BlockBeats news, on June 12, encryption KOL AB Kuai.Dong (@FORAB) analyzed the massive account bans on the X platform targeting Crypto users that occurred this morning, stating, "The more credible result is that this wave of bans is aimed at shutting down crawling data behaviors that do not use the official Twitter API. According to previous official quotes, corporate accounts need to pay over $200,000 a month to retrieve 200 million tweets, so those doing Twitter searches and automated replies like gmgn, ai16z, and eliza likely have request volumes around 1 billion per month. Some companies, in order to save costs, used third-party crawlers and were collectively targeted. At the same time, it also affected the bloggers previously mentioned multiple times, gmgn and ai16z, who are estimated to be considered related matrix accounts. This is also why there have been many previously.

PANews reported on June 5 that, according to Decrypt, the California House of Representatives passed the AB-1052 bill with 78 votes in favor and 0 votes against, proposing to treat crypto assets with no record of operation within three years as unclaimed property and be held in trust by the state government. The bill makes it clear that assets will not be liquidated, but will remain in encrypted form in the custody of a third party, and users can claim them at any time. Proponents say the mechanism is similar to traditional unclaimed property regulations and is intended to protect users' assets; Critics worry that it violates Bitcoin's ethos of privacy and self-custody. The draft bill will now go to the California Senate with possible further revisions.