Trump calls himself the “Crypto President” and the criminal utilization rate of AI encryption has increased significantly.

Headlines

▌Trump said he would "become the crypto president" at a campaign fundraiser

According to Reuters, citing people who attended the fundraiser, Trump raised $12 million at a fundraiser held at the home of David Sacks, a San Francisco tech entrepreneur and investor, on Thursday evening. Social Capital CEO Chamath Palihapitiya was the co-host of the event. According to Reuters, well-known crypto leaders such as Gemini founder Cameron and Tyler Winklevoss also attended the fundraiser. Trevor Traina, chief business officer of Tools for Humanity, who served as Trump's ambassador to Austria, told Reuters that Trump "stated he would be the crypto president" at the fundraiser. Jacob Helberg, a consultant to Palantir Technologies, told Reuters that Trump made it clear that "Biden and Gensler's crusade against cryptocurrencies will stop within an hour of Trump's second administration taking office."

▌Elliptic: The use of artificial intelligence in criminal activities in the crypto field has increased significantly

According to a new report from Elliptic, artificial intelligence (AI) is increasingly being used to commit crimes in the crypto asset ecosystem. The report pointed out that criminals are increasingly using generative artificial intelligence to create deep fakes and other deceptive materials to carry out crypto scams. In addition, there has been a significant increase in scam tokens, investment platforms, Ponzi schemes and fake trading robots related to artificial intelligence. Elliptic pointed out that scammers often use popular technologies and buzzwords to create tokens or investment plans, which ultimately lead to exit scams. One notable incident involved a fake artificial intelligence trading robot scam called iEarn in 2023, which caused losses of approximately $6 million. The surge in artificial intelligence trading robots prompted the US CFTC to issue a warning in January. In addition to creating tokens, scammers are also using AI as a means to generate hype on fraudulent investment platforms, the report added. In particular, scammers are trying to use the potential of AI to enhance trading or arbitrage capabilities. In addition, AI technology is being used to facilitate large-scale crypto scams and disinformation campaigns.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is 70772.40 US dollars, with a daily increase or decrease of -0.5%;

ETH's latest transaction price is 3811.99 US dollars, with a daily increase or decrease of -1.5%;

BNB's latest transaction price is 709.72 US dollars, with a daily increase or decrease of +0.4%;

SOL's latest transaction price is 170.55 US dollars, with a daily increase or decrease of -1.9%;

XPR recently traded at $0.5217, with a daily change of -0.9%.

Policy

▌Bloomberg ETF Analyst: US SEC Makes Request for Ethereum ETF Decision Based on Freedom of Information Act

In an interview with KITCO, Bloomberg ETF analyst James Seyffart called for a Freedom of Information (FOIA) request regarding the U.S. Securities and Exchange Commission (SEC)'s approval of the spot Ethereum ETF. Seyffart said that the public request should search emails, phone calls and anyone who has spoken with SEC Chairman Gary Gensler to determine what happened in the SEC's decision-making process. There may be unused rejection orders due to the agency's rapid shift in stance. Seyffart said the SEC approved the spot Ethereum ETF through a delegation agency, a common approach but a rare choice for the current issue. Delegation also means an unclear voting record. This choice was politically motivated, and unless someone comes out and shows me hard evidence...it's all political. The main theory is that a member of the Biden administration called SEC Chairman Gary Gensler and influenced the agency's decision.

▌Crypto Open Patent Alliance asks Craig Wright to compensate for 85% of its legal fees

Legal representatives of the Crypto Open Patent Alliance (COPA) asked Judge James Mellor on Friday to approve Craig Wright to pay 85% of the expenses incurred by the organization in the legal action. In February of this year, COPA took Wright to court to find out whether he is Satoshi Nakamoto, the creator of Bitcoin. James Mellor, the presiding judge in the case, ruled in March that Wright is not Satoshi Nakamoto. Jonathan Hough, one of COPA's legal representatives, requested a civil restraining order against Craig Wright to prevent him from filing any other legal action.

▌The mastermind of the South African Metaverse Ponzi Scheme GS Partners was arrested and granted bail

On June 8, Neil Leon De Waal, a key figure in the Metaverse Ponzi Scheme GS Partners, was arrested by South African law enforcement in late May. He was subsequently granted bail on June 3. Authorities began investigating De Waal after receiving a complaint from a victim. De Waal reportedly recruited a new GS Partners investor in May 2023. The exact time is unknown, but the arrest warrant for De Waal was issued in December last year. He was arrested after getting off the plane in South Africa, and his legal team said he would prove his innocence.

▌New York Attorney General opposes DCG and Silbert's motion to dismiss fraud

The New York Attorney General's Office has filed a motion opposing a motion to dismiss a fraud case filed in March by Digital Currency Group (DCG), founder and CEO Barry Silbert, and former CEO of DCG's wholly owned cryptocurrency exchange Genesis, Soichiro "Michael" Moro. The New York Attorney General's Office alleges that Genesis, DCG, Silbert, and Moro, along with cryptocurrency exchange Gemini, defrauded investors by conspiring to cover up a massive $1 billion hole in Genesis' balance sheet caused by the bankruptcy of Singapore-based crypto hedge fund Three Arrows Capital (3AC). The opposition motion reaffirms the office's claim that "each of the DCG defendants" (DCG, Silbert, and Moro) was well aware that they were allegedly committing fraud to make Genesis appear solvent, in violation of the Martin Act, New York's strict anti-fraud law. The Martin Act broadly prohibits any fraudulent business activity related to the purchase, exchange, promotion, advertising, or sale of any security or commodity.

