Crypto Morning Brief: BitMine Selected for Preliminary Russell 3000 Index Addition; Major Token Unlocks This Week for H, SUI, HUMA, and Others
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Crypto Morning Brief: BitMine Selected for Preliminary Russell 3000 Index Addition; Major Token Unlocks This Week for H, SUI, HUMA, and Others
U.S. SEC approves Nasdaq-listed Bitcoin index options.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Updates
U.S.-Iran Reportedly Reach Memorandum of Understanding: End War, Open Strait, Release $25 Billion in Assets
According to The New York Times, Iran has agreed to a memorandum of understanding (MoU) that includes halting hostilities on all fronts—including Lebanon—reopening the Strait of Hormuz, lifting U.S. maritime blockades, permitting free commercial passage, and releasing $25 billion in frozen Iranian assets. Nuclear issues will be negotiated separately within 30 to 60 days.
U.S. FDIC Proposes BSA and Sanctions Compliance Requirements for Stablecoin Issuers
Per the ABA Banking Journal, the U.S. Federal Deposit Insurance Corporation (FDIC) proposed new rules on May 22 to establish Bank Secrecy Act (BSA) and sanctions compliance standards for stablecoin issuers under its supervision. Under the proposal, such issuers must comply with applicable anti-money laundering (AML) / countering the financing of terrorism (CFT), economic sanctions, and reporting requirements—including those issued by FinCEN and OFAC. The rule would also introduce supervisory and enforcement provisions for AML/CFT programs aligned with FinCEN’s requirements. The public comment period runs for 60 days following publication in the Federal Register.
Multiple CFTC Officials Who Questioned Market Regulation Face Suspension and Forced Resignation
According to Cointelegraph, a Sunday investigative report by The New York Times revealed that several senior Commodity Futures Trading Commission (CFTC) officials—who had raised regulatory concerns regarding Polymarket, Crypto.com, and Gemini-affiliated entities—were subsequently suspended, subjected to internal investigations, and forced to resign. All three firms are alleged to have commercial ties to the Trump family.
The report states that then-CFTC Acting Chair Caroline Pham and her senior advisor intervened to assist these firms in obtaining required approvals. By late 2025, five officials who either raised concerns or enforced crypto-related regulatory rules were placed on administrative leave and subjected to internal investigations—without being informed of the specific reasons. After leaving the CFTC, Pham joined MoonPay, a crypto firm partnered with Polymarket; her senior advisor, Brigitte Weyls, became General Counsel of Gemini Titan—the application for which she had participated in approving.
On the enforcement front, the CFTC has withdrawn at least five crypto-related investigations, reducing enforcement actions from over 80 during the Biden administration to just two under President Trump. In response, a White House spokesperson denied any conflict of interest, stating, “President Trump acts solely in the best interests of the American public.”
U.S. SEC Approves Nasdaq-Listed Bitcoin Index Options
According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq-listed index options tied to Bitcoin’s price—marking further integration between Wall Street and digital asset markets. This product offers U.S. equity traders an additional way to gain exposure to Bitcoin’s price movements beyond iShares Bitcoin Trust ETF and similar fund options.
South Korea to Launch Single-Stock Leveraged ETFs—Retail Enthusiasm Could Amplify Index Volatility
South Korea will launch its first batch of single-stock leveraged ETFs next week. These products track chipmakers Samsung Electronics and SK Hynix, targeting daily returns equal to ±2x the underlying stock’s performance. Analysts expect strong demand from South Korea’s more than 14 million retail investors.
However, amid increasing intraday volatility in the KOSPI Index—where swings of up to 5% are now common—such enthusiasm may further exacerbate market fluctuations. “These ETFs will intensify existing concentration risks, posing structural challenges for long-term investors, as index volatility remains persistently high and makes the Korean market harder to navigate,” said CEO of Singapore-based Fibonacci Asset Management.
Daewoo Future Asset analyst Yoon Jaehong estimates net inflows into the 14 leveraged ETFs—targeting Samsung Electronics or SK Hynix and slated for listing by end-May—could reach up to ₩5.3 trillion. He notes that in the first two months of this year alone, 300,000 investors completed mandatory online training for leveraged product investments—exceeding the full-year 2025 total.
