## Today’s Market

BTC price $64,819.74, down 2.20% in 24 hours;

ETH price $1,827.11, down 2.35% in 24 hours;

XRP price $1.206, up 0.30% in 24 hours;

BNB price $626.63, down 3.32% in 24 hours;

SOL price $72.121, down 2.28% in 24 hours;

TRX price $0.33343, up 0.06% in 24 hours;

DOGE price $0.09200, down 0.33% in 24 hours;

HYPE price $74.770, up 8.89% in 24 hours.

## News Highlights

### Trump says US-Iran agreement may be reached this weekend

Jiebi.com reports that, on the 3rd, U.S. President Trump said to the media at the White House that negotiations between the United States and Iran are progressing well, and that an agreement could be reached this weekend. Trump said, “I hear the negotiations themselves are going very smoothly—actually quite smoothly... If we can reach an agreement, it might be revealed this weekend.” When asked whether the U.S.-Iran ceasefire agreement is still in effect after Iran’s latest attack on Kuwait, Trump said, “Everything happens for a reason.” He added that the U.S. military conducted a fairly intense strike against Iran during the night the day before yesterday, “so some things happen for a reason, and those reasons usually make sense.” He also said that Iran’s action “is not a big deal,” and claimed, “We have control of the situation, and we quickly put a stop to it at the bud.”

### The U.S. House passes a resolution limiting President Trump’s war powers against Iran

Jiebi.com reports that the U.S. House of Representatives has passed a resolution limiting U.S. President Trump’s war powers against Iran.

### Federal Reserve’s Logan: The Fed may need to raise interest rates this year to curb inflation

Jiebi.com reports that Federal Reserve official Logan said it may be necessary to raise interest rates later this year to bring the inflation rate down to the 2% target level. She noted that the U.S. labor market is “broadly in balance,” investments in the artificial intelligence sector are booming, and the financial environment remains “accommodative.” However, she added that the current inflation trend does not seem to be heading back toward the Fed’s 2% goal. Logan said these conditions indicate that current monetary policy is not having a restraining effect on the economy, and what she is increasingly concerned about is that raising interest rates may be needed to fully restore price stability.

### Federal Reserve Beige Book shows employment stable across districts, inflation rising

Jiebi.com reports that the Fed’s latest Beige Book states that employment conditions remain stable across regions and that the pace of economic activity growth is relatively slow to moderate. Meanwhile, inflation levels in most Fed districts are higher than in the previous report, mainly driven by the impact of the Middle East war on energy prices. Since the outbreak of the Iran war, the increase in energy prices has raised concerns about persistent inflation, leading more policymakers to believe that all policy options should be kept on the table, including the possibility of adopting a more contractionary monetary policy. However, many officials said that the current interest-rate environment is still relatively favorable.

### Federal Reserve May Beige Book: U.S. economic activity grows modestly in May

Jiebi.com reports that, according to Wu said, the Fed’s May Beige Book shows that U.S. economic activity overall is growing at a slight to moderate pace; consumer spending continues to diverge, with consumption among high-income groups remaining relatively stable, while spending among middle- and low-income households has become more cautious due to affordability pressures.

## Crypto Developments

### U.S. Treasury Secretary: Promoting the establishment of a Bitcoin strategic reserve

Jiebi.com reports that U.S. Treasury Secretary Scott Bessent said the U.S. is advancing the establishment of a strategic Bitcoin reserve at a “prudent pace.” At the same time, he called on lawmakers to support the “Clear Law,” hoping to pass major crypto market-structure legislation in the summer. Currently, the government is advancing the Bitcoin reserve plan and crypto regulation in parallel.

### Helium Mobile acquired by Noble Mobile; HNT network remains intact

Jiebi.com reports that Helium Mobile has been acquired by U.S. telecom startup Noble Mobile, which was founded by former presidential candidate Andrew Yang. The acquisition did not affect the operational structure of the Helium network or its native HNT token. Noble Mobile will take over Helium Mobile’s wireless service business and gain the existing user base and network relationships, allowing traffic to be routed through Helium’s decentralized wireless infrastructure. The deal has sparked discussion in the community, with some users questioning whether decentralized projects can be sold effectively. Nova Labs and Helium executives clarified that this transaction involves only Helium Mobile and does not include ownership of the Helium network. Noble Mobile currently operates by leasing spectrum from T-Mobile and promises to use connectivity provided by the Helium network. The Helium ecosystem consumes approximately $50,000 worth of data credits each day; the data credits are generated by burning HNT, and ongoing network usage drives token demand.

