Binance CEO Richard Teng expressed his condolences following a tragic plane crash in Ahmedabad, India."Deeply saddened by the tragic plane crash in Ahmedabad. My heartfelt condolences to the families of the victims and all those affected," Teng wrote on Binance Square. "Our thoughts are with the people of India during this difficult time."The cause of the crash is under investigation. Authorities have yet to confirm the number of casualties.

Key Takeaways:Tentative U.S.–China trade progress supports market sentiment, but tech export tensions persist.Middle East tensions rise; oil spikes 7–9% as investors rotate into defensive assets.Trump pressures Fed for 100 bps rate cut; CPI data comes in below expectations.QCP Capital says conditions remain favorable for institutional capital in digital assets.June 12, 2025 – In its latest market commentary, QCP Capital says the macroeconomic backdrop remains supportive for institutional crypto adoption and capital allocation, even as geopolitical and trade risks intensify.The firm notes that markets welcomed signs of progress in U.S.–China trade talks, with President Trump announcing a partial rollback of planned tariffs. However, optimism remains tempered by ongoing tech export restrictions, including a firm stance by the U.S. Commerce Secretary that advanced chips will not be provided to China—a signal of continued global supply chain bifurcation.Meanwhile, geopolitical tensions in the Middle East escalated. The U.S. began withdrawing diplomats amid stalled nuclear negotiations, following Israeli warnings of potential strikes on Iran. Brent crude oil surged 7–9% intraday, triggering a risk-off rotation into defensive assets.Adding to macro uncertainty, market speculation briefly surfaced around Bessant potentially replacing Fed Chair Jerome Powell, though Bessant reaffirmed his commitment to remain at the Treasury until 2029. Separately, Trump called for a 100 basis point rate cut after CPI data showed softer-than-expected inflation, arguing that high debt costs are unsustainable.Despite these pressures, QCP Capital maintains a bullish stance on institutional crypto involvement, pointing to strong underlying macro tailwinds and continued appetite for digital asset exposure.

OKX market data shows that BTC fell below 107,000 USDT and is now at 106,999.9 USDT, a 24-hour drop of 2.02%. (This newsletter is generated with the assistance of AI)

Odaily Planet Daily News: Sandeep, founder of Polygon and CEO of Polygon Foundation, said in a post on the X platform: When deciding to shut down the zkEVM chain, it was noted that it would affect other Agglayer CDK chains, such as: 1. All Agglayer chains built on Agglayer CDK are separated from zkEVM at the stack level. CDK originally used the zkEVM code base, but after a lot of optimization, it was converted into a stack that can be used to start other chains. Polygon is currently adding more stacks to Agglayer CDK; 2. Polygon will continue to promote CDK-Erigon and CDK-OpGeth, which have achieved a throughput of up to 7000 TPS and a block time of 250 milliseconds, and will launch more features later. Finally, for zkEVM, it makes no sense to invest Polygon resources in general chains. There are already too many general chains, so the best resources should be concentrated on an existing and more scalable blockchain.

Odaily Planet Daily News Mechanism Capital partner Andrew Kang posted on the X platform that companies adopting ETH treasury strategies may develop in the same way as Ethereum exchange-traded funds (ETH ETFs), with demand expectations far higher than reality, and most net asset values ​​are expected to be significantly discounted by next year. Andrew Kang also forwarded his Ethereum ETF impact analysis published in June 2024, which pointed out that unless Ethereum develops a convincing path to improve its economic conditions, it will be difficult to be bullish.

Odaily Planet Daily News Crypto wallet provider Privy responded to the acquisition by payment giant Stripe and said that Privy will continue to operate as an independent product, with more than 75 million accounts to date. In addition, this acquisition will not affect the continued support for developers built on Crypto Rails.

Odaily Planet Daily News: Mike McGlone, senior commodity strategist at Bloomberg, wrote on the X platform that a "key test" seems to be approaching whether Bitcoin will continue to rise. In early June, the annual volatility of Bitcoin against gold hit a new low, indicating that the market has matured, but it may also mean that the best appreciation cycle of cryptocurrencies is coming to an end.

