Daily News: US Interest Rates Remained at 4.25% - 4.50%, USDC Eligible as Collateral, Shanghai Blockchain Tech Backed, Iran's Nobitex Attack Claimed by Israeli Hacker, and More

US Fed Maintains Interest rates at 4.25% - 4.50% But Projects 2 Cuts by the End of 2025

The U.S. Federal Reserve held its benchmark interest rate steady in the 4.25%-4.50% range, projecting two rate cuts by the end of 2025 despite expectations of "meaningful" inflation due to impending import tariffs. Fed Chair Jerome Powell emphasized that future rate paths are data-dependent, cautioning against over-reliance on current projections. The central bank's outlook reflects a modestly stagflationary economy, with anticipated slower growth and increased unemployment. Despite the stability in rates, policymakers remain vigilant about potential inflationary pressures and global economic uncertainties.

U.S. Weekly Initial Jobless Claims Match Expectations

The U.S. recorded 24.5 thousand initial jobless claims for the week ending June 14, meeting expectations. According to Jin10 Data, the previous figure was revised from 248 thousand to 250 thousand.

Coinbase Partners With Nodal Clear to Integrate USDC as Futures Collateral

Coinbase announced a partnership with Nodal Clear to make USDC stablecoin eligible as collateral for margined futures trading, pending approval from the Commodity Futures Trading Commission (CFTC). The integration aims to establish USDC as a cash equivalent, offering operational efficiency and secure custody. This marks a significant step in promoting stablecoin adoption within regulated financial markets, with the launch expected in 2026.

Ohio Advances Blockchain Bill with $200 Bitcoin Tax Exemption

Ohio passed the Ohio Blockchain Basics Act (HB 116), proposing tax-free Bitcoin payments under $200 to encourage crypto adoption and innovation. The bill, which received unanimous bipartisan support, establishes legal definitions for blockchain protocols, protects self-custody and node operations, and aims to remove barriers to using Bitcoin for everyday transactions. Advocates praise it as one of the strongest crypto legislations in the U.S., positioning Ohio as a leader in digital asset regulation.

Circle Rises Above $200, Setting a New All-Time High

Circle rises above $200 with a 24-hour increase of 6.12%, setting a new all-time high. The stock price of the first stablecoin company listed in the U.S. stock market, Circle (CRCL), surpassed $200, reaching $211.80 in after-hours trading.

China's Central Financial Committee Issues Key Measures to Support Shanghai International Financial Center

The Central Financial Committee issued the "Opinions on Supporting the Acceleration of the Construction of Shanghai as an International Financial Center." The opinions propose strengthening the construction of a unified financing credit service platform, supporting financial institutions in using blockchain and other technological means to develop supply chain finance. They also aim to serve the development of a multi-tiered, multi-pillar pension insurance system, build a high-quality global financial technology center, and promote financial support for higher-quality integration in the Yangtze River Delta region.

Hong Kong SFC Updates Licensed Virtual Asset Trading Platform List, BGE Becomes the 11th Licensed Platform

The Hong Kong Securities and Futures Commission (SFC) updated its list of licensed virtual asset trading platforms, showing that Hong Kong BGE Limited (BGE) has obtained a virtual asset trading platform license. As of now, a total of 11 trading platforms have received licenses for virtual asset trading in Hong Kong, while the number of platforms currently applying for licenses stands at 9.

JD Chain CEO Liu Peng: JD's Hong Kong-Macau Platform to Soon Support Stablecoin Payments

JD Coinlink, a subsidiary of the Chinese e-commerce giant JD Technology Group, revealed plans to launch stablecoins pegged to the Hong Kong dollar and other currencies after successful sandbox testing in Hong Kong. The company aims to integrate these stablecoins into JD's ecosystem, enabling cross-border payments, retail transactions, and investment trading. With the Hong Kong regulatory framework for stablecoins taking effect in August 2024, JD Coinlink anticipates obtaining a license by Q4 2024 to issue its stablecoins on public blockchains, targeting international trade and payment efficiency.

China Yiwu Small Commodity City Responds to Market Concerns and Plans Hong Kong Expansion

Yiwu Small Commodity City responded to market inquiries on June 18, stating its interest in applying for a Hong Kong stablecoin license to enhance cross-border payment efficiency. The company announced plans to leverage Hong Kong's financial ecosystem by establishing subsidiaries to apply for a TCSP license, aiming to strengthen its cross-border financial services through its Yiwu Pay platform. This move aligns with its strategy to support global SMEs and expand its trade ecosystem.

Tether Issues 1 Billion USDT on Ethereum Blockchain

Tether issues 1 billion USDT on the Ethereum blockchain, valued at approximately 1.001 billion USD, according to Whale Alert monitoring.

Cryptocurrency Broker FalconX May Consider IPO This Year

FalconX considers submitting an initial public offering (IPO) application as early as this year, according to Decrypt. Three insiders revealed that the company has conducted informal consultations with bankers and advisors regarding the listing process but has not yet officially hired an investment bank. FalconX's latest funding round valued the company at $8 billion, aiming to meet institutional investors' growing demand for digital assets and raise funds for strategic partnerships and acquisition plans.

Sonic Launches Second Season Airdrop Event

Sonic Labs CN announces the official launch of its second-season airdrop event today. Users can participate by posting designated images with the #Sonic hashtag for a chance to win rewards.

Bitdeer Announces $300 Million Convertible Notes Offering

Bitcoin mining platform Bitdeer announced its intention to offer $300 million in Convertible Senior Notes due 2031 through a private placement to qualified institutional buyers. The proceeds will be used for datacenter expansion, ASIC mining rig development, and general corporate purposes. Bitdeer also plans a zero-strike call option transaction and concurrent note exchange as part of the offering, subject to market conditions and other factors.

Iran's Nobitex Hacked for $48 Million by Israeli Hacker Group Gonjeshke Darande

Nobitex, Iran's leading crypto exchange, suffered a massive cyberattack by the Israeli-linked hacker group Gonjeshke Darande, resulting in the theft of $48.65 million, primarily in TRX tokens.

Hacker group Gonjeshke Darande (Persian for "Fierce Sparrow" claims to have launched a cyberattack on the Iranian cryptocurrency exchange Nobitex and warns that it will release the exchange's source code and internal network information within 24 hours.

The group accuses Nobitex of being a core tool used by the Iranian regime to evade international sanctions and fund terrorist activities, even allegedly providing users with guidance on how to bypass sanctions using its infrastructure. The hackers also claim that working at Nobitex is considered valid military service by the Iranian government, highlighting the exchange's significance to the regime.