BlockBeats will summarize key industry news from the week of June 9 to June 15 in this article, and recommend in-depth articles to help readers better understand the market and grasp industry trends.
Important News Review
Israel Strikes Iran, US Stocks and Crypto Market Plunge, Over $1 Billion Liquidated in a Single Day
On June 13, Israel launched an attack on Iran, resulting in the assassination of Iranian Armed Forces Chief of Staff Mohammad Bagheri. Israeli Defense Minister Katz stated that missile and drone attacks against Israel and its civilians are expected in the near future. One hour after the attack, the crypto market saw liquidations totaling $382 million, with the total market capitalization of cryptocurrencies evaporating by approximately $184 billion in nearly 24 hours. On that day, possibly influenced by risk-averse sentiment, the trading volume of "gold tokens" exceeded $410 million in 24 hours. Among them, PAXG had a trading volume of $190 million, and XAUT had a trading volume of $67.05 million. Israeli sources indicated that the actions against Iran could last at least a few days, but may extend beyond two weeks, depending on various factors, including Iran's response and US involvement. Related articles: “$1 Billion Liquidated, How Did Previous International Wars Affect Bitcoin?”, “Middle East Crisis Becomes a Crypto Killer Again, BTC Falls for Seven Consecutive Four-Hour Lines”
Musk Takes Initiative to "Back Down," Regrets Posting About Trump; Trump Responds That He "Might" Mend Ties with Musk
After a public spat with Trump, Tesla's stock plummeted, and Musk's net worth decreased by $100 billion. This week, Musk took the lead in "apologizing," stating that he regretted some of his posts about President Trump from the previous week, saying they were too extreme. Trump then indicated that he "might" mend ties with Musk, but potential reconciliation is not a priority at the moment. In an interview, Trump stated, "I don't 'blame' Musk for damaging our alliance, but I am 'a bit disappointed.' I bear no malice; I was genuinely surprised by what happened. He criticized a remarkable bill… I actually think he feels very regretful about what he said."
ConsenSys Founder: LINEA Token Will Be Issued Soon
On June 14, ConsenSys founder Joseph Lubin responded to questions about whether MetaMask would issue a token, stating, "We have developed short-term and mid-term plans and strategies, with the core being to protocolize existing products and other planned protocols. And Web3 protocols cannot do without tokens. The first to launch will be LINEA, which will be released soon. More details will be announced shortly."
X Platform Suddenly Bans Large Number of Crypto Users, Eliza, GMGN Official Twitter, and Many KOL Accounts Banned
On June 12, the X platform suddenly banned a large number of crypto users, including the official Twitter accounts of Eliza, GMGN, and several MEME KOL accounts, such as @WolfyXBT, @brc20niubi, @0xCryptoWizard, @Ga_ke, GMGN official account @gmgnai, and GMGN founder account @haze0x, with the specific reasons unknown. Crypto KOL AB Kuai.Dong stated that the wave of bans on the X platform may have been caused by crawling data and being flagged by a matrix. Related article: “Twitter's First Collective Ban on the Crypto Circle, Is Musk Upset About Memes?”
SEC Officially Repeals Gary Gensler's Harsh Proposals on DeFi and Custody
On June 10, according to the DeFi Education Fund, the SEC's crypto working group held a roundtable on "DeFi and the American Spirit." At the beginning of the roundtable, SEC Chair Atkins discussed how decentralized finance (DeFi) aligns with American values: "Economic freedom, private property rights, and innovation are the core genes of the DeFi movement." Additionally, Chair Atkins emphasized that developers of neutral tools should not be held responsible for the actions of third parties: "Engineers should not be bound by federal securities laws simply for releasing such software code. As a court stated, it is unreasonable to hold developers of self-driving cars responsible for third-party violations or bank robberies using those cars—quoting the court's ruling, 'In such cases, people do not sue the car company for allegedly facilitating illegal behavior, but rather sue the individuals committing the illegal acts.'"
Subsequently, on June 13, the U.S. Securities and Exchange Commission officially withdrew several proposed rules that would have imposed stricter regulations on DeFi and cryptocurrency custody. These proposals were made under the leadership of former Chair Gary Gensler, who led the agency's "enforcement-oriented" approach. The repealed proposals included a proposed amendment to Rule 3b-16 of the Exchange Act released in April 2023, which attempted to expand the definition of exchanges, particularly to include decentralized finance platforms under the regulation of national securities exchanges. This proposal faced criticism from various industry stakeholders. Related article: “SEC Chair Gives the Green Light, Is DeFi Summer About to Make a Comeback?”
Bloomberg Reports Tencent Plans to Acquire Nexon, Developer of DNF and MapleStory; Denial Follows the Next Day
On June 12, Bloomberg, citing informed sources, reported that Tencent Holdings Limited is exploring a potential acquisition of the South Korean gaming company Nexon and has contacted the family of the late founder Kim Jung-ju to discuss the possibility of a purchase. It is reported that the Kim family is consulting with advisors to evaluate various options. Sources indicated that it is unclear how willing NXC is to sell its stake in Nexon, and there is no guarantee that Tencent's negotiations will lead to a deal, with the specific transaction structure yet to be finalized. Tencent representatives did not respond to requests for comment, and both Nexon and NXC declined to comment. Following this news, the MapleStory game token NXPC briefly surged over 11%. The next day, sources close to Tencent revealed that "Tencent did not contact the founder's family to discuss a deal and is not considering acquiring Nexon."
