24H hottest coin species and headlines | The GENIUS Act enters the House of Representatives for consideration; Powell rejects the possibility of a rate cut in July (June 25)

1. Popular coins on CEX

• BTC: 0.99%
• ETH: 1.67%
• BNB: 0.84%
• SOL: 1.2%
• DOGE: 1.28%
• PEPE: 1.21%
• SUI：-0.57%
• UTK: 1.71%
• XRP: 1.49%
• TRX: -0.47%

CEX trading volume Top 10 and 24-hour change:

• DUCK: 16.37%
• CFG: 15.43%
• LOOKS： 9.73%
• BCH: 8.68%
• CSPR: 7.39%
• ICE: 5.94%
• MAJOR: 5.25%
• APT: 4.9%
• FORTH: 4.56%
• BSV: 4.11%

24 H percentage increase list (data source is OKX):

2. Top 5 popular on-chain Meme (data source is GMGN):

• solami
• Fartcoin
• fingy
• mai
• Pio

3. 24 H hot search coin types

ACID: An AI automated meme coin based on Solana, dedicated to simplifying Web2 and Web3 tasks with AI assistants, enhancing the usability and ecosystem participation of decentralized applications through intelligent tools.

Headlines

New York City Mayor Adams announced the cryptocurrency policy plan, intending to promote the use of cryptocurrencies for city services and education.

New York City Mayor Eric Adams announced a number of crypto-friendly initiatives at the Brooklyn Permissionless conference, including promoting the use of cryptocurrency to pay for city services, introducing digital asset education in schools, and forming a city council to advocate for crypto-friendly policy directions.

GENIUS Act enters the House of Representatives for consideration

The Senate has passed the GENIUS stablecoin bill and sent it to the House for consideration, while the Senate Banking Committee will hold its first hearing on cryptocurrency market structure reform on Tuesday. President Trump has called on the House to pass the “clean version” of the GENIUS bill at “lightning speed,” but there is internal disagreement in Congress on whether to package it with the market structure bill.

Powell rejected the possibility of a rate cut in July

When asked whether the Fed is prepared to cut interest rates again at the next meeting in July, Fed Chairman Powell refused to answer the question during his congressional testimony. Powell said, “I don’t want to point out any particular meeting. I don’t think we need to be hasty.” Republican Congressman Mike Lawler pressured Powell on why the Fed did not choose to cut interest rates despite the cooling inflation, echoing President Trump’s criticism of the Fed chairman.

Guotai Junan International has officially been approved to provide trading services for virtual assets such as cryptocurrencies and coins.

Guotai Junan International (1788.HK) officially obtained approval from the Hong Kong Securities and Futures Commission on June 24 to upgrade its existing securities trading license to provide virtual asset trading services and related opinions. After the upgrade, customers can directly trade cryptocurrencies such as Bitcoin, Ethereum, stablecoins like Tether, etc. Guotai Junan International thus becomes the first Hong Kong-based Chinese-funded securities firm to offer comprehensive virtual asset trading services, including virtual asset trading, consulting, and related product issuance and distribution. The company has been expanding its virtual asset business in recent years, including launching virtual asset ETF structured products, conducting trading platform agency business, digital bond issuance, actively assisting Hong Kong in building an international virtual asset center.

GaN Technology announced a strategic restructuring, focusing on the field of cryptographic infrastructure and bitcoin mining

According to official sources, Gate Technology announced that it has initiated a strategic reorganization. Zhang Nengjing, the Chairman and CEO, stated that the company will focus on the encryption infrastructure and coin mining fields, including bitcoin mining machine sales, self-mining operations, and consumer-oriented mining products. In addition, Gate Technology disclosed that the revenue generated from the sale of edge computing products in the 2024 fiscal year is approximately $900,000. Unaudited operating expenses related to this business account for about 15% of the total operating expenses for the 2024 fiscal year.

Industry News

British media: EU prepares to impose retaliatory tariffs to ensure a better trade agreement with Trump

According to the Financial Times, a senior official has warned that the European Union must make a ‘credible threat’ to retaliate in the trade war initiated by Trump if it wants to reach a good deal before the upcoming deadline for negotiations. Two EU officials stated that Sabot, chief of staff to the European Commission President, told ambassadors from EU countries last week after the G7 summit that the prospect of a strong response would help persuade the US president to reduce the high tariffs imposed on the EU. German Chancellor Merkel also hinted that her government would support taking a tougher stance. She said on Tuesday, ‘If no agreement is reached, we are prepared to use various options. We can and will defend our interests.’ Sabot told ambassadors that European Commission President von der Leyen is prepared to escalate negotiations in order to achieve a better deal.

Solana Treasury Company Upexi’s stock price plummeted by 60%, with investors selling off 43 million shares

Solana Treasury company Upexi (UPXI) opened on Tuesday with a sharp drop of about 60%, falling below $4 to $3.82. The reason is that investors registered to sell 43.85 million shares, equivalent to the company’s initial float in April.

