GateUser-e623ef4b

Wu Says has learned that Lorenzo Valente, ARK Invest’s research director, is skeptical about the recently launched stablecoin alliance “OpenUSD,” believing that this kind of consortium model is difficult to scale and unlikely to shake USDC and USDT’s market dominance. Valente noted that such projects face the problem of liquidity cold-start and lack trading pairings with the existing mainstream crypto market; its internal governance structure is also questionable, and the decision-making efficiency of an alliance made up of 500 competitors is low, and

Coin World News, Machi Huang Licheng reduced his long position on ETH by 310.00 coins, worth approximately $539,245.00.
Current position size is $1,869,960.00, with an average price between $1,578.53 and $1,578.66, current P&L is -$24,434.69 (-32.67%), current coin price is $1,558.30, liquidation price is $1,553.19.
This trader previously profited from blue-chip NFTs, but since October has suffered massive drawdowns, with funds shrinking from over a hundred million to hundreds of thousands of dollars.

Wu learned that security company Blockaid stated their detection engine identified a front-end attack affecting the Gitcoin subdomain files.gitcoin.co. The site was detected to contain Eleven Drainer wallet theft code. Blockaid recommends users not to interact with the site at this time and said the issue is under investigation and being fixed. Blockaid has marked files.gitcoin.co as a malicious website and warned that it contains known malicious code embedded within.

CryptoWorld News reports that Bitgo has announced the appointment of Angela Ang as President of Asia-Pacific and President of Bitgo Singapore. The digital asset infrastructure company stated that before taking on this role, Ang had already met all regulatory and suitability requirements. She will be responsible for driving business growth, market development, and operational infrastructure in the Asia-Pacific region, focusing on expanding institutional access to compliant digital asset services, including custody, wallets, trading, financing, settlement, staking, and stablecoin infrastructure. This appointment reflects Bitgo’s ongoing investment in Singapore and the broader region.

Crypto World News reports that the long position unrealized losses of the BTC OG insider whale have narrowed from $19.03M (-122.73%) to $16.99M (-106.79%).
The whale's average price is $76,117.30, the current price of Bitcoin is $62,720.95, the liquidation price is $26,190.46, and the position size is $79,551,231.38.
This address once held over 50k BTC, and after being dormant for 8 years, it gradually swapped some BTC for ETH.
Its operations are highly synchronized with Trump’s statements and US policy trends.

CryptoWorld News reports that Treasury Capital ($BTCB) has announced the launch of Sweden’s first Bitcoin-backed preferred stock (BTC Pref), with an annual interest rate of 10%. The preferred stock is expected to begin trading on the Spotlight stock market on July 20, and the issuance is expected to raise $2.5 million to purchase more Bitcoin.

CoinWorld News reports that the survival of the Clear Bill depends on the U.S. Senate completing a significant amount of non-crypto work at some point. Progress on the Digital Asset Market Clear Bill has become an intractable mathematical problem, with not enough time in the Senate's legislative calendar to pass the bill. Nevertheless, the bill has been officially scheduled on the Senate calendar, and industry lobbyists are still fighting for a last-minute victory. The Senate has about eight weeks before the summer recess, and as election season approaches, the willingness for legislative cooperation may be affected. The Clear Bill requires several procedural steps, which can only begin after the finalization of the Market Structure Bill. The bill aims to establish a tailored regulatory framework for cryptocurrencies in the U.S. and has garnered significant bipartisan support. Despite this, many Senate affairs are competing for time and attention.

BlockBeats reports on May 31st that Bitcoin rebounded from the key support level of approximately $71,400, which is the cost basis for holders of 3–6 months, indicating strong short-term support. If the rebound continues, the target could be up to $78,200, corresponding to the cost basis for holders of 6–12 months. Glassnode points out that since 2017, after breaking through the 3–6 month cost line, the 90-day increase has been about 21.9%, and the 180-day increase about 36.6%. At the current price of approximately $74,000, the targets are around $90,200 and $101,100. The daily chart still shows a bearish flag pattern; if the support line is broken, the price may fall back to $50,000–$60,000.