Wu said Zhou's selection: Micro-Strategic Enduring Priority Unit STRC severe anchoring, the new Fed Chairman's premiere, the Ether's upcoming expansion and news Top10

The author, Wu, says the block chain

This week, Top10

1. Bitcoin has been below production cost for five consecutive months, about 20% of the miners are in deficit Losslink

ACCORDING TO CHASE MORGAN, THE ECONOMICS OF MINING IN BITCOIN HAS CONTINUED TO DETERIORATE SINCE 2026, THE PRICE OF BITCOIN HAS BEEN BELOW ITS ESTIMATED PRODUCTION COST OF $78,000 FOR FIVE CONSECUTIVE MONTHS, AND ABOUT 20 PER CENT OF THE MINERS ARE CURRENTLY IN DEFICIT. THE REPORT NOTES THAT MINERS ARE BECOMING MORE SENSITIVE TO PRICE CHANGES AND THAT WHEN PRICES BREAK PRODUCTION COSTS, HIGH-COST MINING UNIONS SHUT DOWN EQUIPMENT, LEADING TO REDUCED FULL-NETWORK COMPUTING AND MINING DIFFICULTIES. AS A RESULT OF OPERATING PRESSURE, LISTED MINING COMPANIES SOLD MORE THAN 32,000 BTCS IN THE FIRST QUARTER OF 2026 TO COVER OPERATING EXPENSES, EXCEEDING THEIR ANNUAL SALES VOLUME IN 2025. CHASE MORGAN EXPECTS THAT DURING THE PERIOD WHEN THE PRICE OF BITCOIN CONTINUES TO BE BELOW PRODUCTION COSTS, THE VOLATILITY AND FREQUENCY OF CALCULATION AND MINING DIFFICULTIES WILL REMAIN HIGH。

2. Upgrading of the ETA Glamsterdam into the final testing phase of the Developer Network, which is expected to go online in the second half of the yearlink

The core developer has entered the final sprint phase of the next major network upgrade of “Glamsterdam”. Teams have begun testing for a full set of fork versions containing all the planned Taifung Improvement Proposals (EIP) in a closed network of developers (devnets), which is the last stage of development before the coding library is solidified and deployed to the public testing network (testnets). According to the ETA Foundation DevOps Engineer and Core Developer Parithosh Jayanthi, while the exact activation schedule has not yet been finalized, significant progress has been made, and the upgrade is expected to be formally online in the second half of 2026。

Following the upgrading of the Glamsterdam, the Gas Limited of the Ether House will rise significantly from the current 60 million to about 200 million. This means that L1 implementation capacity will grow by more than three times and is expected to double further soon thereafter。

3. Michael Saylor said that the products designed by STRC for its use fell to $82.7link

Michael Saylor, in an interview with Coindesk, stated that the firm's issue of a "Stretch" variable interest rate permanent preferential share of STRC was produced using AI:

ALL OF THIS I DESIGNED WITH AI, YOU KNOW, I CAN'T DO IT MYSELF. I REALLY MEAN, I USED ARTIFICIAL INTELLIGENCE, AND I DISCUSSED IT WITH AI FOR HOURS, LIKE THE REST OF US, WHILE LEARNING HOW TO DESIGN THESE DIFFERENT THINGS, ARGUING WITH IT, "CAN I DO THIS?" "CAN I DO THAT?" AND AT SOME POINT I SAID, "I WANT A MONTHLY PRIORITY PRODUCT, AND I WANT IT TO BE 100." AND IT SAID, "YOU CAN DO THIS, AND SO." I ASKED, "DID ANYONE DO THIS BEFORE?" THEN IT SCANNED ME FOR 10 MINUTES, AND TOLD ME, "NO ONE HAS EVER DONE THIS IN THE HISTORY OF THE WORLD, BUT IT IS PERFECTLY LEGITIMATE AND PERFECTLY REASONABLE."