Odaily Planet Daily News: Bitcoin Depot, a Bitcoin ATM and financial technology company listed on the Nasdaq, announced the acquisition of the assets of Bitcoin ATM operator Pelicoin, including the company's self-service terminals in Louisiana, Mississippi, Tennessee, Alabama and Texas in the United States. The specific acquisition amount has not been disclosed. It is reported that Pelicoin's ATM network will be fully integrated into the Bitcoin Depot platform in the next few weeks, and all equipment will be transitioned to the Bitcoin Depot brand. (Globenewswire)

1. Ministry of Foreign Affairs: We hope that the United States will work with China to implement the important consensus reached by the two heads of state during their phone call and give full play to the role of the China-US economic and trade consultation mechanism; 2. Ant Group will apply for stablecoin licenses in Hong Kong and Singapore; 3. Binance Alpha has launched PUNDI AI (PUNDIAI), and at least 237 Alpha points can be used to apply for airdrops; 4. A whale deposited 10 million USDC into HyperLiquid and opened a 10x leveraged ETH long order with a liquidation price of US$2,201; 5. Previously, the giant whale who recharged 10 million USDC to HyperLiquid to go long on ETH closed his position and bought 1,000 HYPE; 6. Tether CEO: Bitcoin is a "mathematical currency"; 7. Ant International responded to the application for a stablecoin license in Hong Kong: Submit as soon as possible after the relevant channels are opened; 8. Former Bank of Japan member Takako Masai: Trump's tariffs have stopped the Bank of Japan's interest rate hike cycle; 9. Trump will issue key parts of the US-UK trade agreement in a few days; 10. CryptoQuant: Stablecoin market value hits record high of $228 billion; 11. Upbit adds BingX as account verification service support exchange; 12. Binance Wallet exclusive TGE will launch SGC on June 13; 13. The Hong Kong Securities and Futures Commission recommends further restrictions on the use of misleading names to strengthen investor protection; 14. Bloomberg: Tencent plans to acquire Nexon, the developer of "DNF" and "MapleStory".

Ant International plans to secure stablecoin licenses in Singapore and Hong Kong, signaling a bold move into blockchain finance. source: https://coinpaprika.com/news/jack-ma-s-ant-international-sets-sights-on-stablecoin-licenses-in-asia

Affected by this, Hong Kong stocks of Ant concept stocks collectively rose in the afternoon, among which Yunfeng Financial rose by more than 98% at one point, Yaocai Securities Finance rose by more than 14%, and Ali Health and Ali Pictures rose by more than 4%.

Shadow investing = supporting a competitor after missing out on an industry leader, usually to maintain exposure rather than based on a belief in differentiation.

In the global chess game of the encryption industry, the three cities are competing for industry discourse power and talent resources in different ways.

Binance has reopened its crypto services to users in Syria after the US lifted sanctions in May 2025. Syrians can now trade, send money, and access crypto tools using their local currency.

Two US senators have questioned Meta over possible stablecoin plans, asking for clear answers on its intentions. They raised concerns about privacy, competition, and Meta’s past failed attempt with Libra.

Retailers are increasingly in the crosshairs of cybercriminals—and not just during peak shopping seasons. With outdated access controls and vulnerable networks, many in the sector are finding themselves exposed to a rising wave of sophisticated attacks.

What are some of the most shocking crimes that North Korean hackers have committed? How much cryptocurrency have they stolen? Why is North Korea so good at hacking? Where does all the money go?

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Ant Group plans to apply for stablecoin licences in Hong Kong, Singapore, and Luxembourg as part of its global expansion. Its Whale platform already powers over $1 trillion in cross-border payments, and the company aims to support faster, regulated crypto transactions for businesses.

ASIC has banned Glenda Rogan for ten years after she allegedly misused $9.6 million in client funds, directing them to "Financial Centre," a UK platform on ASIC’s blacklist. Clients were misled to believe their money was going into safe, fixed-interest accounts, but it was instead funnelled into a risky crypto scheme.