1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: -0.39%
ETH: -0.63%
SOL: -1.97%
XRP: -0.31%
PEPE: +0.68%
SUI: -1.03%
DOGE: -0.82%
UNI: +0.99%
BNB: -1.46%
TRX: -0.04%
24 H increase list (data source: OKX):
RAY: +17.23%
ORBS: +12.93%
SNT: +9.65%
LQTY: +8.79%
X: +8.35%
SWFTC: +7.68%
KAIA: +7.38%
AGLD: +7.28%
LAT: +7.25%
RADAR: +7.03%
2. Top 5 popular memes on the chain (data source: GMGN ):
XChat
smoking
Gaunt
GOR
FB
Headlines
The Fed continues to keep interest rates unchanged
The Federal Reserve kept its benchmark interest rate unchanged at 4.25%-4.50%, the fourth consecutive meeting, in line with market expectations.
Trump: Will take very short-term actions to push interest rates down significantly
US President Trump said, I will take very short-term actions to push interest rates down significantly, and then take long-term actions.
Circles price rose to as high as $214 after hours, a single-day increase of nearly 40%.
According to Yahoo Finance data, Circles closing price has reached $199.59, a single-day increase of 33.82%; the after-hours price has risen all the way to $214 and is currently trading at $211, with a market value of $48.4 billion.
FalconX, a cryptocurrency broker, has held preliminary talks on an initial public offering (IPO) and could file for a listing as early as this year, according to three people familiar with the matter, a move that is expected to help the company further meet growing demand for digital assets from institutional investors.
Sources said FalconX has held informal talks with bankers and advisers to explore the feasibility of an IPO. FalconX is considering entering the public markets as the company accelerates its strategic partnership and merger and acquisition plans to better serve strong demand for cryptocurrencies from institutional clients.
FalconX has not yet hired an investment bank, which is usually the first step in launching the listing process. According to data, FalconXs most recent valuation was $8 billion, which came from a $150 million round of financing completed in 2022.
On June 17, Liu Qiangdong, founder of JD.com, held a small-scale sharing session for a small number of media in Beijing. The group is currently promoting six innovative projects including stablecoins.
Liu Qiangdong said: JD.com hopes to apply for stablecoin licenses in major currency countries around the world, realize global exchange between enterprises through a compliant stablecoin system, reduce global cross-border payment costs by 90%, and increase efficiency to less than 10 seconds. I hope that one day when everyone consumes around the world, JD.com stablecoin can be used as a global payment method.
Industry News
Binance launches Soft Staking service, supporting 10 tokens including BNB
According to the official announcement, Binance launched the SoftStaking service, which allows users to participate in staking with one click through spot accounts, supporting 10 tokens including BNB, SOL, ADA, SUI, TON, NEAR, POL, ALGO, S and AXS. The service has no lock-up period, and users can trade or withdraw at any time, and rewards are distributed to spot accounts every day.
Coinbase announces Coinbase Payments and partnership with Shopify
According to the official announcement, Coinbase announced the launch of Coinbase Payments, a stablecoin payment solution for e-commerce platforms that supports 24/7, instant USDC transactions and is built on Base. The solution allows the platform to provide merchants with instant USDC payments worldwide without having to deal with blockchain complexity. Coinbase Payments has partnered with Shopify to provide its millions of merchants with USDC payment capabilities without additional setup. The product consists of a three-layer architecture: Stablecoin Checkout for consumers, Ecommerce Engine for merchants, and Commerce Payments Protocol for on-chain execution.
Ohios Bitcoin Rights bill passes House vote, next step to Senate review
According to Cointelegraph, Ohio’s “Bitcoin Rights” bill HB 116 has been passed by the House of Representatives with a vote of 68 to 26 and will be submitted to the Senate for deliberation next.
Prenetics, a US-listed company, spent $20 million to purchase 187.42 BTC
Nasdaq-listed healthcare company Prenetics Global announced that it has completed its first $20 million Bitcoin investment through the Kraken exchange, purchasing a total of 187.42 BTC at an average price of $106,712. The company said it has been approved by the board of directors to continue increasing its holdings, with the goal of becoming one of the medical companies with the largest Bitcoin holdings in the world.
