Today's news tips:
Israel launches airstrikes against Iran, Israeli Defense Minister declares a state of emergency
The U.S. Senate will hold a final vote on the stablecoin GENIUS Act on June 17
Report: 74% of family offices have allocated or are considering allocating digital assets
Polkadot community proposes to use 501,000 DOTs to set up Bitcoin reserves
DeFi Development receives $5 billion equity credit line to increase Solana stake
Regulatory/Macro
Chan Mo-po: Hong Kong will publish its second policy statement on digital asset development in June
Hong Kong SAR Financial Secretary Paul Chan said at the 2025 Caixin Summer Summit that Hong Kong has launched a licensing system for digital asset trading platforms and stablecoins, and is promoting regulatory arrangements for custody and over-the-counter transactions. "This month, we will publish the second policy statement on the development of digital assets in Hong Kong, focusing on combining financial services with innovation and expanding the application scenarios of digital assets."
Israel launches airstrikes against Iran, Israeli Defense Minister declares a state of emergency
According to foreign media reports, the Israeli Air Force attacked Iran on Thursday local time. It is not clear what the target of the attack was, but reports said there was an explosion in Tehran. The attack was a direct attack by Israel on its largest and most well-armed opponent without the explicit support of the United States. On Thursday night, sirens sounded across Israel. Israeli Defense Minister Katz declared a special state of emergency for the country. Later, Israeli military officials said that the first phase of the operation had been completed, including strikes on dozens of Iranian military targets, including nuclear targets in different regions of Iran.
The U.S. Senate will hold a final vote on the stablecoin GENIUS Act on June 17
According to Cointelegraph, the U.S. Senate plans to hold a final vote on the stablecoin GENIUS Act on June 17 local time. The specific time will be determined by the majority leader.
Report: 74% of family offices have allocated or are considering allocating digital assets
According to Bloomberg, the latest "2025 Family Office Investment Insights Report" released by BNY Wealth shows that the world's wealthy families are accelerating the adjustment of asset allocation. Among family offices with assets under management of more than US$1 billion, two-thirds plan to increase private equity investment allocation this year, an increase of nearly 70% from 2024; at the same time, the proportion of public stock allocation has dropped to 19%, a year-on-year decrease of 28%. The report pointed out that 74% of the investors surveyed have already allocated
According to CoinDesk, the share price of SharpLink Gaming, a Nasdaq-listed company, plunged 70% after the market on June 13. The stock price movement is related to the S-3ASR registration statement submitted by the company, which allows the resale of up to 58,699,760 shares related to PIPE financing. BTCS CEO Charles Allen analyzed that the Thursday document enabled more than 100 PIPE shareholders to sell their shares, which may lead to a market sell-off. He also speculated that SharpLink Gaming may have quietly raised up to $1 billion through a market-priced offering plan to buy more Ethereum. If the strategy is appropriate, it may soon issue a surprise announcement announcing the purchase of $1 billion worth of Ethereum, which is expected to rekindle market enthusiasm. The company previously raised $450 million in private placements to establish Ethereum (ETH) reserves. Investors include institutions such as ConsenSys, Galaxy and Pantera Capital. Ethereum co-founder Joseph Lubin has served as chairman of the company's board of directors.
SEC and Ripple ask court for $125 million fine, seeking to end years of litigation
According to The Block, Ripple and the U.S. Securities and Exchange Commission (SEC) filed a joint motion with the Federal District Court for the Southern District of New York, requesting the court to lift the ban on Ripple and reach a settlement of $125 million in fines, of which $50 million was paid to the SEC and $75 million belonged to Ripple. Both parties pointed out that the SEC's view on cryptocurrencies has changed. Since the former chairman stepped down, the agency has withdrawn many investigations and charges, and has also set up a working group to develop a regulatory framework. There are "special circumstances" and modifying the final judgment will help reconcile, avoid appeals and save resources. The motion is the latest development in the nearly five-year legal dispute between the two parties.
US SEC postpones approval of Dogecoin, Hedera and Avalanche spot ETFs
According to The Block, the U.S. Securities and Exchange Commission (SEC) has postponed the approval of multiple cryptocurrency ETFs, including Bitwise's Dogecoin ETF, Grayscale's Hedera Trust, and VanEck's Avalanche ETF. The SEC stated in the document that the postponement does not mean that a conclusion has been reached on the relevant issues, but it hopes to collect more public opinions.