Former AEX Exchange Member: AEX Founder Huang Tianwei Arrested in Thailand
On June 12, former AEX (Anyin) exchange member Deng Chaohua disclosed that AEX founder Huang Tianwei has been arrested at the Mae Sai Police Station in Chiang Rai, Thailand. Previous reports indicated that on July 14, 2022, the crypto trading platform AEX experienced a crisis, shutting down withdrawal functions and citing short-term liquidity issues that prevented it from meeting user withdrawal demands. On the same day, AEX officially announced that "in accordance with the requirements of the Guangxi police, platform-related services will be suspended at 15:32 (UTC+8) on July 17, 2022, to fully cooperate with the police investigation. Please wait for the police announcement for further updates."
A Crypto Investor's Cold Wallet Purchased on Douyin Was Stolen Overnight, Valued at 50 Million Yuan
On June 14, Slow Mist CISO 23pds revealed that Slow Mist received an emergency plea for help, stating that a crypto investor's cold wallet containing 50 million yuan worth of cryptocurrency had been completely emptied. It is reported that the investor's "cold wallet" was purchased through Douyin, and the private key was stolen at the moment of generation, with the substantial assets laundered through Huiwang within hours. 23pds warned that investors must purchase cold wallets through official channels, as 99% of so-called "brand new unopened" or "special price flash sales" cold wallets online are fake and likely tampered with.
"ETH Micro Strategy" SharpLink Gaming Files with SEC Regarding "PIPE Investors Selling Shares," Stock Price Plummets About 70% After Hours
On June 13, SharpLink Gaming (SBET), a Nasdaq-listed company seeking an Ethereum reserve strategy, saw its stock price plummet about 70% in after-hours trading after submitting new documents to the SEC. It is reported that the company submitted an S-3ASR registration statement, allowing the resale of up to 58,699,760 shares related to its private equity investment (PIPE) financing by more than 100 shareholders. The market initially interpreted this statement as indicating that PIPE investors had sold their shares, but Board Chair Joseph Lubin stated on the X platform that the market "misread" the S-3 document, which was merely a pre-registration of shares for potential resale. This is standard procedure following PIPE transactions in traditional finance and does not represent actual sales. Earlier this month, the company raised $450 million through PIPE financing, with investors including ConsenSys, Galaxy, and Pantera Capital, and the funds will be used to acquire ETH as its reserve asset. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the company as Board Chair. On the same day, SharpLink Gaming officially spent $463 million to purchase 176,271 ETH, becoming the company with the largest Ethereum holdings among publicly traded companies. Related article: “The Capital Game Behind 100% Premium: Is SharpLink's ETH Bet Just Beginning?”
SEC Sends Key Signal: Solana ETF Back on the Agenda
On June 11, the U.S. Securities and Exchange Commission (SEC) notified several institutions planning to issue a Solana spot ETF, requiring them to resubmit a revised S-1 filing within 7 days, focusing on revisions to the "physical redemption mechanism" and "staking terms." This move was seen by the market as a clear signal of a shift in regulatory attitude, quickly igniting bullish sentiment, with SOL's price subsequently rising, briefly breaking through $165, with a daily increase of up to 5%.
Cardano Founder Proposes Converting $100 Million ADA into BTC and Stablecoins
On June 13, CoinDesk reported that Cardano founder Charles Hoskinson proposed using $100 million ADA from the treasury to convert into Bitcoin and stablecoins (USDM, USDA) to increase the on-chain stablecoin ratio and enhance the DeFi ecosystem. Charles Hoskinson stated that this move would not impact the ADA market and refuted liquidity concerns. Currently, stablecoins on the Cardano chain account for only about 10% of TVL, far below the scale of the stablecoin ecosystem on Solana. This proposal contrasts with the view previously emphasized by Cardano Foundation CEO Frederik Gregaard that "TVL is not a key indicator."
Walmart and Amazon Exploring Issuance of Their Own Stablecoins
On June 13, WSJ reported that some of the world's largest retailers are exploring how to issue or use stablecoins, which could shift the vast amounts of cash and card transactions they handle outside the traditional financial system, potentially saving them billions of dollars in fees each year. According to informed sources, multinational giants like Walmart and Amazon are currently researching whether to issue their own stablecoins in the U.S.
Trump's Immigration "Gold Card" Priced at $5 Million, Over 15,000 People on Waiting List
On June 12, Trump posted on TruthSocial that the immigration "gold card" is open for registration, priced at $5 million. Previously, on February 26, Trump announced the launch of a program providing residency and citizenship pathways for investors paying $5 million, offering a new route for legal immigration while also cracking down on undocumented immigrants. Trump stated, "This program, known as the 'gold card,' does not require congressional approval and will be priced at about $5 million, granting you green card privileges." Currently, over 15,000 people have joined the waiting list for this gold card.
