- CEX Hot Coins
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 Trading Volume Top 10 and 24-Hour Price Change:
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%
24H Price Increase Ranking (Data Source: OKX):
- On-Chain Hot Meme Top 5 (Data Source: GMGN):
solami
Fartcoin
fingy
mai
Pio
- 24H Trending Coins
ACID: An AI automated meme token based on Solana, dedicated to simplifying Web2 and Web3 tasks with AI assistants, enhancing the usability and ecological participation of decentralized applications through intelligent tools.
Headlines
New York City Mayor Eric Adams announced several crypto-friendly initiatives at the Brooklyn Permissionless conference, including promoting the use of cryptocurrency for city service payments, introducing digital asset education in schools, and forming a city council to advocate for policies favorable to the crypto industry.
GENIUS Act Enters House Review Stage
The Senate has passed the GENIUS stablecoin bill and sent it to the House for review, while the Senate Banking Committee will hold its first hearing on cryptocurrency market structure reform on Tuesday. Former President Trump has called for the House to pass the "clean version" of the GENIUS Act at "lightning speed," but there are divisions in Congress over whether to bundle it with the market structure bill.
Powell Dismisses Possibility of Rate Cut in July
When asked if the Federal Reserve is prepared to cut rates again at the next meeting in July, Fed Chair Powell rejected the question during his testimony in Congress. Powell stated, "I don't want to point to any one meeting. I don't think we need to rush." Republican Congressman Mike Lawler pressed Powell on why the Fed is not choosing to cut rates despite cooling inflation, echoing former President Trump's criticisms of the Fed Chair.
Guotai Junan International (1788.HK) was officially approved by the Hong Kong Securities and Futures Commission on June 24 to upgrade its existing securities trading license to provide virtual asset trading services and related advice. After the upgrade, clients can directly trade cryptocurrencies such as Bitcoin and Ethereum, as well as stablecoins like Tether on its platform. Guotai Junan International thus becomes the first Hong Kong-based brokerage to offer comprehensive virtual asset-related trading services, covering virtual asset trading, consulting, and related product issuance and distribution. The company has been continuously expanding its virtual asset business in recent years, including launching virtual asset ETF structured products, engaging in trading agency business, and issuing digital bonds, actively contributing to Hong Kong's development as an international virtual asset center.
Bitmain Announces Strategic Restructuring, Focusing on Crypto Infrastructure and Bitcoin Mining
According to official news, Bitmain has announced the initiation of a strategic restructuring, with Chairman and CEO Zhang Nengeng stating that the company will focus on crypto infrastructure and Bitcoin mining, including Bitcoin miner sales, self-operated mining business, and consumer-facing mining products. Additionally, Bitmain disclosed that it expects to generate approximately $900,000 in revenue for the 2024 fiscal year from the sale of edge computing products. The unaudited operating expenses related to this business account for about 15% of the company's total operating expenses for the 2024 fiscal year.
Industry News
UK Media: EU Prepares to Impose Retaliatory Tariffs to Secure a Better Trade Deal with Trump
According to the Financial Times, ahead of the upcoming negotiation deadline, a senior official warned that if the EU wants to reach a good deal, it must issue a "credible threat" of retaliation in the trade war initiated by Trump. Two EU officials stated that the chief of staff to the President of the European Commission, Seibert, told EU ambassadors after the G7 summit last week that a strong response would help persuade the U.S. President to lower the high tariffs imposed on the EU. German Chancellor Merz also hinted that his government would support taking a tougher stance. He stated on Tuesday, "If no agreement is reached, we are prepared to use various options. We can and will defend our interests." Seibert informed the ambassadors that European Commission President von der Leyen is prepared to escalate negotiations for a better deal.
Solana Treasury Company Upexi's Stock Price Plummets 60%, Investors Sell 43.8 Million Shares
Upexi (UPXI), a Solana treasury company, saw its stock price plummet about 60% on Tuesday, falling below $4, currently reported at $3.82. The drop was due to investors registering to sell 43.85 million shares, equivalent to the company's initial circulating shares in April.
