Hyperliquid Trader Loses $110M

️ On today's Top Picks:

Crypto News

• ⭐️ Hyperliquid $HYPE trader James Wynn liquidated for over ~$110M following Bitcoin $BTC dip; Wynn continues to trade positions worth millions of dollars.

• Solana $SOL introduces Solana App Kit by SEND ecosystem, "an open-source React Native kit to build iOS and Android mobile apps on Solana in ~15 minutes."

• PumpFun deposits 156,425 Solana $SOL worth ~$25M into Kraken; deposited a total of 2,344,517 SOL worth ~$376M into Kraken in 2025.

• OpenSea officially launches OpenSea 2 ending beta; launches new Voyages reward system; to launch $SEA after certain releases & innovations are in place.

• US SEC says staking activities on proof-of-stake networks do not involve securities transactions; could clear the way for crypto ETFs to include staking.

• FTX begins distribution of more than ~$5B of claims; customers to receive funds within 1-3 business days.

• ⭐️ US SEC drops charges against Binance; the SEC, Binance, and former Binance CEO Changpeng Zhao filed a joint stipulation seeking dismissal.

• Bybit secures MiCAR license from Austria FMA; can now offer crypto services to all European Economic Area (EEA) member states.

Alpha

• Camp teams up with Rob Feldman, MERV, and StoryChain to launch new campaign; create a new IP in MERV by prompting how to remix Cyko KO.

• ⭐️ Namada launches governance proposal to enable mainnet phase 4; to enable $NAM transferability in phase 5.

• Kamino launches $KMNO Season 3 rewards claim; launches Season 4, replacing points with monthly KMNO rewards.

• Reya unveils $REYA tokenomics; at least 45% allocated for the community; to release more details of REYA soon.

• Nudge launches the Reallocation Network; reallocate your assets to earn rewards and Nudge points.

• List Of Upcoming TGEs, Listings, & Releases by ICO Analytics.

Airdrops

• WalletConnect to launch $WCT airdrop on Solana; Phantom users to be eligible; eligibility details coming soon.

• Reddio launches $RDO airdrop claim; eligibility based on snapshot announced on March 3rd.

• Lagrange to end $LA airdrop registration on June 2nd; check eligibility with Ethereum wallet and/or X account.

• ICYMI Weekly Airdrop Recap by Earndrop.

• ICYMI Sophon launches $SOPH airdrop claim; early adopters, ZKsync power users, and more are eligible.

• ICYMI Resolv launches $RESOLV airdrop claim; users who missed the airdrop registration window can still complete registration via Resolv Discord until June 9th.

Finance News

• ⭐️ US April PCE Inflation falls to 2.1%, below expectations of 2.2%; Core PCE Inflation falls to 2.5%, in-line with expectation of 2.5%.

• US Federal Reserve Chair Powell met with President Trump at the White House; discussed growth, inflation, and employment.

• US Appeals Court reinstates President Trump’s tariffs; the Trump Administration had appealed a US Federal Court ruling that ruled Trump did not have the authority to impose sweeping global tariffs.

• US President Trump says China "violated" its tariff agreement with the US; US Treasury Secretary Bessent says trade talks with China have "stalled."

• Trump Media and Technology Group $DJT raises $2.32B in private offering; to use proceeds to buy Bitcoin $BTC.

• SOL Strategies $HODL buys 26,478 Solana $SOL for ~$4.7M at ~$177.50 per SOL; now holds 420,355 SOL worth ~$68M.

• K33 $K33 launches Bitcoin $BTC treasury strategy; raises $6.2M to buy BTC.

• Nvidia $NVDA briefly surpasses Microsoft $MSFT to become the world's most valuable company by market cap; Microsoft has since retaken its spot.

Security and Exploits

• Sui $SUI community passes governance vote to recover ~$162M of stolen Cetus funds; Cetus to make a 100% recovery for all affected users.

• ⭐️ BitMEX successfully stops attack by Lazarus Group; investigation exposes tactics and reveals operation security failures.

Token Unlocks

• Kamino $KMNO / ~$12M / MAY 30th
• Optimism $OP / ~$19M / MAY 31st
• Sui $SUI / ~$138M / JUN 01st
Sourced from Tokenomist

Funding

• Donut raises $7M in Pre-Seed funding led by HongShan, BITKRAFT, & Hack VC.

• CookingCity raises $7M in funding from several investors.

• Rumi raises $4.7M in Pre-Seed funding led by a16z Crypto CSX & Escape Velocity.

• Naoris Protocol raises $3M in Strategic funding led by Mason Labs.

• Decari raises $2.3M in Seed funding led by Prelude & Lemniscap.

• WinksFun raises an undisclosed amount in funding from IOSG Ventures.

The Degen Farmer