U.S. Senate Passes Procedural Vote on the GENIUS Stablecoin Act
On June 12, the U.S. Senate passed a procedural vote on the GENIUS Stablecoin Act (Guidance and Establishment of a National Framework for Stablecoins Act) with a vote of 68 to 30, initiating full chamber debate and a final Senate vote on the bill. If the Senate ultimately approves it, the bill will be submitted to the House for further consideration. If passed, it will become the first comprehensive federal legislation on crypto assets in the U.S., with the core goal of providing a comprehensive solution for stablecoin regulation.
Ant Group to Apply for Stablecoin Licenses in Hong Kong and Singapore; VP Responds: Multiple Communications with Regulators
On June 12, Bloomberg reported that Ant Group's international department plans to apply for stablecoin licenses in Hong Kong and Singapore. Informed sources indicated that Ant International, headquartered in Singapore, will immediately apply for a stablecoin issuer license in Hong Kong once the "Stablecoin Issuer System" takes effect in August. The company also plans to seek permission in Luxembourg. This move aims to strengthen the company's blockchain business to support its cross-border payment and fund management services. They stated that Ant Financial processed over $1 trillion in global transactions last year, with one-third handled by its blockchain-based Whale platform. On the same day, Ant Group's Vice President and President of Ant Digital Blockchain Business, Bian Zhuoqun, revealed in an interview that Ant Digital has initiated the application for a stablecoin license in Hong Kong and has already had multiple communications with regulators. On that day, Ant Financial concept stocks surged significantly, with Yunfeng Financial (00376.HK) soaring by 98%, Lion Group Holdings (02562.HK) rising nearly 15%, and Yaocai Securities (01428.HK) increasing by over 12.5%.
Trump's Birthday Parade to Be Held This Saturday, Nationwide Protests Against "No Kings" Erupting in 2,000 Cities
On June 14, coinciding with the 250th anniversary of the U.S. Army, Trump's 79th birthday, and Flag Day, Trump previously stated he would "go all out" for a grand parade, claiming the event would "surpass the World Cup and the Olympics." The Pentagon indicated that the cost of the parade could reach $45 million. Meanwhile, Trump's opponents staged large-scale protests on the same day. Progressive groups, including the American Civil Liberties Union, the American Federation of Teachers, Planned Parenthood, and Senator Bernie Sanders' campaign office, held peaceful protests in over 2,000 locations across the U.S. These demonstrations were dubbed "No Kings Day," aimed at opposing what the organizers described as Trump's overreach.
xAI Announces Partnership with Polymarket to Integrate GROK Analysis into Market Predictions
On June 11, Musk's xAI announced a partnership with the prediction market Polymarket to combine market predictions with X data and GROK analysis. Related article: “X Partners with Polymarket, Musk Moves Closer to 'Everything App'”
Coinbase to Integrate Base Network DEX into Main App and Launch Perpetual Contracts
On June 13, market news indicated that Coinbase will integrate the decentralized exchange (DEX) on the Base network into its main application, providing access to millions of on-chain assets. On the same day, Coinbase announced it would launch perpetual contracts in the U.S. Related articles: “Coinbase Aiming to Be 'America's Binance'”, “Coinbase Unveils Major Moves: 4% Bitcoin Cashback Credit Card + U.S. Compliant Perpetual Contracts”
Web3 Security Company Founder Claims Special Action Against Blockchain Practitioners by Hangzhou Police; Nano Labs Founder Jack Kong Denies
On June 10, Mirror Tang, founder of Web3 security company Salus, tweeted that some crypto industry practitioners in Hangzhou had been verbally notified by the police to go to the police station. Interviewees were asked to bring their laptops and cooperate on-site to complete data collection, information recovery, and record statements. Interviewees claimed that the collection devices used by the police recovered chat records from their uninstalled Telegram and Slack software. This news caused panic among crypto users, although many questioned its validity.
Nano Labs founder Jack Kong posted on social media stating, "To my knowledge, there have been no special actions against blockchain industry practitioners in Zhejiang and Hangzhou, and the police have not taken action; the cases involved may be related to anti-fraud efforts." Earlier, community news indicated that Hangzhou police were conducting systematic investigations of cryptocurrency practitioners.
Ethereum Developer and Foundation Director Clash Over EF's $5 Million Offer to Spin Off Geth Development Team
On June 11, Ethereum developer Péter Szilágyi clashed with Ethereum Foundation co-executive director Tomasz Stańczak. Szilágyi stated that as a key member of the Geth (Go Ethereum's main client software) development team, the foundation had previously proposed multiple times to offer $5 million for the Geth team to become independent and spin off from the foundation, but Szilágyi and his team members rejected this proposal, choosing to remain within the foundation. Earlier, the Ethereum Foundation had provided $5 million in unconditional funding support to Parity (another Ethereum client development company) to ensure that the Ethereum network has multiple clients and reduce reliance on Geth, indicating the foundation's long-standing intention to diversify client development responsibilities. Ethereum Foundation co-executive director Tomasz Stańczak clarified in a post, "There are no plans to remove Geth. It is a great client software and a talented team contributing to protocol security. We will maintain and support Geth." Related article: “Racing, Infighting, Layoffs: A Glimpse into the Power Struggles in Ethereum's Core Circle”
Trident Announces Up to $500 Million XRP Treasury Financing Plan and Appoints Chaince Securities LLC as Strategic Advisor
On June 12, market news reported that Trident announced a financing plan for its XRP treasury of up to $500 million and appointed Chaince Securities LLC as a strategic advisor. Related article: “After Winning a $100 Million Lawsuit, XRP No Longer Wants to Be a 'Cult Coin'”
CLARITY Act Amendment to "Prohibit Trump from Profiting from Crypto Assets" Rejected
On June 11, the U.S. digital asset market's CLARITY Act is under review by the House Financial Services Committee and the Agriculture Committee, with Amendment #2 "Prohibiting President Trump and his family from profiting from trading or promoting crypto assets" being rejected. Chairman Thompson stated that this is not the place to discuss presidential ethics. Other amendments reviewed include: Amendment #1 "Comprehensive Reauthorization of the CFTC (U.S. Commodity Futures Trading Commission)" was rejected; Amendment #6 "To allow the CFTC to charge more fees from market participants" was passed.
