BTC breaks through the $104500 mark

According to official data, in the seven days ending June 5th, Circle issued approximately 3.2 billion USDC, redeemed approximately 3.1 billion USDC, and increased circulation by approximately 100 million coins. The total circulation of USDC is 61.1 billion pieces, with reserves of approximately 61.3 billion US dollars, including cash of approximately 8.2 billion US dollars, and Circle Reserve Fund holding approximately 53.1 billion US dollars.

According to DL News, a new blockchain project called Stable is about to be launched, supported by cryptocurrency exchanges Bitfinex and USDT0, with consulting from Tether CEO Paolo Ardoino. The Stable blockchain will use USDT to pay transaction fees, and it is reported that the market positioning of this blockchain is financial institutions, not retail users. At present, it is not clear who is behind the project. The X platform only shows that the team is composed of "protocol engineers, fintech operators, and cryptocurrency founders".

According to Foresight News, ALEX, a DeFi protocol based on Stacks, reported that due to a self listing verification logic vulnerability, attackers extracted funds from multiple asset pools, resulting in a total loss of approximately $8.37 million. The specific losses are: STX loss of 8.4 million STX (approximately 5.69 million US dollars), sBTC loss of 21.85 sBTC (approximately 2.24 million US dollars), USDC/USDT loss of 149850 (approximately 149800 US dollars), WBTC/BTC loss of 2.80 WBTC (approximately 287400 US dollars). The ALEX Lab Foundation will use the national treasury to fully compensate each affected user for their losses, and the compensation will be paid in USDC. The compensation calculation will be based on the average on chain exchange rate between 18:00 and 22:00 on June 6, 2025. The affected wallet addresses will receive a private notification, including a claim form, before 7:59 am on June 9, 2025. The claim form must be submitted before 7:59 UTC on June 11, 2025, to confirm the receiving wallet address. After confirmation, the compensated USDC will be sent within 7 working days.

According to BlockBeats, on June 7th, the monthly transaction volume of Hyperliquid's perpetual contracts reached a historic high, with May's perpetual contract transaction volume exceeding $248 billion, a month on month increase of 51.5%. In contrast, the perpetual contract trading volume facilitated by Hyperliquid in May 2024 was only $26.3 billion, a year-on-year increase of 843%. 、 In addition, the ratio of monthly contract trading volume between Hyperliquid and centralized trading platform Binance has reached a historic high of 10.54%, surpassing the historical high of 9.76% in April.

According to Cointelegraph, ETF issuers VanEck, 21Shares, and Canary Capital have sent a letter to the US SEC urging the restoration of the "first come, first served" principle and approval of ETF applications in the order they are submitted to regulatory agencies. These companies argue that the SEC's failure to comply with the "first to file principle" (i.e. the default application approval process before the listing of cryptocurrency ETFs) has weakened healthy competition and hindered financial innovation.