BlockBeats will summarize the industry's key news content for the week of 6.16-6.22 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Recap

Escalation of Israel-Iran Conflict: U.S. Intervenes in Bombing Iran; Crypto Market Reacts with a Drop

On June 22, the U.S. military sent 6 B-2 bombers to strike Iran's 3 nuclear facilities. U.S. President Trump confirmed the news on social media, stating, "Now is the time for peace. Iran must immediately agree to end this war." As a result of this news, Bitcoin briefly dropped over 2%, and the ETH/BTC rate plummeted by 6.2% during this event. On the same day, Trump gave a speech stating that the U.S.'s goal was to destroy Iran's nuclear enrichment capability, thwart Iran's nuclear threat, and Iran's facilities have been completely destroyed. Iran must now achieve peace. If peace is not achieved by all parties, future conflicts will be more intense. Iran must either embrace peace or face a tragedy. Many goals have not been achieved yet. Tonight's strike targeted the "most challenging objective," and if peace is not achieved in the future, other targets will be hit with precision. Related Read: "Geopolitical Conflicts Persist, How Do Traders Position Their BTC Holdings? | Trader's Observation"

Tron to List in the U.S. through a "Shell" Listing and Establish a Strategy Company with Trump's Son

On June 16, Tron will list through a reverse merger with SRM Entertainment, which is listed on Nasdaq. The transaction is orchestrated by the New York-based boutique investment bank Dominari Securities, which has connections to Donald Trump Jr. and Eric Trump. One source stated that the newly formed company will buy and hold TRX, mimicking Strategy's strategy. The source also revealed that Eric Trump is expected to hold a position in the new company, but this was refuted by him the next day. It is reported that the company will be named Tron Inc, and Tron is expected to inject up to $210 million worth of token assets into the new company. Related Read: "Tron's Listing, Sun Yuchen's Entry into the Cryptocurrency Market with a Capital Carnival using Shell Listings", "In addition to the newly acquired listed company, what other companies and assets are under Sun Yuchen's name?"

Apple, Google, and More: 16 Billion Login Credentials Leaked, Sparking Security Concerns in the Crypto Industry

On June 19, it was reported that over 16 billion login credentials from mainstream online service providers such as Apple, Google, and Facebook were leaked. This large-scale data breach could have serious consequences for cryptocurrency holders. According to a recent report, the Cybernews research team reviewed "30 leaked data sets, each containing tens of millions to over 35 billion records." These data sets collectively amounted to a staggering "16 billion leaked login credentials." The report noted that "aside from one 'mystery database' containing 184 million records that had been previously reported, the rest of the data sets had not been disclosed before." Most databases contained an average of around 5.5 billion records, with the smallest data set having over 16 million records. Cybernews warned that this data could serve as the "foundation for large-scale attacks," providing attackers with "fresh and weaponizable troves of intelligence." It is reported that most of the data leaks originated from unprotected Elasticsearch instances or object storage services.

Infini Announces Discontinuation of Infini Card Service; Infini Co-founder: Due to High Compliance Costs, Thin Profits, Etc., the Focus Will Shift to Wealth Management and Asset Management

On June 17, Infini announced the official discontinuation of its Infini Card service, including the Global Card, Lite Card, and Tech Card, which will cease to be used for existing and new applications with immediate effect. Despite the termination of card services, core functions such as recharging, withdrawal, and Earn income will continue to operate normally, and user assets will remain safe and under control. On the same day, Infini's co-founder, Christine, stated in a social media post that "Infini officially announced the cessation of its cryptocurrency card business targeting individual users (To-C), citing reasons such as high compliance costs, slim profits, and operational complexity. Although this business accounted for about 99% of the company's resource allocation, it did not bring substantial revenue and has been strategically divested. Wealth management and asset management will be the future focus areas. Currently, Infini's wealth management products offer an annualized return of about 5%, and functions such as recharging and withdrawal are operating normally." Related Reading: "Interview with Infini Co-founder: Why Did We Shut Down the U Card Business?"

This Week, Binance Alpha Tokens ZKJ and KOGE Experience Sudden Plunges; Binance Attributes It to Large Holders Withdrawing On-chain Liquidity and Cascading Liquidations

On the evening of June 15, Binance Alpha tokens ZKJ and KOGE experienced a flash crash, with a price drop of over 50% at one point. On-chain analyst Ai Auntie suggested that this may have been a long-planned rug pull operation. Three main addresses exerted dual pressure through "large liquidity withdrawal + ongoing sell-offs," causing the successive collapses of ZKJ and KOGE. On the 16th, Binance stated that this situation was mainly due to large holders withdrawing on-chain liquidity and cascading liquidations in the market. On the 17th, the ZKJ team released a preliminary report on the token's price plunge, citing the main immediate causes as a large token injection resulting from a coordinated on-chain liquidity attack, Wintermute's large transfers to centralized exchanges, and cascading liquidations on these exchanges. As a result of this event, Binance Alpha's trading volume has been declining for several consecutive days and has now dropped to below $700 million daily average. Related reads: "Review of ZKJ and KOGE Flash Crash, a Liquidity Harvesting 'Sunset Plot'", "A Three-Week 'Binance Alpha Hunt': The Plunge of ZKJ and KOGE, Did Whales Score Again?"

