BlockBeats will organize the key industry news content of the week (6.9-6.15) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
Israel launched a strike against Iran, and the U.S. stock market and the crypto market plunged sharply, with more than $1 billion liquidated in a single day
On June 13, Israel launched an attack on Iran, and the Chief of Staff of the Iranian Armed Forces, Mohammad Bagheri, was assassinated. Israeli Defense Minister Katz said that there will be missile and drone attacks against Israel and its civilians in the near future. One hour after the attack, the entire crypto market was liquidated by $382 million, and the total market value of cryptocurrencies evaporated by about $184 billion in nearly 24 hours. On that day, perhaps affected by risk aversion, the transaction volume of "gold tokens" exceeded $410 million in the past 24 hours. Among them, PAXG's 24-hour transaction volume reached $190 million, and XAUT's 24-hour transaction volume was $67.05 million. Israeli sources said that the action against Iran may take at least a few days, but it may also last more than two weeks. This depends on a variety of factors, including Iran's response, the participation of the United States, and so on. Related reading: "A $1 billion liquidation, what is the impact of previous international wars on Bitcoin?" , "The Middle East crisis has become a crypto killer again, and BTC's four-hour line has fallen for seven consecutive times"
Musk took the initiative to "give in" and regretted posting about Trump; Trump responded that he "may" mend relations with Musk
After a long-distance "fight" with Trump, Tesla's stock plummeted and Musk's net worth shrunk by $100 billion. This week, Musk took the lead in "apologizing" and said that he regretted some of his posts about US President Trump last week, and the content of the posts was too much. Trump then said that he "might" mend relations with Musk, but a potential reconciliation is not a top priority at the moment. In the interview, Trump said: "I don't "blame" Musk for destroying our alliance, but I'm "a little disappointed." I have no malice, and I'm really surprised that it happened. He criticized a great bill... I actually think he is very regretful for what he said. "
ConsenSys founder: LINEA tokens will be issued soon
On June 14, in response to questions about whether MetaMask would issue tokens, ConsenSys founder Joseph Lubin said, “We have developed short-term and medium-term plans and strategies, the core of which is to protocolize existing products and other plans. The Web3 protocol cannot be separated from tokens. The first one to go online will be LINEA, which will be launched soon. More content will be announced soon.”
X platform suddenly banned a large number of Crypto users, Eliza, GMGN Official Twitter and many KOL accounts were banned
On June 12, the X platform suddenly banned a large number of Crypto users. Eliza, GMGN Official Twitter and a number of MEME KOL accounts were banned, including Wolfy_XBT, Wang Xiaoer, 0xCryptoWizard, Ga__ke, GMGN official account, haze0x, etc. The specific reason is unknown. Crypto KOL AB Kuai.Dong said on the same day that the X platform ban wave may be caused by crawling X data and tagged matrix. Related reading: "Twitter banned the first collective account of the crypto. Is Musk angry about meme?"
SEC officially repeals Gary Gensler-era tough proposals for DeFi and custody
On June 10, according to the DeFi Education Fund, the U.S. SEC Crypto Working Group held a roundtable on "DeFi and the American Spirit" on the same day. At the beginning of the roundtable, U.S. SEC Chairman Atkins talked about how decentralized finance (DeFi) fits in with American values: "Economic freedom, private property rights, and innovative American values are the core genes of the decentralized finance (DeFi) movement." In addition, Chairman Atkins emphasized that developers of neutral tools should not be held responsible for the actions of third parties: "Engineers should not be subject to federal securities laws simply for publishing such software code. As one court stated, it is irrational to hold the developer of an autonomous vehicle responsible for third parties using the car to violate regulations or rob a bank - quoting the court's ruling, "In this case, people will not sue the car company for accusing it of contributing to the illegal behavior, but will sue the individuals who committed the illegal behavior. "
Then on June 13, the U.S. Securities and Exchange Commission officially withdrew several proposed rules on Thursday that would have imposed stricter regulation on DeFi and cryptocurrency custody. The proposals were made under the leadership of former Chairman Gary Gensler, who led the agency's "enforcement and regulatory" approach. The repealed proposals include proposed revisions to Rule 3b-16 of the Exchange Act, issued in April 2023. The proposal attempted to expand the definition of an exchange, specifically to bring decentralized financial platforms under the regulation of national securities exchanges. The proposal has drawn criticism from all sides of the industry. Related reading: "SEC Chairman "gives the green light", is DeFi Summer about to make a comeback?"
Bloomberg reported that Tencent planned to acquire Nexon, the developer of DNF and MapleStory; the rumor was denied the next day
On June 12, Bloomberg reported, citing people familiar with the matter, that Tencent Holdings Ltd. is studying a potential deal to acquire South Korean game company Nexon and has contacted the family of Nexon's late founder, Kim Jong-joo, to discuss the possibility of an acquisition. It is reported that the Kim family is discussing with consultants and evaluating various options. People familiar with the matter said it is unclear how willing NXC is to sell its stake in Nexon, and there is no guarantee that Tencent's negotiations will lead to a deal, and the specific transaction structure has not yet been finalized. Tencent representatives did not respond to requests for comment, and both Nexon and NXC declined to comment. Affected by the news, MapleStory game token NXPC rose by more than 11% in a short period of time. The next day, according to a source close to Tencent, "Tencent has not contacted the founder's family to discuss the transaction, nor has it considered acquiring Nexon."
