U.S.A.P.D. 122,000 PEOPLE, THE BIGGEST INCREASE SINCE LAST JANUARY

1. UNITED STATES ADP EMPLOYMENT IN MAY 122,000, THE LARGEST INCREASE SINCE LAST JANUARY

IN THE UNITED STATES IN MAY, ADP EMPLOYED 122,000 PEOPLE, THE LARGEST INCREASE SINCE LAST JANUARY, WITH AN EXPECTED 117,000 PEOPLE, THE PREVIOUS VALUE OF 109,000。

2. Binance United States and ETF clauses disclosure of Alpaca revenue-sharing and minority equity arrangements

In the recent period, Binance has clearly disclosed income-sharing arrangements with Alpaca under article 11 of the Securities Trading Products Clause, including 50 per cent of the purchase-flow payments (PFOFs) received by Binance; users have the option of lending fully owned securities to institutional borrowers (for short-term, market-making, etc.), and Alpaca receives a loan remuneration and after paying interest to users, Binance receives 65 per cent of Alpaca ' s remaining excess income. In addition, it is disclosed in this provision that Binance holds minority shares in Alpaca。

3.5 The number of futures transactions on the encrypted exchange dropped to $2.9 trillion per month, reaching a new low of 12 months

IN MAY, THE VOLUME OF FUTURES TRADED ON THE MAIN ENCRYPTED EXCHANGE DROPPED TO ABOUT $2.9 TRILLION, A LOW OF NEARLY 12 MONTHS, AND THE LOWEST SINCE THE END OF 2023, REFLECTING THE OVERALL COOLING DOWN OF SPECULATIVE ACTIVITY IN THE ENCRYPTED MARKET. MEANWHILE, THE UNITED STATES CFTC HAS OFFICIALLY OPENED UP REGULATORY ACCESS TO THE U.S. MARKET FOR SECURE AND SUSTAINABLE CONTRACT PRODUCTS. THE REPORT ARGUES THAT MORE IMPORTANT THAN TRADE ACCESS PER SE IS THE POTENTIAL FUTURE FOR INSTITUTIONAL ENGAGEMENT, COMPLIANCE INFRASTRUCTURE DEVELOPMENT AND UNITED STATES-OWNED LIQUIDITY DEVELOPMENT, BUT IT REMAINS TO BE SEEN WHETHER THE REGULATED PLATFORM IN THE UNITED STATES CAN COMPETE WITH OFFSHORE EXCHANGES IN TERMS OF LIQUIDITY AND TERMS OF DEALING。

4. WSJ: Hyperliquid is becoming an important entry point for Wall Street traders to secure their weekend transactions and renew their traditional asset contracts

According to the Wall Street Journal, Hyperliquid is becoming an important entry point for some Wall Street traders to trade in encryption and the renewal of traditional asset contracts over weekends and off-trading periods, covering contracts related to unlisted or traditional financial assets such as BTC, S& P 500, crude oil and SpaceX, with a total revenue of approximately $800 million last year. WSJ states that Hyperliquid is currently prohibited for use by United States residents, but that some of the restricted area traders are still visiting through VPN, but its vast community culture and diversified asset choices are driving its further expansion to forecast markets and options trading。

5. UK FCA: FOOTBALL CLUB WORKS WITH UNAUTHORIZED ENCRYPTION PLATFORMS OR FACES LEGAL AND MONEY LAUNDERING RISKS

THE BRITISH FINANCIAL CONDUCT REGULATORY AUTHORITY (FCA) WARNS FOOTBALL CLUBS, INCLUDING BRITISH SUPER CLUBS, OF THE POSSIBILITY OF LEGAL LIABILITY, MONEY LAUNDERING RISKS AND REPUTATIONAL DAMAGE IF SPONSORED AGREEMENTS ARE CONCLUDED WITH UNAUTHORIZED ENCRYPTION COMPANIES AND TRADING PLATFORMS. FCA CLAIMS THAT PART OF THE UNAUTHORIZED COMPANY MAY HAVE VIOLATED BRITISH FINANCIAL PROMOTION RULES BY SPONSORING THE DISTRIBUTION OF PRODUCTS TO FANS WITH HIGH-PROFILE FOOTBALL; THE FCA HAS WRITTEN TO THE CLUBS CONCERNED REQUESTING ENHANCED SCRUTINY OF THE PARTNERS。

Bloomberg Moderator: The current encrypted winter is probably the "coldest one"

In his newsletter, the Bloomberg Odd Lots host Joe Weisenthal said that it might be "the coldest encrypted winter." In his view, the encryption market was facing multiple narrative pressures, including the difficulty of establishing the term “still early”, the fact that institutional adoption and regulation had largely materialized, the rush of AI to crowd out electricity resources and market attention, the security concerns of Bitcoin with quantum computing, and the fact that some DAT companies, such as Strategy, had moved from buyer to seller. Weisenthal also claims that other markets, such as AI and the Science and Technology Unit, are strong and are taking away money and attention; and that a small number of the winners in the encryption market may have completed their journey ahead of schedule。