The Near community proposed a proposal to "improve the NEAR token economy by reducing inflation", which intends to reduce the maximum inflation rate from 5% to 2.5%, and retain the flexibility of adjustment in the future. If the handling fee is destroyed by about 0.1%, the actual inflation rate will drop to 2.4%, and reducing the staking yield may incentivize token holders to participate in DeFi. The proposal points out that NEAR's current 5% annual fixed inflation rate has led to an increase in circulating tokens, equity dilution, and token depreciation due to the small destruction of handling fees. However, the current support rate for the proposal is only 7.42%, and there are still 36 days and 22 hours before the end of the vote. Some opponents said that reducing the validator incentive by 50% would make its verification node unprofitable, and the number of validators and stakers would decrease, and they did not believe that the inflation rate had a strong correlation with price performance.
According to Cointelegraph, the U.S. Senate Banking Committee released the Cryptocurrency Market Structure Principles signed by several key Republican senators including Tim Scott, Lummis, Hagerty and Tillis. The document outlines the framework for the draft discussion of the bill. Earlier today, it was reported that many senators were absent from the "bipartisan" cryptocurrency market structure hearing.
According to the monitoring of on-chain analyst Ember, the "Three-Battle ETH 100% Winning Rate Whale" added another 10,000 ETH short orders at $2,452 after the rebound this morning. He now holds 50,000 ETH short orders, with a position value of $122 million. The 40,000 ETH short orders he opened on June 11 had a floating profit of more than $20 million when ETH fell to $2,200 two days ago, but he did not close the position. On the contrary, after ETH rebounded this morning, he added another 10,000 ETH short orders at $2,452. His current position: 10x short 50,000 ETH, worth $122 million, opening price $2,725, liquidation price $2,828, and current position floating profit $13.71 million.
New York mayor unveils cryptocurrency plan amid Democratic primary election
According to Cointelegraph, New York Mayor Eric Adams criticized former Governor Andrew Cuomo's digital asset policies as "wrong and misleading" at the Permissionless Conference in Brooklyn, saying that he "destroyed the state's crypto industry" during his tenure. Adams announced that he would set up a municipal committee to promote crypto policies and establish channels to support payment of city services with cryptocurrencies. He also plans to introduce digital asset education courses in schools. The mayor, who once took Bitcoin as a salary, said he still holds Bitcoin and continues to promote the Bitcoin municipal bond program. On that day, the Democratic primary vote was held, and Cuomo, who was involved in a sex scandal, was leading in the polls. Adams is seeking re-election as an independent candidate, or he will face his Republican opponent Curtis Sliwa, who advocates crypto policies in 2021. In addition, Adams is facing corruption charges for accepting illegal political donations.
Mastercard Uses Chainlink to Provide On-Chain Fiat-to-Crypto Conversion for Cardholders
According to The Block, Mastercard has reached a cooperation with Chainlink, which will allow more than 3 billion cardholders worldwide to complete the on-chain conversion of fiat currency to cryptocurrency directly through credit cards. The solution integrates Zerohash's compliance technology, while Swapper Finance, Shift4 Payments, XSwap and Uniswap protocols will support "intuitive user experience." Chainlink and Mastercard said in a statement that through this cooperation, global cardholders will be able to "purchase crypto assets directly on the chain through secure fiat-to-cryptocurrency conversions," a move aimed at eliminating "barriers that have long prevented mainstream users from entering the on-chain economy."
BIS: Stablecoins fail “three key tests”
According to The Block, the Bank for International Settlements report pointed out that digital assets linked to legal tender have failed the three key tests of unity, resilience and integrity and cannot become the pillars of the monetary system. The bank's authors said that although stablecoins have advantages such as programmability and pseudo-anonymity, their technical attributes may make their cross-border payments low-cost and fast, and their role in the entry and exit channels of the cryptocurrency ecosystem and countries with high inflation is gradually becoming apparent, but compared with issuing tools such as central banks and commercial banks, they may undermine the government's monetary sovereignty and encourage crime, and should not be regarded as cash. Specifically, stablecoins are difficult to pass resilience tests due to their structure, and additional issuances must be paid in full in advance; they are issued by centralized entities, with different standards and settlement guarantees, which undermines unity; and not all issuers follow standardized KYC/AML guidelines, which are insufficient in terms of integrity.
According to official news, the Coinbase system upgrade is scheduled to be carried out at 22:00 on July 19, Beijing time. The upgrade is expected to last 3 hours. During the upgrade, transactions on Coinbase․com (simple transactions and advanced transactions), deposits and withdrawals, transfers from Coinbase, and the use of Coinbase cards will be unavailable, and funds transferred to Coinbase may be delayed.
