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On May 31, MiniMax Group Inc. announced that its board of directors has resolved to explore a preliminary proposal for the issuance of shares in RMB, which may involve entering into agreements with professional advisors and consulting with relevant securities or other regulatory authorities. The company has engaged professional advisors to provide consultation on meeting the requirements for listing on the Sci-Tech Innovation Board and has signed a mentoring agreement. The issuance of shares in RMB will depend on market conditions and necessary regulatory approvals.

[MiniMax: Evaluation for Listing on the Sci-Tech Innovation Board]On May 31, MiniMax Group Inc. announced that its board of directors has resolved to explore a preliminary proposal for the issuance of shares in RMB, which may involve entering into agreements with professional advisors and consulting with relevant securities or other regulatory authorities. The company has engaged professional advisors to provide consultation on meeting the requirements for listing on the Sci-Tech Innovation Board and has signed a mentoring agreement. The issuance of shares in RMB will depend on market conditions and necessary regulatory approvals.

MiniMax: Evaluation for Listing on the Sci-Tech Innovation Board

On May 31, MiniMax Group Inc. announced that its board of directors has resolved to explore a preliminary proposal for the issuance of shares in RMB. This may involve entering into agreements with professional advisors and consulting with relevant securities or other regulatory agencies. The company has engaged professional advisors to provide consultation on meeting the listing requirements for the STAR Market and has signed a mentoring agreement. The issuance of shares in RMB will depend on market conditions and necessary regulatory approvals.

[MiniMax Plans to Go Public on the STAR Market]On May 31, MiniMax Group Inc. announced that its board of directors has resolved to explore a preliminary proposal for the issuance of shares in RMB. This may involve entering into agreements with professional advisors and consulting with relevant securities or other regulatory agencies. The company has engaged professional advisors to provide consultation on meeting the listing requirements for the STAR Market and has signed a mentoring agreement. The issuance of shares in RMB will depend on market conditions and necessary regulatory approvals.

MiniMax Plans to Go Public on the STAR Market

On May 31, Israeli Prime Minister Netanyahu stated: I previously instructed the Israeli military to expand operations in Lebanon. The current directive is to deepen and expand our control over areas controlled by Hezbollah.

[Israel: Strengthening Control Over Hezbollah Territories]On May 31, Israeli Prime Minister Netanyahu stated: I previously instructed the Israeli military to expand operations in Lebanon. The current directive is to deepen and expand our control over areas controlled by Hezbollah.

Israel: Strengthening Control Over Hezbollah Territories

On May 31, JPMorgan CEO Jamie Dimon issued a warning regarding the U.S. crypto market structure bill, the 'CLARITY Act.' He stated that if stablecoin issuers are allowed to offer returns to users similar to bank deposit interest, the related model could ultimately 'explode.' Dimon noted that the bill permits crypto companies to provide returns akin to deposit interest through stablecoin accounts without adequate regulatory protections, which the banking industry would not accept. He remarked, 'I am not concerned about stablecoins themselves, but if this happens, I will not participate, and it will eventually explode.' The 'CLARITY Act' aims to clarify the regulatory framework for the U.S. crypto industry and delineate the responsibilities of regulatory agencies. Previously, Patrick Witt, executive director of the U.S. Digital Asset Advisory Committee, indicated that the Trump administration planned to push for the bill's passage before July 4. However, data from Polymarket shows that the probability of the 'CLARITY Act' passing by 2026 has dropped from nearly 70% to just above 50%.

[JPMorgan CEO Warns: Stablecoins Offering Interest Like Deposits May Eventually 'Explode']On May 31, JPMorgan CEO Jamie Dimon issued a warning regarding the U.S. crypto market structure bill, the 'CLARITY Act.' He stated that if stablecoin issuers are allowed to offer returns to users similar to bank deposit interest, the related model could ultimately 'explode.' Dimon noted that the bill permits crypto companies to provide returns akin to deposit interest through stablecoin accounts without adequate regulatory protections, which the banking industry would not accept. He remarked, 'I am not concerned about stablecoins themselves, but if this happens, I will not participate, and it will eventually explode.' The 'CLARITY Act' aims to clarify the regulatory framework for the U.S. crypto industry and delineate the responsibilities of regulatory agencies. Previously, Patrick Witt, executive director of the U.S. Digital Asset Advisory Committee, indicated that the Trump administration planned to push for the bill's passage before July 4. However, data from Polymarket shows that the probability of the 'CLARITY Act' passing by 2026 has dropped from nearly 70% to just above 50%.

