Today's news tips:
Spanish bank BBVA launches Bitcoin and Ethereum trading and custody services for retail clients
Hong Kong Treasury Secretary: Aim to issue stablecoin licenses this year
Binance to add watch tags for BAKE, IDEX, and SLF
Babylon plans to launch the Bitcoin multi-staking testnet in Q3, and the mainnet in Q4
Regulatory/Macro
Guojin Securities is preparing to apply for a virtual asset-related trading license
Guojin Securities, a Hong Kong-listed company, revealed on an interactive platform that its subsidiary Guojin Securities Co., Ltd. is preparing to apply for virtual asset-related trading licenses and has communicated with relevant international and Hong Kong institutions many times. Guojin Securities Co., Ltd. currently holds business licenses No. 1, No. 2, No. 4, No. 6 and No. 9 issued by the Hong Kong Securities and Futures Commission, covering securities trading, futures trading, securities and institutional financing consulting, asset management and other fields. The company plans to further enhance its service capabilities through overseas business expansion.
Hong Kong-listed Jinyong Investment Co., Ltd. (01328) announced that it has signed a strategic cooperation framework memorandum with digital currency solution provider AnchorX. The two parties will explore cooperation in cross-border payments, stablecoin applications, digital asset transactions and blockchain technology investment. AnchorX issued the stablecoin AxCNH pegged to the offshore RMB, aiming to reduce international payment costs and promote the internationalization of the RMB. Jinyong Investment said that this cooperation will help it expand the potential of the cryptocurrency market and enhance the integration of traditional finance and Web3. At present, the two parties have not signed a formal agreement with legal effect, and relevant progress will be announced separately.
Spanish bank BBVA launches Bitcoin and Ethereum trading and custody services for retail clients
Spanish banking giant BBVA announced the launch of Bitcoin and Ethereum trading and custody services for local retail customers, which users can directly operate through the bank's mobile app. This service complies with the EU's Crypto Asset Market Regulation (MiCA), marking BBVA's third country in the world to provide cryptocurrency services after Switzerland and Turkey. Earlier news, Spanish bank BBVA recommended wealthy customers to invest in Bitcoin.
According to 100y.eth, head of research at Four Pillars, a South Korean Web3 research institute, South Korea is currently experiencing a stablecoin bubble, and there is no clear guidance on regulation. Almost every day, financial news reports that a bank or company has applied for a stablecoin-related trademark. Once a listed company applies for a related trademark, its stock price usually rises by 15%-30% on the same day. Companies that have applied for stablecoin trademarks include Toss Bank, Viva Republica, Shinhan Financial Group, NHN KCP, Kakao Pay, KB Kookmin Bank and many other financial and technology giants. In addition, Korean investors' interest in stablecoins has also extended to the international market. Data shows that $CRCL became the most purchased foreign stock by Korean investors in June, with a net inflow of US$410 million.
According to the Wuxi public account, Wuxi Municipal Party Committee Secretary Du Xiaogang presided over a special meeting to promote the city's key reform tasks. The meeting required that the whole city should use reform thinking and reform methods to "resolve pain points", "unblock blockages" and "solve difficult points" to continuously release the driving force and vitality for stable growth of foreign trade, explore practical paths for stable currencies to empower foreign trade development, continuously expand the growth space of digital trade, green trade, and service trade, and improve the development level of cross-border e-commerce, intermediate product trade, and offshore trade.
Hong Kong Treasury Secretary: Aim to issue stablecoin licenses this year
According to Jinshi.com, the Stablecoin Ordinance of Hong Kong, China, will come into effect in August. The Director of the Hong Kong Treasury Bureau, Xu Zhengyu, said that the HKMA is currently consulting the market on the implementation of the guidelines for the regulations. The guidelines will be announced within this month. The specific content will involve anti-money laundering and other related requirements. He also stated that the number of stablecoin licenses approved will be in the single digits. He hopes to receive applications after the regulations come into effect, and the goal is to issue licenses within this year. As for whether financial institutions can issue stablecoins pegged to the RMB after obtaining licenses, he said that if it involves currencies in other jurisdictions, it will be discussed with relevant institutions.
