1. Brazil imposes a unified tax of 17.5% on cryptocurrency gains, abolishing the small exemption policy
Brazil has abolished its long-standing tax exemption policy on cryptocurrency gains. According to the new provisional decree (Decree No. 1303), individual profits from cryptocurrencies will be uniformly taxed at a rate of 17.5%. Previously, individuals selling no more than 35,000 reais (approximately $6,300) worth of cryptocurrency per month were exempt from taxes. Before this change, profits exceeding this limit were subject to a progressive tax rate, with a maximum rate of 22.5% applicable to transaction amounts exceeding $5.4 million. -Original
2. Echo Protocol wallet was attacked, losing over $266 million, and withdrawals are fully suspended
Echo Protocol's official statement regarding Bitcoin liquidity re-staking and yield layer indicates that today their wallet holding 2,515.648579 uBTC (currently valued over $266 million) suffered a highly complex supply chain attack and has been maliciously compromised. The team has initiated an emergency investigation and will release an event recap report as soon as possible. Currently, the collateralization rate of the platform's treasury has dropped to 20%. To ensure system security, all withdrawal operations have been suspended since midnight Eastern Time. Echo Protocol states it is closely working with auditing firms and security experts to handle this incident and will later announce a reward program to encourage informants to assist in tracking the stolen assets. -Original
3. ConsenSys founder Joseph Lubin confirms LINEA will be the first to launch a token
ConsenSys founder Joseph Lubin responded to user inquiries about whether MetaMask will launch a token, stating that ConsenSys has short-term and medium-term strategic plans involving the protocolization of existing products and other projects, while Web3 protocols generally require token support. Lubin emphasized that LINEA will be the first to launch a token, with more tokens to be introduced in the future, and synergy will be achieved among various protocols. -Original
4. Coinbase warns that leveraged corporate purchases of cryptocurrencies may trigger systemic risks
Coinbase Institutional states that leveraged corporate purchases of cryptocurrencies may pose systemic risks; however, the impact of this risk seems limited in the short term. Meanwhile, supported by factors such as improved expectations for U.S. economic growth, potential interest rate cuts by the Federal Reserve, increased corporate adoption rates, and clearer regulations, the cryptocurrency market is expected to undergo constructive development in the second half of 2025. It is reported that more and more publicly listed companies are beginning to adopt Bitcoin-backed balance sheets, with a total of 228 companies reporting cryptocurrency holdings under the new rules of the U.S. Financial Accounting Standards Board. -Original
5. Bitdeer announces Bitcoin holdings exceed 1,400 coins, continuing to increase holdings
Nasdaq-listed Bitcoin mining company Bitdeer released the latest data on Bitcoin holdings on the X platform, revealing that as of June 13, its total Bitcoin holdings have exceeded 1,400 coins, increasing to 1,408.9 coins (Note: this quantity is pure holdings and does not include Bitcoin deposited by clients). Additionally, this week its Bitcoin mining output was 45.5 BTC, but it sold 45.3 BTC. -Original
6. Companies like Ant Group and Xiaomi actively participate in stablecoin layout, exploring cross-border payment applications
Ant Group International and Ant Group Digital intend to apply for a stablecoin license in Hong Kong, while LianLian Digital is also exploring applying for a license in Hong Kong. Xiaomi's Star Bank announced a stablecoin cooperation with JD.com's JD Coin Chain Technology, which has already become one of the first participants in the Hong Kong Monetary Authority's stablecoin issuer 'sandbox'. The stablecoin market is rapidly expanding, with a global total market value climbing to about $246.382 billion. In the international market, U.S. Bank, PayPal, and others have announced the development of stablecoins, targeting the cross-border payment market. Mastercard will add a 'stablecoin settlement' option in April 2025 to promote merchant adoption. -Original
7. Hong Kong officials encourage exploration of virtual asset technology and innovative applications
Hong Kong's Acting Secretary for Financial Services and the Treasury Chan Ho-Lam stated that the second policy declaration regarding the development of virtual assets will be launched within this year. The next step will explore how to combine Hong Kong's traditional financial advantages with technological collaboration and innovation in virtual assets, using virtual assets to enhance the safety and flexibility of Hong Kong's real economy, and encourage local and international companies to explore innovative applications of virtual assets. -Original
8. Musk denies drug use rumors, responds saying 'I don't do drugs'
In response to the topic 'U.S. talk show host Bill Maher claims Elon Musk has become addicted to drugs,' Musk responded saying, 'I don't do drugs, seriously.' -Original
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