JPMorgan CEO Warns: Stablecoins Offering Interest Like Deposits May Eventually 'Explode'

On May 31, selling pressure on Bitcoin spot ETFs continued to intensify. Following a net outflow of $1.26 billion last week, this week saw an additional net outflow of $1.42 billion from spot Bitcoin ETFs, pushing BTC to a low of $72,500. However, on-chain and market data indicate that some funds have begun to buy on dips around the $70,000 mark. The buying in the spot market is absorbing some of the selling pressure, providing support for Bitcoin's price, but the scale of buying remains insufficient to reverse the current downward trend. Meanwhile, data from the derivatives market shows that traders have added approximately $300 million in leveraged long positions in the $73,000 to $74,000 range, suggesting that some investors are betting on a price rebound. Additionally, the order book's buy-sell ratio has turned positive, indicating that the market sees some attractiveness in BTC below $75,000. To drive Bitcoin back into an upward trend, the market still needs new catalysts, including progress on the US-Iran peace agreement, a return to net inflows for spot Bitcoin ETFs, a decline in oil prices, and favorable news regarding the US strategic Bitcoin reserves.

[Analysis: Bitcoin's Dip Buying Absorbs Some Selling Pressure, But Downward Trend Remains Unchanged]On May 31, selling pressure on Bitcoin spot ETFs continued to intensify. Following a net outflow of $1.26 billion last week, this week saw an additional net outflow of $1.42 billion from spot Bitcoin ETFs, pushing BTC to a low of $72,500. However, on-chain and market data indicate that some funds have begun to buy on dips around the $70,000 mark. The buying in the spot market is absorbing some of the selling pressure, providing support for Bitcoin's price, but the scale of buying remains insufficient to reverse the current downward trend. Meanwhile, data from the derivatives market shows that traders have added approximately $300 million in leveraged long positions in the $73,000 to $74,000 range, suggesting that some investors are betting on a price rebound. Additionally, the order book's buy-sell ratio has turned positive, indicating that the market sees some attractiveness in BTC below $75,000. To drive Bitcoin back into an upward trend, the market still needs new catalysts, including progress on the US-Iran peace agreement, a return to net inflows for spot Bitcoin ETFs, a decline in oil prices, and favorable news regarding the US strategic Bitcoin reserves.

Analysis: Bitcoin's Dip Buying Absorbs Some Selling Pressure, But Downward Trend Remains Unchanged

On May 31, the Hyperliquid ETF saw a net inflow of $29.6 million on Friday, setting a new historical high. Among this, BHYP had a net inflow of $20.1 million, while THYP recorded a net inflow of $9.5 million. The Hyperliquid ETF has achieved net inflows for 13 consecutive trading days, totaling $136 million. The continuous inflow of funds into the Hyperliquid ETF has driven the strength of HYPE. According to HTX market data, HYPE has increased by over 70% in the past 30 days, currently priced at $68.3.

[Hyperliquid ETF Records 13 Consecutive Days of Net Inflows, Accumulating $136 Million]On May 31, the Hyperliquid ETF saw a net inflow of $29.6 million on Friday, setting a new historical high. Among this, BHYP had a net inflow of $20.1 million, while THYP recorded a net inflow of $9.5 million. The Hyperliquid ETF has achieved net inflows for 13 consecutive trading days, totaling $136 million. The continuous inflow of funds into the Hyperliquid ETF has driven the strength of HYPE. According to HTX market data, HYPE has increased by over 70% in the past 30 days, currently priced at $68.3.

Hyperliquid ETF Records 13 Consecutive Days of Net Inflows, Accumulating $136 Million

On May 31, according to CME's 'Fed Watch' data, the probability of the Federal Reserve maintaining interest rates unchanged until December is 51.8%, while the probability of a cumulative rate cut of 25 basis points is only 0.2%. The probability of a rate hike by the Fed this year has dropped to 48%, with a cumulative rate hike of 25 basis points at 37.9%, a cumulative rate hike of 50 basis points at 9.2%, and a cumulative rate hike of 75 basis points at 0.9%.

