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On June 5, Cointelegraph reported that Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated that publishing open-source DeFi code is protected under the First Amendment and should not automatically impose securities regulatory obligations on developers. She pointed out that many blockchain projects involve the release of open-source software, which is generally considered a protected activity under the First Amendment.

Peirce warned against applying rules designed for centralized financial institutions to decentralized blockchain networks, as the SEC's rulebook is filled with concepts related to intermediaries such as brokers, dealers, exchanges, clearing agencies, transfer agents, investment advisors, and investment companies. She questioned whether these rules should extend to the blockchain infrastructure itself, noting that distributed networks serve a wide range of purposes beyond securities trading. She stated that decentralized protocols can operate without traditional intermediaries, and the responsibility for violations of securities laws should typically fall on individuals engaging in illegal activities.

[SEC Commissioner Hester Peirce: Publishing DeFi Code is Protected Free Speech]On June 5, Cointelegraph reported that Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated that publishing open-source DeFi code is protected under the First Amendment and should not automatically impose securities regulatory obligations on developers. She pointed out that many blockchain projects involve the release of open-source software, which is generally considered a protected activity under the First Amendment.

Peirce warned against applying rules designed for centralized financial institutions to decentralized blockchain networks, as the SEC's rulebook is filled with concepts related to intermediaries such as brokers, dealers, exchanges, clearing agencies, transfer agents, investment advisors, and investment companies. She questioned whether these rules should extend to the blockchain infrastructure itself, noting that distributed networks serve a wide range of purposes beyond securities trading. She stated that decentralized protocols can operate without traditional intermediaries, and the responsibility for violations of securities laws should typically fall on individuals engaging in illegal activities.

SEC Commissioner Hester Peirce: Publishing DeFi Code is Protected Free Speech

On June 5, the AI training platform project team from Shenzhen University of Technology, in collaboration with Harbin Institute of Technology (Shenzhen), Shenzhen Big Data Research Institute, and relevant teams from Huawei, worked together with the Deep Intelligence City AI computing power platform to conduct joint efforts for training large domestic computing power models. Utilizing the Ascend 910C domestic AI computing cluster, they completed the full parameter retraining of the 16 trillion parameter model DeepSeek-V4-Pro. This practice has accumulated important experience for global third-party organizations in training models of this level on domestic computing power platforms, and it confirms that domestic AI chips can support world-class ultra-large parameter model training. From a technical application perspective, invoking existing models for business inference differs significantly from completing full parameter training of a model from scratch, with clear distinctions in technical difficulty and hardware requirements. The results of this experiment indicate that domestic AI computing power is now capable of undertaking top-level large model training tasks, and the relevant technical pathways are feasible. (Shenzhen Release)

[Shenzhen Successfully Trains Trillion-Parameter AI Model with Domestic Chips]On June 5, the AI training platform project team from Shenzhen University of Technology, in collaboration with Harbin Institute of Technology (Shenzhen), Shenzhen Big Data Research Institute, and relevant teams from Huawei, worked together with the Deep Intelligence City AI computing power platform to conduct joint efforts for training large domestic computing power models. Utilizing the Ascend 910C domestic AI computing cluster, they completed the full parameter retraining of the 16 trillion parameter model DeepSeek-V4-Pro. This practice has accumulated important experience for global third-party organizations in training models of this level on domestic computing power platforms, and it confirms that domestic AI chips can support world-class ultra-large parameter model training. From a technical application perspective, invoking existing models for business inference differs significantly from completing full parameter training of a model from scratch, with clear distinctions in technical difficulty and hardware requirements. The results of this experiment indicate that domestic AI computing power is now capable of undertaking top-level large model training tasks, and the relevant technical pathways are feasible. (Shenzhen Release)

