Trump and Musk break up, Beijing Public Security Bureau pioneered the disposal mechanism for virtual currency involved in the case

**Author:** DeepFlow TechFlow  

**Yesterday's Market Dynamics**  

**U.S. Initial Jobless Claims for the Week Ending May 31:** 247,000, versus an expected 235,000.  

According to Jinshi Data, the U.S. initial jobless claims for the week ending May 31 were 247,000, higher than the expected 235,000. The previous figure was revised from 240,000 to 239,000.  

**Trump: Disappointed in Musk, Could Win Pennsylvania Without Him**  

U.S. President Trump stated, "Even without Musk, I can win Pennsylvania. I am disappointed in Musk. His dissatisfaction stems purely from the cancellation of electric vehicle mandatory sales rules. He hasn’t spoken ill of me yet, but that will happen soon," according to Jinshi Data.  

**Musk Retweets 'Trump Should Be Impeached' Post**  

Musk retweeted a discussion post stating, "Trump should be impeached and replaced by JD Vance," and commented, "Yes."  

**Binance Updates Alpha Points Rules: Only Alpha Token or Spot-Listed Tokens Eligible for Trading Volume Points**  

According to official news, Binance Wallet announced updates to the Binance Alpha points rules. Starting June 6 at 08:00, only Alpha purchases made using Binance Alpha tokens or tokens listed on Binance’s spot market will qualify for Alpha trading volume points. Trades using any other tokens will not be counted, and selling Alpha tokens will not affect trading volume points.  

**CUDIS Airdrop Claims Now Open**  

CUDIS, an AI-driven wearable DePIN project, announced that claims for its CUDIS token airdrop are now officially open.  

Previously, CUDIS unveiled its token economics: the total supply of CUDIS tokens is 1 billion, with a TGE (Token Generation Event) circulation of 24.75% of the total supply. 25% of tokens will be allocated to the community to incentivize user participation across multiple seasons, with 5% allocated to the first season. The first airdrop claim period will open at 20:00 Beijing time on June 5, with a total of 50 million CUDIS tokens distributed to over 60,000 active community users.  

**YZi Labs Invests in OneKey to Expand into Self-Custodial Security for Crypto Assets**  

According to official news, YZi Labs recently announced an investment in OneKey, an open-source hardware wallet project, aiming to enhance global crypto asset security and promote self-custodial solutions.  

**Gate CBO: Compensation for Abnormal Price Volatility in LA/USDT Futures Contracts**  

Gate Exchange CBO Kevin Lee released a statement addressing the abnormal price volatility in LA/USDT futures contracts on the evening of June 4. The incident was caused by abnormal contract index data leading to erroneous mark prices on the platform, triggering a chain reaction in the system. Gate promptly delisted the relevant trading pair and fully compensated all users with liquidation losses, totaling over 30 million USDT. The platform stated that the incident was not manually operated and involved no "single-point liquidation" or data tampering.  

**Greeks.live: Largest Ever Crypto Options Block Trade Signals Bullish Q3 Outlook for BTC**  

According to macro analyst Adam from Greeks.live, the crypto market saw its largest-ever options block trade, with a total notional value of $1.19 billion involving 11,350 BTC and a premium of $7.5 million.  

The trade consists of two parts: one is buying 3,800 September bull call spreads to go long on medium-to-long-term volatility and prices; the other is selling June at-the-money call options to form a calendar spread strategy. Analysts believe this indicates traders expect limited BTC gains in June but a potential 50% surge in Q3.  

Analysts note that while the market lacks short-term capital and catalysts, long-term positive factors continue to emerge, aligning with the current mainstream market view.  

**Public Companies Hold Nearly $85 Billion in Bitcoin, Doubling in One Year**  

According to a Binance Research report cited by Coindesk, as of the end of May, 116 listed companies globally hold a total of 809,100 BTC, valued at approximately $85 billion at current prices.  

This represents a significant increase from 312,200 BTC held a year ago, driven primarily by price increases and structural tailwinds for corporate Bitcoin holdings.  

**Beijing Police Pioneer Disposal Mechanism for涉案虚拟货币 (Virtual Currencies in Criminal Cases): Sold via Hong Kong Compliance Exchanges and Turned Over to State Treasury**  

According to the Capital Police Legal Affairs public account, the Legal Affairs总队 (Legal Affairs Detachment) of the Beijing Municipal Public Security Bureau and the Beijing Equity Exchange (北交所) have established a cooperative mechanism for disposing of virtual currencies involved in criminal cases, jointly signing a *Framework Agreement for Cooperative Disposal of Virtual Currencies in Criminal Cases* to incorporate such virtual currencies into the category of "physical assets to be surrendered."  

The statement notes that in response to the high incidence of virtual currency crimes in recent years and the practical challenge of "inability to directly dispose of and liquidate virtual currencies involved in cases within China" during law enforcement, the Legal Affairs Detachment and the Beijing Equity Exchange have expanded their cooperative disposal scope. Through thorough policy, legal, and operational research, they have explored a new cross-border disposal channel.  

Specifically, public security organs entrust the Beijing Equity Exchange to dispose of physical virtual currencies involved in cases. Upon acceptance, the Exchange selects professional service agencies to inspect, receive, and transfer the virtual currencies, which are then publicly sold for liquidation via licensed exchanges in Hong Kong. After undergoing foreign exchange administration approval procedures, the proceeds are converted into RMB and transferred to a special account for case-related funds, ultimately being turned over to the state treasury. This model has already been successfully applied to dispose of virtual currencies in a case handled by the Shunyi District Public Security Bureau.  

**Market Trends**  

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