Ethereum Foundation Under Fire; Researchers Defend Its Mission as Protocol Development—not ETH Pumping
Per Cointelegraph, the Ethereum Foundation has recently drawn criticism from the community over ETH sales, unstaking activities, and limited public communication. However, blockchain researcher and investor William Mougayar defended the Foundation, arguing that it has long been misunderstood: ETH is an asset, Ethereum is shared computational infrastructure, and the Ethereum Foundation is a nonprofit organization tasked with advancing protocol development—whose stated goal even includes “making founders increasingly irrelevant.” The Foundation is currently pursuing a “subtractive path”: strengthening the network through protocol upgrades, funding foundational research, and deliberately reducing its centralized influence.
Uniswap Governance Proposal Seeks to Extend Protocol Fee Collection & Burning Infrastructure to BNB Chain and Polygon; Fix Cross-Chain Governance Path for Celo
A Uniswap governance proposal seeks to extend fee collection and burning infrastructure to BNB Chain and Polygon—and complete the fee activation process on Celo, where configuration errors previously prevented execution.
The proposal includes: setting the V2 protocol fee recipient address on BNB Chain, Polygon, and Celo to TokenJar; assigning ownership of the V3 Factory on those chains to V3OpenFeeAdapter; and, specifically for Celo, transferring the feeToSetter role and V4 PoolManager ownership to CrossChainAccount. It states that fees collected across each chain will be aggregated into their respective TokenJars, then bridged cross-chain back to Ethereum mainnet and sent to the burn address.
Tiger Brokers Clarifies: Claims of “Refusing to Cooperate with Regulators” or “Defying Regulation” Are Completely False
According to Caixin, Tiger Brokers issued a statement clarifying that recent claims describing the firm as “refusing to cooperate with regulators” or “defying regulation” are entirely false. The company emphasized that regulatory compliance is central to its operations and affirmed its commitment to strictly follow guidance from China’s Securities Regulatory Commission (CSRC) and other relevant regulators. Since 2023, Tiger Brokers has fully ceased account opening and marketing activities for mainland Chinese users. As of the end of Q1 2026, mainland Chinese client assets accounted for approximately 10% of its total. Meanwhile, overseas client numbers and asset volumes continue to grow steadily, and the firm will continue advancing its compliance initiatives to safeguard client assets.
Longbridge Securities: Proactively Responding to Regulatory Guidance from Both Jurisdictions, Advancing Compliance Work Steadily
Longbridge Securities provided further clarification on recent regulatory developments concerning cross-border securities business in China. It noted that the Hong Kong Securities and Futures Commission (SFC) and China’s CSRC have recently issued updated regulatory requirements for cross-border securities services—introducing industry-wide uniform standards for services offered to mainland Chinese investors. These regulatory rules apply to all foreign financial institutions. Longbridge Securities stated it is proactively responding to guidance from both jurisdictions and will steadily advance its compliance work in strict adherence to all requirements.
Longbridge Securities clarified that the scope of accounts targeted for cleanup under this regulatory initiative is narrow and clearly defined—covering only two categories: (1) investment accounts opened using suspicious or forged documents, and (2) dormant investment accounts with zero balances. Accounts opened in full compliance—with genuine assets and active positions—are outside the scope of this cleanup effort. Longbridge firmly supports regulators’ zero-tolerance stance toward fraudulent account openings and will strictly adhere to regulatory requirements in handling such cases.
BitMine Added to Preliminary 2026 Russell 3000 Index Reconstitution List
Per FTSE Russell’s official preliminary 2026 Russell 3000 Index reconstitution list, BitMine has been added to the list of new constituents. The list will undergo several updates before final adjustments take effect at the end of June.
Major Token Unlocks This Week for H, SUI, HUMA, and Others
Token Unlocks data shows major token unlocks this week for H, SUI, HUMA, and others—totaling approximately $75 million.
