Bitget Daily Digest (June 10, 2025)｜First China-U.S. Trade Consultation Meeting Held in London; SEC Chair Says “Innovation Exemption” Policy for DeFi in the Works

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远山洞见2025/06/10 01:44

By:远山洞见

Bitget Daily Digest (June 10, 2025)｜First China-U.S. Trade Consultation Meeting Held in London; SEC Chair Says “Innovation Exemption” Policy for DeFi in the Works image 0

🔎 Today’s Preview

1.US NFIB Small Business Optimism Index (May) to be released today. Previous: 95.8

2.US House of Representatives to review crypto market structure bill on June 10

3.The Blockchain Group to hold its annual shareholder meeting on June 10, seeking approval to raise €10 billion to accelerate BTC reserve strategy

4.TRON Mainnet to vote on proposal reducing block and voting rewards, vote expected to begin June 10

🌐 Macro & Hot Topics

1.First China–U.S. Trade Consultation Mechanism Meeting Begins in London The meeting kicked off on June 9 and will continue until June 13. White House Economic Council Director Kevin Hassett revealed that the U.S. may consider easing export controls in exchange for China loosening restrictions on rare earth exports. People’s Daily emphasized the mutual benefits of China–U.S. trade cooperation and called for dismantling artificial barriers.

2.SEC Chair: “Innovation Exemption” Policy for DeFi in Development At a crypto roundtable, SEC Chairman Paul Atkins stated that the agency is working on an “innovation exemption” tailored for DeFi platforms. The goal is to allow SEC-registered entities to launch on-chain products with fewer regulatory barriers. Hester Peirce reaffirmed that code publishers shouldn't be held accountable for others' use of their code, and that centralized entities can't evade oversight by simply claiming to be “decentralized.” With Republicans holding a 3:1 majority, more crypto-friendly policies may be forthcoming.

3.U.S. Job Trends Index Drops Amid Tariff Concerns The Conference Board's Employment Trends Index (ETI) dropped from 108.00 to 107.49 in May, citing tariff-related uncertainties. While hiring remains stable, certain industries are beginning to show signs of stress.

4.Michelle Bowman Sworn In as Vice Chair for Supervision of the Federal Reserve Bowman, nominated by Trump and confirmed by the Senate on June 4, will serve as Vice Chair for Supervision until June 2029. Her full term as a Board member runs until January 2034.

5.Paraguayan President’s X Account Hacked, Posts Fake Bitcoin Legal Tender News A false post claimed Paraguay would make BTC legal tender and launch a $5M BTC reserve fund. Authorities have denied the news and are investigating with X’s security team.

6.BlackRock’s Spot Bitcoin ETF Hits $70B AUM Faster Than Any Fund in History BlackRock’s IBIT reached $70B in just 341 trading days— 5x faster than gold ETF GLD, which took 1691 days. According to Arkham, IBIT now holds 2.8% of Bitcoin’s total supply.

📈 Market Performance

1.$BTC Breaks $110K, $422M in 24h liquidations, mainly shorts. Meme coins such as $PONKE, $NPC, $WIF, $DOGE, $PEPE rally sharply.

2.Chip stocks lead S&P 500 & Nasdaq higher for a second day; Tesla +4%, Nvidia +2%. Chinese ADR Index +2%, outperforming major indexes.

3.Bitget Liquidation Heatmap:

At $110,216:Drop to $109,216 → $470M long liquidations

Rise to $112,216 → $264M short liquidations

→ Long exposure higher; traders advised to manage leverage.

4.BTC Net Inflow: $40M (Inflow: $970M, Outflow: $930M)

5.Top Net Outflow Contracts (24h): $HMSTR, $WLD, $PEPE, $JELLYJELLY, $OP—potential trading setups

🧠 Institutional Insights

Analyst: Widening gap between BTC 50D & 200D moving averages suggests mid-term bullish momentum Read more

Bernstein: Ethereum at critical inflection point transitioning from speculation to financial innovation Read more

Fed Whisperer: Uncertainty in mid-term inflation expectations remains elevated Read more

📰 News Highlights

1.Strategy purchased 1,045 BTC for $110M last week

2.SEC Chair: Self-custody is a core American value

3.Paraguay: BTC legal tender news is fake, investigation underway

4.Brazil proposes 17.5% capital gains tax on all financial assets

5.Ethiopia preparing crypto regulatory framework

🔧 Project Updates

1.Telegram Founder: TON is now the top chain by NFT volume

2.Tron stablecoin supply surged by $1.04B in 7 days; Solana saw $99M outflows

3.Rune has bought back 8.29M SKY with $630K USDS

4.Pump.fun eyes $1B fundraising, sparking Solana liquidity concerns

5.Aave total borrowings hit $16B ATH

6.Plasma: >1,100 wallets staked, median $35K

7.Avalon Labs burned 80M AVL (44% of circulating supply)

8.Defi App increases airdrop allocation from 5% to 10%

9.Nasdaq seeks SEC approval to add XRP, SOL, ADA, XLM to crypto index

10.Ethereum proposes GDPR-compliant privacy roadmap

🔥 Trending on X

@hellosuoha: "$KTA ignites Base hype — same old playbook, new chain."

The momentum on Base is quietly building, but the underlying mechanics are nothing new: on one side, TGE projects backed by Coinbase-affiliated capital; on the other, low-float tokens within the Virtuals ecosystem. Tokens like $KTA have created a textbook example of “getting rich,” prompting the market to reprice under-the-radar Base projects. Read more

@yuyue_chris: "Solana meme exchange wars heat up — will Pump’s token kill the game?"

Over the past 48 hours, Solana's new DEX landscape has seen classic rotational hype. Yesterday it was the Launchcoin crew with $PCULE and $KLED; today it’s $CRYBB and $USELESS backed by Bonk, plus $VERSE—Pump's long-teased 1B token drop. These projects compete fiercely for attention and liquidity, each pulling a short-lived rally. Read more

@0xCryptoFries: "Guide to spotting whales: monitoring address activity and cost basis with tools like Faster100x"

Finding whales on-chain isn't voodoo—it’s a repeatable process rooted in logic. The key lies in three things: tracking wallet movements, analyzing positions, and calculating cost basis. These data points help you determine whether a token is worth betting on. Read more

@jason_chen998: "BTC developers reaffirm anti-censorship stance — Ordinals and inscriptions may see resurgence."

In early June, Bitcoin Core’s official forum published a rare open letter signed by several developers, voicing opposition to restricting the packaging and propagation of non-financial transactions on the Bitcoin network. This move is seen as a defense of Bitcoin’s censorship-resistant ethos. Read more

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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