Whale Wynn: I will make a comeback. Slow Mist has alerted about the Private Key network issue.

The Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news of the week, mining information, project updates, technological advancements, and other industry dynamics. This article is part of the news weekly, providing you with an overview of the major events in the blockchain industry this week.

Headline

▌****Whale James Wynn: I will make a comeback, as always

Whale James Wynn posted on platform X: “I will make a comeback, as always. I will enjoy doing this, love the game, love the swing. Money completely depends on mindset. I have placed a big bet, calculated carefully, and made a lot of money. Most of you wouldn’t dare; you lack the capability and the mindset. My monthly passive income is more than most of your annual income. However, money doesn’t truly make you rich. Peace, happiness, family, love, loyalty, health, nature, sunshine, dogs are what make you feel rich. And I have firmly kept all of this in my heart. I am now freer than before.”

****▌Michael Saylor elaborates on the guiding principles of “21 Ways to Get Rich” at the Bitcoin 2025 Conference

Michael Saylor, the founder of Strategy, delivered a keynote speech at the Bitcoin 2025 conference held in Las Vegas on Thursday, poetically praising Bitcoin and outlining what he calls the “21 principles of wealth.” to the audience and attendees. Michael Saylor stated, “Satoshi Nakamoto lit a fire in cyberspace. Those who are timid will flee from it, the ignorant will dance around it, while the loyal will add fuel to the fire, embracing the dream of a better world, basking in the warmth of the light of the blockchain. Many people feel fear when they see Bitcoin. They will never touch it, will never benefit from it, and will ultimately be left behind by the times. But those who truly understand it will add fuel to the fire. Buying Bitcoin is adding fuel to the fire.” Michael Saylor stated, “Take your fiat currency and convert it to Bitcoin. Take your long-term capital and convert it to Bitcoin. Sell your bonds and convert it to Bitcoin. Sell your low-quality stocks, sell your low-quality real estate, and buy Bitcoin.” This is the third path to wealth: courage. Besides courage, Michael Saylor also advises the audience to have confidence in Bitcoin’s potential.

▌ECB Governing Council: The rise of crypto assets requires technical measures to respond to it

European Central Bank Governing Council member Panetta: The rise of crypto assets requires technical responses, such as the digital euro project. The reputational risks associated with banks providing crypto assets need to be closely monitored. Crypto assets cannot be controlled solely through rules and restrictions.

****▌Slow Fog Cosine: The longer mnemonic phrases/private keys are used online, the more people share them, the easier they are to leak and harder to trace

The founder of Slow Mist, Yu Xian, stated that a user’s four sets of mnemonic phrases were leaked, and the funds in the corresponding four wallet addresses were stolen. From the on-chain operation methods, the hacker’s address received the funds and then converted everything into ETH, which was then laundered through FixedFloat. A reminder for everyone: the longer mnemonic phrases/private keys are used online and the more people they are shared with, the more likely they are to be leaked, and the more difficult it becomes to trace the cause of the leak.

▌The Republican Party of the U.S. House of Representatives has introduced the “Digital Asset Market Clarity Act,” which aims to establish the CFTC’s dominant regulatory position

According to a report by Jinse Finance, Republican members of the U.S. House of Representatives have officially introduced their latest version of the digital asset market regulatory bill, the “Clarity Act,” which aims to “establish a regulatory framework for the digital asset market, a call that has been made by the industry for many years.” This bill is seen as the successor to the previous “Financial Innovation and Technology Act,” driven by senior Republicans from the House Financial Services Committee and the Agriculture Committee. South Dakota Republican and chairman of the Agriculture Subcommittee Dusty Johnson stated, “The U.S. should be a leader in the global digital asset market, but to do that, a clear regulatory framework must be established.” The bill grants the Commodity Futures Trading Commission (CFTC) “exclusive regulatory jurisdiction” over the digital commodity spot market, allowing crypto platforms to register with the CFTC or the Securities and Exchange Commission (SEC) based on the nature of their trading in digital commodities or securities. The bill also includes: requiring crypto platforms to be regulated under the Bank Secrecy Act; exempting certain DeFi operations and wallet providers from SEC oversight; prohibiting future regulatory attempts to require custodial companies to account for client assets on their own balance sheets; and granting some regulatory authority over transactions involving payment stablecoins to existing relevant regulatory agencies. In addition, the bill requires the CFTC to define the standards for a “qualified digital asset custodian” and requires the SEC, CFTC, and the Treasury to submit a research report on DeFi within a year. If the bill is passed, all regulatory rules will take effect within a year.