Former AEX trading platform member: AEX founder Huang Tianwei arrested in Thailand
On June 12, Deng Chaohua, a former member of the AEX (Anyin) trading platform, disclosed that AEX founder Huang Tianwei had been arrested at the Mae Sai District Police Station in Chiang Rai Province, Thailand. It was previously reported that on July 14, 2022, the crypto trading platform AEX collapsed and closed the withdrawal function, saying that it was unable to meet users' withdrawal needs due to short-term liquidity problems. On the same day, AEX officially issued an announcement stating that "according to the requirements of the Guangxi police, the platform-related services will be suspended at 15:32 (UTC+8) on July 17, 2022, and the police investigation will be fully cooperated. Please wait for the police announcement in the future."
A crypto investor used a cold wallet purchased on TikTok, and assets worth 50 million yuan were stolen overnight
On June 14, according to SlowMist CISO 23pds, SlowMist received an urgent request for help last night. The cryptocurrency worth 50 million yuan in an investor's cold wallet was robbed. It is reported that the investor's "cold wallet" was purchased through the Douyin channel, and the private key was stolen at the moment it was generated. The huge assets were washed away through Huiwang within a few hours. 23pds warned that investors must purchase cold wallets through official and formal channels. 99% of the so-called "brand new and unopened" and "special sale" cold wallets on the Internet are fake and may have been tampered with.
"ETH Micro Strategy" SharpLink Gaming submitted documents to the SEC to report "PIPE investors selling holdings", and the stock price plummeted by about 70% after the market
On June 13, SharpLink Gaming (SBET), a Nasdaq-listed company that is seeking an Ethereum reserve strategy, plunged about 70% in after-hours trading on Thursday after submitting new documents to the U.S. SEC. It is reported that the company submitted an S-3ASR registration statement, which allows the resale of up to 58,699,760 shares of more than 100 shareholders related to its private equity investment (PIPE) financing. The market once believed that the statement indicated that PIPE investors had sold their holdings. Chairman of the Board Joseph Lubin posted on the X platform that the market "misread" the S-3 document, which only pre-registered shares for potential resales. It is a standard procedure after PIPE transactions in the traditional financial field and does not represent actual sales. Earlier this month, the company raised $450 million through PIPE. Investors included many institutions such as ConsenSys, Galaxy and Pantera Capital. The funds raised will be used to acquire ETH as its reserve assets. Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, also joined the company as chairman of the board. On the same day, SharpLink Gaming officially spent $463 million to buy 176,271 ETH, becoming the company with the most Ethereum among listed companies. Related reading: "The capital game behind the 100% premium: Is SharpLink's ETH bet just beginning?"
SEC releases key signal: Solana ETF is back on the agenda
On June 11, the U.S. Securities and Exchange Commission (SEC) issued a notice to several institutions that intend to issue Solana spot ETFs, requiring them to resubmit a revised S-1 document within 7 days, focusing on the wording of the "physical redemption mechanism" and "pledge terms". This move was seen by the market as a clear signal of a change in the regulatory attitude, and it quickly ignited bullish sentiment. The price of SOL immediately rose, breaking through $165 in the short term, and the daily increase once reached 5%.
Cardano founder proposes to convert $100 million worth of ADA into BTC and stablecoins
On June 13, according to CoinDesk, Cardano founder Charles Hoskinson proposed in a live broadcast to use $100 million ADA in the treasury to exchange for Bitcoin and stablecoins (USDM, USDA) to increase the proportion of stablecoins on the chain and the DeFi ecosystem. Charles Hoskinson said that this move will not impact the ADA market and refuted liquidity concerns. Currently, stablecoins on the Cardano chain only account for about 10% of TVL, far lower than the scale of Solana's stablecoin ecosystem. The proposal is at odds with the view of Frederik Gregaard, CEO of the Cardano Foundation, that "TVL is not a key indicator."
Walmart and Amazon are exploring issuing their own stablecoins
On June 13, WSJ reported that some of the world's largest retailers are exploring how to issue or use stablecoins, which could move a large number of cash and card transactions they process outside the traditional financial system, saving them billions of dollars in fees each year. According to people familiar with the matter, multinational giants such as Walmart and Amazon have recently studied whether to issue their own stablecoins in the United States. Cryptocurrencies issued by companies may divert payment activities from banks and the traditional financial system.
Trump's immigration "gold card" is priced at $5 million, and more than 15,000 people have entered the waiting list
On June 12, Trump posted on TruthSocial that the immigration "gold card" is open for registration and costs $5 million. Earlier on February 26, Trump said that a plan was being launched to provide residency and naturalization to investors who paid $5 million, which provided a new path for legal immigration and was also a comprehensive crackdown on undocumented immigrants. Trump said, "This plan, called the "gold card", does not require congressional approval and will be priced at about $5 million. It will give you green card privileges." Currently, more than 15,000 people have joined the waiting list for the gold card.