LD Capital Founder JackYi Reiterates Bullish Outlook on ETH, Trend Research Holds 142,000 Coins
On June 10, LD Capital founder JackYi reiterated his strong bullish outlook on Ethereum and its ecosystem tokens, stating that he currently holds 100,000 ETH options long positions. He believes the reasons for the undervaluation of the Ethereum ecosystem include: the ETH token itself being undervalued, optimism about the ETH/BTC exchange rate recovering during a bull market; after the relaxation of crypto policies, projects with real income, users, and products will benefit first from traditional capital inflows; and Wall Street funds are recently flowing into Ethereum for accumulation. LD Capital's Trend Research is clearly bullish on ETH, currently holding 142,000 ETH, with an unrealized profit of $42.35 million. Related article: “Trend Research: Why We Are Bullish on ETH Before the Surge”
Binance Alpha Launches Multiple Airdrops and TGE Projects This Week, Increasing Points Threshold and Claiming Rules This week's details are as follows:
June 9
Points ≥236 can claim 800 SKATE airdrop, deducting 15 points;
Points ≥198 can claim 61 SERAPH airdrop, no points deducted.
June 10
Points ≥236 can claim 2500 HOME (Defi App) airdrop, deducting 15 points;
Points ≥239 can claim 400 RESOLV airdrop, deducting 15 points;
June 11
- Points ≥229 can participate in MEET48 TGE, deducting 15 points.
June 12
- Points ≥237 can claim 8 PUNDIAI (PUNDI AI) airdrop, deducting 15 points.
June 13
- Points ≥247 can claim 372 ROAM airdrop, open time is 21:00 (UTC+8), deducting 15 points;
June 14
- Points ≥245 can claim 13,862 DEGEN airdrop, deducting 15 points.
Binance Alpha Wealth Management Center Launched; Some Airdrop Rules Modified
On June 11, according to an official announcement, Binance Wallet officially launched the Binance Alpha Wealth Management Center. Users can provide liquidity to eligible Binance Alpha token pools through this feature, earning annual yield rewards and gaining more Binance Alpha points. These points will enhance users' participation in wallet-exclusive activities, such as token generation events (TGE) and airdrop qualifications. On the same day, Binance released the qualification explanation for the Alpha trading competition: only purchases made using Alpha tokens or spot tokens are considered valid. On the 14th, Binance posted on social media that starting June 19, 2025, Binance Alpha airdrops will be distributed in two phases: Phase One: Users meeting the score threshold (X) can claim priority, everyone gets a share; Phase Two: The threshold is lowered to Y (Y < X), first come, first served, until the prize pool is exhausted or the event ends.
Mint Green LABUBU Auctioned for 1.08 Million Yuan, Same-Named Meme Surges Over 50% on the Same Day; First Financial Warns of Speculation Risks
On June 10, according to official data from Yongle Auction, the only mint green LABUBU in the world appeared at the Yongle 2025 Spring Auction, with a hammer price of 1.08 million yuan, and the auction has now concluded. This LABUBU measures 131cm in height, made of PVC, and is mint green. On the same day, the Solana ecosystem meme coin LABUBU, based on the Pop Mart IP, saw its market cap exceed $39 million, with a 24-hour increase of 58.87%.
On the evening of the 12th, First Financial published an article titled "Crypto Circle Eyes LABUBU, Illegal Speculation 'Game' Hides Huge Risks." The article pointed out that a virtual currency named "LABUBU" has quietly launched, leveraging the popularity of the trendy toy IP, and is now trading on multiple exchanges. Initially, the price of this virtual currency surged sharply, but then it experienced a significant decline. The article also indicated that LABUBU coin is not officially issued by Pop Mart but was launched by a group of community-driven developers. Industry insiders warned that the launch of LABUBU coin is a typical speculative behavior in the crypto circle, and its huge price fluctuations expose the high investment risks behind it, as most of these projects are worthless and essentially fraudulent and pyramid schemes.
Michelle Bowman Sworn in as Vice Chair for Supervision of the Federal Reserve Board
On June 10, according to an official announcement from the Federal Reserve, Michelle Bowman was sworn in as Vice Chair for Supervision of the Federal Reserve Board on Monday. The swearing-in ceremony was presided over by Federal Reserve Chairman Powell in the board's press room. Trump nominated Ms. Bowman for the position on March 24, 2025, and she was confirmed by the U.S. Senate on June 4. Her term as Vice Chair for Supervision will end on June 9, 2029, while her term as a board member will last until January 31, 2034. Related article: “Federal Reserve Welcomes New Supervision Chief, Is the Last Hawkish Bastion About to Shift?”
