Daily News: US Weekly Jobless Claims Eases, Hong Kong Announces New Crypto Policy Statement, Grayscale Updates Q3 Top 20 List, and More

US Initial Jobless Claims for the Week Ending June 21 Recorded at 236,000, Expected 245,000

Initial claims for unemployment insurance decreased to 236,000 for the week ending June 21, down 10,000 from the revised figure of 246,000 in the previous week. The 4-week moving average also fell slightly to 245,000. Meanwhile, continuing claims rose to 1.974 million, the highest level since November 2021, with the 4-week average reaching 1.941 million. The insured unemployment rate remained steady at 1.3%. Among states, New Jersey reported the highest unemployment rate at 2.20%, while South Dakota had the lowest at 0.27%.

US Senator Lummis Reveals Crypto Market Structure Bill to Be Announced Before August Recess

US Senator Lummis announced that the Senate is drafting a market structure bill, which is planned to be unveiled before the congressional recess in August and revised in September.

US Court Dismisses Joint Motion by Ripple and SEC

Judge Analisa Torres of the Southern District of New York dismissed a joint motion by Ripple Labs and the US Securities and Exchange Commission (SEC) on June 26, 2025. The motion requested the court to (1) lift the permanent injunction requiring Ripple to comply with the law, and (2) reduce the fines imposed on Ripple by more than half. This case originated from the SEC's lawsuit against Ripple in 2020 for unregistered XRP token sales, violating Section 5 of the Securities Act of 1933. On July 13, 2023, the court ruled that Ripple's sales of XRP to institutional buyers violated securities laws.

Hong Kong Officially Releases the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong

Hong Kong government announces the official release of "the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong" on June 26, reaffirming its commitment to becoming a global innovation hub in the digital asset sector. The policy declaration introduces the "LEAP" framework, which focuses on four key areas:

• Legal and regulatory streamlining;

• Expanding the suite of tokenised products;

• Advancing use cases and cross-sectoral collaboration;

• People and partnership development.

The Financial Secretary, Mr Paul Chan, stated, "Digital assets hold great development potential with significance to fintech. Through the adoption of blockchain technology, more efficient financial transactions at a lower cost can be realised to bring in more inclusive financial services. The Policy Statement 2.0 sets out our vision for DA development and showcases the practical use of tokenisation through application, with a view to boosting the diversification of use cases. We strive to build a more flourishing DA ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation, such that it will bring benefits to both the economy and society while consolidating Hong Kong's leading position as an international financial centre."

Kraken Obtains MiCA License in Ireland to Provide Regulated Services in 30 EEA Member States

Kraken announced that it has obtained a Markets in Crypto-Assets (MiCA) license from the Central Bank of Ireland, allowing the exchange to offer regulated services in 30 member states of the European Economic Area.

Arjun Sethi, Kraken's Co-CEO, stated: "We believe trust is the most valuable currency in crypto, and it’s something you earn." This approval marks another significant milestone following Kraken's acquisition of a Markets in Financial Instruments Directive (MiFID) license in February this year and an Electronic Money Institution (EMI) license in 2023.

Hazeflow Founder: Polychain Profits Over 4x by Selling Celestia Staking Rewards

Hazeflow founder Pavel Paramonov disclosed that Polychain invested approximately $20 million in the Celestia project. Polychain sold staking rewards from Celestia, obtaining tokens valued at over $80 million, achieving profits exceeding four times the initial investment. Celestia has currently dropped 92.2% from its historical peak.

YZi Labs Announces Investment in Decentralized Entertainment Platform MEET48

YZi Labs announced its investment in MEET48, a decentralized entertainment platform from the BNB Chain MVB (Most Valuable Builder) accelerator, aiming to address challenges in fan interaction through token-driven solutions.

This round of funding will accelerate MEET48's development and further enrich its Web3 fan experience through virtual performances, idol development games, and real-world events.

Grayscale Updates Q3 Top 20 List, Adds AVAX and MORPHO, Removes LDO and OP

Grayscale Research updated its Top 20 assets list for Q3 2025, according to an official announcement on June 27. This quarter, Avalanche (AVAX) and Morpho (MORPHO) were added due to increased on-chain activity and strong growth in decentralized lending, respectively. Lido DAO (LDO) and Optimism (OP) were removed, facing competitive pressure from centralized staking services and uncertainties in token revenue distribution.

Movement Address Withdraws 83 Million MOVE Tokens from Binance in 9 Hours, Buyback Progress at Approximately 54.2%

According on-chain analyst @ai_9684xtpa, Movement's buyback address withdrew 83 million MOVE tokens from Binance in the past 9 hours. Movement had previously committed to using $38 million to repurchase tokens, with yesterday marking the last day of the three-month deadline. Based on the token extraction price estimation, the current buyback progress is approximately 54.2%.

SOL Strategies Announces Strategic Ecosystem Reserve Plan, Acquires 52,181 JTO Tokens

SOL Strategies announces the launch of its Strategic Ecosystem Reserve (SER) plan, with the initial acquisition of 52,181 JTO tokens. As a deeply integrated infrastructure builder for Solana, the company will invest in foundational projects driving ecosystem development, with a particular focus on the MEV infrastructure of Jito Network, which is critical to Solana's performance and validator economy. The reserve is funded by a portion of validator revenues, allowing SOL Strategies to strategically support key infrastructure while retaining core SOL funds.

China Renaissance Holdings Announces $100 Million Investment to Fully Enter the Digital Currency Sector

China Renaissance Holdings Ltd. (HKG: 1911.HK, hereinafter referred to as "CR Holdings") announces the appointment of Mr. Frank Fu Kan and Ms. Chen Jiali as independent non-executive directors on June 26, 2025. The board also approved a $100 million investment over the next two years to develop Web 3.0 business and digital currency assets. The company will focus on stablecoins, RWA (Real World Assets), and the full-chain ecosystem of digital assets while actively applying for relevant business licenses. This move is a significant step in CR Holdings' "2.0 era" strategy, aiming to create the company's "second growth curve" and lead traditional finance into becoming a global core force in Web3 investment.