On June 3, Cryptoquant analyst Axel Adler Jr disclosed on platform X that Beth Hammack, President of the Cleveland Federal Reserve (considered one of the more hawkish officials within the Fed), stated that she currently believes maintaining interest rates at their current level is an appropriate policy choice. Hammack pointed out that the persistent inflation above the Fed's 2% target is more concerning than the risks posed by the still robust labor market. She further indicated that if the current inflation trend continues, the Fed may soon need to shift towards a more contractionary monetary policy to prevent inflation from stabilizing above the target level for an extended period.
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Cleveland Fed President: Keeping Interest Rates Unchanged is a Reasonable Choice
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Bank of Japan Governor Kazuo Ueda: Continued Rate Hikes Needed to Curb Inflation
On June 3, Bank of Japan Governor Kazuo Ueda stated in his final routine speech before an upcoming highly anticipated policy meeting that the central bank needs to continuously raise interest rates based on economic conditions and inflation. Ueda mentioned, 'For example, if the central bank judges that the likelihood of achieving the baseline scenario increases, meaning that tensions in the Middle East gradually ease and that the underlying inflation rate rises to around 2% against a backdrop of moderate economic growth, then I believe the central bank will continue to raise policy rates at an appropriate pace.' His remarks indicate a significant likelihood of a rate hike this month, although his statements are not as explicit as during the previous two rate increases. This suggests that Ueda aims to maintain a degree of flexibility amid the increasingly complex and uncertain situation in the Middle East, as well as the stance on monetary policy expressed by Japanese Prime Minister Fumio Kishida. -
Iran's Foreign Ministry: Kuwait and Bahrain Bear Direct Responsibility for Attacks, Considered Aggression Against Iran
On June 3, Iran's Foreign Ministry stated: We strongly condemn the aggressive attacks by the United States on an Iranian oil tanker and a telecommunications tower on Qeshm Island. These aggressive actions not only violate the ceasefire agreement of April 8 but also blatantly contravene the fundamental principles of the United Nations Charter that prohibit the use of force, as well as international law. We also condemn the U.S. for colonial-style exploitation of the territories and facilities of regional countries to advance its aggressive plans against Iran. We clearly point out that Kuwait and Bahrain bear direct and explicit responsibility for the latest acts of aggression. Any country that allows aggressors to use its land, seas, and airspace or facilities and bases on its territory to execute or support military aggression against Iran is in clear violation of fundamental international law rules and the principle of good neighborliness. According to UN General Assembly Resolution 3314, this will be considered an act of aggression against Iran, and we will utilize all capabilities to counter such aggression, including targeting the sources of aggressive attacks. -
Final Ruling in Qingdao Bitcoin Theft Case: Court Clarifies Property Nature of Virtual Currency
According to Shandong Legal News, the Li Cang District Prosecutor's Office in Qingdao successfully handled a Bitcoin theft case. The defendant, Zhang, took advantage of the victim, Feng, who had entrusted him with operating a wallet, to steal the victim's mnemonic phrase. In the early morning, he stole 107 Bitcoins, which were worth approximately 22.54 million yuan at the market price on the day of the incident. He then transferred the stolen funds through multiple platforms, ultimately exchanging them for over 660,000 yuan. After being apprehended, Zhang attempted to argue that he was acting under 'protective custody,' but the prosecution dismantled his claims by tracing the financial transactions. The court sentenced Zhang to 10 years and 9 months in prison for theft and imposed a fine of 100,000 yuan, with the original ruling upheld after an appeal. This case clarifies that virtual currency has property attributes protected by criminal law, providing judicial guidance for combating similar new types of cybercrime. -
Japanese Prime Minister: Appropriate Measures on Foreign Exchange Market as Needed
On June 3, Japanese Prime Minister Sanae Takaichi stated that strengthening international cooperation on foreign exchange issues, especially with the United States, is crucial. Appropriate measures will be taken on the foreign exchange market as needed. -
Gold Surpasses U.S. Treasuries as the Largest Official Reserve Asset Globally
The European Central Bank has released a new report stating that gold's share of the total global official reserve assets has risen to 27%, surpassing U.S. Treasuries to become the largest official reserve asset worldwide. The report indicates that the share of U.S. Treasuries in global official reserve assets has decreased to 22%, while other dollar-denominated reserve assets account for 20% and euro-denominated reserve assets make up 15%. The significant increase in gold's share is primarily attributed to valuation effects. Thanks to a surge in international gold prices in 2024 and 2025, the value of gold assets has risen, allowing it to capture a larger share of global official reserves. -
Ministry of Foreign Affairs: Resumption of Hostilities Does Not Serve Any Party's Interests
On June 3, during a regular press conference, the Ministry of Foreign Affairs addressed questions regarding the current situation between the U.S. and Iran. Spokesperson Mao Ning expressed China's deep concern over the current situation, stating that the resumption of hostilities does not serve the interests of any party. She urged all relevant parties to cherish the opportunity for peace and to achieve a comprehensive and lasting ceasefire as soon as possible. (CCTV News) -
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BTC Falls Below $66,000
Market data shows that BTC has fallen below $66,000, currently priced at $65,959.38, with a 24-hour decline of 7.05%. The market is experiencing significant volatility, so please ensure proper risk management. -
US Spot Ethereum ETF Sees $90.14 Million Net Outflow
On June 3, according to monitoring by Trader T, the US spot Ethereum ETF experienced a net outflow of $90.14 million yesterday. -
US Spot Bitcoin ETF Sees $519.23 Million Net Outflow Yesterday
On June 3, according to monitoring by Trader T, the US spot Bitcoin ETF experienced a net outflow of $519.23 million yesterday.
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