Federal Reserve Chairperson Jerome Powell: We have made considerable progress on inflation.

On June 5, California lawmakers passed a bill in the House of Representatives on Tuesday that would require the state to confiscate unclaimed crypto assets from cryptocurrency exchanges if customer accounts are inactive for three consecutive years and do not "demonstrate interest in their assets." Although the bill has sparked debate among crypto investors and has been widely opposed on social media, there is perhaps no need to worry too much. Supporters of the bill say...

1. Variational completes $1.50 million strategic financing; 2. Crypto exchange Rails completes a new round of financing of $14 million; 3. Web3 identity protocol Shards Protocol completed a $2 million financing; 4. Crypto credit startup 3Jane completed a $5.20 million seed round of financing; 5.AI gaming startup Launcher Capital completed a $4 million seed round led by a16z CSX.

According to market news, the Securities Exchange Commission postponed its decision on the Canary Spot SUI ETF application.

Variational, the Arbitrum-based peer-to-peer derivatives trading protocol, announced that it has raised $1.50 million in strategic funding from Mirana Ventures, Caladan, Zoku Ventures (formerly Superpotion) and other key partners. This round of financing follows Variational's $10.30 million seed round announced in September and the launch of a private beta on the Omni mainnet. Variational supports the Omni platform, which allows users to trade perpetual futures on hundreds of markets for free.

The US Senate has confirmed Michelle Bowman as vice-chair for regulatory affairs at the Federal Reserve.

Elon Musk responded to Coinbase CEO Brian Armstrong's claims that bitcoin could become a reserve currency.

White House official: Musk's opposition is "a disagreement" in the harmonious relationship between the two sides, and the White House will not consult with Musk on every policy decision. White House official: Despite Musk's opposition, President Trump remains committed to pushing the bill through.

According to the CME "Fed Watch", the probability that the Fed will keep interest rates unchanged in June is 95.6%, and the probability of a 25 basis point cut is 4.4%. The probability that the Fed will keep interest rates unchanged in July is 69.9%, the probability of a cumulative 25 basis point cut is 28.9%, and the probability of a cumulative 50 basis point cut is 1.2%.

Base, an Ethereum scaling solution developed by Coinbase, is hiring seven new "country leads" to accelerate its global expansion, according to an announcement on Wednesday. Xen Baynham-Herd, head of Base Global Builder, said on X that the team provides services in Argentina, Brazil, Central America, Singapore, South Korea, the UK, Europe, and West Africa. The task of these country leaders is to promote on-chain growth and build a network of local users and developers. Ba...

The US House Financial Services Committee recently held a hearing to discuss the Digital Asset Market Clarity Act (CLARITY). The bill aims to establish a clear regulatory framework for the cryptocurrency industry, but Trump's close ties to the crypto industry have become the focus of discussion, causing the bill to encounter resistance. During the hearing, some Democratic lawmakers expressed concern about Trump's involvement in the cryptocurrency space, particularly his support for...

Arkham monitoring data shows that the US government recently seized $40,000 in USDT.

The US Treasury said that Secretary of the Treasury Vincent called an executive meeting of the Financial Stability Oversight Council today. During the meeting, the committee was briefed by Treasury staff on the work of the President's Digital Asset Markets Task Force. The chairperson of the SEC and the acting chairperson of the Commodity Futures Trading Commission (CFTC) also provided updates on recent actions by their respective agencies. Speakers discussed ways to promote U.S. leadership in di...