NYSE Arca Files 19b-4 Filing for Truth Social Bitcoin and Ethereum ETFs
According to U.S. SEC documents, NYSE Arca has submitted a 19b-4 application for the Truth Social Bitcoin and Ethereum ETF, BT. In the "Text of the Proposed Rule Changes" section of this document, it is stated that pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, as amended, and Rule 19b-4 thereunder, NYSE Arca proposes to list and trade shares of the Truth Social Bitcoin and Ethereum ETF, BT on the NYSE Arca market in accordance with NYSE Arca Rule 8.201-E.
Coinbase has launched Sonic(S) and Newton(NEWT) in the early morning
According to official news, Coinbase has launched Sonic (S) and Newton (NEWT) early this morning, among which NEWT has an "experimental" label.
Coinbase rose more than 9%, while Circle fell more than 6%
According to Decrypt, USDC issuer Circle's stock price fell 6% after Compass Point gave it a neutral rating and a target price of $205. Analysts pointed out that although USDC technology and liquidity have long-term advantages, its market share has dropped from 34% in 2022 to 27% in 2025, and it will face more competitive pressure in the future. Circle's revenue is highly dependent on the high interest rate environment, and if the Fed's policy changes, its revenue may be affected. According to the US stock market, Coinbase (COIN) rose by more than 9% and is now trading at about $335 per share.
According to Decrypt, 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 second-layer Bitcoin network, and fully backed by US Treasury bonds. NFT market Magic Eden 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.
According to the official WeChat account of Guotai Junan International, Guotai Junan International Holdings Co., Ltd. has officially obtained the approval of the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services, and can provide relevant advice to customers on this basis. After the license upgrade, customers can directly trade cryptocurrencies such as Bitcoin and Ethereum and stablecoins on its platform. Guotai Junan International has also become the first Chinese brokerage firm in Hong Kong that can provide a full range of virtual asset-related trading services, covering virtual asset trading, product issuance and distribution, and related opinion consultation.
Federal Reserve Chairman Powell: Stablecoin-related legislation is advancing, which is exciting
According to Jinshi, Fed Chairman Powell said that we just suggest that everyone wait and wait for more signs. There are no signs of weakness in the labor market. If we see weakness in the labor market, we will take measures to adjust. As long as the economy remains strong, we can pause here for a while. When the time is right, interest rate cuts are expected to continue. This will depend on economic factors in the coming months. Powell said that our current interest rate level is higher, and there is more room for interest rate cuts than when interest rates are close to zero. Fed Chairman Powell also said: Stablecoin-related legislation is moving forward, which is exciting.
Federal Reserve Chairman Powell: Banks can provide banking services to the cryptocurrency industry and conduct related businesses, provided that the safety and soundness of the financial system is ensured.
Fed Chairman Powell: The reason we are not cutting interest rates at the moment is because the Fed's internal and external economic forecasts indicate that inflation will rise significantly this year. Fed Chairman Powell said in his testimony to Congress that there may be many different paths for future interest rates. Inflation may not be as strong as expected. If this is the case, it is recommended to cut interest rates as soon as possible; if the labor market is weak, it is also recommended to cut interest rates as soon as possible, but if inflation and the labor market are strong, it may be cut later.
ProCap spent $387 million to buy 3,724 Bitcoins
According to GNW, ProCap, a subsidiary of Pomp Investments, purchased 3,724 bitcoins at a price of $103,780 per coin, with a total amount of $386.5 million.
Binance will launch the 25th HODLer airdrop project: Sahara AI (SAHARA)
According to Binance's announcement, Binance has officially launched the 25th HODLer airdrop project - Sahara AI (SAHARA), which is an AI native blockchain platform. Users who subscribe BNB to Simple Earn or on-chain income products between 00:00 on June 18, 2025 and 23:59 on June 21 (UTC) are eligible to receive SAHARA airdrop rewards. SAHARA will be available for trading on the Binance spot market at 12:00 (UTC) on June 26, 2025, supporting USDT, USDC, BNB, FDUSD and TRY trading pairs. A total of 125 million SAHARA will be distributed in this airdrop, accounting for about 1.25% of the total supply.
Fed Chairman Powell: U.S. is not in recession
Fed Chairman Powell: The United States is not in a recession. The Atlanta Fed's GDP model does not show signs of a U.S. recession. Inflation may not be as strong as expected. If this is the case, it means that interest rates may be cut earlier. If the labor market is weak, interest rates can also be cut earlier.