RECENTLY, THE BREAKOUT OF THE STRC, WHICH FELL TO A LOW OF $82.7 ON FRIDAY MORNING, HAS BEEN A CONSTANT CAUSE FOR COMMUNITY CONCERN, WITH 88.8。

Strive CEO Matt Cole argues that today is the most difficult day in the history of Digital Credit, and that the StRC recovered sharply after falling to $82.50, and the SATA rebounded from a flat price to a low of $90; he claims that the volatility was a leveraging event rather than a deterioration in the quality of the bottom credit, forcing the sale to trigger a chain sale, but the issuer ' s credit position remains strong. Cole states that the stock of Strive dividends remains intact, that the company is not under pressure, that there are significant purchases near the lower point of the plate by both STRC and SATA, and that the liquidation event is not the same as the credit event。

On 23 May, Strategy CEO Phong Le wrote that Strategy's tradable priority share, which had grown from zero to $10.5 billion in market value within 10 months, had become the largest tradable priority in the world, twice the size of the second largest tradable priority. The map shows that Wells Fargo, the second-ranked priority, has a market value of about $4.7 billion。

4. The Federal Reserve maintains interest rates at the same rate, with half the officials expected to increase at least once a yearlink

THE FEDERAL RESERVE OPEN MARKET COMMISSION (FOMC) DECIDED BY A VOTE OF 12:0 TO KEEP THE INTEREST RATE OF THE FEDERAL FUND AT 3.5 PER CENT TO 3.75 PER CENT. THE STATEMENT STATED THAT, DESPITE INCREASED UNCERTAINTY CAUSED BY FACTORS SUCH AS THE CONFLICT IN THE MIDDLE EAST, UNITED STATES ECONOMIC ACTIVITY HAD CONTINUED TO EXPAND STEADILY, PRODUCTIVITY GROWTH AND STRONG CAPITAL INVESTMENT PERFORMANCE HAD BEEN STRONG, EMPLOYMENT GROWTH HAD LARGELY MATCHED THE SIZE OF THE LABOUR FORCE, AND UNEMPLOYMENT HAD CHANGED LITTLE。

At the meeting, Warsh demonstrated a different style of communication from that of former Chairman Powell, who had adopted a more politicized and industry-filled communication strategy, with frequent references to “principle one”, “alternative framework” and “terms of reference” of the Fed. Warsh revealed that he was the only Fed official in this dot plot who refused to submit a forecast of future borrowing costs and reiterated that the core of the future of the Fed was to achieve “price stability”. Warsh responded indirectly to a previous market concern that it might become a “wield puppet” of President Trump's demand for a reduction in interest rates by refusing to prejudge interest rates and by providing vague language on how to reduce inflation. Trump responded to the Fed ' s decision to keep interest rates unchanged after the press conference, but expressed support for Warsh。

According to Nick Timiraos, a journalist for the Wall Street Journal, the Fed's latest dot map shows a clear hawk preference. Of the 18 officials, 9 are expected to increase interest rates at least once this year, of whom 6 are expected to increase interest rates more than once; only 1 is expected to decrease interest rates this year, and another official has not submitted a summary of economic projections (SEP). Timiraos also notes that this FOMC statement has been almost completely rewritten and is significantly shorter than before。

5. EU MiCA transition period will end on 1 July, about 75 per cent of which is encrypted or disqualifiedlink

The transition period of the European Union's Encrypted Asset Market Regulation Act (MiCA) will end on 1 July, when encrypted money exchanges, brokers and wallet service providers who do not have a MiCA license will be unable to continue providing services to EU users. According to the data, as of May 2026, only 194 encrypted enterprises in the EU had obtained licences, while more than 3000 were registered to operate in 2024, and about 75 per cent of existing enterprises were expected to be disqualified. Non-licensed platforms need to stop new deposits, direct users to extract assets or transfer them to licensed institutions, and some national regulators will also take measures such as website closures and public alert lists。

According to ESMA registration information, only about 200 businesses are currently authorized by the Encrypted Assets Service (CASP) far below the market size of the pre-MiCA implementation. Industry believes that high compliance costs and complex approval processes can drive industry integration and accelerate M&A activities。

6. Currency spokesman ' s response to the Greek licence application or its rejection: the regulator has not formally expressed objectionslink

It is about to lose its licence to provide services to EU clients, as its application for a permit in Greece will be rejected, and it states that it believes that it has met the relevant requirements and has been authorized to do so in the EU by the MiCA, which has been in constructive communication with the regulatory authority for the past 18 months and has submitted an application to the Greek regulatory authority through a complete process that considers that the relevant requirements of the MiCA have been met, and understands that the regulator has completed its review and found the application to be in compliance, and that no objection has been formally expressed by the Greek regulatory authority. According to the information received, the Greek Capital Markets Commission stated that it would not be possible to comment on the issue at this stage due to confidentiality requirements, but that, in the absence of a licence, it would not be able to operate legally in the EU from July。

