1. Popular currencies on CEX
BTC: 0.99%
ETH: 1.67%
BNB: 0.84%
SOL: 1.2%
DOGE: 1.28%
PEPE: 1.21%
SUI: -0.57%
UTK: 1.71%
XRP: 1.49%
TRX: -0.47%
CEX top 10 trading volume and 24-hour rise and fall:
DUCK: 16.37%
CFG: 15.43%
LOOKS： 9.73%
BCH: 8.68%
CSPR: 7.39%
ICE: 5.94%
MAJOR: 5.25%
APT: 4.9%
FORTH: 4.56%
BSV: 4.11%
24 H increase list (data source: OKX):
2. Top 5 popular memes on the chain (data source: GMGN ):
solami
Fartcoin
fingy
mai
Pio
3. 24-hour hot search currencies
ACID: An AI-automated meme token based on Solana, dedicated to simplifying Web2 and Web3 tasks with AI assistants, and improving the usability and ecological participation of decentralized applications through intelligent tools.
Headlines
New York Mayor Eric Adams announced several crypto-friendly initiatives at the Brooklyn Permissionless Conference, including a push to allow the use of cryptocurrencies to pay for city services, the introduction of digital asset education in schools, and the formation of a city council to advocate for policy directions that are favorable to the crypto industry.
GENIUS Act enters House of Representatives review
The Senate has passed the GENIUS stablecoin bill and sent it to the House of Representatives for deliberation, while the Senate Banking Committee will hold its first hearing on cryptocurrency market structure reform on Tuesday. President Trump called on the House of Representatives to pass the clean version of the GENIUS bill at lightning speed, but there are differences within Congress on whether to package it with the market structure bill.
Powell dismisses possibility of July rate cut
When asked if the Fed is ready to cut interest rates again at its next meeting in July, Federal Reserve Chairman Jerome Powell rejected the question during congressional testimony. I dont want to point to one meeting. I dont think we need to rush it, Powell said. Republican Rep. Mike Lawler pressed Powell on why the Fed has not chosen to cut interest rates despite cooling inflation, echoing President Trumps criticism of the Fed chairman.
On June 24, Guotai Junan International (1788.HK) was officially approved by the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services and related opinions. After the upgrade, customers can directly trade cryptocurrencies such as Bitcoin and Ethereum and stablecoins such as Tether on its platform. Guotai Junan International has thus become the first Chinese brokerage firm in Hong Kong to provide a full range of virtual asset-related trading services, covering virtual asset trading, consulting and related product issuance and distribution. In recent years, the company has continued to expand its virtual asset business, including launching virtual asset ETF structured products, conducting trading platform agency business and digital bond issuance, etc., actively helping Hong Kong build an international virtual asset center.
According to official news, Canaan Technology announced that it has initiated a strategic reorganization. Its chairman and CEO Zhang Nangeng said that it will focus on the fields of crypto infrastructure and Bitcoin mining, including Bitcoin mining machine sales, self-operated mining business, and consumer-oriented mining products. In addition, Canaan Technology disclosed that the revenue from the sale of edge computing products in fiscal 2024 was approximately US$900,000. The unaudited operating expenses related to this business accounted for approximately 15% of the companys total operating expenses in fiscal 2024.
Industry News
British media: EU prepares to impose retaliatory tariffs to secure a better trade deal with Trump
According to the Financial Times, a senior official warned that if the European Union wants to reach a good deal, it must issue a credible threat to retaliate in the trade war launched by Trump if it wants to reach a good deal. Two EU officials said that the chief of staff of the European Commission President, Seibert, told EU ambassadors after the G7 summit last week that the prospect of a strong response would help convince the US president to lower the high tariffs imposed on the EU. German Chancellor Merz also hinted that his government would support tougher measures. He said on Tuesday: If there is no agreement, we are ready to use all options. We can and will defend our interests. Seibert told ambassadors that European Commission President von der Leyen is ready to escalate negotiations to get a better deal.
Solana treasury company Upexis stock price plummets 60% as investors sell 43 million shares
Solana treasury company Upexi (UPXI) shares plunged about 60% at the opening on Tuesday, falling below $4 to $3.82, as investors registered to sell 43.85 million shares, which is equivalent to the companys initial outstanding shares in April.
