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According to ChainCatcher, U.S. President Trump stated that the U.S. has reached a trade agreement with Vietnam. Vietnam will pay a 20% tariff to the U.S. on goods entering the country, and a 40% tariff will be imposed on transshipped goods.In return, Vietnam will fully open its market to the U.S., allowing American products to be sold at zero tariffs. Trump believes that SUVs perform well in the U.S. market and will be a great addition to the Vietnamese market.

According to BlockBeats, on June 24, Guotai Junan International Holdings Co., Ltd. was approved by the Hong Kong Securities and Futures Commission to upgrade its securities trading license to provide virtual asset trading services. Customers can trade Bitcoin, Ethereum, USDT, etc.

Guotai Junan International has become the first Chinese brokerage firm in Hong Kong to provide a full range of virtual asset services, covering trading, consulting and product issuance. The company is actively expanding its virtual asset business to help Hong Kong build an international virtual asset center.

According to reports by Wu, Canaan Creative has announced the cessation of its non-core AI semiconductor business to focus on Bitcoin mining machine sales, self-mining, and consumer mining products. This move aims to streamline operations, improve capital efficiency, and reduce non-core expenditures. In the fiscal year 2024, AI business revenue is only about $900,000, yet it accounts for approximately 15% of operating expenses.

According to Cointelegraph, real estate magnate Grant Cardone announced that his company purchased BTC for the first time, and Cardone Capital added 1,000 BTC to its balance sheet. CEO Grant Cardone said that the strategy combines the best of two assets, real estate and Bitcoin, and plans to add another 3,000 BTC this year.The purchase, valued at more than $101 million, puts Cardone Capital ahead of Core Scientific and Cipher Mining in Bitcoin holdings. Cardone Capital is a private equity real estate firm founded in 2017 that manages more than 14,000 units and has approximately $5.1 billion in assets under management.