The U.S. Senate passed the procedural vote on the GENIUS Stablecoin Act
On June 12, the U.S. Senate passed the procedural vote of the GENIUS Stablecoin Act (Guidance and Establishment of the United States Stablecoin National Innovation Act) by 68 to 30 votes on Wednesday local time, which will initiate the full house debate and final Senate vote on the bill. If the Senate finally passes the bill, it will be submitted to the House of Representatives for further deliberation. If the bill is finally passed, it will become the first comprehensive federal legislation in the United States targeting crypto assets. The core goal of the bill is to provide a comprehensive solution for stablecoin regulation.
Ant Group will apply for stablecoin licenses in Hong Kong and Singapore; Vice President responded: Multiple rounds of communication with regulators have been held
On June 12, Bloomberg reported that Ant Group's international department is planning to apply for stablecoin licenses in Hong Kong, China and Singapore. People familiar with the matter said that Ant International, headquartered in Singapore, will apply for a stablecoin issuer license in Hong Kong as soon as Hong Kong's "Stablecoin Issuer Regime" takes effect in August. The company also plans to seek a license in Luxembourg. People familiar with the matter said the move is aimed at strengthening the company's blockchain business to support its cross-border payment and fund management services. They said that Ant Financial processed more than $1 trillion in global transactions last year, one-third of which was processed by its blockchain-based Whale platform. On the same day, Bian Zhuoqun, vice president of Ant Group and president of Ant Digital's blockchain business, revealed in an interview with reporters that Ant Digital has started applying for a Hong Kong stablecoin license and has had multiple rounds of communication with regulators. On the same day, Hong Kong stocks Ant Financial concept stocks rose sharply, Yunfeng Financial (00376.HK) once soared 98%, Lion Holdings (02562.HK) rose nearly 15%, and Yaocai Securities (01428.HK) rose more than 12.5%.
Trump's birthday military parade will be held this Saturday, and "no king" protests broke out in 2,000 cities across the United States
June 14th coincides with the 250th anniversary of the founding of the U.S. Army, Trump's 79th birthday and American Flag Day. Trump earlier said that he would "make a big deal" on this day and hold a large-scale military parade, and the event specifications would "surpass the World Cup and the Olympics." The Pentagon said the cost of the parade could be as high as $45 million. At the same time, Trump's opponents also staged large-scale protests on the same day. Progressive groups including the American Civil Liberties Union, the American Federation of Teachers, Planned Parenthood and Senator Bernie Sanders' campaign office held peaceful protests in more than 2,000 places across the United States. These demonstrations are called "No Kings Day" and are aimed at opposing what organizers call Trump's overstepping of his authority.
xAI announces partnership with Polymarket to bring GROK analysis to market forecasting
On June 11, Musk's xAI announced a partnership with prediction market Polymarket to combine market predictions with X data and GROK analysis. Related reading: "X and Polymarket cooperate, Musk is one step closer to the "App for Everything"
Coinbase to integrate Base Network DEX into main app and launch perpetual contracts
On June 13, according to market news, Coinbase will integrate the decentralized exchange (DEX) on the Base network into the main application to enable access to millions of on-chain assets. On the same day, Coinbase announced that it will launch perpetual contracts in the United States. Related reading: "Coinbase wants to be the "Binance of the United States"" , "Coinbase's big move: 4% Bitcoin cashback credit card + US compliant perpetual contracts"
The founder of Web3 Security Company said that the Hangzhou Public Security Department launched a special operation against blockchain practitioners; Kong Jianping, founder of Nano Labs, refuted the rumor
On June 10, Mirror Tang, founder of Web3 security company Salus, tweeted that some crypto industry practitioners in Hangzhou were verbally notified by the police to go to the police station. The interviewees were required to bring laptops and cooperate with data collection, information recovery and transcripts on site. The interviewees claimed that the collection equipment used by the police recovered the chat records in the uninstalled Telegram and Slack software. The news once caused panic among crypto users, but many people also questioned the news.
Jack Kong, founder of Nano Labs, posted on a social media platform, "As far as I know, neither Zhejiang nor Hangzhou has launched any special operations against blockchain industry practitioners, and the public security department has not taken any action either. The cases involved may be related to anti-fraud." Earlier, there was community news that the Hangzhou police were conducting a systematic investigation of cryptocurrency practitioners.
Ethereum developers and foundation directors have a dispute, EF is said to offer $5 million to divest the Geth development team
On June 11, Ethereum developer Péter Szilágyi and Ethereum Foundation co-executive director Tomasz Stańczak had a dispute. Szilágyi said that as a key member of the Geth (Go Ethereum main client software) development team, the foundation has proposed several times in the past to bid $5 million to allow the Geth team to be independent and separated from the foundation, but Szilágyi and his team members rejected the proposal and chose to stay within the foundation. Earlier, the Ethereum Foundation provided $5 million in unconditional financial support to Parity (another Ethereum client development company) to ensure that the Ethereum network has multiple clients and reduce its dependence on Geth, which shows that the foundation has long intended to disperse client development responsibilities. Tomasz Stańczak, co-executive director of the Ethereum Foundation, issued a statement to clarify, "There is no plan to remove Geth. It is a great client software and a talented team that contributes to the security of the protocol. We will maintain and support Geth." Related reading: "Horse racing, infighting, layoffs, a peek into the power struggle in the core circle of Ethereum"
Trident announces up to $500 million XRP treasury financing plan and appoints Chaince Securities LLC as strategic advisor
On June 12, according to market news, Trident announced a plan to raise up to $500 million in XRP treasury financing and appointed Chaince Securities LLC as a strategic advisor. Related reading: After a $100 million lawsuit, XRP no longer wants to be a "cult coin"
The CLARITY Act amendment to prohibit Trump from profiting from crypto assets was rejected
On June 11, the CLARITY Act, a U.S. digital asset market clarification bill, was being reviewed by the U.S. House of Representatives Financial Services Committee and the Agriculture Committee. Amendment #2, "Prohibiting President Trump and his family from profiting from trading or promoting crypto assets," was rejected. Chairman Thompson said this was not the place to discuss the president's ethics. The remaining amendments reviewed included: Amendment #1, "Fully reauthorizing the CFTC (U.S. Commodity Futures Trading Commission)," was rejected; Amendment #6, "To enable the CFTC to collect more fees from market participants," was passed.
