1. Federal Reserve official Barkin states there is no urgent reason to cut interest rates.
Odaily Planet Daily reported that Federal Reserve official Barkin stated that current data does not provide an urgent reason to cut interest rates. - Original
2. Coinbase obtains EU MiCA license and relocates headquarters to Luxembourg.
Crypto exchange Coinbase announced it has obtained a MiCA license issued by the Luxembourg financial regulator CSSF, becoming the first US crypto trading platform to receive full authorization from the EU. The company also announced the relocation of its EU headquarters from Ireland to Luxembourg, citing the latter's more forward-looking financial policy environment. Coinbase CEO Brian Armstrong stated, "Coinbase is fully committed to the European market, and MiCA sets the standard. Luxembourg, with its business-friendly environment and prudent regulatory approach, is leading industry development." - Original
3. BlackRock's Bitcoin spot ETF reaches $69.7 billion in scale, accounting for 3.25% of Bitcoin supply.
The Bitcoin spot ETF (IBIT) managed by BlackRock has exceeded $69.7 billion in scale, holding 3.25% of the total Bitcoin supply and capturing 54.7% of the US Bitcoin ETF market. Notably, this ETF has entered the top 25 in global ETF asset management scale in less than a year and a half of operation. Glassnode data shows that the average amount of a single Bitcoin transaction has reached $36,200, with transactions over $100,000 accounting for 89%, indicating that institutional investors are dominating the market. However, a report by CryptoQuant pointed out that the number of short-term Bitcoin holders has decreased from 800,000 to 4.5 million since May 27, indicating that new market funds are drying up. CryptoQuant believes that if investor demand continues to weaken, Bitcoin may seek support around the $92,000 level. - Original
4. Norway plans to temporarily ban the establishment of new cryptocurrency mining facilities.
The Norwegian government announced on Friday that it plans to temporarily prohibit the establishment of new data centers for cryptocurrency mining that use the most energy-intensive technologies to save electricity for other industries. Minister of Digitalization and Public Administration Karianne Tung stated that the Labour Party government clearly intends to limit cryptocurrency mining activities in Norway as much as possible, as cryptocurrency mining is very energy-intensive and creates minimal employment opportunities and income for local communities. The government indicated that this temporary ban could be implemented in the fall of 2025. - Original
5. Celsius founder abandons bankruptcy asset claims, giving creditors more chances for repayment.
Celsius founder and former CEO Alex Mashinsky and related entities have officially abandoned all claims against Celsius's bankruptcy assets and will no longer participate in any distribution of the bankruptcy estate. The agreement was submitted to the U.S. Bankruptcy Court for the Southern District of New York earlier this week. According to the agreement, all claims submitted or registered by Mashinsky and his three affiliated companies (AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC) will be withdrawn and deemed invalid, and they will not receive any payments under the bankruptcy proceedings. This decision will release some assets that were previously frozen due to their claims for the repayment of more creditors. Mashinsky had previously been sentenced to 12 years in federal prison in May 2025 for defrauding Celsius customers and manipulating the price of the platform's token CEL. He pleaded guilty in December 2024 to charges of commodity fraud and securities fraud. Celsius filed for bankruptcy protection in July 2022 and reached two settlement agreements in 2023, transforming into a new entity focused on repaying creditors. As of August 2024, the platform has issued over $2.5 billion to approximately 251,000 creditors in 165 countries, covering about 93% of the total claims. - Original
6. Texas police forcefully dismantled a Bitcoin ATM to recover $25,000 lost to fraud.
The sheriff of Jasper County, Texas, used cutting tools to forcibly dismantle a Bitcoin ATM in an attempt to recover $25,000 defrauded from local residents. The victims' family fell prey to a scam involving impersonators posing as government officials, transferring money to the fraudsters via this machine. Sheriff Chuck Havard seized about $32,000 in cash from the machine based on a search warrant but admitted that the location of the fraudsters has not yet been identified. The ATM operator is Bitcoin Depot, and the incident has sparked community controversy, with some questioning the legality of the law enforcement actions. The sheriff emphasized that all resources will be used to combat fraud against residents in the jurisdiction. - Original
7. Hong Kong does not rule out stablecoins pegged to the renminbi, needs to comprehensively assess risks.
Odaily Planet Daily reported that Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, recently stated at the Lujiazui Forum that stablecoins should focus on addressing real economic needs rather than merely pursuing technological innovation or interoperability. He pointed out that the issuance of stablecoins should follow regulatory principles similar to those of traditional financial institutions, including the requirement for issuers to have capital and to maintain sufficient reserves at all times, ensuring that stablecoins can be redeemed within one business day. In response to the question of whether stablecoins could be pegged to the renminbi to promote its internationalization, Hui replied that this possibility cannot be ruled out from a legal perspective. The regulatory logic in Hong Kong is clear and has legal basis, allowing stablecoins to be anchored to various fiat currencies. However, he also emphasized that if such arrangements are to be implemented, it is essential to comprehensively consider the country's exchange rate mechanism, monetary policy, and related risks. - Original
8. Ethereum developers finalize the scope of the Fusaka upgrade, adding EIP 7939.
Meeting minutes show that the 214th Ethereum execution layer core developer meeting (ACDE) revisited decisions made in the last meeting, agreeing to keep the final scope of the Fusaka upgrade largely unchanged, with the addition of one extra EIP, namely EIP 7939. Developers agreed to include the following 12 EIPs in the Fusaka upgrade: EIP-7594 (PeerDAS - peer data availability sampling), EIP-7823 (set upper limit for MODEXP), EIP-7825 (transaction gas limit), EIP-7883 (increase ModExp gas cost), EIP-7892 (hard fork limited to Blob parameters), EIP-7917 (deterministic proposer foresight), EIP-7918 (blob base fee limited by execution costs), EIP-7935 (set default gas limit to XX0M), EIP-7951 (secp256r1 curve supported precompiled), EIP-7907 (measure contract code size and increase limits), EIP-7934 (RLP execution block size limit), [New] EIP-7939 (new opcode for counting leading zeros). Developers adjusted some implementation details of EIPs: reducing the contract code size limit for EIP-7907 from 256KB to 48KB; adjusting the blob base fee parameter for EIP-7918 from 2^14 to 2^13; and moving the maximum blob count parameter from EIP-7892 to EIP-7594. The meeting decided to launch the Fusaka Devnet 2 test network on June 23 if at least 3 consensus layer and 3 execution layer client teams met the readiness conditions. Developers also discussed two new proposals for the Glamsterdam upgrade, but due to insufficient test data, some parameter adjustments will be postponed to the Devnet 3 phase for implementation. - Original
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