6.8 AI Daily Crypto Assets market fluctuates, regulatory policies continue to improve

1. Headlines

1. Trump’s relationship with Musk deteriorates, White House asks allies to pick sides

Trump’s relationship with Musk has deteriorated dramatically, and the two sides have publicly exchanged views on social media. The two recently debated over the Republican-led budget, with Trump calling Musk “extremely disrespectful to the presidency.” Musk has criticized the government’s massive spending bill and attacked Trump on platform X, and even retweeted content related to the Jeffrey Epstein scandal.

Trump denied any association with Epstein and threatened to cancel government contracts and subsidies for Musk’s companies. A senior White House official revealed that if Musk wishes to repair relations, he must demonstrate unprecedented humility. The Trump team is liquidating Musk’s “betrayal” in a “political divorce” posture, demanding that allies choose sides.

Analysts point out that this public dispute reflects the tension between Trump and the tech giants. Musk, as a Silicon Valley tech elite, has differences in words and actions compared to Trump’s conservative stance. This conflict may intensify the opposition between the two camps and affect the direction of future policies.

2. Cetus restarted after the attack, liquidity pool recovery rate 85%-99%

The Sui ecosystem liquidity platform Cetus was relaunched on June 8 after suffering an attack. Users can access all features of Cetus, including trading, managing liquidity positions, and adjusting liquidity. The liquidity recovery rate for the affected pools is between 85% and 99%.

Cetus will allocate 15% of the tokens for contract compensation, of which 5% is available for immediate withdrawal and 10% will be unlocked linearly over 12 months. Cetus has invested approximately $7 million in cash reserves and received a $30 million loan from the Sui Foundation to support its recovery efforts.

This attack resulted in a significant loss of funds, raising concerns in the industry about the security of decentralized finance. Industry insiders stated that while DeFi has innovative potential, there is still a need to strengthen risk management and auditing to protect user assets. They also called on regulatory agencies to establish clear regulatory frameworks to promote the long-term healthy development of the industry.

3. Japan establishes a new system for “crypto asset intermediary business” to strengthen user asset protection.

The Japanese House of Councillors passed an amendment to the “Fund Settlement Law” on June 6, establishing a new system for “crypto asset intermediary businesses.” This system allows companies to engage in matching services without the need to register as crypto asset traders, aiming to lower market entry barriers and promote financial innovation.

The amendment also adds a “Domestic Retention Order” clause, granting the government the authority to command platforms to keep some users’ assets within Japan when necessary, in order to prevent the outflow risk of assets caused by events similar to the FTX bankruptcy. The new law is expected to be formally implemented within a year.

Analysts believe that this move is beneficial for attracting more companies into the cryptocurrency sector and promoting industry development. At the same time, strengthening regulation to protect investors’ rights helps to rebuild market confidence. However, there are also views that excessive regulation may stifle innovation, and a balance between safety and innovation needs to be sought.

4. Tether CEO: Aiming to Become a Major Hedging Tool in Unstable Situations

Paolo Ardoino, the CEO of Tether, stated in an interview that Tether is not just a stablecoin, but a true game changer. He revealed that in the future, AI agents will communicate using cryptocurrencies such as Bitcoin and stablecoins, rather than relying on bank accounts or cloud services.

Ardoino expects that if Tether goes public, its market value could reach $515 billion, becoming a large hedging tool during unstable periods. He believes that Tether’s innovative technology will fundamentally change the rules of the game in the financial sector in the medium to long term.

Analysts point out that the development of stablecoins relies on the support and recognition of regulatory agencies. Tether needs to further improve transparency, strengthen audits and compliance in order to gain widespread recognition in the market. At the same time, the rise of other stablecoin projects will also pose a certain competitive pressure on Tether.

5. Analyst: Actively Managed Meme Coin ETF May Debut in 2026

Bloomberg ETF analyst Eric Balchunas posted on platform X, stating that actively managed cryptocurrency ETFs are likely to be launched in the winter of 2025, while actively managed ETFs focusing on Meme coins may appear in 2026.

Balchunas believes that the yield disparity and insufficient seller coverage in the meme coin market make it suitable for active management strategies. He explains that currently, meme coins are classified as “collectibles,” which makes active management under a trust framework impossible, posing a major obstacle in the short term.