Shenzhen Successfully Trains Trillion-Parameter AI Model with Domestic Chips

On June 5, the South Korean stock market fell more than 5% due to a sharp decline in SK Hynix and Samsung Electronics, triggering a trading halt. As of the time of writing, the Korea Composite Stock Price Index (Kospi) had dropped over 6%, with SK Hynix down 9%. This sharp decline may be related to Broadcom's AI earnings guidance falling short of expectations and a well-known research report predicting that Nvidia's Rubin will significantly reduce memory allocations. Notably, according to the schedule, 'AI guru' Jensen Huang is set to arrive in Korea on the afternoon of June 5 via a private jet. Given the recent surge in stocks following his endorsement of MRVL, the market widely anticipates that Huang's visit will have a positive impact on the Korean stock market. Consequently, South Korean investors have created a website to track Huang's itinerary and analyze stock prices that may be influenced by his remarks. According to various reports, Huang's schedule in Korea is as follows: On the evening of June 5 (Friday), he will hold the '2nd Kkanbu Gathering' at a barbecue restaurant in Seongsu-dong, Seoul, meeting with SK Group's Choi Tae-won, LG Group's Koo Kwang-mo, and Naver's Lee Hae-jin (possibly including Hyundai Motor's Chung Eui-sun). Samsung's Lee Jae-yong will be absent due to overseas commitments. The key topics of discussion will include AI, HBM, and collaboration on embodied AI/robotics. On June 7 (Sunday), he will meet with NCSoft CEO Kim Taek-jin and throw the first pitch at a Doosan Bears baseball game at Jamsil Baseball Stadium in Seoul (wearing jersey number 93). On June 8 (Monday), he will visit Naver's second headquarters '1784' building in Bundang to discuss specific AI business collaborations. Additionally, Huang will participate for the first time in recording the South Korean variety show 'You Quiz'.

[Stock Market Plummets Ahead of Jensen Huang's Visit to Korea, Retail Investors Create Tracking Website]On June 5, the South Korean stock market fell more than 5% due to a sharp decline in SK Hynix and Samsung Electronics, triggering a trading halt. As of the time of writing, the Korea Composite Stock Price Index (Kospi) had dropped over 6%, with SK Hynix down 9%. This sharp decline may be related to Broadcom's AI earnings guidance falling short of expectations and a well-known research report predicting that Nvidia's Rubin will significantly reduce memory allocations. Notably, according to the schedule, 'AI guru' Jensen Huang is set to arrive in Korea on the afternoon of June 5 via a private jet. Given the recent surge in stocks following his endorsement of MRVL, the market widely anticipates that Huang's visit will have a positive impact on the Korean stock market. Consequently, South Korean investors have created a website to track Huang's itinerary and analyze stock prices that may be influenced by his remarks. According to various reports, Huang's schedule in Korea is as follows: On the evening of June 5 (Friday), he will hold the '2nd Kkanbu Gathering' at a barbecue restaurant in Seongsu-dong, Seoul, meeting with SK Group's Choi Tae-won, LG Group's Koo Kwang-mo, and Naver's Lee Hae-jin (possibly including Hyundai Motor's Chung Eui-sun). Samsung's Lee Jae-yong will be absent due to overseas commitments. The key topics of discussion will include AI, HBM, and collaboration on embodied AI/robotics. On June 7 (Sunday), he will meet with NCSoft CEO Kim Taek-jin and throw the first pitch at a Doosan Bears baseball game at Jamsil Baseball Stadium in Seoul (wearing jersey number 93). On June 8 (Monday), he will visit Naver's second headquarters '1784' building in Bundang to discuss specific AI business collaborations. Additionally, Huang will participate for the first time in recording the South Korean variety show 'You Quiz'.

Stock Market Plummets Ahead of Jensen Huang's Visit to Korea, Retail Investors Create Tracking Website

On June 5, Zcash founder Zooko published details about a serious spoofing vulnerability in Orchard. Following this news, ZEC fell by over 30%, currently priced at $431.64. Zooko stated that security researcher Taylor Hornby discovered the severe spoofing vulnerability in the Zcash Orchard pool on May 29 and reported it to the Zcash Open Development Lab (ZODL). ZODL subsequently coordinated an emergency response within the ecosystem, and the repair work was completed on June 2.