LD Capital founder JackYi reiterated his bullish view on ETH, and Trend Research holds 142,000 coins
On June 10, JackYi, founder of LD Capital, once again published an article reiterating his firm bullish view on Ethereum and its ecological tokens. He said that he currently holds 100,000 ETH options long positions and believes that the Ethereum ecosystem is undervalued for the following reasons: ETH tokens themselves are undervalued, and he is optimistic about the rebound of the ETH/BTC exchange rate during the bull market; after the relaxation of encryption policies, projects with real income, users, and products will be the first to benefit from the inflow of traditional capital; Wall Street funds are flowing into Ethereum to build positions recently. Trend Research, a subsidiary of LD Capital, is openly bullish on ETH and currently holds 142,000 ETH, with a floating profit of 42.35 million US dollars. Related reading: "Trend Research: Written on the eve of the surge, why are we optimistic about ETH"
Binance Alpha launched multiple airdrops and TGE projects this week, and the points threshold and claim rules were gradually raised. Details for this week are as follows:
June 9
· Points ≥ 236 can receive 800 SKATE airdrops, and 15 points will be deducted;
· If your points are ≥198, you can claim 61 SERAPH airdrops without consuming points.
June 10
· Points ≥ 236 can receive 2,500 HOME (Defi App) airdrops, and 15 points will be deducted;
· Points ≥ 239 can receive 400 RESOLV airdrops, and 15 points will be deducted;
June 11
· Points ≥ 229 can participate in MEET48 TGE, 15 points will be deducted.
June 12
If your points are ≥237, you can receive 8 PUNDIAI (PUNDI AI) airdrops and 15 points will be deducted.
June 13
· Points ≥ 247 can receive 372 ROAM airdrops, opening time is 21:00 (UTC+8), 15 points will be deducted;
June 14
· If the points are ≥ 245, you can receive 13,862 DEGEN airdrops and 15 points will be deducted.
Binance Alpha Financial Center is launched; some airdrop rules are modified
On June 11, according to the official announcement, Binance Wallet officially launched the Binance Alpha Financial Center. Through this function, users can provide liquidity for eligible Binance Alpha token pools, earn annualized income rewards and obtain more Binance Alpha points. The points will enhance the user's eligibility to participate in wallet-exclusive activities, such as: Token Generation Events (TGE) and airdrops. On the same day, Binance released the Alpha Trading Competition Qualification Instructions: Only purchases using Alpha tokens or spot tokens are considered valid. On the 14th, Binance posted on social media that starting from June 19, 2025, the Binance Alpha airdrop will be distributed in two stages: the first stage: users who meet the score (X) can receive it first, and everyone has a share; the second stage: the threshold is reduced to Y (Y < X), first come first served, until the prize pool is distributed or the event ends.
The mint-colored LABUBU was sold at a sky-high price of 1.08 million yuan, and the meme of the same name rose by more than 50% on the same day; China Business News issued an article to warn of the risk of speculation
On June 10, according to official data from Yongle Auction, the world's only mint-colored LABUBU was unveiled at Yongle's 2025 Spring Auction, with a hammer price of 1.08 million yuan, and the auction has been closed. The size of this LABUBU is 131cm high, made of PVC, and the color is mint. On the same day, the market value of Solana Ecological Meme Coin LABUBU, which is based on the Pop Mart trendy play IP, exceeded 39 million US dollars, with a 24-hour increase of 58.87%.
On the evening of the 12th, China Business News published an article titled "The crypto has set its sights on LABUBU, and there are huge risks behind the illegal hype of "games". The article pointed out that a virtual currency called "LABUBU" has recently been quietly launched with the help of the popularity of the trendy IP, and has been listed for trading on multiple exchanges. In the early days of its launch, the price of the virtual currency once rose sharply, but then fell sharply. The article also shows that the LABUBU coin was not officially issued by Pop Mart, but was launched by a group of community-driven developers. Industry insiders reminded that the launch of the LABUBU coin is a typical speculative behavior in the crypto, and its huge price fluctuations also fully expose the extremely high investment risks behind it. Most of these projects are worthless, and their essence is fraud and pyramid schemes.
