OVERVIEW

15 Yrs Ago: $40 BTC Pizza Now Worth $1.12B 🍕 

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

BITCOIN
Bitcoin Pizza Day: The $1.12 Billion Lunch 🍕

Bitcoin made another new all-time high today – just shy of $112,000. Fitting that it happened on Pizza Day. 🍕 

What Is Pizza Day? 🤔 

On May 22, 2010, a Florida man named Laszlo Hanyecz made history by trading 10,000 Bitcoin for two Papa John’s pizzas.

It was the first recorded commercial transaction using $BTC.X ( ▼ 2.18% ), marking the beginning of a financial revolution.

The Tale of Two Pizzas And 10,000 Bitcoin 🪙 

Laszlo posted on the Bitcoin Talk forum, offering 10,000 Bitcoin for anyone willing to get him two pizzas. Back then, Bitcoin was practically Monopoly money.

BitcoinTalk – Click to enlarge.

Jeremy Sturdivant, a fellow crypto enthusiast, steps up, orders two large supreme pizzas, and bam – history is made.

Those 10,000 Bitcoins? Worth about $40 at the time. Today, they’d fetch you a cool $1.11 billion.

Sturdivant, just 19 then, used the Bitcoin to fund a road trip with his girlfriend. Laszlo has been interviewed numerous times over the past 15 years, has zero regrets. For him, it was about proving Bitcoin’s utility, not hoarding digital coins.

Today is a celebration of how far Bitcoin has come and a nod to the insane journey that started with a couple of pieces of cheesy pie. 🍕 

AVALANCHE
FIFA Picks Avalanche ⚽️

FIFA is launching their own blockchain platform on Avalanche. So why Avalanche? 🤔 

It’s pretty straightforward – Avalanche is fast, cheap, and doesn’t crash when things get busy (unlike some other blockchains we know).

What About That Algorand Deal? ⛓️ 

FIFA had actually partnered with Algorand back in May 2022, promising big changes for fan engagement. But plans change. They quietly ended things with Algorand in before jumping ship to Avalanche.

We looked at in the May 2, 2025 Litepaper.

What’s Next? 📄 

Their first big move is moving FIFA Collect (their digital collectibles platform) over to AVAX. Expect better performance, fewer technical issues, and probably some pretty cool World Cup NFTs coming our way.

From a price action perspective, AVAX is, well, pamping.

AVAXUSD Daily Chart – Click to enlarge.

The combination of BTC hitting a new all-time high along with the FIFA announcement has it up nearly +10% today – which to me a kind of muted response given the bullish macro environment.

But maybe because the news is still early? Stocktwits’ sentiment and message volume scores certainly indicate that people haven’t really picked up on the news yet:

Overall sentiment was bearish (28) just yesterday, but has since moved into neutral territory (47). And the message volume, while high (62) is only a couple points above where it was yesterday (59).

Compared to a good chunk of other crypto tickers, despite the reading being high at 62, it’s underperforming its peers who have message volumes in the 90+ range. 

SUI
Sui’s Largest DEX Rocked For $223 Million 😱

Cetus Protocol – the big dog DEX on the Sui blockchain – got absolutely rocked on today. We’re talking $223 million at risk. The culprit? A gnarly smart contract vulnerability that some jerk with spoof tokens like BULLA used to completely annihilate Cetus’s liquidity pools.

They made off with juicy assets like SUI and USDC – but let’s get into what’s happened and what’s happening since then.

Timeline of the Cetus DEX Hack Disaster (EST) 📅

• Cetus’ official X posts they’ve detected an ‘incident’ at 7:34 AM EST.

• Attacker kicks things off using bogus tokens (like BULLA) to mess with price curves and liquidity reserves, siphoning off real assets like SUI and USDC from Cetus’s pools.

• Over $11 million in SUI evaporates immediately from the SUI/USDC pool.

• Cetus’ offical X confirms an attack at 11:00 AM EST.

Within Hours:

• By early afternoon, AMLBot tracks about $212 million shifted over to Ethereum.

• Hacken’s Extractor confirms another $63 million moving swiftly, including a neat bundle of 20,000 ETH that lands in a shiny new wallet.

• Cetus finally slams the brakes, pausing all smart contracts to stop further bleeds (because that’s decentralization…).

Market Panic Ensues:

• Daily volume on Cetus spikes from $320 million to a frenzied $2.9 billion, as traders panic and wallets flee.

• Tokens go into freefall: CETUS plummets up to –40%, meme-coins like BULLA and MOJO crash around 75–90%. Sui’s token itself currently (2:45 PM EST) down -0.89%

Damage Control:

• Other DEX players on Sui – like Momentum and Bluefin – hit pause.

• Scallop also halts borrowing, reassuring customers that “funds are safe,”.