Viewpoint
Matrixport pointed out in its latest "MatrixOnTarget" report that the current crypto market is welcoming IPO plans totaling $132 billion, which may have a significant impact on the price of Bitcoin. The report shows that Bitcoin has recently exceeded $106,000, partly due to the market capital injection brought by the IPO boom of crypto companies such as Circle. Circle's market value has reached $23.5 billion, far exceeding the initial expectation of $7.9 billion. In addition, crypto exchanges such as Bullish, Gemini and Kraken are also planning to go public in the coming months, with valuations of $13.5 billion, $10.5 billion and $16.2 billion respectively. The report analyzed that these IPOs may further attract investors from traditional financial markets to enter the crypto field, thereby providing indirect support for Bitcoin prices. However, the market still needs to pay attention to whether the IPO boom will bring short-term fluctuations or long-term support. The report also mentioned that Circle's current price-to-earnings ratio is as high as 340 times, significantly higher than Coinbase's 42 times and other similar companies, and there may be a risk of overvaluation. Matrixport believes that as more crypto companies go public, the market's attention and demand for Bitcoin are expected to increase further, but it is necessary to be vigilant that the market may enter a sideways consolidation period.
JD Group Chief Economist Shen Jianguang and JD Group Senior Research Director Zhu Taihui published an article titled "Promoting RMB Internationalization with Offshore RMB Stablecoins" in the China Economic Times hosted by the Development Research Center of the State Council. The article pointed out that issuing RMB stablecoins is a new way to adapt to the development trend of global stablecoins, respond to the new US cryptocurrency policy, and accelerate the internationalization of RMB. The development of offshore RMB stablecoins is a way to ease the pressure on "digital currency".
Analysis: Bitcoin and other cryptocurrencies plummet in value after Israeli airstrike on Iran
According to Jinshi, on Friday morning, the largest digital asset Bitcoin fell 3% to below $103,000 in the Singapore market, while smaller cryptocurrencies saw larger declines. The second-ranked token Ethereum fell by about 6.9% at one point. "Cryptocurrencies reacted negatively to the news of Israel's attack on Iran, in line with major risk assets," said Caroline Moren, co-founder of Orbit Markets, a crypto derivatives liquidity provider. "We expect to see technical support around $101,000, but geopolitical news will drive price movements in the short term."
Galaxy CEO: If Bitcoin maintains its current growth trend, its price is expected to reach $1 million
According to The Block, Galaxy Digital founder and CEO Mike Novogratz said in an interview with CNBC that if Bitcoin continues to maintain its current growth trend, its price is expected to reach $1 million. He believes that as the younger generation prefers Bitcoin, Bitcoin may gradually replace gold as a wealth storage function. According to the current market value of gold, Bitcoin needs to grow 10 times to be on par with it, corresponding to a price of about $1 million. Novogratz pointed out that the current institutional adoption of Bitcoin is accelerating, including listed companies, sovereign wealth funds and retail investors are all increasing their holdings. He specifically mentioned that BlackRock's spot Bitcoin ETF has managed more than $70 billion in assets and holds about 3% of the total supply of Bitcoin.
Project News
Polkadot community proposes to use 501,000 DOTs to set up Bitcoin reserves
Polkadot community members proposed to set up a Bitcoin strategic reserve for the treasury, planning to use 501,000 DOTs, of which 500,000 will be used to gradually convert to decentralized non-custodial BTC assets tBTC, and 1,000 will be used for transaction fees. The proposal aims to improve the long-term stability and risk resistance of the treasury through asset diversification. The specific implementation method is to use the Rolling DCA mechanism of the Hydration protocol to sell small amounts of DOT every day within one year and convert them into tBTC.
Polygon announces "Gigagas" expansion roadmap: gradually achieve 100,000 TPS in three stages
According to the official announcement, Ethereum expansion solution Polygon released the "Gigagas" expansion roadmap, which plans to increase the network throughput to 100,000 TPS in three stages, becoming the core blockchain infrastructure for global payments and real-world asset (RWA) settlement. Short-term goal (July 2025): Increase TPS from the current level to 1000+ through the Bhilai upgrade, and shorten the final confirmation time of transactions to about 5 seconds; optimize the Gas fee mechanism to keep the cost of a single transaction below $0.001 (paid in POL); upgrade the core components of the execution layer (Bor) and consensus layer (Heimdall) to support the latest Ethereum standards. Medium-term goal (end of 2025): Achieve 5000+ TPS through the Validator-Elected Block Producer model (development network has been tested); integrate the AggLayer cross-chain protocol to eliminate the risk of chain reorganization and achieve block finality. Long-term plan (after 2026): Promote the upgrade of Gigagas to 100,000 TPS to support institutional-level RWA and global payment scenarios; expand the scale of validators to enhance decentralization and maintain 99.9% network stability; deepen cooperation with traditional financial institutions such as Stripe, BlackRock, and Apollo.