[CME Fed Watch: Probability of Fed Rate Hike Drops to 48%]On May 31, according to CME's 'Fed Watch' data, the probability of the Federal Reserve maintaining interest rates unchanged until December is 51.8%, while the probability of a cumulative rate cut of 25 basis points is only 0.2%. The probability of a rate hike by the Fed this year has dropped to 48%, with a cumulative rate hike of 25 basis points at 37.9%, a cumulative rate hike of 50 basis points at 9.2%, and a cumulative rate hike of 75 basis points at 0.9%.

CME Fed Watch: Probability of Fed Rate Hike Drops to 48%

On May 31, according to Defillama data, Polymarket generated $999,000 in revenue over the past 24 hours, surpassing Pump.fun's $848,000, ranking it fifth among crypto protocols. The total revenue of the protocol has exceeded $60 million.

[Polymarket Surpasses Pump.fun in Protocol Revenue Over the Last 24 Hours]On May 31, according to Defillama data, Polymarket generated $999,000 in revenue over the past 24 hours, surpassing Pump.fun's $848,000, ranking it fifth among crypto protocols. The total revenue of the protocol has exceeded $60 million.

Polymarket Surpasses Pump.fun in Protocol Revenue Over the Last 24 Hours

On May 31, the probability of Bitcoin rising to $100,000 this year on Polymarket dropped to 33% (down from 49% on May 10). Additionally, the probability of BTC rising to $90,000 this year is currently reported at 56%, while the probability for a rise to $50,000 stands at 42%.

[Probability of Bitcoin Rising to $100,000 This Year on Polymarket Drops to 33%]On May 31, the probability of Bitcoin rising to $100,000 this year on Polymarket dropped to 33% (down from 49% on May 10). Additionally, the probability of BTC rising to $90,000 this year is currently reported at 56%, while the probability for a rise to $50,000 stands at 42%.

Probability of Bitcoin Rising to $100,000 This Year on Polymarket Drops to 33%

According to CoinDesk, the House Subcommittee on Commodity Markets, Digital Assets, and Rural Development has provided the witness list for Thursday's hearing examining regulatory holes in crypto spot market regulations.
The panel notably includes former Commodity Futures Trading Commission (CFTC) Chair Timothy Massad, who is currently a research fellow at the Harvard Kennedy School and director, M-RCBG Digital Assets Policy Project.
Other witnesses include Purvi Maniar, general counsel at institutional crypto trading platform FalconX, and Nilmini Rubin, head of global policy at decentralized proof-of-stake ledger Hedera. Rounding out the panel are Daniel Davis, partner at law firm Katten Muchin Rosenman LLP, as well as its co-chair, Financial Markets and Regulation and Joseph Hall, partner at law firm Davis Polk & Wardwell LLP.
The hearing is set to begin Thursday at 2 p.m. ET.

Detail

【Former CFTC Chair Timothy massad among witnesses for house crypto hearing】According to CoinDesk, the House Subcommittee on Commodity Markets, Digital Assets, and Rural Development has provided the witness list for Thursday's hearing examining regulatory holes in crypto spot market regulations.
The panel notably includes former Commodity Futures Trading Commission (CFTC) Chair Timothy Massad, who is currently a research fellow at the Harvard Kennedy School and director, M-RCBG Digital Assets Policy Project.
Other witnesses include Purvi Maniar, general counsel at institutional crypto trading platform FalconX, and Nilmini Rubin, head of global policy at decentralized proof-of-stake ledger Hedera. Rounding out the panel are Daniel Davis, partner at law firm Katten Muchin Rosenman LLP, as well as its co-chair, Financial Markets and Regulation and Joseph Hall, partner at law firm Davis Polk & Wardwell LLP.
The hearing is set to begin Thursday at 2 p.m. ET.

Former CFTC Chair Timothy massad among witnesses for house crypto hearing

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BTC breaks through 74000 USDT

Former CFTC Chair Timothy massad among witnesses for house crypto hearing

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