Doohyun Hwang

cow5361@bloomingbit.io

KEEP CALM AND HODL🍀

All Articles 1,244

ETH
Ethereum surges past $2,800 after 4 months... ETF posts net inflows for 17 consecutive sessions
The US spot Ethereum ETF market recorded net inflows for 17 consecutive trading days. According to data from TraderT on the 10th (local time), the total net inflow for spot Ethereum ETFs that day was $124,010,000. This marks the highest trading volume in the past four months. BlackRock's 'ETHA' attracted the most capital with $79,670,000. Fidelity's 'FETH' saw $26,320,000 in inflows, Bitwise's 'ETHW' brought in $8,350,000, and Grayscale's 'ETH' had $9,670,000. Other ETFs saw neither inflows nor outflows. Recently, the price of Ethereum has been rapidly rising as well. Over the past two days, Ethereum surged approximately 12%, breaking above the $2,800 mark intraday for the first time in about four months. As of now, Ethereum is trading at around $2,790 on Binance Tether (USDT), up about 3% from the previous day. Analysts note that expectations over the passage of the stablecoin regulatory bill, the GENIUS Act, and the SEC's indication of easing DeFi regulations are driving Ethereum’s uptrend. In particular, Ethereum is regarded as the primary network for more than half of all stablecoin issuance, suggesting it stands to benefit significantly from potential policy changes.
June 10PiCK
BTC
US Bitcoin Spot ETF sees net inflow of $427.88 million...for two consecutive trading days
The United States Bitcoin spot ETF market has continued its upward momentum with capital inflows for two consecutive days. According to data from Trader T on the 10th (local time), the total net inflow into US-listed Bitcoin spot ETFs was $427.88 million. The VWAP (Volume Weighted Average Price) of Bitcoin was around $108,740. The product with the largest capital inflow was BlackRock's 'IBIT', with a one-day net inflow of $333.51 million. Next, Fidelity’s 'FBTC' saw an inflow of $67.07 million, ARK Invest’s 'ARKB' had $20.25 million, and Invesco’s 'BTCO' saw $7.65 million flow in. Bitwise’s BITB experienced an outflow of $600,000 on the day. Other ETFs had neither inflows nor outflows. With this institutional capital inflow, Bitcoin’s price also remained strong. On the Binance Tether (USDT) market, Bitcoin briefly surpassed $110,000 during intraday trading, and is currently trading around $109,580. The market is focusing on whether the previous high of $111,980 can be broken.
June 10PiCK
Will Chang Yong Rhee Discuss Stablecoins With Bank CEOs... Attention on the Dinner Meeting on the 23rd
Chang Yong Rhee, Governor of the Bank of Korea, will meet with commercial bank CEOs at the end of this month. As discussions around issuing a won-based stablecoin have recently accelerated, particularly among political circles, attention is focused on whether this topic will be addressed during the dinner meeting. According to the financial industry on the 11th, Governor Rhee will have dinner with commercial bank CEOs following the regular board meeting of the Korea Federation of Banks, which will be held on the 23rd at the Bankers' Club in Jung-gu, Seoul. Park Jong-woo, Deputy Governor of the Bank of Korea, is also scheduled to attend and is expected to share views on monetary policy and financial market issues. Governor Rhee has recently increased his frequency of contact with commercial banks. In mid-last month, he personally visited the six major banks—KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NH Nonghyup Bank, and Industrial Bank of Korea—and held 30-minute meetings with each. On the 26th of last month, immediately after his meeting with Tim Adams, President and CEO of the Institute of International Finance (IIF), he called in commercial bank CEOs to share discussions on digital currency-related topics such as Project Han River and the Agora Project. This series of meetings is interpreted as an effort to speed up policy responses amid changing domestic and international environments regarding stablecoins. In particular, on the 10th, Min Byung-deok, a lawmaker from The Minjoo Party of Korea, proposed the “Digital Asset Basic Act,” which centers on the issuance of a won-based stablecoin, expanding the discussion throughout the political sphere. The proposed bill includes provisions to relax the minimum capital required of stablecoin issuers from ₩5 billion to ₩500 million and allow non-bank fintech companies to issue won-based stablecoins. This differs from the previous stance of the Bank of Korea, which has maintained a cautious approach toward issuance by non-bank entities out of concern for potential harm to the effectiveness of monetary policy and financial stability.
June 10PiCK
LINK
Chainlink CEO: "Full-Scale Collaboration with Financial Institutions Worldwide"
Chainlink is significantly expanding collaboration with major financial institutions across Asia, the Middle East, Australia, the United States, and more, while promoting global standardization of decentralized oracle networks. Currently, Chainlink is in various stages of discussions with key financial institutions in multiple countries to build capital market infrastructure based on its technology. Sergey Nazarov, Chainlink co-founder, said on the official YouTube channel on the 9th (local time), "We have been active mainly in Asia, the Middle East, and Australia since last year, and this year, we are focusing discussions with local institutions in the United States in response to regulatory changes," adding, "At the moment, we can't disclose the names of partner institutions upon their request, but in reality, discussions are underway with nearly all major institutions." Nazarov explained, "Chainlink now provides integrated solutions tailored to the needs of various institutions, including asset managers, banks, and financial market infrastructure, by offering data connectivity, compliance, and orchestration solutions to fit individual requirements," adding, "Our goal is to enable global capital flows across multiple blockchains in compliance with complex regulations." He continued, "Ultimately, we aim to connect capital flows between institutions and the decentralized finance (DeFi) ecosystem," and, "Through this, we will build an 'Internet of Contracts' structure where financial service providers operate on a single global standard." He also added, "We have now entered a phase of 'inbound demand,' where institutions are proactively approaching Chainlink," noting, "Should Chainlink become the only viable alternative as institutional adoption and RWA (real world asset) integration accelerate, the world's largest capital network will be established."
