self

According to BBX data, Bitcoin fell to a new low of $61,300 this year yesterday, putting pressure on the cryptocurrency sector. Key signals have emerged from institutions and the legislative level, with the core dynamics as follows:Michael Saylor, founder of Strategy, Inc. (NASDAQ: $MSTR), publicly stated on June 4 that the current decline in Bitcoin is not due to a deterioration in BTC fundamentals, but rather a "phase rotation" of capital from Bitcoin to AI stocks, SpaceX IPO, and other emerging assets—"Bitcoin is not broken; it’s just temporarily not the main character in the momentum trade." Saylor also reiterated his position of continued accumulation. Previously, Strategy spent approximately $2.01 billion (average price $80,985) to acquire 24,869 BTC in the week from May 11 to 17, bringing their total holdings to 843,738 BTC with a total cost of about $63.87 billion (average price $75,700); currently, BTC has fallen below the cost line of $12,300, and all of the company's holdings are in a state of unrealized loss, but management has not publicly indicated any intention to reduce their positions.JPMorgan Chase & Co. (NYSE: $JPM) reported by CoinDesk on June 4 warned in its latest research report that the legislative time window for the CLARITY Act to be voted on by the full Senate is "rapidly narrowing." The wording discrepancies in the stablecoin yield provisions have evolved into the most critical unresolved obstacle for the bill—banks insist on retaining restrictions on "passive income," while the cryptocurrency industry strives for "activity incentive space." If a compromise cannot be reached between the two parties within this month, the timeline for the Senate to complete a 60-vote approval before July 4 will be completely invalidated; the report also pointed out that the capital siphoning effect from the SpaceX IPO and AI stocks has further suppressed institutions' willingness to allocate to BTC in the short term.

Strategy founder Michael Saylor stated that the capital markets are providing funding for AI infrastructure on an unprecedented scale, with approximately $400 billion raised in the past six months. Saylor pointed out that since May 14, there has been about $4 billion in outflows from Bitcoin ETFs, putting pressure on BTC prices. However, he believes this is a rotation of capital rather than damage to Bitcoin itself. Saylor stated, "Volatility creates opportunity."

Regarding the incident "DxSale accused of using a backdoor to withdraw $7.3 million in liquidity funds," the security company GoPlus stated that the attack may have been an inside job, and there is still $15.5 million in funds and LP urgently needing rescue. GoPlus recommends that the project team immediately check whether their project LP is locked in the contracts 0xEb3a9C56, 0x81E0eF68, 0x2D045410, 0x5b5e9448, and if so, take immediate measures to withdraw. Since the initial funding source was Bybit, KYC tracing is recommended; the final withdrawal channels are multiple Binance addresses, and it is suggested that the relevant security teams submit on-chain evidence to apply for freezing the attacker's address.GoPlus calls on the project to strengthen security mechanisms, stating that critical admin functions must have a time lock, and Owner permissions must use multi-signature. GoPlus emphasizes that as of now, DxSale has not issued any public incident response statement, and its silence is also worth noting.

According to The Block, the self-trading platform Hypernova built on Hyperliquid has completed a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, and Pivot Global. Several angel investors from the Hyperliquid ecosystem also participated in this funding round.The platform automates trader payments using smart contracts, aiming to address issues such as the lack of transparency in payment processes and profitable traders becoming liabilities for traditional proprietary trading firms. Hypernova can dynamically decide whether to push positions to the market based on the quality of traders. The platform is currently in a closed alpha phase and plans to publicly launch within the next two months.

In response to the pain points of trading US stock tokens on crypto platforms, Xie Jiayin recently expressed his views, stating that after Bitget entered UEX in the third quarter of last year, its market share of US stock tokens once reached 90%. However, the early products had shortcomings in liquidity, dividend distribution, and stock split experience.To address this, Bitget is about to launch its self-developed product Reality, aimed at solving the above issues. According to the introduction, this product has the following three major features:Direct connection to broker liquidity: Provides a trading experience with no price difference and high liquidity;Supports dividend distribution: Dividends can be directly distributed to user accounts;Enhances capital utilization: US stock tokens can be used as margin and support participation in strategy trading and lending wealth management, etc.In addition, Xie Jiayin revealed that rToken will officially launch on Bitget in early June.

