Ndax Weekly TL;DR June 2

Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape. 
 
Happy Monday, Ndaxers— Here’s what happened last week:

Top Stories

  • SEC Explores Regulatory Sandbox for Tokenized Securities in Talks with Nasdaq and DeFi Innovators
  • Sui Validators Approve $162M Reimbursement Plan for Cetus Exploit Victims
  • Trump Media to Become Major Bitcoin Holder With $2.3 Billion Investment
     

The SEC’s Crypto Task Force recently met with Nasdaq, Plume Network, and Etherealize to explore how public blockchains could facilitate the issuance and trading of tokenized securities. The discussions included proposals for a regulatory sandbox that would allow limited experimentation with digital assets under flexible guidelines. Nasdaq advocated for a new digital trading venue and joint oversight with the CFTC, while Plume focused on adapting rules for decentralized markets. Etherealize emphasized the need to modernize transfer agent regulations to better align with blockchain infrastructure. All participants supported clearer regulations and pilot programs while maintaining investor protection standards. CryptoSlate

Sui network validators have overwhelmingly approved a proposal to return $162 million in frozen assets linked to the recent Cetus decentralized exchange exploit, enabling a full user compensation plan. The exploit, which occurred on May 22, resulted in over $220 million in losses, but swift action by validators managed to freeze a significant portion of the stolen funds. The governance vote, concluded on May 29, saw 90.9% in favor of the repayment plan. The funds will be transferred to a multisignature wallet managed in coordination with Cetus, which plans to restart operations and deploy a compensation contract within a week. Cointelegraph

Trump Media has completed a $2.44 billion private stock offering and plans to allocate approximately $2.32 billion of the proceeds to purchase Bitcoin, potentially making it one of the top five corporate holders of the asset. If finalized, the acquisition would place the company behind only Marathon and MicroStrategy in terms of BTC holdings. The announcement led to a 4% increase in Trump Media’s stock price, reflecting investor response to the move. While the company has not confirmed whether all proceeds will be used for Bitcoin, the decision signals a significant entry into digital assets and has drawn attention due to the close association between Donald Trump’s public profile and the crypto industry. Beincrypto

Latest News

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

  • Chainlink Price Feed Error Triggers $500K in DeFi Liquidations and Sparks Debate Over Oracle Reliability CryptoSlate
  • SEC Clears Path for Ethereum ETFs by Declaring Staking Is Not a Securities Activity CryptoSlate
  • Michael Saylor Warns Against Onchain Proof-of-Reserves, Citing Security Risks Cointelegraph
  • Ripple Donates Controversial ‘Skull of Satoshi’ to Bitcoin Community Amid Mixed Reactions CryptoSlate
  • Eight Indicators Reveal Early Impact of Trump’s Trade War on Canadian Economy Financial Post
  • OECD Forecasts Flat Growth for Canada in 2025, Urges Action on Productivity and Debt Financial Post
  • Meta Shareholders Reject Proposal to Add Bitcoin to Treasury Holdings CryptoSlate
  • Ethereum’s Pectra Upgrade Performs Smoothly, Paving the Way for Fusaka Enhancements CryptoSlate

Weekly Moves

As of 06-02-2025 at 9:15 AM EDT
Market Summary

  • Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$4.73 trillion to CA$4.46 trillion.
  • Bitcoin's market dominance stands at 63.6%, while Ethereum's share is 9.2%.

Performance

  • Over the past 24 hours, the price of BTC has fluctuated between CA$145K and CA$142K registering a 5% change over the past week and a market cap of CA$2.8 trillion. At Ndax, the weekly movers are Quant (QNT), which saw a 9% increase in the last seven days reaching a market cap of CA$2.1 billion, and Vaulta (A), which experienced a 2% rise with a market cap of CA$1.3 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 
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Upcoming Events

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  • June 6 – Canada Unemployment Rate Announcement
  • June 6 – US Unemployment Rate Announcement

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Happy trading, 
The team at Ndax


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Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.