Today's news tips:
Texas state government to allocate $10 million to buy Bitcoin
Ark Invest sold more than $100 million worth of Circle shares yesterday
Fiserv announces plans to launch stablecoin in partnership with Circle, PayPal
Trump calls on Powell again: interest rates should be cut by at least 2 to 3 percentage points
Upbit will list Newton (NEWT) trading pairs of KRW, BTC and USDT
Grayscale Space and Time (SXT) Trust Registered in Delaware
A suspected ConsenSys-related address purchased another 3,704 ETH worth $8.91 million
Regulatory/Macro
South Korea’s National Committee: Digital asset taxation has not yet been specifically discussed
The South Korean Presidential Policy Planning Committee (CPPCC) said at a regular press conference on June 24 that no specific discussion has been held on the implementation of digital asset taxation. A spokesperson for the CPPCC said that the content in the report is only a policy concept, not a finalized task, and all items should not be regarded as formally promoted policies. The CPPCC plans to determine the discussion topics and scope at the Tax and Fiscal Reform Working Group (TF) meeting on June 26, and decide on the subsequent public content based on the results of the meeting. Previously, the CPPCC mentioned in its report on June 17 that the tax system for expanding new economic taxation, including digital assets such as Bitcoin, has attracted market attention. However, due to insufficient infrastructure, the implementation of digital asset taxation is expected to be postponed until 2027.
FHFA to study crypto holdings and mortgage eligibility
Pulte, director of the Federal Housing Finance Agency (FHFA), said in a post on the X platform: “We will study the relationship between cryptocurrency holdings and mortgage eligibility.”
Texas state government to allocate $10 million to buy Bitcoin
According to CoinDesk, Texas Governor Greg Abbott recently signed Senate Bill 21, making the state the first state in the United States to establish a publicly funded Bitcoin reserve. The state will allocate $10 million to purchase Bitcoin, becoming the first state in the United States to actually inject funds (rather than just authorize) to establish a cryptocurrency reserve. Lee Bratcher, chairman of the Texas Blockchain Committee, said that although this investment only accounts for 0.0004% of the state budget, it sends an important signal that Texas recognizes the future of digital finance. The supporting bill HB 4488 also took effect at the same time, prohibiting the transfer of Bitcoin reserve funds to the state's regular fiscal revenue.
Ark Invest sold more than $100 million worth of Circle shares yesterday
Ark Invest Daily data showed that Cathie Wood's ARK Invest sold a total of 415,844 Circle shares on June 23, including 306,921 shares through the ARKK fund, 72,302 shares through the ARKW fund, and 36,621 shares through the ARKF fund. Based on the closing price of US$263.45, the total value was approximately US$110 million.
Grayscale Space and Time (SXT) Trust Registered in Delaware
According to market news, the Grayscale Space and Time (SXT) Trust is registered in Delaware.
Trump media says $400 million stock buyback plan will not affect his Bitcoin reserve strategy
According to The Block, Trump Media & Technology Group (stock code DJT) announced plans to repurchase $400 million worth of shares. The company said the repurchase will not affect its previously announced Bitcoin fund allocation plan, which is supported by $2.3 billion in private equity financing and has been approved by the US Securities and Exchange Commission. Trump Media operates the Truth Social social platform and Truth.Fi financial technology business, and its Bitcoin allocation funds come from fundraising from about 50 institutional investors. The company's latest statement said that it currently has about $3 billion in funds on its balance sheet and will maintain flexibility to explore more strategic opportunities.
Fiserv announces plans to launch stablecoin in partnership with Circle, PayPal
According to Reuters, financial technology company Fiserv (FI.N) announced on Monday that it plans to launch the stablecoin FIUSD by the end of the year and integrate it into the existing banking and payment infrastructure. It is reported that FIUSD will rely on the stablecoin infrastructure provided by Paxos and Circle Internet (CRCL.N). Some brokerage firms pointed out that with the increasing expectations of the passage of the GENIUS Act, Fiserv’s announcement of the launch of the stablecoin is quite appropriate at this time. In addition, Fiserv also stated that it has reached a cooperation with PayPal (PYPL.O) to achieve interoperability between FIUSD and PayPal USD (PYUSD) so that consumers and businesses can more conveniently transfer funds at home and abroad.