Policy

▌The US SEC clarifies that three types of equity staking activities do not constitute securities issuance and sales

On May 29, the Corporate Finance Division of the U.S. Securities and Exchange Commission (SEC) issued a statement stating that “staking activities” in PoS networks do not involve the issuance and sale of securities under Section 2(a)(1) of the Securities Act of 1933 or Section 3(a)(10) of the Securities Exchange Act of 1934. Individuals and entities participating in such activities are not required to register with the SEC for such transactions, nor do they need to apply for registration exemptions. The statement covers three types of staking agreements: (1) “self-staking” where node operators stake their own crypto assets; (2) “self-custody staking” where asset holders stake through third-party node operators; (3) “custodial arrangements” where custodians lend crypto assets on behalf of clients and stake them. The statement emphasizes that “staking rewards belong to the services provided to validators by the PoS network according to its underlying protocol, rather than profits derived from the entrepreneurial or managerial efforts of others.”

****▌SEC meets with Kraken’s parent company to discuss regulatory pathways for tokenization and staking services

According to a memorandum on the SEC’s official website, the U.S. Securities and Exchange Commission (SEC) Crypto Assets Working Group held a meeting with representatives of Payward, Inc. (the parent company of Kraken) to discuss issues related to the regulation of crypto assets. The topics of the meeting included the tokenization of traditional assets and methods for promoting this in other jurisdictions, feasible paths for advancing tokenization within the United States, different types of “staking as a service,” potential benefits to the ecosystem, and how the SEC can provide regulatory clarity for related businesses under its existing authority.

****▌Hong Kong’s Stablecoin Regulation Officially Becomes Law

According to a report from Golden Financial, the Hong Kong Special Administrative Region government published the “Stablecoin Regulation” in the Gazette today, May 30, (, meaning that the “Stablecoin Regulation” officially becomes law, further improving the regulatory framework for digital asset activities in Hong Kong. The Hong Kong Legislative Council formally passed the bill on May 21 to establish a licensing system for issuers of fiat-backed stablecoins ) pegged to fiat currency in Hong Kong. According to the regulation, to enhance public protection, only designated licensed institutions may sell fiat-backed stablecoins in Hong Kong; only fiat-backed stablecoins issued by licensed issuers may be sold to retail investors. The Hong Kong Monetary Authority reminds that the stablecoin regulations will officially take effect later this year, and no licenses have been issued to any stablecoin issuers. Citizens should carefully discern information related to fiat-backed stablecoins and be wary of criminals using false advertising to commit fraud.

****▌New York City Comptroller Rejects Bitcoin Municipal Bond Plan

New York City Comptroller Brad Lander vetoed Mayor Eric Adams’ proposal to issue Bitcoin-backed municipal bonds. Lander stated, “During my tenure, the largest city in America will not issue Bitcoin-backed bonds.”

****▌US judge rejects order for Justice Department to review materials in Roman Storm case

The federal judge responsible for the case of Tornado Cash developer Roman Storm denied the request for the Department of Justice to review case records to search for materials that could potentially assist Storm’s defense team.

Blockchain Application

▌Kazakhstan will launch a pilot zone for cryptocurrency payments and applications

Kazakhstan’s President Tokayev stated that Kazakhstan plans to launch a crypto pilot zone called “CryptoCity” that will allow the use of cryptocurrencies to purchase goods and services. The relevant statement was published on the presidential website on May 29. Tokayev mentioned at the 2025 Astana International Forum that this pilot zone will explore the adoption of cryptocurrencies in a regulated sandbox environment. He said, “We plan to create an innovative pilot zone called CryptoCity, where cryptocurrencies can be used to purchase goods, services, and even achieve broader applications.”

