24H Hot Tokens & Headlines｜SpaceX Acquires Cursor; CZ Criticizes Hyperliquid Compliance (June 17)
- Key Takeaways: The cryptocurrency market is showing a diverging trend, with some tokens (such as WLD, UNI) recording significant gains, while the industry is experiencing regulatory tightening (Illinois levies a digital asset transaction tax), market structure changes (cooling retail interest in South Korea), and accelerated compliance processes (Binance navigating the MiCA transition).
- Key Factors:
- CEX trading data shows WLD (+20.24%) and UNI (+19.4%) leading the top 10 by trading volume, while SENT (+23.79%) and UNI (+19.37%) lead the 24-hour gainers list.
- Illinois has signed a bill to impose a 0.2% broker privilege tax on digital asset transactions starting in 2027, with projected annual revenue of approximately $60 million, making it the first U.S. state with such a tax.
- South Korea's Q1 retail crypto trading volume fell 28% year-on-year to $69 billion, primarily due to capital flowing into the semiconductor sector and domestic exchange compliance restrictions driving users to overseas platforms.
- Binance responded to the licensing controversy, stating it has actively communicated regarding MiCA compliance over the past 18 months, with Greek regulators having approved its application, and warned that delays could weaken EU market liquidity.
- Ondo Finance announced a partnership with South Korean asset management firm Mirae Asset to tokenize 10 Global X ETFs (covering AI, blockchain, etc.), promoting the on-chain migration of traditional assets.
- Prediction markets Polymarket and Kalshi plan to strengthen anti-fraud measures during the World Cup; Kalshi's annualized revenue reached approximately $1.5 billion in May of this year.
- DeepSeek's first funding round may have been finalized, with founder Liang Wenfeng personally contributing approximately 20 billion yuan, and Tencent, CATL's ecosystem, among others, following on, bringing the total financing scale to around 40-50 billion yuan.
1. Popular Tokens on CEX
CEX Top 10 by Trading Volume & 24h Change:
- BTC: -0.75%
- ETH: +0.21%
- SOL: -0.23%
- XRP: -0.9%
- BNB: -1.52%
- WLD: +20.24%
- ZEC: -1.22%
- DOGE: -0.32%
- XLM: +5.67%
- UNI: +19.4%
24h Gainers (Data source: OKX):
- SENT: +23.79%
- UNI: +19.37%
- WLD: +18.97%
- ID: +18.07%
- VELODROME: +17.21%
- CFG: +11.52%
- JTO: +10.75%
- HYPE: +10.54%
- TIA: +10.06%
- PENDLE: +9.87%
24h Crypto Equity Gainers (Data source: msx.com):
- SOXS.M: 15.7%
- MSTZ.M: +12.58%
- BNC.M: +11.49%
- HYPD.M: +10.96%
- VIVO.M: +10.69%
- CRWV.M: +10.01%
- AIXC.M : +8.76%
- RBLX.M: +8.52%
- VELO.M : +8.32%
- BTBT.M: +8.29%
2. Top 5 On-Chain Meme Tokens (Data source: GMGN):
- SPACEMOON
- Lobster
- 4
- SHDX
- WARD
Headlines
CZ: Hyperliquid's Innovation is Great, But I Won't Copy Their Approach
Galaxy Research Head shared CZ's comments on Hyperliquid on X platform. CZ said: "I think this innovation from Hyperliquid is really great. They occupy a niche market that Binance cannot compete in. They have no KYC and claim to be decentralized."
CZ also stated that based on his professional experience, he would not adopt Hyperliquid's current operational model, adding jokingly: "I guess they must have really good lawyers."
SpaceX (SPCX.O) to Acquire Anysphere, Creator of Cursor, via Merger
A US SEC filing shows that SpaceX (SPCX.O) will acquire Anysphere through a merger.
Anysphere, Inc. is a US AI software startup, known for its main brand and product, Cursor. Anysphere has an equity valuation of $60 billion.
Korea Times: South Koreans Losing Interest in Crypto Trading
In the first quarter of this year, South Korean retail crypto trading volume reached $69 billion, ranking second globally, behind the US's $212 billion. Data shows that South Korea's crypto trading volume fell 28% year-on-year in the quarter, the largest decline among major global markets. In comparison, the US volume was $21.2 billion, Russia $4.8 billion, India $4.6 billion, and Turkey $4 billion.