[Zcash Founder Reviews Critical Network Vulnerability, ZEC Drops Over 30%]On June 5, Zcash founder Zooko published details about a serious spoofing vulnerability in Orchard. Following this news, ZEC fell by over 30%, currently priced at $431.64. Zooko stated that security researcher Taylor Hornby discovered the severe spoofing vulnerability in the Zcash Orchard pool on May 29 and reported it to the Zcash Open Development Lab (ZODL). ZODL subsequently coordinated an emergency response within the ecosystem, and the repair work was completed on June 2.

Zcash Founder Reviews Critical Network Vulnerability, ZEC Drops Over 30%

HTX data monitoring shows that BTC has fallen below 63,000 USDT, currently reported at 62,991 USDT, with a 24H increase of 0.81%.

【BTC drops below 63000 USDT】HTX data monitoring shows that BTC has fallen below 63,000 USDT, currently reported at 62,991 USDT, with a 24H increase of 0.81%.

BTC drops below 63000 USDT

On June 5, on-chain analyst Ai Yi (@ai_9684xtpa) reported that a16z-related entities withdrew a total of 224,118 HYPE from various centralized exchanges (CEX) in the past 24 hours, amounting to $15.156 million. The total amount of HYPE accumulated for 2026 has now increased to 6.906 million (valued at $322 million), with an average price of $46.7, resulting in an unrealized profit of $131 million.

[a16z Withdraws $15.156 Million in HYPE Over 24 Hours]On June 5, on-chain analyst Ai Yi (@ai_9684xtpa) reported that a16z-related entities withdrew a total of 224,118 HYPE from various centralized exchanges (CEX) in the past 24 hours, amounting to $15.156 million. The total amount of HYPE accumulated for 2026 has now increased to 6.906 million (valued at $322 million), with an average price of $46.7, resulting in an unrealized profit of $131 million.

a16z Withdraws $15.156 Million in HYPE Over 24 Hours

On June 5, CoinDesk reported that Reza Bundy, CEO of Atlas Capital, stated in an interview that Bitcoin could experience a correction of up to 70% in the next six months, with prices potentially dropping to the range of $26,000 to $30,000. If the stock market sees a significant decline, Bitcoin, as a high-risk asset, will face even larger corrections. In the short term, Bitcoin is no longer an effective inflation hedge but is instead a risk asset highly correlated with tech stocks. However, Bundy remains optimistic about Bitcoin's long-term prospects, predicting that under various macroeconomic scenarios, Bitcoin could ultimately reach between $150,000 and $500,000, with a potential peak of $500,000 in a 'fiscal-led' scenario.

[Atlas Capital CEO: Bitcoin May Plunge 70% in Next 6 Months, Long-Term Target of $150,000 to $500,000]On June 5, CoinDesk reported that Reza Bundy, CEO of Atlas Capital, stated in an interview that Bitcoin could experience a correction of up to 70% in the next six months, with prices potentially dropping to the range of $26,000 to $30,000. If the stock market sees a significant decline, Bitcoin, as a high-risk asset, will face even larger corrections. In the short term, Bitcoin is no longer an effective inflation hedge but is instead a risk asset highly correlated with tech stocks. However, Bundy remains optimistic about Bitcoin's long-term prospects, predicting that under various macroeconomic scenarios, Bitcoin could ultimately reach between $150,000 and $500,000, with a potential peak of $500,000 in a 'fiscal-led' scenario.

