Headlines
▌Circle Has Removed All US Treasuries From Its USDC-Backed Reserve
Stablecoin issuer Circle Internet Financial has removed all US Treasuries from its USDC-backed reserves as part of a precautionary measure against the possible fallout from the looming US debt ceiling showdown.
Policies
▌EU Officially Signs MiCA Regulation into Law
The European Union formally signed off on Wednesday its landmark Marketplace in Cryptoassets (MiCA) regulation, signed by European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, along with a separate anti-money laundering law requiring crypto providers to trade in to verify the identity of its customers when transferring funds. The MiCA will enter into force within a few weeks of its publication in the Official Journal of the European Union in June. Its terms, which provide cryptocurrency exchanges and wallet providers with licenses to operate within the 27-country bloc and require stablecoin issuers to hold appropriate reserves, will come into effect in 12 to 18 months.
Blockchain Application
▌Tencent Cloud and Chainlink Labs Form a Partnership
Tencent Cloud has established a partnership with Chainlink Labs. Tencent Cloud provides Web3 developers with tools such as cloud virtual machines and Elastic Kubernetes Service. In the future, these solutions can be used in conjunction with Chainlink Web3 services and provide access to off-chain data and computing. In addition, through this partnership, the Chainlink BUILD project will receive a Tencent Cloud service voucher worth US$10,000, priority listing of products and services in the Tencent Cloud international market, and early invitations to join the Tencent Cloud Web3 network, webinars, and events.
Cryptocurrency
▌Encrypted trading company Cumberland stopped Filecoin trading on the grounds of "regulatory environment"
Crypto trading firm Cumberland said in an alert sent to clients on Tuesday that it will stop trading tokens used by decentralised storage platform Filecoin with over-the-counter counterparties. The measure came into effect at 4:00 p.m. UTC on June 1. The firm attributed the decision to halt over-the-counter trading of cryptocurrencies to precautionary measures taken by the “regulatory environment.” It did not immediately respond to a request for further comment.
▌Encryption Exchange BitMart Launches BitMart Hong Kong Trading Platform
According to the official announcement, the virtual asset trading platform BitMart will officially launch the BitMart Hong Kong trading platform, which will provide virtual currency trading services for Hong Kong institutional investors and retail investors. Currently, BitMart Hong Kong supports spot trading of virtual assets such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). The entire platform supports English, Simplified Chinese, and Traditional Chinese respectively.
Presidential hopeful Donald Trump recently promoted limited edition Bitcoin-themed sneakers called the "Crypto President High Tops". This release is part of Trump's strategy to appeal to a diverse voter base, including the sneakerhead community.
KikyoAlex Svanevik, CEO of Nansen, launched a Solana memecoin named IQ, which soared to a $6 million market cap before falling to around $1 million. The ease of creating memecoins through platforms like MakeNowMeme and Pump.Fun has led to many scams, emphasising the need for cautious investment.
AnaisChakra, a Bitcoin restaking protocol based on ZK proofs, has teamed up with Binance Web3 Wallet to bring you a Bitcoin pre-staking campaign for Babylon’s Mainnet launch with pre-staking ending on 7 August.
CatherineBinance Labs has invested in Particle Network, a Layer-1 blockchain platform aimed at unifying the fragmented Web3 landscape. With features like universal accounts and liquidity, Particle Network simplifies blockchain interactions, enhancing accessibility and user experience.
WeatherlyNotcoin has launched a new story-driven Telegram game called “Lost Dogs” that will last for 6 weeks. Players vote daily on decisions that shape the story, earn both NOT tokens and the in-game currency, WOOF. So what is your choice?
KikyoCircle’s EURC stablecoin is now live on Base, an Ethereum Layer 2 network, offering faster and cheaper euro transactions. With support from major industry players and a proven track record of USDC’s success on Base, EURC is set to enhance liquidity and global financial accessibility.
AnaisBlockless, an infrastructure platform for launching, integrating, and securing nnApps, is in phase 2 of its incentivised testnet — The Orchestrator. However, with it missing, you will have to manage everything yourself. How do you win in this phase of the testnet?
CatherineDotcoin, initially launched on the TON blockchain, is migrating to Venom to benefit from its advanced scalability and infrastructure. The move, which includes launching the $DTC token on Venom, aims to support Dotcoin's growth but faces challenges with community backlash and technical issues. Will this transition ultimately strengthen Dotcoin's position or lead to further complications?
AnaisNeiro transferred 17.1 billion $Neiro to Vitalik's address to boost its credibility. However, the plan backfired when Vitalik sold his holdings for 44.5 ETH, causing the price to plummet 60% and triggering panic among investors. Is this karma or coincidence?
KikyoFutu has expanded its trading services to Hong Kong and Singapore, becoming the first online brokerage in both regions to offer direct cryptocurrency trading to retail investors. This expansion enhances Futu’s competitive position and reflects a broader trend of integrating digital currencies into traditional financial platforms.
Weatherly