Trump pushes for the inclusion of Crypto Assets in pension accounts, facing litigation risks.
For employers with legal obligations to monitor employees' 401(k) investments, the potential risk of litigation could hinder U.S. President Donald Trump's push to include more cryptocurrencies in employee retirement accounts. The U.S. Department of Labor has revoked guidance from the Biden administration, which warned corporate retirement plans to avoid allocating digital assets. It's part of a broader policy shift by the White House to push for the opening of 401(k) accounts to alternative assets, including private equity, especially as Trump-backed businesses ramp up their Bitcoin investments. Currently, crypto assets account for less than 1% of the $9 trillion 401(k) market, which has traditionally been almost entirely concentrated in stocks and bonds. Note: "Benefit litigation" refers to legal proceedings brought by or on behalf of employees, retirees against employers, pension plan administrators (trustees) or related organizations regarding employee benefit plans such as pensions, 401(k), medical insurance, etc. -original
Hong Kong Reitar Logtech announces plans to acquire 1.5 billion USD worth of Bitcoin.
Morgan Stanley predicts that the US dollar will continue to weaken over the next year.
Odaily Planet Daily reported that Morgan Stanley Research strategists Vishwanath Tirupattur and Serena Tang stated in a report that the continued weakness of the dollar over the next 12 months is a key theme for Morgan Stanley Research. They said, "We expect the dollar to continue to weaken as U.S. interest rates and economic growth converge with peers." The increase in foreign exchange hedging liquidity has led to a further rise in risk premiums, which will increase the selling pressure on the dollar. Other safe-haven currencies such as the yen, Swiss franc, and euro are expected to benefit from this.
Strategy to further increase holdings in Bitcoin, with a position exceeding 580,000 coins.
Strategy (formerly MicroStrategy) has announced it will issue 2.5 million shares of 10% annual interest perpetual preferred shares "Stride" (STRD) to institutional and some non-institutional investors, raising funds for the purchase of Bitcoin and general operations. Previously, it issued "Strike" preferred shares with a 13% yield and "Strife" with a 10% yield. STRD cannot be converted into common stock and has no maturity date. The company currently holds approximately 580,955 coins of Bitcoin, valued at over $60 billion. - Original text
Circle plans to go public in the US with a valuation of $7.2 billion.
Due to strong investor demand, Circle has increased the number of IPO shares and the price range. -Original
The U.S. Senate may vote on the "GENIUS Act" this week, focusing on stablecoin regulation.
FOX Business reporter Eleanor Terrett said the U.S. Senate is preparing for a potential vote on the GENIUS Act as amendment negotiations heat up. A new poll has increased pressure on U.S. lawmakers to act quickly. The U.S. Senate will resume work on Monday, and at 5:30 p.m. ET there will be a vote on one of Trump's nominees for a Department of Defense official, but the real focus is behind the scenes: Lawmakers are pushing for a bipartisan Republican-Democratic bipartisan GENIUS Act (a stablecoin legislation) that Republican leaders hope will pass the Senate this week. According to people familiar with the matter, the bill's proponents are trying to reach a "unanimous agreement" that would allow for a quick vote on a series of amendments without having to initiate a full procedural voting process (cloture). -original
Consensys acquires Web3Auth to optimize MetaMask mnemonic management.
Blockchain software development company Consensys has announced the acquisition of wallet infrastructure provider Web3Auth for an undisclosed amount. The acquisition aims to enhance the user experience of its wallet, MetaMask. According to Consensys, the move is specifically designed to address "one of the biggest risks" in the self-custody process – the issue of mnemonic word management. According to the data, about 35% of users don't back up their seed phrases, putting their funds at risk of being lost. By integrating Web3Auth, MetaMask users will be able to create and restore wallets using familiar Web2 login methods, such as social accounts and device authentication, without the need to manually back up their seed phrases, reducing the risk of losing funds. -original
Bitcoin ETF net outflow of 7157 coins, ETH ETF net inflow of 26572 coins.
