1. CEX Hot Coins

CEX Trading Volume Top 10 and 24-Hour Price Changes:

• BTC: - 2.86%

• ETH: - 6.85%

• SOL: - 5.21%

• PEPE: - 9.43%

• XRP: - 4.75%

• DOGE: - 8.89%

• SUI: - 6.29%

• BNB: - 4.7%

• TRX: + 1.94%

• TRUMP: - 9.32%

24H Price Increase Rankings (Data Source: OKX):

• RVN: + 31.92%

• CXT: + 6.64%

• HUMA: + 4.09%

• MASK: + 2.16%

• TRX: + 1.93%

• JST: + 1.27%

• HMSTR: + 0.25%

• ZKJ: + 0.13%

1. 24H Hot Search Coins

Cudis (CUDIS): Binance Alpha's latest exclusive TGE project, see “TGE Launches on Binance Wallet, CUDIS 'Three Carriages' Set Off Together, New Breakthrough in the Crypto Health Track”.

Headlines

Content of the US-China Leaders' Call: Both Sides Should Make Good Use of the Established Economic and Trade Consultation Mechanism to Strive for Win-Win Results

Odaily Planet Daily reports that during the call between the US and Chinese leaders, Xi Jinping pointed out that based on the US proposal, the economic and trade leaders of both countries will hold talks in Geneva, marking an important step towards resolving economic and trade issues through dialogue and consultation, which has been widely welcomed by various sectors in both countries and the international community, proving that dialogue and cooperation are the only correct choices. Both sides should make good use of the established economic and trade consultation mechanism, uphold an equal attitude, respect each other's concerns, and strive for win-win results. In this regard, China is sincere and principled. (CCTV News)

Musk Criticizes Trump's Tax Cut Plan, Claims It Will Lead to "Debt Slavery"

Odaily Planet Daily reports that Tesla CEO Elon Musk publicly criticized the comprehensive tax cut plan recently introduced by the Trump administration, claiming it will lead to "debt slavery," and hinted that Bitcoin (BTC) should become the US reserve currency. The plan will add $2.4 trillion in national debt and cut $3.75 trillion in taxes, which is expected to result in 7.8 million people losing health insurance eligibility. Musk called the plan a "disgusting monster" and attached an American flag emoji in response to Coinbase CEO Brian Armstrong's comments on Bitcoin. (Reuters)

Trump: Disappointed in Musk

Odaily Planet Daily reports that US President Trump stated that even without Musk, he could win Pennsylvania, expressing disappointment in Musk, whom he had helped a lot. Musk's dissatisfaction stems purely from the cancellation of the electric vehicle sales mandate. He hasn't spoken ill of me yet, but that will happen soon. (Jin10)

Musk Says Trump Is "So Ungrateful"

Odaily Planet Daily reports that Musk posted: "Without me, Trump would lose the election, the Democrats would control the House, and the Republicans would be at a disadvantage of 51 to 49 in the Senate. Truly ungrateful."

Trump Says Government Subsidies to Musk Should Be Terminated to Save Billions

Odaily Planet Daily reports that Trump posted on Truth Social that the simplest way to save the budget is to terminate government subsidies and contracts to Elon Musk, "which would save billions. I have always been surprised that Biden hasn't done this!"

Musk: Trump Appears in Epstein-Related Documents

Odaily Planet Daily reports that Musk posted on X, "It's time to drop the real bomb: Trump appears in Epstein's documents. This is the real reason these documents have not been made public. Have a great day, DJT!"

Trump Says He Doesn't Mind Musk's Opposition, Emphasizes That If the Bill Fails, There Will Be a 68% Tax Increase

Odaily Planet Daily reports that Trump stated on his social media platform today that he doesn't mind Musk's opposition, but his position should have been made clear months ago. He called the current bill submitted to Congress "one of the greatest bills in history," including record spending cuts of $1.6 trillion and the largest tax cuts in history. Trump warned that if the bill fails, taxes will increase by 68%, "and there are worse things than this." He emphasized that he is not creating chaos but is committed to fixing problems and making the country great again, calling for "Make America Great Again."

