Odaily reported that after Open Standard announced the launch of its new stablecoin, Open USD (OUSD), Circle's stock price fell over 16% on Tuesday. The stablecoin is backed by over 140 companies, including Visa, Stripe, Mastercard, BlackRock, and Coinbase, raising market concerns that it could pose competitive pressure on Circle's USDC.

However, William Blair analysts believe the sell-off was an overreaction and reiterated an "Outperform" rating on Circle's stock, suggesting the decline may present a buying opportunity. The firm believes that Circle holds a competitive advantage in the stablecoin space due to its first-mover status, deep liquidity, and mature payment infrastructure, positioning it well even against high-profile competitors like OUSD.

Circle CEO Jeremy Allaire stated that the company welcomes competition and will continue to expand the USDC ecosystem. Analysts also noted that the overall stablecoin market is still rapidly expanding, and new entrants may not necessarily only eat into USDC's market share but could also drive broader industry adoption.

Odaily Odaily reported that the U.S. SEC stated on Tuesday that it is publicly seeking comments on the regulatory approach for "novel ETFs," evaluating whether existing fund registration and listing processes need adjustments. This review comes amid the rapid expansion of crypto ETFs and an increase in applications for prediction market-related ETFs.

SEC Chairman Paul Atkins said the regulator wants to hear market opinions to ensure that the U.S. ETF market can effectively serve investors while continuing to grow and innovate. Since Atkins took over as SEC Chairman in April 2025, the SEC has approved multiple crypto ETFs beyond Bitcoin and Ethereum, including products tracking assets like SOL and DOGE.

Currently, market attention is shifting towards prediction market ETFs linked to political and economic outcomes. The SEC has not yet approved such funds for listing and trading and has delayed several related applications. Atkins previously stated that the SEC will evaluate these products in a "transparent and prudent" manner.

In this request for comment, the SEC is asking whether a standardized listing framework should be established for ETFs meeting specific criteria and whether certain novel ETFs need to register as investment companies. TD Cowen analysts believe that this request for comment could potentially lead to rule changes as early as 2027, allowing the SEC to permit a wider range of ETF types, including products based on event contracts, crypto assets, and single-stock strategies. (The Block)

Odaily Anthropic has announced the full launch of Claude Sonnet 5. (Jin Shi)

Odaily News: According to US President Donald Trump's 2025 financial report, he generated $635 million in revenue from licensing or profit-sharing related to "Meme coins." (Jin Shi)

Odaily Odaily报道，日本政府宣布将提供最高1万亿日元（约合62亿美元）资金，支持包括SoftBank Group旗下企业在内的9家公司联合开发本土人工智能基础模型，以加速追赶美国与中国在AI领域的领先优势。

The plan aims to help Japan establish an independent and controllable AI technology system, strengthen "technological sovereignty," and reduce reliance on overseas large models and computing ecosystems. The project will focus on basic large model research and development, with participants including SoftBank and several other technology companies, and will primarily cover core areas such as computing infrastructure, model training, and industrial applications.

The Japanese government stated that this move reflects the accelerating global AI race, where countries are speeding up the construction of local AI ecosystems through national funding and industry alliances to enhance strategic competitiveness. (Nikkei)

Odaily reported that the U.S. Securities and Exchange Commission (SEC) is seeking public comments on "novel ETFs" to evaluate its regulatory framework and market rule design. In the document, the SEC noted its ongoing attention to market interest in a variety of innovative products, including funds related to crypto assets, investment opportunities based on blockchain technology, and novel financial derivatives such as "event contracts."

This request for comments is seen as a further proactive exploration by the SEC regarding the boundaries of ETF regulation. Particularly against the backdrop of sustained growth in demand for crypto ETFs, on-chain asset exposure products, and structured derivatives, regulators are attempting to find a new balance between innovation and risk control. (The Block)

Odaily reported that Pump.fun announced on X platform that it will discontinue support for the Tokenized Agent issuance feature, but existing tokens that have already enabled this feature at the time of issuance will not be affected. Pump.fun stated that it will shift its focus towards issuance models that "can significantly enhance the retail trading experience," aiming to optimize the overall user interaction and trading process during the token launch phase. This adjustment may indicate that Pump.fun is further converging its Meme coin launch mechanism design, shifting towards a product direction that emphasizes usability and trading experience, rather than expanding the coverage of existing features.

Odaily reports: AI chip startup Etched has completed a roughly $800 million funding round, with investors including quantitative trading giant Jane Street and a venture capital firm affiliated with Taiwan Semiconductor Manufacturing Company (TSMC). The company is currently testing its AI inference chip product and plans to begin shipping to select customers this summer. It has also signed sales contracts totaling approximately $1 billion, though specific customers were not disclosed.

Founded in 2022, the company positions itself as a potential competitor to NVIDIA in the field of AI computing chips, focusing on designing customized chip architectures for large model inference scenarios. It is collaborating with TSMC to develop "low-voltage inference" technology aimed at reducing energy consumption and heat dissipation pressure.

This funding round, previously reported to have a valuation of around $500 million, includes participation from Stripes, funds associated with Peter Thiel, and several quantitative firms. Jane Street is said to have invested over $100 million in total, with subsequent additional contributions. (Bloomberg)

Odaily Odaily reports that Grayscale Research Head Zach Pandl stated that the Solana blockchain has become a core settlement layer for a diverse range of decentralized applications, currently hosting over 1,000 independent applications covering areas such as DeFi, social trading, and decentralized infrastructure. As of the year to date, the Solana network averages over 100 million transactions per day, equivalent to more than 1,200 transactions per second. Meanwhile, the average daily active addresses stand at approximately 4.3 million, and total transaction fees have reached about $100 million.