Today, 10 US Bitcoin ETFs had a net outflow of 7,157 BTC, with BlackRock experiencing an outflow of 4,113 BTC. Currently, BlackRock holds 660,842 BTC, valued at 6.888 billion USD; 9 Ethereum ETFs had a net inflow of 26,572 ETH, with BlackRock seeing an inflow of 27,241 ETH. Currently, BlackRock holds 1,417,021 ETH, valued at 3.55 billion USD. -Original text
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AiCoin Daily Report (June 03)
For employers with legal obligations to monitor employees' 401(k) investments, the potential risk of litigation could hinder U.S. President Donald Trump's push to include more cryptocurrencies in employee retirement accounts. The U.S. Department of Labor has revoked guidance from the Biden administration, which warned corporate retirement plans to avoid allocating digital assets. It's part of a broader policy shift by the White House to push for the opening of 401(k) accounts to alternative assets, including private equity, especially as Trump-backed businesses ramp up their Bitcoin investments. Currently, crypto assets account for less than 1% of the $9 trillion 401(k) market, which has traditionally been almost entirely concentrated in stocks and bonds. Note: "Benefit litigation" refers to legal proceedings brought by or on behalf of employees, retirees against employers, pension plan administrators (trustees) or related organizations regarding employee benefit plans such as pensions, 401(k), medical insurance, etc. -original
Hong Kong Reitar Logtech announces plans to acquire 1.5 billion USD worth of Bitcoin.
Morgan Stanley predicts that the US dollar will continue to weaken over the next year.
Odaily Planet Daily reported that Morgan Stanley Research strategists Vishwanath Tirupattur and Serena Tang stated in a report that the continued weakness of the dollar over the next 12 months is a key theme for Morgan Stanley Research. They said, "We expect the dollar to continue to weaken as U.S. interest rates and economic growth converge with peers." The increase in foreign exchange hedging liquidity has led to a further rise in risk premiums, which will increase the selling pressure on the dollar. Other safe-haven currencies such as the yen, Swiss franc, and euro are expected to benefit from this.
Strategy (formerly MicroStrategy) has announced it will issue 2.5 million shares of 10% annual interest perpetual preferred shares "Stride" (STRD) to institutional and some non-institutional investors, raising funds for the purchase of Bitcoin and general operations. Previously, it issued "Strike" preferred shares with a 13% yield and "Strife" with a 10% yield. STRD cannot be converted into common stock and has no maturity date. The company currently holds approximately 580,955 coins of Bitcoin, valued at over $60 billion. - Original text
Due to strong investor demand, Circle has increased the number of IPO shares and the price range. -Original
FOX Business reporter Eleanor Terrett said the U.S. Senate is preparing for a potential vote on the GENIUS Act as amendment negotiations heat up. A new poll has increased pressure on U.S. lawmakers to act quickly. The U.S. Senate will resume work on Monday, and at 5:30 p.m. ET there will be a vote on one of Trump's nominees for a Department of Defense official, but the real focus is behind the scenes: Lawmakers are pushing for a bipartisan Republican-Democratic bipartisan GENIUS Act (a stablecoin legislation) that Republican leaders hope will pass the Senate this week. According to people familiar with the matter, the bill's proponents are trying to reach a "unanimous agreement" that would allow for a quick vote on a series of amendments without having to initiate a full procedural voting process (cloture). -original
Blockchain software development company Consensys has announced the acquisition of wallet infrastructure provider Web3Auth for an undisclosed amount. The acquisition aims to enhance the user experience of its wallet, MetaMask. According to Consensys, the move is specifically designed to address "one of the biggest risks" in the self-custody process – the issue of mnemonic word management. According to the data, about 35% of users don't back up their seed phrases, putting their funds at risk of being lost. By integrating Web3Auth, MetaMask users will be able to create and restore wallets using familiar Web2 login methods, such as social accounts and device authentication, without the need to manually back up their seed phrases, reducing the risk of losing funds. -original
Today, 10 US Bitcoin ETFs had a net outflow of 7,157 BTC, with BlackRock experiencing an outflow of 4,113 BTC. Currently, BlackRock holds 660,842 BTC, valued at 6.888 billion USD; 9 Ethereum ETFs had a net inflow of 26,572 ETH, with BlackRock seeing an inflow of 27,241 ETH. Currently, BlackRock holds 1,417,021 ETH, valued at 3.55 billion USD. -Original text
The above is the selected highlights from the past 24 hours. For faster news, please download AiCoin ()