Today's news tips:
Deribit: $17 billion in crypto options will expire this Friday
A whale deposited 1,141 BTC into Binance in the past hour, worth more than $120 million
NYSE Arca Files 19b-4 Filing for Truth Social Bitcoin and Ethereum ETFs
Binance Alpha to List XOCIETY (XO) on June 26
Sahara AI announces SAHARA token economic model, airdrop accounts for 8.15%
Regulatory/Macro
According to a report by the local news media Economic Review, eight major banks in South Korea are preparing to set up a joint venture to issue Korean won stablecoins. The participating banks include Kookmin Bank, Shinhan Bank, Woori Bank, Nonghyup Bank, Korea Development Bank, Suhyup Bank, Citibank Korea Branch and Standard Chartered Bank Korea Branch. The project is jointly developed by the bank and the Open Blockchain and Decentralized Identifier Association and the Korea Financial Telecommunications and Clearing Agency. At present, the relevant parties are still discussing the common infrastructure. If the supervision allows, the joint venture is expected to be officially launched at the end of this year or early next year. At present, the project team is considering two stablecoin issuance models, one is the trust model, which first trusts the customer funds separately and then issues stablecoins; the other is the deposit token model, which links stablecoins to bank deposits.
Guotai Junan International's afternoon increase expanded to 100%
According to Jinshi.com, Guotai Junan International (01788.HK) increased its share price again to 100% in the afternoon. Earlier, it was reported yesterday that Guotai Junan International was approved to provide virtual asset trading services such as cryptocurrencies.
Coinbase CEO Brian Armstrong posted on the X platform: "Coinbase is providing cryptocurrency integration service support to about 200 banks, brokerages, fintech companies and payment institutions. If you want to integrate encryption functions into your company or organization, please contact Coinbase for communication and cooperation."
Arizona passes Bitcoin Reserve Bill HB2324
According to Bitcoin Laws, Arizona passed the "Bitcoin Reserve" bill HB2324. The bill establishes a reserve fund to confiscate assets obtained through criminal asset forfeiture. If signed by Governor Hobbs, this will be the second reserve bill passed in the state.
According to Bitcoin.com, on June 24, the U.S. Treasury Department issued a joint statement from the U.S.-UK Financial Regulatory Working Group, and the two sides reached an important alliance to strengthen the regulation of digital assets and reshape the financial market. On June 3, multiple departments of the United States and the United Kingdom held their 11th meeting in London to conduct in-depth discussions on digital finance and innovation. The discussion showed that the two governments are working together to promote the legislation of stablecoins and digital securities to unify regulatory standards. The two sides exchanged digital asset regulatory priorities and legislative progress, and the UK shared the dynamics of the digital securities sandbox and discussed strategies to promote cross-border innovation. The authorities emphasized the significance of effective supervision for financial stability and growth, and will continue to cooperate through global organizations. In addition, the artificial intelligence regulatory framework has attracted attention, and the two sides are committed to balancing innovation and security. In terms of capital markets, the United Kingdom and the United States respectively elaborated on plans to adjust settlement cycles and listing rules. The working group agreed to meet again before the beginning of 2026 and maintain an open dialogue.
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.
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.
Viewpoint
Li Bo, deputy managing director of the International Monetary Fund (IMF), said at the 2025 Summer Davos Forum that the development of stablecoins presents both opportunities and challenges. The core challenge is how to effectively regulate stablecoins. At present, there have been many practical explorations and regulatory attempts on stablecoins around the world, but this is just the beginning. There are still many questions to be answered, and more consensus needs to be reached globally.
According to crypto KOL AB Kuai.Dong (@_FORAB), the plans of Guotai Junan International and Futu to enter the cryptocurrency circle still adopt the broker intermediary model, and the underlying technology is supported by Hashkey. It is reported that Guotai Junan International requires users to hold overseas long-term visas, while Futu requires users to have Hong Kong or overseas identity documents. In addition, Hashkey platform currency HSK rose 37.1%, and is now quoted at $0.6732, with a maximum increase of $0.7. Earlier news, Guotai Junan International was approved to provide virtual asset trading services such as cryptocurrencies.
Morgan Stanley said it expects the Federal Reserve to cut interest rates seven times through 2026, eventually bringing rates to 2.5% to 2.75% starting in March.
Zhao Changpeng's team responded to the rumor of "Zhao Changpeng's pardon": the news is false
In response to a media report today that "Trump has approved a pardon for Zhao Changpeng," Zhao Changpeng's team responded: "This is false news. We will keep you updated as soon as there is any news."