Delin Holdings and ViaBTC form joint venture to build Bitcoin reserves
Official documents show that Hong Kong-listed company Delin Holdings has announced a strategic partnership with Bitcoin mining pool ViaBTC. The two parties intend to establish a joint venture to jointly conduct over-the-counter (OTC) cryptocurrency transactions and provide asset management and family office services to OTC and cryptocurrency mining customers. In addition, Delin Holdings also revealed that it will explore the establishment of Bitcoin (BTC) reserves and the development of a virtual asset trading and virtual asset management platform licensed by the Hong Kong Securities and Futures Commission.
According to the London Stock Exchange announcement, Vinanz (@VinanzBTC) recently announced that it has increased its holdings of 37.72 bitcoins, bringing its total treasury holdings to 58.68. The company said this is part of its expanding Bitcoin treasury strategy and plans to invest additional funds from the direct subscription portion of the financing into Bitcoin assets later this week. Vinanz is a company listed on the London Stock Exchange that focuses on acquiring and holding Bitcoin as a long-term treasury asset.
South Korean listed company Bitmax (KOSDAQ: 377030) announced the purchase of an additional 49.06 bitcoins, bringing its total holdings to 300.08 BTC, making it the largest bitcoin holder among South Korean listed companies. The company said it has completed 50 billion won in central bank funds and is raising another 50 billion won to continue increasing its holdings of bitcoin.
London-listed Vaultz Capital completes first Bitcoin purchase, buying 10 BTC
Vaultz Capital, a London-listed company, announced that it has completed its first Bitcoin purchase, buying 10 Bitcoins at an average price of $104,621, with a total holding value of 774,570 pounds (about $1.05 million). Vaultz Capital said that this purchase marks the official launch of its Bitcoin financial strategy.
According to an official announcement, London-listed technology company The Smarter Web Company announced that it had increased its holdings of 196.9 bitcoins, with an average purchase price of $10,389. The companys total holdings now stand at 543.52 bitcoins.
Project News
Flashnet and Brale will launch USDB, a native stablecoin backed by the US dollar, on the Bitcoin network this summer. The stablecoin will be issued on Spark, the Bitcoin layer 2 network, and fully backed by US Treasury bonds. Magic Eden, the NFT market, will also participate in the issuance and circulation of USDB to promote its application in the Bitcoin ecosystem. The launch of USDB will bring native US dollar liquidity to Bitcoin without relying on cross-chain bridges or synthetic assets, providing traders, institutions, and developers with more secure and transparent financial tools.
Aptos Labs and Jump Crypto Launch Shelby, a Next-Generation Decentralized Hot Storage Network
Aptos Labs and Jump Crypto have officially released Shelby, a high-performance, decentralized hot storage network designed for Web3 real-time applications, covering scenarios such as streaming media, AI data, social platforms, and DePIN.
Chainlink and Mastercard Partner to Support 3 Billion Users to Purchase Cryptocurrency on-chain
Chainlink and Mastercard have reached a cooperation to allow more than 3 billion Mastercard cardholders to purchase cryptocurrencies directly through on-chain services. This integration is supported by the Chainlink cross-chain protocol, and is jointly implemented by zerohash, Swapper Finance, Shift 4 Payments, XSwap and Uniswap, connecting the traditional payment world with decentralized finance (DeFi).
After Merlin Chain launched the BTC staking function, the first 50 BTC Vaults were fully subscribed within 27 minutes. The official said that in view of the enthusiastic response to the first phase, new staking Vaults will be opened in succession according to market demand to meet the communitys growing staking needs.
According to official news, Story, an intellectual property (IP) blockchain platform, has partnered with OKX Ventures to launch an ecological fund with a total of up to $10 million, aiming to support startups that use IP assets and AI technology to solve practical problems. From bringing real-world IP onto the chain to realize the financialization of IP value and enable creators to gain benefits, to providing attributable and traceable on-chain data for large-scale AI training, new economic channels will be opened up to accelerate the development of AI.