According to the official announcement, Japanese fashion brand ANAP Holdings disclosed that it purchased approximately 31.2108 BTC today and currently holds approximately 184.6735 bitcoins.
Iranian exchange Nobitex loses around $81.7 million on Tron, EVM, and BTC chains
According to SlowMist, the Iranian cryptocurrency exchange Nobitex detected signs of unauthorized access to some of its information infrastructure and hot wallets. According to on-chain analyst zachxbt, Nobitex lost a total of about $81.7 million on the Tron, EVM and BTC chains. Currently, the hacker group Gonjeshke Darand has claimed responsibility for the attack.
Project News
Bitcoin Ecosystem DeFi Project Elastos Launches BTC-Backed Stablecoin BTCD
Elastos, the developer of Bitcoin DeFi protocol Be L2, launched BTCD, a stablecoin backed by BTC. The goal of the project is to create a digital version of the Bretton Woods system. BTCD is backed by Bitcoin. It is reported that the collateral amount of BTCD is equivalent to 160%-200% of the value of BTCD. When the trading price of BTCD exceeds $1, holders will destroy it to recover BTC, the supply will decrease, and the price will fall. If the price falls below $1, users will mint new BTC and sell it, the supply will increase, and the price will rise.
Paxos Launches New Startup Paxos Labs to Help Companies Issue Custom Branded Stablecoins
Stablecoin issuer Paxos announced the establishment of a new startup called Paxos Labs, which aims to help institutions introduce decentralized finance and on-chain products directly into their applications and platforms. It is reported that Paxos Labs has been incubated within Paxos for the past six months. The company will help companies connect with DeFi markets and real-world asset opportunities. Paxos Labs initial products include issuing customized branded stablecoins, deploying tokenized income strategies, and tools for managing structured digital assets.
Polygon co-founded independent startup ZisK to build open source zkVM proof technology
Polygon co-founder Jordi Baylina and the team behind Polygon zkEVM have transformed into an independent company called Zisk, and all related codes and IPs are reportedly transferred to form. According to Zisks website information, the project was incubated within Polygon Labs in May 2024 and officially became independent on June 13. Zisk will focus on low-latency, open source zkVM proof technology.
Pudgy Penguins launches P2E game Pengu Clash on TON
Pudgy Penguins launched the P2E game Pengu Clash on the TON blockchain. Pudgy Penguins said that the game will adopt a play-and-earn model, allowing players to win rewards through competition. Pudgy Penguins CEO Luca Netz said that the reason for choosing this model is essentially to make the game more skill-based.
WLFI official: Sahara uses USD1 in the BuidlPad platform IDO, raising $59 million
WLFIs official social media said that Sahara exclusively used USD1 in the IDO on the BuildPad platform, raising up to 59 million US dollars, successfully achieving an important milestone. The total amount of funds raised in this IDO reached 74.5 million US dollars, all of which were completed by two assets, USD1 and BNB.
Investment and Financing
DeFi infrastructure TAC raises $11.5 million in two rounds, led by Hack VC
TAC, a blockchain project built for Ethereum Virtual Machine (EVM) decentralized applications to access TON and Telegram ecosystems, announced that it has raised a total of US$11.5 million in seed and strategic rounds of financing. The latest US$5 million strategic round of financing was led by Hack VC.
It is reported that the project aims to provide EVM-compatible DeFi infrastructure for TON and Telegram ecosystems, and plans to gradually open up functions through phased mainnet launches. TAC has specially developed a Telegram mini application interface, allowing traditional users to use DeFi services directly in the communication software.
Web3 protocol Thousands announced that it has jointly completed a $9 million financing with its sister company, Web3 game development company The Wildcard Alliance. Arbitrum Gaming Ventures and Paradigm co-led the investment. The new funds will be used to accelerate the development of its comprehensive product ecosystem, use the Thousands protocol and Thousands.tv platform to open up new creator-centric user acquisition channels, and help launch their upcoming game Wildcard.
Nook, a cryptocurrency savings app founded by three former Coinbase engineers, has raised $2.5 million in funding, with participation from Coinbase Ventures, defy.vc and UDHC. The company declined to disclose the valuation of this round of funding. It is reported that Nook is committed to making it easier for non-cryptocurrency native users to increase their cryptocurrency holdings through services such as Aave, which allows users to lend their cryptocurrencies to borrowers in exchange for interest.
