Wu Says Zhou Highlights: Strategy Significantly Increases Probability of Selling Bitcoin, Security Experts Warn All DeFi Are Unsafe, Sui Network Continues to Crash and Top 10 News

Author | Wu Talks Blockchain

Top 10 News This Week

1. SEC Chair Atkins: The U.S. Will No Longer Push Crypto Entrepreneurs Overseas link

SEC Chair Paul Atkins stated that for too long, the SEC has been at odds with new technologies and innovations, leading entrepreneurs to move overseas, but "that era is over." He said the SEC will work with administrative agencies and Congress to provide much-needed regulatory clarity for the digital asset market.

2. Donald Trump: The U.S. Must Maintain CFTC’s Exclusive Regulatory Authority Over Prediction Markets, and Protect the Development of the Crypto Industry link

The U.S. President emphasized that maintaining the CFTC’s exclusive regulatory authority over prediction markets is "crucial," and predicted markets should continue to develop. He said that under his leadership, the U.S. is creating "rules" for the industry, setting a "gold standard" for states. He also stated that the crypto industry is an important sector, and the U.S. must protect its growth.

3. Sui Network Experiences Continuous Outages

On May 29, Sui officially announced that the mainnet experienced another failure, potentially pausing on-chain activity. The core team is investigating and will publish a post-mortem. Previously, on May 28, the Sui mainnet had already experienced a halt in block production and transaction suspension due to validator layer issues, lasting several hours.

4. ICE CEO: Hyperliquid Is Larger Than Nasdaq

Jeffrey Sprecher, CEO of ICE, Nasdaq’s parent company, said at the Bernstein conference that Hyperliquid "is bigger than Nasdaq, and only has 11 people." He stated that the Hyperliquid team is "very smart," and the scale of derivatives trading on SpaceX that they launched may "even surpass the IPO itself" in the future. Regarding regulation, Sprecher questioned, "Why can they do it and we can't?" and pointed out that Hyperliquid’s perpetual contracts are essentially regulated under Dodd-Frank in traditional finance.

5. CME to Launch 24/7 Bitcoin Futures Trading link

CME Group announced it will officially enter the around-the-clock crypto market, starting this Friday, with CME Bitcoin futures and options trading 24/7 on the Globex electronic platform, with only a 60-minute system maintenance pause from 18:00 to 19:00 UTC+8 every Sunday. This structural change means the long-standing "CME gap" caused by weekend closures will effectively disappear, as traders often exploited price dislocations between Friday close and Sunday open for arbitrage and position adjustments.

6. Strategy Deposits 411.48 BTC into Coinbase Prime, Worth About $30.3 Million link

Michael Saylor’s Strategy deposited 411.48 BTC into Coinbase Prime, valued at approximately $30.3 million. Additionally, on Polymarket, Strategy’s probability of selling BTC before December 31, 2026, has risen to 84%.

7. BitMine Listed on Preliminary Russell 1000 Inclusion List link

Thomas Lee, Chairman of BitMine, tweeted that FTSE Russell has released preliminary inclusion and exclusion lists. BitMine (BMNR) is on the preliminary inclusion list of the Russell 1000 large-cap index, with a market cap exceeding the minimum threshold of $5.7 billion for large-cap inclusion. Lee said many actively managed funds only buy Russell 1000 components, and an estimated 20-25% of a single stock’s market cap is usually held by passive index funds or ETFs.

Previously, Ethereum treasury company BitMine announced that as of May 25, Eastern Time, it held 5,390,404 ETH, about 4.47% of Ethereum’s total supply, an increase of 111,942 ETH from the previous week. The company’s crypto assets, cash, and “Moonshots” investments total about $12.3 billion, including roughly $443 million in cash, 203 BTC, $200 million in Beast Industries shares, and $95 million in ORBS shares. Additionally, BitMine has staked 4,712,917 ETH, worth approximately $10.1 billion at current prices. Chairman Tom Lee said that ETH’s current dip below $2,200 presents an "attractive opportunity."

8. Tether and Georgian Government Plan to Launch Lari Stablecoin GEL₮ link

Tether announced plans to launch a stablecoin pegged to the Georgian Lari, GEL₮, supported by the Georgian government, aimed at reducing transaction costs, enabling near real-time settlement, programmable payments, and digital financial value transfer. Georgia has advanced the development of a regulatory framework for digital assets and stablecoins, covering reserve management, redemption rights, issuer oversight, and AML compliance, seeking substantial compatibility with emerging U.S. stablecoin regulations including the GENIUS Act.

9. Vitalik: EF Will Shift Toward Smaller Scale and Clearer Responsibilities, Focusing on Ethereum’s Censorship Resistance, Privacy, and Security link

Vitalik Buterin said that the Ethereum Foundation (EF) will move toward a smaller, more long-term, and more clearly defined organizational structure, no longer acting as the "center" of the Ethereum ecosystem. He believes Ethereum should not solely pursue TPS and low latency but should differentiate itself through consensus security, formal verification, and reducing reliance on intermediaries. He also revealed that about 90% of his net worth remains in ETH, with the remaining roughly $40 million in on-chain fiat funds fully invested in open-source research and technology projects. Additionally, Vitalik mentioned that current smart contract wallets and privacy protocols overly depend on third-party relays, and he is promoting proposals like FOCIL, EIP-8141, and EIP-7701 to reconstruct the mempool and enable direct peer-to-peer transaction on-chain.

10. OpenZeppelin Founder Says All DeFi Is Now Unsafe link

Manuel Aráoz, co-founder of security firm OpenZeppelin, tweeted that due to the extreme asymmetry between attackers and defenders, he now believes "all DeFi" is unsafe, and has personally advised friends and family to exit all DeFi positions including blue-chip protocols like Aave, MakerDAO, and Compound. Aráoz pointed out that AI coding agents have surpassed human capabilities in finding vulnerabilities, and smart contract security is highly asymmetric—defenders must fix every bug, while attackers only need one to steal funds.

Stani Kulechov, founder of Aave, rebutted the "DeFi is unsafe" view, stating that current DeFi infrastructure is significantly more resilient than in previous cycles, partly benefiting from AI development. He said DeFi has improved in risk engines, lending market structures, formal verification, audits, bug bounties, oracles, automated monitoring, and circuit breakers, with AI also used by security researchers, auditors, and white-hat hackers to strengthen protocols. Kulechov added that some current risks stem from Web2 operational security, prompting many teams to enhance internal controls, infrastructure, and SOC2 compliance. Previously, Manuel Aráoz of OpenZeppelin stated that AI is good at finding bugs, but smart contract security remains highly asymmetric, leading him to believe "all DeFi is unsafe."

OpenZeppelin clarified that Aráoz’s views do not represent the company’s stance and that he left OpenZeppelin in 2019. The company also noted that most recent industry security incidents are due to operational security issues rather than smart contract vulnerabilities.

Key Funding Events

PopDEX announced $30 million in funding, led by Foresight Ventures link

Japanese stablecoin JPYC completed $32 million Series B funding link

OpenRouter raised $113 million in Series B, with CapitalG (Alphabet) leading the round link

Hyperliquid ecosystem Prop Trading platform Hypernova completed $3 million pre-seed funding link

Nasdaq-listed digital asset treasury company BNB Plus raised $4.1 million link

Cross-chain platform Squid completed $6 million strategic funding, led by North Island Ventures link

For more industry funding events, visit crypto-fundraising.info.