Bing Ventures

Top 10 #Crypto #Fundraising Events in the Last Two Weeks (May 10 - May 23) There have been 36 funding rounds in the past two weeks. BTC price breaks to a new high with aggressive market sentiment. 1. Worldcoineros, invested by a16z crypto, Bain Capital Crypto, Selini 2. Slash, invested by Goodwater Capital 3. Catena Labs, invested by a16z crypto, Breyer Capital, Circle Ventures 4. Roxom, invested by Draper Associates, Borderless Capital, KingsWay Capital 5. Gnosis HQ, invested by Gnosis 6. TrueX, invested by Accomplices, RRE Ventures, Reciprocal Ventures 7. Perpl, invested by Dragonfly, Ergonia, Brevan Howard 8. KYD Labs, invested by a16z crypto 9. Turtle Club, invested by Theia, Susquehanna International Group, Consensys 10. XP, invested by Blockchange Ventures, L1D AG, Reflexive Capital

#ChartoftheDay Nearly a week has passed since Elon Musk and Donald Trump’s public heated exchanges, marking a stark shift from their once-close alliance during the election to now openly criticizing each other. While the surface shows increased hostility—Musk criticizes the "One Big Beautiful Bill Act" and suggests forming a new party, and Trump refuses to engage in direct communication—the true state of their relationship remains uncertain. This conflict has taken a heavy toll on Tesla’s stock. On June 6, Tesla’s shares plummeted by over 17% and closed down more than 14%, resulting in a record single-day market cap loss of $153 billion—the largest in Tesla’s history. Musk’s holdings also shrank by around $19.5 billion. The fallout isn’t just financial: Trump threatened to revoke Tesla’s government subsidies and contracts, fueling investor fears and causing widespread stock sell-offs. However, amid the turmoil, there are signs of a potential shift. Trump recently stated he wouldn't abandon Tesla or SpaceX, hinting at a possible rapprochement. Tesla’s stock has rebounded from its recent lows, but the conflict between Musk and Trump is far from over, with ongoing uncertainties about their future interactions. #Tesla #ElonMusk #DonaldTrump

#ChartoftheDay Ethereum Foundation published a blog titled “Announcing Protocol,” revealing a major restructuring of its core team — the Protocol R&D (PR&D) team — renaming it simply as “Protocol.” This rebranding does not affect the Foundation's overall name but signifies a renewed focus on protocol development. The new “Protocol” team embodies the Foundation’s commitment to advancing Ethereum’s core protocol development and centers on three strategic objectives: 1. Layer 1 Scaling: Enhancing the mainnet’s performance and capacity to support higher transaction throughput. 2. Layer 2 Expansion: Enhancing scalability solutions, such as rollups, to bolster network extensibility. 3. User Experience (UX): Making Ethereum more user-friendly and accessible to attract more developers and users. These goals directly address the community’s primary concerns around scalability and usability, aiming to resolve existing network bottlenecks through technical upgrades. The Ethereum Foundation, a key organization supporting Ethereum’s development, has faced ongoing criticism over management, strategic direction, and technical progress in recent years. Early 2025 saw leadership restructuring and the launch of this core team realignment, emphasizing the importance of mobilizing all Protocol members’ expertise to tackle current challenges.

Top 10 #Crypto #Fundraising Events in the Last Two Weeks (May 24 - June 06) There have been 44 total funding rounds in the past two weeks. The crypto venture capital deal volume fell to its lowest level of the year in May, with only 62 rounds completed — a new low since January 2021. 1. Twenty One Capital 2. Conduit, invested by Dragonfly, Sound Ventures, Altos Ventures 3. Rails, invested by Slow Ventures, Kraken Ventures, CMCC Global 4. Avantis, invested by Founders Fund, Pantera Capital, SALT Fund 5. Donut, invested by 红杉中国, BITKRAFT Ventures, Hack VC 6. Beam, invested by Castle Island Ventures, Archetype, Bankless Ventures 7. Cooking.City, invested by Jump Crypto, CMT Digital, Mirana Ventures 8. 3Jane, invested by Paradigm, Coinbase Ventures, Wintermute 9. Rumi Labs io, invested by a16z crypto, Escape Velocity (EV3), NxGen 10. Oncade, invested by a16z crypto

#ChartoftheDay As U.S. regulatory progress accelerates, the once-stalled IPO plans of stablecoin giant Circle have been revived. On May 27, Circle disclosed the latest updates on its New York Stock Exchange IPO listing application. According to official filings, Circle aims for a valuation of $6.71 billion, issuing 24 million Class A common stock, 9.6 million of which will be through new issuance and 14.4 million from existing shareholders, with an estimated price range of $24 to $26 per share. Furthermore, on June 2, Bloomberg reported that Circle, in a filing with the SEC, plans to issue 32 million shares at a price range of $27 to $28 per share, valuing the company at approximately $7.2 billion — nearly double the previous estimates of $4 to $5 billion. This sharp valuation jump reflects heightened investor interest, with major institutional players like BlackRock and Coinbase showing significant attention in the IPO. There were earlier reports that Circle was negotiating sales with Coinbase and Ripple, although the company officially denied these rumors. After a seven-year IPO journey, Circle appears poised to complete its offering this year with strategic policy support, marking a milestone for the crypto industry. #Circle #IPO #Crypto #Stablecoin #Regulation

This study reexamines CommunityFi and ConsumerFi projects through data and case studies, challenging conventional perceptions of Web3 users. https://lnkd.in/gXRG7PDK

