Daily News: U.S. May ADP Employment Increases by 37,000, South Korean President Lee Jae-myung Pledges Crypto ETF, CUDIS Airdrop, Binance Liquidity Boost Program, and More

U.S. May ADP Employment Increases by 37,000, Missing Expectations

U.S. ADP employment increased by 37,000 in May, significantly below the expected 110,000 and down from the previous figure of 62,000.

Trump Urges Powell to Cut Rates, Citing Lag Behind ECB

U.S. President Donald Trump took to social media to comment on the latest ADP employment data release, calling on Federal Reserve Chair Jerome Powell—whom he dubbed "Mr. Too Late"—to initiate a rate cut. Trump emphasized that the European Central Bank has already lowered interest rates nine times, suggesting the Fed is falling behind.

Michelle Bowman Confirmed as Fed Vice Chair for Supervision

The U.S. Senate has confirmed Federal Reserve Governor Michelle Bowman as Vice Chair for Supervision with a 48–46 vote. Bowman will serve a four-year term, succeeding Michael Barr as the Fed’s top regulatory official. A former community banker, Bowman has long voiced concerns over excessive small-lender regulation. Reports suggest she intends to reduce regulatory burdens by streamlining leverage requirements and stress testing. Industry observers note that Bowman supports cryptocurrencies and has previously welcomed dialogue on innovation in the financial system.

South Korean President Lee Jae-myung Pledges Crypto ETF, KRW Stablecoin Push

Left-wing candidate Lee Jae-myung has won South Korea’s presidential election with 49.42% of the vote, defeating conservative rival Kim Moon-soo’s 41.15%. Lee has pledged to accelerate the growth of South Korea's cryptocurrency sector. Key policies include allowing local issuance of spot crypto ETFs, building a KRW-pegged stablecoin market, enhancing digital asset regulation, and easing blockchain-related restrictions in specific zones to foster innovation.

South Korea is one of the world’s largest crypto markets, with around 9.7 million users—roughly 20% of the population. Unlike former President Yoon Suk-yeol, who failed to fulfill his crypto-friendly promises, Lee is seen as likely to advance these policies amid shifting views within the Financial Services Commission.

CUDIS Airdrop Claims Open June 5, TGE to Release 24.75% of Total Supply

CUDIS has announced its tokenomics, stating the total supply of CUDIS tokens will be 1 billion, with 24.75% of that amount to be in circulation at the Token Generation Event (TGE). 25% of the total supply is allocated to the community to incentivize multi-season user participation. The first season will distribute 5% of the total tokens.

The first-season airdrop claim will open at UTC 12:00 PM on June 5, with a total of 50 million CUDIS to be distributed to over 60,000 active community users.

Binance Launches Liquidity Boost Program for Small-Cap Spot Pairs

Binance has announced the launch of a “Small-Cap Spot Liquidity Boost Program” aimed at enhancing liquidity and trading efficiency for selected small-cap spot trading pairs. The initiative promises reduced spreads and slippage, improving the overall trading experience.

The qualification period begins at UTC 12:00 AM on June 9, 2025. Key details include:

• Market makers will be assessed weekly based on performance criteria.

• Users achieving a maker volume ratio of 0.5% on eligible pairs will receive Tier 1 rebate rates.

• A 1.0% maker volume ratio qualifies for Tier 2 rebate rates.

• Tier 1 maker rebate fee: -0.005%; Tier 2: -0.010%.

• Rebate rates will be updated weekly starting from 08:00 (UTC+8) on June 17, 2025.

• Users qualifying for both the Market Maker Program and the Liquidity Boost Program will receive the more favorable of the two rebate rates.

To participate, users must have traded over $20 million in equivalent volume on Binance Spot & Margin in the past 30 days, or provide verifiable trading volume on other platforms (as recognized by Binance), and demonstrate high-quality liquidity strategies.

Ethereum Foundation Unveils New Fiscal Policy, Plans to Reduce Spending and Deepen DeFi Involvement

The Ethereum Foundation (EF) introduced a new fiscal policy aimed at gradually reducing its annual operational expenditures from 15% of total assets to a long-term baseline of 5% over five years. EF emphasized that 2025–26 represents a critical development phase for Ethereum and pledged to increase ecosystem support during this period.

The policy outlines EF’s asset management framework, including ETH sales strategy, staking deployment, and fiat asset allocation. For the first time, EF introduced the “Defipunk” assessment framework, prioritizing DeFi projects that uphold permissionless access, self-custody, open-source development, and privacy.

EF aims to cultivate an Ethereum-native financial ecosystem that safeguards user sovereignty through strategic capital deployment. It also encourages protocols to enhance decentralization and privacy. EF will adopt the same principles in managing its treasury, including solo staking and providing liquidity to established lending protocols.

The policy was co-developed by several Ethereum core members, including Vitalik Buterin and Tim Beiko, to balance financial sustainability with long-term ecosystem goals.

Circle IPO Prices at $31 Per Share, Raising $1.1 Billion at $6.2B Valuation

Stablecoin issuer Circle has priced its IPO at $31 per share on the New York Stock Exchange, surpassing the initial pricing range of $24–$26 and raising $1.1 billion. The IPO values Circle at $6.2 billion. Trading under the ticker “CRCL,” shares will debut on Thursday.

Originally planning to issue 24 million shares, Circle increased the offering to over 34 million shares due to heightened demand. The issuer of USDC, the second-largest U.S. stablecoin, Circle’s listing coincides with growing legislative momentum around stablecoin regulation in the United States.

Crypto Exchange Rails Raises $14M from Kraken, CMCC Global, and Others

Crypto exchange startup Rails has secured $14 million in funding. Investors include Kraken, CMCC Global, Slow Ventures, Round13 Capital, and Quantstamp.

Rails uses a hybrid model combining centralized execution with on-chain custody. The platform’s matching engine operates off-chain for high-performance trading, while cryptographic techniques like zero-knowledge proofs and Merkle trees settle trades on-chain, ensuring transparency and verifiability.

Spanish Coffee Chain Vanadi Plans $1.1B BTC Purchase, Aims for ‘Bitcoin-First’ Strategy

Spanish coffee chain Vanadi Coffee has announced plans to invest over $1.1 billion in Bitcoin as part of a strategy to become a “Bitcoin-first” company.

Vanadi Chairman Salvador Martí stated that he will seek board authorization to implement the Bitcoin accumulation strategy, supported by capital raised through stock and convertible bond offerings. The company reportedly acquired 5 BTC two weeks ago at a cost of approximately $500,000.

The Blockchain Group Seeks Shareholder Approval for €10B Bitcoin Reserve Strategy

The Blockchain Group will hold its annual general meeting on June 10, 2025, seeking shareholder approval to raise €10 billion to accelerate its Bitcoin reserve strategy.