June 10General
U.S. court places hold on ruling suspending Trump's tariff authority…Hearing scheduled next month
The United States Federal Court of Appeals has issued a stay on a lower court's ruling that limited former President Donald Trump's authority to impose tariffs. As a result, the legal effect of Trump's tariff authority is expected to remain in place for the time being. According to Politico on the 10th (local time), the Federal Court of Appeals granted an expedited review of the case and decided to hold a full appeal hearing on July 31. Previously, the Federal International Trade Court had blocked the implementation of reciprocal tariffs and other measures announced by President Trump on April 2. The reason cited was that the U.S. Constitution grants taxation authority to Congress, not the President, and that even the President's emergency powers for protecting the U.S. economy cannot override this.
June 10PiCK
SUI
21Shares Accelerates Listing Process for 'SUI Spot ETF'
21Shares is actively advancing the listing of the SUI spot exchange-traded fund (ETF) in the United States, according to Mysten Labs, the issuer of SUI, on the 11th. NASDAQ recently submitted the 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) to list the '21Shares SUI ETF.' This document has been officially registered with the SEC's public record, marking the formal commencement of the review process. This step follows the S-1 registration application that 21Shares submitted in April, making it the second official action. Through these efforts, 21Shares is accelerating the entry of SUI-based ETFs into the U.S. market. Currently, global SUI-based ETPs have attracted inflows exceeding $300 million. 21Shares has already listed SUI ETPs on Euronext Paris and the Amsterdam Stock Exchange, with inflows into these products increasing significantly this year. Institutional investor participation is also expanding rapidly. Major institutions such as Canary Capital, Ant Financial, Franklin Templeton, VanEck, and Grayscale have been consecutively participating in SUI-related investment products and infrastructure businesses since Q4 last year. Kevin Boon, CEO of Mysten Labs, said, "SUI has established itself as a platform sought out by developers and institutions pursuing real value," adding, "21Shares has rapidly captured this trend and has built a unique position." He went on to say, "This NASDAQ listing application is an important milestone for the SUI ecosystem," and added, "It marks significant progress toward creating an environment where all investors can access SUI."
June 10General
IP
Story Unveils AI Custom Goods Collaboration With Global Fashion Brands
The Story (STORY, IP) Foundation, which is building a blockchain ecosystem for intellectual property (IP), announced on the 11th that it will launch a fan-participatory custom goods store in collaboration with global fashion brands using its AI-powered design platform 'Abloh (ABLO)', based on its proprietary blockchain. The newly unveiled goods store is a project involving world-renowned brands such as Adidas, Champion, Balmain, Smiley, and Pangaia. Creators can freely design apparel and accessories using Abloh’s AI design tools and sell co-planned products with these brands. This is considered a sign that the digital IP ecosystem is entering full-scale expansion by enabling individual creators to directly participate in global distribution. Abloh is an AI-based fashion platform that supports creators in designing and generating revenue without intermediaries. All creative works are tokenized and recorded on the Story blockchain, automating copyright protection and revenue distribution. Notably, even when works are reused or remixed for derivative creations, the original creator receives a share of the profits. Andrea Muttoni, Chairman of the Story Foundation, said, “Abloh is a new industry standard designed so that creators can realize their ideas and receive fair compensation. We will continue to expand an environment in which creative digital works are recognized for their rightful value through creator-centric platforms like Abloh.”
June 10General
Nominee for US CFTC Chair: "Crypto Regulation Needs a Balance Between Innovation and Protection"
Donald Trump, the President of the United States, has nominated Brian Quintenz as the next chair of the Commodity Futures Trading Commission (CFTC), who stated that a balanced approach between innovation and consumer protection is needed for virtual assets (cryptocurrencies). According to CoinDesk on the 10th (local time), nominee Quintenz said at the Senate Committee on Agriculture, Nutrition, and Forestry confirmation hearing, "The Market Structure Act can provide clarity to businesses, developers, and founders involved with virtual assets while also establishing a regulatory framework for user protection," adding, "If Congress creates an appropriate market regulatory system, I am ready to leverage my experience and expertise to carry out this task successfully." He also addressed questions related to the prediction market platform 'Kalshi', where he had previously served as a director. He argued, "Event-based contracts align with the fundamental purposes of the derivatives market, which are risk hedging and price discovery," and "the Commodity Exchange Act (CEA) clearly permits this." Quintenz was formerly the head of policy at a16z, and has previously served as a CFTC commissioner. Currently, the US Congress is advancing a bill to expand CFTC's oversight authority over the digital commodity spot market. If this bill passes, CFTC will be elevated as the primary regulatory body for the virtual asset market within the United States.
June 10General
Connecticut, US, Passes Bill Banning State Government Virtual Asset Holdings and Payments