Michelle Bowman sworn in as Vice Chair for Supervision of the Federal Reserve Board
On June 10, according to the official announcement of the Federal Reserve, Michelle Bowman was sworn in as Vice Chairman of Supervision of the Federal Reserve Board on Monday. The swearing-in ceremony was presided over by Federal Reserve Chairman Powell in the press room of the Board of Governors. Trump nominated Ms. Bowman for the position on March 24, 2025, and was subsequently confirmed by the U.S. Senate on June 4. Her term as Vice Chairman of Supervision will end on June 9, 2029, and her term as a member of the Board of Governors will last until January 31, 2034. Related reading: "The Federal Reserve welcomes a new head of supervision. Is the last hawkish bastion going to loosen?"
Fed appoints Michael Horowitz as new inspector general to oversee internal oversight
On June 9, the Federal Reserve recently announced that Michael Horowitz will serve as the new Inspector General of the Federal Reserve, replacing Mark Bialek, who has served in the position since 2011 and retired in April this year. As the Federal Reserve Inspector General, he will also be responsible for independent supervision of the Consumer Financial Protection Bureau (CFPB). His previous position was the Inspector General (IG) of the Department of Justice. The Federal Reserve's Inspector General is selected by the Chairman, which is unusual among government regulatory agencies. Some senators believe that this arrangement prevents the Inspector General from truly supervising the Federal Reserve, and they have proposed legislation requiring the President to select the Inspector General and then confirm him by the Senate. After the Federal Reserve's insider trading scandal, the Federal Reserve Inspector General has become the focus of public attention. The agency is responsible for judging whether the trading behavior of some Federal Reserve officials meets ethical requirements.
Pakistan plans to invest surplus electricity in Bitcoin mining and AI
On June 13, it was reported that Pakistan is using 2,000 megawatts of surplus electricity for Bitcoin mining and artificial intelligence to reduce waste and promote technological development. As of March 2025, Pakistan's installed power generation capacity is 46,600 megawatts, a slight increase from the previous year. Nearly 14% of the installed capacity is idle, especially during the off-peak winter season, when demand may drop to 12,000 megawatts. Pakistan aims to convert the surplus electricity of Pakistan's underutilized thermal power plants into a source of income through Bitcoin mining and artificial intelligence data centers. The first phase of Pakistan's Bitcoin mining plan was launched in 2025, allocating 2,000 megawatts of electricity for mining and artificial intelligence data centers.
This week's big rounds: Turnkey, Noah, Hypernative, Try Your Best, OneBalance, Yupp
On June 9, crypto wallet infrastructure company Turnkey completed a $30 million Series B financing round led by Bain Capital Crypto. Turnkey was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney to help developers build user-friendly wallets using APIs.
On the 10th, according to Fortune, the stablecoin startup Noah completed a $22 million financing round led by European venture capital firm LocalGlobe. Thijn Lamers, a former executive of financial technology giant Adyen, joined as co-founder and president.
On the 10th, Axios reported that Web3 security company Hypernative completed a $40 million Series B financing, led by Ten Eleven Ventures and Ballistic Ventures. Hypernative completed a $16 million Series A financing in September 2024.
On the 11th, the blockchain-based loyalty platform Try Your Best (TYB) completed a $11 million Series A financing round, led by Offline Ventures and Strobe Ventures. Consumers on TYB can participate in gamified challenges, win digital collections, and have a blockchain-based loyalty profile.
On the 12th, the trusted account framework project OneBalance completed a $20 million financing round, led by Cyber Fund and Blockchain Capital. The total financing of the project has reached $25 million.
On the 13th, Yupp completed a $33 million seed round of financing, led by a16z. The Yupp platform allows users to compare various AI models for free. Users can enter prompts and view answers generated by multiple AIs in parallel. After selecting the best result, a "preferred data package" is formed, which is used for post-training and evaluation of AI models.
This week's hot articles
"Investigating Bullish: The parent company buy the dips 160,000 BTC and made billions in 6 years"
Block.one, which created EOS and raised $4.2 billion, is now betting on the new trading platform Bullish to return to the main field of the crypto, and has secretly submitted an IPO application, aiming directly at a compliant listing. Backed by huge assets and Wall Street background, Bullish has moved away from the EOS technical route, turned to a pro-US stock and USDC regulatory stance, and became the CEX that "most wants to become a regular army"in the crypto. Although the road to listing is bumpy and it has broken with the EOS community, with more than 160,000 bitcoins in reserve and a clear compliance strategy, Bullish may become the next "new darling" to cross the bull and bear markets, while Block.one has completed a thorough transformation from a technical idealist to a crypto-financial capitalist by holding coins and capital layout.
"Twitter bans crypto accounts for the first time. Is Musk angry about memes?"
The X platform has recently banned several cryptocurrency-related accounts, including official accounts such as GMGN and Eliza and their founders, which has attracted widespread attention from the community. Although there are claims that the ban is related to specific memes or crawler behaviors, there is a lack of solid evidence. X's new algorithm Grok may lead to collective bans due to user reports, content patterns or misjudgments, reflecting that the platform's content governance is evolving towards automation and centralization. This phenomenon reminds people of Weibo's early crackdown on the crypto, and has also prompted decentralized social platforms such as Farcaster to gain attention again. Faced with increasingly tightened platform strategies, crypto content creators urgently need to improve risk awareness and account security.