- H unlocks on May 25, valued at ~$22.82 million (3.85% of circulating supply);
- SUI unlocks on May 31, valued at ~$15 million (0.36% of circulating supply);
- HUMA unlocks on May 26, valued at ~$11.69 million (20.04% of circulating supply);
- XPL unlocks on May 25, valued at ~$7.26 million (3.69% of circulating supply);
- KMNO unlocks on May 30, valued at ~$4.59 million (3.16% of circulating supply);
- SAHARA unlocks on May 26, valued at ~$4.55 million (4.06% of circulating supply);
- GUN unlocks on May 31, valued at ~$4.14 million (14.53% of circulating supply);
- OP unlocks on May 31, valued at ~$3.97 million (1.50% of circulating supply);
- ZETA unlocks on May 31, valued at ~$2.23 million (3.14% of circulating supply);
- ALT unlocks on May 25, valued at ~$1.84 million (3.90% of circulating supply);
- ZORA unlocks on May 30, valued at ~$1.83 million (3.45% of circulating supply);
- UDS unlocks on May 26, valued at ~$1.79 million (0.63% of circulating supply);
- SIGN unlocks on May 28, valued at ~$1.43 million (4.77% of circulating supply);
- SOPH unlocks on May 28, valued at ~$1.32 million (5.26% of circulating supply);
- VENOM unlocks on May 25, valued at ~$1.18 million (2.40% of circulating supply);
- GPS unlocks on June 1, valued at ~$1.12 million (3.88% of circulating supply).
Market Data
Recommended Reading
Trader Taiki’s Account: Bitcoin Has Bottomed Near $60K—How to Identify the Next 10x Altcoin?
https://www.techflowpost.com/zh-CN/article/31702
This article discusses the current state and future trends of the cryptocurrency market. Author Taiki Maeda introduces the concept of the “Green Candle Therapy,” asserting that Bitcoin has formed a base near $60,000 and market sentiment is recovering. He also shares his investment portfolio—the “Sacred Trinity” (Bitcoin, Zcash, Hyperliquid)—and outlines his framework and rationale for identifying the next 10x–100x altcoins.
Market Watch: From HYPE to ZEC—Four Narrative Threads Behind Recent Altcoin Momentum
https://www.techflowpost.com/zh-CN/article/31713
This article analyzes four dominant narratives driving recent activity in the crypto market: decentralized perpetual contract exchanges (Perp DEX), AI-focused Layer 1 blockchains, privacy coins, and meme coins. It provides a detailed examination of the market performance, underlying logic, and potential future trajectories of seven representative tokens: HYPE, LIT, NEAR, GRASS, WLD, ZEC, and USELESS.
In-Depth Analyst Dialogue: What Does Powell’s Departure—and Warsh’s Appointment—Mean for Crypto?
https://www.techflowpost.com/zh-CN/article/31718
This article thoroughly explores the implications of the Federal Reserve chair transition for financial markets and cryptocurrencies. It examines inflation dynamics in the current macroeconomic environment, divergences between equity and bond markets, and crypto’s evolving role in broader macro contexts. It also discusses the “Bliss Trade” phenomenon, the potential impact of tokenization innovation exemptions, and the likely policy orientation of incoming Fed Chair Kevin Warsh.
Comprehensive Guide to On-Chain Pre-IPO: Why SpaceX, OpenAI, and Others Are Moving Pricing Power Onto Blockchain
https://www.techflowpost.com/zh-CN/article/31720
This article traces the growing trend of pre-IPO markets migrating onto blockchain—particularly the rise of on-chain pre-IPO perpetual contracts—and reviews market developments for companies like SpaceX, OpenAI, and Anthropic ahead of their IPOs. It analyzes how on-chain solutions address longstanding inefficiencies in traditional finance, maps key players and business models in the private secondary market, and explores pre-IPO investment methods, associated risks, and potential expansion paths for on-chain pre-IPO markets.
21Shares Research Report: HYPE’s Price-to-Sales Ratio Is Half That of CME—Bullish Target Price: $70
https://www.techflowpost.com/zh-CN/article/31712
This article provides a detailed analysis of Hyperliquid’s business model, evolution, market performance, and future outlook. It explains how Hyperliquid evolved from a decentralized crypto derivatives exchange (DEX) into a 24/7, full-asset-class exchange. Through comparison with traditional exchange CME, the article highlights Hyperliquid’s distinctive advantages and growth potential—while also addressing its core risks and challenges.
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