On both sides of the Pacific, a narrative about the future of stablecoins is unfolding in strikingly different forms. (Background: Chinese state media downplay the instability of US stablecoins: Circle's IPO bubble, US debt defaults may lead to decoupling) (Additional context: JD.com joins the global stablecoin race: from sandbox to license competition) On both sides of the Pacific, a song of ice and fire is taking place, as a narrative about the future of stablecoins unfolds in strikingly different forms. On the other side is the cautious layout of industry giants. Recently, the hype around stablecoins in mainland China has also continued to rise. The Governor of the People's Bank of China, Pan Gongsheng, attended the 2025 Lujiazui Forum and mentioned stablecoins for the first time, stating that emerging technologies such as blockchain and distributed ledgers are driving the robust development of central bank digital currencies and stablecoins, achieving payment and settlement, fundamentally reshaping the traditional payment system, significantly shortening cross-border payment chains, while also posing enormous challenges to financial regulation. In Hong Kong, the (Stablecoin Bill) is confirmed to officially take effect on August 1. On the eve of licensing in Hong Kong, many banks, tech giants, and fintech companies are also accelerating their entry into the crypto market, frequently announcing plans to apply for stablecoin licenses: On June 12, two companies under Ant Group, Ant International and Ant Digital Technology, announced the initiation of their stablecoin license applications. Subsequently, relevant individuals indicated that Lianlian Digital is also actively exploring the possibility of applying for relevant licenses in the aforementioned regions. Currently, Lianlian Digital has established a dedicated team responsible for advancing stablecoin-related projects and conducting use case studies. On June 16, Yuta Logistics Technology announced that it is actively researching related regulatory details and plans to apply for a stablecoin issuance license after the Hong Kong stablecoin regulations take effect. The company plans to launch its own stablecoin “RHKD” and also plans to issue a digital token “RBTC,” which is pegged to Bitcoin as the underlying asset. Customers can exchange “RBTC” using Hong Kong dollars or US dollars. The company expects this token to be supported by 100% Bitcoin reserves (achieving a 1:1 Bitcoin exchange rate). On June 17, JD.com’s Chairman Liu Qiangdong stated that JD.com hopes to apply for stablecoin licenses in all major currency countries worldwide, and then achieve currency exchange between global enterprises through stablecoin licenses, reducing global cross-border payment costs by 90%, with efficiency improved to within 10 seconds. At the same time, JD.com expects to obtain the license in early Q4 of this year and launch the JD Stablecoin simultaneously. On June 18, the A-share listed company Yiwu Commodity City stated, “The company operates the world's largest small commodity trading market, naturally possessing massive and high-frequency cross-border trade settlement scenarios. Innovative payment tools like stablecoins have the potential to provide global customers, especially small and medium enterprises, with more efficient and low-cost cross-border payment solutions, aligning with our purpose of serving physical trade. We welcome and support Hong Kong's positive progress in the stablecoin regulatory framework, and the company’s cross-border payment platform ‘Yi Pay’ will continue to monitor relevant regulatory developments and will actively evaluate and submit relevant applications as soon as regulations are clarified and pathways are clear.” According to a report by Delphi Digital, the supply of stablecoins in the market has first exceeded $250 billion. Among them, yield-bearing stablecoins have grown rapidly, with Ethena reaching nearly $6 billion since its launch; Tether and Circle still dominate the market, accounting for a total of 86% of the circulating supply; the diversity of issuers has increased, with over 10 stablecoins having a circulating volume exceeding $100 million; over $120 billion in US Treasury bonds are locked in stablecoins, forming a liquidity pool outside the traditional market. These cases not only reflect the differences in strategic choices between the two regions but also deeply reveal two parallel development models in the global stablecoin race. A core question thus emerges: will a macro narrative driven by legislation or an industry-driven scenario penetration ultimately dominate this structural transformation concerning the future of digital financial infrastructure? Two paths: top-down mainstream compliance and bottom-up industry penetration The different development paths of stablecoins in the US and Hong Kong are rooted in their distinct market environments and the strategic starting points of the participants. Taking Circle and JD Coin Chain as examples, the former represents a top-down, enduring battle for mainstream compliance, while the latter represents a bottom-up, industry-driven breakthrough route. The path represented by the former, that of the US, is a mainstream conspiracy aimed at obtaining on-chain discourse power. Circle, as a “Crypto Native,” has always had a clear long-term strategic goal, which is to shake off the marginal label of the crypto world and enter the core of the traditional financial system. However, this process has not been smooth. Circle once focused on listing in the traditional financial market but was thwarted in 2022 due to significant uncertainty in the market environment and regulations, leading to the failure of its SPAC merger plan. This significant setback precisely confirms that in the US, without a clear policy framework, stablecoins are difficult to gain mainstream acceptance. The fundamental turning point lies in the clarification of the macro policy environment in the US, especially under the promotion of crypto-friendly policy directions and regulatory progress like the (GENIUS Act), which provided Circle with the right timing and location, paving the way for its eventual landing in the capital market. In stark contrast is the Hong Kong path represented by the latter, which is based on a new type of breakthrough at the B-end. JD Coin Chain Technology (Hong Kong) was registered in Hong Kong in March 2024. In July, the Hong Kong Monetary Authority announced the list of participants for stablecoin issuers' “sandbox,” which includes JD Coin Chain. According to information on its official website, JD.com will issue a cryptocurrency stablecoin pegged 1:1 to the Hong Kong dollar. The JD Stablecoin is a stablecoin based on a public chain and pegged 1:1 to the Hong Kong dollar (HKD), which will be issued on a public blockchain, with reserves consisting of highly liquid and credible assets, securely stored in independent accounts at licensed financial institutions, and subject to rigorous verification of reserve integrity through regular disclosures and audit reports. JD.com is not a newcomer to the payment field, but in the previous round of mobile payment battles surrounding the C-end, it failed to establish an independent payment ecosystem comparable to Alibaba and Tencent. Therefore, JD's entry into stablecoins is not a chase of an old battlefield, but a natural extension based on JD Group's advantages in technology and supply chain. It chooses to avoid the already red ocean of C-end retail payments and directly cut into the area of B-end cross-border trade and supply chain finance where it has structural advantages. The logical starting point of this path is not to seek comprehensive liberalization of top-level legislation but to utilize the custom space provided by Hong Kong as an international financial center and regulatory sandbox to solve specific business problems. Two approaches: new battlefield at B-end VS on-chain currency track Different starting points lead to two entirely different market approaches. In a recent interview, Liu Peng, CEO of JD Coin Chain Technology, stated that as of early June 2025, the company has primarily conducted tests for the Hong Kong dollar stablecoin and will later test other fiat stablecoins. Based on market demand, it is expected that both stablecoins will be issued simultaneously. Unlike the first phase, which mainly tested product functionality and technical details, the second phase focuses on testing the use of stablecoins in three practical scenarios: cross-border payments, investment transactions, and retail payments. In the cross-border payment scenario, JD Coin Chain plans to expand users through both direct customer acquisition and non-direct customer acquisition (e.g., in cooperation with compliant wholesalers). In the investment transaction scenario, it is currently negotiating cooperation with global compliant exchanges, aiming to launch JD Stablecoin in different regions. The retail aspect will first land in JD Global Sale Hong Kong...

