Crypto Morning News: U.S. weekly initial jobless claims lower than expected; Grayscale updates Q3 Top 20 list
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Crypto Morning News: U.S. weekly initial jobless claims lower than expected; Grayscale updates Q3 Top 20 list
China Renaissance announced an investment of $100 million to fully enter the digital currency field.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. Initial Jobless Claims for the Week Ending June 21: 236,000, vs. Expected 245,000
According to Jin10 News, initial jobless claims in the United States for the week ending June 21 came in at 236,000, down from the previous figure of 246,000 and below the expected 245,000.
Senator Lummis Hints That Crypto Market Structure Bill Will Be Released Before August Recess
As disclosed by Eleanor Terrett, U.S. Senator Cynthia Lummis recently announced that the Senate is drafting a market structure bill focused on cryptocurrency. The draft is expected to be released before Congress adjourns in August, with revisions planned for September.
U.S. Court Rejects Ripple and SEC Joint Motion
As reported by Eleanor Terrett, Judge Analisa Torres of the U.S. District Court for the Southern District of New York rejected on June 26, 2025, the joint motion filed by Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The motion requested the court to (1) lift the permanent injunction requiring Ripple to comply with securities laws, and (2) reduce the penalty against Ripple by more than half. This case originated from the SEC’s 2020 lawsuit alleging that Ripple violated Section 5 of the Securities Act of 1933 by offering unregistered XRP tokens. On July 13, 2023, the court ruled that Ripple had violated securities laws when selling XRP to institutional buyers.
Hong Kong Officially Releases "Digital Asset Development Policy Statement 2.0", Reaffirming Commitment to Becoming a Global Innovation Hub in Digital Assets
According to an announcement on the Hong Kong Special Administrative Region Government website, the Hong Kong government officially released the "Hong Kong Digital Asset Development Policy Statement 2.0" today, reaffirming its commitment to building Hong Kong into a global innovation center in the field of digital assets. The policy introduces the "LEAP" framework, focusing on four key areas: optimizing legal and regulatory frameworks, expanding the range of tokenized products, advancing use cases and cross-sector collaboration, and fostering talent and partnerships.
Financial Secretary Paul Chan stated, “Digital assets are a vital and highly promising component of fintech. Through blockchain technology, they enable more efficient and lower-cost financial transactions, making financial services more inclusive. The Policy Statement 2.0 demonstrates our vision for digital asset development and showcases practical applications of tokenization across diverse scenarios. By combining prudent regulation with encouragement of market innovation, we aim to build a thriving digital asset ecosystem integrated with the real economy and daily life, delivering broad economic and social benefits while reinforcing Hong Kong’s status as a leading international financial center.”
Republic Plans to Tokenize Shares of Private Companies Like SpaceX, OpenAI, and Anthropic
According to The Block citing The Wall Street Journal, Republic plans to offer blockchain-based digital assets that track the performance of shares in private companies such as SpaceX, aiming to improve retail investor access.
Republic will acquire stakes in SpaceX and issue blockchain-based equivalents, while also planning to launch digital tokens tracking AI firms like OpenAI and Anthropic. While holders will not be considered shareholders, they will gain investment opportunities.
Hazeflow Founder: Polychain Profited Over 4x by Selling Celestia Staking Rewards
As disclosed by Hazeflow founder Pavel Paramonov, Polychain invested approximately $20 million in Celestia and generated over $80 million worth of tokens by selling Celestia staking rewards—achieving returns exceeding 4x. Celestia has since declined 92.2% from its all-time high.
YZi Labs Announces Investment in Decentralized Entertainment Platform MEET48
According to official news, YZi Labs has invested in MEET48—a decentralized entertainment platform from BNB Chain’s MVB (Most Valuable Builder) accelerator—aiming to address fan engagement challenges through token-driven solutions.
This funding round will accelerate MEET48’s growth and further enrich its Web3 fan experience via virtual performances, idol-training games, and real-world events.
Market data shows that following the announcement of YZi Labs’ investment in MEET48, the IDOL token surged over 20% briefly, reaching a high of $0.018.
Grayscale Updates Q3 Top 20 List, Adds AVAX and MORPHO, Removes LDO and OP
Per an official announcement, Grayscale Research has updated its Top 20 assets list for Q3 2025. This quarter, Avalanche (AVAX) and Morpho (MORPHO) were added due to rising on-chain transaction activity and strong growth in decentralized lending, respectively. Lido DAO (LDO) and Optimism (OP) were removed amid competitive pressures from centralized staking services and uncertainties around token revenue distribution.
Movement Buyback Address Withdraws 83 Million MOVE from Binance, Buyback Progress at ~54.2%
As monitored by on-chain analyst Ai Auntie (@ai_9684xtpa), the Movement buyback address withdrew 83 million MOVE tokens from Binance over the past nine hours. Movement (@movementlabsxyz) previously committed to using $38 million for token buybacks, with yesterday marking the final day of the three-month window. Based on the withdrawal price, the current buyback progress is approximately 54.2%.
SOL Strategies Announces Strategic Ecosystem Reserve (SER) Initiative, First Acquisition of 52,181 JTO
SOL Strategies (CSE: HODL | OTCQB: CYFRF) today announced the launch of its Strategic Ecosystem Reserve (SER) program, acquiring 52,181 JTO tokens as its first investment. As a core infrastructure builder deeply embedded in Solana, the company will invest in foundational projects driving ecosystem growth, with a particular focus on Jito Network’s MEV infrastructure, which is critical to Solana’s performance and validator economics. The reserve is funded by a portion of validator revenues, enabling SOL Strategies to strategically support key infrastructure while preserving its core SOL holdings.
China Renaissance Capital Announces $100 Million Commitment to Fully Enter Digital Currency Sector
China Renaissance Capital (Stock Code: 1911) issued an announcement today (June 26), appointing Mr. Frank Fu Kan and Ms. Chen Jiali as independent non-executive directors. The board has approved a plan to allocate $100 million over the next two years to develop Web3.0 businesses and invest in digital currency assets. The company will focus on stablecoins, RWAs (Real World Assets), and the full digital asset ecosystem chain, actively applying for relevant business licenses. This marks a key step in China Renaissance’s “2.0 era” strategy, aiming to create the company’s “second growth curve” and position traditional finance as a core force in global Web3 investment.
Market Update
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Solana Trench: June Updates – Pumpfun ICO, Trading Software Wars, and Launchpad Competition
This article analyzes the latest developments in Solana’s meme coin market, including Pumpfun’s token ICO, shifts in trading terminal market share, and competition among launchpad platforms. It also provides insights into market trends, user behavior patterns, and activity metrics across Solana’s ecosystem.
New Protocols Galore: 7 Tools to Help You Find Hidden Gems
This article explores methods and tools for identifying promising projects in today’s crypto market, especially amid an oversupply of new protocols and limited innovation. It presents seven key tools and evaluation dimensions to help users spot the next Aave-level opportunity through on-chain data and mindshare analysis, along with practical examples and guides.
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