Horse racing, infighting, layoffs, a peek into the power struggle in Ethereum's core circle
The conflict between Ethereum core developer Péter Szilágyi and the Foundation has completely intensified. The reason is that the resources of the Geth team have been marginalized for a long time, but the Foundation funded the establishment of a "second Geth team" within Nethermind without informing the public, which eventually led to Szilágyi's dismissal. The incident revealed the deep cracks in Ethereum's internal governance: on the one hand, it pursues multi-client security, while on the other hand, it ignores Geth's long-term core role and contribution, triggering the community's deep reflection on the distribution of power, fairness and decentralization. With the advancement of the Foundation's reform and treasury reorganization, this technical and governance conflict may continue to ferment.
《Coinbase wants to be the "Binance of America"》
Coinbase released several major updates in one day: not only did it integrate the DEX on the Base chain into the main application, it also reached a cooperation with Shopify to open USDC payment channels in 34 countries around the world, and announced that it would launch CFTC-regulated 24/7 perpetual contracts in the United States and issue crypto credit cards with American Express. This series of actions shows that Coinbase is opening up a full-link compliance ecological closed loop between CeFi and DeFi, online and offline, retail investors and institutions, and intends to compete head-on with Binance and OKX in multiple tracks such as stablecoin payments, derivatives trading and on-chain infrastructure.
"TON, which no one pays attention to, is making a comeback with NFT"
After Telegram upgraded the "gift" to an NFT with wearable and trading functions, the market heat on the TON chain exploded, and the daily transaction volume once surpassed Ethereum. Behind it are the official issuance, deep integration of social scenarios, and convenience of off-chain transactions, forming a "QQ Show-style" gameplay that is completely different from traditional NFTs. The TON NFT market quickly broke through the circle based on Telegram's native users, and the off-chain and on-chain ecosystems gradually merged, becoming one of the most representative examples of the trend of NFT practicalization.
"KTA conspiracy group exposed, revealing former Google CEO Schmidt's extramarital affair history"
The Keeta project has recently been hit by a trust crisis due to questions about testnet fraud, patchwork of white papers, invalid SDKs, and other issues, causing its token $KTA to plummet by 20%. Chain detective ZachXBT also pointed out that its technical strength is questionable and the token issuance model is outrageous, triggering public opinion. Keeta previously claimed to have received investment from former Google CEO Eric Schmidt, but in fact it was invested by Steel Perlot, a company with emotional and business entanglements. The company has been completely shut down due to a lack of funds. The community's doubts about Keeta's endorsement fraud, trading behavior, and valuation bubble continue to heat up. If the so-called "tens of millions of TPS" does not meet expectations, Keeta may completely become an empty project.
After a $100 million lawsuit, XRP no longer wants to be a "cult coin"
Although it has long been regarded as an "old-age project", XRP is quietly completing the structural reconstruction from the payment chain to the multi-layer on-chain financial platform. More and more institutions regard it as a compliant and stable reserve asset and incorporate it into the financial system. Trident's latest announcement of an XRP treasury plan of up to US$500 million is a microcosm of this; in terms of ecology, XRPL gradually expands the use scenarios of institutions and developers through stablecoins, EVM side chains and the "XRPFi" financial protocol, quietly establishing a new value foundation in the absence of emotional hype.
"Sahara AI is about to issue a coin. How do the "InfoFi hits" perform after TGE?"
With its strong financing background and decentralized AI infrastructure positioning, Sahara AI has become a focus project in the recent infoFi boom and will launch a community public offering on Buildpad. In the "Mindshare era" promoted by Kaito, on-chain social activity has become an important indicator affecting airdrop allocation and market performance. Many projects (such as Huma, LOUD, Story, Berachain, Wayfinder, Initia) guide user participation through the Yap-to-Earn model, thereby achieving dual drive of community growth and market hype. The new model not only increases community participation, but also tries to break the problem of lack of consensus in traditional VC projects.
"Acquiring Privy, Stripe aims to be the Jupiter of stablecoins"
As the regulatory winds warm up and the infrastructure gradually matures, stablecoins are quietly becoming the core components of the next generation of payment networks. This article focuses on the latest strategic layout of payment giant Stripe - from restarting crypto payments, acquiring Bridge and Privy, to building a "full stack" of stablecoins covering front-end wallets and back-end clearing. This is not just a technological iteration, but Stripe's collective bet on the future of programmable currency. It sends an important signal: the popularity of stablecoins may not come from crypto-native, but will be driven by traditional technology giants such as Stripe.
The Echo platform launched a new product, Sonar, in an attempt to revive the compliant version of the "ICO model" and provide project owners with customized, decentralized, and compliant token public sale tools. The first project, Plasma, was supported by Tether, and the $500 million quota was sold out in a short period of time, attracting great attention from the market. Sonar supports multi-chain deployment and flexible sales rules, combined with the Echo community identity system, aiming to enable project owners to establish direct contact with investors, challenging the current information fragmentation and low participation in the LaunchPad model. In the context of the current warming of supervision and the return of the stablecoin craze, Sonar is expected to set off a new wave of decentralized fundraising.