Polkadot posted on X that OpenGov is voting on significant changes to the network staking architecture. Referendum 1890 proposes that validators on Polkadot must lock at least 10,000 DOT as self-staking.This reform is a mandatory prerequisite for the next phase of staking upgrades, which include immunity from slashing for nominators and quick unbonding (approximately 24-48 hours instead of 28 days). The logic is to allow validators to absorb slashing risks directly through significant self-staking exposure, while nominators can continue to earn staking rewards without exposing their principal. If passed, Polkadot staking will eliminate two major barriers to participation, thereby reducing the risk for nominators and shortening exit times.

Paradigm officially announced the open-sourcing of Centaur, a self-hosted AI Agent Runtime developed jointly by Paradigm and Tempo that supports multi-user collaboration and secure operation. Paradigm stated that since January of this year, the fund has been using Centaur internally, which has completely transformed the way the team works, covering various task scenarios such as investment, engineering, design, recruitment, events, and customer service.Centaur can be understood as a "shared Agent" that can call tools, run continuously for hours or even days, continue working after a system restart, and perform operations using real credentials without ever touching the raw secrets. Users can communicate with it via Slack or call it through an API.

Cointelegraph posted on the X platform that the governor of South Carolina has signed Bill S.163. The bill protects the self-custody rights of Bitcoin, prohibits discriminatory taxes on Bitcoin, and safeguards the rights of proof-of-work mining in the state.

Anatoly Yakovenko (toly), co-founder of Solana Labs, responded to discussions about the decentralization level of Hyperliquid, stating that he has raised the same criticism for all L2s: the key to determining whether a system is permissionless lies in whether users can participate in any part of the protocol stack using their own resources without approval from a trusted third party.If they cannot, it is not permissionless. Toly stated that no matter what users do, they cannot run the Base sequencer or the Hyperliquid sequencer, so this is the same issue he criticized with L2s.

Aave DAO has initiated a governance proposal to establish a dedicated Bitcoin Spoke driven by the Babylon protocol in Aave V4, allowing users to use native BTC as collateral for lending without relying on wrapped BTC or centralized custody solutions.The proposal has been published on the Aave governance forum, seeking DAO approval to advance the integration and incorporate Babylon's native BTC into the V4 lending protocol's collateral assets. The proposal points out that Bitcoin is the largest crypto collateral base, but currently, most on-chain BTC lending relies on wrapped BTC variants, custodial intermediaries, or fragmented BTCfi platforms. The Aave V4 architecture will leverage Babylon's staking and validation infrastructure to provide a more direct native Bitcoin lending mechanism, integrating fragmented Bitcoin collateral lending into a unified protocol.

Zhao Changpeng stated in a Binance Online live broadcast that, compared to directly investing in AI itself, he prefers to invest in the "shovels" that support AI, including data centers, power, and other computing infrastructure.Zhao Changpeng mentioned that although the current AI chip market is almost dominated by NVIDIA, there may be more customized solutions for AI computing scenarios in the future. Additionally, he is also paying attention to the development of robotics technology.In terms of investment direction, Zhao Changpeng said that AI will drive rapid development in biotechnology, but YZi Labs will not make large-scale investments in this field, with core investments still focused on the cryptocurrency and blockchain industry. Currently, about 70% to 80% of investments are still in the Web3 sector.

According to official news, Consensys submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) stating that the SEC's latest interpretive framework for crypto assets may leave regulatory gaps, creating compliance uncertainty for self-custody wallet providers like MetaMask.Consensys requests that the SEC clarify through a targeted safe harbor or other exemption measures that self-custody, user-led interfaces that only support the trading of non-security crypto assets potentially attached to investment contracts do not need to register as broker-dealers.Consensys stated that this move aims to ensure that U.S. users can continue to use open, neutral peer-to-peer blockchain tools.