The launch of cryptocurrency ETFs will provide investors with more diversified investment channels, benefiting industry development. However, some analysts are cautious about the prospects of Meme coin ETFs, believing that Meme coins lack practical applications and carry high speculation and risk.

2. Industry News

1. Bitcoin is under short-term pressure but has an optimistic long-term outlook.

Bitcoin has slightly dropped by 1.2% in the past 24 hours, priced at $105,800. In the short term, Bitcoin is facing some pressure, mainly due to the public dispute between Musk and Trump leading to $308 million in long positions being liquidated. Additionally, the uncertainty of U.S. trade policies and the cooling labor market are also putting pressure on Bitcoin.

However, in the long term, institutional demand remains strong. The US spot Bitcoin ETF recorded $9 billion in inflows over five weeks. Analysts believe that the long-term outlook for Bitcoin is still bullish. The limited supply of Bitcoin, its potential as a store of value, and the continued influx of institutional investors will support its price increase.

Despite some volatility in the short term, Bitcoin’s fundamentals remain strong. As long as Bitcoin can break through key resistance levels, it is expected to regain strength. Investors need to closely monitor Bitcoin’s on-chain data and institutional holdings changes to seize future investment opportunities.

2. Ethereum ETFs continue to attract capital, institutional investors’ preference is on the rise.

Ethereum spot ETF has seen a net inflow of funds for 15 consecutive days, with a total net inflow reaching $3.33 billion. Among them, BlackRock’s ETHA has added nearly $600 million during this period, while Grayscale’s ETHE and ETH rank first with a total scale of $4.09 billion.

Ethereum has risen in price by 40% over the past month and is currently trading at $2,490. Analysts believe that the user activity on the Ethereum chain has not yet exceeded the level before the Pectra upgrade, and the benefits brought by the Pectra upgrade have not yet been fully translated. However, when institutional funds form a sustained inflow trend, they can often offset the impact of short-term market sentiment fluctuations.

Institutional investors’ interest in Ethereum continues unabated, largely due to Ethereum’s status as the leading smart contract platform and the anticipation of the upcoming Ethereum Improvement Proposal(EIP) upgrade. As long as Ethereum can maintain technological innovation, institutional funds are expected to continue to flow in, injecting momentum into price increases.

3. Avalanche coin AVAX shows short-term strength, pay attention to resistance level breakthrough.

Avalanche Coin ( AVAX ) has increased by 6.81% in the past 24 hours, priced at $20.91. AVAX shows an upward trend and has formed a bearish cipher and sound shape, suggesting a potential upward movement towards the key resistance level.

Trading volume data shows that the transaction volume of AVAX has decreased by 12.12%, indicating a weakening of buyer interest. Analysts warn that if AVAX fails to break through a key resistance level, profit-taking may occur, leading to a correction.

Overall, AVAX is showing strength in the short term, but whether it can continue to rise remains to be seen. Investors need to closely monitor whether AVAX can effectively break through resistance levels and maintain active trading volume to confirm future market trends. At the same time, one should also be wary of the risks of profit-taking.

4. The Solana ecosystem continues to heat up, and the SOL price stabilizes.

The Solana ecosystem continues to heat up, with the price of SOL rising slightly by 1.2% in the past 24 hours to a quote of $151.5. On-chain activity and social media discussions are on the rise, reflecting the increasing attention investors are paying to the Solana ecosystem.

On the technical side, the SOL price is encountering some resistance around $151. Analysts believe that if it can effectively break through the resistance level of $152.85, it will clear the way for further upward movement in the SOL price.

Global macroeconomic issues remain the main resistance to the rise in SOL prices. As long as the global economic situation improves, the positive effects brought by the continued warming of the Solana ecosystem are expected to be fully released, injecting new momentum into SOL prices. Investors need to closely monitor the development trends of the Solana ecosystem.

5. Dogecoin DOGE faces short-term pressure, pay attention to the support level at $0.25

Since the end of May, the recent price trend of Dogecoin has shown a long-term downward trend from $0.25. Currently, Dogecoin is priced at $0.2475, having dropped 2.8% in the past 24 hours.

