Daily News: Vietnam Legalizes Digital Assets, Fidelity Files for Solana ETF, LINEA TGE, Major Token Unlocks, and More

Trump Urges Iran and Israel to Resolve Conflict, Suggests Fighting May Be Necessary

US President Donald Trump urged Iran and Israel to "make a deal" amid escalating military strikes between the two nations, but suggested they might need to "fight it out" first. Speaking before the G7 summit in Canada, Trump warned Iran of severe US military retaliation if it attacks the United States and reiterated that Washington was not involved in Israel's strikes on Tehran's nuclear facilities. While expressing optimism for peace, he emphasized ongoing negotiations and called for a swift resolution to the conflict.

Trump Organization to Make Major Announcement on June 16

The Trump Organization announced on its official X platform that it will release a major announcement at 8:00 AM EST on June 16 at Trump Tower in New York. Eric Trump, the company’s Executive Vice President and a key decision-maker in the family’s crypto project, World Liberty Financial, is expected to play a significant role. The organization has previously applied for the trademark “TRUMP” to launch a metaverse and NFT trading platform.

White House Rejects Conflict-of-Interest Ban in Crypto Bill

The White House rejected a bipartisan proposal to include conflict-of-interest provisions in the CLARITY Act, which aimed to address concerns over President Trump’s crypto activities. The provision sought to bar senior officials and their families from profiting from digital assets in office. Despite efforts by both parties to craft neutral language, the administration opposed the measure, leaving negotiations in limbo as lawmakers race to finalize the bill before the summer recess.

Vietnam Legalizes Digital Assets with New Law

Vietnam has legalized digital assets following the National Assembly's approval of the Law on Digital Technology Industry. The law, effective January 1, 2026, categorizes digital assets into virtual and crypto assets, excluding securities and digital fiat currency. It aims to align Vietnam with international standards, improve cybersecurity, and foster innovation in the digital technology sector, including semiconductors and AI.

Fidelity Files for Solana ETF

On June 13, Fidelity filed for a Solana-backed exchange-traded fund (ETF) to be listed on the Cboe BZX Exchange. The Fidelity Solana Fund aims to track Solana's real-time price using a volume-weighted median price (VWMP) index, with assets securely held in cold storage. The fund will distribute staking rewards to investors and ensure transparency by disclosing daily net asset value (NAV) and holdings. Tax rules will apply to gains and staking income, with all operations designed to comply with federal regulations.

Beam and Braid Partner to Modernize Community Banks with Stablecoins

Beam and Braid have partnered to provide stablecoin infrastructure to community banks and credit unions in the U.S., aiming to help smaller institutions compete with larger financial players. Launching with seven partner banks in the northeast and midwest, the initiative offers APIs for real-time payments, cross-border transactions, and modern wallet experiences. The program, primarily running on Solana, targets banks of varying sizes, offering scalable solutions and innovation sandboxes to modernize their services.

Binance Adjusts Alpha Points Calculation Amid Market Volatility

Binance announced that, starting June 17, 2025, trading volumes between Alpha token pairs will no longer contribute to Alpha Points. It is aware of significant price volatilities in ZKJ and KOGE tokens, attributed to large holders removing on-chain liquidity and a liquidation cascade in the market. This move aims to stabilize the market amidst growing criticism from affected investors.

Analyst: The ZKJ and KOGE Crash May Have Been a Premeditated Rug Pull

According to on-chain data analyst AiYi (@ai_9684xtpa), the flash crash of ZKJ and KOGE tokens might have been a premeditated rug pull. The analysis pointed to three key addresses targeting the massive trading volume and liquidity of the two tokens within the Binance Alpha ecosystem. By applying dual pressure through "large-scale liquidity withdrawal and continuous selling," both ZKJ and KOGE experienced sequential collapses.

Key Events and Actions

1. Address 0x1A2...27599

• Liquidity Withdrawal: At 20:28:21 and 20:33:15, the address withdrew a total of 61,130 KOGE (approximately $3.76 million) and 273,017 ZKJ (approximately $532,000) from liquidity pools.

• Token Swapping: Between 20:28:58 and 20:36:57, it swapped 45,470 KOGE for ZKJ, worth $3.796 million, causing a noticeable increase in KOGE's on-chain trading volume.

