Crypto Assets Industry Updates Overview

Industry News

The Ethereum Foundation has released a new treasury management policy, proposing the “Defipunk” framework, which aims to gradually reduce the annual spending ratio from the current level to 5% over the next 5 years to improve fiscal sustainability.

A company has completed a $18 million financing through a stock issuance, stating that it will use the net proceeds to purchase Bitcoin as part of its asset reserve strategy.

The Korean trading platform plans to launch the KRW trading pair for Ravencoin(RVN) on June 5th, while adding Lagrange(LA) to the BTC and USDT trading markets.

A global trading platform has included BIFI, FIS, KMD, and MDT in the “monitoring label” list, which may indicate that these assets are facing stricter scrutiny.

The cryptocurrency options market is about to witness the expiration of $3.8 billion in Bitcoin and Ethereum options, with call options currently dominating the market.

The stablecoin issuer Circle has completed its IPO, pricing at $31 per share, raising $1.1 billion, and the company is valued at $6.2 billion.

The encryption credit startup 3Jane has completed a $5.2 million seed round financing, led by the well-known venture capital firm Paradigm.

A certain investment institution withdrew 13,771 ETH from the trading platform in the past 12 hours, worth approximately 36.4 million USD.

Regulation and Macroeconomic Environment

The California House of Representatives passed the AB-1052 bill with a vote of 78 in favor and 0 against. This bill proposes to consider Crypto Assets with no operating records for three years as unclaimed property, but they will still be held in encryption by the state government, and users can claim them at any time. The bill has now been submitted to the California Senate for review.

The U.S. Senate confirmed the appointment of Federal Reserve Governor Michelle Bowman as Vice Chair for Supervision with a vote of 48 to 46. She will serve a four-year term and become the highest official responsible for supervision at the Federal Reserve.

The U.S. Department of the Treasury held an executive meeting of the Financial Stability Oversight Council to discuss work related to the digital asset market. During the meeting, the Chair of the SEC and the Acting Chair of the CFTC provided updates on recent actions from their respective agencies and discussed ways to promote U.S. leadership in the digital asset space.

Trump stated on social media that the debt ceiling should be completely eliminated to avoid economic disaster, pointing out that handing the debt ceiling over to politicians could have negative effects on the country and even the world.

Project Updates

The South Korean trading platform will launch Ravencoin coin trading against the Korean won and Lagrange trading pairs with BTC and USDT on June 5.

A certain derivatives trading platform plans to launch the LAUSDT perpetual contract at 17:00 Beijing time on June 5, supporting a maximum leverage of 50 times.

A trading platform announcement states that users holding more than 210 Alpha points can participate in the CUDIS token generation event.

A major exchange has listed the DeFi projects coins BIFI, FIS, KMD, and MDT under the “monitoring label”. These tokens will undergo regular evaluations, and users must complete a risk questionnaire every 90 days to continue trading.

The CAKE coin of the decentralized trading platform PancakeSwap has been included in the listing roadmap of a well-known exchange in the United States, indicating that this asset may soon be available for trading on that platform.

The Ethereum Foundation has released a new treasury management policy, setting annual operating expenses at 15% of total assets and an operational buffer period of 2.5 years. The foundation will optimize asset allocation through ETH sales and DeFi deployments, while introducing the “Defipunk” framework to promote the development of privacy, trustlessness, self-custody, and decentralized UI.

The large trading platform in the United States announced the launch of Ethena(ENA), with trading expected to start on June 6, 2025, at 00:00 Beijing time or later, depending on market liquidity conditions.

Market Data

An exchange platform withdrew 400 million USDT from the lending protocol Aave one hour ago, causing the annualized borrowing rate for USDT on the Aave platform to soar to 28.86%, while the annualized deposit rate rose to 24.65%. This large-scale movement of funds has attracted market attention, and arbitrageurs have begun depositing USDT onto the platform.

This Friday, over $3.8 billion in crypto options are set to expire, with a notional value of $3.21 billion for Bitcoin options and $624 million for Ethereum options. Currently, call options dominate the market.

Ravencoin(RVN) price broke through $0.023, rising significantly by 103.5% within 24 hours, a surge related to the news of its upcoming listing on a South Korean exchange.

Investment and Financing Trends

The Web3 hardware wallet company OneKey has received a new round of investment, with investor YZi Labs stating that it will support its global expansion. Founded in 2019, OneKey’s hardware wallet sales have grown by an average of 300% annually, and the new funds will be used for the research and development of the next generation of hardware and to enhance on-chain threat detection capabilities.

Stablecoin issuer Circle completed its IPO at a price of $31 per share, exceeding the original expected pricing range of 24-26 dollars, raising a total of $1.1 billion, and the company is valued at $6.2 billion. The USDC issued by Circle is the second-largest stablecoin in the US market.

The Web3 identity protocol Shards Protocol has completed a $2 million funding round, with investors including several well-known blockchain investment institutions. The funds will primarily be used to develop its flagship product Aura—a system that transforms users’ on-chain activities into verifiable reputation and rewards.

Crypto lending startup 3Jane has completed a $5.2 million seed round of financing and plans to build the first credit-based money market protocol, focusing on bringing unsecured lending into the digital asset space. The project is set to launch its mainnet in the third quarter of 2025, initially focusing on the US market.

The crypto exchange startup Rails has announced the completion of a $14 million funding round, bringing its total financing to $20 million. The hybrid trading platform launched by the company combines the execution speed of centralized exchanges with the asset control of on-chain custody.

NASDAQ-listed company Treasure Global has announced the launch of a $100 million digital asset fund plan, which will be used in phases to allocate blockchain native assets such as Bitcoin, Ethereum, and regulated stablecoins.