Regulatory trends
Xiao Feng, chairman of HashKey Group, recently said in an interview with BlockBeats that after the Hong Kong stablecoin license application is approved, stablecoins of various currencies can be issued, not just Hong Kong dollar stablecoins. At the same time, the blockchain network required for the deployment of the issued stablecoin will be determined by the issuer, that is, it can be a network such as Ethereum, Solana, or a self-operated blockchain network.
The Japanese Financial Services Agency released a document today, announcing that it will seriously consider transferring the regulation of crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act. If it goes smoothly, crypto assets will be officially positioned as financial products, and the relevant tax system is expected to change from a comprehensive tax of up to 55% to a separate tax of about 20%, and the ban on Bitcoin ETFs may be lifted, improving the investor access environment.
Wu Jiezhuang, a member of the Legislative Council of Hong Kong, said in a statement: After years of hard work, the passage of the Stablecoin Ordinance marks the further improvement of Hong Kongs regulatory framework for crypto assets, and demonstrates Hong Kongs foresight in balancing financial innovation and risk control. As a regulator, the HKMA has a clear positioning of stablecoins - it is a payment tool rather than an investment product. This definition helps the public to rationally understand its functional boundaries.
Investment and Financing
Market News: Polymarket Raises Nearly $200 Million, Valuation Exceeds $1 Billion
Market news: Polymarket has raised nearly $200 million in funding, with a valuation of over $1 billion.
Digital Asset, the developer of the privacy blockchain Canton Network, announced the completion of a $135 million strategic financing round led by DRW Venture Capital and Tradeweb Markets, with participation from BNP Paribas, Circle Ventures, Citadel Securities, DTCC, Virtu Financial, Paxos and other well-known companies in traditional finance and encryption.
Bitcoin Miner Hut 8 to Expand Bitcoin Credit Line to $130 Million with Coinbase
Hut 8, a publicly traded Bitcoin mining company, announced that it has revised and expanded its Bitcoin-collateralized credit line with Coinbase Credit from the original $65 million to a maximum of $130 million, and extended the loan term to July 16, 2026. The adjustment includes a fixed interest rate reduction to 9%, an improved guarantee structure, and additional non-dilutive funds, which will support Hut 8s expansion plans in areas such as high-performance computing and Bitcoin mining.
On-chain derivatives trading platform Sphinx announced the completion of a $2 million Pre-Seed round of financing, led by Eckhardt Capital, with participation from Big Brain Holdings, Blockchain Founders Fund, Blizzard, TRIVE Ventures, Cosmos Hub, London Real Ventures, GS Futures, Andrew Durgee, Stefan Rust, Zachary Keats and others.
Character Voice
Trader Eugene posted on social media that he has cleared all long positions (except for some BTC) and started shorting some altcoins. He believes that the impact of the situation in the Middle East has come to an end and the overall market trend is still weak.
Powell: Fed neither has nor seeks legal authority to buy Bitcoin
Federal Reserve Chairman Powell: The Federal Reserve neither has nor seeks legal authority to purchase Bitcoin.
Glassnode: Bitcoin long-term holder supply is close to an all-time high of about 14.7 million BTC
Glassnode posted on the X platform that the binary indicator of Bitcoin long-term holders selling showed the first minimal selling since June 10. As the supply occupied by long-term holders approaches the historical high (about 14.7 million BTC), this shows continued confidence - despite recent market volatility, long-term investors are still reluctant to sell.
Bloomberg Industry Research released a report exploring the potential of Hong Kongs stablecoin market and its impact on the foreign exchange market. Analysts said that since any stablecoin pegged to the Hong Kong dollar is backed by Hong Kong dollar cash or cash equivalents, the stablecoin will still be affected by the Hong Kong dollar-US dollar peg. Even if the value of the stablecoin remains stable during any potential adjustment of the peg, the assets supporting the stablecoin may need to be revalued, so it is believed that Hong Kongs stablecoins may be linked to real-world assets such as real estate in the future.
In addition, since stablecoin issuers must hold corresponding legal tender, the large-scale, tokenizable reserves of high-quality assets will drive the popularization of stablecoins in Hong Kong, and the new medium of exchange will also release the liquidity of Hong Kongs real-world assets.
