Daily News: Iran Approves Closure of Hormuz Strait, Texas Establishes Bitcoin Reserve, Kakao Pay Launches KRW Stablecoin, and More

Iran Approves Closure of Hormuz Strait Following US Strikes

Iran’s parliament approved a measure to close the vital Strait of Hormuz in response to recent US attacks on its nuclear facilities. These strikes targeted three key sites in Fordo, Natanz, and Isfahan, escalating tensions in the region. The decision awaits final approval from the Supreme National Security Council, Iran’s top security authority, as the country retaliates against US-backed Israeli military actions.

Texas Establishes Bitcoin Reserve with New Legislation

Texas Governor Greg Abbott signed Senate Bill 21 into law, enabling the state to create a Bitcoin reserve as part of its financial strategy. The reserve aims to hedge against inflation and economic volatility while requiring Bitcoin to maintain a 24-month average market cap of $500 billion. The law, effective September 1, 2025, also establishes an advisory committee to manage the reserve and includes provisions to protect it from automatic abolition through a companion bill, HB 4488.

Wyoming Stable Token Commission Targets August 20 for WYST Launch

The Wyoming Stable Token Commission targets August 20 for the mainnet launch of its WYST stablecoin, a U.S. dollar-pegged digital asset authorized under the 2023 Wyoming Stable Token Act. The commission is evaluating 11 blockchain candidates, including Ethereum, Solana, and Avalanche, for the launch and plans to test integrations with vendors like Chainalysis and Fireblocks. Preparations are aligned with the Wyoming Blockchain Symposium, where the public announcement is expected.

Kakao Pay Launches KRW Stablecoin Initiative

Kakao Pay applies for 18 trademarks combining "KRW" with its brand letters "K" and "P," signaling the start of its Korean won stablecoin project. This move comes as South Korea introduces the Digital Asset Basic Act, allowing private issuance of stablecoins. Industry experts view this as a strategic step to secure stablecoin branding, intensifying competition in the market. Game company Nexus has also expressed ambitions to become the first issuer of a Korean won stablecoin.

Coinbase Establishes European Crypto Hub in Luxembourg

Coinbase announces the establishment of its European crypto hub in Luxembourg under the Markets in Crypto Assets (MiCA) regulatory framework. This milestone enables Coinbase to offer a full suite of regulated crypto products and services to 450 million people across all 27 EU member states. Luxembourg’s forward-thinking financial ecosystem and regulatory clarity make it an ideal location for this expansion. Coinbase has also secured licenses in multiple European countries, uniting these efforts under MiCA to strengthen Europe’s crypto ecosystem and drive innovation across the region.

Binance Alpha Launches Bulla (BULLA) with Airdrop Threshold of 247 Points

Binance Alpha announces the launch of Bulla (BULLA) with a two-phase airdrop system. Eligible Binance users can claim 750 BULLA tokens within 24 hours after trading begins on the Alpha event page. In the first phase (first 18 hours), users with at least 247 Alpha points can claim tokens. In the second phase (final 6 hours), users with at least 186 Alpha points can participate on a first-come, first-served basis until the airdrop pool is depleted or the event ends.

Reddit Considers Iris-Scanning Technology for User Verification

Reddit considers using the iris-scanning Orb technology developed by Sam Altman’s startup, Tools for Humanity, to verify user identity and age while preserving anonymity. The Orb creates encrypted iris scans, fragments the data, and stores it securely on servers worldwide, ensuring privacy. This technology could help Reddit comply with emerging AI and age verification laws without directly collecting user information. Users would receive a unique World ID stored on their smartphones, enabling anonymous credential verification.

Pumpfun Token Auction and Launch Delayed Again

Pumpfun announces that its token auction and launch, originally scheduled for late June, will be delayed again, now expected in mid-July. The token auction is valued at $4 billion, and the Pumpfun team is actively engaging with various funds to sell token allocations.

Michael Saylor Releases Tracker Update, BTC Accumulation Disclosure Expected Next Week

Michael Saylor releases a Tracker update, hinting that BTC accumulation information may be disclosed next week. Historically, Strategy has revealed Bitcoin acquisitions the day after such updates are published, suggesting a potential announcement is imminent.

ARK Invest Sells 1.25 Million Circle Shares, Cashing Out $243 Million

ARK Invest sells 1.25 million shares of Circle stock over the past week, cashing out approximately $243 million after Circle's stock surged nearly 250%. On Friday alone, ARK sold 609,000 shares worth $146 million. Despite the sales, ARK remains the eighth-largest Circle shareholder with $750 million worth of shares.

LD Capital Founder Responds to NEIRO Token Control Allegations

LD Capital founder JackYi responds on social media to allegations by analysts that "Trend Research allegedly controls 64.25% of NEIRO tokens." JackYi clarified that the firm only purchased tokens in the secondary market without selling, attributing the move to the popularity of MEME tokens at the time. He explained that the intention was to buy at a low market value with hopes of NEIRO becoming a leading MEME token in the ETH ecosystem. JackYi emphasized that using real funds to purchase in the secondary market should not be seen as a questionable action.

Token Unlocks Data Shows Over $50 Million Worth of Tokens to Be Unlocked This Week

Token Unlocks shows that multiple cryptocurrency projects will unlock tokens worth over $50 million this week. Key details include:

• BLAST: 10.5B tokens on June 26, worth ~$21.6M (34.97%).

• VENOM: 59.26M tokens on June 25, worth ~$9.95M (2.84%).

• SOON: 41.88M tokens on June 23, worth ~$8.11M (22.41%).

• ALT: 240.1M tokens on June 25, worth ~$6.52M (6.83%).

• UDS: 2.15M tokens on June 26, worth ~$2.31M (2.13%).

• IOTA: 15.16M tokens on June 25, worth ~$2.17M (0.39%).

• VELO: 182.8M tokens on June 26, worth ~$2.01M (2.47%).

• YGG: 14.08M tokens on June 27, worth ~$1.85M (2.68%).

• FET: 3.1M tokens on June 28, worth ~$1.8M (0.12%).

• AGIX: 7.15M tokens on June 28, worth ~$1.79M (2.38%).

• EIGEN: 1.29M tokens on June 24, worth ~$1.3M (0.42%).