The Blockchain Bulletin June 3: Metaplanet Boosts BTC Holdings to 8,888 BTC
Hey folks! Welcome to our latest edition of the Blockchain Bulletin, where we dig out and unravel the latest insights that hit the market in the past 24 hours.
In recent developments, Metaplanet has made a stride in its Bitcoin accumulation strategy, acquiring an additional 1,088 BTC worth ¥16.89 billion on Monday. This purchase has elevated the company’s total Bitcoin holdings to 8,888 BTC, valued at ¥122.27 billion.
At the same time, Elon Musk is continuing his work on transforming X (formerly Twitter) as he envisioned. Musk has launched a new feature, XChat, which adds encryption, vanishing or self-destructing messages, plus support for any file transfers, along with audio and video calls.
On the regulatory front, the Monetary Authority of Singapore (MAS) has taken a firm stance by mandating that all digital token service providers (DTSPs) operating from Singapore without a valid license must cease servicing clients outside the country by June 30, 2025. This directive comes with no grace period or transition phase, as stipulated under Section 137 of the Financial Services and Markets Act (FSMA). The ruling applies broadly to entities incorporated in Singapore or operating from local offices, even if their clientele is exclusively overseas.
Moving on, Circle Internet Group Inc., known for issuing the USDC stablecoin, has increased its first public offering (IPO) size to 32 million shares, priced between $27 and $28 per share. This revision from the original plan of 24 million shares priced at $24 to $26 reflects high investor demand. The updated terms point toward a raise of approximately $880 million and place Circle’s valuation near $5.43 billion. The IPO process is being managed by very big financial institutions, including J.P. Morgan, Citigroup, and Goldman Sachs.
Data from Glassnode reveals a noteworthy trend in Ethereum’s on-exchange supply. Exchange balances of ETH have fallen to a seven-year low, dropping from over 34 million ETH in late 2020 to roughly 16 million ETH by mid-2025. This reduction corresponds with recent price stability around $2,700 and suggests a tightening supply environment. Market observers are closely monitoring these outflows, which could influence future price movements by restricting liquidity and creating supply constraints
Related: Arweave Price Prediction 2025-35: Will It Hit $300 by 2035?
On the other end, technological upgrades are happening. In order to address issues about transparency on decentralized exchanges, Binance co-founder Changpeng Zhao has recommended starting a “dark pool” exchange for perpetual contracts. He mentioned that seeing live data about open orders from traders on DEX platforms largely puts traders at risk of frontrunning and MEV attacks.
Furthermore, security concerns have also emerged following Ethereum’s recent network upgrade, Pectra, launched on May 7. While the upgrade introduced improvements to wallet usability, it has been exploited by cybercriminals employing automated “sweeper” contracts that abuse EIP-7702. Wintermute’s investigation identified a malicious contract dubbed “CrimeEnjoyor,” which replicates simple bytecode to drain funds from compromised wallets the moment they receive ETH.
These events make it obvious how rapid growth, continuous technology advancements, rules and regulations, and security concerns continue to influence blockchain and cryptocurrency in 2025