Chainlink Partners with Mastercard to Support 3 Billion Cardholders to Purchase Coins on the Chain
According to CoinDesk, Chainlink has reached a cooperation with Mastercard, allowing more than 3 billion Mastercard holders to purchase cryptocurrencies directly through on-chain services. The process integrates Shift4, Zerohash, XSwap and Uniswap, and Chainlink cross-chain protocol realizes data transmission. Mastercard has continued to increase its crypto layout recently. Following the cooperation with MoonPay and Kraken, this move aims to bridge traditional payments and on-chain transactions. The service will connect legal currency payments and crypto asset exchanges through a multi-chain network.
According to GlobeNewswire, SharpLink Gaming (NASDAQ: SBET) announced that it has increased its total Ethereum (ETH) holdings to 188,478. The company increased its holdings of 12,207 ETH at an average price of $2,513 per ETH between June 16 and 20, 2025, totaling $30.67 million. In addition, the company raised approximately $27.7 million in net proceeds through ATM issuance, and plans to continue to use most of the funds to increase its holdings of ETH. As of June 20, SharpLink has pledged all of its ETH holdings and has received 120 ETH rewards since launching its Ethereum-centric asset strategy on June 2.
Yuyuan Tantian published an article titled "Is stablecoin a life-saving pill for the US dollar?", saying that on June 17, local time, the US Senate passed the "Guidance and Establishment of a National Innovation Act for Stablecoins in the United States" with 68 votes in favor and 30 votes against, formulating regulatory rules for stablecoins pegged to the US dollar. The bill requires that for every 1 US dollar of stablecoin issued, there must be an equivalent amount of highly liquid and safe assets as support, and that stablecoins be included in the anti-money laundering and financial regulatory system. Analysts believe that stablecoins are expected to ease the pressure on US debt and deepen the influence of the US dollar in the global financial system, but they also face systemic risks and regulatory challenges. If users collectively demand redemption, Tether must immediately come up with a large amount of cash, but the US Treasury bonds it holds are not readily convertible assets. Once liquidity problems arise, it may lead to non-payment, just like a bank run, and become a hidden danger of triggering a systemic financial crisis. If it cannot be reasonably designed, but instead ignores its risk attributes, uses it as a leverage tool to increase debt, delays the resolution of the substantive problems of the US dollar itself, and even serves as a "scythe" to harvest the monetary sovereignty of other countries, it will undoubtedly lead to the accumulation of risks and bring backlash to the operation of the US financial system. It is reported that Yuyuan Tantian is a new media account under China Media Group, aiming to report major international events.
Bicoin issued an announcement. In response to the article "Bicoin suspected of being infected with a new malicious virus" published by Securelist today, Bicoin said that a third-party SDK was indeed implanted, but the relevant high-risk functions were never activated from beginning to end, and user data was always safe. Bicoin stated that the SDK was only used for daily activity statistics, and the high-risk interfaces involving album permissions and image uploads have been fully disabled, without affecting user privacy. At present, Bicoin has launched a full code review, accelerated the release of secure versions, and upgraded security processes, and promised to continue to strengthen platform security protection.
According to The Information, Polymarket is about to complete a round of financing of nearly $200 million, with the company's valuation exceeding $1 billion.
Traders cut odds on early Fed rate cut
U.S. short-term interest rate futures fell slightly as traders saw less likelihood of an early rate cut by the Federal Reserve.
Fed Chairman Powell: Inflation expectations are stable, tariffs may push up prices
According to Jinshi.com, Fed Chairman Powell said that long-term inflation expectations are consistent with the 2% target, and although inflation has eased significantly, it is still above the target level. He pointed out that tariffs may push up prices and put pressure on the economy, and the final impact will depend on the level of tariffs. Powell emphasized that the Fed is currently in a favorable position and can wait for more data before considering interest rate adjustments, while acknowledging that there is still uncertainty about the impact of policy adjustments on the economy.
Michael Saylor: Strategy's Bitcoin revenue this year reached $9 billion
Michael Saylor tweeted that Strategy ($MSTR) has earned 85,871 bitcoins this year, which is worth about $9 billion at current prices.
Investment bank Jefferies: Bitcoin mining revenue increased by nearly 20% in May
According to CoinDesk, investment bank Jefferies said that due to the 20% increase in Bitcoin prices and a slight increase of 3.5% in the total network computing power, Bitcoin mining revenue increased by 18.2% in May. The report shows that North American miners accounted for 26.3% of the total network computing power in May, up from 24.1% in April. Among them, MARA Holdings ranked first in mining volume that month, reaching 950 Bitcoins, a month-on-month increase of 35%.