Derin Holdings and ViaBTC establish a joint venture to establish a Bit[币]coin reserve

Official documents show that DeLin Holdings, a Hong Kong-listed company, announced a strategic partnership with the Bit[coin] mining pool ViaBTC, intending to establish a joint venture to conduct over-the-counter (OTC) trading of cryptocurrencies and provide asset management and family office services to OTC and cryptocurrency mining clients. In addition, DeLin Holdings also revealed plans to explore the establishment of a Bit[coin] (BTC) reserve and develop a virtual asset trading and virtual asset management platform licensed by the Securities and Futures Commission of Hong Kong.

The UK listed company Vinanz increased its holdings of 37.72 bitcoins, with a total holding of 58.68 coins.

According to an announcement from the London Stock Exchange, Vinanz (@VinanzBTC) recently announced an increase in its holdings of 37.72 bitcoins, bringing its total treasury holdings to 58.68 coins. The company stated that this is part of its expanding bitcoin treasury strategy, and it plans to directly subscribe additional funds to bitcoin assets later this week. Vinanz is a company listed on the London Stock Exchange, focusing on acquiring and holding bitcoins as long-term treasury assets.

South Korean listed company Bitmax added 49.06 coins to reach a total holding of 300.08 coins

South Korean listed company Bitmax (KOSDAQ: 377030) announced the addition of 49.06 coins, increasing its total holdings to 300.08 BTC, making it the largest bitcoin holder among listed companies in South Korea. The company stated that it has completed a 50 billion won central bank fundraising and is raising an additional 50 billion won to continue increasing its bitcoin holdings.

London-listed company Vaultz Capital completes first Bitcoin purchase, buying 10 BTC

London-listed company Vaultz Capital announced the completion of its first Bitcoin purchase, buying 10 coins at an average price of $104,621, with a total holding value of £774,570 (approximately $1.05 million). Vaultz Capital stated that this purchase marks the official launch of its Bitcoin financial strategy.

Listed company The Smarter Web Company increased its holdings to 196.9 bitcoins, with a total holding of 543.52 bitcoins.

According to the official announcement, London-listed technology company The Smarter Web Company announced an increase in holdings of 196.9 bitcoins, with an average purchase price of $10389. The total holding of the company now reaches 543.52 coins.

Project News

Flashnet and Brale will launch Bitcoincoin native US Dollar stablecoin USDB in collaboration with Magic Eden this summer.

Flashnet and Brale will launch a USD-backed native stablecoin USDB on the Bitcoin network this summer. The stablecoin will be issued on the Bitcoin Layer 2 network Spark and fully backed by US Treasury bonds. NFT marketplace Magic Eden will also participate in the issuance and circulation of USDB, promoting its application in the Bitcoin ecosystem. The launch of USDB will bring native dollar liquidity to Bitcoin without relying on cross-chain bridges or synthetic assets, providing traders, institutions, and developers with a more secure and transparent financial tool.

Aptos Labs and Jump Crypto join hands to launch Shelby, a new generation of decentralized hot storage network

Aptos Labs partners with Jump Crypto to officially release Shelby, a high-performance, decentralized hot storage network designed specifically for Web3 real-time applications, covering scenarios such as streaming media, AI data, social platforms, and DePIN.

Chainlink partners with Mastercard to support 3 billion users in purchasing cryptocurrency coins on-chain

Chainlink partners with Mastercard to allow over 3 billion Mastercard cardholders to directly purchase cryptocurrencies through on-chain services. This integration is supported by the Chainlink cross-chain protocol, in collaboration with zerohash, Swapper Finance, Shift 4 Payments, XSwap, and Uniswap, bridging the traditional payment world with decentralized finance (DeFi).

Merlin BTC pledging first Vault filled within 27 minutes, official plans to increase quota

After the launch of the BTC pledging function on Merlin Chain, the first 50 BTC Vaults were fully subscribed within 27 minutes. The official stated that, due to the enthusiastic response to the first phase, new pledging Vaults will be gradually opened according to market demand to meet the continuous growth of the community’s pledging needs.

Story and OKX Ventures establish a $10 million ecosystem fund to accelerate innovation in the intersection of IP and AI.

According to official sources, the Intellectual Property (IP) blockchain platform Story is collaborating with OKX Ventures to launch an ecosystem fund of up to $10 million, aimed at supporting startups that utilize IP assets and AI technology to solve practical problems. From bringing real-world IP onto the chain to realize the financialization of IP value, enabling creators to profit, to providing on-chain data for large-scale AI training that is attributable and traceable, opening up new economic channels and accelerating the development of AI.

Regulatory Trends

Xiao Feng: The stablecoin license in Hong Kong will not be limited to HKD stablecoin, but can also issue stablecoins of other currencies.

