Daily Report | Hong Kong's "Stablecoin Regulation" will take effect on August 1, 2025; users with a Binance Alpha score of 223 can claim 88 FLY airdrops
June 6 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- Users with Binance Alpha points reaching 223 can claim 88 FLY airdrop
- OKX announces delisting of multiple leveraged trading pairs and adjusts token discount rates
- Coin Bureau co-founder: Circle's IPO funding amount is only Tether's quarterly operating profit
- ARK Invest purchases $373 million worth of Circle stock on the first trading day
- Salus founder: Chinese law enforcement has solved 3 cases of money laundering using HyperLiquid, with strategies highly similar to James Wynn's operations
- Binance is about to launch Skate (SKATE) trading and perpetual contracts
- WLFI advisor responds to shorting TRUMP: The two project entities are independent, and hedging is indeed necessary in uncertain times
- Hong Kong's "Stablecoin Regulation" will take effect on August 1, 2025
"What important events happened in the past 24 hours"
Users with Binance Alpha points reaching 223 can claim 88 FLY airdrop
According to official news, Binance is the first platform to launch fly.trade (FLY), with trading starting on June 6, 2025, at 21:00 (UTC+8).
Eligible users with at least 223 Alpha points can claim 88 FLY tokens airdrop on the Alpha event page when trading opens. Please note that claiming the airdrop will consume 15 Alpha points. Users must complete the claim within 24 hours after the claim opens, or it will be considered a waiver of the airdrop.
OKX announces delisting of multiple leveraged trading pairs and adjusts token discount rates
According to OKX's official announcement, to prevent market risks, the platform will delist some leveraged trading pairs.
- The trading pairs BSV/USDT, BSV/BTC, LUNC/USDT, and BAND/USDT will be delisted from June 11, 14:00 to 18:00 (UTC+8);
- The trading pairs CELR/USDT, MOVR/USDT, and SWEAT/USDT will be delisted from June 12, 14:00 to 18:00 (UTC+8).
- All borrowing functions related to the trading pairs have been stopped since June 6, 17:30 (UTC+8).
At the same time, OKX will adjust the discount rates for the relevant tokens, gradually reducing the discount rates of the delisted tokens to 0. The platform advises users to manage their positions in a timely manner to avoid forced liquidation due to rule adjustments.
Coin Bureau co-founder: Circle's IPO funding amount is only Tether's quarterly operating profit
Coin Bureau co-founder and CEO Nic stated on the X platform that Circle's IPO issued 34 million shares, priced at about $31 per share, raising about $1 billion. Although it achieved great success, its funding scale is only equivalent to the quarterly operating profit of its main competitor, Tether. Currently, USDT occupies over 60% of the stablecoin market, while USDC's market share is less than a quarter of the former.
ARK Invest purchases $373 million worth of Circle stock on the first trading day
According to CoinDesk, Circle (CRCL) listed on the New York Stock Exchange on its first day, with the stock price peaking at $103.75, up about 50% from the opening price of $69. Cathie Wood's ARK Invest purchased nearly 4.5 million shares of Circle stock on the first trading day, with a holding value of $373 million based on the closing price of $83.23.
Meanwhile, ARK Invest reduced its holdings in some other crypto-related stocks, including $39 million in Coinbase (COIN), $18.5 million in Robinhood (HOOD), and $10.4 million in Block (XYZ). As a result, Circle has become another key holding in ARK Invest's portfolio following Coinbase and Robinhood.
Mirror Tang (@mirrorzk), founder of Web3 security company Salus, stated on social media that since March of this year, Chinese law enforcement has solved 3 cases of cryptocurrency money laundering using HyperLiquid. The operation method involved using Hyperliquid's high-leverage liquidation mechanism to hedge and clean illegal gains, creating liquidation losses on HyperLiquid while profiting from reverse positions on centralized trading platforms, thus completing the money laundering. Salus will release a research article in collaboration with law enforcement agencies to formally disclose this information.
Mirror Tang also pointed out that the strategy structure is highly similar to the recent operations of the whale James Wynn, who opened high-leverage contracts and ultimately withdrew $100 million in profits. Mirror Tang urged Hyperliquid co-founder Jeff to pay attention to this issue, stating that if the current lack of risk control measures cannot be resolved, there will be a high risk of regulatory intervention.
Binance is about to launch Skate (SKATE) trading and perpetual contracts
Binance announced that Skate (SKATE) will be launched for trading on the Binance Alpha platform on June 9, 2025, at 10:00 (UTC). At the same time, Binance's contract trading platform will launch the SKATEUSDT perpetual contract on the same day at 10:30 (UTC), supporting up to 50x leverage.
Ogle (@cryptoogle), an advisor for the Trump family crypto project World Liberty Fi, stated on the X platform: "Why do people still not know that Meme coins and World Liberty Fi are completely different? In any case, hedging is indeed necessary in uncertain times."
In addition, Ogle confirmed that the Trump Group, WLFI, Trump Media Technology Group, and the Meme coin TRUMP are all independent entities. While people speculate about their connections, it does not change the fact that these entities are independent.
Previous report indicated that according to LookonChain monitoring, WLFI advisor @cryptogle deposited 1 million USDC into Hyperliquid 5 hours ago and shorted TRUMP with 10x leverage, with a liquidation price of $12.49.
Hong Kong's "Stablecoin Regulation" will take effect on August 1, 2025
The Hong Kong SAR government today (June 6) published the "Stablecoin Regulation (Effective Date) Announcement" in the Gazette, designating August 1, 2025, as the date for the implementation of the "Stablecoin Regulation" (Chapter 656) (the "Regulation").
The Secretary for Financial Services and the Treasury, Christopher Hui, stated: "After the Regulation takes effect, the licensing system will provide appropriate regulations for relevant stablecoin activities, marking a milestone in promoting the sustainable development of Hong Kong's stablecoin and digital asset ecosystem."
"What are the exciting articles worth reading in the past 24 hours"
Circle's strong listing, two circuit breakers, who are the beneficiaries behind it?
The "compliance narrative" of USDC has finally received its Wall Street certification.
U.S. stocks crash, Bitcoin plummets, did Musk and Trump 'curse' out a financial tsunami?
"Neither of these two has done what an adult man should do: control emotions and watch their mouths."
This article is for general informational reference only and does not constitute any form of legal opinion, investment advice, or other professional advice. Users should conduct independent review and confirmation with a qualified lawyer before taking any action based on this material.
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Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of June 6, 19:50:
In the past 24 hours, the top five popular tokens on Ethereum are: ZEUS, DOGE, OMALLEY, PVE, KBBB
In the past 24 hours, the top five popular tokens on Solana are: PEPECHIN, KBBB, TSLA, LC, Fartcoin
In the past 24 hours, the top five popular tokens on Base are: DEGEN, SATO, KAITO, BAPE, SLAP
Risk warning
Risk warning