#ChartoftheDay Last week, Bitcoin's price surged past $110,000, reaching a historic high, driven by progress in U.S. regulatory approval for cryptocurrencies. This rally also coincided with a record-breaking net inflow into Bitcoin spot ETFs. According to Farside Investors, U.S.-listed Bitcoin spot ETFs experienced a combined net inflow of $44.499 billion over the weekend, surpassing previous records. The surge in ETF inflows suggests increasing institutional interest and broader participation from traditional finance in crypto markets. Notably, the Trump family has played a significant role in this shift, actively exploring various segments of the crypto space—from meme coins to stablecoins—and establishing relationships with industry leaders like Justin Sun, Binance, Crypto.com, and hosting prominent crypto dinners. However, the Trump family's deep involvement also introduces long-term uncertainty for the industry. Despite recent progress, there remain strong opposition voices within U.S. authorities, making the future of crypto regulation in the U.S. highly delicate. The political relationships built during Trump's tenure could potentially unravel due to shifting political dynamics or the end of his political career. #Bitcoin #Crypto #ETF #Regulation #US

#ChartoftheDay The largest DEX and liquidity provider on the Sui blockchain, Cetus Protocol, suffered a major hack. According to the official statement and on-chain data, the attack resulted in losses of approximately $223 million, including about $52 million in $SUI, $4.9 million in $Haedal Staked SUI (HASUI), $19.5 million in $TOILET, and another $19.5 million in wrapped USDT, along with tokens like Lombard Staked BTC (LBTC) and AXOLcoin (AXOL). Following the attack, the price of $SUI dropped by 7%, reaching a low of $3.9 before stabilizing. Data from the DEX screener shows that many tokens on Cetus have plunged over 75% in the past few days, with liquidity pools nearly drained. The hackers exploited vulnerabilities in Cetus’s price curves and reserves, injecting spoof tokens to manipulate prices. They initially withdrew around $11 million worth of $SUI from the SUI/USDC pool, then expanded attacks to other pools, including HASUI, TOILET, and wrapped USDT, likely due to calculation precision issues in the oracle, which caused abnormal pricing and allowed low-cost extraction of large amounts of real assets. The stolen funds were transferred across chains to Ethereum. In response, Cetus quickly paused all smart contracts to prevent further losses. $162 million has been frozen and is planned for restitution to liquidity providers. Currently, the frozen assets on the Sui blockchain are being processed through on-chain validator votes and white-hat recovery initiatives, while off-chain assets remain under investigation. Cetus has pledged to use all resources to maximize asset recovery and compensate users. Details of the compensation plan will be announced once the recovery amount is clarified. #Sui #Cetus #DeFi #Crypto #CrossChain #Blockchain #Security

#ChartoftheDay According to the latest data from DefiLlama, the total supply of USDT, the stablecoin issued by Tether, has surpassed $150 billion, reaching a new all-time high of approximately $152 billion. Since 2025, the issuance volume has been steadily increasing. With President Trump’s tenure, the U.S. has increasingly emphasized crypto compliance and real-world assets (RWA), especially regarding stablecoins representing RWAs. Both the Senate and House have proposed legislation related to stablecoins. Notably, the Senate’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act recently entered formal review after a voting process. While the final vote may take several weeks, its passage would mark a milestone for the stablecoin and broader crypto industry. Most dollar-pegged stablecoins are backed by USD and cash equivalents, such as short-term treasuries. Stablecoin issuers have increasingly become major holders of U.S. Treasury debt. Tether CEO Paolo Ardoino announced on social media that Tether’s holdings of U.S. Treasuries now exceed those of Germany’s entire holdings. As RWA initiatives grow and stablecoin issuance expands, issuers are poised to become significant holders of U.S. debt, linking the stablecoin ecosystem more deeply with the macro-financial system. #Stablecoins #USDT #RWA #Regulation #USDebt #Tether

#ChartoftheDay According to The Block, Coinbase (stock ticker: COIN) will replace Discover Financial Services (DFS) in the S&P 500 starting May 19, marking the first time a pure crypto company has been included in this benchmark index. This move follows Discover’s acquisition by Capital One Financial, which prompted Coinbase’s inclusion, highlighting the growing recognition of crypto firms in mainstream markets. Coinbase launched on Nasdaq on April 14, 2021, with a peak initial price of $429.54 and a valuation reaching $85 billion, representing a milestone for crypto’s institutional acceptance. Today, four years later, Coinbase’s addition to the S&P 500 is a recognition of its scale and profitability and a symbol of the crypto industry’s maturation, especially against the backdrop of institutional investor participation and clearer regulation. The S&P 500’s composition is reviewed quarterly by the index committee. For 2024, the criteria include a minimum market cap of $205 billion, good liquidity, and a high proportion of free float shares. Companies must also be profitable in the latest quarter, with positive net profits over the past four quarters. Coinbase’s full-year 2024 results meet these standards: total revenue of $6.564 billion (up 111%), net income of $2.593 billion, with trading revenue at $3.986 billion (up 162%) and subscription & services at $2.307 billion (up 64%). These strong financials demonstrate Coinbase’s ability to maintain profitability amid market volatility, satisfying the index’s profit and growth requirements. However, despite solid financial performance, Coinbase faced a data breach disclosure on May 15. Hackers reportedly paid offshore customer service personnel to steal personal information, affecting less than 1% of active users and raising concerns over data security. Additionally, the SEC is investigating whether Coinbase misrepresented user metrics during its 2021 IPO. Although Coinbase claims to cooperate and believes its disclosures are accurate, ongoing scrutiny could impact investor confidence and perceptions of compliance. #Coinbase #SP500 #Crypto #Regulation