Crypto Morning Brief: Bitcoin rebounds above $105,000; OKX considering U.S. IPO
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Crypto Morning Brief: Bitcoin rebounds above $105,000; OKX considering U.S. IPO
Strategy increases Bitcoin holdings by 245, bringing total to 592,345 BTC.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Iranian Foreign Minister: No ceasefire or halt to military operations agreement reached between Israel and Iran so far
According to Jin10 News, the Iranian foreign minister stated that no agreement has been reached between Israel and Iran regarding a ceasefire or halting military operations. However, if the Israeli regime stops its illegal aggression against the Iranian people before 4 a.m. today, Iran will not proceed with further responses. The final decision on halting our military actions will be made later.
Fed Governor Bowman hints at potential rate cut in July
According to Jin10 News, Federal Reserve Governor Michelle Bowman said, "If inflation pressures are contained, I would support lowering the policy rate as soon as the next meeting to bring it closer to neutral levels and maintain a healthy labor market." Bowman had previously expressed strong concerns about inflation risks. She noted that due to expected increases in economic slack this year, price hikes from tariffs would likely be "small and one-off." She described the labor market as solid and near full employment. However, she also cited signs of vulnerability, including weakening labor market dynamism, slowing economic growth, and narrowly concentrated job gains, suggesting the Fed should "place greater emphasis on downside risks to the employment mandate" in future decisions. This is Bowman’s first substantive commentary on the economic outlook since being nominated by Trump and confirmed by the Senate earlier this spring as Vice Chair for Supervision at the Fed.
Yu Lik-wai: Hong Kong sets relatively strict standards for stablecoin issuers; only a few licenses expected in first phase
According to Jin10 News, Hong Kong's Stablecoin Ordinance will take effect on August 1. HKMA Chief Executive Yu Lik-wai said Hong Kong has established relatively stringent standards for stablecoin issuers, with high entry barriers nearly equivalent to those for e-wallets and banks. Only a small number of licenses are expected to be issued in the initial phase. Licensed stablecoins will have specific designated uses, such as cross-border trade. Yu emphasized that the HKMA has very strict risk management requirements—covering reserve asset management, stabilization mechanisms, redemption policies, and most importantly, anti-money laundering regulations—comparable to those applied to e-wallets and banks. Given the payment nature of stablecoins, the Stablecoin Ordinance provides a comprehensive regulatory framework for issuers, ensuring consistent regulation for similar risks and promoting healthy, sustainable industry development.
Market news: Grayscale Space and Time (SXT) Trust registered in Delaware
According to market news, the Grayscale Space and Time (SXT) Trust has been registered in Delaware.
The Information journalist: OKX considering U.S. IPO
According to The Information's crypto reporter Yueqi Yang, cryptocurrency exchange OKX, after re-entering the U.S. market in April this year, is now considering an initial public offering (IPO) in the United States.
L1 blockchain Mango Network announces tokenomics: total supply 10 billion, testnet airdrop 5%
According to official announcement, Mango Network, a Move-based Layer 1 blockchain, has released its MGO tokenomics with a total supply of 10 billion tokens. The distribution is as follows:
20% allocated to POS staking pool;
20% allocated to foundation;
17% allocated to ecosystem innovation fund;
15% allocated to team and early contributors;
5% allocated to testnet airdrop;
15% allocated to investors;
5% allocated to mainnet airdrop;
3% allocated to advisors.
Mango Network is a Layer 1 blockchain serving as a multi-VM universal infrastructure designed to solve multiple pain points in Web3 applications and DeFi protocols, such as fragmented user experience and liquidity fragmentation. By integrating core advantages of OPStack technology and MoveVM, it builds an efficient blockchain network supporting cross-chain communication and multi-virtual machine interoperability, delivering secure, modular, and high-performance Web3 infrastructure for developers and users.
