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Coins.ph Launches PHPC – The First Licensed Stablecoin in the Philippines
PHPC has passed the BSP's regulatory sandbox, targeting 16 million Filipinos abroad in the $40 billion remittance market.
Coins.ph, one of the largest crypto platforms in the Philippines, has just announced that the stablecoin PHPC has officially passed the testing phase in the regulatory sandbox of the Central Bank of the Philippines. The project joined the sandbox in April 2024 and after completing a rigorous oversight process, PHPC became the first officially licensed stablecoin in the Philippines, pegged to the peso and aimed at improving the efficiency of domestic digital financial services.
U.S. Senate Approves Procedural Vote on GENIUS Bill with 68 Votes in Favor
The Senate's 68-30 vote limited the debate time for the stablecoin bill, paving the way for its passage next weekend.
The U.S. Senate yesterday took an important step in the stablecoin legislative process as 68 votes in favor and 30 against approved the procedural step for the GENIUS Bill. This procedural vote limits the subsequent debate time and suggests that the current version is likely to be the final version of the bill, marking a high probability of passage next weekend.
Bitcoin Faces Quantum Attack Threat with 6.26 Million BTC at Risk
The Chaincode report warns that quantum computers could emerge in 2030, threatening 4-10 million Bitcoins using ECDSA cryptography.
A new report from Chaincode warns that quantum computers capable of breaking encryption could emerge as early as 2030, putting Bitcoin's cryptographic foundations and the entire digital asset space in jeopardy. It is estimated that between 4 to 10 million BTC are at risk, with approximately 6.26 million BTC identified as the most vulnerable due to the use of address types that can be exploited by Shor's algorithm.
Ant Group Quietly Seeks Stablecoin License in Three Countries
Jack Ma's Ant Group is seeking stablecoin licensing in Singapore, Hong Kong, and Luxembourg to strengthen cross-border payments.
According to an exclusive report by Bloomberg, Ant Group is quietly pursuing its ambition to obtain a stablecoin issuance license in several countries, including Singapore, Hong Kong, and Luxembourg. This fintech group backed by Jack Ma is reportedly proactively seeking opportunities in the stablecoin space to enhance cross-border payment capabilities and international treasury management.
Trump Declares Himself 'The First Crypto President' At Coinbase Summit
President Trump announced the Strategic Bitcoin Reserve and the National Digital Asset Reserve, committing to a clear legal framework for the U.S. to lead the crypto market.
In a speech at the 'State of Crypto' Summit hosted by Coinbase on Thursday, President Donald Trump asserted himself as the 'first crypto president' and presented a series of federal initiatives aimed at positioning the United States as a global leader in the digital asset field. The speech was viewed as a summary of the crypto strategy for his second presidential term.
Shopify Integrates USDC Through Coinbase and Stripe for Global Payments
Shopify Payments supports USDC payments via the Base network in the early access phase, with a global expansion expected by the end of 2025.
Shopify has officially integrated the stablecoin USDC into the Shopify Payments system through a partnership with Coinbase and Stripe, significantly expanding global payment options for sellers. The feature is currently in the early access phase, allowing sellers worldwide to accept USDC payments from customers through the Base blockchain network, a Layer-2 solution on Ethereum developed by Coinbase.
Tokenized Treasury Bonds Attract $340 Million in 19 Days
The tokenized U.S. Treasury bond market increased by 4.86% to $7.34 billion, reflecting strong acceptance from institutional investors.
The tokenized U.S. Treasury bond market has recorded impressive growth with $340 million in new capital inflows in just the past 19 days. As of June 12, 2025, the total market value of blockchain-integrated U.S. Treasury bond funds has reached $7.34 billion, up 4.86% from $6.96 billion recorded on May 24, according to data from the specialized digital asset tracking platform rwa.xyz.
USDC Launches Native on XRP Ledger Boosting Cross-chain Finance
Circle Internet Group officially integrates native USDC on the XRP Ledger, expanding to 22 blockchains and eliminating the need for a bridge.
Circle Internet Group announced on June 11th that the USDC stablecoin is officially natively supported on the XRP Ledger, marking a significant milestone in the field of cross-chain finance. This deployment is carried out through Circle Mint and Circle APIs, completely eliminating the need for bridges and providing direct access to USDC for developers, financial institutions, and individual users.
U.S. Treasury Secretary: Stablecoins Could Exceed $2 Trillion by 2028
U.S. Treasury Secretary Scott Bessent predicts that the stablecoin market will grow from the current $240 billion to $2 trillion, driving demand for Treasury bonds.
During a hearing before the Senate Appropriations Committee on June 11, U.S. Treasury Secretary Scott Bessent affirmed the strategic role of stablecoins in reinforcing the global dominance of the USD. He stated that the size of the stablecoin market could exceed $2 trillion by 2028, creating strong demand for U.S. Treasury bonds.
Bitcoin Plummets to 103,362 USD Due to Airstrikes in Tehran
Bitcoin fell 4.1% below 104,000 USD after airstrikes in Tehran, while gold surged as investors sought safe-haven assets.