Delin Holdings and ViaBTC Establish Joint Venture to Create Bitcoin Reserves
Official documents show that Hong Kong-listed Delin Holdings announced a strategic cooperation with Bitcoin mining pool ViaBTC, with both parties planning to establish a joint venture to conduct cryptocurrency over-the-counter (OTC) trading and provide asset management and family office services to OTC and cryptocurrency mining clients. Additionally, Delin Holdings revealed plans to explore the establishment of Bitcoin (BTC) reserves and develop a virtual asset trading and management platform licensed by the Hong Kong Securities and Futures Commission.
UK Listed Company Vinanz Increases Bitcoin Holdings by 37.72 BTC, Total Holdings Reach 58.68 BTC
According to an announcement from the London Stock Exchange, Vinanz (@VinanzBTC) recently announced an increase of 37.72 BTC, bringing its total treasury holdings to 58.68 BTC. The company stated that this is part of its ongoing strategy to expand its Bitcoin treasury and plans to invest additional funds from the direct subscription portion of its financing into Bitcoin assets later this week. Vinanz is a company listed on the London Stock Exchange, focusing on acquiring and holding Bitcoin as a long-term treasury asset.
South Korean Listed Company Bitmax Adds 49.06 BTC, Total Holdings Reach 300.08 BTC
South Korean listed company Bitmax (KOSDAQ: 377030) announced the addition of 49.06 BTC, bringing its total holdings to 300.08 BTC, making it the largest Bitcoin holder among South Korean listed companies. The company stated that it has completed a 50 billion won central bank funding raise and is in the process of raising another 50 billion won, and will continue to increase its Bitcoin holdings.
London-listed Company Vaultz Capital Completes First Bitcoin Purchase, Acquiring 10 BTC
London-listed company Vaultz Capital announced the completion of its first Bitcoin purchase, acquiring 10 Bitcoins at an average price of $104,621, with a total holding value of £774,570 (approximately $1.05 million). Vaultz Capital stated that this purchase marks the official launch of its Bitcoin financial strategy.
According to an official announcement, London-listed tech company The Smarter Web Company has increased its holdings by 196.9 Bitcoins, with an average purchase price of $10,389. The company's total holdings now amount to 543.52 Bitcoins.
Project News
Flashnet and Brale will launch a USD-backed native stablecoin USDB on the Bitcoin network this summer. The stablecoin will be issued on the Bitcoin Layer 2 network Spark and will be fully backed by U.S. Treasury bonds. The NFT marketplace Magic Eden will also participate in the issuance and circulation of USDB, promoting its application within the Bitcoin ecosystem. The launch of USDB will bring native USD liquidity to Bitcoin without relying on cross-chain bridges or synthetic assets, providing traders, institutions, and developers with safer and more transparent financial tools.
Aptos Labs and Jump Crypto have officially launched Shelby, a high-performance, decentralized hot storage network designed for Web3 real-time applications, covering scenarios such as streaming, AI data, social platforms, and DePIN.
Chainlink Partners with Mastercard to Support On-chain Cryptocurrency Purchases for 3 Billion Users
Chainlink has partnered with Mastercard to allow over 3 billion Mastercard holders to purchase cryptocurrencies directly through on-chain services. This integration is supported by Chainlink's cross-chain protocol and is realized in collaboration with zerohash, Swapper Finance, Shift4 Payments, XSwap, and Uniswap, bridging the traditional payment world with decentralized finance (DeFi).
Merlin BTC Staking Vault Fully Subscribed in 27 Minutes, Official Plans to Increase Quota
After launching the BTC staking feature, the first batch of 50 BTC Vault on Merlin Chain was fully subscribed within 27 minutes. The official stated that due to the enthusiastic response to the first batch, new staking Vaults will be opened gradually based on market demand to meet the growing staking needs of the community.
According to official news, the intellectual property (IP) blockchain platform Story has partnered with OKX Ventures to launch an ecological fund of up to $10 million, aimed at supporting startups that utilize IP assets and AI technology to solve real-world problems. This includes bringing real-world IP onto the blockchain to realize the financialization of IP value, allowing creators to earn revenue, and providing attributable and traceable on-chain data for large-scale AI training, thereby opening new economic channels and accelerating the development of AI.