Viewpoint
Michael Zezas, head of global fixed income and thematic research at Morgan Stanley, released a research report pointing out that although the market generally expects that the US tariff policy will not escalate further, there are still many possibilities at the key node of the expiration of the tariff suspension period on July 9, and investors need to be prepared for different situations. Morgan Stanley analyzed three potential scenarios: Extension strategy: The White House may extend the suspension period and announce an agreement with some trading partners, while reserving the possibility of raising tariffs on other countries. The EU and Japan are expected to maintain the current 10% base tariff rate. Tactical escalation: If the negotiations fail, the United States may selectively re-impose tariffs and delay implementation to leave room for negotiations. The EU and Japan may face a tougher stance. Mild scenario: The United States may announce a regional or bilateral framework agreement, indicating that the tariff level tends to be lower, reducing the uncertainty of recent import costs. Morgan Stanley emphasized that tariff policy remains a key variable in the market, and an aggressive tariff path may increase the downside risks of the economic outlook and affect GDP growth expectations for 2025/2026. Investors need to pay close attention to this important date of July 9.
CryptoQuant analyst Axel Adler Jr pointed out that according to the chart, every time the 30-day percentile funding rate of major exchanges dropped to about 50% (green circle marks: September 2023, May 2024, September 2024 and April 2025), the market reached a stage bottom and then ushered in an upward trend. The most recent bottom occurred in April 2025, after which the price of Bitcoin rebounded to $112,000. The current funding rate percentile
Zhao Changpeng: Binance achieved a profit of about $1 billion in its first year
In a recent interview hosted by Anthony Pompliano, Zhao Changpeng revealed that Binance achieved a profit of about $1 billion in its first year, and may become the first company to achieve a profit of $1 billion from the start-up stage. Zhao Changpeng said that these profits were mainly realized in the first 3 to 8 months after the company went online, especially in the 3rd to 7th month, when Binance's trading volume reached its peak. He added that although some companies have reached a valuation of $1 billion faster, from a profitability perspective, Binance may be the startup that has achieved this goal the fastest.
According to the Jinshi Transfer Observer Network, on July 6 local time, US President Trump wrote on the "Real Social" platform: "Any country that aligns with the BRICS' anti-American policies will be subject to an additional 10% tariff. There will be no exceptions to this policy. Thank you for your attention to this issue!" He did not explain or elaborate on the "anti-American policy" mentioned in the post.
According to Jinshi, Trump said on Sunday that some trade agreements have been reached with trading partners and that he will write to other countries to inform them that tariff rates will increase. U.S. Commerce Secretary Lutnick told reporters that higher tariffs will take effect on August 1, but Trump is "working on rates and agreements now." In April, Trump announced a 10% basic tariff on most countries, as well as additional tariffs of up to 50%, although he later postponed the effective date of tariffs on all countries to July 9 (except the 10% tariff). Lutnick's remarks hinted at a three-week tariff "reprieve." U.S. Treasury Secretary Bensont previously made similar remarks, saying that countries that have not reached an agreement will face tariffs from August 1, but denied that the date is a "new deadline."
UAE authorities clarify: Golden Visa eligibility does not include cryptocurrency investors
According to WAM, the UAE Federal Authority for Identity, Citizenship, Customs and Ports (ICP), Securities and Commodities Authority (SCA) and Virtual Asset Regulatory Authority (VARA) jointly issued a statement denying reports circulating on certain websites and social media platforms that the UAE grants golden visas to digital currency investors. ICP said that the issuance of golden visas is based on a clear and officially approved framework and standards, which does not include digital currency investors. Those who meet the conditions include real estate investors, outstanding talents, etc. SCA reiterated that financial regulation is in accordance with international standards, and digital currency investment has specific regulations and has nothing to do with golden visas. Investors are reminded to obtain information from official channels. VARA also denied that Dubai issued golden visas to virtual asset investors, urged investors to only work with regulated companies, and clarified that TON was not licensed by them. The three parties called on the public to be cautious and refer to official channels for information. Earlier yesterday, Toncoin cooperated with the UAE to provide 10-year golden visas to TON pledgers.
Project News
Viction officially announced that its network is currently experiencing synchronization issues with multiple full nodes, resulting in a temporary interruption of on-chain services and affecting user experience. The technical development and infrastructure teams have been urgently involved and are working hard to troubleshoot the problem and find a solution. According to Binance market data, VIC briefly touched $0.29, up 74.87% in 24 hours, and is now quoted at $0.267. Earlier news, the blockchain platform TomoChain was renamed Viction, and its token TOMO will be renamed VIC.