Musk: Trump Should Be Impeached

Odaily Planet Daily reports that Musk shared a tweet discussing "Trump should be impeached and replaced by JD Vance," commenting, "Yes."

Musk: Trump's Tariffs Could Lead to Economic Recession in the Second Half of This Year

Odaily Planet Daily reports that Musk posted on X, stating that Trump's tariff policy will lead to an economic recession in the second half of this year.

Former Senior Advisor to Trump Calls for Musk's Deportation

Odaily Planet Daily reports that former senior advisor and chief strategist to President Trump, Steve Bannon, called for Musk's deportation after the US President and the billionaire had a spat on social media. Bannon said in a phone interview with The New York Times, "They should conduct a formal investigation into his (Musk's) immigration status because I firmly believe he is an illegal immigrant and should be deported immediately." He also urged the Trump administration to cancel all government contracts with Musk's companies and investigate his alleged drug use.

Due to Falling Out with Trump, Tesla Experiences Largest Single-Day Drop in History, Musk's Stock Value Shrinks by Over $19.5 Billion

Odaily Planet Daily reports that due to Musk's falling out with Trump, Tesla's stock dropped over 14%, with a market value loss of $153 billion, marking the largest single-day drop in history. Musk holds about 12.8% of Tesla's stock, and as a result, this portion of his stock value has shrunk by over $19.5 billion.
According to Yahoo Finance data, Tesla's after-hours stock price is currently reported at $286.99, showing a slight rebound.

Industry News

Circle After-Hours Price at $87.71, Daily Trading Volume Exceeds $47 Million

Odaily Planet Daily reports that according to Yahoo Finance data, Circle's first-day listing saw a price increase of 168.48%, closing at $83.23, with an after-hours price of $87.71 and a daily trading volume of $47.109 million.

Binance Alpha Points Rule Update: Only Purchases Using Alpha Tokens or Tokens Listed on the Spot Market Will Earn Trading Volume Points

Odaily Planet Daily reports that Binance Wallet has updated the Binance Alpha points rules. Starting from June 6 at 8:00, only purchases made using Binance wallet tokens or tokens listed on the Binance spot market will qualify for Alpha trading volume points. Transactions using any other tokens will not be counted, and selling Alpha tokens will not affect trading volume points.

WLFI Issues Warning Letter to FIGHT FIGHT FIGHT LLC

Odaily Planet Daily reports that WLFI has issued a cease and desist letter to the Trump-themed meme project FIGHT FIGHT FIGHT LLC, demanding that they stop developing the "TRUMP Wallet" related business.

Truth Social Submits Bitcoin ETF S-1 Registration Statement

Odaily Planet Daily reports that Trump’s social platform Truth Social has submitted a Bitcoin ETF S-1 registration statement to the US Securities and Exchange Commission.

Binance Has Airdropped an Additional 1,860 Tokens to Users Who Successfully Claimed EDGEN

Odaily Planet Daily reports that Binance announced that it has airdropped an additional 1,860 EDGEN tokens as rewards to users who successfully claimed the EDGEN token.

Project News

TRUMP Wallet Official Website's Associated X Account Frozen Again

Odaily Planet Daily reports that the X account @TrumpWalletApp associated with the TRUMP wallet official website has been frozen again. Previously, the TRUMP wallet X account @TrumpWalletApp was briefly frozen before returning to normal. The official information on the TRUMP wallet website indicates that the wallet was developed in collaboration with Magic Eden and the TRUMP Meme official team. However, Donald Trump Jr., Trump's eldest son, stated that the Trump Organization has no connection to this wallet product, and WLFI will launch an official wallet.