Viewpoint
Report: UK could achieve £40 billion in crypto and Web3 economic value by 2035
The latest study "Decentralized Economic Potential" released by the UK independent advocacy organization Startup Coalition shows that by 2035, the UK cryptocurrency and Web3 sectors may create up to 40 billion pounds of economic value. The report points out that the application of stablecoins, DLT-based user-generated content (such as social media), and the combination of blockchain and AI will become the main growth drivers. Although the UK Financial Conduct Authority (FCA) has begun to formulate crypto-related and Web3-related regulations, specific policy documents are not expected to be issued until 2026. The current lack of a clear decentralized regulatory framework has made many startups prefer the more well-regulated US market.
According to Iranian media Fars News, the Supreme Council of the National Security Council of Iran stated that the Iranian armed forces are distrustful of enemy statements and will respond to any further aggression at any time. The committee also stated that victory forced Israel to unilaterally accept defeat and stop aggression. Earlier, the Israeli military confirmed that Iran launched two missiles at Israel, but both were intercepted. Israel then threatened to retaliate with force and attack targets in the center of Tehran. In response, several Iranian official media denied that Iran violated the ceasefire agreement.
According to the latest survey by the Official Forum of International Monetary and Financial Institutions (OMFIF), 70% of central bank reserve managers expressed their reluctance to invest in the U.S. dollar due to the U.S. political environment, a significant increase from 31% in 2024. At the same time, 32% of central bank reserve managers plan to increase their gold allocation in the next 12 to 24 months, the highest level in at least five years.
Wu Jiezhuang, a member of the Legislative Council of Hong Kong, said that after years of efforts, the passage of the Stablecoin Ordinance in Hong Kong marks the further improvement of the regulatory framework for crypto assets and demonstrates Hong Kong's forward-looking approach in financial innovation and risk management. The HKMA clearly defines stablecoins as payment tools rather than investment products, which helps the public to rationally understand their functional boundaries. The Ordinance is based on international standards and establishes a high-threshold licensing system, emphasizing "substantial application scenarios" and "business sustainability" to screen out compliant and capable issuers while avoiding risks caused by overheating of the market. Wu Jiezhuang particularly affirmed that the HKMA communicated regulatory expectations with the industry in advance through the "sandbox" mechanism, and made it clear that sandbox participation is not linked to license approval, which reflects the rigor and transparency of approval. He believes that the challenge in the future lies in effectively connecting supervision with actual application scenarios. At present, the traditional financial system and stablecoin settlement are still in the adaptation period. The convenience, operability and financial risk prevention of stablecoins still need further breakthroughs to expand the influence of Hong Kong's compliant stablecoins. In addition, he suggested that Hong Kong learn from the cross-border coordination experience of the EU MiCA and continue to pay attention to market changes to adjust the guidelines in a timely manner.
Trump calls on Powell again: interest rates should be cut by at least 2 to 3 percentage points
According to Jinshi, US President Trump posted on his social media platform "Real Social" that "Mr. Too Late" Federal Reserve Chairman Jerome Powell will explain to Congress today why he refuses to lower interest rates. Europe has cut interest rates 10 times, and we have zero times. There is no inflation, and the economy is booming - we should reduce it by at least 2 to 3 percentage points. It will save the United States $800 billion a year.
Project News
Binance Alpha: Users with at least 210 points can claim 1,666 MGO tokens airdrop
Binance announced that it has become the first platform to list Mango Network (MGO), and trading will start at 16:59 on June 24th, Beijing time. At the same time, eligible users can apply for 1,666 MGO tokens through the Alpha event page within 24 hours after the start of trading. The airdrop event adopts a first-come, first-served model. Users with at least 210 Binance Alpha points can participate, and each application will consume 15 Alpha points.
Moonveil will launch $MORE TGE on June 27, and the airdrop qualification query page has been opened
Layer2 gaming ecosystem Moonveil announced that the $MORE Token Generation Event (TGE) will be officially launched on June 27. $MORE is the governance token of the Moonveil game's exclusive Layer 2 chain. It is not only used to pay transaction fees, but can also be used to purchase in-game items, asset transactions, and unlock advanced game features, aiming to provide players with a seamless next-generation gaming experience. In addition, Moonveil has launched an airdrop qualification query page, through which players can confirm their eligibility and redeem $MORE tokens. Players who previously held valid Moon Beams and Moonveil badges before 12:00 on June 22 can redeem their points for $MORE tokens, and have the opportunity to receive identity rewards and up to 2000% profit bonuses. Earlier news, the Layer2 gaming ecosystem Moonveil disclosed that it had received a $2 million investment from Polygon Labs.