****▌The Dubai Land Department has launched a property tokenization platform based on the XRP Ledger, expected to reach a scale of $16 billion by 2033

The Dubai Land Department (DLD) has partnered with real estate fintech company Prypco and infrastructure provider Ctrl Alt to launch the first real estate tokenization platform, Prypco Mint. The platform will tokenize property ownership contracts and synchronize with official real estate records, deployed on the XRP Ledger Blockchain. This initiative is part of a government-backed project, aiming to tokenize 7% of the Dubai real estate market by 2033, amounting to $16 billion. The platform currently supports transactions only in UAE Dirhams and is limited to UAE ID holders, with plans to expand global access in the future. Zand Digital Bank serves as its banking partner, with oversight from the Central Bank of the UAE, the Dubai Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation’s real estate sandbox.

****▌Conduit completed a $36 million Series A financing, led by Dragonfly Capital

The stablecoin company Conduit has completed a $36 million Series A financing round, led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG, and Commerce Ventures. After this Series A financing round, Conduit’s total financing amount has reached $53 million. The company has not disclosed the valuation for this round of financing.

****▌Gaming distribution platform Oncade completes $4 million in financing, led by a16z Crypto CSX

On May 29th, news came that the game distribution platform Oncade announced the completion of a $4 million financing round, led by a16z Crypto CSX. Oncade is committed to reshaping the game distribution model by transforming passionate communities into powerful distribution channels, helping game studios enhance sales and user engagement. The platform adopts a pay-per-sale model, which can save game studios up to 30% of traditional platform costs. At the same time, players can earn rewards by promoting their favorite games to friends.

▌Donut Labs Closes $7 Million Seed Round, Led by Sequoia Capital and Others

Donut Labs announced the closing of a $7 million seed round led by Sequoia Capital, Bitkraft, and HackVC, with participation from Matrix Partners, Sky9 Ventures, Makers Fund, and SonicSVM, among others, with new funds to support the development of Donut, an executable crypto browser powered by AI agents with a native cryptocurrency wallet and decentralized exchange integration, Decentralized network access and on-chain execution.

Cryptocurrency

▌FTX creditor representative: Kraken has issued a fund distribution notice to creditors

Sunil, a representative of FTX creditors, stated on social media that Kraken has issued a fund distribution notice to FTX creditors. The fund distribution date for FTX US creditors is May 30, 2025, with a total debt amount of approximately 312 million USD, and the fund distribution date for FTX international creditors is June 2, 2025. Earlier this morning, FTX announced that it has begun distributing the second round of over $5 billion in allocation payments to “convenience” and “non-convenience” creditors who have completed the pre-distribution requirements. Customers are expected to receive the funds within 1 to 3 business days starting today.

****▌Slow Fog Cosine: The new mechanism of EIP-7702 is widely used by stolen coin gangs

Slow Fog’s Yuxian stated on platform X that the “most High” users of the new mechanism EIP-7702 are actually theft groups (not phishing groups), facilitating the automatic transfer of related funds from wallet addresses that have leaked private keys/mnemonic phrases… Over 97% of EIP-7702 delegations are authorized to such theft contracts.

****▌Arkham: The current holding balance of whale James Wynn’s address is only 16.28 USD

The on-chain intelligence analysis platform Arkham stated on platform X that the whale James Wynn’s address currently has a balance of only 16.28, which is suspected to have been completely liquidated.

****▌The US Bitcoin spot ETF holds approximately 1.205 million BTC, with BlackRock’s IBIT ranking first with about 660,000 coins

According to data from HODL15Capital, as of today, the Bitcoin spot ETFs in the United States hold a total of 1,205,626 BTC, with BlackRock’s IBIT leading the pack with 660,814 BTC, followed by Fidelity’s FBTC and Grayscale’s GBTC with 198,159 BTC and 186,622 BTC respectively.