The US state of Connecticut has passed a bill that prohibits the state government's holding and payment of virtual assets (cryptocurrencies). On the 10th (local time), the Connecticut House of Representatives announced the final passage of the “Act Concerning the Definition of Virtual Currency Control Service Providers and Restrictions on Retention and Use in the Public Sector (HB 7082),” enacting it as Public Act No. 25-66. The bill first establishes a new definition for a 'virtual currency control services vendor.' In addition, clear requirements are specified for state-licensed virtual asset remittance operators, including: ▲ mandatory notification ▲ issuance of receipts ▲ procedures for the use of virtual assets ▲ requirements for entering into third-party custodial agreements. It is stipulated that a portion of virtual assets held by remittance operators are to be regarded as 'property interest' of creditors and other stakeholders. Accordingly, in the event of bankruptcy of a licensed remittance operator, the virtual assets held may be treated as assets subject to recovery. Notably, this bill prohibits Connecticut state government and all its public agencies from ▲ accepting or requesting virtual assets as a means of payment ▲ purchasing, holding, investing in, or designating virtual assets as reserve assets. The legislation effectively blocks all use of virtual assets in the public sector.
June 10PiCK
Stablecoin project 'Plasma' raises $500 million in public sale
The stablecoin project 'Plasma' raised $500 million in its public token sale in just 5 minutes. This sale was conducted via the new public sale platform 'Sonar', operated by renowned cryptocurrency investor Jordan Fish. Plasma was selected as the first project on Sonar, which launched on May 27. The initial sale cap for Plasma was set at $250 million, but due to a surge in investment demand over the past two weeks, it was raised to $500 million. The sale was carried out using a reservation system rather than real-time token allocation, and token buyers are subject to different lockup periods depending on their country. Meanwhile, Plasma has already attracted a total of $27.5 million in strategic investments. The list of investors includes Paolo Ardoino, CEO of Tether, and the global cryptocurrency exchange Bybit.
June 10General
Rise on Hopes for US-China Trade Deal... Tesla Rallies for Third Day [New York Stock Market Briefing]
Major indices on the New York Stock Exchange ended higher after fluctuating throughout the session. Although the US-China trade talks, ongoing for the second day in London, UK, have not yet yielded results, positive remarks from Howard Lutnick, US Secretary of Commerce, boosted the markets. On the 10th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 42,866.87, up 105.11 points (0.25%) from the previous day. The Standard & Poor's (S&P) 500 Index rose 32.93 points (0.55%) to 6,038.81, and the NASDAQ Composite Index climbed 123.75 points (0.63%) to close at 19,714.99. Howard Lutnick, a US trade negotiator, said that the US-China trade talks were 'going very well.' It was reported that the US and China, after reaching a broad agreement, were coordinating on technical details. Market participants expect that rather than a comprehensive deal, the negotiations may produce agreements to ease regulations on certain items. In particular, it was reported that the US had offered to ease semiconductor-related tech sanctions in exchange for a stable supply of rare earths from China. Accordingly, the Philadelphia Semiconductor Index, composed of AI and semiconductor-related stocks, surged 2.06%. However, since stock prices previously rebounded sharply as the US and China postponed imposing high tariffs on each other, there are concerns that a stalled negotiation could unsettle the markets going forward. By sector, all sectors except industrials ended higher. Notably, communication services, consumer discretionary, healthcare, and energy all rose over 1%. Tesla soared 5.67%. Driven by hopes for a reconciliation between US President Donald Trump and Tesla CEO Elon Musk, the stock rose for a third straight session, recovering much of its recent sharp losses. Intel jumped 7.95% amid optimism over the outcome of US-China trade negotiations. TSMC climbed 2.64% after reporting a 39.6% year-on-year increase in May sales. According to the Chicago Mercantile Exchange (CME) FedWatch Tool, the probability of a rate hold at the July Federal Funds Rate futures market stood at 85.5%. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) fell 0.21 points (1.22%) to 16.95. Han Kyung-woo, Hankyung.com reporter case@hankyung.com
June 10PiCK
USD1
AAVE
World Liberty, $7.5 million loan from Aave..."Likely USD1 withdrawal procedure"
World Liberty Financial (WLFI) has reportedly borrowed $7.5 million worth of the stablecoin Tether (USDT) from the decentralized lending protocol Aave. On the 10th (local time), Onchain Lens, citing data from Nansen, reported that "to do so, WLFI deposited about $52 million worth of virtual assets (cryptocurrencies) — including Ethereum (ETH), Wrapped Bitcoin (WBTC), and Lido Staked Ether (STETH) — as collateral in Aave." The use of the loaned funds has not been disclosed yet. However, as the funds have been transferred to a wallet managed by the custody firm Bitgo, some interpret this as a deposit procedure for USD1 withdrawals. USD1 is a U.S. dollar-pegged stablecoin issued by WLFI, and Bitgo is the custodian for this asset. Meanwhile, WLFI is taking aggressive steps to expand the circulation of USD1. According to DeFiLlama data, the current circulating market capitalization of USD1 is about $2.18 billion, showing rapid growth. However, $2 billion of this amount comes from the sovereign wealth fund MGX's investment on Binance, and the net increase over the past 30 days was less than $60 million.
June 10General
BTC
"Bitcoin Emerges as a New Investment Destination Amid Economic Uncertainty in the US"