According to official news, Tether has launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. There is no total grant cap for this program, and rewards will be issued based on technical tasks and deliverables, with current individual bonuses ranging from $1,500 to $4,000.This funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, e-commerce integration, and particularly supports its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on the device locally, without relying on cloud servers, to reduce latency, costs, and data exposure risks.In addition, Tether will also promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs.Tether CEO Paolo Ardoino stated that a significant amount of infrastructure still forces developers to rely on centralized platforms and data business models, and Tether hopes to fund systems that can "run locally, hold value directly, and have no external dependencies" to enter the market.

According to official news, Coinbase has announced the official launch of self-managed superannuation funds (SMSFs) support in Australia, providing compliant and secure digital asset investment solutions for Australian trustees to help diversify retirement portfolios.This service is based on the Australian Financial Services License (AFSL) recently obtained by Coinbase and local expertise. According to data from the Australian Taxation Office, there are currently over 653,000 SMSFs in Australia managing assets worth AUD 1.05 trillion, with more than 1.2 million members. SMSFs have become one of the few retirement structures globally that allow individuals to directly manage digital assets, providing this flexibility.Coinbase's SMSF solution offers a streamlined real-time verification process, audit reports compliant with local accounting standards, and institutional-level security, helping Australian investors incorporate cryptocurrency into long-term retirement strategies.

MARA has launched the MARA Foundation to enhance Bitcoin's defense capabilities against security threats, covering risks such as quantum computing, while expanding the accessibility of self-custody and providing educational resources.

Tennessee Governor Bill Lee has signed a bill that officially becomes law, banning the use and installation of cryptocurrency ATMs and kiosks in Tennessee, located in the southeastern United States. Companies have only a few weeks left to comply.Lee signed Tennessee House Bill 2505 on April 13, which stipulates that starting July 1, the installation of cryptocurrency kiosks will be classified as a Class A misdemeanor. Under state law, such devices are reclassified as illegal, potentially exposing operators and businesses providing the equipment locations to a maximum of 11 months and 29 days in jail and a $2,500 fine.

Morgan Stanley's investment management division, MSIM, announced the launch of a stablecoin reserve portfolio fund (MSNXX), which is a government money market fund designed specifically for stablecoin issuers. It aims to provide a regulated and secure storage place for reserves held by issuers that back their tokenized fiat currency versions.The fund only invests in the safest and most liquid instruments, such as U.S. Treasury bills (short-term loans to the U.S. government) and repurchase agreements (overnight loans secured by similar government securities), both of which aim for capital preservation. The fund's target net asset value is $1, meaning that the invested capital retains the same value upon redemption, avoiding price fluctuations; at the same time, the fund offers daily liquidity, allowing investors to redeem funds on any trading day without a waiting period or penalties.Currently, the market capitalization of stablecoins has reached $316 billion, with tokens pegged to the U.S. dollar, such as Tether and USDC, holding the majority share. Morgan Stanley's launch of the fund coincides with the advancement of the GENIUS Act in Congress. If passed, this act would legally require stablecoin issuers to back their tokens with high-quality liquid assets such as Treasury bills and cash-like instruments, and they must be held through regulated instruments. Thus, the fund is positioned to take on reserve management business ahead of regulatory mandates.Additionally, Morgan Stanley Investment Management recently launched the Morgan Stanley Bitcoin Trust (MSBT), which is a cryptocurrency ETP that tracks Bitcoin, with custodial and fund management services provided by BNY Mellon. It has also collaborated with BNY Mellon to launch tokenized DAP class shares of an institutional liquidity fund Treasury securities portfolio, achieving blockchain-based mirror records while the official ledger remains retained by BNY Mellon.