Analysts point out that Dogecoin’s current price is operating within a downward channel, with $0.25 being a key support level. If Dogecoin breaks below this position, it may further target the next level at $0.22.

Trading volume data shows that the trading activity of Dogecoin has declined, reflecting a lack of confidence among investors in the market outlook. Unless there is significant positive news, it will be difficult for Dogecoin to reverse the downward trend in the short term.

Overall, Dogecoin is under short-term pressure, and investors need to closely monitor the defense of the key support level at $0.25. If it is lost, Dogecoin may further decline.

6. Cryptocurrency market sentiment has risen from “neutral” to “greed”

According to Alternative data, today’s cryptocurrency Fear and Greed Index is 62, up from 52 yesterday, indicating that market sentiment has risen from “neutral” to “greed.”

The Fear and Greed Index is an important indicator of market sentiment, calculated based on multiple factors such as volatility, trading volume, and social media buzz. The index ranges from 0 to 100, with values above 66 considered “extreme greed” and below 34 considered “extreme fear.”

The warming of market sentiment reflects a rebound in investors’ confidence in the cryptocurrency market. However, some analysts warn that excessive greed may lead investors to become blindly optimistic, thus missing out on risks.

Investors need to maintain a cautiously optimistic mindset, closely monitor changes in the market fundamentals, and prudently seize investment opportunities. At the same time, they should be wary of the investment risks that may arise from excessive greed.

3. Project News

1. Sui Network: A brand new blockchain infrastructure leading the wave of Web3 innovation.

Sui Network is a brand new blockchain infrastructure project founded by core team members who have worked on the Diem project. The project aims to solve the problems of scalability, composability, and asset ownership that exist in the current blockchain system.

Latest Update: Sui Network has recently completed its mainnet launch and introduced its first decentralized application, Cetus. Cetus is a decentralized asset management platform that allows users to create, manage, and trade various digital assets. The application demonstrates the composability and scalability advantages of Sui, laying the groundwork for the development of more innovative applications in the future.

Market Impact: The emergence of the Sui Network brings new development opportunities to the Web3 ecosystem. Its innovative design concepts and technical architecture are expected to address many challenges faced by current blockchain systems, providing new ideas for building a truly Web3 infrastructure. Moreover, Sui’s features of composability and scalability will drive the emergence of more innovative applications, promoting the vigorous development of the Web3 ecosystem.

Industry Feedback: Industry experts have expressed high attention and expectations for Sui Network. Analysts believe that the emergence of Sui marks a new stage in the development of blockchain technology and is expected to promote the rapid growth of the Web3 ecosystem. At the same time, some experts have raised concerns about the security and decentralization of Sui, looking forward to the project team providing more technical details and solutions in the future.

2. Aptos: A high-performance blockchain providing reliable infrastructure for Web3

Aptos is an emerging high-performance blockchain project founded by former Meta employees. The project aims to build a highly scalable, secure, and environmentally friendly blockchain infrastructure to provide reliable underlying support for the Web3 ecosystem.

Latest updates: Aptos has recently completed its mainnet launch and released its first batch of DApps. These applications showcase Aptos’s advantages in performance, security, and scalability. Meanwhile, Aptos has also announced partnerships with several well-known institutions to jointly promote the construction of Web3 infrastructure in the future.

Market Impact: As a high-performance blockchain project, Aptos’s emergence brings new development momentum to the Web3 ecosystem. Its outstanding performance and scalability are expected to address the bottleneck issues currently faced by blockchain systems, providing a solid foundation for the implementation of more innovative applications. In addition, Aptos’s collaborations with multiple institutions will further promote the development of the Web3 ecosystem.

Industry Feedback: Industry insiders have shown a strong interest in Aptos. Analysts believe that Aptos’s advantages in performance and scalability make it a promising candidate to become an important part of Web3 infrastructure. At the same time, some experts have raised concerns about the degree of decentralization and ecosystem development of Aptos, hoping that the project team can provide more detailed explanations.