The upward trend of Bitcoin (BTC) has been analyzed as a phenomenon intertwined with economic uncertainty in the United States. According to CoinDesk on the 10th (local time), ARK Invest recently stated in a report, "Bitcoin is emerging as a new channel for capital inflows amid a slowdown in the two pillars of US consumption: the housing and automobile markets." The report states that Bitcoin rose by about 11.1% in May alone, surpassing the increase in gold. During the same period, the housing and automobile markets showed a rapid contraction. ARK Invest analyzed, "Since 2022, a series of aggressive rate hikes by the US Fed have undermined housing affordability," adding, "As sellers increase more quickly than buyers, price pressure is mounting." Automobile sales also plummeted. The sales volume— which had surged prior to the implementation of tariffs earlier this year—dropped sharply to 15.6 million units in May, a significant decrease from 17 million units just a month earlier. With real assets in turmoil, Bitcoin is being evaluated as a new avenue capable of ensuring profitability. Indeed, in May alone, about $5.5 billion flowed into US-listed spot Bitcoin ETFs, which is more than three times the inflow into gold ETFs over the same period. ARK Invest also noted, "Signs of speculative overheating have not yet appeared in this Bitcoin rally," and explained, "The scale of unrealized profits is far lower than during previous bubbles. The movement to realize profits is also limited." The firm added, "The flow of investor capital into Bitcoin can be seen as a strategic reallocation of assets in response to changes in the economic environment."
June 10General
Can KakaoPay issue stablecoins…"Possible depending on interpretation"
Attention is being paid to whether fintech companies will be able to directly issue and distribute stablecoins. Although the current law prohibits 'self-issued coin trading,' there is a possibility of a flexible interpretation that could narrow the scope of regulatory application. Kim Hyo-bong, an attorney at Bae, Kim & Lee LLC, stated at the 'Fin:Frame 2025' seminar held in Gangnam-gu, Seoul on the 10th, "It is currently difficult under the law for fintech companies to issue and distribute stablecoins themselves." However, he added, "There is room for financial authorities to approach related legislation more flexibly." Attorney Kim explained, "The Virtual Asset User Protection Act contains a blanket prohibition stating that 'one cannot trade or transact virtual assets issued by oneself or a related party.' Interpreted as is, fintech companies cannot both issue and distribute coins." He added, "If the provision is applied only to trading inside virtual asset exchanges, it could lead to a different outcome. Fintech companies might be allowed to issue and distribute coins." With the growing participation of fintech companies, a separate licensing system such as "virtual asset payment business" or "wallet service business" is also expected to be introduced. Kim said, "Currently, the Electronic Financial Transactions Act is not based on blockchain-based payments, so there is a high possibility a separate payment business license will be established via the Digital Asset Basic Act." He went on, "If exchanges between fiat currency and coins occur in a wallet, it used to be considered trading business, but under new legislation, this could be classified as activity for payment purposes and included within the payment business license." He also commented on the requirement for minimum capital presented as a condition for issuing stablecoins. On this day, Min Byung-deok, a lawmaker from the Democratic Party of Korea, proposed the Digital Asset Basic Act, which allows Korean corporations with more than ₩500 million in equity capital to issue stablecoins. Attorney Kim said, "In the early version of the bill, the requirement was set at ₩5 billion, resulting in industry backlash, but it is now adjusted to more than ₩500 million." He added, "Looking closely at the bill, the amount of required capital will be determined by presidential decree. In the end, the requirement could be raised to over ₩500 million." He further argued, "In the future, it might also be required to accumulate additional capital in proportion to the issuance amount." Regarding reserve assets for KRW stablecoins, he commented, "Korea doesn't have many government-issued short-term bonds, so it is necessary to diversify reserves to include deposits and highly liquid assets." He added, "Like the EU’s MiCA, it’s possible to consider holding some portion as bank deposits, and the rest as highly liquid, low-risk assets."
June 10PiCK
"Stablecoins, Game Changer in the Payment Market...Expansion of Actual Use in Korea Expected"
Tenwei Liu, CEO of StraitsX (StraitsX), described stablecoins as a technology that can transform the paradigm of the payment market. He explained that with the trading volume of stablecoins reaching about ₩15.6 trillion as of last year, the existing financial sector can no longer ignore them. On the 10th, CEO Liu stated at the seminar 'Fin:Frame (Fin:Frame) 2025' held in Gangnam-gu, Seoul, "Even the circulation of U.S. dollar-linked stablecoins such as Tether (USDT) and USD Coin (USDC) has reached $200 billion," adding, "This is just the beginning. Citigroup predicted that this market will grow to $1.6 trillion by 2030." CEO Liu pointed out that stablecoins are rapidly expanding beyond simply moving funds between virtual asset exchanges to real-world applications such as global remittance and micropayments. He explained, "Currently, global remittance occurs via the SWIFT network, which incurs high fees and takes 2-5 days for settlement, only within banking hours," highlighting, "With stablecoins, transactions can be completed nearly in real time, 24/7, at low cost." He also emphasized the importance of changes in the regulatory environment. In April, the U.S. Securities and Exchange Commission (SEC) interpreted so-called "covered stablecoins" as not being securities, increasing their acceptability within the institutional system. CEO Liu said, "The 'GENIUS Act', a bill on stablecoins, is about to pass in the U.S. Congress," and "The European Union (EU)'s MiCA, as well as Hong Kong and Singapore, are also refining regulations for issuance and circulation." He shared cases of the spread of stablecoins based on actual payments. CEO Liu said, "StraitsX is registered as an early regulatory-compliant business with the Monetary Authority of Singapore (MAS)," and "We are currently issuing XSGD, a Singapore dollar-linked stablecoin, and XUSD, a U.S. dollar-linked stablecoin. Both stablecoins are fully backed 1:1 by high-quality liquid assets and are audited externally twice a month." He continued, "We have built a QR code-based stablecoin payment system with Alipay and Grab," sharing, "Currently, our stablecoins are being used at more than 30,000 merchants across Singapore." He also expressed hopes for actual use in Korea through stablecoins, saying, "We hope that the real-use ecosystem for stablecoins will settle in Korea as well," and "It can become a reality that tourists from Southeast Asia make payments in Korea using ZeroPay or KakaoPay, and behind the scenes, settlements are made using blockchain-based stablecoins." Finally, he added, "Unlike the traditional card payment system, blockchain-based stablecoin payments enable real-time settlement, making it efficient for both merchants and consumers," and noted, "Stablecoins can technically be a 'game changer.' The pace of adoption will accelerate significantly in the coming years."
