Today's news tips:
Circle's U.S. stock rose nearly 13% before the market opened, temporarily reporting $225.78
Airwallex founder says it’s time to short Circle
Insider: Revolut is actively exploring issuing its own stablecoin
Bitcoin on-chain transaction volume hits 18-month low, Runes and Ordinals craze fades
Regulatory/Macro
The Securities and Exchange Commission of Thailand (SEC) announced the launch of a public consultation on new rules for the listing of digital assets, which will last until July 21, 2025. The new rules propose that exchanges be allowed to list digital tokens issued by themselves or their affiliates, while requiring stricter information disclosure to prevent insider trading. The new rules also require the disclosure of information about people related to the token issuer and the marking of warning symbols in the reporting system to strengthen market supervision.
Viewpoint
According to the Matrixport report, Bitcoin ETFs attracted over $45 billion in inflows, with an average monthly inflow of $2.6 billion, and strong demand from institutions and enterprises. However, the price of Bitcoin stagnated around $105,000, and the number of new wallet addresses also stabilized. The report pointed out that the market supply is being absorbed by a small number of investors with strong funds, retail capital inflows are limited, and whale accounts and institutional funds dominate the market. Future price trends may face a key test.
Ricardo Salinas Pliego, the third richest man in Mexico and founder of Grupo Salinas, recently said that he has significantly increased his Bitcoin holdings again, and currently about 70% of his portfolio is BTC. He sees the current price correction as a "buying opportunity" and emphasizes that Bitcoin is a long-term asset to fight inflation and fiat currency depreciation. Pliego said that he may "fully invest in crypto assets" in the future.
Ant Financial: Only communicated with Hainan Huatie on RWA, no cooperation was reached
Ant Digits’ WeChat official account released a statement to refute the rumors. Ant Digits and Hainan Huatie only had very preliminary and exploratory exchanges on RWA, and did not reach any form of formal cooperation agreement, business arrangement or substantive project implementation. In addition, some companies in the market have recently hyped up hot concepts such as "RWA" and "stablecoins", implying false cooperation with Ant Digits. Investors and partners are requested to carefully identify market rumors and pay attention to investment risks. At the same time, Ant Digits also stated that it reserves the right to pursue legal responsibility for any unauthorized use of our company's name for improper publicity. Ant Digits is committed to compliance innovation, and any important progress will be disclosed in a timely manner through official channels.
Airwallex founder says it’s time to short Circle
Jack Zhang, founder and CEO of corporate payment and financial platform Airwallex, posted on X (formerly Twitter) that “It’s time to short Circle…”
Insider: Revolut is actively exploring issuing its own stablecoin
According to Decrypt, London-based new bank Revolut is actively exploring the issuance of its own stablecoin. People familiar with the matter revealed that Revolut has started cooperation talks with at least one crypto-native company. In recent years, with the changes in the regulatory environment in the United States and around the world, more and more non-crypto companies have begun to consider issuing stablecoins. Revolut currently has more than 55 million retail customers and 500,000 corporate customers in 160 countries around the world.
Circle's U.S. stock rose nearly 13% before the market opened, temporarily reporting $225.78
Circle's US stock rose nearly 13% in pre-market trading, temporarily closing at $225.78. Earlier on Wednesday, Circle's (CRCL.N) stock price broke through $200, closing up 34.25%. Earlier, the founder of Airwallex said: It's time to short Circle.
Project News
Dawn Wallet will be phased out in the coming weeks and join the Worldcoin Core Development Body
Dawn Wallet announced that it has joined Tools For Humanity, a core development organization of Worldcoin, and is committed to introducing the next generation of crypto financial tools to the World Network. In this transition, Tom Waite and Isaac Rodriguez, founders of Dawn Wallet, will join the Tools For Humanity team to focus on promoting advanced financial capabilities in the World App. At the same time, Dawn Wallet will be gradually shut down in the next few weeks and provide support for user asset transfers.
Kroma L2 network will be shut down on June 26, $KRO needs to be migrated to Ethereum
Kroma announced that its L2 network will be officially shut down on June 26, 2025. $KRO token holders need to migrate their tokens from Kroma L2 to the Ethereum mainnet (L1) before this date. After the migration is completed, $KRO will continue to be the main token of the upcoming Kroma Protocol.
Avail (AVAIL) has been officially launched on Binance Alpha. Eligible users can claim 2,667 AVAIL airdrop rewards through the Alpha Events page within 24 hours after trading is opened. This airdrop event is divided into two phases: Phase 1 (first 18 hours): Users with at least 243 Binance Alpha points can participate in the airdrop. Phase 2 (last 6 hours): Users with at least 199 Binance Alpha points can participate in the airdrop.
Binance: Alpha users with 238 points and above can participate in LOT TGE event
According to Binance Chinese, Binance Alpha users with 238 points or more can go to the Alpha event page to participate in the League of Traders (LOT) TGE event, which will consume 15 points.
Mango Network is about to launch TGE and airdrop, 5% of tokens will be fully unlocked
Mango Network, the Multi-VM full-chain infrastructure network, announced that it will soon launch the TGE and airdrop activities. Users can go to the official website to check the eligibility of $MGO tokens. This airdrop will allocate 5% of the total supply, and all tokens will be unlocked at once. Official reminder: the collection will be open after TGE, please be careful to prevent fraud. The airdrop is for testnet participants and active community contributors. Mango Points holders will receive airdrops according to their weight ratio.