E-commerce platform Shopify cooperates with Coinbase and Stripe to promote USDC stablecoin payments
According to The Block, e-commerce platform Shopify announced a partnership with Coinbase and Stripe to support merchants to accept USDC stablecoin payments issued by Circle. Through this service, consumers can use USDC on the Base chain to make payments in 34 countries, and merchants can choose to receive payments in local legal currency and deposit them directly into their bank accounts. Shopify's chief operating officer said that the partnership will help merchants easily cope with global stablecoin payment needs without having to build their own encrypted payment infrastructure. Coinbase also jointly launched the "Commercial Payment Protocol" with Shopify to solve the application bottleneck of cryptocurrencies in commercial payment scenarios.
Coinbase adds Sonic(S) to its coin listing roadmap
According to official news, Coinbase announced that Sonic(S) will be added to the coin listing roadmap.
Important data
The Ethereum Foundation internally transferred 1,000 ETH to an associated address
According to Paidun’s monitoring, the Ethereum Foundation has internally transferred 1,000 ETH (worth approximately US$2.5 million) to the associated address 0xc061...0B6d.
BlackRock's BUIDL fund nears $3 billion, tripling in less than 90 days
According to Cryptoslate, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) expanded by about $1 billion between March 26 and June 11, accounting for about half of the $2 billion growth in the tokenized U.S. Treasury market during the same period. As of now, BUIDL is currently worth $2.89 billion, making it the largest tokenized money fund, accounting for 40% of the $7.34 billion market, according to rwa.xyz data. March 26 was a significant date, when Ethena Labs stopped increasing its fund share of its stablecoin USDtb. Most of BUIDL’s growth in 2025 came from USDtb, with 90% of its reserves totaling $1.3 billion injected into the fund. Even without Ethena’s push, BUIDL still achieved a significant 35% growth in less than three months, highlighting the strong demand for regulated high-yield cash instruments on public blockchains. In addition, the fund has nearly tripled in size since it reached $1 billion on March 13. However, it took the fund less than 90 days to triple in size, demonstrating the surging interest in tokenized real-world assets (RWAs), especially U.S. Treasuries.
According to SoSoValue data, yesterday (June 12, Eastern Time), the total net inflow of Ethereum spot ETFs was $112 million. The Ethereum spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF ETHA, with a single-day net inflow of $102 million. Currently, ETHA's total net inflow in history has reached $5.236 billion. The second largest was Fidelity ETF FETH, with a single-day net inflow of $10.8319 million. Currently, FETH has a total net inflow of $1.236 billion.
A whale deposited 1,000 BTC to Binance again 2 hours ago, worth more than $100 million
According to Lookonchain monitoring, the whale 12d1e4 deposited 1,000 BTC (worth $106.06 million) to Binance again 2 hours ago. The whale has been selling BTC since April 3, 2024, and has sold a total of 6,500 BTC (worth $585 million), and currently still holds 3,500 BTC (worth $363.5 million).
A whale spent 127 million USDC to buy 48,800 ETH in nearly 6 hours
According to the monitoring of on-chain analyst Yu Jin, "a giant whale/institution that made a profit of $30.45 million through two ETH waves" used 127 million USDC to buy 48,800 ETH in the last 6 hours after the market fell today. 1. After making a profit of $30.45 million from the previous two ETH waves, the third position was started on the 11th, spending 46.494 million USDC to buy 16,500 ETH; 2. After ETH fell sharply in the early morning of today, it continued to increase its position, and transferred a total of 127 million USDC to Wintermute and Coinbase, and purchased 48,825 ETH to withdraw to the address; 3. In the third wave, a total of $174.1 million was invested to purchase 65,325 ETH, with an average price of $2,665, and it is currently in a floating loss state.