June 10PiCK
BTC
'Japanese Strategy' Metaplanet Announces Entry into the United States..."Headquarters Established in Miami"
Metaplanet, a Japanese listed company and notable Bitcoin (BTC) investment firm, has established its US headquarters in Miami, Florida. On the 6th (local time), Simon Gerovich, Metaplanet CEO, stated via his X, "We are delighted to set up our US headquarters in Miami," and added, "We are proud to be able to build the Bitcoin industry in one of the world's most tech-friendly and innovative cities." Previously, Metaplanet announced plans for a Bitcoin-dedicated capital increase amounting to approximately ₩7.27 trillion (about ¥770.9 billion). Additionally, Metaplanet is continuously acquiring Bitcoin, aiming to hold 100,000 units by 2026 and 210,000 units by 2027. With these moves, the industry sees Metaplanet as solidifying its position as 'Asia’s leading Bitcoin company' by adopting Strategy's model.
June 7General
LOUD
VIRTUAL
BNKR
POL
SKATE
[Today's Global Trending Coins & Keywords] Polymarket, BankerCoin, LOUD, etc.
According to the Token Mindshare (an indicator that quantifies the influence of a particular token in the virtual asset market) Top Gainer by Kaito, an AI-based web3 search platform, as of the 7th, the top 5 virtual assets and keywords with the most public interest are Polymarket (POLYMARKET), BankerCoin (BNKR), LOUD (LOUD), Virtual Protocol (VIRTUAL), and Kaito (KAITO). Polymarket was the project that received the most attention. Polymarket is a decentralized prediction market platform where users can place bets on various social and political topics and receive rewards depending on the outcome. Recently, Polymarket entered into a partnership with xAI, the AI firm of Tesla CEO Elon Musk, and the social media platform X. With this news, investors focused their attention, sending Token Mindshare to the top ranks. LOUD, the next project in line, is also attracting notable attention. Supported by Kaito, LOUD rewards tokens based on online social activity volume. Recently, Kaito gave top Token Mindshare users the opportunity to purchase tokens in advance through an IAO (Initial Attention Offering), which has now ended. Currently, token purchase qualifications will be given sequentially to the first 120,000 Kaito users. A ranking system based on activity volume is applied, and it is analyzed that many investors are actively mentioning LOUD. Virtual Protocol (VIRTUAL), recognized as a leading AI-themed project, also made it to the top of the interest list. On this day, Virtual Protocol was trading at around $1.87, up around 12% from the previous day. In addition, investors are also showing interest in Sahara AI (SAHARA), LunchCoin on Vlive (LAUNCHCOIN), DeFi App (DEFIAPP), Polygon Ecosystem Token (POL), and SKATE (SKATE).
June 7PiCK
USDC
Japan's SBI invests $50 million in stablecoin issuer 'Circle'
Japanese financial giant SBI Holdings has reportedly invested approximately $50 million in Circle, the stablecoin issuer, in line with Circle’s IPO on the New York Stock Exchange. According to CryptoPolitan on the 6th (local time), with this investment, SBI Holdings has secured around 5% of the 34 million Class A common shares issued by Circle. Circle’s stock price more than doubled over two days on the 5th and 6th. On its listing day, Circle's shares started trading at around $60, soaring to $120 on the 6th as the upward trend continued. The two companies have already formed a strategic partnership. In March, SBI strengthened its collaboration by listing Circle’s stablecoin 'USD Coin (USDC)' on its crypto asset trading platform 'SBI VC Trade'. This investment is a part of expanding their partnership—SBI plans to leverage USDC to enhance digital dollar-based payment infrastructure and build low-cost electronic payment solutions. Previously, SBI stated, "With USDC, we aim to provide customers with access to digital dollars" and "Along with this, we intend to promote efficient and cost-saving payment methods that align with the development of the digital economy."
June 7General
ETH
US Ethereum Spot ETF, $25.3 Million Net Inflow...15 Consecutive Trading Days
A total of $25.3 million flowed into the United States Ethereum (ETH) spot exchange-traded funds (ETFs) in a single day. BlackRock and Grayscale led the inflow trend. According to the digital asset analytics firm Farside Investors, on the 6th (local time), the US-listed Ethereum spot ETF market recorded a net inflow totaling $25.3 million. BlackRock's 'ETHA' attracted the largest inflow at $15.9 million, while Grayscale's managed 'Mini Ethereum ETF' also saw a net inflow of $9.4 million. No net inflow or outflow occurred in other products. Meanwhile, Ethereum was trading around $2,480 on this day, up 1.16% from the previous day based on the Binance Tether (USDT) market.
June 7General
Trump: "No plans to talk with Musk... reviewing all contracts with Tesla"
According to Reuters on the 6th (local time), President Trump met with reporters on Air Force One and said, "I hope Musk leads Tesla well," but also stated, "I will thoroughly review all contracts made with the federal government." It is also reported that he mentioned the possibility of returning the Tesla electric vehicle he purchased last March. The conflict between the two peaked over the large-scale tax cut bill 'One Big Beautiful Bill' currently being promoted by the Republican Party. Musk criticized the bill, saying it would be a political burden for the Republicans and would increase the national debt by $2.4 trillion over 10 years. Angered by this, President Trump declared a break with Musk and hinted at terminating contracts with his key businesses, SpaceX and Starlink, which are connected to the federal government. In response, Musk threatened to halt the operation of SpaceX's Dragon spacecraft, but later withdrew his position. Meanwhile, despite the conflict, Tesla's stock rebounded on this day. Tesla, which plunged 14% the previous day and lost $150 billion in market capitalization, recovered part of its loss on this day. Within the Republican Party, there are concerns that this conflict could become a negative factor in the upcoming midterm elections. If Musk suspends political donations or if support from Silicon Valley entrepreneurs weakens, it is anticipated that the Republican Party's grip on Congress could be shaken.
