BTC breaks through the $106000 mark

BlockBeats News: On May 20th, according to ai_9684xtpa, it was revealed that James Wynn, a well-known trader who opened a position of 568 million US dollars in BTC with over 40 times the order and made a profit of 38.78 million US dollars in the past two months, had a unique style. James Wynn once earned $25 million with only $7000 in principal. He is a lover of contract and Meme token trading, with a preference for large positions and high leverage. He loves to place orders, but is suspected of pulling high and cutting fans. James Wynn's X profile is "World renowned gambling dog, I love leverage, I love memes, but my favorite thing is still winning money". Starting from April 2023, after registering an X account, the first token to call for was PEPE, and eventually became a well-known trader due to the record of "earning $25 million with only $7000 in principal". Recently, James Wynn opened a position on Hyperliquid using the address 0x507... bedb6, and has accumulated a profit of $38.78 million (of which $26.04 million is still a floating profit) over the past two months from March 21st, with a winning rate of 46.88%. The top 3 profitable targets in settled positions are TRUMP, FARTCOIN, and PEPE. James Wynn's contract style is "large position+high leverage+high frequency". Currently, the BTC position that has not been settled is more than 40 times the amount of orders, and the PEPE position is more than 10 times the amount of orders. The previous positions in knockoff and Meme are also mostly based on the leverage ratio of the hyperliquid top tier. James Wynn's opening or opening of positions is often accompanied by shouting orders, although recent BTC multi orders seem to be a combination of knowledge and action, and he has repeatedly stated that "BTC at $100000 is very cheap". But in April 2024, James Wynn frequently placed orders for ELON, attracting a group of KOLs and retail FOMOs to enter the market. Later, he quietly cleared his position through his small account, causing ELON to plummet by 70% in a short period of time, and the copycats lost all their money.

Coinbase CEO Brian Armstrong tweeted that the US Senate stablecoin bill GENIUS Act has successfully crossed the first procedural voting threshold, marking a "major victory for cryptocurrency and on chain innovation. The bill has received support from 16 Democratic lawmakers and has been passed in conjunction with the Republican Party. It will enter the stage of debate and revision, taking a crucial step towards final legislation. Previously, Coinbase executive Faryar Shirzad stated that the bill is demonstrating a bipartisan consensus trend on cryptocurrency issues in the US political arena.

According to Foresight News, Bo Hines, Executive Director of President Trump's Digital Asset Advisory Council, tweeted that the final bipartisan vote is an important step towards safeguarding the future of American finance. The GENIUS Act will consolidate the dominance of the US dollar, upgrade our payment system, and enable the United States to lead the world in digital asset innovation. Now is the time to consolidate the leadership position of the United States and pass this historic legislation

According to the official website of the SEC, US SEC Commissioner Caroline A. Crenshaw gave a speech at the "SEC Speaks" conference, warning that the current regulatory environment is entering a "dangerous building block game", continuously weakening key rules and enforcement, which may shake the market foundation. She pointed out that phenomena such as lax regulation of stablecoins, withdrawal of enforcement, and staff turnover may repeat the regulatory failures before the 2008 financial crisis, ultimately causing ordinary investors to pay a price. Crenshaw calls for a restoration of emphasis on the integrity of the SEC system to avoid future mistakes.

Odaily Planet Daily News: According to Onchain Lens monitoring, a giant whale deposited 186002.69 SOLs worth approximately $31.08 million into Coinbase after staking for 10 months. The giant whale initially pledged 174479.2 SOLs worth $31.9 million, during which it gained a profit of 11540 SOLs, but still incurred an overall loss of approximately $823000.