Binance: The Alpha points requirements for NEWT airdrops are 241 points and 180 points respectively
According to Binance, Newton Protocol (NEWT) will be available for trading on Binance Alpha at 21:00 (Beijing time) on June 24. Eligible users can use Alpha points to claim 125 NEWT airdrops through the Alpha Events page within 24 hours after trading starts. The airdrop will be carried out in two phases, with 241 points required in the first phase (first 18 hours) and 180 points required in the second phase (last 6 hours), on a first-come, first-served basis. Each claim will consume 15 points, and users must complete confirmation within 24 hours, otherwise it will be deemed as abandoned.
Trump releases message that "Israel will not attack Iran" and says all planes will return
Trump posted on Truth Social that "Israel will not attack Iran" and that all aircraft would return and conduct "friendly flights" and that a "ceasefire is in effect". But according to Axios reporters, US President Trump called Israeli Prime Minister Netanyahu and asked him to completely avoid any offensive actions against Iran. Netanyahu told Trump that he could not cancel the attack and that some kind of response was needed for Iran's violation of the ceasefire agreement. In the end, it was decided to significantly reduce the scale of the attack and cancel the attack on a large number of targets.
US President Trump was interviewed before going to the NATO summit. When asked whether the ceasefire agreement between Iran and Israel was violated, Trump said: "I don't think so." Trump said he did not like Israel's practice of "laying down its arms" immediately after the two sides reached a ceasefire agreement. Trump said that both Israel and Iran violated the ceasefire agreement. Trump also said that Iran can never rebuild its nuclear program and Iran's nuclear capabilities have been eliminated.
Iran and Israel reached a ceasefire, and U.S. stocks opened higher, with the Dow up 0.63%, the S&P 500 up 0.64%, and the Nasdaq up 0.9%. Large technology stocks rose across the board, with Tesla (TSLA.O) up 1.86% and Amazon (AMZN.O) up 1.56%. Nano Labs rose 158%. Circle fell about 6%.
Nano Labs announces $500 million convertible note private placement for BNB strategic reserve
Nano Labs Ltd (NASDAQ: NA) announced that it has signed a convertible note subscription agreement with multiple investors to issue convertible notes totaling $500 million. The term of this note is 360 days, and the principal does not accrue interest before maturity. The holder can choose to convert the note into the company's Class A common stock within the term, with an initial conversion price of $20 per share. Nano Labs plans to initially acquire $1 billion worth of BNB through this financing and private placement, and aims to hold 5% to 10% of the total circulating supply of BNB for a long time.
Binance: Alpha Points Requirements for DeLorean (DMC) Airdrop Claims Are 248 and 210 Points
Binance becomes the first platform to list DeLorean (DMC). Alpha trading will start at 19:00 (Beijing time) on June 24, and contract trading will start at 21:00. Eligible users can use Alpha points to claim 4,800 DMC airdrops through the Alpha Events page within 24 hours after the start of trading. The airdrop is divided into two stages. The first stage (the first 18 hours) requires 248 points, and the second stage (the last 6 hours) requires 210 points, first come first served. The claim will consume 15 points and must be confirmed within 24 hours, otherwise it will be considered abandoned.
Fed's Bostic: There is no need to cut interest rates at the moment, and a 25 basis point rate cut is expected later this year.
According to Canaan Inc.'s official account, Canaan Inc. (NASDAQ: CAN) announced the launch of a strategic reorganization to focus on Bitcoin mining machine sales and self-operated mining business, and will terminate non-core AI chip business units. The company said that this move is aimed at streamlining operations, improving capital efficiency, and focusing resources on the core strengths of the digital asset ecosystem. Canaan Inc. expects that overall operating expenses will drop significantly after the reorganization, and will continue to promote encryption infrastructure innovation and global market layout in the future.
The People's Bank of China and six other departments jointly issued the "Guiding Opinions on Financial Support to Boost and Expand Consumption", which mentioned the continuous optimization of payment services. Support financial institutions to focus on key consumption scenarios such as "food, housing, transportation, travel, shopping, entertainment, and medical care", continue to promote the construction of payment facilitation, effectively improve the compatibility of various payment methods such as cash, bank cards, mobile payments, and digital RMB, and provide consumers with a more efficient and convenient payment experience. Continue to improve the level of aging-friendly payment services, optimize the foreign card acceptance environment in key areas, deepen cooperation between credit card consumption and various scenarios, and effectively meet the payment service needs of groups such as the elderly and foreigners coming to China. Encourage pilot areas to actively and steadily promote the digital RMB in the field of consumption.
