11:33
Planet Evening News
1. A certain exchange: At least 200 Alpha Points users can participate in the Boom (BOOM) TGE event;2. The US Treasury Secretary stated that talks with China are planned in the coming weeks to advance discussions on US-China trade and other issues;3. The Blockchain Group has raised 3 million euros to increase its Bitcoin holdings;4. Exchange Alpha will list PROMPTALE AI (TALE) on July 11;5. BlackRock’s spot Bitcoin ETF IBIT holds over 700,000 BTC;6. Kingboard Investments (01328.HK) surged over 620% after announcing exploration of stablecoin application scenarios;7. Musk said “OpenAI equity is fake,” but has not yet responded regarding SpaceX Coin;8. Matrixport: Stablecoin minting momentum is weakening, and bullish investors may consider selling call options to hedge risks;9. Grass has launched Android mobile mining, with a limited-time 3x points multiplier available;10. Metaplanet’s second phase Bitcoin strategy plans to collateralize BTC for financing and is considering acquiring a domestic digital bank;11. DWF Labs partner: Stablecoins and BTC account for 89% of USDf reserve assets, with a current over-collateralization ratio of 116%;12. US-listed company Sequans announced the completion of a $384 million strategic investment and the launch of a Bitcoin treasury plan;13. Exchange Alpha has listed BOOM (BOOM);14. Institutions: Trump has postponed tariff hikes, but uncertainty still clouds US investment and inflation;15. Hong Kong crypto concept stocks rallied again at the close, with Guotai Junan International up over 25%.
11:32
Hong Hao: The Scale of Stablecoins Will Soon Exceed One Trillion Dollars
According to a report by Jinse Finance, renowned economist Hong Hao recently shared his latest views in an online discussion on the topic "Stablecoins: Just a Fad or a True Game Changer?" Hong Hao believes that most stablecoins issued in Hong Kong will be pegged to the Hong Kong dollar rather than U.S. Treasury bonds. In addition, the Hong Kong Monetary Authority holds a very large amount of foreign exchange reserves, so stablecoins from Hong Kong may be even more stable than those from the United States. He also noted that the current stablecoin market is still very small, with a total value of only $250 billion. He expects that as more participants enter the market, this figure will soon exceed $1 trillion. Theoretically, the issuance of stablecoins does increase demand for U.S. Treasuries, since there are now multiple market participants issuing stablecoins backed by U.S. Treasuries. Hong Hao predicts that in the future, the real demand for U.S. Treasuries will depend on the fiscal stability of the U.S. government. Additionally, he pointed out that stablecoins are one of the better ways to address the cost and speed issues of cross-border transactions, making it easier for foreign participants to trade with China. However, for Chinese regulators, stablecoins also mean the decentralization of payment systems, which could pose challenges to the existing regulatory framework. Nevertheless, he said, "The stablecoin boom has already begun, and the role of stablecoin technology in daily life will become increasingly prominent—this is a trend."
11:27
Shares of Several South Korean Banks Surge Following Stablecoin Trademark Applications
According to Jinse Finance, data from Google Finance shows that among the South Korean banks that have recently applied for won-pegged stablecoin trademarks, at least three have seen their stock prices rise by 10% to nearly 20%. The market response indicates that investors are optimistic about these banks’ potential opportunities in the cryptocurrency sector. The trademark applications were submitted shortly after South Korea’s 21st president, Lee Jae-myung, took office on June 4. His campaign included crypto-friendly promises, such as developing a stablecoin pegged to the Korean won. On June 23, an exchange applied for stablecoin-related trademarks, submitting at least 12 cryptocurrency-related trademark applications. The following day, its stock price jumped from 31,000 won (22.6 USD) to 37,000 won (27 USD), an increase of 19.3%. Kookmin Bank’s stock price reached 122,000 won (89 USD), up 13.38% since it applied for a stablecoin trademark.