Crypto Morning News: Bitcoin trading volume drops to an 18-month low, user credentials from tech giants including Apple and Google among 16 billion leaked

Author: TechFlow

Yesterday's Market Dynamics

Trump: Powell is truly an idiot

U.S. President Donald Trump posted again on social media: "Mr. Too Late" Powell is the worst, he's truly an idiot and is costing America billions of dollars! In his post, Trump also shared an article stating that regulators overseeing Fannie Mae and Freddie Mac believe Powell should cut interest rates—or resign.

Bitcoin transaction volume drops to 18-month low as Runes and Ordinals hype fades

According to The Block, Bitcoin network transaction activity has fallen to its lowest level in 18 months. The 7-day moving average of daily transactions dropped to 316,000 last week and has since slightly recovered to around 350,000. This contrasts sharply with the peak of 700,000 daily transactions during the mid-2024 boom period for native Bitcoin protocol applications.

The sharp decline in volume reflects cooling speculative activity around native Bitcoin protocols such as Runes and Ordinals. Once seen as bringing Ethereum-like application capabilities to Bitcoin, these protocols have gradually faded from mainstream attention, with trader interest shifting toward other blockchain ecosystems more natively suited to such activities.

People's Court Daily: Exploring overseas compliant monetization and "black hole address" destruction mechanisms for virtual currency disposal

An article published in *People's Court Daily*, authored by the Shenzhen Intermediate People's Court in Guangdong Province, states that virtual currencies possess recognized property attributes—a consensus increasingly established in judicial practice.

For cases requiring restitution to victims or asset confiscation, a balanced approach between handling seized virtual assets and complying with mainland regulatory policies could involve exploring solutions under the supervision of authorities like the PBOC and foreign exchange regulators. This includes authorizing qualified third-party institutions to convert virtual currencies into fiat at market prices through licensed platforms in jurisdictions where cryptocurrency trading is legal—such as Hong Kong.

Virtual currencies used for criminal purposes and posing threats to national security or public interests—such as privacy coins—could be sent to a "black hole address," effectively destroyed and permanently removed from circulation.

Jingdong (JD): Testing stablecoin under HKMA sandbox, targeting Q4 launch

According to Jin10 News, Liu Peng, CEO of JD Bichain Technology under JD Tech, recently stated that the company is testing a compliance-focused stablecoin pegged to the Hong Kong dollar and other currencies within the Hong Kong Monetary Authority’s (HKMA) regulatory sandbox. The stablecoin is planned for launch as early as the fourth quarter of this year, initially being used for settlement on JD Global’s Hong Kong and Macau storefronts. Liu emphasized that JD’s stablecoin will primarily serve traditional cross-border trade markets, leveraging advantages such as compliance, security, and auditability to meet real-world payment demands across Asia-Pacific, the Middle East, and Africa. On June 19, JD confirmed the accuracy of these statements but clarified that the timeline is conditional: “We hope to receive our license and launch the JD stablecoin at the beginning of Q4. The stablecoin will be issued on a public blockchain, allowing anyone to publicly verify data such as issuance volume.”

Sol Strategies files for Nasdaq listing under ticker "STKE"

Official filings show that Sol Strategies, currently listed on the Canadian Securities Exchange, has submitted an application to the U.S. Securities and Exchange Commission to begin trading on the Nasdaq under the stock symbol "STKE." The company has been accumulating SOL as a financial asset and operates Solana validators, holding over 420,000 SOL to date.

Nasdaq-listed Lion Group Holding secures $600 million funding, launching HYPE treasury strategy

According to Cointelegraph, Nasdaq-listed Lion Group Holding has secured $600 million in funding and plans to adopt HYPE as its primary reserve asset, launching a next-generation Layer-1 treasury alongside SOL and SUI.

MinionLab releases new update for smoother, more efficient experience

MinionLab has rolled out a major update delivering a refreshed interface and enhanced performance. The desktop version (v0.1.13) features a completely redesigned UI and performance optimizations. Dashboard upgrades include new Epoch Rankings and Referral Status sections, along with integration support for Solana wallets. MinionLab announced its official expansion into the Solana ecosystem, leveraging Solana’s speed, scalability, and on-chain potential to unlock greater opportunities for every Minion. Users can now update the app to access the latest features.

Binance Wallet to host exclusive LOT token TGE on June 20

Per official announcement, Binance Wallet will host an exclusive Token Generation Event (TGE) for the LOT token on June 20.

Subscription window: June 20, 2025, from 4:00 PM to 6:00 PM (UTC+8);

Eligibility: Qualified users must participate using Binance Alpha Points;

An additional 40,000,000 LOT tokens will be allocated for future events, with details to be announced separately.

CZ: Every platform should have a "will function"

Changpeng Zhao (CZ), founder of Binance, recently posted on social media: "Humans cannot live forever. Every platform should have a 'will function' enabling users’ assets to be distributed according to specified proportions to designated accounts upon their passing." He advocated that regulatory frameworks should allow minors to hold receiving accounts. Regarding Binance’s emergency contact and inheritance feature launched on June 12, CZ described it as a functionality “everyone will eventually need once.”

User credentials from Apple, Google and other tech giants—16 billion in total—leaked in historic breach

According to Forbes, cybersecurity researchers have confirmed the largest data breach in history, exposing approximately 16 billion login credentials—including passwords. The Cybernews research team began investigating earlier this year and discovered 30 exposed datasets, each containing anywhere from tens of millions to over 3.5 billion records.

The leaked data includes user account information from social media platforms, VPNs, developer platforms, and all major technology providers including Apple, Facebook, and Google. Researchers warn this is not just one leak, but a "blueprint for mass-scale attacks," providing fertile ground for phishing and account takeover attempts.

Security experts urge immediate action: change account passwords, use password managers, enable multi-factor authentication wherever possible, and consider transitioning to more secure passwordless login methods. Darren Guccione, CEO of Keeper Security, stressed that this incident highlights the risks of sensitive data being inadvertently exposed online and underscores the importance of robust password management.

Telegram founder drafts will: to split $17.1 billion fortune among 6 biological children and 100 donor-conceived offspring

According to the *New York Post*, Telegram founder Pavel Durov revealed he has drafted a will outlining the distribution of his $17.1 billion fortune among six biological children and 100 children conceived via sperm donation. Durov stated that all children will have equal inheritance rights, though the funds will only become accessible 30 years from now.

Market Overview

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