• Token Dumping: Between 20:30:57 and 20:59:49, the address sold 1.573 million ZKJ tokens in batches for USDT and BNB, worth $3.052 million, with an average selling price of $1.94.

• At this stage, both KOGE and ZKJ showed minor stepwise declines but had not yet crashed.

2. Address 0x078...8bdE7

• Liquidity Withdrawal: At 20:30:33, the address withdrew 33,651 KOGE (approximately $2.07 million) and 709,203 ZKJ (approximately $1.38 million) from liquidity pools.

• Token Swapping: Between 20:31:10 and 20:58:18, it swapped 36,814 KOGE for ZKJ, worth $2.26 million.

• Token Dumping: Between 20:35:15 and 20:37:34, the address dumped 1 million ZKJ tokens, worth $1.948 million, with an average selling price of $1.948.

• This "relay-style dumping" finally triggered a rapid decline in KOGE’s price, as evidenced by several large red candles on the chart.

3. Address 0x6aD...e2EBb

• Token Transfer: At 20:41:55, the address received 772,759 ZKJ tokens (worth $1.5 million) from address 0x078...8bdE7.

• Token Dumping: Between 20:42:28 and 20:50:16, it liquidated all 772,759 ZKJ tokens.

• This address played a supporting role, further accelerating ZKJ’s decline after KOGE’s price collapse, completing the exploitation of liquidity providers and token holders.

The coordinated actions of these three addresses suggest a well-orchestrated plan to exploit the liquidity and trading activity of ZKJ and KOGE, leaving no token unscathed.

VanEck Criticizes Micro Caps' Crypto Treasury Plans

VanEck’s Head of Digital Assets, Matthew Sigel, claims that small-cap Nasdaq companies announcing plans to raise hundreds of millions of dollars for XRP and Solana treasuries are likely engaging in pump-and-dump schemes. Recent examples include Singapore-based Trident Digital Tech and China-based Webus International, both with market caps under $100 million, declaring ambitious treasury strategies. Sigel warns investors to remain cautious, as many of these initiatives lack credible disclosures or anchor investors.

Former Blockchain Exec Joins SEC in Key Leadership Role

Former Blockchain.com executive Jamie Selway has joined the SEC as Director of Trading and Markets, bringing his expertise to the regulatory agency. Alongside Selway, Brian Daly, a crypto-savvy law firm partner, will head the Investment Management Division. These strategic appointments coincide with Congress's ongoing discussions on the CLARITY Act to define SEC and CFTC authority over digital assets.

ConsenSys Founder Announces LINEA to Launch Token First

ConsenSys founder revealed that LINEA will be the first protocol to issue a token as part of the company's short- and mid-term strategic plans. The announcement includes efforts to protocolize existing products and introduce new Web3 projects, with multiple protocols expected to release tokens in the future. Coordination among these protocols is also planned for enhanced development.

Synthetix to Shut Down Base Network L2 Deployment and Refocus on Ethereum Mainnet

Synthetix announced plans to gradually shut down all Layer-2 deployments on the Base network starting July 7, to refocus on the Ethereum mainnet. The decentralized finance platform cited ongoing infrastructure instability and liquidity fragmentation as the primary reasons for this decision. The phased plan includes halting Base transactions and closing liquidity provider vaults.

Voting Begins on Proposal to Dissolve ApeCoin DAO

Yuga Labs co-founder Garga.eth announces the start of voting on Proposal AIP-596 to dissolve ApeCoin DAO, aiming to reform the ApeCoin ecosystem and transfer assets and responsibilities to a new entity, ApeCo. The new entity will be led by Ape Foundation's current Executive Director Cameron Kates and other team members. The proposal requires 3.5% of circulating tokens to vote, with 66% in favor for approval. Voting concludes on June 26, with current support at 99.19%.

Major Token Unlocks Scheduled This Week

Several tokens, including MRS, FTN, and S, will undergo significant one-time unlocks this week, releasing a total value exceeding $100 million. The details are as follows:

• MRS: 10M tokens on June 21, worth ~$200M (0%).

• FTN: 20M tokens on June 18, worth ~$88.8M (4.65%).

• ARB: 92.65M tokens on June 16, worth ~$30.2M (1.91%).

• S: 47.63M tokens on June 18, worth ~$15.73M (1.65%).

• APE: 15.6M tokens on June 17, worth ~$10.34M (1.95%).

Source: Tokenomist