Crypto Morning Brief: Fed holds rates steady, Circle stock hits new highs
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Crypto Morning Brief: Fed holds rates steady, Circle stock hits new highs
Hong Kong SFC updates licensed virtual asset trading platform list, BGE becomes the 11th licensed platform.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Market Updates Yesterday
U.S. initial jobless claims for the week ending June 14 came in at 245,000, meeting expectations
According to Jinshi News, U.S. initial jobless claims for the week ending June 14 were recorded at 245,000, matching expectations. The prior figure was revised upward from 248,000 to 250,000.
Fed holds benchmark interest rate steady at 4.25%-4.50%
According to Jinshi News, the Federal Reserve decided to keep the benchmark interest rate unchanged at 4.25%-4.50%, marking the fourth consecutive meeting with no change, in line with market expectations. The Fed's dot plot indicates two rate cuts are expected in 2025 (same as March's projection).
The dot plot shows that among 19 officials, 7 believe there will be no rate cut in 2025 (up from 4 in March), 2 believe in a cumulative 25-basis-point cut (i.e., one cut) (down from 4 in March), 8 believe in a cumulative 50-basis-point cut (i.e., two cuts) (down from 9 in March), and 2 believe in a cumulative 75-basis-point cut (i.e., three cuts) (unchanged from March).
Central Financial Commission: Support financial institutions in leveraging technologies like blockchain to develop supply chain finance
Citing Xinhua News Agency, Jinshi News reported that the Central Financial Commission has issued the "Opinions on Supporting the Accelerated Construction of Shanghai International Financial Center." The document calls for strengthening unified financing credit service platforms, supporting financial institutions to use blockchain and other technological means to develop supply chain finance, supporting the development of multi-tiered and multi-pillar pension insurance systems, high-quality construction of a global fintech hub, and promoting financial support for higher-quality integrated development of the Yangtze River Delta region.
Hong Kong SFC updates licensed virtual asset trading platform list; BGE becomes the 11th licensed platform
According to official information from the Hong Kong Securities and Futures Commission (SFC), Hong Kong BGE Limited (BGE) has obtained a virtual asset trading platform license from the SFC. So far, a total of 11 trading platforms have received licenses in Hong Kong, with 9 additional platforms currently in the application pipeline.
CEO of JD Blockchain: JD’s Hong Kong-Macao site will support stablecoin payments
Liu Peng, CEO of JD Blockchain Technology, recently revealed in an exclusive interview with Bloomberg Businessweek/Chinese Edition that JD’s self-operated e-commerce platform for Hong Kong and Macao will soon support stablecoin payments. JD Blockchain plans to launch its own HKD-pegged and other currency-pegged stablecoins by early Q4 2025, when it expects to receive its license. The company is currently testing within the Hong Kong Monetary Authority’s stablecoin issuer sandbox, focusing on applications in cross-border payments, investment transactions, and retail payments. Liu stated that stablecoins represent new financial infrastructure for the Web3 era, offering advantages such as reducing transfer times from days to seconds and cutting transaction costs by at least half compared to traditional methods, potentially playing a “disruptive” role in international trade and other scenarios.
Circle surges past $200, up 6.12% in 24 hours, hitting another all-time high
CRCL, the first U.S.-listed stock of a stablecoin issuer (Circle), broke above $200, reaching $211.80 in after-hours trading, up 6.12% over the past 24 hours and setting a new record high.
Tether mints 1 billion USDT on Ethereum blockchain
According to Whale Alert monitoring, Tether Treasury minted 1 billion USDT on the Ethereum network, worth approximately $1.001 billion.
Crypto broker FalconX may consider IPO this year
According to Decrypt, cryptocurrency prime broker FalconX is holding early discussions about filing for an initial public offering (IPO) as early as this year. Three sources familiar with the matter said the company has held informal consultations with bankers and advisors regarding the listing process but has not yet formally hired an investment bank. FalconX was last valued at $8 billion. The move aims to meet growing institutional investor demand for digital assets and raise capital for strategic partnerships and acquisitions.
Sonic launches second-season airdrop campaign
Sonic Labs CN announced today the official launch of its second-season airdrop campaign. Users can participate by posting designated images with the hashtag #Sonic and stand a chance to win rewards.
Hacker group Gonjeshke Darande threatens to leak internal data of Iranian exchange Nobitex
The hacker group Gonjeshke Darande (Persian for "Ferocious Sparrow") announced it has launched a cyberattack on Iranian cryptocurrency exchange Nobitex and warned it would publicly release the exchange’s source code and internal network information within 24 hours.
The group accused Nobitex of being a core tool used by the Iranian regime to circumvent international sanctions and fund terrorist activities, even providing public guidance on how users could leverage its infrastructure to bypass sanctions. The hackers also claimed that working at Nobitex is considered valid military service by the Iranian government, underscoring the exchange’s strategic importance to the regime.
Prior to this, the group had targeted Bank Sepah, affiliated with Iran’s Revolutionary Guard Corps. The hackers warned Nobitex users to withdraw their assets immediately, stating, “Any assets remaining on the platform beyond this point will be at risk.”
Earlier reports indicated that the Iranian crypto exchange Nobitex was suspected of being hacked, suffering losses amounting to $48.65 million.
Yiwu Market says it will submit license application once Hong Kong stablecoin regulations are clarified
According to Jinshi News, in response to whether it plans to apply for a Hong Kong stablecoin license, Yiwu Market stated on the interactive platform on the 18th that the company operates the world’s largest small commodities trading market, which naturally involves massive, high-frequency cross-border trade settlements. Innovative payment tools like stablecoins hold the potential to provide global traders, especially SMEs, with more efficient and lower-cost cross-border payment solutions—aligning with the company’s mission of serving real-world trade. The company welcomes and supports Hong Kong’s proactive progress in establishing a stablecoin regulatory framework. Its cross-border payment platform “YiPay” (YiwuPay) will continue monitoring regulatory developments and will actively evaluate and promptly submit relevant applications once regulations are clear and pathways are open.
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