Democratic Party to Introduce Digital Asset Innovation Law Next Month... Stablecoin Capital Requirement Raised from 500 Million to 1 Billion
According to News1, members of the Democratic Party belonging to the National Assembly's Political Affairs Committee will introduce a Digital Asset (Virtual Asset) Innovation Bill in July. While there is already a 'Digital Asset Basic Law' recently proposed by Democratic Party member Min Byung-deok, this new bill further supplements the regulatory framework for stablecoins. According to the innovation bill, to issue stablecoins, companies must obtain approval from financial authorities by meeting 12 requirements, including having over 1 billion won in equity capital. The stablecoin issuance requirements include △ executives meeting financial company governance law Article 5 △ establishing appropriate redemption policies guaranteeing user redemption rights △ establishing standards for reserve asset composition and management, among 12 total requirements.
Deutsche Bank to Release Initial Version of Asset Tokenization Platform
According to Waters Technology, Germany's largest commercial bank Deutsche Bank plans to release the initial minimum viable product (MVP) of a blockchain-based platform that can provide asset tokenization services in November this year. The platform focuses on reducing initial infrastructure investment burdens for companies interested in tokenization. Deutsche Bank will support asset managers, asset consultants, and other financial companies in creating and distributing tokenized assets.
OKX Officially Enters Germany and Poland
OKX announced the launch of regulated cryptocurrency exchanges in Germany and Poland, supporting trading of over 270 coins, including more than 60 coins in the Euro market.
The Blockchain Group Raises 7.2 Million Euros... Aimed at BTC Purchase
French blockchain specialist The Blockchain Group (ALTBG) announced a capital increase of 7.2 million euros for its Bitcoin purchasing strategy. The company recently also issued 9.7 million euros in stocks and convertible bonds.
Paradigm Submits Supporting Opinion Brief for Tornado Cash Founder
According to The Block, venture capital firm Paradigm submitted an amicus brief supporting Tornado Cash co-founder Roman Storm. The key point is that software developers are not money transmitters. Storm's trial is scheduled to begin on July 14.
Foreign Media: "Pump.fun X Account Blocking, Possible SEC Intervention"
The Block reported that with multiple meme coin-related X accounts, including Pump.fun's official X account @pumpdotfun, being blocked, speculation has emerged about potential SEC intervention. The Block noted that "while Pump.fun continues to operate normally, it is facing a class-action lawsuit for allegedly providing and selling unregistered, highly volatile securities to investors".
BTC Spot ETF Sees 556.6 Billion Won Net Inflow... Continuous for 6 Trading Days
According to Parsyside Investor, on the 16th (local time), US Bitcoin spot ETFs received a net inflow of $408.6 million (556.6 billion won). Net inflows continued for the 6th consecutive trading day. Specifically: BlackRock IBIT received $266.6 million, Fidelity FBTC received $83 million, Bitwise BITB received $41.4 million, Grayscale GBTC received $12.8 million, and Grayscale Mini BTC received $4.8 million. Ark21Shares ARKB's net inflow/outflow data remains uncalculated, with no net inflows/outflows for other ETFs.
ETH Spot ETF Sees 29.1 Billion Won Net Inflow
On June 16th (local time), US Ethereum (ETH) spot ETFs received a total net inflow of $21.4 million (29.1 billion won). According to Parsyside Investor, BlackRock ETHA received $16.1 million, and Fidelity FETH received $5.3 million.
MatrixPort Deposits 12,323 ETH to Binance
According to The Data Nerd, MatrixPort address deposited 12,323 ETH ($31.8 million) to Binance approximately 2 hours ago.
Marathon Holdings Deposits 790 BTC to Binance
According to The Data Nerd, an address believed to be from BTC mining company Marathon Holdings deposited 790 BTC ($84.64 million) to Binance approximately 1 hour ago. The address currently holds 12,786 BTC ($1.37 billion).
Wallets Holding Over 1 Million XRP Surpass 2,700 for First Time
Crypto Basic reported that for the first time in XRP's 12-year history, wallets holding over 1 million XRP have exceeded 2,700. The XRP Ledger's daily trading volume has also surpassed the three-month average. Active addresses have increased to over 295,000, a 637.5% increase from the previous week.
24-Hour Cryptocurrency Perpetual Futures Liquidation Scale
Recent 24-hour cryptocurrency perpetual futures liquidation scale and liquidation ratio are as follows:
BTC Liquidation Scale: $95.84 million, Liquidation Ratio: 72.75% Short
ETH Liquidation Scale: $134 million, Liquidation Ratio: 53.59% Long
SOL Liquidation Scale: $19.98 million, Liquidation Ratio: 76.44% Long
Top 3 Futures Exchanges BTC Perpetual Futures Long/Short Ratio
Recent 24-hour BTC perpetual futures long/short position ratios based on open interest at the world's top 3 cryptocurrency futures exchanges:
Overall Exchanges: Long 50.32% / Short 49.68%
1. Binance: Long 50.34% / Short 49.66%
2. ByBit: Long 49.78% / Short 50.22%
3. Gate.io: Long 51.83% / Short 48.17%
MUSIC Registers 'DRIP DRIP' Track on Story IP Portal
Virtual entertainment content platform MUSIC announced that it has registered the popular track 'Drip Drip' IP on Story's IP portal and launched the DRIP Token on Story Chain. 'Drip Drip' is an EDM music track created by top Asian DJs R3HAB and DJ Wukong, which recorded over 700,000 cumulative streams in its first month. MUSIC also teased additional announcements related to DRIP.
Binance Alpha Adds MAT
Binance Alpha announced the addition of MAT (Matchain). Tokens for Binance Alpha are selected reflecting community and market trends from early projects. Future listing is not 100% guaranteed.
OKX Lists SPK Perpetual Futures
OKX announced that it will list SPK perpetual futures on June 17 at 7:30 PM.
Japan Keeps Policy Rate Unchanged
Bank of Japan announced that it will maintain its policy rate. The current rate is 0.5% per annum.
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