Bitmine announces issuance of preferred shares to raise $300 million; Polymarket accuses Kalshi of corporate espionage, citing “too many coincidences” in product launches; the U.S. Department of Justice, alongside Coinbase, Meta, and others, launches anti-fraud operation freezing over $3.8 million in crypto assets; Macau completes integration with the multi-central bank digital currency bridge (mBridge) system to build an efficient and secure cross-border payment and settlement channel; Cosmos Labs acquires blockchain explorer Mintscan; Goldman Sachs, together with Apex and Archax, launches a tokenized real estate fund.
Macau Completes Integration with Multi-Central Bank Digital Currency Bridge (mBridge) System
The Monetary Authority of Macao announced that Macau has completed system integration with the multi-central bank digital currency bridge (mBridge) project and officially launched local banks’ “on-bridge” transactions on June 2. This initiative aims to establish an efficient, secure, and low-cost cross-border payment and settlement channel.
Cosmos Labs Acquires Blockchain Explorer Mintscan
Cosmos Labs—the core development team of the Cosmos ecosystem—announced its acquisition of the Cosmos blockchain explorer Mintscan and the establishment of a new subsidiary, Cosmos Labs Korea, in Seoul, South Korea. According to co-CEO Barry Plunkett, negotiations for the deal began in October 2025 and were initiated by a co-founder of the Korean crypto firm Stamper. Neither party disclosed the transaction amount, financing method, or whether Cosmos Hub tokens were involved.
U.S. Department of Justice Joins Coinbase, Meta, and Others in Anti-Fraud Operation
The U.S. Department of Justice stated that, as part of a joint anti-fraud operation codenamed “Disruption Week,” private-sector participants collectively froze over $3.8 million in cryptocurrency assets linked to fraud. Participating organizations include Coinbase, Meta, Google, Microsoft, SpaceX, and TRM Labs. The operation also led Thai police to arrest seven alleged fraudsters and identified multiple fraudulent platforms for transfer to U.S. authorities for investigation. FBI data shows reported losses from cryptocurrency investment scams rose 24% year-on-year in 2025, exceeding $7.2 billion.
Standard Chartered: Bitcoin “Near Bottom,” Maintains Year-End Target of $100,000
Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin’s “bottom is nearly in” following its recent sharp decline, and that the current range of approximately $63,000 represents a “buy zone.” He noted that holdings in U.S. spot Bitcoin ETFs have remained largely flat since February, signaling more “structural stability” in capital flows. The bank maintains its year-end price targets of $100,000 for Bitcoin and $4,000 for Ethereum.
Rocket Lab Insiders Cash Out Over $18.41 Million Ahead of SpaceX IPO
Rocket Lab insiders collectively sold over 124,000 shares, netting over $18.41 million. Sellers included the company’s General Counsel, Vice President of Space Systems, COO, and Head of Vector Capital. The company’s stock had surged earlier amid sector-wide optimism driven by rising SpaceX valuations—but fell as much as 15% to $122.39 on Monday.
Polymarket Accuses Kalshi of Corporate Espionage
Prediction market platform Polymarket alleges that rival Kalshi may have engaged in corporate espionage targeting Polymarket’s New York office and employees. Polymarket documented roughly a dozen suspicious incidents, including “coincidental” product launch timing and surveillance risks arising from geographic proximity. In response, a Kalshi spokesperson denied all allegations, calling the suspicions “pathetic and bordering on delusional.”
U.S. Treasury Secretary: Steadily Advancing Strategic Bitcoin Reserve, Pushing for Clarity Act Passage
U.S. Treasury Secretary Scott Bessent stated during a hearing that the Treasury Department is steadily advancing the establishment of a strategic Bitcoin reserve. He also urged lawmakers to support the digital asset regulatory bill—the Clarity Act—and expressed hope it would pass this summer, positioning the U.S. as the world’s innovation capital.
Bitmine to Raise $300 Million
Bitmine Immersion Technologies announced plans to issue 3 million Series A perpetual preferred shares, each with a par value of $100, aiming to raise $300 million in total. These preferred shares accrue dividends at an annualized rate of 9.5%, paid weekly in cash.