June 6PiCK
USDC
Circle Soars 29% on Second Day of Listing, Market Cap Surpasses 29 Trillion Won
Circle, the issuer of the stablecoin 'USDC', continued its sharp rise on the second day of its listing on the New York Stock Exchange. The market capitalization soared past 29 trillion won in an instant, expanding to three times the IPO target price. On the 6th (local time), Circle's share price closed at $107.70 on the NYSE, up 29.4% from the previous trading day. This follows a surge of 168.48% the day before, marking a two-day streak of double-digit gains. As a result, Circle's share price jumped 247% from the IPO price ($31), quickly surpassing the $100 mark. The market capitalization rose to $21.6 billion (about 29.4 trillion won). This scale is about three times the company valuation of $6.8 billion estimated by the market before listing. Previously, Circle had set the initial IPO price range at $24–26, but due to strong investor demand, it was raised to $27–28, and eventually, the final IPO price was confirmed at $31 on the day of listing. Circle is the issuer of USDC, the world's second-largest stablecoin. USDC's market share is approximately 27%, ranking second after Tether (USDT), which holds 67%. Stablecoins are a type of virtual asset whose value is pegged to legal currencies such as the US dollar or euro. They are known for low volatility and fast settlement/remittance based on blockchain technology, attracting attention from global financial institutions and investors.
June 6PiCK
BTC
US Bitcoin Spot ETF sees net outflow of $48.80 million...for 2 consecutive trading days
The United States Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) experienced net outflows for two consecutive trading days. According to data from trader T on the 6th (local time), Bitcoin spot ETFs traded in the US saw an outflow of $48.80 million. While products from Fidelity Investments, Bitwise Asset Management, ARK Invest, and VanEck recorded net inflows, a net outflow of $131.45 million from BlackRock's 'IBIT' was the main reason for the overall result. No net inflow or outflow was observed for Grayscale Investments' 'GBTC', WisdomTree's 'BTCW', Franklin Templeton's 'EZBC', Invesco's 'BTCO', and Valkyrie Investments' 'BRRR'.
June 6General
Lee Jae-myung government accelerates virtual asset policy... Party organization elevated, new direct presidential committee established
With the inauguration of President Lee Jae-myung, the Digital Assets Committee under the Democratic Party of Korea's Election Countermeasures Committee is expected to be upgraded to an official internal party organization. According to the industry on the 7th, the Digital Assets Committee under the party's election taskforce will be converted into a 'Special Committee on Digital Assets (tentative name)' under the central party through a party convention following the launch of the Lee Jae-myung administration. Moving beyond its previous role as a temporary taskforce, it is set to function as a permanent organization overseeing policies in the virtual asset sector. As Min Byung-deok, a Democratic Party of Korea lawmaker currently leading the committee, is set to propose the Digital Assets Basic Act, the special committee is expected to play a pivotal role in policy coordination during the review and refinement process of the bill. Lawmaker Min has been leading policy initiatives for digital assets since the presidential campaign within Lee Jae-myung's camp. Meanwhile, a separate 'Digital Assets Committee' directly under the President will also be established. This body is one of President Lee Jae-myung’s major campaign promises and is explicitly stated in the draft of the Digital Assets Basic Act. According to the draft, the presidential Digital Assets Committee will be composed of around 20 members, including the Chair of the Financial Services Commission and a civilian chair, with the majority of members drawn from the private sector. This aims to shift away from a regulation-centered policy structure and focus on industry development and advancement. Going forward, the committee will be responsible for deliberating and deciding on the mid- to long-term development direction and institutional improvement for the virtual asset industry. Until now, policy in this sector has been led by regulatory agencies such as the Financial Services Commission and the Financial Supervisory Service, but this marks the first time that a dedicated body for industry promotion will be established.
June 6PiCK
Trump: "Fed Chair Nomination to Be Announced Soon… The Right Person Is Someone Who Will Cut Rates"
U.S. President Donald Trump stated that he will soon announce the next Chair of the Fed. He emphasized, "A good Fed chair is someone who can lower interest rates." According to Reuters on the 6th (local time), President Trump told reporters aboard Air Force One, "The announcement for the next Fed chair will come soon. The timing is getting very close." When asked about the possibility of nominating Kevin Warsh, the former Fed board member who is considered a leading candidate for the next Fed chair, he responded, "He is someone who is highly regarded." Meanwhile, President Trump urged that the Fed should cut the base rate by 1%p on this day, criticizing, "Fed Chair Jerome Powell is being overly passive and slow to move on rate cuts." It was recently reported that President Trump had a face-to-face meeting with Chair Powell. At the meeting, he reportedly told Powell, "You are making a mistake," strongly asserting the need for a rate cut.
June 6PiCK
"Pump.fun pursuing $1 billion ICO... Considering sharing profits with investors"
