Binance Alpha Launches Taiko with Airdrop

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Published time: 6/1/2025, 8:00:11 AM (Asia/Tokyo)

📢 Important News

• Binance Alpha has launched Taiko (TAIKO) with an airdrop for users holding 205 Alpha points. Starting May 31, 2025, users can claim 130 TAIKO tokens, requiring 15 Alpha points per claim.
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• The US government urges the Supreme Court not to hear Coinbase user James Harper's challenge against the IRS for cryptocurrency records. The IRS claims proper legal procedures were followed in obtaining these records.
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• In response to increased violence against crypto holders, insurance firms are developing kidnap and ransom insurance for digital asset investors, amid a 300% rise in bodyguard hiring and high-profile incidents.
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• On May 30, Ethereum spot ETFs saw a net inflow of $70.24 million, led by Blackrock's ETHA ETF. The total net asset value of Ethereum spot ETFs stands at $9.445 billion.
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• The Pakistani government plans to reserve 2,000 megawatts of electricity for Bitcoin mining and AI data centers, attracting miners amid IMF concerns about legality and resource allocation affecting loan negotiations.
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📊 Market

• Bitcoin's price recently peaked at over $111,000 but has since retraced to $105,485, reflecting cautious sentiment. Liquidation trends show a divergence between Bitcoin and altcoins, with significant short liquidations for BTC and substantial long liquidations for altcoins, indicating a shift in investor risk sentiment post-ETF approval.
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• On May 30, Binance Alpha recorded a trading volume of $1.77 billion, with ZKJ leading at $1.32 billion, followed by KOGE at $140 million and MERL at $120 million.
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• The Altcoin Season Index is currently at 16, down from a peak of 43 on May 10, indicating only about 16 out of the top 100 cryptocurrencies have outperformed Bitcoin in the past 90 days.
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• WCT saw a drastic price drop on May 31, falling over 40% from $1.37 to $0.80. The trading volume reached $3.4 billion, with liquidations totaling $4.8 million, significantly higher than those of Bitcoin and Ethereum.
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• A trader made $1.238 million in profit by leveraging a portfolio of 36 altcoins, focusing on small positions with a significant long on SOPH valued at approximately $720,000.
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⚖️ Policy & Regulation

• The Texas Senate approved Senate Bill 21 for a Bitcoin reserve fund, now awaiting Governor Abbott's signature. It establishes the Texas Strategic Bitcoin Reserve, requiring cryptocurrencies to have a $500 billion market cap for 24 months. Texas joins New Hampshire and Arizona in this trend.
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• Cetus Protocol recovered stolen funds after a governance proposal, transferring assets to a multi-signature wallet with partners. A public meeting on June 2, 2025, will provide updates on the recovery process and protocol upgrades.
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