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On May 31, Banca Sella completed the notification procedure submitted to the Italian banking authority in accordance with the European MiCA (Markets in Crypto-Assets) regulation, becoming the first bank in Italy authorized to provide crypto asset services, particularly related to the custody and transfer of digital assets.

[Banca Sella Receives Approval in Italy to Offer Crypto Asset Services]On May 31, Banca Sella completed the notification procedure submitted to the Italian banking authority in accordance with the European MiCA (Markets in Crypto-Assets) regulation, becoming the first bank in Italy authorized to provide crypto asset services, particularly related to the custody and transfer of digital assets.

Banca Sella Receives Approval in Italy to Offer Crypto Asset Services

This week, cryptocurrency exchange-traded funds (ETFs) continued to face pressure, with Bitcoin funds experiencing outflows for the tenth consecutive trading day, while Ethereum funds have seen outflows for 14 consecutive trading days. This week, the Bitcoin ETF had a net outflow of $125.31 million, marking its tenth consecutive day in negative territory. The Ethereum ETF also continued to decline, but the situation was more balanced compared to previous days, with a net outflow of $17.91 million, extending its decline to 14 consecutive trading days. The XRP ETF saw a net inflow of $11.88 million, with Bitwise's XRP product leading at $7.36 million. The HYPE ETF recorded an inflow of $9.5 million, all from 21Shares' THYP. The Solana ETF had a net inflow of $1.32 million.

[This Week's Bitcoin ETF Sees $125.31 Million Outflow, XRP ETF Records $11.88 Million Inflow]This week, cryptocurrency exchange-traded funds (ETFs) continued to face pressure, with Bitcoin funds experiencing outflows for the tenth consecutive trading day, while Ethereum funds have seen outflows for 14 consecutive trading days. This week, the Bitcoin ETF had a net outflow of $125.31 million, marking its tenth consecutive day in negative territory. The Ethereum ETF also continued to decline, but the situation was more balanced compared to previous days, with a net outflow of $17.91 million, extending its decline to 14 consecutive trading days. The XRP ETF saw a net inflow of $11.88 million, with Bitwise's XRP product leading at $7.36 million. The HYPE ETF recorded an inflow of $9.5 million, all from 21Shares' THYP. The Solana ETF had a net inflow of $1.32 million.

This Week's Bitcoin ETF Sees $125.31 Million Outflow, XRP ETF Records $11.88 Million Inflow

This week, the flow of funds in cryptocurrency exchange-traded funds (ETFs) continues to face pressure, with Bitcoin funds experiencing outflows for the tenth consecutive trading day, while Ethereum funds have seen outflows for the 14th consecutive trading day. This week, the Bitcoin ETF recorded a net outflow of $125.31 million, marking its tenth consecutive day in negative territory. The Ethereum ETF also continued to decline, but the situation is more balanced compared to previous trading days, with a net outflow of $17.91 million, extending its decline to 14 consecutive trading days. The XRP ETF saw a net inflow of $11.88 million, led by Bitwise's XRP product with $7.36 million. The HYPE ETF recorded an inflow of $9.5 million, all from 21Shares' THYP. The Solana ETF had a net inflow of $1.32 million.

[This Week's Bitcoin ETF Sees $125.31 Million Outflow, XRP ETF Records $11.88 Million Inflow]This week, the flow of funds in cryptocurrency exchange-traded funds (ETFs) continues to face pressure, with Bitcoin funds experiencing outflows for the tenth consecutive trading day, while Ethereum funds have seen outflows for the 14th consecutive trading day. This week, the Bitcoin ETF recorded a net outflow of $125.31 million, marking its tenth consecutive day in negative territory. The Ethereum ETF also continued to decline, but the situation is more balanced compared to previous trading days, with a net outflow of $17.91 million, extending its decline to 14 consecutive trading days. The XRP ETF saw a net inflow of $11.88 million, led by Bitwise's XRP product with $7.36 million. The HYPE ETF recorded an inflow of $9.5 million, all from 21Shares' THYP. The Solana ETF had a net inflow of $1.32 million.

On May 31, Visa made a strategic investment in the AI software development platform Replit, aiming to embed its commercial infrastructure into next-generation development tools. Both parties stated that they are collaborating to integrate Visa Intelligent Commerce into Replit's platform. The goal is to enable developers to build applications and AI agents that can initiate secure transactions and receive payments through Visa's global network without interrupting their development workflow.