The cryptocurrency market experienced a volatile trading session as Bitcoin sharply dropped to a daily low of 103,362 USD on Wednesday, following news of airstrikes in Tehran that shifted investor sentiment towards risk aversion. The largest digital currency by market capitalization lost 4.1% of its value in the most recent trading session, reflecting increased caution among investors amid rising tensions in the Middle East.
FSB Warns Crypto is Approaching a Tipping Point of Systemic Risk
FSB Chair Klaas Knot warns that crypto is nearing a 'tipping point', as stablecoins and ETFs are increasing systemic risks to traditional finance.
The Financial Stability Board (FSB) has just issued a strong warning about the potential risks from the cryptocurrency sector, particularly in the context of stablecoins and crypto exchange-traded funds becoming increasingly popular, accelerating the integration between the cryptocurrency market and traditional finance (TradFi).
Hong Kong Develops Crypto Tracking Tool Against Money Laundering
Hong Kong Customs and the University of Hong Kong are developing a crypto tracking tool, in the context of 7 out of 39 serious money laundering cases recently involving digital assets.
The Hong Kong Customs and Excise Department is collaborating with the University of Hong Kong to develop a specialized digital tool aimed at tracing cryptocurrency transactions suspected of being related to money laundering. This move comes in the context of the special administrative region witnessing a significant increase in complex financial cases involving digital assets.
JPMorgan and Chainlink Complete Cross-Chain Payment Transaction for Real Assets
JPMorgan, Chainlink, and Ondo Finance have successfully completed a cross-chain payment transaction, marking a significant step in connecting traditional finance with the real-world asset (RWA) market.
Chainlink, the leading blockchain oracle company, along with JPMorgan's Kinexys branch and digital asset company Ondo Finance, has achieved a notable milestone by completing a cross-chain 'delivery versus payment' (DvP) transaction.
Trident Digital Establishes 500 Million USD XRP Reserve Fund
The Web3 company Trident Digital announced plans to set up a 500 million USD XRP reserve fund, despite reporting losses and negative market reactions.
Trident Digital Tech Holdings, a Web3 technology company based in Singapore, has just announced an ambitious plan to establish an XRP reserve fund of up to 500 million USD. This project is expected to be implemented in the second half of 2025, through stock issuance and other financial instruments, depending on market conditions and the regulatory environment.
Clarity Act Bill Passes Two Key House Committees in the U.S.
The crypto infrastructure bill Clarity Act has received bipartisan support with votes of 47-6 and 32-19, awaiting the consolidation of amendments before the full vote.
The Clarity Act – a major U.S. bill aimed at establishing a legal framework for the digital asset market infrastructure – has passed two key committees in the House yesterday. The House Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC), has amended and approved the bill with 47 votes in favor and 6 against. Shortly after, the House Financial Services Committee, responsible for overseeing the Securities and Exchange Commission (SEC), also approved the bill with a ratio of 32-19.
PayPal Prepares to Deploy PYUSD on the Stellar Blockchain
PayPal's stablecoin is nearing a market capitalization of 1 billion USD, awaiting NYDFS approval to expand into cross-border payment networks.
Today, PayPal announced plans to expand the deployment of the PYUSD stablecoin on the Stellar network – a blockchain specifically designed for payments, particularly cross-border payments. However, this plan depends on receiving a license from the New York State Department of Financial Services (NYDFS), reflecting PayPal's strict legal compliance approach.
Ripple Invests 5 Million USD in Blockchain Education in the APAC Region
Ripple expands the UBRI initiative, committing to support 11 universities in the APAC region to develop training and blockchain research.
Ripple has just announced the expansion of the University Blockchain Research Initiative (UBRI) – a global collaborative program with universities – in the Asia-Pacific (APAC) region. As part of this expansion, Ripple is committed to investing over 5 million USD to support universities and academic programs aimed at training blockchain experts and promoting research in the region.
After the $1.1 billion Bridge deal, Stripe continues to acquire a crypto wallet infrastructure provider with 75 million accounts and a valuation of $230 million.
Stripe Inc. has reached an agreement to acquire Privy, a provider of crypto wallet infrastructure, according to information disclosed by Bloomberg reporter Emily Mason on Wednesday. Privy later confirmed the deal on platform X, marking an important step in the fintech giant's strategy to expand into the blockchain sector.
Bitcoin Moves Sideways Despite Declining Inflation and U.S.-China Agreement
Bitcoin hovers around $109,000 while the S&P 500 rises 0.17%, with trading volume down 12.35% to $50.47 billion.
On Wednesday morning, Bitcoin continued to fluctuate around the $110,000 mark despite positive economic data that had propelled the stock market sharply upward. Bitcoin then fell below $109,000 in the afternoon, showing a clear divergence from traditional risk assets.
The Trump administration may view this as a significant step as it successfully negotiates a trade deal with China following a series of tense meetings in London. Domestically, the U.S. Bureau of Labor Statistics (BLS) released inflation data for May that was lower than expected, while stock indices rose sharply thanks to this positive information.