Analysts point out that the surge in South Korea's semiconductor stock sector has absorbed a significant amount of retail capital. Additionally, the country's Virtual Asset User Protection Act has raised compliance requirements, limiting domestic exchanges to spot trading, while overseas platforms offer a wider range of products including derivatives and leverage.
Industry News
CLARITY Act Proposes $150 Million to Fight Digital Asset Crime
US Senator Cynthia Lummis posted on X platform that the CLARITY Act will allocate $150 million to support law enforcement in tracking scammers and other wrongdoers in the digital asset space, strengthening the fight against cryptocurrency-related criminal activities.
US ADP Employment Change for Week Ending May 30: 25,500
The US ADP employment change for the week ending May 30 was 25,500, compared to the previous value of 29,000.
Illinois to Become First US State to Tax Digital Asset Transactions, Effective 2027
Illinois has become the first US state to tax digital asset transactions. SB 3019, signed by Governor J.B. Pritzker, includes the Digital Asset Tax Law, which imposes a 0.2% occupation tax on brokers who trade, transfer, or custody digital assets for clients in the state. Scheduled to take effect on January 1, 2027, it is expected to generate approximately $60 million in annual tax revenue for the state.
Project News
Binance Responds to EU License Controversy: Still Committed to Operating Under MiCA
Binance responded on X platform to news regarding its EU license, stating that the company remains committed to serving European users and will continue conducting business in accordance with applicable laws.
Binance stated that as the MiCA transition period draws to a close, the company is adopting a user-first, prudent strategy to minimize the impact of operational adjustments. It will disclose further arrangements and options to users after obtaining more information, planning to release an update before June 30, 2026.
Furthermore, Binance said it has been in constructive communication with regulators over the past 18 months and actively participated in the MiCA approval process. According to its understanding, the Greek regulatory authority has completed its review of the relevant application and deemed it compliant with MiCA requirements; the application has also been reviewed at the European Securities and Markets Authority (ESMA) level.
Binance also mentioned that any delay or deviation in the MiCA authorization process could weaken market liquidity, competition, and user choice, potentially pushing some activities outside the EU. The company will continue to seek a compliant operational path under the MiCA framework and keep users informed of developments.
Ondo: Partnered with Korea's Largest Asset Manager Mirae Asset to Tokenize Global X ETF Line
Ondo Finance announced on X platform that it has partnered with Mirae Asset, South Korea's largest asset management company, to tokenize its Global X ETF product line via the Ondo Global Markets platform.
Ondo stated that Mirae Asset will be the first asset manager in Asia to bring its existing ETF product line onto the blockchain. The initial batch will include 10 Global X ETFs covering sectors such as AI and technology, blockchain and digital assets, robotics and space innovation, lithium and silver, defense technology, and covered call option income strategies.
Ondo believes the asset management industry is becoming a key area transformed by financial tokenization. The next generation of capital market infrastructure is being built on-chain, and traditional institutions that defined the previous financial system are beginning to embrace this trend.
Polymarket and Kalshi to Strengthen Anti-Fraud Measures During World Cup
Prediction market platforms Polymarket and Kalshi stated they will accelerate the deployment of anti-fraud measures during the World Cup to combat potential fraudulent groups while continuing to expand the range of tradable events.
Reports indicate that both companies are bringing more real-world events into prediction markets to boost user engagement and market liquidity. As trading volumes continue to grow, related fraudulent activities have also increased. Kalshi's annualized revenue reached approximately $1.5 billion in May this year.
Funding & Investment
DeepSeek's First Funding Round Likely Closed, Founder Liang Wenfeng Personally Invests ~$20 Billion
Multiple investment institutions have learned that DeepSeek's first funding round is likely finalized. Founder Liang Wenfeng personally invested approximately RMB 20 billion, making him the largest single investor in this round. Tencent invested about RMB 10 billion; the CATL system (including CATL and Puquan Capital) invested approximately RMB 5 billion; NetEase, JD.com, Monolith, and IDG Capital each invested about RMB 3 billion; Zhengxingu Investment and Shixiang Technology each invested approximately RMB 1.5 billion.