Musk and Trump recently had an open conflict over the "Big, Beautiful Act", and their relationship took a sharp turn for the worse. The bill may weaken Tesla's carbon emission credit profits, causing Musk's dissatisfaction and causing Tesla's market value to evaporate by $150 billion. Although the two sides once released a signal of reconciliation, Trump later warned Musk that he would "pay a price" if he funded the Democratic Party, declaring that the relationship was over. Around the dispute between the two, politicians, businessmen and even the former president of Russia have expressed their views. The latest developments show that the two have turned to speak out together because of the California riots. Musk also seems to have released goodwill by reposting, implying that he is still in the Republican camp, and the future direction still depends on the final implementation of the bill.
"How did Web2 investor Lei Ming choose the stablecoin unicorn after spotting Circle in 2018?"
Circle successfully landed on the New York Stock Exchange and became the "first global stablecoin stock". Its market value once soared to 24 billion US dollars. Lei Ming, an early investor behind it, benefited greatly from his judgment of "license capabilities" and the potential of blockchain. Lei Ming believes that investment should return to its essence and seize the beta of the times. Today, AI, robots and globalization are becoming new outlets. As a founding partner of Zhuichuang Venture Capital, he is relying on the Zhuimi ecosystem to create hard technology projects with global competitiveness and promote the "China to Global" strategy, emphasizing both financial returns and ecological synergy, and is committed to building a high-certainty, high-growth fund system in the new cycle.
《Upbit’s golden age may have just begun》
Currently, South Korea is promoting the legalization of Korean won stablecoins and leveraged trading, and digital asset taxation is about to be implemented. Despite strict supervision and strong demand for leveraged trading, trading volume is expected to increase significantly. The government's top leaders support encryption and promote the development of the spot leverage system, but derivatives are still restricted. Play-to-Earn and Web3 game supervision is still strict, industry trust is damaged, and major companies turn to overseas. Upbit and Bithumb have become the focus of overseas projects, and the opening of leverage will trigger a new round of competition in the market.
Plasma, Tether's Trillion-Dollar Stablecoin Ambition
Plasma is a blockchain network designed specifically for stablecoins, featuring "zero-fee transfers", and is committed to becoming the standard for global digital dollar payment infrastructure. By not supporting general smart contracts and focusing on stablecoin transactions, it enables higher network throughput, lower latency, and security close to Bitcoin, while not charging gas fees. Compared with Ethereum and Tron, Plasma optimizes the user experience to the extreme, and is particularly suitable for high-frequency, low-value scenarios such as cross-border payments, micropayments, and B2B trade, and is expected to undertake large-scale stablecoin transactions in the future. Its economic model draws on the free expansion strategy of the Web2 platform to achieve value capture through liquidity aggregation, DeFi applications, MEV extraction, and other methods. As US stablecoin legislation (such as the GENIUS Act) becomes clearer, Plasma, as a compliance-friendly underlying infrastructure, is expected to become a key carrier for the global expansion of the digital dollar.
《Virtuals lands on Ethereum, EF executive director starts working on AI》
IRIS is an AI-driven contract security agent developed by Nethermind and promoted by Tomasz K. Stańczak, the current co-CEO of the Ethereum Foundation. Through cooperation with Virtuals Protocol, it has launched in-depth cooperation with Ethereum for the first time in the direction of tokenized agents. The project focuses on smart contract scanning, security education and vulnerability analysis, marking Ethereum's official embrace of AI Agents and attempts to incorporate them into the main narrative. With the introduction of a mature AI token economic system through Virtuals into the Ethereum ecosystem, the participation, profitability and composability of Agents have been significantly enhanced, providing a path for Ethereum to build a new generation of AI native applications, and may become an important entry point for Ethereum's next strong narrative.
"Re-examining Ethereum: What are the reasons for being bullish on ETH now?"
Ethereum's recent price continues to lag behind BTC and Solana. The core reason is that the Layer2 strategy has not met expectations, the roadmap is advancing slowly, and the R&D efficiency is lagging behind. At the same time, the community has long adhered to the idealistic principle of decentralization. As competitive pressure increases, the foundation is turning to a more pragmatic Layer1 expansion direction, adjusting the organizational structure and laying off employees, sending a signal of reform. The guests believe that Ethereum's technical foundation and developer ecosystem are still highly competitive, but if it cannot promote engineering optimization and user-oriented reforms more radically, it may lose its leading edge in the long run. Whether to increase positions in the future will depend on the degree of improvement of the foundation in decision-making efficiency, engineering progress and community feedback mechanism.
Circle's hot listing has ignited the concept of stablecoins. As its partner, Base Chain has become the focus of institutional attention. Multiple projects in the ecosystem have risen rapidly: Keeta focuses on payment and compliance, Mamo and Giza provide automated stablecoin income strategies, Noice and QRCOIN lead social and attention economy innovation, and BasisOS and JesseXBT show the new possibilities of AI-driven DeFi and digital personality. These projects together reflect that Base is rapidly developing towards compliant finance, AI infrastructure and large-scale applications, becoming an important landing point for the migration from Web2 to Web3.
"The Federal Reserve welcomes a new regulatory chief. Is the last hawkish bastion going to loosen?"
Michelle Bowman took over as Vice Chairman of the Federal Reserve for Supervision, which indicates that the Fed may see an important shift in its attitude towards crypto and stablecoin regulation. She advocates promoting innovation while ensuring the soundness of banks, opposes using regulation to suppress legitimate businesses, and has questioned CBDC and unclear stablecoin rules. Her pragmatic stance contrasts with her predecessor's tough style, which may bring a clearer and more open policy environment for stablecoin issuance and crypto enterprise access.