Strategy adds another 245 bitcoins, total holdings reach 592,345
Michael Saylor announced that his company Strategy has purchased 245 bitcoins at approximately $105,856 per bitcoin, totaling around $26 million. As of June 22, 2025, Strategy holds a cumulative total of 592,345 bitcoins, representing a total investment of $41.87 billion with an average cost of $70,681 per bitcoin. The company's Bitcoin return since the beginning of 2025 has reached 19.2%.
Eyenovia announces completion of $50 million private placement and purchase of over 1 million HYPE tokens
According to an official announcement, Eyenovia, Inc. (Nasdaq: EYEN) today announced the successful completion of its previously disclosed $50 million private placement and the acquisition of 1,040,584.5 HYPE tokens at an average price of approximately $34, becoming the first Nasdaq-listed company to operate a validator node on the Hyperliquid blockchain.
CEO Michael Rowe stated that this financing marks the first step in implementing the company’s cryptocurrency reserve strategy, while the company remains focused on completing FDA registration development for its Optejet User-Filled Device (UFD), expected to be submitted in September 2025.
Chief Investment Officer Hyunsu Jung said the successful acquisition of initial HYPE tokens paves the way for deeper engagement within the Hyperliquid ecosystem.
Eyenovia plans to change its name to "Hyperion DeFi" and its stock ticker to "HYPD" upon board approval, continuing to advance ophthalmic innovation while providing shareholders access to a high-growth blockchain ecosystem.
Data: Public companies added 12,400 BTC last week, miners produced only 3,150 BTC
According to The Bitcoin Historian, publicly listed companies collectively acquired 12,400 bitcoins last week, while mining output during the same period was only 3,150 bitcoins.
Market Data
Suggested Reading
Forking Solana, Meme Coin Gorbagana Pulls Off the Prank in Just 48 Hours
This article discusses how, amid a sluggish crypto market, a meme coin named Gorbagana rapidly rose to prominence driven by the Solana community. The idea for Gorbagana originated from casual social media conversation between Solana co-founder Anatoly Yakovenko and netizens. Within just 48 hours, Gorbagana evolved from a joke into a fully functional testnet, technically forking Solana. The project demonstrates the community’s collaborative spirit and technical capability, successfully launching a highly entertaining initiative without traditional marketing or planning.
This is an in-depth interview with CoinW’s Strategic Partnerships Director Monika, exploring how she builds trust bridges in the blockchain industry, unlocks CoinW’s community-first strategy, and cultivates its entrepreneurial culture. The article details Monika’s professional background, her role at CoinW, core philosophies behind community building, and how CoinW’s global and localized strategies contribute to rapid growth.
What Are 'Crypto Stocks' Speculating On?
This article reviews popular crypto-related stocks in the U.S. market and their latest developments, including strategic shifts and market performance of Circle, Coinbase, and MicroStrategy. It analyzes trends in the stablecoin sector, Bitcoin reserve strategies, and the impact of other digital assets on traditional enterprises.
Business Saturation, Revenue Pressure: CEXs Rush to Capture the Future On-Chain
This article discusses how centralized exchanges (CEXs), facing business saturation and revenue pressure, are actively expanding into on-chain ecosystems to adapt to changing markets. Major platforms like Binance, Coinbase, OKX, and Bybit are employing various strategies and innovations to position themselves advantageously in the convergence of CeFi and DeFi.
From Crypto Quant Whale to Infrastructure Hermit: Jump Crypto’s “Redemptive” Transformation
This article traces the journey of Jump Crypto—from a high-frequency trading giant to a more low-profile entity after a series of controversies. Now, it has announced a transformation into a “crypto infrastructure builder,” even participating for the first time in lobbying efforts for U.S. crypto policy, aiming to rebuild market trust through technological innovation and policy collaboration. Previously entangled in crises such as the UST manipulation allegations, FTX collapse, and Wormhole hack, Jump is now reactivating amid clearer U.S. regulatory conditions, resuming investments and planning to expand its U.S. operations.
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