[Visa Makes Strategic Investment in AI Software Development Platform Replit]On May 31, Visa made a strategic investment in the AI software development platform Replit, aiming to embed its commercial infrastructure into next-generation development tools. Both parties stated that they are collaborating to integrate Visa Intelligent Commerce into Replit's platform. The goal is to enable developers to build applications and AI agents that can initiate secure transactions and receive payments through Visa's global network without interrupting their development workflow.

Visa Makes Strategic Investment in AI Software Development Platform Replit

According to The Information, reported by Golden Finance on May 31, Microsoft is developing a new in-house AI model for programming, speech, transcription, reasoning, and image processing. This initiative aims to reduce reliance on OpenAI and Anthropic while providing developers with a more cost-effective option through Azure.

[Microsoft Developing New In-House AI Model]According to The Information, reported by Golden Finance on May 31, Microsoft is developing a new in-house AI model for programming, speech, transcription, reasoning, and image processing. This initiative aims to reduce reliance on OpenAI and Anthropic while providing developers with a more cost-effective option through Azure.

Microsoft Developing New In-House AI Model

On May 31, SoftBank announced a commitment of up to €75 billion to establish a large-scale artificial intelligence computing cluster network in France, which will become the largest data center project in Europe. This also marks SoftBank's largest single investment in artificial intelligence outside the United States. According to insiders, the collaboration was quickly finalized after French President Macron dined with Masayoshi Son in Tokyo in early April. In the first phase, SoftBank will lead an investment of €45 billion, aiming to achieve a computing capacity of 3.1 gigawatts in the Hauts-de-France region by 2031, with plans to add an additional 2 gigawatts of capacity later. One of the core facilities will be located in Dunkirk, where SoftBank will partner with Schneider Electric to create AI infrastructure and a robotics manufacturing center. The location has a strategic advantage, serving clients in London, Brussels, Amsterdam, and other areas. The entire project is planned to reach a total computing capacity of 5 gigawatts, and if fully completed, SoftBank's total investment will amount to approximately €75 billion.

[SoftBank Commits €75 Billion to Build AI Facilities in France]On May 31, SoftBank announced a commitment of up to €75 billion to establish a large-scale artificial intelligence computing cluster network in France, which will become the largest data center project in Europe. This also marks SoftBank's largest single investment in artificial intelligence outside the United States. According to insiders, the collaboration was quickly finalized after French President Macron dined with Masayoshi Son in Tokyo in early April. In the first phase, SoftBank will lead an investment of €45 billion, aiming to achieve a computing capacity of 3.1 gigawatts in the Hauts-de-France region by 2031, with plans to add an additional 2 gigawatts of capacity later. One of the core facilities will be located in Dunkirk, where SoftBank will partner with Schneider Electric to create AI infrastructure and a robotics manufacturing center. The location has a strategic advantage, serving clients in London, Brussels, Amsterdam, and other areas. The entire project is planned to reach a total computing capacity of 5 gigawatts, and if fully completed, SoftBank's total investment will amount to approximately €75 billion.

SoftBank Commits €75 Billion to Build AI Facilities in France

On May 31, the Spanish National Police arrested six members of the 'Alaguay Train' gang, who are suspected of carrying out a series of violent robberies targeting high-profile individuals possessing jewelry and cryptocurrency.

[Spain Arrests Gang Targeting Jewelry and Cryptocurrency]On May 31, the Spanish National Police arrested six members of the 'Alaguay Train' gang, who are suspected of carrying out a series of violent robberies targeting high-profile individuals possessing jewelry and cryptocurrency.

Spain Arrests Gang Targeting Jewelry and Cryptocurrency

Iranian state television reported that this yet-to-be-finalized informal draft states that Iran has exclusive authority to determine the nature of vessels passing through the Strait of Hormuz. If the cargo of a vessel is deemed threatening or the actual beneficiary is an adversarial force to Iran, that vessel will not be considered a civilian merchant ship and will be prohibited from passage. Iran has the right to designate navigation routes, set navigation fees, maintain channel safety, and address related environmental damage issues. The draft indicates that the US has committed to assist Iran in fully unfreezing $12 billion of frozen assets within 60 days. These funds can be transferred to banks designated by Iran and used without restrictions. Currently, the draft is only an informal consensus and still requires review, negotiation, and revision by all parties.