Yuga Labs CEO Plans to Dissolve ApeCoin DAO, Claims It Is Wasting Resources

Odaily Planet Daily reports that Yuga Labs CEO Greg Solano recently proposed to dissolve the ApeCoin DAO and transfer its assets and responsibilities to a new entity called ApeCo created by Yuga Labs. Solano criticized that the ApeCoin DAO "has evolved from a commitment into a slow, noisy, and unserious governance performance," with resources wasted on "vanity proposals and low-impact plans."
The new entity will focus on supporting high-quality projects and strengthening the three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside. If the proposal passes, ApeCoin holders will lose all governance rights. This move is part of Yuga Labs' strategic restructuring, as the company has recently sold IPs of NFT projects like Moonbirds and CryptoPunks to refocus on its core business. (Decrypt)

Regulatory Policies

US Initial Jobless Claims Data Exceeds Expectations

Odaily Planet Daily reports that the number of initial jobless claims in the US for the week ending May 31 was recorded at 247,000, higher than the market expectation of 235,000, marking the highest level since the week of October 5 last year. (Jin10)

Investment and Financing

BitMine Completes $18 Million Financing Through Stock Issuance, Net Proceeds to Be Used for Bitcoin Purchases

Odaily Planet Daily reports that Bitcoin mining company BitMine Immersion Technologies (NYSE American: BMNR) announced the completion of a public offering of 2.25 million shares, priced at $8 per share, raising a total of $18 million. The company plans to use the net proceeds to directly purchase Bitcoin.
Additionally, BitMine's stock has been approved for listing on the NYSE American on June 5, with the stock code "BMNR," while trading on the original OTCQX market will be terminated simultaneously. (GlobeNewswire)

DA Layer Interoperability Protocol Sunrise Completes $3 Million Seed Round Financing, with Participation from Decima and Others

Odaily Planet Daily reports that the DA layer interoperability protocol Sunrise has completed a $3 million seed round financing, with participation from Decima, Animoca Brands Japan, Hyperithm, Cogitent Ventures, MZ Web3 Fund, V3V Ventures, Connectico Capital, MH Ventures, and others. The new funds are intended to support the integration of data availability layer and liquidity center functions into a single platform supported by Proof-of-Liquidity for liquidity sharing.

DeFAI Project HeyElsa Completes $3 Million Financing, Led by M31Capital

Odaily Planet Daily reports that the DeFAI project HeyElsa has announced the completion of $3 million in financing, with this round led by M31Capital and participation from Coinbase Ventures' Base Ecosystem Fund, MHVentures, AbsolutaDigital, 2sharesfund, levitatelabs, and others. The funds will be used to build an AI stack in the crypto space, converting natural language into on-chain operations and bridging the gap between SDKs, APIs, and infrastructure.

Voices

Binance CEO: Binance Holds Nearly 59% of Centralized Exchange Stablecoin Reserves

Odaily Planet Daily reports that Binance CEO Richard Teng stated on the X platform that CryptoQuant's latest data reveals that Binance holds nearly 59% of the centralized exchange stablecoin reserves, valued at approximately $31 billion.

Arthur Hayes: A "Crypto IPO Frenzy" May Arrive in 2025-2027

Odaily Planet Daily reports that Arthur Hayes stated on social media today that the market has completed a "cycle," and the spirit of the 2017 ICOs has now transformed into a crypto IPO boom expected in 2025-2027. "This is the beginning of a frenzy that will ultimately end with an IPO that attracts massive fiat capital, only to crash on opening day like EOS."

Cryptoquant Analyst: Current Bull Market Cycle May Be Deliberately Extended, Ultimately Leading to Bubble-like Frenzy

Odaily Planet Daily reports that Cryptoquant analyst Crypto Dan stated that the current bull market cycle in the crypto market shows significant differences in trends compared to 2017 and 2021. Although it also experienced short-term pullbacks and rises early on, since 2024, Bitcoin has repeatedly experienced strong surges followed by rapid declines, during which altcoins generally performed poorly, and market sentiment was dampened.
He pointed out that this "rise-suppress" repetitive pattern may be a deliberate suppression of overheating by market leaders to extend the overall cycle time. This phenomenon was relatively rare in previous bull markets and may indicate that the current cycle will enter a bubble-like climax phase driven by sentiment in the future.

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