Concept Stock of Stablecoins in High Demand, Circle's Price Surges Over 600% Since Listing on June 6

On June 21, according to the stock market, Circle closed at $240.28, with a daily increase of 20.39%, reaching a new high since its listing. Previously, on June 5, Circle completed its IPO on the New York Stock Exchange at $31 per share. After several days of continuous uptrend, Circle's current stock price has risen over 670% from its IPO price. Related reads: "Eve of Stablecoin Revolution: The Stablecoin Frenzy Accelerated by Circle's Wild Surge", "Crypto Bull Market, All in the Stock Market: Circle Surges from $31 to $165 in Ten Days", "Auntie Wooden CRCL Earned $100 Million and then Sold, Can You Short Circle Now?"

pump.fun Token Auction Delayed Again to Mid-July, Valuation Estimated at Around $4 Billion

On June 20, it was reported that the pump.fun token auction has been delayed again to mid-July, with a valuation estimated at around $4 billion. The auction has seen multiple delays since the end of last year, with the project team selling token allocations to crypto funds. However, a valuation model built by Messari researchers suggests that the PUMP Fully Diluted Valuation (FDV) could reach $7 billion. Related reading: "Messari: PUMP's Fair Valuation is $7 Billion, Is Buying at Public Sale a Profit?"

X Ban Wave Subsides: Unbans Issued for pump.fun, Its Founder, GMGN, and Some Crypto KOL X Accounts

On June 18, according to market reports, the previously banned pump.fun platform, its founder Alon, GMGN platform, and some crypto KOL X accounts have now been unbanned. Earlier reports indicated that on June 12, X platform underwent a large-scale ban of Crypto users, with bans on accounts such as Eliza, GMGN's official Twitter, and numerous MEME KOL accounts, including influencers like Wolfy_XBT, brc20niubi, 0xCryptoWizard, Ga__ke, GMGN's official account, and GMGN's founder account @haze0x. Related reading: "Pumpfun Accounts Gone, Crypto Twitter English Community Faces Collective Bans"

ai16z Founder: X Platform States Monthly Payment of $50,000 Enterprise Licensing Fee Will No Longer Be Pursued, Considering Legal Action

On June 18, the ai16z founder posted on Farcaster, stating, "X contacted me, claiming we violated certain terms of service such as selling data, selling certain content bypassing API keys, but we have never done these now or in the future. X said if we pay a monthly $50,000 enterprise licensing fee, they won't pursue this further. I do not want to be part of this system—it goes against everything I stand for. I am considering whether to take legal action." Earlier reports mentioned that ElizaOS's official X account @elizaOS and its founder Shaw's account @shawmakesmagic were both suspended.

U.S. Senate Votes to Pass the "GENIUS Stablecoin Act"

On June 18, it was reported that on Tuesday local time, the U.S. Senate passed the landmark cryptocurrency legislation known as the "GENIUS Act," aimed at fostering the industry's growth. This marked a historic lobbying victory for digital asset companies in the Senate's first-ever comprehensive regulatory reform vote on cryptocurrency. The U.S. Senate passed the bill with a vote of 68 in favor and 30 against, with 18 Democrats joining most Republicans in supporting it for consideration by the House. The bill, led by Republican Senator Bill Hagerty of Tennessee, will establish a U.S. regulatory framework for stablecoins pegged to the value of the dollar for the first time. Related read: "Senate Clears 'GENIUS Act,' Will It Impact Tether?"

Texas Governor Signs "Bitcoin Reserve Act" SB 21, Officially Becomes Law

On June 22, it was disclosed that Texas Governor Greg Abbott signed the "Bitcoin Reserve Act" SB 21, officially making it law. Texas now becomes the third state to have a Bitcoin reserve. Previously, Texas Lieutenant Governor Dan Patrick announced that the Texas Strategic Bitcoin Reserve Act had bipartisan support and would establish a fund managed by the state government, only investing in cryptocurrencies with an average market value of at least $500 billion over the past 12 months, eligible to receive state budget appropriations. Additionally, the bill establishes the Strategic Bitcoin Reserve Advisory Council to provide guidance for fund management and requires a biennial report on holdings.