Support and Recovery:

• Cetus and the Sui Foundation team up, managing to freeze roughly $162 million of stolen loot. About $60 million is still AWOL.

What’s Happening Right Now ↘️ 

• Cetus is knee-deep in investigations, promising a detailed breakdown soon.

• Hacker still moving stolen funds around Ethereum and Sui wallets, clearly enjoying the chase.

We’ll keep you updated as this story continues to develop. 📕 

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🌀 Plume and Centrifuge Team Up to Tokenize RWAs

Expect to hear more RWA news like this to keep coming out: Plume just integrated Centrifuge V3 to pump out even more tokenized Real-World Assets (RWAs) – stuff everyone swears will be worth trillions someday. Plume’s already backed by Apollo and Galaxy Digital, and Centrifuge has nearly a billion dollars tokenized. Centrifuge. 

🏦 Open Market Group Brings Real-World Assets to Sui

OMG (yes, that’s their actual acronym, and not to be confused with the crypto Omisego) is bringing off-chain yield and “real-world assets” to Sui’s blockchain. Sui users can mint Soulbound Tokens (another acronym alert – SBTs), letting anyone invest like a Wall Street hedge fund without the private jet. Supposedly this will protect users from crypto’s volatility – but it’s crypto, so good luck with that. Sui.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🎧 EVEN Ditches Old-School Streaming for Avalanche Because Artists Actually Want to Get Paid

Musicians can now get rich or crash in real-time. Music platform EVEN just migrated to Avalanche, building their own dedicated blockchain to let artists drop music directly to fans (bye, Spotify?). They claim artists will make more money by ditching traditional streaming platforms. Avalanche.

🎮 Animoca Brands Invests in Astar Network

Animoca Brands is investing in Astar Network, hopinh to bring anime-themed IP to blockchain games. They’re promising smoother onboarding from Web2 to Web3, so now anime fans can lose money on-chain even faster. Anime ID and Anime Art Fest are already on deck. Astar Network.

🎟️ Chiliz Powers NFT Tickets for Naver Pay

Naver Pay just pulled off NFT-based tickets at a golf event (of all things), thanks to Chiliz Chain. 50,000 fans jumped on board to get QR code tickets and digital collectibles. Look, NFTs at a golf tourney might seem extra, but at least Chiliz got 33 million Naver Pay users exposed to blockchain. Yay mainstream adoption? Chiliz.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

⚖️ Bancor Sues Uniswap

Being “decentralized” doesn’t protect you from lawyers. Bancor just sued Uniswap for patent infringement over decentralized exchange tech. Bancor says Uniswap stole their automated market-maker design. If Bancor wins, expect every other DEX to lawyer up. Bancor.

🦁 Brave Launches .brave Domains

Brave Browser now lets its 85 million users grab their own “.brave” domain via Unstoppable Domains. This means you can send crypto without copy-pasting wallet addresses – and host your censorship-resistant cat memes directly on IPFS. Brave says it’s all about decentralization and digital identity, but honestly, half the fun is probably just flexing your personalized crypto domain. Basic Attention Token.

🥞 PancakeSwap Killing Off Position Managers

Heads up, PancakeSwap users: Position Managers like Bril, Defiedge, Teahouse, Range, and Alpaca are being shown the door starting June 21st. If you don’t withdraw your liquidity in time, you’ll find your funds tossed into unmanaged vaults – basically crypto’s version of “good luck, you’re on your own now.” So withdraw ASAP or risk watching your impermanent loss go from bad to, well, close to permanent. PancakeSwap.

OLD NEWS
Last Years News, Today 👴

From the May 22, 2024 Litepaper:

• Historic FIT21 Bill Vote 📕:

  • U.S. House voting on Financial Innovation and Technology for the 21st Century Act – first crypto-focused legislation aiming for regulatory clarity.

  • Bill defines digital assets, requires registration for commodity exchanges, protects self-custody, and splits oversight between CFTC (commodities) and SEC (securities).

• Quick Crypto Headlines:

  • Trader turns $1,360 into $2.3M via Solana meme token.

  • Bitcoin community mocks Peter Schiff’s claim ETH ETFs would harm BTC price.

  • Uniswap Labs prepares legal defense against SEC; hopes new FIT21 bill helps.

  • RFK Jr. buys GameStop shares, vows reforms, supports Bitcoin.

  • Trump campaign begins accepting crypto donations for 2024 election run.

  • Nexo faces backlash for surprise fee hike, damaging user trust.

LINKS
Links That Don’t Suck 🔗

🌥️ Solar stocks plunge as Republican tax bill worse than feared for clean energy

🦑 Kraken to offer tokenized shares of Apple, Tesla, and Nvidia for non-US customers

👜 Ledger launches Solana-branded Ledger Flex touchscreen hardware wallet with SPL token support

📜 Michigan seeks to ban state-level CBDC advocacy in spate of new crypto-focused House bills

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