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On May 30, Zama officially responded to the incident of Circle freezing the cUSDC contract. Circle's compliance system flagged a wallet belonging to an external depositor, which held funds in the cUSDC contract, resulting in the entire contract being automatically swept into a standard holding freeze. This is merely incidental damage and not a sanction against the Zama Protocol. Zama's legal team has intervened and is isolating the flagged address, aiming to restore access for all unaffected participants as soon as possible.

[Zama Responds to Circle's Freezing of cUSDC Contract: Legal Team Involved to Restore Access for Eligible Participants]On May 30, Zama officially responded to the incident of Circle freezing the cUSDC contract. Circle's compliance system flagged a wallet belonging to an external depositor, which held funds in the cUSDC contract, resulting in the entire contract being automatically swept into a standard holding freeze. This is merely incidental damage and not a sanction against the Zama Protocol. Zama's legal team has intervened and is isolating the flagged address, aiming to restore access for all unaffected participants as soon as possible.

Zama Responds to Circle's Freezing of cUSDC Contract: Legal Team Involved to Restore Access for Eligible Participants

On May 30, KobeissiLetter published a market opinion stating that AI is set to reshape the global labor market. It is estimated that approximately 24% of jobs worldwide (about 838 million) will be impacted by generative AI, with high-income countries facing the highest proportion of affected employment at around 33%. Approximately 6% of jobs may face the highest level of risk from AI replacement, typically involving repetitive and predictable tasks. Regionally, Europe and Central Asia are the most affected (about 32%), followed by the Americas (about 30%), while Africa is the least affected (about 13%). The overall exposure level in low-income countries is only one-third that of high-income countries. The largest labor transformation in modern history has already begun.

[Opinion: The Largest Labor Transformation in Modern History Has Begun, with Approximately 24% of Jobs Affected by Generative AI Globally]On May 30, KobeissiLetter published a market opinion stating that AI is set to reshape the global labor market. It is estimated that approximately 24% of jobs worldwide (about 838 million) will be impacted by generative AI, with high-income countries facing the highest proportion of affected employment at around 33%. Approximately 6% of jobs may face the highest level of risk from AI replacement, typically involving repetitive and predictable tasks. Regionally, Europe and Central Asia are the most affected (about 32%), followed by the Americas (about 30%), while Africa is the least affected (about 13%). The overall exposure level in low-income countries is only one-third that of high-income countries. The largest labor transformation in modern history has already begun.

Opinion: The Largest Labor Transformation in Modern History Has Begun, with Approximately 24% of Jobs Affected by Generative AI Globally

On May 30, the European Commission projected that a potential new unified tax on crypto companies could bring approximately €20 billion in new revenue to the EU during the next seven-year budget cycle from 2028 to 2034. The Commission also evaluated specific types of taxes: a 0.1% tax on the value of crypto transactions could generate around €3-4 billion annually, while a capital gains tax on crypto could yield €1-2.4 billion each year. These proposed crypto-related taxes aim to help address the funding sources for the EU's common budget and are currently in the negotiation phase among member states.

[EU Assesses Unified Tax on Crypto Industry, Potentially Generating €20 Billion in New Revenue Over Seven-Year Budget Cycle]On May 30, the European Commission projected that a potential new unified tax on crypto companies could bring approximately €20 billion in new revenue to the EU during the next seven-year budget cycle from 2028 to 2034. The Commission also evaluated specific types of taxes: a 0.1% tax on the value of crypto transactions could generate around €3-4 billion annually, while a capital gains tax on crypto could yield €1-2.4 billion each year. These proposed crypto-related taxes aim to help address the funding sources for the EU's common budget and are currently in the negotiation phase among member states.

EU Assesses Unified Tax on Crypto Industry, Potentially Generating €20 Billion in New Revenue Over Seven-Year Budget Cycle

On May 30, the European Commission projected that a potential new unified tax on crypto companies could generate approximately €20 billion in new revenue for the EU during the next seven-year budget cycle from 2028 to 2034. The Commission also evaluated specific types of taxes: a 0.1% tax on the value of crypto transactions could generate around €3-4 billion annually, while a capital gains tax on crypto could yield between €1-2.4 billion each year. These proposed crypto-related taxes aim to help address the funding sources for the EU's common budget and are currently in the negotiation phase among member states.

[EU Assesses Unified Tax on Crypto Industry, Potentially Generating €20 Billion in New Revenue Over Seven-Year Budget Cycle]On May 30, the European Commission projected that a potential new unified tax on crypto companies could generate approximately €20 billion in new revenue for the EU during the next seven-year budget cycle from 2028 to 2034. The Commission also evaluated specific types of taxes: a 0.1% tax on the value of crypto transactions could generate around €3-4 billion annually, while a capital gains tax on crypto could yield between €1-2.4 billion each year. These proposed crypto-related taxes aim to help address the funding sources for the EU's common budget and are currently in the negotiation phase among member states.