FTX/Alameda distributed 188,000 SOL redeemed from staking to 30 addresses in the early morning
According to on-chain analyst Yu Jin’s monitoring, FTX/Alameda once again carried out the monthly routine SOL transfer operation, distributing and transferring 188,000 SOL (US$31.5 million) redeemed from staking to 30 addresses 7 hours ago. According to previous records, most of the addresses that received SOL will subsequently transfer SOL to Coinbase or Binance. Since November 2023, FTX/Alameda’s staking addresses have redeemed and transferred a total of 8.407 million SOL through the above method.
Coinglass data shows that in the past 24 hours, the cryptocurrency market's total network contracts have been liquidated by $1.017 billion, of which long positions have been liquidated by $944 million and short positions have been liquidated by $73.4977 million.
Institutional holdings
Japanese listed company Remixpoint announced today that it had increased its holdings of 56.87 bitcoins for 887.25 million yen, with an average purchase price of 15.6 million yen, bringing its total holdings to 1,038.26 bitcoins.
According to the official announcement, Smarter Web Company, a British listed company, added 74.27 BTC to its treasury, bringing its total BTC holdings to 242.34.
Anthony Pompliano to lead listed company ProCapBTC to raise $750 million to buy Bitcoin
According to the Financial Times, Anthony Pompliano, a well-known US crypto KOL, plans to become the CEO of the listed company ProCapBTC. The company is negotiating a merger with the SPAC platform Columbus Circle Capital 1, and plans to raise $750 million to purchase Bitcoin. $500 million will be raised through equity financing and $250 million through convertible bonds. Columbus Circle Capital 1 is supported by Cohen & Company investment bank and just closed in late May.
According to official news, Canadian listed investment company Tony G Co-Investment Holdings announced that it has purchased 10,387 HyperLiquid platform native tokens HYPE at an average price of US$42.24, with a total value of US$438,828. The acquisition was completed through WonderFi Technologies, a Canadian compliant digital asset platform, marking the company's first layout of the HyperLiquid ecosystem. HyperLiquid is a blockchain infrastructure designed to improve the efficiency of DeFi applications. The company's CEO said that this investment reflects the strategic layout of decentralized trading infrastructure.
Japanese video game developer Gumi spent about $6.99 million to buy 80,352 bitcoins
According to Bitcoin Magazine, Japanese video game developer Gumi announced that it spent about 1 billion yen (about 6.99 million U.S. dollars) to buy 80,352 bitcoins. The company said it will continue to actively acquire bitcoins. Once it decides to make additional purchases, it will be disclosed in a timely manner.
The Blockchain Group Completes €9.7 Million Funding to Advance Bitcoin Reserve Strategy
According to Bitcoin Magazine, European listed company The Blockchain Group (ALTBG) announced the completion of 9.7 million euros in financing to advance its Bitcoin reserve strategy. The funds were raised through a combination of equity and convertible bonds, with major investors including Adam Back, TOBAM and Ludovic Chechin-Laurans. Among them, TOBAM subscribed to 6 million euros of convertible bonds with a conversion premium of 30%; Ludovic Chechin-Laurans invested 2.4 million euros in the form of Bitcoin; Adam Back converted all of his first-phase bonds into 14.9 million shares of ALTBG and subscribed for an additional 2.1 million shares. The financing is expected to increase the company's holdings by approximately 80 bitcoins, and the total reserve will reach 1,611.
GameStop increases planned convertible senior notes offering to $2.25 billion
According to Businesswire, video game retailer GameStop (NYSE: GME) announced that it has determined the price of its additional $2.25 billion principal amount of 0.00% convertible senior notes due in 2032 in a private placement, which is higher than the previously announced $1.75 billion. The company also granted the initial purchaser an option to purchase an additional $450 million in principal notes within 13 days of the first issuance date of the notes. After deducting related expenses, GameStop expects the net proceeds from this issuance to be approximately $2.23 billion. If the initial purchaser exercises the option, the net proceeds will be approximately $2.68 billion, and the funds will be used for general corporate purposes, including investment and potential acquisitions.
DeFi Development receives $5 billion equity credit line to increase Solana stake
PANews reported on June 12 that according to CoinDesk, Nasdaq-listed company DeFi Development Corp. (DFDV) reached a $5 billion equity credit agreement with RK Capital, which will be used to expand its SOL holdings. The company already holds more than 609,000 SOLs and plans to continue to increase its holdings to increase the SOL per share and validator earnings. DFDV's stock price rose 12% that day.