7. USDT IN VENEZUELA HAS INCREASED IN THE LOCAL P2P MARKET IN THE LAST 30 DAYS BY ABOUT 16%link

In Venezuela, the USDT has increased by about 16 per cent in the local P2P market over the past 30 days, from about 690 Bolívar to over 800 Bolívar. During the same period, the currency liquidity of Venezuela increased by about 23.26 per cent, exceeding 131 per cent since the beginning of the year. According to reports, the rapid expansion of the Bolivarian supply, the inadequate availability of the bank dollar and foreign exchange restrictions have pushed businesses and residents to buy USDT preservations on P2P platforms such as Binance. The rise in the price of a stable currency premium is also being channelled to the prices of goods and services as a result of the fact that some local businesses use USDT prices as a daily pricing reference。

8. SBF DAILY MEDICATION FOR CLINICAL DEPRESSION, REPORTED BY FELLOW INMATES AFTER RELEASE OR ISSUING THEIR OWN NEW TOKENSlink

According to New York Magazine, Sam Bankman-Fried (SBF), the founder of FTX, who has been sentenced to 25 years in prison, has been exposed in Lompoc Federal Prison, California. SBF, 34 years old, is currently taking Adderall daily due to clinical depression and ADHD, and has written a memorandum in the cell entitled " Manfred " . By refusing to follow the gang rules of the white motorcade, and insisting on playing cards and chess with other ethnic prisoners, such as the Black Carcade, the Independent was transformed into a non-gang status. It is worth noting that when his cellmate David Bunevacz asked about his plans after his release from prison, SBF said that he must first have 50 million or 100 million dollars in start-up funds to start a real business, and declared that “after his release, he will issue his own new token, and everyone will be in a rush”. Bunevacz then added, “He may be joking, and they probably won't come. But who knows?" On June 8, this year, the SBF officially submitted a presidential pardon to the Trump administration, and the probability of its granting a pardon on Polymark doubled to 14 per cent。

9. FIRST SPOT HYPE ETF MARKETED CUMULATIVE TRANSACTIONS CLOSE TO $900 MILLION, NET INFLOWS REACHING $153 MILLIONlink

About a month after the first HYPE ETF listings, the cumulative volume of transactions was close to $900 million, with a cumulative net inflow of approximately $153 million. There are currently 21 SHAREs of THYP, Bitwise of THYP and Grayscale of HYPG, all directly holding HYPE and allocating pledge proceeds to investors. The data show that the annualized yield of the HYPE pledge is currently around 2.25 per cent, with about 434 million HYPEs in pledge status, accounting for about 45 per cent of the pledged supply. Of these, BHYP and THYP contributed most of the transactions, while the municipal HYPG is still in the accumulation phase。

“I think Hyperliquid’s innovation is actually excellent.” CZ states that Hyperliquid occupies a sub-market where currency is difficult to compete, does not require KYC and claims to be a decentrized platform. At the same time, however, the CZ stated that, based on its past experience, it would not follow the current operational methods of Hyperliquid and that “I guess they have a good team of lawyers”。

10. Five-year extreme pressure on spot sales of Yamamoto currencylink

According to CriptoQuant Analyst IT Tech, the market has been netting off for 15 months after five years of extreme pressure on the spot exchange. The cumulative trade-off gap between the BTC and ETH has fallen to its deepest negative value since the data were available in 2020; the indicator was almost flat at the beginning of 2025 and then again was significantly reversed and continued downward。

According to Binance Research data, the massive compression of the TVL caused by the April DeFi loophole caused an outflow of about $13 billion, and the current chain leverage ratio rose passively to about 38 per cent, touching 2021 levels. The increase was not due to a recovery in real lending demand, and the meaningful deleveraging process had not yet become apparent, despite recent market reversals。

Focused financing events

• Galaxy Ventures co-leaded Karta $140 million A round of financelink
• Interchecks announced the completion of $50 million in C rounds of financinglink
• EarthOS completed $6 million Pre-A round of finance, 1kx leadlink
• Latin American cross-border payment application El Dorado completed $9.0 millionlink
• United States Senator Gillibrand's son created the Renewable Futures Exchangelink
• Renaiss completed the first round of $1.5 million, YZi Labslink
• Renge completes $8.3 million A round of financing, TX Ventures and SixThirtylink
• Africa Payments Infrastructure Company Flutterwave announces a Ripple Strategic Investmentlink
• Coinbase Ventures Strategic Investment through Base Ecofund Multiplilink
• Lite Strategy led a $1 million strategic investment in support of LitVM building zero knowledge for Litecoin L2link

More industry financing events availablecrypto-fundraising.infoI don't know。