Iranian Crypto Exchange Nobitex Targeted in Attack by Israeli Hacker Group, Suffers Around $100 Million in Losses

On June 18, the Iranian crypto exchange Nobitex was hit by a hacker attack. The culprit behind the scenes was the pro-Israeli hacker group "Gonjeshke Darande." The organization, whose name means "Pouncing Eagle" in Persian, is known for launching cyberattacks on critical infrastructure in Iran. While the group claims to be an independent hacker collective, the sophistication of their attacks and the target selection against the Iranian regime suggest possible links to the Israeli government or military. On the same day, SlowMist Labs founder Ye Guchen stated that the hacked addresses were all politically motivated, with a focus on asset confiscation rather than theft. On the 19th, the group posted key information about Nobitex's internal architecture, system details, source code, etc., on social media. On that day, Nobitex issued a statement saying, "The estimated total amount of stolen assets is approximately $100 million. Furthermore, due to network restrictions and blocked external server access, the platform's recovery may take longer than usual. However, Nobitex is making every effort to expedite the restoration process. All user assets are fully protected by the Nobitex reserve fund, and users will not suffer any financial losses." Related read: "Continuation of War: Iranian Crypto Wealth Looted by Israel", "Israeli Hackers Steal $81.7 Million in Iranian Crypto Assets, Crypto Becomes a New Battlefield?"

Trump Group Launches T1 Smartphone Priced at $499

On June 16, the Trump Group launched the T1 smartphone priced at $499, expected to be released in September. Former U.S. President Trump had previously stated that the Trump phone would use phones and services that are "Made in America." In the crypto space, the Solana phone is priced at Solana Saga ($1,000, first generation) and Solana Seeker ($450-$500).

Richard Liu: JD.com to Apply for Stablecoin License in Major Currency Nations Worldwide

On June 17, according to Sina Finance, Richard Liu, Chairman of JD.com's Board of Directors, stated during a sharing session that JD.com hopes to apply for stablecoin licenses in all major currency nations globally. Through these stablecoin licenses, JD.com aims to facilitate global corporate exchange, reducing global cross-border payment costs by 90% and increasing efficiency to within 10 seconds. Liu stated, "Currently, it takes 2 to 4 days on average for enterprises to make cross-border payments, and the costs are quite high. After we complete B2B payments, we will move towards B2C payments, hoping that one day everyone in the world can use JD stablecoins for consumption." Related Read: "Entering the Stablecoin Arena Strongly, Richard Liu Officially Initiates JD's 'Second Payment Revolution'"

JD Coinchain CEO: JD Global Mall Hong Kong and Macau Sites to Support User Payments with Stablecoins

On June 18, Liu Peng, CEO of JD Coinchain Technology, recently stated in an interview, "In the global e-commerce scenario within the JD ecosystem, the Hong Kong and Macau sites of JD Global Mall will be the first to use JD stablecoins for payment settlement. Outside the JD ecosystem, given the differences in industry scenarios, transaction timeliness, and fund settlement logic, we plan to 'tailor-make' stablecoin payment solutions for various industries. The first retail application will be in the JD Global Mall Hong Kong and Macau sites, where users can be the first to use stablecoins for shopping in JD's self-operated e-commerce scenarios. JD Coinchain plans to obtain licenses in early Q4 2025 and simultaneously launch stablecoins anchored to the Hong Kong dollar and other currencies. Currently, the company is conducting tests in the Hong Kong Monetary Authority's stablecoin issuer sandbox, focusing on testing the application of stablecoins in three major scenarios: cross-border payments, investment transactions, and retail payments."

Coinbase Seeks SEC Approval to Launch On-Chain Tokenized Stocks, Challenging Traditional Brokerages like Robinhood

On June 17, it was reported that Coinbase's Chief Legal Officer, Paul Grewal, revealed that the company is actively seeking SEC approval for a no-action letter or exemption to launch a blockchain-based traditional stock trading service. Tokenized stocks would enable T+0 settlement, 24/7 trading, and lower costs, but currently, U.S. investors are still barred from participating. This move will directly challenge traditional brokerages like Robinhood and Charles Schwab. Meanwhile, Coinbase's competitor Kraken has already launched xStocks service in Europe, Asia, and Africa, offering over 50 tokenized stocks and ETFs. Following last week's introduction of the American Express co-branded credit card and Shopify/Stripe's USDC payment partnership, Coinbase continues to expand its non-crypto asset offerings. Related reads: "Coinbase Deep Integration + JPMorgan Chase Pilot, Which Projects Are Worth Watching?", "Coinbase Aims to Be the 'American Binance'"

JPMorgan Chase May Enter the Stablecoin Business, to Pilot the Issuance of Deposit Token JPMD on Base Network

On June 18, Bloomberg reported that JPMorgan Chase will launch a token pilot called JPMD representing the global bank's U.S. dollar deposits, signaling further institutional involvement in the digital asset space. The bank will pilot the issuance of the deposit token JPMD on a blockchain associated with Coinbase. According to Naveen Mallela, Co-Head of Kinexys, JPMorgan Chase's blockchain division, in an interview, the bank will conduct a transaction in the coming days by transferring a certain amount of JPMD from the bank's digital wallet to the largest U.S. cryptocurrency exchange, Coinbase Global Inc. Related reads: "Base's 'Onchain Summer' Is Finally Here", "'Stablecoin as a Platform': Why Every Company Needs a Stablecoin Strategy?"