On May 30, on-chain detective ZachXBT further revealed that Circle's decision to blacklist the Zama cUSDC contract address, resulting in approximately $12.6 million in frozen funds, is related to a civil lawsuit in the United States. Circle is believed to have received an enforcement notice from a U.S. court. Additionally, it appears that the Zama team did not receive prior notification from Circle regarding the freeze, and the plaintiff may have misrepresented the connection between the frozen address and the Zama contract to the court. The civil lawsuit was filed against Overnight Finance, with one of the plaintiffs being Patagon Management, an entity known for malicious DAO takeovers and RFV (Risk-Free Value) plundering strategies. Zama users will be indirectly affected by this legal dispute. Note: Patagon Management is a U.S.-based cryptocurrency-focused investment and trading firm founded by Diogenes Casares, primarily focusing on 'special situation investments,' particularly aggressive investments in the decentralized autonomous organization (DAO) space. The entity is known for engaging in malicious DAO takeovers and RFV plundering strategies, encouraging the dissolution or liquidation of DAOs by acquiring large amounts of governance tokens and pushing proposals, thereby returning value to token holders (or itself). It has been deeply involved in litigation and governance actions related to projects such as SpartacusDAO, Aragon DAO, and Rook DAO, often viewed by project teams as risk-free value plunderers or 'vulture investors.'

[Analysis: Circle Blacklists Zama cUSDC Contract Due to Patagon's Civil Lawsuit Against Overnight]On May 30, on-chain detective ZachXBT further revealed that Circle's decision to blacklist the Zama cUSDC contract address, resulting in approximately $12.6 million in frozen funds, is related to a civil lawsuit in the United States. Circle is believed to have received an enforcement notice from a U.S. court. Additionally, it appears that the Zama team did not receive prior notification from Circle regarding the freeze, and the plaintiff may have misrepresented the connection between the frozen address and the Zama contract to the court. The civil lawsuit was filed against Overnight Finance, with one of the plaintiffs being Patagon Management, an entity known for malicious DAO takeovers and RFV (Risk-Free Value) plundering strategies. Zama users will be indirectly affected by this legal dispute. Note: Patagon Management is a U.S.-based cryptocurrency-focused investment and trading firm founded by Diogenes Casares, primarily focusing on 'special situation investments,' particularly aggressive investments in the decentralized autonomous organization (DAO) space. The entity is known for engaging in malicious DAO takeovers and RFV plundering strategies, encouraging the dissolution or liquidation of DAOs by acquiring large amounts of governance tokens and pushing proposals, thereby returning value to token holders (or itself). It has been deeply involved in litigation and governance actions related to projects such as SpartacusDAO, Aragon DAO, and Rook DAO, often viewed by project teams as risk-free value plunderers or 'vulture investors.'

Analysis: Circle Blacklists Zama cUSDC Contract Due to Patagon's Civil Lawsuit Against Overnight

On May 30, U.S. Secretary of Defense Mark Esper stated at the 23rd Shangri-La Dialogue that President Trump believes any deal reached between the U.S. and Iran will be beneficial, and emphasized that Trump is very patient in achieving this. Esper mentioned, "I spoke with Trump this morning, and he wants me to reiterate how patient he is in ensuring that this historic effort by the U.S. is successful. Any deal with Iran will be a good deal, a great deal." He is very patient in reaching this agreement. (Xinhua)

[U.S. Defense Secretary: Trump Patiently Awaits Deal with Iran, Any Agreement Will Be Beneficial]On May 30, U.S. Secretary of Defense Mark Esper stated at the 23rd Shangri-La Dialogue that President Trump believes any deal reached between the U.S. and Iran will be beneficial, and emphasized that Trump is very patient in achieving this. Esper mentioned, "I spoke with Trump this morning, and he wants me to reiterate how patient he is in ensuring that this historic effort by the U.S. is successful. Any deal with Iran will be a good deal, a great deal." He is very patient in reaching this agreement. (Xinhua)

U.S. Defense Secretary: Trump Patiently Awaits Deal with Iran, Any Agreement Will Be Beneficial

On May 30, the Huobi HTX VIP private class "AI + Trading from Theory to Practice" was held in Shanghai. Early Bitcoin miner and CTO of pyra.io, Tian Jia, shared insights on the development of quantum computing and its impact on trading. He believes that if quantum computing poses a threat to 'Bitcoin addresses with exposed public keys,' it would be on average in 7 to 8 years, with a range of 5 to 15 years. The required number of logical qubits is between 1200 and 2400, while the physical qubit count is less than 500,000. Additionally, Bitcoin has defensive measures; it can transition to post-quantum cryptography (PQC), although there are significant challenges, such as the locking issue with Satoshi's coin.