Federal Reserve Appoints Michael Horowitz as New Inspector General for Internal Oversight
On June 9, the Federal Reserve recently announced that Michael Horowitz will serve as the new Inspector General of the Federal Reserve, succeeding Mark Bialek, who held the position since 2011 and retired in April this year. As Inspector General of the Federal Reserve, he is also responsible for independent oversight of the Consumer Financial Protection Bureau (CFPB). His previous position was Inspector General (IG) at the Department of Justice. The Federal Reserve's Inspector General is selected by the chairman, which is unusual among government regulatory agencies. Some senators believe this arrangement prevents the Inspector General from providing true oversight of the Federal Reserve, and they have proposed legislation to require the President to select the Inspector General, subject to Senate confirmation. Following the Federal Reserve's insider trading scandal, the Inspector General has become a focus of public attention, as the office is responsible for judging whether the trading behavior of some Federal Reserve officials meets ethical standards.
Pakistan Plans to Utilize Surplus Electricity for Bitcoin Mining and AI
On June 13, related reports indicated that Pakistan is utilizing 2,000 megawatts of surplus electricity for Bitcoin mining and artificial intelligence to reduce waste and promote technological development. As of March 2025, Pakistan's installed power generation capacity is 46,600 megawatts, showing a slight increase from the previous year. Nearly 14% of the installed capacity is idle, especially during the non-peak winter season, where demand may drop to 12,000 megawatts. Pakistan aims to convert the surplus electricity from underutilized thermal power plants into revenue sources through Bitcoin mining and AI data centers. The first phase of Pakistan's Bitcoin mining plan is set to launch in 2025, allocating 2,000 megawatts of electricity for mining and AI data centers.
This Week's Major Financing: Turnkey, Noah, Hypernative, Try Your Best, OneBalance, Yupp
On June 9, crypto wallet infrastructure company Turnkey completed a $30 million Series B financing round, led by Bain Capital Crypto. Turnkey was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aiming to help developers build user-friendly wallets using APIs.
On the 10th, Fortune reported that stablecoin startup Noah completed a $22 million financing round, led by European venture capital firm LocalGlobe. Former Adyen executive Thijn Lamers joined as co-founder and president.
On the 10th, Axios reported that Web3 security company Hypernative completed a $40 million Series B financing round, led by Ten Eleven Ventures and Ballistic Ventures. Hypernative had previously completed a $16 million Series A financing round in September 2024.
On the 11th, blockchain-based loyalty platform Try Your Best (TYB) completed an $11 million Series A financing round, co-led by Offline Ventures and Strobe Ventures. Consumers on TYB can participate in gamified challenges to earn digital collectibles and maintain blockchain-based loyalty profiles.
On the 12th, the trusted account framework project OneBalance completed a $20 million financing round, led by Cyber Fund and Blockchain Capital. The total financing for the project has reached $25 million.
On the 13th, Yupp completed a $33 million seed round financing, led by a16z. The Yupp platform allows users to compare various AI models for free, where users can input prompts and view responses generated by multiple AIs side by side, selecting the best result to form a "preference data package," which is used for post-training and evaluation of AI models.
This Week's Popular Articles
“Uncovering Bullish: Parent Company Accumulates 160,000 BTC, Earns Billions in 6 Years”
Block.one, which created EOS and raised $4.2 billion, is now betting on the new trading platform Bullish to make a comeback in the crypto space and has secretly submitted an IPO application, aiming for compliant listing. Backed by substantial assets and a Wall Street background, Bullish has distanced itself from the EOS technology route, shifting towards a pro-U.S. stock, USDC-embracing regulatory stance, becoming the CEX that "most wants to become a regular army" in the crypto world. Although the path to listing is rocky and it has severed ties with the EOS community, with over 160,000 Bitcoin reserves and a clear compliance strategy, Bullish may become the next "darling" to navigate through bull and bear markets, while Block.one completes its transformation from a technological idealist to a crypto financial capitalist through its holdings and capital layout.
“Twitter's First Collective Ban on Crypto Accounts, Is Musk Getting Anxious About Memes?”
The X platform recently banned multiple cryptocurrency-related accounts, including official accounts like GMGN and Eliza, sparking widespread community attention. While there are claims that the bans are related to specific memes or bot behavior, there is a lack of concrete evidence. The new X algorithm Grok may have led to the collective bans due to user reports, content patterns, or misjudgments, reflecting the platform's content governance evolving towards automation and centralization. This phenomenon recalls Weibo's early crackdown on the crypto space and has prompted renewed interest in decentralized social platforms like Farcaster. In the face of tightening platform policies, crypto content creators urgently need to enhance their risk awareness and account security.
The conflict between Ethereum core developer Péter Szilágyi and the foundation has escalated, stemming from the Geth team's resources being marginalized for a long time, while the foundation secretly funded the establishment of a "second Geth team" within Nethermind, ultimately leading to Szilágyi's dismissal. The incident reveals deep fractures in Ethereum's internal governance: on one hand, there is a pursuit of multi-client security, while on the other, the long-standing core role and contributions of Geth are overlooked, prompting profound reflections within the community on power distribution, fairness, and decentralization ideals. As the foundation's reforms and treasury restructuring progress, this technical and governance conflict may continue to ferment.