Former President of Serbia Confirms Role as AB Charity Fund CEO, Engaging in Philanthropy

On June 16, former President of Serbia Boris Tadić posted on X platform stating, "As the CEO of the AB Charity Fund (@ABCharityFund), I am pleased to share that despite AB Charity being in its early stages, our first donation—focused on assisting impoverished children—has been successfully sent to Timor-Leste! This charitable act has been highly praised and was honored with a certificate of recognition from the President of Timor-Leste, Jose Ramos-Horta. We look forward to extending our mission globally, not limited to just Timor-Leste." Related article: "AB DAO, Manned by an 'All-Europe Politician,' to Succeed ZKJ and Become Binance Alpha’s Next Moonshot?"

Central Bank to Establish Digital Renminbi International Operations Center; Governor Pan Gongsheng Discusses Stablecoins

On June 18, according to CCTV News, at the 2025 Lujiazui Forum, Pan Gongsheng, Governor of the People's Bank of China, announced the establishment of the Digital Renminbi International Operations Center. This will promote the international operation of the digital Renminbi, support financial market business development, and serve digital financial innovation. A personal credit reporting agency will be established to provide financial institutions with diversified and differentiated personal credit products, further improving the social credit system. Pan Gongsheng also stated that new technologies are accelerating in the field of cross-border payments. Technologies such as blockchain and distributed ledgers are driving the vigorous development of central bank digital currency stablecoins, reshaping the traditional payment system from the ground up, significantly shortening the cross-border payment chain, and posing significant challenges to financial regulation. Technologies such as smart contracts and decentralized finance will continue to drive the evolution and development of the cross-border payment system.

Binance Alpha Continues to Launch Multiple Airdrops and TGE Projects This Week; Mainstream Trading Users Receive an Average Daily Airdrop Profit of Approximately $14.6 Over the Past 30 Days

Below are the details of the airdrops:

June 16

· Users with points ≥242 can claim 5000 VELO airdrop, consuming 15 points.

· Users with points ≥242 can claim 2543 ULTI (Ultiverse) airdrop, requiring no points.

June 17

· Users with points ≥238 can participate in the BOMB TGE, requiring 15 points.

· Points ≥240 can claim 2000 SPK (Spark) airdrop, costing 15 points.

June 18

· Points ≥234 can participate in DAOBase TGE, costing 15 points.

June 19

· Alpha lists Matchain (MAT), airdrop distributed in two phases: Phase 1 (first 18 hours): Users with points ≥243 can claim; Phase 2 (next 6 hours): First-come, first-served for users with points>210, receiving 16 MAT each; Claiming in each phase costs 15 points.

June 20

· Alpha lists Avail (AVAIL): Phase 1: Points ≥243 can claim; Phase 2: Points ≥199 can participate, receiving 2667 AVAIL each; Claiming in each phase costs 15 points.

· Points ≥238 can participate in the League of Traders (LOT) TGE, costing 15 points.

June 21

· Alpha lists Redbrick (BRIC): Phase 1: Users with points ≥251 can claim; Phase 2: First-come, first-served for users with points ≥226, receiving 900 BRIC each; Claiming in each phase costs 15 Alpha points.

On June 16, Binance announced an adjustment to the calculation rules for Alpha Points. Starting from June 17, 2025, the trading volume between Alpha tokens on Binance will no longer count towards the calculation of Alpha Points. According to BlockBeats' calculation, using the new Binance Alpha rules, daily trading depreciation is about $4, expected 30-day revenue is $560, 30-day cost is $120, and 30-day profit is $440, averaging around $14.6 per day.

Trump's Company Quietly Reduces Stake in Crypto Project WLFI

On June 19, according to Forbes, based on an analysis of the World Liberty official website's rules, a company owned by Donald Trump has reduced its stake in the crypto project World Liberty Financial from 60% to 40% in the past 11 days. This change, made without any public announcement, is another sign that Trump himself or individuals acting on his behalf are still secretly conducting behind-the-scenes transactions during his tenure. Related reading: "White House Reveals Trump's Financial Status: Main Business Resort's Annual Revenue Exceeds $100 Million; WLFI Sales Reach $57 Million"

DoorDash CTO Responds to Base Co-founder Jesse's Proposal on Stablecoin

On June 18, Base co-founder Jesse Pollak posted on X platform expressing a desire to collaborate with mainstream platforms such as DoorDash, ChatGPT, Uber, Lyft, Spotify, Starbucks, Amazon, Whole Foods, Chipotle, etc., to promote support for stablecoin payments, stating, "This will increase my quality of life by 10x," and mentioned that Base currently has Shopify-level technical integration capabilities, openly inviting those with resources to DM for collaboration. Subsequently, Andy Fang, co-founder and CTO of DoorDash, reached out to him via DM, and Base co-founder Jesse confirmed that they have established contact, indicating a potential collaboration on stablecoin payments.