[Tian Jia: Quantum Computing Expected to Threaten Exposed Public Key Bitcoin Addresses in 5-15 Years]On May 30, the Huobi HTX VIP private class "AI + Trading from Theory to Practice" was held in Shanghai. Early Bitcoin miner and CTO of pyra.io, Tian Jia, shared insights on the development of quantum computing and its impact on trading. He believes that if quantum computing poses a threat to 'Bitcoin addresses with exposed public keys,' it would be on average in 7 to 8 years, with a range of 5 to 15 years. The required number of logical qubits is between 1200 and 2400, while the physical qubit count is less than 500,000. Additionally, Bitcoin has defensive measures; it can transition to post-quantum cryptography (PQC), although there are significant challenges, such as the locking issue with Satoshi's coin.

Tian Jia: Quantum Computing Expected to Threaten Exposed Public Key Bitcoin Addresses in 5-15 Years

Prediction market Polymarket has disclosed updates on the platform, which include: launching the World Cup page and initiating function testing, introducing perpetual contract features (including 5 traditional financial trading pairs and BTC perpetual contracts), optimizing CLOB performance with a version set to be released next week to address queue congestion issues, open-sourcing the SDK, launching a unified API, and implementing Gamma fixes and improvements (including stricter key set pagination and high-traffic read path indexing, as well as production accuracy fixes for users, profiles, comments, and sports summaries).

[Polymarket Launches World Cup Page and Initiates Function Testing]Prediction market Polymarket has disclosed updates on the platform, which include: launching the World Cup page and initiating function testing, introducing perpetual contract features (including 5 traditional financial trading pairs and BTC perpetual contracts), optimizing CLOB performance with a version set to be released next week to address queue congestion issues, open-sourcing the SDK, launching a unified API, and implementing Gamma fixes and improvements (including stricter key set pagination and high-traffic read path indexing, as well as production accuracy fixes for users, profiles, comments, and sports summaries).

Polymarket Launches World Cup Page and Initiates Function Testing

Kyle Samani, co-founder of Multicoin Capital, analyzed the development of Kalshi and the U.S. crypto perpetual contract market on the X platform, suggesting three potential scenarios: 1. Kalshi's previous efforts may be irrelevant, as the U.S. market already offers non-regulated perpetual contracts. 2. The protocol must meet the eight decentralized tests of the CLARITY Act: If the CLARITY Act is successfully passed, the protocol could offer perpetual contracts in the U.S. without registering as a DCO (Designated Contract Organizer) and DCM (Designated Contract Market). 3. The product may still attract users but could be unable to legally enter the U.S. financial system: Even if users accept it, the protocol may still struggle to distribute within a compliant framework. The analysis highlights the complex relationship between current U.S. derivatives regulation and decentralized protocols, as well as the uncertainty surrounding the launch of innovative financial products within legal compliance.

[Kyle Samani: Uncertainty Surrounding Kalshi and U.S. Crypto Perpetual Contracts May Lead to Three Potential Outcomes]Kyle Samani, co-founder of Multicoin Capital, analyzed the development of Kalshi and the U.S. crypto perpetual contract market on the X platform, suggesting three potential scenarios: 1. Kalshi's previous efforts may be irrelevant, as the U.S. market already offers non-regulated perpetual contracts. 2. The protocol must meet the eight decentralized tests of the CLARITY Act: If the CLARITY Act is successfully passed, the protocol could offer perpetual contracts in the U.S. without registering as a DCO (Designated Contract Organizer) and DCM (Designated Contract Market). 3. The product may still attract users but could be unable to legally enter the U.S. financial system: Even if users accept it, the protocol may still struggle to distribute within a compliant framework. The analysis highlights the complex relationship between current U.S. derivatives regulation and decentralized protocols, as well as the uncertainty surrounding the launch of innovative financial products within legal compliance.

Kyle Samani: Uncertainty Surrounding Kalshi and U.S. Crypto Perpetual Contracts May Lead to Three Potential Outcomes

1. Ether Merge is activated in two nodes, Bellatrix upgrade will be carried out on September 6;
2. Voyager have agreed to extend bid deadline to September 6th at 12:00 p.m;
3. Kyber Network said attackers can receive the 15% bug bounty if returning the funds until September 6.

Detail

【Huobi Global Tomorrow's Highlights】1. Ether Merge is activated in two nodes, Bellatrix upgrade will be carried out on September 6;
2. Voyager have agreed to extend bid deadline to September 6th at 12:00 p.m;
3. Kyber Network said attackers can receive the 15% bug bounty if returning the funds until September 6.

Huobi Global Tomorrow's Highlights

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Article

BTC breaks through 74000 USDT

Huobi Global Tomorrow's Highlights

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