“Coinbase Aims to Become 'America's Binance'”
Coinbase has rolled out multiple significant updates in one day: not only integrating DEX on the Base chain into its main application but also partnering with Shopify to launch USDC payment channels in 34 countries worldwide, while announcing the launch of CFTC-regulated 24/7 perpetual contracts in the U.S. and issuing crypto credit cards with American Express. This series of actions indicates that Coinbase is bridging the full-chain compliance ecosystem between CeFi and DeFi, online and offline, retail and institutional, intending to compete directly with Binance and OKX in stablecoin payments, derivatives trading, and on-chain infrastructure.
“The Overlooked TON is Making a Comeback Through NFTs”
After Telegram upgraded "gifts" to NFTs with wearable and trading functions, it ignited market enthusiasm on the TON chain, with daily trading volume at one point surpassing Ethereum. This surge is driven by official issuance, deep integration with social scenarios, and the convenience of off-chain transactions, forming a "QQ Show-style" gameplay that is entirely different from traditional NFTs. The TON NFT market quickly broke out based on Telegram's native user base, with off-chain and on-chain ecosystems gradually merging, becoming one of the most representative examples of the trend towards NFT practicality.
“KTA Conspiracy Group Exposed, Uncovering Former Google CEO Schmidt's Extramarital Affairs”
The Keeta project has recently faced a trust crisis due to allegations of fake testnets, a patchwork white paper, and ineffective SDKs, leading to a 20% drop in its token $KTA. On-chain detective ZachXBT pointed out doubts about its technical capabilities and absurd token issuance model, igniting public outcry. Keeta previously claimed to have received investment from former Google CEO Eric Schmidt, but it was actually from Steel Perlot, a company intertwined with his personal and business entanglements, which has now completely shut down due to funding issues. The community's skepticism regarding Keeta's false endorsements, manipulative behaviors, and valuation bubbles continues to rise; if the so-called "millions of TPS" do not meet expectations, Keeta may completely devolve into a vaporware project.
“After a $100 Million Lawsuit, XRP No Longer Wants to Be the 'Cult Coin'”
Despite being long viewed as a "legacy project," XRP is quietly completing a structural reconstruction from a payment chain to a multi-layered on-chain financial platform, with more institutions considering it a compliant and stable reserve asset within their financial systems. Trident's recent announcement of a maximum $500 million XRP treasury plan is a reflection of this shift; ecologically, XRPL is gradually expanding its use cases for institutions and developers through stablecoins, EVM sidechains, and the "XRPFi" financial protocol, quietly establishing a new value foundation in the absence of emotional speculation.
“Sahara AI's Token Launch is Imminent, How Have the 'InfoFi Hits' Performed After Their TGE?”
Sahara AI, with its strong financing background and decentralized AI infrastructure positioning, has become a focal project in the recent infoFi craze and will launch a community public offering on Buildpad. In the "Mindshare Era" driven by Kaito, on-chain social activity has become an important indicator affecting airdrop distribution and market performance, with multiple projects (such as Huma, LOUD, Story, Berachain, Wayfinder, Initia) guiding user participation through a Yap-to-Earn model, achieving dual drives of community growth and market speculation. This new model not only enhances community engagement but also attempts to break the traditional VC projects' lack of consensus.
“Acquiring Privy, Stripe Aims to Become the Jupiter of Stablecoins”
As regulatory winds warm and infrastructure matures, stablecoins are quietly becoming a core component of the next-generation payment network. This article focuses on payment giant Stripe's latest strategic layout—from restarting crypto payments, acquiring Bridge and Privy, to building a stablecoin "full stack" covering front-end wallets and back-end clearing. This is not just a technological iteration but a collective bet by Stripe on the future of programmable money. It sends an important signal: the proliferation of stablecoins may not originate from crypto natives but be first driven by traditional tech giants like Stripe.
The Echo platform has launched a new product, Sonar, attempting to revive a compliant version of the "ICO model," providing project parties with customizable, decentralized, and compliant token public sale tools. The first project, Plasma, supported by Tether, sold out its $500 million quota in a short time, attracting significant market attention. Sonar supports multi-chain deployment and flexible sales rules, combined with Echo's community identity system, aiming to establish direct connections between project parties and investors, challenging the existing information fragmentation and low participation under the LaunchPad model. Against the backdrop of warming regulations and the return of stablecoin enthusiasm, Sonar is expected to spark a new wave of decentralized fundraising.
“24-Hour Reversal: Musk Just Extended an Olive Branch, Trump Declares 'Relationship Over'”
Musk and Trump have recently sparked a public conflict over the "Big and Beautiful Act," leading to a rapid deterioration in their relationship. The act may undermine Tesla's carbon credit profits, causing Musk's dissatisfaction and leading to a temporary evaporation of $150 billion in Tesla's market value. Although both parties initially signaled reconciliation, Trump later warned Musk that if he funds the Democrats, he will "pay the price," declaring the relationship over. Amid their disputes, figures from politics, business, and even former Russian presidents have expressed their views. The latest developments show that the two have turned to a common voice due to the California riots, with Musk seemingly releasing goodwill through reposts, suggesting he still stands with the Republican camp, while the future direction depends on the final outcome of the act.
