Crypto Morning News: Ant Group plans to apply for stablecoin licenses in Hong Kong and Singapore; Backpack launches WCT airdrop claim event
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Crypto Morning News: Ant Group plans to apply for stablecoin licenses in Hong Kong and Singapore; Backpack launches WCT airdrop claim event
Singapore's regulatory authority urges unlicensed cryptocurrency trading platforms to swiftly exit operations in the country.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. Initial Jobless Claims for the Week Ending June 7: 248,000
According to Jin10 News, initial jobless claims in the U.S. for the week ending June 7 reached 248,000, higher than the expected 240,000 and up slightly from the previous week’s revised figure of 247,000.
Former U.S. President Trump Recommends Fed Cut Rates by 200 Basis Points
According to Jin10 News, former U.S. President Donald Trump has recommended that the Federal Reserve cut interest rates by 200 basis points.
Singapore Regulator Urges Unlicensed Crypto Exchanges to Exit Operations Quickly
According to Bloomberg, citing sources familiar with the matter, Singapore’s financial regulator has issued a final warning urging major cryptocurrency trading platforms operating in the country without a local license to swiftly exit their operations.
Backpack Launches WCT Airdrop Claim Event for Badge Holders
Backpack has launched a WCT airdrop claim event for badge holders. The event runs from 08:00 on June 12, 2025, to 08:00 on June 18, 2025, Beijing time. During this period, users with Challenger, Diamond, or Platinum-level badges can connect their Backpack wallet (browser extension or mobile app) to their Backpack exchange account to claim the airdrop. Additionally, over 500 users from other tiers will be randomly selected to receive eligibility.
Previously, Backpack distributed badge airdrops based on participation in its first-season points campaign as a thank-you to loyal users. This WCT airdrop marks the second distribution for badge holders.
Notably, Backpack has not yet announced details of its next season’s points campaign. Currently, the “Season Side Story: Month of Benefits” is ongoing, with the first module—Daily Trading Competition—already live, offering participants a share of daily prize pools through trading activity.
OpenSea Announces Full Shutdown of OS1 on June 16; OS2 Update to Remove "Deals" and Other Features
According to Blockworks, OpenSea announced it will fully shut down its OS1 version on June 16. The new OS2 platform will discontinue several features, including Deals (customized transactions), English auctions, testnet support, and shopping cart functionality. OpenSea stated that Deals and English auctions were removed due to low usage.
The decision has sparked controversy within the community, with many users expressing concerns that removing the Deals feature could increase transaction risks. Adam Hollander, OpenSea’s Chief Marketing Officer, explained that the feature was incompatible with ERC-721-C contracts enforcing mandatory royalties, leading to inconsistent user experiences.
Binance Wallet to Host Exclusive SGC TGE on June 13
According to an official announcement, Binance Wallet will host an exclusive Token Generation Event (TGE) for SGC from 4:00 PM to 6:00 PM (UTC+8) on June 13, 2025.
Participation Requirement: Eligible users must use Binance Alpha Points to subscribe.
An additional 300,000,000 SGC tokens will be reserved for future campaigns, with further details to be announced later.
Bloomberg: Ant Group Plans to Apply for Stablecoin Licenses in Hong Kong and Singapore
According to Bloomberg, Ant Group’s international division is planning to apply for stablecoin licenses in Hong Kong and Singapore.
Tether Acquires Nearly 32% Stake in Gold Royalty Company Elemental Altus
According to an official announcement, Tether Investments revealed on June 12, 2025, that it has acquired approximately 31.9% of Canadian gold royalty company Elemental Altus, totaling 78,421,780 common shares. Tether also signed an option agreement granting it the right to purchase an additional 34,444,580 shares after October 29, 2025.
Tether CEO Paolo Ardoino stated that this investment represents a key step in advancing the company’s strategy to build financial infrastructure backed by hard assets such as gold and Bitcoin, aiming to create a more resilient and transparent financial system. Tether Group reportedly already holds over 100,000 Bitcoins and nearly 80 tons of physical gold, and issues Tether Gold (XAUT), a token backed by physical gold.
Trident Announces $500 Million Financing Plan for XRP Vault, Appoints New Strategic Advisor
According to StreetInsider, Singapore-based technology optimization services company Trident (Nasdaq: TDTH) announced a financing plan of up to $500 million to establish an XRP reserve, and has appointed Chaince Securities LLC as its strategic advisor.
DeFi Development Corp. Secures $5 Billion Equity Shelf Facility
According to an official announcement, DeFi Development Corp. (Nasdaq: $DFDV) today announced it has secured a $5 billion equity shelf facility. This facility enables the company to raise capital flexibly at optimal times, accelerating its accumulation of $SOL tokens and enhancing Shareholder Value per SOL (SPS). Unlike traditional equity offerings, this shelf allows the company to avoid price lock-ins during volatile markets while increasing validator yields and long-term shareholder value. The company emphasized its core objective remains maximizing SPS (Shareholder Value per SOL).
Market Data
Suggested Reading
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Recent Popular AI Projects with Upcoming TGEs: I.R.I.S / IDOL / Sahara AI Mira / Allora
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a16z: 11 Use Cases for the Convergence of Crypto and AI
This article examines 11 technical applications where artificial intelligence (AI) converges with blockchain (Crypto), analyzing potential shifts in technological frameworks and ecosystems—from data permanence management to decentralized identity verification. These scenarios cover intersection points across domains such as decentralized infrastructure, identity systems, and micropayments, showcasing both the promise and challenges of future tech evolution.
Pump.fun Valued at $4B in ICO—Is It Worth It?
This article analyzes Pump.fun’s $4 billion ICO valuation, assessing its competitiveness, user appeal, and growth potential within the memecoin sector. It evaluates fair valuation ranges and future upside, suggesting that Pump.fun may be undervalued despite its high price tag. The article also discusses organic trends in the memecoin market and Pump.fun’s sustained momentum.
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