According to Foresight News, an executive at the Spanish bank BBVA has suggested that wealthy clients allocate 7% of their investment portfolios to cryptocurrency. Philippe Meyer, head of digital and blockchain solutions at BBVA's Swiss branch, stated at the London DigiAssets conference that BBVA Private Banking recommends clients invest 3% to 7% of their portfolios in cryptocurrency based on their risk preferences.

According to PANews, the Iranian cryptocurrency exchange Nobitex was hacked, resulting in losses of $81.7 million, including permanently destroyed bitcoins. The pro-Israel hacker group Predatory Sparrow claims responsibility and vows to release Nobitex's source code and internal data within 24 hours, warning that remaining assets are still at risk.

According to a report by Deep Tide TechFlow, crypto analyst Ali posted an analysis on platform X stating that based on the MVRV pricing range, if Bitcoin recently falls below the support level of $102,044, it may retract to an average range of around $82,570.

According to a report by Deep Tide TechFlow, crypto analyst Ali posted an analysis on platform X stating that based on the MVRV pricing range, if Bitcoin recently falls below the support level of $102,044, it may retract to an average range of around $82,570.

According to BlockBeats, on June 13, information from Polymarket indicates that the probability of the U.S. military taking military action against Iran before July has risen to 31%.

According to PANews, the current market trend of Bitcoin has shown signs of fatigue after breaking through $110,000, and analysts predict that it may be about to enter the next bear market. Technical analysis shows that the current price fluctuations of Bitcoin are similar to those of the previous bear market, and the next round of market downside target price is expected to be $69,000. Some market experts said that Bitcoin's long-term growth momentum remains strong, especially with the support of demand from decentralized finance (DeFi) and other application areas, and it may break through the current market pressure in the future.

According to Foresight News, Robert Kiyosaki, the author of 'Rich Dad Poor Dad', tweeted that the value of Bitcoin, gold, and silver will continue to rise. He is buying more Bitcoin and expects it to reach $250,000 this year. He advises investors to buy more and not to sell.

According to Odaily Planet Daily, Strategy (formerly MicroStrategy) increased its holdings of 13,390 BTC at an average price of $99,856 between May 5 and May 11, with a total value of approximately $1.34 billion.

According to a report by Deep Tide TechFlow, on May 2, U.S. President Trump stated that gasoline prices have fallen below $1.98 per gallon, the lowest in years. Food prices are down, energy prices are down, mortgage rates are down, and employment is strong. Trump claimed that tariffs have brought in billions of dollars in revenue, and consumers have finally seen the price drop they have waited for years. There is no inflation, and the Federal Reserve should lower interest rates.