Headlines
▌ OpenAI launches faster and cheaper AI models for all users
OpenAI has launched a faster and cheaper artificial intelligence model to power its chatbot ChatGPT. In a live event on Monday, OpenAI unveiled its new large language model, GPT-4o. This is an updated version of its GPT-4 model, which has been around for more than a year. The model is trained on a large amount of data from the internet, is better at processing text and audio, and supports 50 languages. The new model will be available to all users, not just paying customers. The release of GPT-4o is expected to shake up the fast-moving field of artificial intelligence, where GPT-4 remains the gold standard. OpenAI's release of the new model also comes a day before Google's I/O developer conference. Google, an early leader in the field of artificial intelligence, is expected to use the event to release more AI updates to catch up with OpenAI, which is backed by Microsoft Corp.
▌ PEPE briefly broke through $0.000011, setting a new record high
The market shows that PEPE briefly broke through 0.000011 US dollars, and reached a short-term high of 0.0000119 US dollars, setting a historical high. As of press time, it has fallen back and is currently quoted at 0.00001075 US dollars. The intraday increase has reached 22.93%. The market fluctuates greatly, so please do a good job of risk control.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $62,894.44, with a daily fluctuation of +2.3 % ;
ETH's latest transaction price is $2949.03, with a daily change of +0.7 % ;
BNB's latest transaction price is $591.57, with a daily change of -0.6 % ;
SOL's latest trading price is $147.33, with a daily change of +2.7 % ;
DOGE's latest trading price is $0.1485, with a daily change of +4.9 % ;
XPR recently traded at $0.5049, with a daily change of +1.0 % .
policy
▌Biden bans Chinese-backed crypto mining companies from owning land near US missile bases
U.S. President Joe Biden issued an order barring a cryptocurrency mining company majority-owned by Chinese investors from owning land near an Air Force base in Wyoming and requiring the land to be sold, according to a statement from the U.S. Treasury Department on Monday.
▌U.S . CFTC and Falcon Labs reach settlement on registration violations
The U.S. Commodity Futures Trading Commission (CFTC) has reached a settlement with crypto major brokerage Falcon Labs, Ltd., resolving the issue that Falcon Labs should have registered but did not. This is the CFTC's first action against unregistered futures commission merchants, and Falcon Labs was accused of improperly facilitating customers' transactions on digital asset exchanges. Falcon Labs did not admit or deny the CFTC's findings and was fined more than $1.7 million. Previously, the CFTC had charged Binance and its former CEO, and Falcon Labs subsequently changed the way it collects customer information and updated its know-your-customer policy. The CFTC said it hopes to encourage other illegal digital asset intermediaries to report their activities to it through cooperation and rectification of Falcon Labs.
▌U.S . Senators question the Department of Justice's pursuit of cryptocurrency services
U.S. Senators Ron Wyden and Cynthia Lummis wrote to Attorney General Merrick Garland, questioning his pursuit of crypto software services. They pointed out that the action to treat non-custodial crypto services as unregistered money transmission businesses violates existing interpretations. This action is considered to be likely to treat software developers as criminals, raising serious concerns about free speech. The lawmakers emphasized that relevant regulations require that service providers must take over funds to be considered transmitters, and the software itself should not be held responsible for illegal finance. The issuance of this letter also highlights the debate in Congress on digital asset legislation. Although the bill is expected to be voted on by the House of Representatives soon, the possibility of comprehensive legislation becoming law is slim.
Blockchain Applications
Flow : Crescendo upgrade coming soon
Flow posted on the X platform, saying that developers should pay attention that the Crescendo network upgrade is coming soon, which will bring EVM Equivalence and Cadence 1.0 to Flow.
The first phase of the upgrade started on May 22nd and 23rd, focusing on testing the transaction check logic; the second phase was from May 29th to 31st, further refining your application; the third phase was from June 5th to 8th, the final check before the big action; the fourth phase was from June 12th to 17th, ensuring that everything went as expected; on June 19th, the Crescendo network upgrade was deployed on the test network.
▌ Aave community members suggest introducing weETH into Aave v3 on the Base chain
ACI released the ARFC proposal in the Aave Community Governance Forum, suggesting that weETH be introduced into Aave v3 on the Base chain.
▌ Arkham announces support for Ethereum L2 Blast
According to official news, the on-chain analysis platform Arkham announced support for Ethereum L2 Blast. Users will be able to check Blast on-chain activities. At the time of writing, the total locked value (TVL) of the Blast ecosystem is approximately US$2.6 billion. The Blast Gold activity helped Blast grow to become the seventh largest L2 in TVL in just 6 months after its launch.
▌ Gateway.fm launches Node-as-a-Service solution
Gateway.fm has launched a Node as a Service (NaaS) solution to simplify the process of setting up and managing nodes, enabling project communities to easily acquire nodes and contribute to the network. The team said that after purchasing a node, users will receive a unique node license NFT as proof of ownership.
Cryptocurrency
▌ Chainalysis: About $24 million in cryptocurrencies stolen by imposters and tax agency scams in 2023
According to Chainalysis, about $24 million in cryptocurrency was stolen in 2023 by imposters and tax agency scams. The firm estimates that the total amount stolen in 2024 was closer to $17 million as of April.
▌ Tether CEO: Ripple CEO’s remarks spread fear about USDT
Tether CEO Paolo Ardoino took to the social media platform to respond to comments made by Ripple CEO Brad Garlinghouse in a recent interview regarding the stablecoin Tether (USDT), in which Garlinghouse said that “it’s clear to me that the U.S. government is going after Tether.”
Ardoino stated that an uninformed CEO reportedly led a company under SEC investigation to launch a competing stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized that Tether plays a key role in providing financial services to unbanked communities in emerging and developing regions, which are often ignored by traditional financial institutions. He further asserted that Tether adheres to strict transparency and regulatory compliance standards, as reflected in its compliance with the OFAC/SDN list, its cooperation with Chainalysis, and its extensive cooperation with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.
▌ Multisig Exploit hacker-related addresses become active and launder money
According to MistTrack, the Multisig Exploit hack was the first hack in ETH history, in which more than 150,000 ETH were stolen, worth about $30 million at the time (back in July 2017). Today it is worth nearly $450 million, and the 0xb37647 address involved still has more than 80,000 ETH. The address sent a total of about 70,000 ETH to 7 different addresses, each with 10,000 ETH. Over the past few months, these different addresses have been slowly laundering money. One of the addresses starting with 0x5167052 has recently become active again.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged in June is 96.5%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in June is 96.5%, and the probability of a 25 basis point rate cut is 3.5%. The probability of the Fed keeping interest rates unchanged by August is 74.6%, the probability of a cumulative 25 basis point rate cut is 24.6%, and the probability of a cumulative 50 basis point rate cut is 0.8%.
▌The three major U.S. stock indexes closed with mixed gains and losses
The three major U.S. stock indexes closed with mixed gains and losses, with the Dow Jones Industrial Average down 0.21%, the Nasdaq up 0.29% and the S&P 500 down 0.02%.
Golden Encyclopedia
Ethereum futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself. Investors can use Ethereum futures ETFs to speculate on the future price of Ethereum without actually holding the cryptocurrency. Instead of holding a tangible asset, Ethereum futures ETFs invest in futures contracts. These contracts are a promise to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can purchase these contracts through ETFs, thereby gaining exposure to Ethereum's price fluctuations, and the ETF simply raises investors' funds to buy them.
Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