Regulatory Trends
Xiao Feng, Chairman of HashKey Group, recently stated in an interview with Rhythm BlockBeats that once the application for stablecoin licenses in Hong Kong is approved, various currencies' stablecoins can be issued, not just limited to HKD stablecoins. The blockchain network required for deploying the issued stablecoins will be determined by the issuer, meaning it can be networks like Ethereum, Solana, or a self-operated blockchain network.
Japan's Financial Services Agency today released a document announcing that it will seriously consider transferring the regulation of crypto assets from the Payment Services Act to the framework of the Financial Instruments and Exchange Act. If successfully advanced, crypto assets will be officially positioned as financial products, and the related tax system is expected to shift from a maximum comprehensive tax rate of 55% to a separate tax rate of about 20%, potentially lifting the ban on Bitcoin ETFs and improving the investor access environment.
Hong Kong Legislative Council member Wu Jiezhuang stated, "After years of effort, the passage of the Stablecoin Ordinance marks further improvement of Hong Kong's crypto asset regulatory framework, demonstrating Hong Kong's foresight in balancing financial innovation and risk control. As a regulator, the Monetary Authority has a clear positioning for stablecoins—they are payment tools rather than investment products, and this definition helps the public rationally understand their functional boundaries."
Investment and Financing
Market News: Polymarket Raises Nearly $200 Million, Valuation Exceeds $1 Billion
Market news: Polymarket has raised nearly $200 million, with a valuation exceeding $1 billion.
Digital Asset, the developer of the privacy blockchain Canton Network, announced the completion of $135 million in strategic financing, led by DRW Venture Capital and Tradeweb Markets, with participation from well-known companies in traditional finance and the crypto sector, including BNP Paribas, Circle Ventures, Citadel Securities, DTCC, Virtu Financial, and Paxos.
Bitcoin Mining Company Hut 8 to Expand Its Bitcoin Credit Line with Coinbase to $130 Million
Bitcoin mining company Hut 8 announced a revision and expansion of its Bitcoin collateral credit line with Coinbase Credit, increasing it from $65 million to up to $130 million, and extending the loan term to July 16, 2026. This adjustment includes a reduction in the fixed interest rate to 9%, an improved collateral structure, and the addition of non-dilutive funding, which will support Hut 8's expansion plans in high-performance computing and Bitcoin mining.
On-chain derivatives trading platform Sphinx announced the completion of $2 million in Pre-Seed financing, led by Eckhardt Capital, with participation from Big Brain Holdings, Blockchain Founders Fund, Blizzard, TRIVE Ventures, Cosmos Hub, London Real Ventures, GS Futures, as well as Andrew Durgee, Stefan Rust, and Zachary Keats.
Voices from the Industry
Trader Eugene posted on social media that he has liquidated all long positions (except for some BTC) and has begun shorting certain altcoins. He believes that the impact of the Middle East situation has come to an end, and the overall market trend remains weak.
Powell: The Federal Reserve Neither Has Nor Seeks Legal Authority to Purchase Bitcoin
Federal Reserve Chairman Powell: The Federal Reserve neither has nor seeks legal authority to purchase Bitcoin.
Glassnode posted on X platform that the selling binary indicator for long-term Bitcoin holders shows the smallest sell-off since June 10, as the supply held by long-term holders approaches a historical high of approximately 14.7 million BTC, indicating sustained confidence—despite recent market volatility, long-term investors remain unwilling to sell.
Bloomberg Industry Research released a report exploring the potential of the Hong Kong stablecoin market and its impact on the foreign exchange market. Analysts stated that any stablecoin pegged to the Hong Kong dollar is backed by Hong Kong dollar cash or cash equivalents, thus stablecoins will still be affected by the peg between the Hong Kong dollar and the US dollar. Even if the value of stablecoins remains stable during any potential adjustments to the peg, the assets backing the stablecoins may need to be revalued, leading to the belief that future Hong Kong stablecoins could be linked to real-world assets such as real estate.
Additionally, since stablecoin issuers must hold corresponding fiat currency, a large-scale, tokenizable reserve of high-quality assets could drive the popularization of Hong Kong stablecoins, and this new trading medium could also release the liquidity of real-world assets in Hong Kong.
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