EURJPY

Ah, the morning air was thick with the scent of regulatory triumph as the Commodity Futures Trading Commission (CFTC), in a gesture as grand as a peacock’s strut, permitted the listing of a true bitcoin perpetual contract. A true perpetual, mind you, not some imposter draped in the tattered cloak of financial innovation. This, dear reader, is the stuff of legend-or at the very least, a footnote in the annals of bureaucratic bravado.

The overall index, a fancy label for “a bunch of crypto coins who think they’re still relevant,” sits at 1975.1 and has slipped 0.8% (-14.99 points) since 4 p.m. ET yesterday. It’s technically a decline, but math is just a polite way of saying “not as platonic as we thought.”

DOGE, BinanceLife, and BUILDon are all at different points in their current trading cycles. DOGE is likely nearing the end of a downward trend, BinanceLife is starting to build up again near its recent peak, and BUILDon is slightly falling back after a quick price jump to $0.77. It’s worth keeping an eye on all three of these tokens throughout June.

• Key Takeaways (or, as I like to call them, the CliffsNotes for the financially curious):

• Vaneck’s VBNB fund debuted on the Nasdaq on May 28 with a whopping $1.02 million in initial net assets. Because nothing says “we’ve arrived” like a seven-figure launch.
• Anchorage Digital Bank is babysitting the BNB tokens, ensuring they don’t wander off into the wild west of crypto. Wall Street’s ETF lineup just got a little more… crypto-y.
• Vaneck might soon flip the switch on staking yields, because who doesn’t love a little extra pocket money?

A significant amount of cryptocurrency options contracts recently expired: $6.2 billion worth of Bitcoin options and $1.28 billion worth of Ethereum options, according to Greeks.live. Specifically, 84,000 Bitcoin options and 639,000 Ethereum options reached their expiration dates.

With many traders already invested and a cautious market, prices may move erratically. The key question now isn’t just where the lowest price might be, but how the market will react given how many people are already holding positions.

Korea Investment & Securities (KIS), a leading brokerage firm in South Korea, plans to invest 80 billion Korean won and acquire a 19.6% ownership stake in the company. This deal is still awaiting approval from regulators.