[Iranian State TV: US-Iran Memorandum Draft Grants Iran Control Over the Strait]Iranian state television reported that this yet-to-be-finalized informal draft states that Iran has exclusive authority to determine the nature of vessels passing through the Strait of Hormuz. If the cargo of a vessel is deemed threatening or the actual beneficiary is an adversarial force to Iran, that vessel will not be considered a civilian merchant ship and will be prohibited from passage. Iran has the right to designate navigation routes, set navigation fees, maintain channel safety, and address related environmental damage issues. The draft indicates that the US has committed to assist Iran in fully unfreezing $12 billion of frozen assets within 60 days. These funds can be transferred to banks designated by Iran and used without restrictions. Currently, the draft is only an informal consensus and still requires review, negotiation, and revision by all parties.

Iranian State TV: US-Iran Memorandum Draft Grants Iran Control Over the Strait

Market data shows that BTC has surpassed $74,000, currently priced at $74,011.04, with a 24-hour decline of 0.35%. The market is experiencing significant volatility, so please ensure proper risk management.

[BTC Surpasses $74,000]Market data shows that BTC has surpassed $74,000, currently priced at $74,011.04, with a 24-hour decline of 0.35%. The market is experiencing significant volatility, so please ensure proper risk management.

BTC Surpasses $74,000

South Korean prosecutors have also launched a full investigation into Do Kwon's tax evasion allegations. South Korean prosecutors have raided the National Tax Service to seize documents related to an investigation into Do Kwon's tax fraud.
Documents from the IRS's tax investigation of Do Kwon found that since June last year, the IRS had uncovered suspicious flows of funds to an overseas company founded by Do Kwon and opened a tax investigation.
Afterwards, the National Revenue Service confirmed that Do Kwon stole the token trading profits of his Singapore company to the tax haven Virgin Islands and collected 50 billion won in taxes including income tax and corporate tax. However, the IRS did not file a complaint with prosecutors, and the facts of the special tax investigation were released later through media reports.
While analyzing the seizure and search data, prosecutors are actively verifying Do Kwon's "tax evasion allegations" and the flow of funds to Terraform Labs. At the time, as an investigation by the Internal Revenue Service revealed alleged evasion of gift tax, such as Do Kwon donating tokens to his family to buy an apartment, it was planned to investigate this part again. It was also confirmed that the top prosecutor’s office recently dispatched an investigator with cryptocurrency expertise to the team.

Detail

【South Korean prosecutors: Do Kwon diverted token trading profits to tax havens】South Korean prosecutors have also launched a full investigation into Do Kwon's tax evasion allegations. South Korean prosecutors have raided the National Tax Service to seize documents related to an investigation into Do Kwon's tax fraud.
Documents from the IRS's tax investigation of Do Kwon found that since June last year, the IRS had uncovered suspicious flows of funds to an overseas company founded by Do Kwon and opened a tax investigation.
Afterwards, the National Revenue Service confirmed that Do Kwon stole the token trading profits of his Singapore company to the tax haven Virgin Islands and collected 50 billion won in taxes including income tax and corporate tax. However, the IRS did not file a complaint with prosecutors, and the facts of the special tax investigation were released later through media reports.
While analyzing the seizure and search data, prosecutors are actively verifying Do Kwon's "tax evasion allegations" and the flow of funds to Terraform Labs. At the time, as an investigation by the Internal Revenue Service revealed alleged evasion of gift tax, such as Do Kwon donating tokens to his family to buy an apartment, it was planned to investigate this part again. It was also confirmed that the top prosecutor’s office recently dispatched an investigator with cryptocurrency expertise to the team.

South Korean prosecutors: Do Kwon diverted token trading profits to tax havens

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sfp currently trades at 0.2679 USDT, up 19.54% in 24h, according to HTX market data.

a16z-Linked Entity Increases Holdings by 226,121 HYPE, Totaling 3.9 Million HYPE at Average Price of $49.4

South Korean prosecutors: Do Kwon diverted token trading profits to tax havens

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