Upbit will list Newton (NEWT) trading pairs of KRW, BTC and USDT
Upbit announced that it will launch Newton Protocol (NEWT) at 0:00 local time on June 25, supporting KRW, BTC and USDT trading markets.
Ethereum developers propose halving block time to 6 seconds
According to Cointelegraph, Ethereum core developer Barnabé Monnot recently discussed the EIP-7782 improvement proposal, which intends to reduce the block generation time from 12 seconds to 6 seconds. The plan is planned to be included in the Glamsterdam upgrade at the end of 2026. Technical adjustments include compressing the block proposal time from 4 seconds to 3 seconds, and the verification time from 4 seconds to 1.5 seconds, which can save 6 seconds of delay overall. Analysis shows that after the speed-up, DeFi transaction confirmation will be more efficient and the arbitrage opportunity window will be shortened, but it may put pressure on network bandwidth and low-configuration verification nodes. If successfully implemented, Ethereum's Gas limit is expected to increase by 3 times, and the blob supply may reach 8 times the current level. The proposal is currently in the early discussion stage and needs to pass rigorous testing to avoid smart contract compatibility issues.
Celestia co-founder Mustafa Al-Bassam posted on the X platform that despite the current FUD, all Celestia founders, early employees and core engineers are sticking to their posts, and their work enthusiasm is no different from when the project was founded five years ago. He said frankly that even if someone spreads ridiculous FUD remarks such as Celestia being the initiator of the 9-11 incident, he doesn't care. Mustafa said that he has been in the encryption field since 2010 and knows that the industry needs a strong heart and stress resistance to survive. After all, all tokens will experience a 95% decline in their life cycle. Mustafa emphasized: "We have more than $100 million in reserves, enough to support more than 6 years of operation, and we are ready for a protracted war."
Important data
NEWT rose 38.2% in a short period of time, possibly due to the listing of Upbit
According to Binance Futures, NEWT rose 38.2% in a short period of time, and is now quoted at $0.408, possibly due to the listing of Upbit. According to previous news, Upbit will list Newton Protocol (NEWT)'s KRW, BTC and USDT trading markets.
A suspected ConsenSys-related address purchased another 3,704 ETH worth $8.91 million
According to Lookonchain monitoring, 20 minutes ago, a whale/institution (possibly related to ConsenSys) purchased another 3,704 ETH (worth $8.91 million) through Galaxy Digital OTC transactions. In the past three weeks, the party has purchased a total of 161,112 ETH (worth $422 million) through Galaxy Digital OTC transactions.
Data: Russians hold over $25.4 billion in cryptocurrencies
According to Bitcoin.com, Vasily Girya, CEO of GIS Mining, a mining data center operator, said at the St. Petersburg International Economic Forum (SPIEF-2025) that according to its statistics, by the first half of 2025, the total value of crypto assets held by Russian citizens and institutions is expected to exceed 2 trillion rubles (about 25.4 billion U.S. dollars). Data shows that driven by energy advantages and policies, the country's institutional investors are continuing to expand the scale of Bitcoin mine orders, and industrial-grade mining facilities are accelerating expansion. Analysts pointed out that this growth reflects that Russia regards crypto assets as a strategic investment category and strengthens its global mining position through low-cost electricity. Despite the fluctuations in the international regulatory environment, the country's institutions are still optimistic about the long-term profit potential of digital assets, and major financial groups are systematically increasing their allocation of crypto assets.
Financing
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. Canton Network is centered on configurable privacy.
On-chain commodity derivatives exchange Sphinx completes $2 million pre-seed round of financing
According to official news, the institutional-level on-chain commodity derivatives exchange 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, and Andrew Durgee, Stefan Rust, Zachary Keats, etc. According to reports, Sphinx is an institutional-level commodity derivatives exchange based on its own permissioned Layer1 blockchain. It provides 24/7 direct access to futures, options, and perpetual contracts for oil, natural gas, and other energy commodities.