“In 2018, Spotting Circle, How Did Web2 Investor Lei Ming Choose the Stablecoin Unicorn?”
Circle successfully listed on the NYSE, becoming "the world's first stablecoin stock," with its market value soaring to $24 billion at one point. Early investor Lei Ming profited significantly from his judgment on "licensing capabilities" and blockchain potential. Lei Ming believes that investment should return to its essence, seizing the beta of the times, as AI, robotics, and globalization are becoming new trends. As a founding partner of Chasing Venture Capital, he is leveraging the Chasing ecosystem to create globally competitive hard tech projects, promoting a "China to Global" strategy that emphasizes both financial returns and ecological synergy, aiming to build a high-certainty, high-growth fund system in the new cycle.
“Upbit's Golden Age May Just Be Beginning”
Currently, South Korea is promoting the legalization of the Korean won stablecoin and leveraged trading, with digital asset taxation about to be implemented. Despite strict regulations, there is strong demand for leveraged trading, and trading volume is expected to increase significantly. Government officials support crypto, promoting the development of a spot leverage system, but derivatives remain restricted. Play-to-Earn and Web3 game regulations are still stringent, damaging industry trust, leading major companies to turn overseas. Upbit and Bithumb have become key targets for overseas projects, and the opening of leverage will trigger a new round of competition in the market.
“Plasma, Tether's Trillion-Dollar Stablecoin Ambition”
Plasma is a blockchain network designed specifically for stablecoins, featuring "zero-fee transfers" and aiming to become the standard for global digital dollar payment infrastructure. By not supporting general smart contracts and focusing on stablecoin transactions, it achieves higher throughput, lower latency, and security levels close to Bitcoin, all while not charging gas fees. Compared to Ethereum and Tron, Plasma has optimized the user experience to an extreme degree, making it particularly suitable for high-frequency, low-value scenarios such as cross-border payments, micropayments, and B2B trade, and is expected to handle large-scale stablecoin transactions in the future. Its economic model draws on the free expansion strategies of Web2 platforms, capturing value through liquidity aggregation, DeFi applications, and MEV extraction. As U.S. stablecoin legislation (such as the GENIUS Act) gradually clarifies, Plasma, as a compliance-friendly underlying infrastructure, is poised to become a key vehicle for the global expansion of digital dollars.
“Virtuals Lands on Ethereum, EF Executive Director Gets into AI”
I.R.I.S is an AI-driven contract security agent developed by Nethermind, with the involvement of Tomasz K. Stańczak, the current co-executive president of the Ethereum Foundation. Through collaboration with the Virtuals Protocol, it marks the first deep cooperation with Ethereum's official team in the direction of tokenized agents. The project focuses on smart contract scanning, security education, and vulnerability analysis, signifying Ethereum's formal embrace of AI agents and an attempt to incorporate them into the narrative. As the Ethereum ecosystem introduces a mature AI token economy through Virtuals, the participation, profitability, and composability of agents are significantly enhanced, providing a pathway for building a new generation of AI-native applications on Ethereum, potentially becoming an important entry point for Ethereum's next strong narrative.
“Revisiting Ethereum: What Are the Bullish Reasons for ETH Now?”
Ethereum's recent price has consistently underperformed against BTC and Solana, primarily due to the Layer 2 strategy not meeting expectations, a slow roadmap progression, and lagging development efficiency, while the community has long adhered to idealized decentralization principles. With increasing competitive pressure, the foundation is shifting towards a more pragmatic Layer 1 scaling direction and undergoing organizational restructuring and layoffs, signaling reform. Guests believe that Ethereum's technical foundation and developer ecosystem still possess strong competitiveness, but if it cannot more aggressively promote engineering optimization and user-oriented reforms, it may lose its leading advantage in the long term. Future investment decisions will depend on the foundation's improvements in decision-making efficiency, engineering progress, and community feedback mechanisms.
“After KTA's Tenfold Surge in January, These Three Concepts Are Heating Up in the Base Ecosystem”
The excitement surrounding Circle's listing has ignited the stablecoin concept, with the Base chain becoming a focal point for institutional attention as its partner, leading to the rapid rise of several projects within the ecosystem: Keeta focuses on payments and compliance, Mamo and Giza provide automated stablecoin yield strategies, Noice and QRCOIN lead innovations in social and attention economies, and BasisOS and JesseXBT showcase new possibilities for AI-driven DeFi and digital personas. These projects collectively reflect that Base is rapidly developing towards compliant finance, AI infrastructure, and large-scale applications, becoming an important landing point for the migration from Web2 to Web3.
“The Federal Reserve Welcomes New Regulatory Chief, Is the Last Hawkish Bastion About to Shift?”
Michelle Bowman has taken over as Vice Chair for Supervision at the Federal Reserve, signaling a potential important shift in the Fed's regulatory stance on crypto and stablecoins; she advocates for promoting innovation while ensuring bank stability and opposes using regulation to suppress legitimate businesses. She has previously questioned CBDCs and unclear stablecoin rules, contrasting her pragmatic stance with her predecessor's hardline style, which may bring a clearer and more open policy environment for stablecoin issuance and crypto business access.