### Chainalysis: AI agents have processed over 100 million transactions based on on-chain payment activity

Jiebi.com reports that, according to Chainalysis, AI agents have processed more than 100 million transactions in on-chain payment activity. Currently, transfers of more than $1 account for 95% of the total value of x402 transactions, a significant increase from 49% at the beginning of 2025. This indicates that x402 is moving beyond small payments and shifting toward higher-value proxy payments.

### Coinbase considering launching a new stablecoin platform; Circle’s stock under pressure

Jiebi.com reports that, according to CoinDesk, the stocks of Coinbase and Circle came under pressure after CoinDesk reported that Coinbase is evaluating whether to participate in a new stablecoin platform supported by Stripe, Visa, and Mastercard. Circle’s stock fell 4% in Tuesday’s early trading, while Coinbase fell 1.4%. During this period, Bitcoin’s price declined 2.8% within 24 hours, trading near $66,800. Circle’s business is closely tied to USDC; in 2025, Circle earned $2.64 billion in revenue from USDC-supported assets.

### Solana X402 ecosystem’s total trading volume surpasses $50 million in May

Jiebi.com reports that in May, the Solana X402 ecosystem’s total trading volume exceeded $50 million, with the number of active senders surging by 645%, nearing 192,000, as AI agent payments continue to accelerate.

## Opinions

### Dario: The AI bubble may burst due to cash pressure, not technical failure

Jiebi.com reports that, according to Bloomberg, Bridgewater Associates founder Ray Dalio warned in a television interview that the AI investment boom may burst when investors need real cash, rather than due to disappointment with the technology itself. He pointed out that bubbles typically end when investors holding valuable assets are forced to convert paper gains into spendable cash. Dalio said the risk brought by artificial intelligence lies in how financial markets fund the rapid growth of wealth. He believes investors often confuse wealth with cash; private companies may obtain a valuation of one billion dollars after raising less capital, but unless they sell shares, that valuation cannot be spent. Dalio also mentioned that major technological shifts usually create bubbles because investors find it difficult to accurately assess opportunities. He expects that Alphabet, Amazon, Meta, and Microsoft may spend about $650 billion on AI infrastructure in 2026, while in 2025 the figure is about $410 billion. Dalio linked this investment scale to fragile market conditions, noting that the growth rate of paper wealth may far outpace the money supply, forcing investors to sell assets when paying debts, tax bills, or withdrawing funds.

### Blockstream CEO Adam Back: Bitcoin liquidity is strong; no need to hold large cash reserves

Jiebi.com reports that Blockstream CEO Adam Back said in an interview with Bloomberg that Strategy’s Bitcoin sales prove Bitcoin’s liquidity, and there is no longer a need to maintain large cash reserves. He noted that this move shows the market how to evaluate Bitcoin’s value.

### Scott Bessent: Looking forward to working with legislators to advance the strategic Bitcoin reserve

Jiebi.com reports that U.S. Treasury Secretary Scott Bessent said he looks forward to working with legislators to advance the strategic Bitcoin reserve. He noted that, “We are moving at all prudent speeds and making sure to use best practices to ensure future sustainability.”

### Ferraioli: Bitcoin losing momentum in trading, not due to Saylor

Jiebi.com reports that Charles Schwab analyst Jim Ferraioli said that Bitcoin is not collapsing because of Michael Saylor’s strategy; it has instead lost momentum in trading. He pointed out that since last October, Bitcoin has been in a bear market, and although the past year has brought spot ETF approvals and inflows of billions of dollars in institutional capital, Bitcoin has still struggled to sustain the expected explosive rebound. Ferraioli believes capital flowing into other asset classes—such as precious metals and artificial intelligence—has created competition for Bitcoin. He said investors typically chase momentum, and that momentum is no longer present in the crypto market.

### Citi: ETF fund flows matter more than Strategy’s BTC sales

Jiebi.com reports that Citi said Strategy’s Bitcoin sales are for a tax optimization plan and do not change Saylor’s overall BTC strategy. The bigger issue is demand: spot Bitcoin ETFs have set record outflows for 11 consecutive days. Citi estimates that ETF fund flows explain about 45% of weekly BTC price fluctuations.