Powell did not comment on monetary policy and the economic outlook in his prepared remarks

On June 4th, as per Crypto.news, the Web3 identity protocol Shards Protocol has successfully concluded a $2 million financing round. Institutions such as Animoca Brands, Kyber Ventures, and Yield Guild Games have participated in this round. The funds will mainly be utilized to develop its leading product, Aura - an ecosystem that transforms users' on-chain activities into verifiable reputations and rewards. Aura, functioning as a Web3 reputation layer, enables users to display their reputation scores and badges based on on-chain activities across multiple platforms. The system plans to launch a token later this year and enhance its functionality, enabling users to unlock rewards by minting more badges. This financing round will expedite the protocol's integration process within the Web3 ecosystem.

On June 4th, as per the monitoring of Onchain Lens, a newly established wallet address withdrew 3046 ETH from Binance one hour ago. The value of this withdrawal is 7.96 million US dollars.

On June 4th, according to market data, the Base ecosystem token GIZA saw a surge. It briefly broke through $0.38, with a 24-hour increase of 55.9%. The current market capitalization is reported to be $26.42 million, and the fully diluted value (FDV) is reported to be $240 million. It is reported that Giza is an artificial intelligence platform based on smart contracts and Web3 protocols, with the aim of addressing the complexity challenges in the DeFi market. By developing a decentralized machine learning inference protocol, Giza enables developers to generate Zero-Knowledge Proofs (ZKP), thereby ensuring the transparency and verifiability of deployed machine learning models.

On June 4th, as reported by Bitcoin.com, Belridge's tokenized currency market fund BUIDL announced that it had made a dividend payment of over $10 million in May, hitting a new monthly high. Since its launch, the fund has distributed a total of $43.4 million in dividends, and the current assets under management amount to $2.91 billion, maintaining its status as the world's largest tokenized currency fund. BUIDL, launched by Belridge in cooperation with Securitize, invests in U.S. Treasury bonds, cash, and repurchase agreements and issues tokens on 7 blockchains such as Ethereum and Solana. In the May dividend payment, the Ethereum network accounted for 93.7% (approximately $9.37 million), while the remaining chains accounted for 6.3%. The fund is only open to qualified investors. The minimum investment threshold for individuals is $5 million, and for institutions, it is $25 million. The assets are held in custody by institutions such as BNY Mellon.

On June 4th, according to Kalshi data, the probability predicted by the platform that the U.S. economy will enter a recession within the year has fallen to 28%, which is a significant decline from 70% a month ago.

On June 4th: In May, the U.S. service sector witnessed its first contraction in nearly a year. Businesses encountered rising input prices, suggesting that the U.S. economy may still be faced with a period of very slow growth and high inflation. The Institute for Supply Management (ISM) stated on Wednesday that the U.S. non-manufacturing PMI dropped to 49.9, falling below the 50 mark for the first time since June 2024 and reaching its lowest level. The new order index decreased from 52.3 in April to 46.4, probably due to the weakening boost from tariff-related lead time advantages. Service sector customers think that inventories are too high compared to demand, which is not a favorable sign for short-term economic activity. Supplier delivery performance continued to worsen, and extended factory lead times indicated supply chain stress. This stress could lead to higher inflation due to supply shortages. Businesses are also trying to pass on tariffs to consumers. The services input pric