“Joe Lubin: The 'Silent Driver' of Ethereum”
Joe Lubin transitioned from a Goldman Sachs executive to a co-founder of Ethereum, building ConsenSys with a systematic engineering mindset, creating the core stack of Ethereum infrastructure, including MetaMask and Infura, and promoting the concept of "progressive decentralization." After winning the SEC lawsuit, he led a $425 million investment in SharpLink Gaming to build an ETH treasury and plans to collaborate with sovereign funds to construct national-level financial infrastructure, attempting to position Ethereum as the foundation of the global financial system while advancing the vision of a decentralized Web3.
“An Overview of Roles in the Crypto Dark Forest”
In the ongoing narrative flood of the expanding cryptocurrency market, tokens have long ceased to be mere carriers of technological or financial innovation, instead becoming chips in a structural game. From exchanges, VCs, and KOLs to communities, airdrop players, and retail investors, everyone is caught up in a game of "who is the last buyer." This article does not attempt to deny the potential of crypto technology itself but reveals the hidden truths in the current token issuance and circulation mechanisms: how it operates like a multi-level marketing scheme and systematically concentrates benefits upwards.
“$500 Million Quota Snapped Up in a Flash, Is Tether-Backed Plasma Set to Become Bitcoin's 'SWIFT'?”
Plasma is a financial infrastructure chain supported by Tether, built specifically for the Bitcoin ecosystem, integrating three key technological features: stablecoins, sidechains, and privacy. It supports native USDT, permissionless BTC collateral lending, and privacy protection, with gas fees payable in USDT/BTC, positioning itself as a settlement layer driven by stablecoins. Its design aims to serve the new generation of BTCFi needs while competing with Circle's payment network, bridging the fiat withdrawal channels between traditional banks and crypto systems, becoming a core asset carrier within the Tether ecosystem.
“USDC vs USDT: The Stablecoin Truth Behind a Misunderstood 'Species Competition'”
Since Circle announced its listing, an invisible boundary has been officially drawn in the stablecoin market: USDC and USDT have begun to follow two different development paths. USDC is entering the Western financial system with compliance and programmability, becoming a "permissioned dollar" in fintech scenarios; while USDT relies on strong liquidity and accessibility, becoming a "survival tool" in emerging markets to evade inflation and capital controls. The differentiation between the two reflects the varying value demands of stablecoin users in different markets: Western users value innovation and efficiency, while users in emerging markets focus more on permissionless access, low costs, and capital security, thus redefining the true core value of stablecoins in different regions.
“AI Altcoins Becoming the New Darlings of Public Companies? Some Go All In, Others Test the Waters”
An increasing number of small-cap public companies are emulating MicroStrategy's holding strategy, but are no longer limited to Bitcoin; instead, they are starting to make high-leverage bets on AI altcoins like FET and TAO, hoping to achieve stock price leaps through narrative transformation and capital boosts. Behind this game are project interests binding, market maker promotions, and dual risks from regulation and finance, which may spark market enthusiasm in the short term, but long-term viability must be cautious of narrative collapse and the backlash effect of severe price fluctuations.
“Coinbase Research Report: Three Major Themes in the Crypto Market for the Second Half of 2025”
Against the backdrop of warming economic growth, rising expectations for Federal Reserve interest rate cuts, and gradually clarifying regulatory legislation, the crypto market is expected to continue its rebound in the second half of 2025, with a growing trend of enterprises adopting crypto assets. Although high-leverage purchasing behavior may trigger systemic risks in the medium to long term, Bitcoin still has room for appreciation due to its store of value attributes, while altcoin performance will increasingly depend on ETF advancements, individual narratives, and implementation capabilities.
“Marc Andreessen: The 'Operator' of Tech Power in the White House”
As Musk and Trump have a falling out, another Silicon Valley mogul, Marc Andreessen, is leveraging the situation to delve into the core of Washington, embedding key areas of defense technology, cryptocurrency, and artificial intelligence into the government power structure through a16z's capital landscape and network. After being sidelined by the Biden administration and shocked by its regulatory stance, Andreessen shifted to Trump's camp, with several former a16z executives appointed to key positions, and related companies quickly receiving policy benefits and large contracts. His influence is expanding in a nearly alliance-weaving manner, marking a new phase of tech capital's penetration into U.S. policy-making, but also raising concerns about the excessive concentration of power and the potential backlash of "betting on Trump."
As generative AI and blockchain technology accelerate their integration, the internet is facing profound restructuring at both economic and architectural levels. This article systematically outlines 11 major directions at the intersection of AI and crypto, including on-chain identity and context migration, decentralized computing networks (DePIN), inter-agent payments and collaborative protocols, PoP "proof of personhood," cross-application synchronization of vibe programming, revenue-sharing mechanisms driven by micropayments, IP registration systems on the blockchain, AI crawler payment mechanisms, more privacy-centric advertising models, and user-controlled AI companions. These directions collectively reveal a trend: decentralization is not only a technical counterbalance to centralized AI platforms but also a necessary economic and trust infrastructure for building a fairer and more open digital world in the future.
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