Blockchain Applications

▌Russia plans to start using digital ruble for international transactions in the second half of 2025

The chairman of the Russian State Duma Financial Market Committee Anatoly Aksakov said at the St. Petersburg International Economic Forum (SPIEF) that central bank digital currency (CBDC) will be popular and become the norm for international payments within five years. He revealed that Russia may start using digital ruble for international transactions in the second half of 2025, but first it needs to be tested domestically and widely implemented, including for use by legal entities. The Central Bank of Russia has been actively developing the digital ruble, aiming to modernize the country's financial system and reduce its reliance on traditional banking infrastructure. Since 2020, Russia has been testing various aspects of CBDC in pilot projects. The introduction of the digital ruble is not only intended to facilitate safer and more efficient financial transactions, but also aims to enhance Russia's economic sovereignty and reduce the impact of foreign sanctions on its financial system. Aksakov also mentioned that the initial testing of CBDC international transactions may involve China or Belarus, as the two countries are technologically close and have friendly relations.

▌Peru adopts India's UPI system to promote financial inclusion

The Central Bank of Peru (BCRP) and the National Payments Corporation of India (NIPL) have reached an agreement to create a system similar to India's Unified Payments Interface (UPI) to promote financial inclusion and help a large number of unbanked populations. The new system supports offline transactions and enhances the interoperability of payment systems. BCRP President Julio Velarde said the system will introduce new players and complement the existing payment industry. NIPL has promoted the UPI system in several countries and established partnerships with financial institutions such as Google Pay.

Cryptocurrency

▌Base TVL exceeds 8 billion US dollars and continues to hit a record high

According to the latest data from L2BEAT, the total locked value (TVL) of Layer2 network Base has now exceeded 8 billion US dollars, currently reaching 8.01 billion US dollars, continuing to hit a record high, with a 7-day increase of 11.0291%.

▌USDC circulation increased by 200 million US dollars in the past week, with a total circulation of 32.5 billion US dollars

According to official data, as of June 6, Circle has issued a total of 2.3 billion US dollars in USDC and redeemed 2.1 billion US dollars in USDC in the past 7 days, with an increase of 200 million US dollars in circulation. The total circulation of USDC is $32.5 billion, and the reserve is $32.6 billion, of which about $3.6 billion is in cash and about $29 billion is held by the Circle Reserve Fund.

▌Aave community proposal suggests increasing the supply and borrowing limit of USDT on Aave V3 Ethereum

The Aave official governance forum shows that community member Chaos Labs proposed to increase the supply and borrowing limit of USDT on Aave V3 Ethereum.

▌Nascent withdrew 447.67 billion PEPE from Binance 6 hours ago, accounting for the first place in its investment portfolio

According to Spot On Chain monitoring, 6 hours ago, Nascent withdrew 447.67 billion PEPE (US$5.48 million) from Binance for the first time, with a current floating profit of US$262,000 (+4.8%). Currently, PEPE ranks first in the venture capital investment portfolio, followed by MKR, with a total profit of US$2.45 million (+248%).

Important Economic Dynamics

▌The three major U.S. stock indexes all closed down slightly, and GameStop plummeted by more than 39%, the largest drop in three years

The three major U.S. stock indexes all closed down slightly, with the Nasdaq down 0.23%, up 2.38% this week; the Dow fell 0.22%, up 0.29% this week; and the S&P 500 fell 0.11%, up 1.32% this week. Most large technology stocks fell, with Google and Netflix falling more than 1%, Tesla, Nvidia, Microsoft, Amazon, and Meta rising slightly; Intel and Apple rose more than 1%. GameStop plummeted by more than 39%, the largest drop in three years. The company's Q1 revenue was $882 million, less than $1.237 billion in the same period last year and less than the estimated $995.5 million.

▌ECB Governing Council member Nagel: ECB rate cut reflects weakening inflationary pressure

ECB Governing Council member Nagel said that the ECB rate cut reflects weakening inflationary pressure; the ECB was not very surprised by the rebound in inflation; the German economy has accelerated its recovery; in order to achieve economic growth, Germany needs to deal with structural challenges; debt brakes are of great significance, and the German central bank is the main supporter of this mechanism.

▌JPMorgan Chase postpones the forecast of the first Fed rate cut to November

Due to stronger-than-expected US employment data in May, JPMorgan Chase economists postponed the forecast of the first Fed rate cut from July to November. Previously, JPMorgan Chase was one of the few institutions that still predicted the Fed would cut interest rates in July. Michael Feroli, the bank's chief U.S. economist, currently expects the Fed to cut interest rates for the first time in November and to cut interest rates for consecutive quarters next year. After the release of the May non-farm data, Feroli said, "The possibility of a rate cut in July now seems slim. The household survey indicators are expected to be weaker in the three employment reports from now to September, but given the recent momentum of employment growth, we think it may take five reports from now to November to show weakness to pass the test of rate cuts."

Golden Encyclopedia

▌What is liquidity pledge?

Liquid staking allows stakers to maintain liquidity of staked tokens by using alternative tokens, which they can use to earn additional returns through DeFi protocols. Liquid staking enables cryptocurrency holders to participate in staking without giving up control of their holdings. This changes the way users stake. Projects such as Lido have introduced liquid staking to provide tokenization of staked assets in the form of tokens and derivatives.

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