Binance will launch MUSDT perpetual contract with a maximum leverage of 50 times
Binance Futures announced that it will launch MUSDT perpetual contracts at 17:30 Beijing time on July 7, 2025, with a maximum leverage of 50 times. In addition, Binance Alpha Market has launched M.
According to data shared by Sunil, a representative of FTX creditors, there are still about $1.4 billion in FTX's debt distribution that is unresolved. Among them, the amount of debt in restricted areas is $470 million, and Chinese creditors account for the largest share, holding $380 million, accounting for 82% of restricted debt. In addition, the amount of Bahamian debt that has not yet completed KYC certification is $290 million, and the total amount of disputed debts is $660 million. At present, FTX expects the total amount of debt allowed to be approximately $11 billion. Earlier news, FTX applied to the court for the implementation of the "restricted processing procedure", and China and other regions may lose their claims.
Binance to add watch tags for BAKE, IDEX, and SLF
According to the official announcement, based on the recent review, Binance will add watch tags to BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) on July 7, 2025. Watch tag tokens may have higher volatility and risk than other listed tokens. We will closely monitor and continue to review. Please be aware that trading these watch tag tokens is risky. These tokens no longer meet the standards when they were listed on our platform and may be delisted. Users need to pass the test on Binance spot and/or Binance leverage platform every 90 days and accept the terms of use before they can obtain trading rights for watch tag tokens.
Babylon plans to launch the Bitcoin multi-staking testnet in Q3, and the mainnet in Q4
Bitcoin staking protocol Babylon announced its 2025 roadmap, planning to launch a Bitcoin multi-staking testnet in the third quarter of this year. The first batch will integrate ETH Rollups and Cosmos sovereign chains, and will also launch the Genesis EVM testnet. The Bitcoin multi-staking mainnet and Genesis EVM mainnet will be launched in the fourth quarter of 2025. Bitcoin liquidity applications are planned to be launched in the first quarter of 2026.
Jack Dorsey launches decentralized peer-to-peer chat application BitChat
Block CEO Jack Dorsey announced the launch of the decentralized peer-to-peer chat application BitChat. He wrote on the X platform: "I did a project over the weekend to learn about Bluetooth mesh networks, relay and store-and-forward modes, message encryption models, and other things. BitChat: Bluetooth mesh chat... with IRC style." According to its self-reading file on GitHub, BitChat is a secure, decentralized peer-to-peer chat application.
Important data
According to The Block, LetsBONK, the Meme coin launch platform on the Solana chain, surpassed Pump.fun for the first time in terms of daily token issuance, number of graduated tokens, and trading volume. Adam_Tehc, creator of the Dune dashboard, pointed out that LetsBONK's token issuance was already ahead within 24 hours from Sunday morning; by Sunday afternoon, the gap had widened further, with LetsBONK recording about 15,600 token issuances and Pump.fun 11,500. Data shows that on Sunday afternoon, LetsBONK's market share reached 49.80%, while Pump.fun's was 40.90%. LetsBONK's 24-hour trading volume increased by $86 million, but Pump.fun had more than twice as many active traders as LetsBONK.
Institutional holdings
The listed company Hilbert Group announced that it has obtained over 200 million Swedish kronor in long-term financing from its US institutional partners. Part of the funds will be used to support its crypto asset library strategy, focusing on promoting the application of Bitcoin in the European corporate market. The company plans to launch a transparency dashboard to display the holdings of the crypto asset library in real time. CEO Barnali Biswal said that this financing reflects the market's recognition of Hilbert as a European listed digital asset company. Earlier news, the listed company Hilbert Group launched a comprehensive crypto fund strategy with Bitcoin as the main reserve asset.
Smarter Web Company increased its holdings by 226.42 BTC, bringing its total holdings to 1,000
According to an official announcement, Smarter Web Company, a British listed company, announced today that it has purchased another 226.42 BTC and currently holds a total of 1,000 bitcoins.
Metaplanet increased its holdings by 2,205 bitcoins, bringing its total holdings to 15,555 bitcoins
According to official news, Metaplanet, a Japanese listed company, once again spent $238.7 million to increase its holdings of 2,205 BTC, with an average purchase price of $108,237. The BTC yield has reached 416.6% so far in 2025. As of July 7, the company's total holdings reached 15,555 BTC, with a total purchase price of approximately $1.54 billion and an average purchase price of $99,307.