Telegram Founder Allowed to Travel to Dubai; Has Made a Will Distributing Wealth to 6 Children and 100 Offspring from Sperm Donations

On June 19, according to Cointelegraph, Telegram founder Pavel Durov was granted permission to leave France for 14 days starting from July 10, but only to travel to Dubai and will be subject to ongoing judicial supervision. On the same day, Pavel Durov expressed his wish to distribute his $17.1 billion wealth to his six children born to three partners and 100 children born in 12 countries over the past 15 years through sperm donations. "They are all my children and have equal rights! I don't want them to tear each other apart after I die," said the 40-year-old Durov, who stated that he does not want his children to access his wealth for 30 years.

Reddit in Talks to Use Worldcoin's Iris Scanning Device Orb; WLD Surges Over 5.5% Briefly

On June 20, it was reported that Reddit is in talks to use Sam Altman's Worldcoin's iris scanning device Orb. According to two sources familiar with the matter, World ID could soon become a way for Reddit users to remain anonymous on the platform while verifying themselves as unique individuals. On the same day, influenced by this news, WLD briefly surged over 5.5%.

X CEO: Users Will Soon Be Able to Invest or Trade on the X Platform

On June 19, according to the Financial Times, Linda Yaccarino, CEO of the social media platform "X," stated that users will soon be able to invest or trade on the platform. X is also exploring the introduction of credit or debit cards.

Bank of America Ranks Bitcoin as One of the Greatest Innovations of the Past Millennium

On June 17, according to Cointelegraph, Bank of America has ranked Bitcoin as one of the greatest innovations of the past millennium, comparing its impact to the Internet and electric cars.

Criminal Gang in Danzhou, Hainan, Sentenced for Using Cryptocurrency Investment as Bait to Illegally Raise Millions from the Public

On June 18, the Danzhou City People's Procuratorate in Hainan Province, China, reported that a criminal gang recently illegally raised over 10 million yuan from the public using the lure of high returns from investing in virtual currency. The gang was charged with the crime of illegal fundraising. In 2023, the gang conspired to illegally raise funds from the public through a "coin speculation contract" scheme for cryptocurrency speculation. Within a few months, the gang illegally raised over 10 million yuan from 32 "clients" for cryptocurrency speculation on a trading platform. As the purchased cryptocurrency continued to depreciate, they were unable to continue providing returns to the "clients," leading to a "collapse."

Key Fundings This Week: Ubyx, Gradient Network, EigenCloud, TAC, Units Network

On June 17, Ubyx, a stablecoin startup founded by former Citigroup executive Tony McLaughlin, completed a $10 million seed round financing. The round was led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, and VanEck, among others. The company aims to build a settlement system connecting stablecoin issuers with banks and financial technology companies to address interoperability challenges in the payment space.

On the 17th, the decentralized AI infrastructure project Gradient Network announced the completion of a $10 million seed round financing. This round was led by Pantera Capital and Multicoin Capital, with participation from HSG (formerly Sequoia Capital China) and several well-known angel investors and advisors from AI, crypto, and other cutting-edge fields. Related Reading: "Why did Multicoin and Pantera Focus on Gradient with a $10 Million Seed Round Investment?"

On the 17th, Eigen Labs announced the launch of the Ethereum re-staking protocol EigenCloud. a16z crypto will invest $70 million by directly purchasing the EIGEN token, as an additional investment to a16z's $1 billion investment in EigenLayer in February 2024. Related Reading: "a16z Leads $70 Million Investment, What Core Problem Does EigenCloud Solve?"

On the 18th, it was reported that the blockchain project TAC announced a total of $11.5 million raised in seed and strategic rounds, with the latest $5 million strategic round led by Hack VC. The project aims to provide EVM-compatible DeFi infrastructure for the TON and Telegram ecosystems and plans to gradually open up functionality through a phased mainnet launch.

On the 19th, according to official sources, the modular blockchain ecosystem Units Network, built on the Waves protocol, announced a $10 million funding round led by Nimbus Capital.

This Week's Popular Articles

"100,000 People Exiting, Those Who Lost Money in Binance Alpha"

Following the ZKJ and KOGE flash crash events, there was a large-scale outflow of users in Binance Alpha, and the arbitrage price efficiency rapidly decreased. The new rules for earning Alpha points made previous strategies ineffective. Users who relied on multi-account, low-cost arbitrage have chosen to exit or stay on the sidelines. Some users suffered huge losses due to misjudging the market or operational errors. The current Alpha incentive mechanism is transitioning from volume brushing to emphasizing genuine interaction and value capture. In the future, participants need to pay attention to risk management and strategy adaptation, otherwise they may bear sunk costs during rule changes or even be forced to take over.

"Tron's Listing, Sun Enters the Coin Circle Capital Frenzy Through Shell Acquisition"

Justin Sun announced Tron's (Tron) Nasdaq listing through the reverse acquisition of SRM Entertainment, joining as an advisor and including TRX in the listed company's balance sheet. This $100 million transaction not only bypasses IPO compliance obstacles but is also deeply tied to the Trump family network, with figures like Little Donald and Eric Trump involved behind the scenes at Dominari Securities. This move signifies TRX's formal entry into the Wall Street narrative system, marking Justin Sun's entry into the "public listing to buy coins" trend, opening a new cycle of "coin-stock pairing" alongside BTC, SOL, ETH, and XRP. He leverages both capital and political drivers to create a breakthrough for Tron into the mainstream financial markets.