Project News
In the first phase, holders of 230 Binance Alpha Points can receive 1,600 H tokens airdrop
Binance announced that it has become the first platform to list Humanity Protocol (H). Related transactions will be open for spot trading at 17:00 on June 25th, Beijing time, and for contract trading at 17:30. Eligible users can claim the airdrop reward of 1,600 H tokens through Binance Alpha Points on the Alpha Events page within 24 hours after the transaction is opened. This airdrop event is divided into two phases: Phase 1 (first 18 hours): users must hold at least 230 Binance Alpha Points to claim the airdrop; Phase 2 (last 6 hours): users must hold at least 180 Binance Alpha Points, and claim them on a first-come, first-served basis until the airdrop pool is distributed or the event ends.
Binance Alpha to List XOCIETY (XO) on June 26
Binance announced that its Alpha platform will be the first trading platform for XOCIETY (XO), and trading will start on June 26, the specific time is to be announced. Eligible users need to use Binance Alpha Points to claim the airdrop rewards on the Alpha event page, and the specific details will be released on June 26.
Binance will remove KAITO/BNB, KAITO/BRL, and ZIL/BTC spot trading pairs
According to the official announcement, Binance will remove the following spot trading pairs and stop trading at 11:00 (Eastern Time) on June 27, 2025: KAITO/BNB, KAITO/BRL, ZIL/BTC. Note: BRL is a legal currency code, not a digital currency code.
GoPlus: Venus Protocol was suspected of being attacked, with a loss of about $2 million
GoPlus issued a security alert stating that the lending protocol Venus Protocol on BNB Chain was suspected to have been attacked, resulting in a loss of approximately US$2 million. The stolen assets included a large number of vTokens (such as vUSDT). The cause of the attack was related to MEV and permission management vulnerabilities.
Binance Alpha to List Moonveil(MORE)
According to the official announcement, Binance Alpha will list Moonveil (MORE). Alpha trading will be open at 20:00 (UTC+8) on June 27, 2025. Eligible users can go to the Alpha event page to use Binance Alpha points to claim the airdrop after Alpha trading is open. Details will be announced on the trading day.
According to Lookonchain monitoring, the Melania meme team has sold a total of 82.18 million MELANIA (8.22% of the total supply) through 44 wallets in the past four months, cashing out 244,934 SOL (worth $35.76 million). Most of the MELANIA tokens were sold by adding and removing liquidity.
Sahara AI announces SAHARA token economic model, airdrop accounts for 8.15%
According to official news, Sahara AI announced the economic model of its native token SAHARA. 64.25% of the total supply will be used for community and ecological development, including 33.93% for ecosystem construction, 20.75% for community incentives, 8.15% for airdrops, and 1.42% for distribution through the Buidlpad community. The remaining distribution includes: 15% for core contributors, 19.75% for early supporters, and 1% for liquidity and market stability. In addition, Sahara AI announced that it will provide "Knowledge Airdrop" for early contributors. 5% of the total SAHARA token supply and exclusive cash rewards have been reserved for early contributors of the entire Sahara AI ecosystem. The collection of "Knowledge Airdrop" will only be carried out on BSC to ensure smooth progress. The official collection page is now online and the application will be open at 20:00 on June 26, Beijing time.
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.
Important data
Deribit: $17 billion in crypto options will expire this Friday
According to official news from Deribit, more than $17 billion worth of crypto options will expire on its platform this Friday, which is one of the largest quarterly events in the first half of 2025.
According to BusinessLIVE, the average daily trading volume of US dollar stablecoins has exceeded $100 billion since June, significantly exceeding the trading volume of Bitcoin and Ethereum. According to the first quarter reports of Tether and Circle, it can be inferred that among the total $250 billion of US dollar stablecoins, US Treasuries account for at least 80% of the reserve assets, which is equivalent to an additional $200 billion in demand for US Treasuries. Standard Chartered Bank predicts that by 2028, the size of the stablecoin market will drop to $2 trillion, corresponding to a demand for US Treasuries of $1.2 trillion to $1.6 trillion, and stablecoin issuers will become the second largest buyer of US Treasuries after the Federal Reserve.
A whale deposited 1,141 BTC into Binance in the past hour, worth more than $120 million
According to Lookonchain monitoring, the whale bc1qr9 deposited all the remaining 1,141 BTC (worth $121.27 million) into Binance in the past hour, realizing a profit of about $3.4 million. The whale purchased 1,721 BTC (worth $179 million) at an average price of $104,113 on May 11 and May 12.
