Organized by: Nona
This Week's Focus
This industry's carefully crafted public relations campaign for Trump has created one of the wildest lobbying battles in Washington in recent years.
Regarding the impact of digital currencies, especially stablecoins, on the global monetary system, former Deputy Treasury Secretary Zhu Guangyao spoke at the 2025 China International Issues Forum on June 26, titled "World Order and China's Foreign Strategy in a Turbulent Transformation Period."
Losses Exceed $40 Million! GMX Security Incident Vulnerability Analysis and Stolen Fund Tracking
GMX was attacked, with the attacker exploiting a reentrancy vulnerability in the project contract, profiting approximately $42 million. The Beosin security team conducted a vulnerability analysis and fund tracking for this incident.
Pump.fun Token Launch: Opportunity or Harvest?
Regarding the Pump.fun token launch, industry insiders are generally pessimistic, as the Meme market has significantly cooled down, leading to a sharp decline in Pump.fun's returns. This token launch is also seen as another harvesting action taking advantage of the market's restored liquidity.
Will, a major creditor in FTX China, detailed his personal experiences during the FTX incident, the process of asset loss, and the potential impact of FTX's motion for "restricted jurisdiction" on Chinese creditors. The interview also covered Will's review of asset allocation decisions before and after FTX's collapse, legal strategies for rights protection actions, and the systemic injustices behind the motion.
Featured Recommendations
How Can Hong Kong Win the Competition for "Global Tokenization Center"?
As the tokenization of real-world assets (RWA) accelerates into the mainstream, Hong Kong is building a new generation of financial infrastructure with a clear regulatory framework, open market strategies, and proactive policy innovations. In the second half of this competition, the key will no longer be policy orientation, but whether products truly meet market demands.
OKX has become Circle's first non-U.S. compliant exchange partner, bringing strong compliance power and support from the U.S. to its listing journey, while also enhancing its stablecoin payment business. For Circle, OKX is a great channel outside the U.S., and the collaboration can alleviate Coinbase's restrictions while expanding new users and liquidity.
U.S. SEC is Considering a Fast Track, Are SOL and XRP ETFs About to "Open the Floodgates"?
The SEC is in the early stages of developing a set of universal listing standards for crypto ETFs, aimed at significantly speeding up the approval process for such funds. If this initiative is implemented, it signals that more mainstream digital asset ETF products may soon "open the floodgates" following Bitcoin and Ethereum spot ETFs.
What is the real situation regarding stablecoin usage in Yiwu? To find out, a reporter from the 21st Century Business Herald conducted an in-depth field investigation into the usage of stablecoins in Yiwu.
Two Paradigms of Stock Tokenization: xStocks' Openness vs. Robinhood's Walled Garden
How do these platforms balance between stringent financial regulations, complex technical implementations, and huge market opportunities? What paths have they chosen, and what fundamental differences exist in their underlying logic and compliance design? This is the core that this report aims to reveal.
Ten News Items Not to Miss This Week
China and Egypt signed a memorandum of understanding to promote local currency settlement and cooperation in areas such as central bank digital currencies.
Robinhood launched ETH and SOL staking services in the U.S.
Former Chinese Vice Minister of Finance Zhu Guangyao: The U.S. is trying to use stablecoins to initiate the third phase of the Bretton Woods system.
The Shanghai State-owned Assets Supervision and Administration Commission held a study session on the development trends and response strategies of cryptocurrencies and stablecoins.
Sources: Ant International plans to integrate USDC into its blockchain platform after meeting U.S. regulatory requirements.
U.S. SEC Commissioner Hester Peirce: Tokenized securities still belong to the category of securities.
Pump.fun announced the PUMP token economics, which will be publicly sold on July 12.
The South Korean National Tax Service: Income from overseas work in cryptocurrency must be declared for income tax.
Strategy plans to issue STRD stock to raise $4.2 billion, with net proceeds to be used for acquiring Bitcoin and more.
The Director of the Hong Kong Investment Promotion Agency: Currently, there are licensed stablecoin operators in talks with its financial team to set up in Hong Kong.
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