Daily News 6.17: GENIUS Act Final Vote Scheduled, JPMorgan "JPMD" Filed, Pump.fun Frozen Founder X Account Frozen, Binance Wallet New TGE, and More

The U.S. Senate scheduled the final vote on the GENIUS Act (S.1582) for June 18 at 4:30 AM Beijing time (June 17, 4:30 PM EDT). This marks the last round of voting in the Senate after the bill completed its amendment process. If approved, it will proceed to the House of Representatives for further consideration.

Hong Kong to Expedite Stablecoin Licensing Applications

Hong Kong Financial Secretary Paul Chan stated that the Hong Kong Monetary Authority (HKMA) will swiftly process stablecoin license applications following the enactment of the Stablecoin Ordinance. As the demand for stablecoins grows with the expansion of the digital asset market, Chan highlighted their potential to overcome traditional payment limitations and enable innovative financial solutions through programmability. The HKMA aims to support qualified applicants in launching their businesses efficiently.

Truth Social Submits Bitcoin and Ethereum ETF Forms

Truth Social submits Bitcoin and Ethereum ETF S-1 forms to the U.S. SEC, as disclosed by Bloomberg analyst James Seyffart. This move signals a significant step in expanding their financial offerings.

Trump Group Launches New Mobile Phone Business

Trump Organization is set to launch a smartphone called Trump Mobile, which will be manufactured in the United States. The device will offer a variety of services, including roadside assistance and unlimited texting. According to Jinshi Data, the phone will be priced at $499 and is expected to be released in September.

SRM Entertainment Plans Rebranding to Tron Inc

The U.S.-listed entertainment company SRM Entertainment Inc. announced that it has signed a Securities Purchase Agreement ("SPA") with a private investor to raise $100 million. SRM plans to use these funds to launch a Tron token (TRX) treasury strategy.

Notably, the Financial Times previously reported that Tron is seeking to go public through a reverse merger with SRM Entertainment. Justin Sun, the founder of the Tron blockchain, has been appointed as an advisor to the company. The new company will be named Tron Inc. It is reported that if all warrants are exercised, the value of this strategic investment will reach $210 million.

Polyhedra Co-founder Announces Token Buyback

Polyhedra co-founder Tiancheng Xie announces plans to buy back more ZKJ tokens on social media, aiming to stabilize the market and prevent future financial attacks.

JPMorgan Files Trademark Application for "JPMD"

JPMorgan filed a trademark application for “JPMD,” signaling potential expansion into blockchain and crypto services, including digital asset trading, exchange, and payment processing. This move has sparked speculation about a possible stablecoin venture, aligning with reports of major banks exploring joint stablecoin initiatives. JPMorgan’s blockchain platform, Kinexy, has already processed over $1.5 trillion in payments using JPM Coin, a private stablecoin.

PumpFun Founder's X Account Frozen

Solana meme coin platform PumpFun faces account freeze for its official X account and founder Alon Cohen’s personal account, impacting their social media presence.

ZachXBT Links WhiteRock to Zkasino Fraud

On-chain analyst ZachXBT revealed that at least one team member involved in the $30 million Zkasino scam is suspected to be behind the WhiteRock Finance project.

He pointed out that the WhiteRock team is anonymous, has faked partnerships, shows suspicious fund movements, and that its marketing wallet is linked to stolen funds from Zkasino. ZachXBT also connected a core member of the Zkasino team to WhiteRock through email metadata and urged exchanges MEXC and Gate to conduct further due diligence and consider delisting the token.

ZachXBT warned that, given WhiteRock's ties to projects like Zkasino, Syncus, and ZigZag, there is a high risk the project could be an exit scam.

Binance Wallet Announces Exclusive TGE BOMB

Binance Wallet announces the launch of a new exclusive TGE BOMB, available for subscription on June 17, 2025, from 4 PM to 6 PM (UTC+8).

Metaplanet Increases Bitcoin Holdings

The Tokyo-listed company Metaplanet purchases an additional 1,112 BTC at $105,435 each, bringing total holdings to 10,000 BTC. The investment reflects a 266.1% ROI since 2025, with a total cost of approximately $947 million.