SaturnX, a UAE stablecoin infrastructure service provider, announced the completion of a $3 million seed round of financing, led by White Star Capital and participated by strategic institutional investors.
SaturnX provides global payment API services based on stablecoins for enterprises and financial institutions, supports intelligent foreign exchange routing and compliant payment networks, and focuses on major remittance corridors such as Southeast Asia and Africa. In just 5 months since its establishment, the platforms transaction volume has exceeded US$250 million and has achieved profitability.
Layer 1 project Defx completed a $2.5 million seed round of financing, with participation from Pantera Capital, CMT Digital, gumi Cryptos Capital (gCC), Baboon VC, CoinShares Ventures, Robot Ventures and Polygon co-founder Sandeep Nailwal. The new funds are intended to support its construction of a decentralized exchange that optimizes perpetual contract trading.
According to Cointelegraph, Eyenovia (NASDAQ: EYEN), a U.S. listed company, has completed a $50 million financing and plans to launch a treasury strategy for the HYPE token, becoming the first U.S. listed company to include HYPE in its balance sheet.
Regulatory trends
UK plans to implement restrictive banking crypto asset regulations by 2026
David Bailey, executive director of prudential policy at the Bank of England, said Britain plans to introduce stricter regulatory rules on bank crypto asset exposure by 2026 to maintain financial stability. The proposal will adopt the Basel Committees recommendations and may limit exposure to highly volatile assets such as Bitcoin to less than 1%. Bailey said in London that it is more appropriate to take a more conservative approach to bank crypto risks at this stage.
Character Voice
U.S. Treasury Secretary Bessette said that Trumps promotion of cryptocurrencies and stablecoins will strengthen the global dominance of the U.S. dollar. He believes that stablecoins have the potential to become the largest buyer of U.S. debt and are a key factor in locking the dollars hegemony. Previously, the Senate had just passed stablecoin legislation, and Trump hoped to sign the bill before August.
Fed Chairman Powell: Monetary policy still needs to be moderately restrictive to the economy
Fed Chairman Powell said at a press conference that given the current state of inflation, monetary policy still needs to impose some restrictions on the economy. The current interest rate level is not very high. The current policy can be described as moderate or moderately tightened, and it may now be more inclined to be moderately restrictive. He added: If you look at the current economic performance, you will find that it does not behave like it is experiencing very tight monetary policy.
Skybridge Capital founder: Companies using debt to buy Bitcoin will harm Bitcoin
Anthony Scaramucci, founder of Skybridge Capital, criticized companies that issue bonds to buy Bitcoin as corporate funds, saying it is a dangerous trend that could ultimately harm these companies. Although both Anthony Scaramucci and Michael Saylor are bullish on Bitcoin, he believes that Bitcoin is digital gold while Michael Saylor believes that Bitcoin is a digital property with a potential value of $500 trillion.
On-chain detective ZachXBT posted on the X platform that the current crypto industry is experiencing the outbreak of a crime super cycle, with a surge in on-chain money laundering activities, especially after politicians launched Meme coins and multiple cases were dropped.
He pointed out that in recent hacking incidents including Bybit, DMM Bitcoin, and WazirX, hacker groups such as Lazarus Group have successfully laundered stolen money through over-the-counter traders and money laundering groups. He estimated that the scale of the black U black market on the Tron chain is no less than 5 billion to 10 billion US dollars, and most of it has not been attributed.
Some teams knew that more than 50% of the transaction volume in their protocols came from stolen funds, but they chose to stand by and collect fees without doing anything. KOLs openly deceived fans and project owners, and almost never suffered any consequences. Due to legal lags, courts frequently sided with smart contract attackers. In the current more relaxed environment, the boundary between black and gray is obvious: those who do gray hat (regulatory arbitrage, money laundering channels, etc.) are in a favorable situation, while black hat (phishing, social work, robbery) are in the most dangerous moment in history.
Coinbase CEO: Stablecoins are a viral flywheel for crypto users to get started
Coinbase CEO Brian Armstrong said in a post: “Stablecoins are a viral flywheel for crypto users to get started. Businesses can immediately feel the convenience after receiving stablecoins, and at the same time pay suppliers with stablecoins, further accelerating the closed loop of the ecosystem.”