According to Bloomberg, Patrick Horsman, Joshua Kruger and Johnathan Pasch, former executives of hedge fund Coral Capital Holdings, are promoting a $100 million fundraising plan to invest in Binance platform currency BNB through the Nasdaq-listed company they control. The team plans to rename the listed company to Build & Build Corporation after completing the fundraising this month and start building BNB reserves. This will become the first listed company to use BNB as a core reserve asset. Earlier yesterday, CZ responded to the expansion of the BNB market, emphasizing that BNB has no direct connection with Binance.
New crypto venture fund Frachtis closes $20 million
According to The Block, the former Chorus One executive team has established a new crypto venture capital fund, Frachtis, which focuses on the intersection of blockchain and artificial intelligence and has raised $20 million. Frachtis will invest in decentralized infrastructure, middleware and consumer applications, and has currently deployed eight projects including Hyve, Turtle.Club and Bless network. The fund's limited partners include Chorus One, cyber•Fund, RockawayX and Theta Blockchain Ventures.
MegaETH-based DEX GTE completes $15 million Series A financing, led by Paradigm
According to The Block, Paradigm, a well-known crypto venture capital firm, exclusively led the $15 million Series A financing of GTE, a decentralized exchange startup. GTE calls itself "the world's fastest decentralized exchange," and its founding team said that the platform uses a centralized limit order book (CLOB) mechanism, and the transaction delay is on par with centralized exchanges such as Binance and Coinbase, while maintaining decentralized characteristics. GTE aims to solve the problems of "blind trust" in centralized exchanges and high latency and high costs of traditional DEXs. The platform has been built on the EVM-compatible MegaETH blockchain, and the test network has attracted about 700,000 users. Previously, GTE has received a total of $10 million in investment through three rounds of financing.
YZi Labs participates in Blueprint Finance’s $9.5 million funding round
Founded in 2023 by Nic Roberts-Huntley and Dillon Liang, Blueprint Finance is committed to simplifying the process for cryptocurrency holders to participate in DeFi (decentralized finance) lending. The company has currently launched two products, Concrete and Glow, covering the Ethereum and Solana ecosystems respectively, to help investors borrow and manage digital assets more conveniently. The new funds will be used for team expansion, technology research and development, and market promotion.
Institutional holdings
According to FNG, Vinanz Limited, a bitcoin fund management company listed on the London Stock Exchange, announced that it had increased its holdings of 37.72 bitcoins, with the purchase being facilitated by Fidelity Digital Assets. The company’s total bitcoin holdings now stand at 58.68.
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 company's total holdings now stand at 543.52 bitcoins.
Hong Kong listed company Yuxing Technology disclosed that it has sold 1,220 ETH in the past year
According to Zhitong Finance, Hong Kong listed company Yuxing Technology announced that from August 4, 2024 to June 23, 2025, the group sold 1,220 units of Ethereum in the open market at an average price of US$2,814 per unit, with a total cost of US$3.4 million (equivalent to HK$26.8 million). From August 4, 2024 to January 17, 2025, the 785 units of Ethereum sold were converted into 2.4 million units of USDT.
According to Bloomberg, Hong Kong multi-family office VMS Group plans to allocate no more than $10 million to strategies operated by decentralized hedge fund Re7 Capital (the allocation size has not yet been finalized), marking the first foray into the crypto space for the wealth management firm, which manages nearly $4 billion in assets. VMS managing partner Elton Cheung said the move is aimed at addressing the decline in liquidity in traditional private equity while responding to clients' growing demand for digital assets. Zhi Li, head of VMS London, added that the group is exploring the integration of crypto payments into its controlled Vietnamese real estate projects and has observed a strong interest among the younger generation of family members in compliant digital asset allocations.
According to an official announcement, European listed company The Blockchain Group confirmed that the previously announced “ATM-style” capital increase plan with TOBAM on June 17 has been finalized, with a total capital increase of approximately 7.2 million euros, and the funds were used to purchase 75 bitcoins at a price of approximately 6.9 million euros. The company currently holds a total of 1,728 bitcoins, which is worth approximately 155.8 million euros at an average price of approximately 90,155 euros per bitcoin.
According to Investing.com, ECD Automotive Design (ECDA), the world's largest Land Rover and Jaguar retro modification company, announced that it has signed an equity financing agreement of up to US$500 million with ECDA Bitcoin Treasury LLC. The company plans to use the funds to advance its Bitcoin reserve strategy and support business growth and general corporate purposes. ECD will also provide the first batch of