Memecoin issuance platform Pump.fun is reportedly pursuing a token offering (ICO) of up to $1 billion and is considering ways to share a portion of protocol profits with future token holders. On the 6th (local time), The Block, citing sources familiar with the matter, reported, "The structure currently under discussion is to indirectly return a portion of profits generated by Pump.fun to major holders via buybacks," adding, "Those who participate in public and private sales are highly likely to receive all their tokens at the time of the Token Generation Event (TGE)." The source also stated, "The total token supply is expected to be capped at 1 trillion, of which about 25% may be allocated to the public sale and 10% to the airdrop," further noting, "Private sale is currently underway at $0.004 per token, with the public sale expected within two weeks."
June 6General
BTC
Bitcoin Falls Below $104,000
June 6Breaking
TRUMP
Eric Trump: "WLFI, Large-Scale Acquisition Plan for Official Trump"
Eric Trump, the second son of former U.S. President Donald Trump, announced that World Liberty Finance (WLFI) and meme coin 'Official Trump (TRUMP)' have entered into a partnership. On the 6th (local time), via his X account, Eric Trump stated, "WLFI’s wallet project dedicated to memes will no longer be pursued," and added, "Instead, WLFI plans to acquire Official Trump on a large scale as part of its long-term financial strategy." He continued, "(Official Trump) shares with WLFI a greater vision for digital assets, patriotism, and long-term success. More updates will follow soon." Following this news, the price of Official Trump surged by approximately 4% compared to the previous day. On the same day, Official Trump traded at $10.10 in the Binance Tether (USDT) market.
June 6PiCK
TRUMP
Forbes: "Trump earns $1 billion through virtual assets"
It has been revealed that former U.S. President Donald Trump raised his net worth to $5.6 billion by generating about $1 billion in profits through virtual assets (cryptocurrencies). On the 5th (local time), Forbes stated, "Trump’s virtual asset business, which began over the past 9 months, has expanded rapidly just before the presidential election. The president has been realizing earnings through virtual asset projects directly connected to him." In particular, virtual assets have become a means for Trump to secure cash liquidity. Just a year ago, Trump held cash-equivalent assets worth about $400 million and faced serious liquidity issues due to more than $500 million in legal liabilities. Currently, however, his liquid assets amount to approximately $900 million, with half of that attributed to businesses related to virtual assets. Forbes said, "World Liberty Financial (WLFI), founded by the Trump family, has not yet fully entered an expansion phase, and the meme coins in which Trump directly participated are structured so that tokens are gradually distributed as the lock-up is lifted. Trump and his partners have currently received only about 8% of the total. There is a possibility that additional profits on the scale of several billions of dollars could occur in the future." The recent controversy over Trump’s exclusive meme coin investor dinner is also interpreted as a strategic use of assets. Jeff Dorman, Chief Investment Officer (CIO) at Arca digital asset management, stated, "The team assisting Trump is extremely skilled," and added, "They know well the necessity of continuously adding functions that give value to virtual assets." Speculation continues regarding Trump’s next steps. Dylan Bain, an analyst at Messari, commented, "Recently, Trump opened a new membership club in Washington, D.C. Access rights may be granted to holders of his meme coin, 'Official Trump (TRUMP)'," and analyzed, "Various types of rights could be given, such as access to Mar-a-Lago resort, Trump-owned hotels, golf courses, and participation in other Trump business investments."
June 6PiCK
HYPE
Hyperliquid Surpasses $248 Billion in Trading Volume Last Month, Marking All-Time High
The decentralized perpetual exchange Hyperliquid (HYPE) achieved a record-breaking monthly trading volume of $248 billion in May. According to data from The Block on the 6th (local time), this represents a 51.5% increase compared to $187.5 billion in April. Year-on-year (compared to $26.3 billion the previous year), this marks a massive 843% surge. Notably, the monthly perpetual trading volume ratio between Hyperliquid and the global crypto exchange Binance skyrocketed to 10.54%, setting a new all-time high. This surpasses the previous peak of 9.76% set in April. Meanwhile, the perpetual trading volume ratio of centralized exchanges (CEX) to all decentralized exchanges (DEX) also continues to rise. In May, this ratio stood at 6.84%. Though slightly below the all-time high of 7.06% recorded in February, it remains elevated.
June 6General
ETH
US Ethereum Spot ETF Records Net Inflow for 14 Consecutive Trading Days... Price Remains Flat
Institutional demand for Ethereum (ETH) spot exchange-traded funds (ETFs) is continuing for an extended period. On the 6th (local time), Nate Geraci, CEO of The ETF Store, stated, “The streak of net inflows that began on May 16 continued for 14 consecutive trading days until June 5, with $812 million flowing in just during this period.” By each ETF, BlackRock's 'ETHA' attracted $576 million, accounting for 71% of the total inflows. Fidelity's 'FETH' attracted approximately $123 million during the same period, ranking second. 21Shares' 'CETH' posted a cumulative net inflow of only $19.5 million, remaining at the lowest level. There is also clear evidence of institutional investor capital inflow. James Seyffart, Bloomberg ETF analyst, reported on the 4th that the institutional holdings in Ethereum spot ETFs surpassed $1 billion. Citing first-quarter Form 13F filings submitted to the U.S. Securities and Exchange Commission (SEC), he explained, “Investment advisors held the largest share with about $582.4 million, followed by hedge funds with $244.7 million, and securities brokers with $159.3 million, respectively.” In addition, various institutions, including private equity ($39.8 million), holding companies ($17.2 million), trust companies ($11.4 million), pension funds ($7 million), banks ($5.7 million), and family offices ($1.16 million), have also allocated funds into Ethereum ETFs. However, the market price of Ethereum has stagnated. The renewed tariff conflict between the United States and China, along with escalating tensions between President Donald Trump and Elon Musk, CEO of Tesla, appear to have influenced investor sentiment. On this day, Ethereum is trading at around $2,480 in the Binance Tether (USDT) market. This is a drop of about 3% in the past two weeks.
June 6General

