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Alabama Man Sentenced for Hacking SEC’s Social Media to Post Fake Bitcoin ETF News

Planet Lunch News 1. Musk changed the account name to Kekius Maximus at night; 2. Galaxy Digital was officially listed on Nasdaq with the stock code GLXY; 3. WLFI USD1 stablecoin integrated Chainlink CCIP to achieve multi-chain availability; 4. Argentine judge ordered the freezing of assets of key figures in the LIBRA project, including reviewing the financial transactions of President Miley and his sister; 5. The 5x short HYPE whale had a floating loss of US$12.06 million and withdrew 3 million USDC from Binance as margin again; 6. The 25x short ETH address has a floating profit of US$2.4 million, and it has been dormant for 4 years; 7. The suspected team address has transferred 6.7 million LDO to CEX in the past 20 hours, and 17.81 million LDO has been transferred to CEX in the past 4 days; 8. Ethereum spot ETF had a total net inflow of US$22.117 million yesterday, and none of the nine ETFs had a net outflow; 9. Bitcoin spot ETF had a total net inflow of US$260 million yesterday, continuing for 3 Daily net inflow; 10. Huang Licheng added another 36,759 HYPE shares.

Caixin: The tax collection campaign against overseas income has lasted for a year Recently, many people engaged in U.S. stock trading have received reminders from local tax authorities, requiring them to self-check whether they have any overseas income and actively declare and pay taxes. Most of the clients who are required to declare have funds exceeding one million US dollars. The local tax authorities' action to collect taxes on overseas income has lasted for a year, and the items being recovered are mainly concentrated on overseas investment income, such as interest and dividends. Most of the cases are recovered from 2022 to 2024, and no cases have been seen with a collection period of more than five years. It is reported that Liang Shuang (pseudonym), an account manager serving high-net-worth clients at a financial institution in Hong Kong, confirmed to Caixin that many of his clients have received self-examination notices from the tax department, requiring them to declare income and profits in overseas bank or brokerage accounts from 2022 to 2024. Most of the clients who are required to declare have funds exceeding one million US dollars. These clients are from Beijing, Shanxi and other places. (Caixin.com)

SEC to review executive pay disclosure rules The U.S. Securities and Exchange Commission (SEC) announced that it will hold a roundtable meeting on June 26 to discuss executive compensation disclosure requirements with representatives of listed companies, investors, and experts in related fields. The statement said that the requirements for executive compensation disclosure have been expanding, focusing more on changes in the components of compensation rather than the total amount of compensation, and "it is unclear whether the increased complexity provides investors with additional information that is critical to investment and voting decisions." The U.S. SEC said that it is necessary to conduct a retrospective review of executive compensation disclosure rules to ensure that these rules continue to be cost-effective and avoid excessive non-important information while disclosing key information. (Jinshi)

Analysis: Movement Labs and Mantra incidents trigger reflection on the market-making mechanism in the crypto market The Movement Labs and Mantra incident has aroused widespread concern in the crypto market about the market-making mechanism. Some executives of Movement Labs have been accused of conspiring with its market makers to sell $38 million worth of MOVE tokens on the open market. At the same time, Mantra's OM token plummeted by more than 90% in a few hours at the end of April without any obvious negative news, raising market questions about the token unlocking arrangements and the transparency of over-the-counter transactions. Analysts believe that these incidents expose the distorted effects of hidden contracts, non-public agreements and over-the-counter transactions in the crypto market on token supply and price discovery mechanisms. Several market makers are re-evaluating the token risk underwriting process and requiring project parties to provide greater transparency. Industry insiders pointed out that informal transactions in the over-the-counter market are disrupting the dynamics of token supply and increasing the difficulty for market makers to maintain liquidity. (CoinDesk)