Atlas Capital CEO: Bitcoin May Plunge 70% in Next 6 Months, Long-Term Target of $150,000 to $500,000

On June 5th, according to information on its official website, Fidelity confirmed that it has significantly lowered the participation threshold for the SpaceX IPO (stock code SPCX): customers with $2,000 or more in their retail brokerage accounts can now submit subscription intentions. It is reported that Fidelity's special reduction to $2,000 for the SpaceX IPO is primarily because SpaceX plans to allocate up to 30% of its shares to retail investors (far higher than the usual 10% for typical IPOs), resulting in a more ample supply of shares.

[Fidelity Lowers Minimum Account Requirement for SpaceX IPO from $500,000 to $2,000]On June 5th, according to information on its official website, Fidelity confirmed that it has significantly lowered the participation threshold for the SpaceX IPO (stock code SPCX): customers with $2,000 or more in their retail brokerage accounts can now submit subscription intentions. It is reported that Fidelity's special reduction to $2,000 for the SpaceX IPO is primarily because SpaceX plans to allocate up to 30% of its shares to retail investors (far higher than the usual 10% for typical IPOs), resulting in a more ample supply of shares.

Fidelity Lowers Minimum Account Requirement for SpaceX IPO from $500,000 to $2,000

On June 5, CME Group CEO Terry Duffy expressed serious concerns regarding the recently approved perpetual futures contracts in the U.S. He believes that such contracts have limited practical use for institutional investors while potentially exposing retail investors to excessive risk. Duffy stated that he has 'serious concerns' about the design of these contracts and disagrees with the CFTC's approval of the first perpetual contracts linked to cryptocurrency prices. He also noted that perpetual contracts and prediction markets reflect a broader trend of retail speculation, comparing it to the risk behaviors observed before the 2007-2008 financial crisis.

[CME CEO Expresses Serious Concerns Over Newly Approved Perpetual Contracts in the U.S.]On June 5, CME Group CEO Terry Duffy expressed serious concerns regarding the recently approved perpetual futures contracts in the U.S. He believes that such contracts have limited practical use for institutional investors while potentially exposing retail investors to excessive risk. Duffy stated that he has 'serious concerns' about the design of these contracts and disagrees with the CFTC's approval of the first perpetual contracts linked to cryptocurrency prices. He also noted that perpetual contracts and prediction markets reflect a broader trend of retail speculation, comparing it to the risk behaviors observed before the 2007-2008 financial crisis.

CME CEO Expresses Serious Concerns Over Newly Approved Perpetual Contracts in the U.S.

zest Hits New High of 0.266193 USDT, Up 78.91% in 24H

【zest soared to 0.275571 USDT, a new high with a 24-hour increase of 78.91%. It currently trades at 0.266193 USDT on HTX.】zest Hits New High of 0.266193 USDT, Up 78.91% in 24H

zest soared to 0.275571 USDT, a new high with a 24-hour increase of 78.91%. It currently trades at 0.266193 USDT on HTX.

VVV Surges Over 10x This Year, Is the Base Ecosystem the Last Hope for Crypto AI?

Bitcoin Correction Pushes 580,000 BTC Into Loss Territory

One Article Deconstructs the Investment Methodology of 'Stock God Serenity'

Deconstructing the Investment Methodology of the 'Stock God Serenity' in One Article

Sharplink CEO: Ethereum's Future Is Playing Out Now

Kalshi and Coinbase Receive CFTC Approval, Ushering in the Most Regulation-Friendly Era for the Crypto Industry?

Weekly Token Unlocks: HYPE Unlocks $650M Worth of Tokens

A $300 Used Mining Rig Mined a $230,000 Bitcoin Block

Over $1 Billion in Cryptocurrencies Forced to Liquidate, Bitcoin Plunges 6% Below $67,000

Bulls Approach the Ceiling

Article

OpenAI Resets Codex Usage Quotas After Three Reliability Failures in 24 Hours

zest soared to 0.275571 USDT, a new high with a 24-hour increase of 78.91%. It currently trades at 0.266193 USDT on HTX.

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