Weekly Recap | FTX Announces Next Distribution Record Date, Indonesia Blocks Polymarket, Echobit Fut
2026.06.01
Weekly Review (May 25 – May 31)
Last week, the crypto market focused on the U.S. CFTC's potential approval of crypto perpetual futures trading, Bitcoin's deleveraging phase after briefly falling below $75,000, and Ethereum's battle around the $2,000 level. The broader market remained in a weak consolidation and deleveraging cycle, with BTC testing and temporarily breaking below the key $75,000 support level. Amid tighter global liquidity conditions, capital continued to undergo repricing and risk reduction.
This week, the crypto market remains cautious and range-bound. Bitcoin (BTC) continues to fluctuate between $73,000 and $75,000 without a clear directional breakout. Expectations of ongoing macroeconomic tightening persist, while investors closely monitor policy developments and their impact on market liquidity, maintaining relatively conservative positioning.
This report reviews the key events from the crypto industry over the past week and highlights the major developments to watch in the week ahead.
Market Pulse
Blockchain-based payment rails are increasingly becoming the default settlement layer for AI Agents, with stablecoins dominating machine-to-machine transactions.
Hyperliquid announced support for outcome markets based on off-chain events.
ICON announced plans to shut down its public blockchain by the end of 2026 and complete migration to SODAX.
Coinbase partnered with Standard Chartered to expand global multi-currency fiat payment channels.
FTX announced June 16 as the record date for its next distribution round, with payments scheduled to begin on July 31.
Strategy repurchased $1.5 billion of convertible notes due in 2029 using $1.38 billion in cash.
U.S. real estate investment firm Cardone Capital added 130 BTC to its treasury holdings.
Grayscale’s Hyperliquid ETF application entered the final registration stage before listing.
Funding & M&A
A total of five funding and acquisition events were recorded last week, raising more than $17 million, primarily across infrastructure and DeFi sectors:
Hypernova, a proprietary trading platform within the Hyperliquid ecosystem, completed a $3 million pre-seed round.
Web3 and AI platform Luffa received a strategic investment from Guofu Quantum, reaching a valuation of $220 million.
Solmate completed $11.4 million in post-IPO financing, valuing the company at $53.1 million.
Korea Investment Securities and OKX agreed to jointly acquire a 40% stake in Coinone.
Samsung Securities plans to acquire a 2% stake in Dunamu, the operator of Upbit, for approximately $204 million.
WeHub, the controlling shareholder of Busan Digital Asset Exchange’s largest shareholder, will acquire crypto exchange Flybit.
Policy & Compliance
Indonesia blocked prediction market platform Polymarket, citing illegal online gambling concerns.
Several Hong Kong banks began requiring investment account applicants to sign declarations confirming the source of funds.
Belarus added cryptocurrencies to its list of qualified underlying assets for non-deliverable OTC financial instruments.
U.S. President Donald Trump appointed former Attorney General Pam Bondi to the White House Artificial Intelligence Advisory Committee.
Hong Kong proposed a unified licensing framework for virtual asset advisory and asset management services under its anti-money laundering regime.
The White House initiated a review of the CFTC’s prediction market rulemaking process.
Echobit Highlights
Echobit’s May Futures Trading Competition continued to attract active market participation.
Echobit’s Anniversary Campaign series remained in full swing.
Echobit Anniversary Mania officially launched.
Echobit Futures Trading Carnival began.
Echobit successfully concluded its Bitcoin Pizza Day campaign series.
Echobit launched exclusive benefits for new users.
Echobit Quiz Challenge went live.
Echobit Game Challenge officially launched.
Echobit Trade & Get Reward campaign began.
Echobit launched its BTC Monthly Closing Price Prediction event.
Echobit Guess The Token campaign officially went live.
Next Week Preview (June 1 – June 7)
Unitree Robotics will attend its STAR Market IPO review meeting on June 1.
Major token unlocks are scheduled for SUI, EIGEN, ENA, and others, with approximately $13.1 million worth of SUI to be unlocked.
Microsoft Build 2026 will take place on June 2–3, featuring updates on Microsoft's proprietary AI models.
tea Protocol will conduct its Token Generation Event (TGE) on June 4.
Japan’s Financial Services Agency will officially bring foreign trust-backed stablecoins under electronic payment regulations starting June 1.
CME plans to launch cash-settled Bitcoin Volatility Futures on June 1.
Bitcoin Ordinals explorer Ord.io and meme coin trading application Zap will cease operations on June 1.
The UK FCA’s consultation period for crypto regulations will close on June 3.
The U.S. House of Representatives has requested documents from Kalshi and Polymarket regarding insider trading investigations by June 5.
The U.S. Nonfarm Payrolls report will be released on June 5, while the next round of U.S.–Iran negotiations may also take place on the same day.
The hearing regarding the release of $71 million in frozen ETH related to Aave has been postponed until June 5.
Echobit will continue tracking global crypto developments, focusing on market trends, regulatory updates, and investment opportunities to help users stay ahead in every market cycle.