"The Continuation of War: Iranian's Cryptocurrency Wealth Wiped Out by Israel"

Iran's largest cryptocurrency exchange, Nobitex, was attacked by an Israeli hacker group, with around $80 million in stablecoins stolen. Against the backdrop of Middle East conflicts, this event transcended the technological dimension, becoming a point of intersection between crypto finance and geopolitics. For the Iranian people, stablecoins have long been not just an investment tool, but a vital necessity in the face of hyperinflation, financial sanctions, and capital controls. Now, they have become a target of war attacks. This attack not only reveals the true role of stablecoins in conflict regions but also highlights the extension of the financial front line brought about by war, delivering a heavy blow to ordinary Iranians.

"WoodSis CRCL Made a Billion and Sold, Can You Short Circle Now?"

Since its June IPO, Circle's stock price has skyrocketed by over 500%, with a market value surpassing $48.4 billion, making it a star target of US stock crypto concept stocks. Institutions like ARK have cashed out nearly billions in profits at high prices but still hold heavy positions. While some in the crypto community have questioned its valuation, citing its single revenue structure and increased competition, the US stock market's enthusiasm for "Stablecoin Compliance Financial Platforms" has driven its stock price far beyond traditional crypto expectations. Despite the emergence of short selling voices, they find it challenging to counter the emotional premium and lock-up restrictions post-IPO, with bullish logic temporarily dominating market expectations.

"Base's 'Onchain Summer' Has Finally Arrived"

The US has officially passed the "GENIUS Act," the first legislative recognition of the compliance of crypto assets, sparking financial giants' accelerated layout of on-chain infrastructure. JPMorgan Chase has launched a deposit token JPMD based on the Base chain, attempting to improve institutional settlement efficiency in an on-chain manner. Coinbase, on the other hand, has applied for a tokenized stock trading license, building an integrated ecosystem from stablecoin payments to stock trading, and continuously expanding scenarios such as stablecoin e-commerce payments and on-chain perpetual contracts, creating a compliant financial operating system. The deep integration of traditional finance and the crypto ecosystem has ushered in an era of institutional restructuring driven comprehensively by regulations, platforms, and assets in the crypto market.

"24-Hour Surge of 400x, What Concept is Gorbagana Trading?"

The $GOR token on the Solana blockchain was born out of a debate on blockchain legitimacy and trademark control, and surged 400% within 48 hours, with a market cap surpassing $40 million at one point. The event began with Delphi Labs legal advisor Gabriel Shapiro questioning the legality of "decentralization," prompting Solana co-founder Toly's response and sparking the community-driven meme coin "Gorbagana," symbolizing brand satire and a decentralized experiment. In this crypto feast, on-chain whales entered skillfully to arbitrage, while some retail investors and KOLs chasing highs got trapped, reflecting the tension between narrative-driven behavior and on-chain gaming.

"Dominating Entry into Stablecoins, Liu Qiangdong Officially Initiates JD's 'Second Payment Revolution'"

Liu Qiangdong announced that JD.com will fully enter the stablecoin field, planning to apply for licenses in major currency countries globally, leveraging blockchain to achieve cross-border payments with 10-second settlement and a 90% cost reduction, driving the restructuring of the payment system from B to C. This not only reflects a reconsideration of the missed golden period of domestic payment, but also a crucial step in JD's internationalization strategy. Compared to traditional banks and third-party payments, stablecoins have advantages such as efficiency, low cost, and ease of compliance, becoming a core infrastructure in JD's global e-commerce layout. Stablecoins will also be the new engine for JD's attempt to reverse the "five lost years."

"Arthur Hayes' Prediction: Bitcoin to Surge to $250,000 by Year End, Altcoins Unlikely to Recapture Mass Rise"

Arthur Hayes predicts that Bitcoin is likely to surge to $250,000 by the end of the year, and is pessimistic about most altcoins as they are unlikely to rise again due to a lack of product-market fit and realizable revenue. He believes the market will undergo asset revaluation due to money printing and fiscal stimulus in various countries, with Bitcoin standing out for its scarcity and decentralization. Compared to full decentralization, users are more concerned about platform liquidity and product experience. He points out that the current Alpha is overheated but lacks fundamental support, and when selecting coins, attention should be paid to narratives and cash flow feedback. The geopolitical relationship between China and the US will gradually drift apart, and emerging markets may benefit. His fund values steady returns and long-term positioning, and is preparing to acquire profitable crypto companies through SPACs.

"Investor Ma Gang's Multi-faceted Roles: Bubble Mart Investor, Binance Advocate, Bitcoin Evangelist"

Ma Qiang, a venture capitalist who was once seen as an "outsider" in the mainstream VC world, was not only the first angel investor in Pao Pao Mart, but also a staunch advocate of Bitcoin in the early days and an investor in OKCoin, which facilitated the emergence of the two crypto giants OKX and Binance. He has strategically positioned himself at the intersection of trendsetting and the crypto track, incubating several industry-changing projects through early trend recognition, profound insight into human nature, and long-term trust in entrepreneurs. Behind his "unconventional" investment philosophy lies a commitment to the original aspirations of entrepreneurship and personal values.

