1.Arthur Hayes: I believe BTC can reach $250,000 by the end of the year because the US Treasury Department has led the Federal Reserve to forge a deep friendship within the global central bank circle. Kuroda's BOJ governor's term ended a few years ago, and Powell often called him for comments or chatting. In early March this year, Powell held a very chaotic talk with new U.S. Treasury Secretary Scott Bessent. This left him with psychological trauma and he needed someone to talk to - let's hear what he said. Click to read2. The Three Crimes of Hyperliquid Farce What is the true meaning of "decentralization"?

A trader just weaponized Hyperliquid's own liquidation mechanism to backlash the agreement, forcing the agreement to make a choice between the continued blood loss of $12 million and the exposure of its centralized emergency switch. A small group of validators reached a "quorum number" within two minutes, overturning the market price and forcibly removed the token after JELLY soared 429% within one hour. Binance and OKX launch perpetual contracts with precise timing, while BitGet CEO pointed out that Hyperliquid is "repeat the mistake of FTX 2.0". Click to read

3. Amazingly similar: Can stablecoins replicate the legendary road of money market funds?

Stablecoins are exciting. The upcoming stablecoin legislation in the United States is a once-in-a-lifetime opportunity to upgrade the financial system. Financial historians will find this surprisingly similar to the birth and development trajectory of money market funds about half a century ago. Money market funds were invented in the 1970s and were mainly used as cash management solutions for enterprises. Click to read

4. BlackRock CEO 2025 Investor Letter Full Text: BTC erodes the dollar reserve status and tokenize the revolutionary capital market

BlackRock CEO Larry Fink recently released the full text of the 2025 Annual Letter to Investor Letter. Larry Fink starts with the democratization of investment, and then talks about unlocking the private market and tokenization. Click to read

5. Four key indicators understand the current status of BTC discount trading

BTC price fell from $87,241 to $81,331, erasing the gains in the previous 17 days. The 6.8% pullback liquidated a $230 million bullish BTC futures position and largely followed the decline in U.S. stocks because the standardsPoole 500 futures fell to their lowest level since March 14. Click to read