Odaily Planet Daily News Hong Kong Financial Services and Treasury Secretary Paul Chan said at the Lujiazui Forum recently that stablecoins should focus on solving real economic needs rather than just pursuing technological innovation or interconnection. He pointed out that the issuance of stablecoins should follow similar regulatory principles as traditional financial institutions, including that issuers must have capital, always maintain sufficient reserves, and ensure that stablecoins can be redeemed within one working day. Regarding whether stablecoins can be linked to the RMB to promote the internationalization of the RMB, Paul Chan responded that this possibility is not ruled out from a legal perspective. Hong Kong's regulatory logic is clear and has a legal basis, allowing stablecoins to be anchored to multiple legal currencies. However, he also emphasized that if such arrangements are to be implemented, the country's exchange rate mechanism, monetary policy and related risks must be comprehensively considered.

What is Labubu? What is its relationship with the crypto industry? Why is it so popular? Why is the meme coin LABUBU on the verge of extinction?

According to Foresight News, Tools for Humanity, a contributor to Worldcoin, has announced the acquisition of Dawn Wallet. The wallet service will gradually shut down over the coming weeks, with comprehensive support provided for the transition of personal assets. Additionally, Dawn Wallet founders Tom Waite and Isaac Rodriguez have joined Tools for Humanity.

According to PANews, trader AguilaTrades has expanded their Bitcoin long position to $318 million, currently showing an unrealized profit of $3.95 million. The trader initiated their third long position on Bitcoin yesterday afternoon, gradually increasing the position to its current level through multiple additions. The details of AguilaTrades' position include a 20x leverage on 3,003 BTC, with an entry price of $104,820 and a liquidation price of $98,956. Previously, when the position size exceeded $400 million, Bitcoin experienced a pullback of over $4,000.

في البداية، انخفضت أسعار الذهب يوم الجمعة. وبالمقابل، كانت في طريقها لتسجيل خسارة أسبوعية. لأن الدولار كان أقوى هذا الأسبوع. وعلاوة على ذلك، قلّت توقعات خفض الفائدة source: https://www.twsiat.com/%d8%a7%d9%84%d8%b0%d9%87%d8%a8-%d9%8a%d8%aa%d8%b1%d8%a7%d8%ac%d8%b9-%d8%a3%d8%b3%d8%a8%d9%88%d8%b9%d9%8a%d9%8b%d8%a7/

According to PANews, Circle's stock experienced a significant increase of nearly 13% in pre-market trading, reaching $225.78. This follows a substantial rise on Wednesday when Circle's stock (CRCL.N) surpassed $200, closing with a gain of 34.25%. The surge in Circle's stock price comes amid recent comments from the founder of Airwallex, who suggested that it might be time to short Circle. This statement has sparked discussions and speculation in the market regarding Circle's future performance.

Russia’s Power Systems and Finam have launched the country’s first Bitcoin mining investment fund, using gas-powered rigs and requiring a minimum investment of 5 million rubles. The closed-end fund will mine Bitcoin and share profits with qualified investors, but returns depend on Bitcoin staying above $35,000.

According to market data, Circle's US stock rose more than 15% before the market opened, temporarily reporting $229. Earlier on Wednesday, the stock broke through the $200 mark and closed up 34.25%. Previously, the founder of Airwallex publicly stated that "it's time to short Circle."

Huawei Technologies is preparing to introduce its Ascend 910C artificial intelligence processor, a chip designed to rival Nvidia’s flagship H100 GPU, according to a report by The Wall Street Journal.

Arizona's Senate narrowly approves Bitcoin reserve bill HB 2324, creating a digital asset reserve from seized cryptocurrencies. source: https://coincu.com/344416-arizona-bitcoin-reserve-bill-senate

Odaily Planet Daily News According to @EmberCN monitoring, trader @AguilaTrades' BTC long position has increased to $318 million, with a current floating profit of about $3.95 million. He started this round of long positions yesterday afternoon and subsequently increased his positions several times. He currently holds a total of 3,003 BTC, with a leverage of 20 times, an average opening price of $104,820, and a liquidation price of $98,956. The two previous times when his position exceeded $400 million, BTC experienced a pullback of more than $4,000.

Arizona’s Senate voted to bring back a bill to create a state Bitcoin reserve fund. source: https://www.cryptopolitan.com/arizona-senate-revives-bitcoin-reserve-bill/

20-6-2025 – Bitcoin has surged past the 106,000 USDT threshold, now trading at 106,000. 007813 USDT, as reported by Binance Market Data. The digital asset recorded a modest yet steady 1. 20% rise over the past 24 hours, reflecting sustained market confidence. source: https://www.cointrackdaily.com/bitcoin-breaks-106000-usdt-barrier-in-fresh-price-surge/

The US "GENIUS Act" establishes a regulatory framework for digital dollars, impacts Tether, benefits Circle, and reshapes the stablecoin landscape.

“Bitcoin uses algorithms and mathematics to simulate the monetary properties of gold, and gradually surpasses gold in various monetary properties.”

BitMEX co-founder Arthur Hayes, known for making bold and sometimes controversial Bitcoin price predictions, said he is not bothered if he is wrong.

Alipay and Meizu completed the first smart glasses-enabled e-wallet payment outside mainland China, using Meizu’s StarV Snap glasses and AlipayHK. The glasses scanned a QR code and used voice commands with AI support to authorise the payment.

Elon Musk’s artificial intelligence company, xAI is being accused of environmental racism, after its data centre was caught violating the Clean Air Act.

After the introduction of the Alpha points rules, other exchanges followed suit. For the industry, providing a new paradigm and gameplay is also the responsibility of the industry development that it shoulders as the industry leader.

Spark’s vision is to address the inefficiencies of traditional banking and the scalability limitations of existing DeFi money markets, and position itself as the most advanced on-chain yield engine.