On the ecosystem application level, decentralized exchange Raydium holds a significant position within Solana DeFi, driving the cumulative on-chain DEX trading volume to exceed $360 billion this year, ranking first among all public chains. Additionally, the Memecoin issuance and social application Pump.fun is highly active, with approximately 1.3 million monthly active users and an average daily revenue of around $690,000, serving as a major driver of Solana's traffic and transactions.

In terms of infrastructure, the decentralized physical infrastructure project Geodnet is building a high-precision positioning network, providing centimeter-level positioning capabilities for AI systems such as autonomous driving, drones, and robots, and is regarded as an important representative of the DePIN track.

Grayscale pointed out that the Solana ecosystem has formed a significant structure driven by on-chain activity and application growth, with the SOL asset offering investors direct exposure to the network's continued expansion.

OdailyOdaily reports that the Dutch Public Prosecution Service has requested the Rotterdam District Court to declare crypto platform Knaken Cryptohandel and its affiliated entity Stichting Knaken Payments bankrupt, citing "public interest" as the reason. Knaken has been offline since the beginning of June, leaving approximately 30,000 customers unable to access their funds.

Knaken had allowed users to exchange euros for cryptocurrencies such as Bitcoin and Ethereum, and provided trading and digital asset storage services. Under EU crypto regulations, such activities require a license from the Dutch market regulator AFM, but Knaken did not obtain the necessary authorization. Additionally, a separate criminal investigation initiated by the Fiscal Information and Investigation Service is ongoing. On Monday, investigators searched relevant premises, seizing laptops, mobile phones, and company assets. No arrests have been made so far. (Decrypt)

According to Onchain Lens monitoring, Riot Platforms has deposited 500 BTC into NYDIG Custody, suspected to be for sale, valued at $29.48 million.

Odaily Planet Daily News: According to the Wall Street Journal, citing officials familiar with the negotiations, a power struggle within Iran is threatening the US-Iran peace talks: civilian leaders seek to unfreeze billions of dollars in assets, while hardline military officials aim to control the Strait of Hormuz. (Jin Shi)

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Odaily reported that the U.S. court has released four rulings today, two of which favor Trump's camp and two are unfavorable.

1. The U.S. Supreme Court, by a narrow majority, upheld state laws banning transgender girls and women from competing on female school sports teams, siding with conservatives and President Trump on this controversial culture war issue. Trump called it a "major victory" on social media.

2. The U.S. Supreme Court struck down long-standing federal restrictions on coordinated spending between political parties and candidates, a ruling likely to benefit the Republican Party's prospects in the November midterm elections. Trump stated on social media, "This is a big win for the Republican Party."

3. A federal judge in Rhode Island dismissed the Trump administration's modifications to a widely used federal housing assistance program, ruling that the government failed to consider the impact of these changes on families relying on the aid. This ruling is a victory for over a dozen states primarily governed by Democratic parties.

4. In a divided ruling, the U.S. Supreme Court rejected President Trump's planned restrictions on "birthright citizenship," overturning a core tenet of his immigration policy agenda. (Jinshi)

Odaily Planet Daily News: Amazon Web Services (AWS) has announced the creation of a new "Forward-Deployed Engineers" (FDE) organization, allocating approximately $1 billion in resources to accelerate the deployment and implementation of AI agents for enterprise customers.

It is reported that the new team will be embedded directly within client companies to assist in building and deploying customized AI systems, while fostering "autonomous capability enhancement" among enterprises during the process. This involves not only delivering solutions but also helping clients acquire the skills to continuously develop AI applications.

The FDE model was initially popularized by Palantir Technologies, with its core concept being engineers working on-site within client environments to collaboratively develop and deploy solutions, thereby rapidly responding to actual business needs and improving implementation efficiency. This model has been widely adopted in the wave of AI deployment in recent years. Currently, OpenAI and Anthropic have also launched similar FDE collaboration mechanisms, partnering with private equity firms to establish related programs valued at approximately $4 billion and $1.5 billion respectively, aimed at driving the expansion of enterprise-level AI applications.

In the announcement, AWS AI leader Francesca Vasquez stated that the organization will provide clients with agentic systems that can run directly within their AWS environment. It will also export long-term reusable engineering methods, workflows, and AI practices. The $1 billion investment primarily comes from internal resource allocation rather than being an independent investment project. Industry analysts believe that as enterprises accelerate their AI transformation, the FDE model is becoming a crucial strategy for AI infrastructure vendors to compete for enterprise customers. (TechCrunch)

Odaily, OKX has launched a new beta platform called "OKX AI", creating a task and trading marketplace for AI Agents. This enables autonomous AI agents to collaborate with each other or complete tasks for humans, and receive compensation settled in stablecoins such as Tether (USDT) or USDG.

OKX states that this platform represents its "largest AI deployment to date", essentially functioning as "an Upwork for AI agents" built upon the financial infrastructure serving its approximately 150 million users.

The system is divided into two main modules: The Agent Marketplace allows developers to publish AI agents, define services and pricing, and automatically receive revenue upon task completion; the Task Marketplace is used to post requests, where AI agents match tasks and receive payment after delivering results.

Regarding payment mechanisms, complex tasks are settled via escrow contracts, while standardized services utilize a pay-per-call instant payment model. Both methods operate on a unified agent identity system.

OKX emphasizes that its core innovation lies in the "shared identity and unified reputation system". Each AI Agent possesses a single identity that continuously accumulates reputation. Regardless of the task's complexity or payment method, records are deposited within this same reputation system, thereby distinguishing it from existing fragmented AI work platforms.