****▌Whale James Wynn: Multiple exchange accounts have been closed without reason, and he may seek legal avenues to request unblocking

Whale James Wynn posted on platform X stating that he is being targeted by certain exchanges but will fight back. He wrote: “My multiple exchange accounts were closed overnight for no reason. Do you know why? Because I support decentralization and oppose corruption. I support HyperLiquid and oppose market manipulation. Come find me, my record is clean, my trades are clean, my ‘source of funds’ is legitimate, and I’ve paid taxes, millions. I will find a lawyer, these exchanges should unblock my accounts, or I will expose them.”

Important Economic Dynamics

▌U.S. Treasury Secretary says China trade talks are “a bit stalled,” Foreign Ministry responds

At a regular press conference held by the Chinese Ministry of Foreign Affairs on May 30, spokesperson Lin Jian responded to questions from foreign media, stating that the Chinese side has repeatedly clarified its position on the tariff issue, and for specific matters, it is recommended that you inquire with the relevant departments of the Chinese side. (The Paper)

****▌Mitsubishi UFJ: The Federal Reserve may have been too late to cut interest rates, which could lead to a weakening of the dollar

Derek Halpern, an analyst at Mitsubishi UFJ, pointed out in a report that the Federal Reserve may need to support the economy by cutting interest rates later this year, which could lead to a weaker dollar. He stated that the Fed’s pause on rate cuts may last until the summer, and the market does not expect another rate cut before September. This means that the Fed may fall significantly behind other G10 central banks in restoring interest rates to a neutral level that neither stimulates nor constrains economic growth. This suggests that the Fed will need to take more easing measures at that time, which we believe will become a factor in suppressing the dollar later this year. ( Jinshi )

****▌US Treasury bonds expand gains, with the 10-year yield currently at 4.409%

The US Treasury bonds have widened their gains, with the 2-year yield reported at 3.924% and the 10-year yield currently at 4.409%. ( Jin Shi )

****▌Trump claims he will raise the import steel tariff to 50%

On the 30th local time, U.S. President Trump stated that he would raise the import tariff on steel from 25% to 50%. Trump signed an executive order on February 10, announcing a 25% tariff on all steel and aluminum imported into the United States. The measure imposing a 25% tariff on all steel and aluminum imported into the United States officially took effect on March 12.

****▌Important events and data forecast for next week: Federal Reserve officials will speak intensively, and the U.S. May non-farm payroll data will be released

The following are the key points that the market will focus on in the new week (all in Beijing time): Next week, multiple officials including Powell from the Federal Reserve will speak intensively: On Monday at 08:00, Federal Reserve Governor Waller will speak on economic prospects at the 2025 Bank of Korea International Conference; On Tuesday at 00:45, 2025 FOMC voting member and Chicago Fed President Goolsbee will participate in a Q&A event; Tuesday 01:00, Federal Reserve Chairman Powell delivers opening remarks at an event; On Wednesday at 00:45, 2025 FOMC voter and Chicago Fed President Goolsbee will participate in a Q&A event; On Wednesday at 20:30, 2027 FOMC voting member, Atlanta Fed President Bostic, and Federal Reserve Governor Lisa Cook will attend the “Federal Reserve Listening” event; Thursday 02:00, the Federal Reserve releases the Beige Book on economic conditions; On Friday at 00:00, Federal Reserve Governor Cook will speak at the New York Economic Club; On Friday at 01:30, 2026 FOMC voting member and Philadelphia Fed President Harker will speak on the economic outlook; On Friday at 20:30, the United States will release the unemployment rate for May, the seasonally adjusted non-farm payrolls for May, and the year-on-year/month-on-month average hourly wage data for May. According to the median of a Bloomberg survey, after exceeding expectations in job growth in March and April, economists expect an increase of 125,000 in May. This will keep the average increase over the past three months at a robust level of 162,000. The unemployment rate remains at 4.2%.