"Exclusive Interview with Infini Co-Founder: Why Did We Shut Down the U Card Business?"

Infini announced the closure of its U Card business, marking its official transition from crypto payments to on-chain financial services. Co-founder County Lord reflected that while the U Card had rapidly acquired customers, it gradually became a resource drain due to high compliance costs, low refund efficiency, and misjudgment of the business model. The team realized that "reverting" stablecoins to the traditional banking system was not a true breakthrough and decided to return to their original intention, focusing on simplifying complex DeFi yields into user-friendly financial products. In the future, Infini will focus on building a countercyclical, high-yield, decentralized crypto financial platform, with the long-term goal of using stablecoins for direct consumption to drive true on-chain payment innovation.

"The 'MicroStrategy Effect' Sweeps the US Stock Market: 30 Companies Buying Bitcoin as Reserves, Average Stock Price Soars 400%"

More and more US-listed companies, especially small and medium-sized enterprises, are mimicking the MicroStrategy model by adding crypto assets such as Bitcoin and Ethereum to their balance sheets. They are attempting to reshape valuation logic and financing capabilities through crypto reserves, forming a new narrative path for short-term stock price surges. Although this trend has attracted attention and speculation in the capital markets and has received endorsements from some corporate giants, it has also raised questions about manipulation, leverage risks, and regulatory concerns. Finding a balance between crypto allocation and sound business practices will be a key test of whether this trend can be sustainable in the long term.

"$Launchcoin Ecosystem Rejuvenation: A Review of Five Potential Projects on the Believe Platform"

The ICM (Internet Capital Market) narrative triggered by $Launchcoin is returning to a "product-driven" approach after experiencing a brief bubble and trust crisis. Despite early project issues such as deletions and founder disappearances, the rise of quality projects like $Kled, Polycule, Knet, Jatevo, and Fitted has restored market confidence, bringing $Launchcoin's market capitalization back to $200 million. These projects are strategically positioned in various niche areas such as AI data intermediation, on-chain predictive trading, AI game development, LLM reasoning, and AI-driven fashion consumption, with practical implementation capabilities and ecosystem flywheel design. They represent the evolution direction of the ICM model under the Believe platform. The alignment of narrative promotion and product validation is opening up a new paradigm for on-chain entrepreneurial financing, and the ICM ecosystem is poised to enter a new stage of sustainable development and coexistence of structural opportunities.

"Left Hand Plasma, Right Hand Stable: Will the Stablecoin King Squeeze Tron?"

Tether has regained the on-chain narrative power of stablecoins through three key strategic moves: first, by launching the Plasma public chain to achieve zero-fee USDT transfers and bridge the gap between Bitcoin reserves and stablecoin settlement, potentially generating over $1 billion in annual profits; second, by introducing the institution-oriented StableChain to deeply involve in commodity trading and cross-border settlement scenarios; and third, by preparing to launch a payment-oriented stablecoin domestically in the U.S., entering the core area of bank wire transfers. Against the backdrop of increasing "taxation" on public chains like Tron and the imbalance in USDT on-chain value capture, Tether is actively trying to establish a comprehensive stablecoin settlement network to create a closed-loop ecosystem that controls the entire issuance, circulation, and redemption process of stablecoins.

"Interview with Tether CEO: I'm Not Envious of Circle's IPO, I'm Investing in Dairy, Buying Land, and Working on AI"

Tether CEO Paolo Ardoino emphasized at the Bitcoin Conference and in a CNBC interview that USDT has reached around 420 million users globally, especially serving as a savings tool in countries with severe currency devaluation. He stated that Tether is investing in agriculture, dairy, AI, brain-machine interfaces, and other areas to build a long-term stable asset base and promote the widespread use of stablecoins in Africa and Latin America through grassroots efforts. When asked about compliance, audit transparency, and the "Genius Act," he responded that Tether has relocated its registration to El Salvador and initiated constructive discussions with the Big Four accounting firms to facilitate a full audit. He underscored that Tether serves the 3 billion people globally overlooked by banks, highlighting the fundamental differences between its stablecoin project and traditional financial system projects.

"Arthur Hayes: Stablecoin IPO Is a 'Dead End,' But I Advise You Not to Short"

The stablecoin market is undergoing a grand narrative reconstruction: what appears to be a tool for technical innovation and the internationalization of the U.S. dollar is actually a financial power game dominated by distribution rights, regulatory arbitrage, and macro interest rate differentials. The article, with a satirical and critical perspective, reveals how Tether leveraged the crypto arbitrage ecosystem in Greater China to complete a cold start, product fit, and network effects, while Circle, lacking genuine distribution capabilities, pursued a high valuation IPO with the backing of Coinbase, reflecting the vulnerability of stablecoin projects reliant on external support. With the entry of Web2 social platforms and traditional banks, players with native user distribution channels will have a decisive advantage, leaving little room for new entrants. However, driven by speculators and bubble logic, a carnival of fundraising, listing, and further fundraising will continue. Ultimately, the profit core of stablecoin issuers lies in controlling NIM and distribution channels rather than the technology itself.