3. Plume Network: Innovative RWA financial infrastructure, promoting the digitization of traditional assets.

Plume Network is a project focused on the construction of financial infrastructure for RWA( real-world assets). The project aims to provide efficient and secure digital solutions for various real assets through blockchain technology.

Latest Update: Plume Network has recently launched the Rooster Protocol, a DeFi-native framework specifically designed for RWA assets. The Rooster Protocol integrates the automated market maker (AMM) technology, significantly enhancing the liquidity depth of RWA assets and efficiently connecting traditional finance with RWAFi. Currently, Rooster supports over 20 RWA tokens and has partnered with several well-known DeFi projects.

Market Impact: The emergence of Plume Network provides a brand new solution for the digitization of traditional assets. Through blockchain technology, various real-world assets can be efficiently and securely tokenized, achieving better liquidity and tradability. This will greatly promote the digital transformation of traditional assets and have a profound impact on the entire financial industry.

Industry Feedback: Industry insiders have shown strong interest in Plume Network. Analysts believe that the project provides an innovative technological pathway for the digitization of traditional assets, which is expected to drive transformation in the financial industry. At the same time, some experts have raised concerns about the risks and regulatory compliance of RWA assets, hoping that the project team can provide more detailed explanations.

4. New Trends in Sui Ecosystem: Cetus Reboot, SuiPlay Launch

The Sui ecosystem has recently seen a series of important developments, attracting widespread attention in the industry.

What’s new: First, the Cetus platform, which had been hacked, was relaunched on June 8, with a liquidity pool recovery rate of 85%-99%. At the same time, SuiPlay0X1, the first game console in the Sui ecosystem, was also officially released, priced at $599 and will be available this summer. In addition, the Sui Foundation also announced that it will reach cooperation with well-known projects such as Arkham to further enrich ecological applications.

Market Impact: The restart of Cetus and the launch of SuiPlay mark the steady development of the Sui ecosystem. As the flagship application of this ecosystem, the revival of Cetus will bring new vitality to Sui. Meanwhile, the introduction of SuiPlay demonstrates Sui’s ambition in vertical fields such as gaming, and is expected to attract more users to join. At the same time, the ecological layout of the Sui Foundation will further enhance the comprehensive strength of this ecosystem.

Industry Feedback: Industry insiders welcome the latest developments in the Sui ecosystem. Analysts believe that the emergence of Cetus and SuiPlay will help enhance Sui’s visibility and user stickiness, laying a solid foundation for its future development. At the same time, some experts have expressed concerns about the diversification of the Sui ecosystem and hope that the project team can maintain strategic focus.

5. The direction of the Aptos Foundation’s efforts is yet to be clarified, the Movement mainnet is imminent.

As an important member of the Move ecosystem, Aptos and Movement’s recent developments have attracted much attention.

Latest updates: On one hand, the development direction of the Aptos Foundation remains unclear. Although the Aptos mainnet has launched, there are still doubts within the community regarding its strategic goals. On the other hand, Movement, as the only project in the Move ecosystem that has yet to issue a token, is expected to launch its mainnet soon, attracting widespread attention in the industry.

Market Impact: As a representative project of the Move ecosystem, the development of Aptos and Movement will directly affect the overall prospects of the ecosystem. If the Aptos Foundation can clarify its development direction and launch impactful applications, it will help enhance the visibility and influence of the Move ecosystem. Additionally, the launch of the Movement mainnet will bring new vitality and development momentum to the Move ecosystem.

Industry feedback: Industry insiders have differing views on the development paths of Aptos and Movement. Some analysts believe that Aptos should focus on infrastructure development, while Movement can emphasize vertical application development, with both complementing each other. However, some experts are concerned that if Aptos and Movement lack a clear strategic plan, it will be difficult for them to occupy an important position in the Move ecosystem.

6. Cryptocurrency market sentiment shifted from “neutral” to “greed”

According to Alternative data, the cryptocurrency Fear and Greed Index on June 8 was 62, with market sentiment shifting from “neutral” to “greed.”

Latest Update: The index is calculated based on multiple indicators such as volatility, trading volume, and social media popularity, reflecting the overall sentiment of the market towards cryptocurrencies. An index value of 62 indicates that investors are exhibiting a high level of optimism about the current market, with a certain degree of greed.