Pipe to Launch Token Sale on CoinList to Build a Decentralized CDN Network
According to the CoinList announcement, Pipe Network will launch the PIPE token sale at 01:00 (Beijing time) on June 27, 2025, and the sale period will last until July 4. This sale will total 30 million PIPEs, accounting for 3% of the total supply. Two subscription options are supported. Option 1 is valued at US$250 million, 100% unlocked at TGE, and is limited to non-US users; Option 2 is valued at US$200 million, unlocked one year after TGE, and both US and non-US users can participate. The subscription threshold for a single account is $100, up to $2.5 million, and supports USDT/USDC. The project is built on Solana, focusing on a decentralized content distribution network (CDN), which aims to replace centralized servers with community nodes to improve global network performance. A total of 3% of tokens were released in this round of public sales, and investors behind it include Multicoin Capital and Solana Ventures.
According to Decrypt, Plasma, a Bitcoin sidechain project focusing on stablecoins, plans to launch its mainnet in late summer 2025, with the main goal of being "the first stablecoin chain". The public pre-sale of its XPL tokens will start at least 40 days in advance, and has raised $1 billion in deposits. Plasma emphasizes that it will optimize the stablecoin transfer experience, including gas-free transactions, and has attracted support from PayPal co-founder Peter Thiel and others. The chain is EVM-compatible and will focus on stablecoin payments, not involving ecosystems such as meme coins or RWA.
Important data
Bitcoin on-chain transaction volume hits 18-month low, Runes and Ordinals craze fades
According to The Block, Bitcoin on-chain transaction activity has fallen to its lowest level in a year and a half, with the 7-day moving average transaction volume falling to 316,000 last week and currently recovering slightly to about 350,000, far below the 700,000 peak in mid-2024. The speculative craze for Bitcoin native protocols such as Runes and Ordinals has subsided, and traders are turning their attention to other blockchain ecosystems. Since the beginning of the year, Bitcoin transaction fees have remained below $1.50, indicating that there is very little competition for block space and a return to traditional transfer purposes. Some users tried to initiate transactions at a fee of less than 1 sat/vB, and the mining pool MARA launched the "Slipstream" channel to process ultra-low-fee transactions, sparking controversy among Bitcoin developers about network standards and anti-censorship.
According to @EmberCN, citing on-chain data, investment institution Arca is suspected of investing in PENDLE again, withdrawing a total of 2.183 million PENDLE from Binance in the past 6 days, which is worth about $8.31 million at the then price of $3.8. Despite investing in the token three times in the past year, the comprehensive account still lost about $960,000.
Financing
DePIN project SparkChain AI completes $10.8 million financing, led by OakStone Ventures
According to AccessnewsWire, the DePIN project SparkChain AI announced the completion of a new round of financing of US$10.8 million, led by OakStone Ventures. The new funds will be used to support its expansion of the decentralized AI computing network and accelerate its launch on the Solana blockchain to develop a decentralized contributor network. SparkChain AI's decentralized artificial intelligence infrastructure supports the conversion of idle bandwidth and computing resources into AI computing power.
Project Eleven raises $6 million to develop tools to protect Bitcoin from quantum attacks
Project Eleven, a development company focused on post-quantum cryptography, has raised $6 million in funding, led by Variant Fund and quantum technology investment firm Quantonation. The funds will be used to develop tools to resist quantum computing attacks and protect the security of digital assets such as Bitcoin. The company's first product, the Yellowpages encrypted registry, has completed the Cure 53 audit, allowing users to bind existing Bitcoin addresses to new quantum-resistant addresses without relying on on-chain activity.
Institutional holdings
Helium Ventures raises around £4 million, plans to buy Bitcoin
According to Investegate, London-listed Helium Ventures PLC announced the successful completion of an oversubscribed placement, raising approximately £4 million, with a total of 9,302,326 new shares placed at an issue price of 43 pence per share. The placement shares are expected to be listed on the AQSE Growth Market on June 26, 2025, and the company's total share capital will increase to 116,552,976 shares after listing. The company also plans to hold treasury reserves and remaining cash in Bitcoin, and reminds investors to pay attention to related risks.
K33 announced the successful completion of a private placement, raising a total of approximately 125 million Swedish kronor (approximately 11.5 million US dollars), all of which will be used to purchase Bitcoin as company assets. This is part of its Bitcoin reserve strategy, which aims to improve operating leverage, profit margins and institutional cooperation capabilities. The dilution ratio of this additional issuance is approximately 9%. The company plans to quickly accumulate 1,000 BTC.
According to PR Newswire, Semler Scientific, a US listed company, announced the appointment of Joe Burnett as director of Bitcoin strategy and set a three-year Bitcoin reserve target: at least 10,000 Bitcoins by the end of 2025, 42,000 by the end of 2026, and 105,000 by the end of 2027. The company will promote Bitcoin accumulation through equity, debt financing and operating cash flow. Chairman Eric Semler said that Burnett's joining will help the company's long-term Bitcoin strategic goals. Since adopting Bitcoin as the main reserve asset in 2024, the company has achieved a Bitcoin yield of approximately 287% and a book profit of US$177 million.