"Exclusive Interview with Hyperlend Co-founder: HYPE Compared to BNB Significantly Undervalued, HyperEVM Has Infinite Possibilities"

Following the $JELLYJELLY incident that sparked controversy, Hyperliquid, now with its record-high $HYPE price and the continued expansion of the HyperEVM ecosystem, has once again gained market recognition. As the core lending protocol, Hyperlend's co-founder @0xNessus elaborated on the innovative path of tokenizing liquidity, holdings, and perpetual contracts, emphasizing that Hyperliquid places more emphasis on on-chain transparency and composability compared to Binance. The team has been quick to respond to community feedback and is continuously optimizing performance and user experience. In Nessus's view, $HYPE is still undervalued, and with the ongoing strengthening of the on-chain ecosystem and buyback efforts, it has the potential to increase several times in the future, aiming to become a representative asset with dual value support from both exchanges and public chains.

"Web3 KOL Marketing Evolution: From Grassroots to Platform, Which Is More Effective?"

This article systematically analyzes the current status and trends of KOL marketing in the Web3 field. Although mainstream marketing agencies manage thousands of KOLs, the core accounts that truly have an impact are often fewer than a hundred, and high-quality KOLs are extremely scarce. Quality of content and audience stickiness are the standards of measurement compared to the number of followers. Traditional advertising channels have limited effectiveness, and tools like Kaito and Cookie DAO are driving decentralized experiments of micro KOLs and ambassador mechanisms, but they also face issues such as audience overlap and low exposure. The author believes that truly effective marketing relies on long-term trust building, natural interaction, and multi-platform engagement, emphasizing the importance of high-signal-to-noise platforms like Telegram and Substack, and calling on Web3 projects to move away from the misconception of "winning by hype."

"From Silence to Breaking the Circle, What Are the High-quality Targets on Letsbonk.fun?"

After experiencing the community's questioning and downturn of Launchpad projects in April, the Bonk ecosystem recently underwent a reboot under the leadership of founder Tom. The platform reignited community enthusiasm through initiatives such as hackathons and token buybacks. Among them, $USELESS broke through a $1 billion market cap with a self-deprecating narrative of "uselessness is belief," $HOSICO built a unique meme universe with its orange cat image, $IKUN connected the Chinese community, $NYLA focused on on-chain AI agent operations, and $DEL emerged as a dark horse in the hackathon. The Bonk ecosystem is completing a self-repair and growth loop from the consensus, product, and funding aspects, becoming a rare source of internal energy in the current bear market.

"Embracing Bitcoin: Why Even Altcoin Founders Are Selling Off to Get BTC?"

Cardano founder Hoskinson's recent remarks have sparked attention, as he suggested that the altcoin treasury should be converted to Bitcoin, acknowledging Bitcoin's irreplaceability in long-term value. This viewpoint reflects the widespread penetration of the Bitcoin "speculative attack" theory, which involves selling off other assets for Bitcoin in pursuit of appreciation. The outstanding performance of Bitcoin treasuries further confirms this trend, with an increasing number of institutions consolidating their assets into Bitcoin, indicating that Bitcoin is gradually becoming one of the core assets in the capital market.

"The Arrest of AEX's Huang Tianwei: From Entrepreneurial Myth to 180 Days of International Pursuit"

Huang Tianwei, a crypto veteran who once founded Bitian and the AEX platform, disappeared from the public eye after AEX's collapse in 2022, which saw a massive user asset drain. It wasn't until recently that he was arrested at a Thai airport for his involvement in a 44 million RMB fraud case. This arrest not only unveils his two-year fugitive journey but also reignites the demands for justice from tens of thousands of victims. Huang Tianwei established a Ponzi scheme under the guise of high-yield financial management, fled overseas after the platform's collapse, and now faces the possibility of extradition to China due to his involvement in a new fraud case in Thailand. The AEX collapse incident has now entered the phase of judicial accountability, reflecting the grim reality of the chaos in crypto trading platforms and the complexities of cross-border law enforcement.

"a16z Partner: In the AI Era, There Is No Moat, Only Speed"

The AI-driven new consumption cycle is reshaping product logic and business models, gradually replacing traditional social products centered around "connecting people" with task-completing utility products. Representing this trend are tools like ChatGPT and Runway. While the monetization capabilities of AI tools have significantly increased, truly AI-native social platforms have yet to emerge. The social connection structure, individual expression mechanisms, and personality modeling are still in the early stages of exploration. The future social paradigm may be reconstructed by forms like "digital selves," "AI avatars," and "voice agents," shifting the core of platform competition from user networks to model capabilities, iteration speed, and deep system integration. In this structural transformation, speed becomes the most critical moat in the AI era.

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