Ethereum surges past $2,800 after 4 months... ETF posts net inflows for 17 consecutive sessions

US Bitcoin Spot ETF sees net inflow of $427.88 million...for two consecutive trading days

Will Chang Yong Rhee Discuss Stablecoins With Bank CEOs... Attention on the Dinner Meeting on the 23rd

Chainlink CEO: "Full-Scale Collaboration with Financial Institutions Worldwide"

U.S. court places hold on ruling suspending Trump's tariff authority…Hearing scheduled next month

21Shares Accelerates Listing Process for 'SUI Spot ETF'

Story Unveils AI Custom Goods Collaboration With Global Fashion Brands

Nominee for US CFTC Chair: "Crypto Regulation Needs a Balance Between Innovation and Protection"

Connecticut, US, Passes Bill Banning State Government Virtual Asset Holdings and Payments

Stablecoin project 'Plasma' raises $500 million in public sale

Rise on Hopes for US-China Trade Deal... Tesla Rallies for Third Day [New York Stock Market Briefing]

World Liberty, $7.5 million loan from Aave..."Likely USD1 withdrawal procedure"

"Bitcoin Emerges as a New Investment Destination Amid Economic Uncertainty in the US"

Can KakaoPay issue stablecoins…"Possible depending on interpretation"

"Stablecoins, Game Changer in the Payment Market...Expansion of Actual Use in Korea Expected"

'Japanese Strategy' Metaplanet Announces Entry into the United States..."Headquarters Established in Miami"

[Today's Global Trending Coins & Keywords] Polymarket, BankerCoin, LOUD, etc.

Japan's SBI invests $50 million in stablecoin issuer 'Circle'

US Ethereum Spot ETF, $25.3 Million Net Inflow...15 Consecutive Trading Days

Trump: "No plans to talk with Musk... reviewing all contracts with Tesla"

Circle Soars 29% on Second Day of Listing, Market Cap Surpasses 29 Trillion Won

US Bitcoin Spot ETF sees net outflow of $48.80 million...for 2 consecutive trading days

Lee Jae-myung government accelerates virtual asset policy... Party organization elevated, new direct presidential committee established

Trump: "Fed Chair Nomination to Be Announced Soon… The Right Person Is Someone Who Will Cut Rates"

"Pump.fun pursuing $1 billion ICO... Considering sharing profits with investors"

Bitcoin Falls Below $104,000

Eric Trump: "WLFI, Large-Scale Acquisition Plan for Official Trump"

Forbes: "Trump earns $1 billion through virtual assets"

Hyperliquid Surpasses $248 Billion in Trading Volume Last Month, Marking All-Time High

US Ethereum Spot ETF Records Net Inflow for 14 Consecutive Trading Days... Price Remains Flat