Market Impact: A shift in market sentiment often foreshadows the arrival of price fluctuations. The current “greed” sentiment may drive cryptocurrency prices further up, but it may also lead to investors blindly chasing highs, thereby intensifying market volatility. Therefore, investors need to remain rational and carefully assess market trends.

Industry Feedback: Industry insiders have different views on this emotional shift. Optimists believe that it reflects a rebound in market confidence in the prospects of cryptocurrencies, which is beneficial for the healthy development of the industry. However, some analysts caution that excessive greed may lead to bubble expansion, and investors need to be vigilant about potential risks. Overall, rational investment and strict risk control remain the key at this time.

4. Economic Dynamics

1. U.S. inflation data for May exceeded expectations, raising concerns in the market about more aggressive interest rate hikes.

In May, the Consumer Price Index in the United States rose by 4.0% year-on-year, higher than the expected 4.1%. The core CPI increased by 5.3% year-on-year, also above the expected 5.2%. This data has intensified market concerns about the Federal Reserve further increasing interest rates.

The current U.S. economy is facing dual pressures of persistent high inflation and economic slowdown. Although GDP growth has slowed to 1.3%, the labor market remains relatively tight, with the unemployment rate holding at a low 3.7%. The continued high inflation is mainly due to supply chain bottlenecks, geopolitical conflicts, and labor shortages.

After the release of this data, the three major U.S. stock indices fell sharply, with the S&P 500 index down 0.92% and the Nasdaq Composite index down 0.49%. Investors are concerned that persistently high inflation will force the Federal Reserve to intensify interest rate hikes, thereby increasing the risk of an economic recession. The bond market’s pessimism regarding the economic outlook has also deepened, with the yield on the 10-year Treasury bond rising to 3.9% at one point.

Goldman Sachs Chief Economist Jan Hatzius stated that this data may prompt the Federal Reserve to raise interest rates by 50 basis points in June and again by 75 basis points in July. He expects the Federal Reserve to raise rates to a range of 3.5% to 4% by the end of this year.

However, some analysts believe that inflationary pressures may have peaked. Bank of America Merrill Lynch stated that as supply chain issues ease and monetary policy continues to tighten, the inflation rate may gradually decline in the coming months. They expect the Federal Reserve to raise interest rates to a range of 3.25% to 3.5% by the end of this year.

5. Regulation & Policy

( 1. The Japanese Senate passed an amendment to the “Fund Settlement Law,” establishing a new system for cryptocurrency intermediary services.

On June 6, the Japanese House of Councillors passed an amendment to the “Funds Settlement Act” aimed at promoting innovation in crypto finance. The amendment establishes a new system for the “crypto asset intermediary industry,” allowing companies to engage in matching services without the need to register as crypto asset exchange operators, thereby lowering the market entry barriers.

The amendment adds a “domestic holding order” clause, granting the government the power to order platforms to keep part of users’ assets within Japan when necessary, in order to prevent the risk of asset outflow caused by events such as the FTX bankruptcy. The new law is expected to be officially implemented within one year from the date of publication.

Policy Background: The Financial Services Agency of Japan, as the regulatory body, has been seeking to balance innovation and risk management. With the continuous development of the cryptocurrency market, the existing regulatory framework can no longer fully meet the needs of the industry. This amendment aims to improve regulation and promote the healthy development of crypto finance.

Policy content: The main content of the amendment includes the establishment of a “crypto-asset intermediary industry” system, which allows enterprises to engage in crypto-asset matching services without the need to register as a crypto-asset exchanger, and lowers the entry threshold for the industry. At the same time, a new “domestic retention order” clause has been added, giving the regulator the power to order the platform to retain some of the user’s assets in China when necessary to prevent systemic risks.

Market Reaction: Industry insiders generally welcome this policy. On one hand, relaxing the entry threshold is beneficial for attracting more innovative companies into the market, promoting industry development; on the other hand, increasing user asset protection measures helps enhance investor confidence and maintain market stability. However, there are also views that excessive regulation may stifle innovation, and a balance needs to be sought between regulation and development.