HashKey Group chairman Xiao Feng recently stated in an interview with BlockBeats that after the stablecoin license application in Hong Kong is approved and issued, stablecoins of various types can be issued, not limited to Hong Kong stablecoins. The blockchain network required for the deployment of stablecoins issued will be determined by the issuer, i.e., it can be Ethereum, Solana, etc., or a self-operated blockchain network.

The Japanese Financial Services Agency is considering including cryptographic assets in the Financial Instruments and Exchange Act, or advancing separate taxation and bit[coin] ETFs.

The Japanese Financial Services Agency today released a document announcing that it will carefully consider transferring the regulation of crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act framework. If it proceeds smoothly, crypto assets will be officially classified as financial products, and the related tax system is expected to change from a maximum 55% comprehensive tax to around 20% individual tax. It may also lift the ban on Bitcoin ETFs, improving the investor access environment.

Wu Jiezhuang: The settlement between traditional finance and stablecoin is still in the adaptation period. It is recommended that Hong Kong learn from the EU MiCA’s cross-border coordination experience.

Hong Kong Legislative Council member Wu Jiezhuang stated in a post: "After years of efforts, the passage of the ‘Stablecoin Regulations’ signifies a further improvement in Hong Kong’s cryptocurrency regulatory framework, demonstrating the forward-looking approach of Hong Kong, China in balancing financial innovation and risk management. As regulators, the HKMA has a clear position on stablecoins - they are payment tools rather than investment products, which helps the public understand their functional boundaries rationally.

Investment and Financing

Market news: Polymarket’s financing amount is nearly 2 billion U.S. dollars, with a valuation exceeding 10 billion U.S. dollars

Market news: Polymarket’s financing amount is nearly 2 billion U.S. dollars, with a valuation exceeding 10 billion U.S. dollars.

Canton Network developer Digital Asset completes $135 million strategic financing, led by DRW Venture Capital, etc.

Privacy blockchain Canton Network’s developer Digital Asset announced the completion of a $135 million strategic financing. This round of financing was led by DRW Venture Capital and Tradeweb Markets, with participating institutions including traditional financial and crypto industry giants such as BNP Paribas, Circle Ventures, Citadel Securities, DTCC, Virtu Financial, Paxos, etc.

The BitCoin mining company Hut 8 will expand its BitCoin credit limit with Coinbase to $130 million.

Listed Bitcoinc mining company Hut 8 announced that it has revised and expanded its Bitcoinc collateral credit limit with Coinbase Credit from the original $65 million to a maximum of $130 million, and extended the loan term to July 16, 2026. This adjustment includes a fixed interest rate reduced to 9%, an improved collateral structure, and additional non-dilutive funds to support Hut 8’s expansion plans in high-performance computing and Bitcoinc mining sectors.

On-chain derivative trading platform Sphinx completes a $2 million Pre-Seed round of financing, led by Eckhardt Capital.

On-chain derivative trading platform 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.

character voice

Trader Eugene: The Middle East incident has ended, and the market has returned to a downtrend. In the short term, adopt a long BTC short altcoin strategy.

Trader Eugene posted on social media that he has now closed all long positions (except for some BTC) and started shorting some altcoins. He believes that the impact of the Middle East situation has come to an end, and the overall market trend remains weak.

Powell: The Fed neither owns nor seeks legal authority to purchase Bitcoin

Federal Reserve Chairman Powell: The Federal Reserve neither owns nor seeks legal authority to purchase Bitcoin.

Glassnode: The supply of long-term holders of Bitcoin is nearing an all-time high, with around 14.7 million BTC

Glassnode stated on the X platform that the HODL wave indicator, which tracks the behavior of long-term bitcoin holders, has shown the smallest outflows since June 10, indicating sustained confidence as the supply held by HODLers approaches an all-time high of around 14.7 million BTC, despite recent market volatility, long-term investors are still hesitant to sell.

Bloomberg analysis: The future of stablecoin in Hong Kong may be linked to real-world assets such as real estate

Bloomberg Industry Research released a report discussing the potential of the stablecoin market in Hong Kong and its impact on the foreign exchange market. Analysts stated that since any stablecoin pegged to the Hong Kong dollar is backed by Hong Kong dollar cash or cash equivalents, stablecoins will still be affected by the exchange rate between the Hong Kong dollar and the US dollar. Even if the value of stablecoins remains stable during any potential adjustments in the Linked Exchange Rate System, the assets backing stablecoins may need to be revalued. Therefore, it is believed that in the future, stablecoins in Hong Kong may be pegged to real-world assets such as real estate.

In addition, as the issuer of stablecoin must hold the corresponding legal tender coin, the large-scale and securitized reserve of high-quality assets will promote the popularization of stablecoin in Hong Kong, and the new trading medium can also release the liquidity of real-world assets in Hong Kong.