AICoin Daily Report (June 3)

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3 days ago

1. Trump Pushes for Cryptocurrency Inclusion in Pension Accounts, Faces Lawsuit Risks

For employers with a legal obligation to oversee employee 401(k) investments, potential lawsuit risks may hinder U.S. President Donald Trump's efforts to push for more cryptocurrencies to be included in employee retirement accounts. The U.S. Department of Labor has rescinded guidance from the Biden administration that warned corporate retirement plans to avoid allocating digital assets. This is part of a broader policy shift from the White House aimed at promoting the opening of 401(k) accounts to alternative assets, including private equity, especially as companies backed by Trump ramp up Bitcoin investments. Currently, cryptocurrencies account for less than 1% of the $9 trillion 401(k) market, which has traditionally been almost entirely focused on stocks and bonds. Note: "Benefit litigation" refers to legal actions taken by employees, retirees, or their representatives against employers, pension plan managers (trustees), or related entities regarding employee benefit plans such as pensions, 401(k)s, and healthcare. -Original

2. Hong Kong Reitar Logtech Announces Plan to Acquire $1.5 Billion in Bitcoin

3. Morgan Stanley Predicts Continued Weakness of the Dollar Over the Next Year

Odaily Planet Daily reports that Morgan Stanley research strategists Vishwanath Tirupattur and Serena Tang stated in a report that the continued weakness of the dollar over the next 12 months is a key theme for Morgan Stanley research. They said, "We expect the dollar to continue to weaken as U.S. interest rates and economic growth converge with peers." An increase in foreign exchange hedging flows has led to a further rise in risk premiums, which will increase selling pressure on the dollar. Other safe-haven currencies such as the yen, Swiss franc, and euro are expected to benefit from this. -Original

4. Strategy Increases Bitcoin Holdings Again, Exceeding 580,000 Coins

Strategy (formerly MicroStrategy) announced it will issue 2.5 million shares of 10% annual interest perpetual preferred stock "Stride" (STRD) to institutional and some non-institutional investors, raising funds to purchase Bitcoin and for general operations. Previously, it had issued "Strike" preferred stock with a 13% yield and "Strife" preferred stock with a 10% yield. STRD cannot be converted into common stock and has no maturity date. The company currently holds approximately 580,955 Bitcoins, valued at over $60 billion. -Original

5. Circle Plans IPO in the U.S., Valuation Reaches $7.2 Billion

Due to strong investor demand, Circle has increased the number of IPO shares and the price range. -Original

6. U.S. Senate May Vote on the GENIUS Act This Week, Focusing on Stablecoin Regulation

FOX Business reporter Eleanor Terrett stated that as amendment negotiations heat up, the U.S. Senate is preparing for a potential vote on the GENIUS Act. A recent poll has intensified pressure on U.S. lawmakers to act quickly. The Senate will resume work on Monday, with a vote scheduled for 5:30 PM Eastern Time on a Defense Department official nominated by Trump, but the real focus is behind the scenes: lawmakers are pushing for bipartisan cooperation on the GENIUS Act (a stablecoin legislation), with Republican leaders hoping the bill can pass in the Senate this week. According to informed sources, the bill's sponsors are working to reach a "unanimous consent agreement" to allow for a quick vote on a series of amendments without initiating a full procedural voting process (cloture). -Original

7. Consensys Acquires Web3Auth, Optimizing MetaMask Seed Phrase Management

Blockchain software development company Consensys announced the acquisition of wallet infrastructure provider Web3Auth, with the transaction amount undisclosed. This acquisition aims to enhance the user experience of its wallet MetaMask. Consensys stated that this move is particularly to address "one of the biggest risks" in self-custody — the issue of seed phrase management. According to data, about 35% of users do not back up their seed phrases, putting their funds at risk of loss. By integrating Web3Auth, MetaMask users will be able to create and recover wallets using familiar Web2 login methods (such as social accounts and device authentication) without manually backing up seed phrases, thereby reducing the risk of fund loss. -Original

8. Bitcoin ETF Sees Net Outflow of 7,157 Coins, ETH ETF Sees Net Inflow of 26,572 Coins

Today, 10 U.S. Bitcoin ETFs saw a net outflow of 7,157 BTC, with BlackRock experiencing an outflow of 4,113 BTC, currently holding 660,842 BTC valued at $6.888 billion; 9 Ethereum ETFs saw a net inflow of 26,572 ETH, with BlackRock inflowing 27,241 ETH, currently holding 1,417,021 ETH valued at $3.55 billion. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com).

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