities Regulator Issues New Warning on Bybit

The French securities regulator has issued a new warning to cryptocurrency exchange Bybit, urging customers to make arrangements for the possibility that the platform may suddenly stop providing services to French customers. The Financial Markets Authority (AMF) said in a notice on Thursday that the exchange is not registered as a digital asset service provider (DASP) and is therefore illegally providing services in France. Bybit has been blacklisted by the AMF since May 20, 2022 for illegal operations.

Blockchain Applications

▌FLock.io merges decentralized AI training with Morpheus smart agents

The "AI co-creation" platform FLock.io and the network that powers smart agents Morpheus announced a strategic partnership to advance decentralized AI capabilities in Web3. The team said that by merging FLock.io's community-driven, decentralized AI training model platform with Morpheus, enabling smart agent builders to deploy their code and receive rewards, the partners aim to reduce reliance on OpenAI's centralized external function calls and integrate more smart agents into Web3 wallets. Ultimately, this integration will enable users to leverage artificial intelligence directly from their wallets for a seamless, secure and intuitive trading experience.

▌Bitcoin L2 network Stacks community expects two major upgrades

Bitcoin L2 network Stacks said on the X platform that Bitcoin L2 is the first theme in 2024. As Bitcoin L2 matures, the Stacks community expects two major upgrades.

▌DTCC completes pilot with Chainlink and several major U.S. financial institutions to accelerate fund tokenization

According to a report released on Thursday, the world's largest securities settlement system, the Depository Trust and Clearing Corporation (DTCC), completed a pilot project with blockchain oracle Chainlink (LINK) and several major U.S. financial institutions to help accelerate fund tokenization. The purpose of the Smart NAV project is to establish a standardized process to introduce and disseminate fund net asset value (NAV) data on almost any private or public blockchain using Chainlink's interoperability protocol CCIP. Market participants include American Century Investments, Bank of New York Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan Chase, MFS Investment Management, Mid-Atlantic Trust, State Street and U.S. Bancorp.

Cryptocurrency

▌Bitcoin's 90-day correlation with U.S. stocks rose to 0.17 last week

The data shows that Bitcoin's 90-day correlation with U.S. stocks rose to 0.17 last week, up from a multi-year low of 0.01 recorded in March. Despite this, Bitcoin's correlation with risk assets remains well below the bull market highs of more than 0.6.

▌US mining company CleanSpark purchased a mine near a missile base in Wyoming

US Bitcoin mining company CleanSpark purchased a mine near a US missile base in Wyoming from a company related to Chinese investors.  

Previously reported, Biden banned crypto mining companies supported by Chinese investors from owning land near US missile bases.

▌Coinbase shares fell 9% due to the news that CME was considering listing spot Bitcoin

Coinbase shares fell 9% to $202.49 due to the news that CME was considering listing spot Bitcoin. The stock was the second worst performing stock among cryptocurrency stocks on Thursday.  

Previously reported, CME CME plans to launch spot Bitcoin trading.

▌pump.fun: The contract is safe, and a former employee misappropriated about 12,300 SOL

pump.fun posted on the X platform that the pump.fun contract is safe, and a former employee misappropriated about 12,300 SOL (about 1.9 million US dollars). Pump.fun is now back online.  

Users can issue new coins and trade any coins that have not reached 100% between 15:21-17:00 UTC time. Any token that reaches 100% between 15:21-17:00 UTC time will be listed on Raydium, and the transaction fee will be 0% in the next 7 days.

▌AntPool and Foundry USA control more than 50% of Bitcoin hashrate

According to analyst Kadan Stadelmann, large miners are posing an increasing threat to Bitcoin. As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin hashrate, which could become a threat to Bitcoin in the near future.

Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged in June is 91.3%

According to CME's "Fed Watch", the probability of the Federal Reserve keeping interest rates unchanged in June is 91.3%, and the probability of a 25 basis point rate cut is 8.7%. The probability that the Fed will keep interest rates unchanged by August is 68.6%, the probability of a cumulative 25 basis point rate cut is 29.2%, and the probability of a cumulative 50 basis point rate cut is 2.2%.

▌Fed Bostic: It may be appropriate to cut interest rates before the end of the year

Fed Bostic said that it may be appropriate to cut interest rates before the end of the year, but we do not have any definite plans; inflation is expected to decline slowly and economic momentum will continue; the economy may evolve in different ways, and we will adjust as needed.

▌Fed Mester: Interest rates should remain high for a longer time

Fed Mester said that short-term inflation expectations have risen; interest rates should remain high for a longer time; it is too early to conclude that the process of inflation retreat has stagnated; data show that the risks to the Fed's inflation target have increased; more price data need to be collected in the "coming months"; recent data show that the risks to the job market have weakened; it will take longer to be sure that inflation is falling back toward 2%.

Golden Encyclopedia

▌What is Ethereum Futures ETF?

Ethereum Futures ETF is an investment fund that tracks Ethereum futures contracts rather than Ethereum itself. Without actually holding the cryptocurrency, investors can use Ethereum Futures ETFs to speculate on the future price of Ethereum. Instead of holding tangible assets, Ethereum Futures ETFs invest in futures contracts. These contracts are promises to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can buy these contracts through ETFs, thereby being exposed to Ethereum price fluctuations, and ETFs simply raise investors' funds to buy them.

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