According to SoSoValue data, yesterday (June 24, Eastern Time), the total net inflow of Bitcoin spot ETFs was US$589 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF IBIT, with a single-day net inflow of US$436 million. Currently, the total net inflow of IBIT has reached US$51.652 billion. The second is Fidelity ETF FBTC, with a single-day net inflow of US$85.1641 million. Currently, the total net inflow of FBTC has reached US$11.647 billion. As of press time, the total net asset value of Bitcoin spot ETFs is US$130.283 billion, and the ETF net asset ratio (market value to total Bitcoin market value) is 6.18%, and the historical cumulative net inflow has reached US$47.595 billion.
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.
Financing
DeFi Infrastructure Company Yield.xyz Raises $5 Million in Strategic Funding from Multicoin Capital
DeFi infrastructure company Yield.xyz has received $5 million in strategic financing from Multicoin Capital. The company was formerly known as Omni, a multi-chain wallet established in 2021. After being acquired by Paxful's parent company Echo Base this year, it transformed into a yield aggregation platform. Yield.xyz integrates more than 200 Solana ecosystem revenue sources through a unified API, providing plug-and-play DeFi revenue functions for wallets and crypto applications such as Ledger. In the future, it plans to expand to traditional fintech companies such as new banks and develop automated revenue strategy functions.
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.
Institutional holdings
According to VentureCapitalJournal, Sentinel Global, a venture capital firm headquartered in San Francisco, announced that its first fund has completed fundraising of US$213.5 million. The main areas of investment of the fund include privacy security, financial Internet, open finance and open social related technologies, blockchain and decentralized networks, etc. It is reported that Sentinel Global has currently invested in about 10 companies, including encryption chip company Ingonyama, identity issuance protocol Kudo Money, decentralized data and identity protection platform Via Science, etc. The new fund will focus on startups in the A to C rounds.
British listed company TAO Alpha plans to raise £100 million to support its Bitcoin financial policy
According to Morningstar, TAO Alpha PLC, a British listed company, announced that it has launched a second convertible loan after obtaining a fixed-price convertible loan of 5 million pounds, and is expected to raise at least 100 million pounds. Blockchain and digital asset investment company ParaFi Capital LP will participate in the investment and provide an initial 20 million pounds. It is reported that TAO Alpha has established a subsidiary Tao Alpha PTE. LTD in Singapore to manage fund assets. Its new financial policy focusing on Bitcoin allows up to two-thirds of cash reserves to be allocated to Bitcoin and stablecoins. The latest financing terms are expected to be determined in mid-July.
According to tipranks, Belgravia Hartford Capital Inc., a Canadian listed company, announced the launch of a private placement of 10 million Canadian dollars (about 7.3 million US dollars), planning to issue 40 million units of securities (each unit contains 1 common share and 0.5 warrants). The funds raised will be used to increase Bitcoin holdings to strengthen the company's cryptocurrency reserves. This issuance involves related-party transactions and requires approval from regulatory authorities.
Japanese public company Metaplanet raises $517 million to buy more Bitcoin
According to Cointelegraph, Japanese listed company Metaplanet raised $517 million to buy more Bitcoin.
UK-listed medical device company TruSpine Technologies plc (AQSE:TRUP) announced on Wednesday that it is pursuing a Bitcoin fiscal policy to supplement its traditional cash reserves. The company plans to strategically allocate funds from future financing activities to build a Bitcoin position, which the directors believe is a tool to hedge against inflation and geopolitical events. The company is currently exploring financing opportunities to initiate a Bitcoin purchase project.
British listed company Amazing AI announces adoption of Bitcoin fiscal policy
British listed company Amazing AI plc (AQSE: AAI), a global fintech group focused on online consumer lending, announced on June 24 that it has adopted a Bitcoin treasury policy, marking a strategic shift towards incorporating Bitcoin into its balance sheet. The company plans to gradually build up a Bitcoin treasury using operating funds and upcoming financing. The first Bitcoin acquisitions are expected to begin in July 2025.
Deep-sea mining company Green Minerals completes first Bitcoin purchase, buys 4 Bitcoins
Deep-sea mineral mining company Green Minerals announced today that it has completed its first Bitcoin purchase, purchasing four Bitcoins for a total consideration of approximately 4.25 million Norwegian kroner. Earlier on June 23 , Green Minerals planned to raise $1.2 billion with its partners, of which the Bitcoin treasury strategy is a core component.
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.