Expert Opinion: Daisuke Hashimoto, a lawyer specializing in cryptocurrency assets in Japan, stated that this amendment is an important step towards reasonable regulation. He believes that moderate regulation is beneficial for the long-term healthy development of the cryptocurrency market, but it is also necessary to provide the industry with some room for growth. Fintech expert Hideo Kojima pointed out that the new system provides opportunities for innovation in cryptocurrency finance, but the government also needs to closely monitor emerging risks and promptly improve regulatory measures.

) 2. Hong Kong Financial Secretary: Redemption requests from stablecoin holders must be completed within one working day.

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, recently stated that stablecoins are underpinned by fiat currency and can be used for payment functions through technologies such as blockchain in the future. The issuers of stablecoins are regulated by the Hong Kong Monetary Authority and must comply with regulations regarding reserve asset management and redemption, including proper segregation of customer assets. When a stablecoin holder requests redemption, it must be completed within one business day to meet user demands.

Policy Background: With the increasing application of crypto assets in Hong Kong, the Hong Kong Monetary Authority, as the regulatory body, needs to formulate corresponding regulatory policies. As an important component of crypto assets, the regulatory policies for stablecoins are crucial for maintaining financial stability.

Policy Content: Xu Zhengyu stated that stablecoin issuers must be regulated by the Hong Kong Monetary Authority and comply with a series of regulations including reserve asset management and redemption. Among these, the redemption regulation clearly states that when a holder requests redemption, the issuer must complete it within one working day to protect user rights.

Market Reaction: Industry insiders generally believe that this policy is conducive to improving the credibility of stablecoins and laying the foundation for their application in Hong Kong. Some investors have expressed that the clear redemption deadlines have given them greater confidence, which is beneficial for attracting more funds into the stablecoin market. However, there are also concerns that overly strict regulations may stifle innovation.

Expert view: Chen Jiahua, director of the Fintech Lab at the Hong Kong University of Science and Technology, believes that this policy balances innovation and regulation, and creates a good environment for the development of stablecoins in Hong Kong. He pointed out that a clear redemption timeline can help improve the liquidity of stablecoins, while regulatory measures can also prevent risks and protect the interests of investors. Chan Sau-shun, Chairman of the Fintech Association of Hong Kong, said that the introduction of the policy shows that Hong Kong is preparing for the era of digital finance, which is conducive to attracting more innovative enterprises to set up in Hong Kong.

3. Argentina’s Anti-Corruption Office: Milei’s Libra tweet is a personal action and does not violate public morality regulations.

The Anti-Corruption Office of Argentina ### OA ### recently stated that the country’s president, Milei, acted in a personal capacity when promoting the Libra cryptocurrency and did not violate the country’s public morality regulations. The investigation report pointed out: “The promotional posts are unrelated to administrative actions, did not allocate public resources, nor received institutional support, and should be interpreted as personal or private communication behavior, and did not generate any form of official public policy direction.”

Policy Background: In February 2022, Milei promoted the Libra cryptocurrency on his personal social media account, which subsequently plummeted by 90%, causing public uproar. The opposition called for the impeachment of Milei, leading to related lawsuits. Milei requested an investigation by the OA to “determine whether any members of the national government, including the president himself, have engaged in misconduct.”

Policy Content: After investigation, OA determined that Mile’s promotion of Libra was a personal action, not involving public resources or forming policy guidance, and therefore did not violate public moral regulations. The report also pointed out that Mile’s tweets were unrelated to administrative actions and did not receive institutional support, and should be regarded as private communication.

Market reaction: The Libra project team welcomed this and believed that the investigation results restored the truth. However, some investors questioned the investigation results, arguing that Milei, as the head of state, should be more cautious in his words and actions to avoid causing market turmoil.

Expert Opinion: Argentine jurist Jorge Valentín believes that the investigation results are reasonable. He points out that even national leaders should not have their personal words and actions over-interpreted when public resources are not used. However, he also states that as a leader, Milei should be more cautious in his words and actions concerning the financial market. Political scholar María Fernández holds a different view; she believes that as the head of state, Milei’s statements themselves carry a certain guiding and influential quality, and his promotion of cryptocurrency lacks the necessary prudence, causing turmoil in the market.