Wu Says Daily Selected Crypto News - The US announced that non-farm payroll employment increased by 172k after May's seasonal adjustment, with an unemployment rate of 4.3%

1. The United States announces that, in May, seasonally adjusted non-farm payroll employment increased by 172k, and the unemployment rate held at 4.3%

The United States announced that in May, seasonally adjusted non-farm payroll employment increased by 172k, exceeding market expectations; the unemployment rate remained unchanged at 4.3%. Leisure and hospitality, local government, and healthcare industries saw the largest job gains, while employment in the financial activities industry decreased by 22k. The non-farm employment data for March and April were collectively revised upward by 93k. Average hourly earnings increased 0.3% month-over-month and 3.4% year-over-year.

2. The Hong Kong Monetary Authority establishes a tokenized bond expert group

The Hong Kong Monetary Authority announced the establishment of a tokenized bond expert group, with members including representatives from industry associations, financial institutions, legal advisory firms, financial infrastructure, and technology providers. The expert group will discuss policy measures, market conventions, and innovative solutions, and it already held a first round of discussion in May on the application of Hong Kong’s current legal and regulatory framework in the issuance and trading of tokenized bonds. The HKMA said that the relevant feedback will serve as a reference for its study—together with the Financial Services and the Treasury Bureau—of potential optimization measures, in order to promote the application of tokenization technology in the fixed income market.

3. Deribit: If BTC falls below $60k or triggers institutional selling and a derivatives liquidation cascade

Deribit Chief Business Officer Jean-David Péquignot said that $60k is not only an important psychological level for Bitcoin, but also the lower end of institutional investors’ cost range. Over the past year, many ETF investors and institutional positions have concentrated their costs between $60k and $67k; if BTC falls below $60k, the widening of paper losses could trigger further selling. In addition, on Deribit, the open interest (nominal value) of put options with a $60k strike price exceeds $1.2 billion. The hedging actions by market makers could further exacerbate the decline, and the risk of liquidating leveraged long positions may also amplify market volatility.

4. Zcash founder Zooko discloses details of the Orchard serious forgery vulnerability

Zcash founder Zooko posted that security researcher Taylor Hornby found a serious forgery vulnerability in the Zcash Orchard pool on May 29 and disclosed it to Zcash Open Development Lab (ZODL). ZODL subsequently coordinated an urgent response with the ecosystem, and the remediation was completed on June 2. Shielded Labs said the vulnerability is real and exploitable; the exploit program written by Taylor in a local testing environment can generate unlimited and undetectable forgeries of ZEC. Because of Orchard’s privacy attributes, it is not possible to prove whether the vulnerability was exploited before the fix using cryptography alone, but it believes the likelihood of prior exploitation is low. Shielded Labs is exploring a network upgrade proposal to deploy a new shielded pool and perform turnstile accounting for all tokens from the Orchard pool, thereby enabling anyone to verify the integrity of the Zcash supply and prove that no forged ZEC exists in the Orchard pool.

5. Korean police investigate Polymarket’s domestic users for suspected illegal gambling for the first time

Korean police are investigating users in South Korea of the prediction market platform Polymarket for suspected illegal gambling. The Gangwon Provincial Police Agency is conducting the investigation on behalf of the Police Agency headquarters, marking South Korea’s first investigation into Polymarket’s domestic users. Under current Korean law, betting on platforms other than Sports Toto operated by the Korea Sports Promotion Foundation is illegal; relevant users may face fines of up to 10 million South Korean won under Article 246 of the Criminal Act. Reports say that Polymarket can currently be accessed without bypassing an IP, and Korean users can place bets using USD stablecoins. It previously launched predictions related to the June 3 local elections, with betting volumes reaching hundreds of billions of South Korean won.