On June 20, Binance founder CZ participated in an interview on the Galaxy Brains podcast with Galaxy Research Director Alex Thorn. CZ stated that he is no longer operating the trading platform, allowing him more time to communicate with developers, and he expressed excitement about some new features of BNB Chain. He mentioned that BNB Chain is developing its next version, which will be faster, cheaper, and include more privacy controls. CZ also advised blockchain developers to avoid making major upgrades during a bull market and to push for significant updates during quieter bear markets. CZ admitted that he was skeptical about Real World Assets (RWA) a year to a year and a half ago, uncertain whether related assets would be traded or could develop. However, he was surprised by the rapid development of RWA, noting that stablecoins, oil futures, and AI stocks have gained good acceptance within the crypto community. This indicates that many people globally have been seeking access to these assets. He emphasized that crypto should not be viewed as a separate industry but rather as a new technological tool that makes financial transactions faster, cheaper, and more transparent. He believes traditional financial institutions can utilize blockchain, and crypto companies can offer services similar to traditional finance, such as loans, savings, stock trading, remittances, and payments. The future should not have a clear divide between traditional finance and crypto, but rather evolve into a more globalized, faster, and lower-cost financial industry.
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CZ: No Longer Operating Trading Platform, Excited About New Features of BNB Chain
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Ceasefire Announced, Israeli Drones Continue Airstrikes in Southern Lebanon
On June 19, according to reports from Lebanon, Israeli drones continued to carry out airstrikes in southern Lebanon, targeting towns and mountainous areas in Nabatiyeh and Jezzine. Ibrahim Mousawi, a member of the Lebanese Parliament from Hezbollah, stated in an interview that after both sides agreed to a ceasefire, Hezbollah immediately began to comply with the agreement while reserving the right to respond if Israel violated the ceasefire. He said, 'If Israel respects the ceasefire, we will also respect the ceasefire.' Earlier, on June 19, the Israel Defense Forces reported that air raid sirens were activated in the northern Israeli region of Zarit due to suspected drone incursions. (CCTV) -
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ETH Surpasses $1700
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BTC Surpasses $63,000
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Upbit to Launch RE KRW, BTC, and USDT Trading Pairs
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IRGC: Ready to Inflict a Crushing Defeat on Enemies
On June 19, the Islamic Revolutionary Guard Corps (IRGC) issued a statement today, asserting that the remarks made by Iran's Supreme Leader Mujtaba regarding the Iran-U.S. memorandum of understanding "further solidified the united front of the Iranian people, enabling them and the armed forces to more resolutely safeguard the achievements of victory, and providing invaluable resources for Iranian politicians in their pursuit of national rights." The statement indicated that the aggressors have faced defeat on the battlefield — they once threatened to "wipe Iran off the map" and "send Iran back to the Stone Age," but now they are "desperately retreating to the point of begging for understanding and negotiation," bowing their heads before the Iranian people. The statement warned that if the enemies attempt to make unreasonable demands again, infringing upon the rights of the Iranian nation as they have in the past, the IRGC will be fully prepared to respond with even greater strength across land, sea, air, and all hybrid warfare domains — ready to deliver a more devastating historical defeat to the enemies as soon as the Supreme Leader gives the order. (CCTV International News) -
CFTC and SEC Seek Public Input to Clarify 'Swaps' Regulatory Definition
On June 19, in the context of related litigation at the Chicago Mercantile Exchange (CME), the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) jointly issued a public request for comments, planning to update and clarify the definitions and regulatory interpretations of certain derivative products. This inquiry covers a wide range of topics, including the definition of 'swaps', the definition of 'security-based swaps', and the delineation of the exemptions applicable to these definitions. The two agencies are also seeking public input on the regulatory treatment of new or emerging financial products, which may include event contracts on prediction market platforms and perpetual futures/perpetual contracts. CFTC Chairman Michael S. Selig stated in a press release: 'Today's joint public request for comments provides an opportunity to address the long-standing regulatory ambiguities in Title VII of the Dodd-Frank Act. These ambiguities have been hindering fair competition and responsible innovation.' According to Title VII of the Dodd-Frank Act, the CFTC has regulatory authority over swap products, except for security-based swaps. SEC Chairman Paul Atkins also noted in a statement that clarifying certain definitions has become urgent, particularly regarding the regulatory classification of event-driven products. -
Morgan Stanley Submits Revised ETF Applications for Ethereum and SOL, Disclosing Lowest Market Fees
On June 19, Morgan Stanley submitted revised filings for spot Ethereum and Solana ETFs, marking new progress in the review process following the approval of Bitcoin ETFs. The Wall Street investment bank filed updated S-1 registration statements for the two ETFs with the U.S. SEC on Thursday. This is the second update to the applications for the Ethereum and Solana ETFs originally submitted in January. The latest S-1 documents reveal that both ETFs will have an issuance fee rate set at 0.14%, making them the lowest fee products in the U.S. market for Ethereum and Solana ETFs. According to SoSoValue data, the current fee rate for Grayscale's mini Ethereum trust is 0.15%, the lowest in the Ethereum sector, while Franklin Templeton's Solana ETF SOEZ has a fee rate of 0.19%, the lowest in the Solana segment. The revised filings also disclose that Figment, Galaxy blockchain infrastructure company, and Canada’s Coinbase will serve as the staking service providers for the products. Morgan Stanley's upcoming ETH and SOL ETFs plan to stake a portion of their holdings to earn additional staking rewards. The documents specify that 5% of the staking earnings will be allocated as service fees for the staking service providers and custodians. -
Fidelity Launches Money Market Fund for Stablecoin Issuers Aligned with the GENIUS Act
On June 19, Fidelity Investments launched a new government money market fund designed as a reserve storage tool for stablecoin issuing institutions. The fund, named Fidelity Digital Reserve Fund (Ticker: FYMXX), aims to achieve current income while ensuring principal safety and maintaining high liquidity, as stated in its prospectus. The fund shares are exclusively available to institutional investors, including various stablecoin issuers, and the product was officially established on June 15. The prospectus specifies: 'The fund shares are expected to be primarily held by one or more stablecoin issuers as part or all of their reserve assets for issuing stablecoins to users.' This new fund will only invest in compliant reserve assets permitted for stablecoin issuers under the GENIUS Act, including U.S. Treasury bills, medium-term notes, long-term government bonds, cash, overnight repurchase agreements, and other government money market funds that meet stablecoin regulatory requirements. The minimum initial subscription amount for the fund is set at $1 million, although the fund company can independently decide to waive or reduce this threshold. The product aims to maintain a stable net asset value of $1 per share, with an annual management fee rate of 0.25%. -
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