《Joe Lubin: Ethereum’s “Silent Promoter”》
Joe Lubin transformed from a Goldman Sachs executive to a co-founder of Ethereum. He built ConsenSys with a systematic engineering mindset, created the core Ethereum infrastructure stack including MetaMask and Infura, and promoted the concept of "progressive decentralization". After winning the SEC lawsuit, he led SharpLink Gaming to invest $425 million to build an ETH vault, and planned to work with sovereign funds to build national financial infrastructure, trying to build Ethereum into the bottom layer of the global financial system, while promoting the decentralized Web3 vision.
《List of Characters in Crypto Dark Forest》
In the narrative torrent of the continued expansion of the cryptocurrency market, tokens have long ceased to be just a carrier of technological or financial innovation, but have become a bargaining chip in a structural game. From exchanges, VCs, KOLs, to communities, airdrop players and retail investors, everyone is involved in a game of "who is the last one to take over". This article does not attempt to deny the potential of encryption technology itself, but to reveal the hidden truths in the current token issuance and circulation mechanism: how it operates like a multi-level pyramid scheme, and how it systematically concentrates profits upward.
Plasma is a financial infrastructure chain supported by Tether and built specifically for the Bitcoin ecosystem. It integrates three major technical features: stablecoins, sidechains, and privacy. It supports native USDT, permissionless BTC mortgage lending, and privacy protection. Gas can be paid with USDT/BTC, and is positioned as a stablecoin-driven settlement layer. It is designed to serve the needs of the new generation of BTCFi, while benchmarking the Circle payment network, opening up the fiat currency withdrawal channel between traditional banks and encryption systems, and becoming the core asset carrier platform in the Tether ecosystem.
USDC vs USDT: The truth about stablecoins behind a misunderstood "species competition"
Since Circle announced its listing, an invisible boundary in the stablecoin market has been officially drawn: USDC and USDT have begun to take two different development paths: USDC has entered the Western financial system with compliance and programmability, becoming the "permissioned dollar" in the financial technology scene; while USDT has relied on strong liquidity and easy accessibility to become a "survival tool" to avoid inflation and fund control in emerging markets. The differentiation between the two reflects the value demand levels of stablecoin users in different markets: Western users value innovation and efficiency, while users in emerging markets are more concerned with permissionless, low-cost and fund security. The true core value of stablecoins has therefore been redefined in different regions.
More and more small-cap listed companies are following MicroStrategy's coin holding strategy, but are no longer limited to Bitcoin. Instead, they are starting to bet on AI Altcoin such as FET and TAO with high leverage, hoping to achieve a stock price leap with the help of narrative transformation and capital. Behind this game, there are not only project interest binding and market maker promotion, but also dual risks of supervision and finance. It may stimulate market enthusiasm in the short term, but whether it can be implemented in the long run requires vigilance against the backlash effect of narrative collapse and drastic fluctuations in coin prices.
"Coinbase Research Report: Three Major Themes of the Crypto Market in the Second Half of 2025"
Against the backdrop of warming economic growth, rising expectations of Fed rate cuts, and gradually clear regulatory legislation, the crypto market is expected to continue its rebound in the second half of 2025, and the trend of corporate adoption of crypto assets continues to strengthen, although high-leverage coin purchases may cause systemic risks in the medium and long term; Bitcoin still has room for growth due to its store of value properties, while the performance of Altcoin will rely more on ETF promotion, individual narratives and implementation capabilities.
Marc Andreessen: The "Operator" of Technology Power in the White House
While Musk broke with Trump, another Silicon Valley tycoon, Marc Andreessen, is taking advantage of the situation to penetrate into the core of Washington, relying on a16z's capital map and network of contacts to fully embed the three key areas of national defense technology, cryptocurrency and artificial intelligence into the government's power structure. After being snubbed by the Biden administration and shocked by its regulatory stance, Andreessen switched to the Trump camp. Not only were many former a16z executives appointed to key positions, but related companies also quickly received policy dividends and huge contracts. His influence is expanding in a way that is almost like weaving alliances, marking a new stage in the penetration of technology capital into US policy-making, but it has also raised concerns about the over-concentration of power and the possible backlash of the "betting on Trump" style gamble.
As generative AI and blockchain technology accelerate their integration, the Internet is facing a profound reconstruction of the economic and architectural layers. This article systematically sorts out 11 major directions where AI and encryption intersect, including on-chain identity and context migration, decentralized computing power network (DePIN), inter-agent payment and collaboration protocols, PoP "proof of authenticity", cross-application synchronization of vibe programming, micropayment-driven revenue sharing mechanism, IP registration system on blockchain, AI crawler payment mechanism, more private advertising model, and user-controlled AI companion. These directions together reveal a trend: decentralization is not only a technical check on centralized AI platforms, but also an economic and trust infrastructure necessary to build a fairer and more open digital world in the future.
Click here to learn about BlockBeats' BlockBeats job openings
Welcome to join the BlockBeats official community:
Telegram subscription group: https://t.me/theblockbeats
Telegram group: https://t.me/BlockBeats_App
Official Twitter account: https://twitter.com/BlockBeatsAsia