New “Crypto God” Serenity Executes Short-Term Swing Trade
Serenity—the newly dubbed “crypto god”—posted on X stating that today he purchased IBIT and ETHA at Bitcoin $62,000 and Ethereum $1,750, emphasizing this was a short-term swing trade—not a long-term hold.
Crypto VC Monthly Deal Count Falls to Five-Year Low
Monthly crypto venture capital deal count has dropped to roughly 50—its lowest level since before 2021. A large-scale investor shift toward the AI sector, combined with a shortage of high-quality early-stage projects, are the primary drivers behind this contraction in deal volume. Although deal count has declined, total funding amounts remain relatively high, reflecting a “fewer deals, larger size” pattern.
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Crypto Market Analysis: Mixed Signals Amid Regulatory Developments and Institutional Shifts
The current crypto market landscape presents a complex tapestry of institutional adoption, regulatory progression, and evolving competitive dynamics. Among the most significant developments is Macau’s completion of integration with the multi-central bank digital currency bridge (mBridge) system, marking a substantial step forward in cross-border CBDC adoption. This initiative, focused on efficient and secure cross-border payments, positions Macau as a key testing ground for international CBDC interoperability, potentially accelerating global CBDC integration and creating opportunities for projects facilitating cross-chain functionality.
Simultaneously, the U.S. Treasury’s announcement of steadily advancing strategic Bitcoin reserve represents a potential watershed moment for institutional adoption. Treasury Secretary Scott Bessent’s explicit support for establishing such a reserve, coupled with his push for the Clarity Act’s passage, suggests a significant regulatory pivot. If implemented, a strategic Bitcoin reserve would represent the most substantial institutional adoption to date, potentially creating substantial upward price pressure and legitimizing Bitcoin as a strategic asset for sovereign nations.
However, the crypto market continues to face regulatory scrutiny, exemplified by the DOJ’s “Disruption Week” operation that froze $3.8 million in crypto assets with participation from Coinbase, Meta, and other major tech firms. While this collaboration underscores increasing regulatory legitimacy, the reported 24% YoY increase in cryptocurrency investment scam losses to $7.2 billion highlights persistent market challenges. This creates a bifurcated risk environment: regulatory clarity benefits established players while potentially marginalizing fraudulent operations.
The Cosmos ecosystem’s acquisition of Mintscan and establishment of a Korean subsidiary demonstrates continued developer ecosystem expansion, particularly in Asia. This strategic move could enhance Cosmos’ interoperability proposition and strengthen its position against competing blockchain ecosystems. Similarly, Bitmine’s $300 million preferred share issuance at 9.5% annual dividends signals robust investor confidence in mining infrastructure, potentially accelerating technological advancements in the sector.
Contrasting these positive developments is the decline in crypto VC deal count to a five-year low of approximately 50 deals monthly. This market contraction, driven by investor shifts toward AI and a shortage of high-quality early-stage projects, reflects a maturing crypto landscape characterized by fewer but larger investments. While this suggests reduced speculative activity, it may also indicate a more sustainable foundation for future growth.
On the technical front, Standard Chartered’s analysis that Bitcoin “bottom is nearly in” at approximately $63,000 provides a contrarian perspective amid recent market volatility. The bank’s maintained year-end target of $100,000, supported by flat holdings in U.S. spot Bitcoin ETFs signaling structural stability, presents an optimistic outlook for Bitcoin’s medium-term trajectory.
The competitive tension between Polymarket and Kalshi, with allegations of corporate espionage, underscores the challenges facing prediction markets amid evolving regulatory frameworks. This dispute may accelerate regulatory clarity for prediction markets while potentially consolidating the sector around established players.
For experienced investors, the current environment presents both significant opportunities and risks. The potential establishment of a strategic Bitcoin reserve and accelerating CBDC adoption could drive substantial upside for Bitcoin and interoperability-focused projects. However, regulatory scrutiny and market maturation necessitate increased due diligence, with particular attention to projects demonstrating clear utility and regulatory compliance. The shift toward fewer but larger VC deals suggests a more selective investment environment, potentially favoring established projects with tangible use cases over speculative early-stage ventures.