[Evening News Briefing] Cryptocurrency Criminals on the Rise in Political and Regulatory Void, etc.

Cryptocurrency Crime Thrives Amid Political and Regulatory Gaps

It has been pointed out that politicians issuing meme coins and the U.S. regulatory authorities' withdrawal of cryptocurrency-related lawsuits are accelerating the 'Crypto Crime Supercycle'. According to Cointelegraph, blockchain security expert ZachXBT posted on X, "Politicians are issuing meme coins, and with the U.S. regulatory authorities stopping multiple lawsuits, influential influencers are not being punished for deceiving their followers. The current environment, where phishing and black hat hacking are rampant, is more severe than at any point in the past, and malicious actors are being left unguarded in the regulatory vacuum." Taylor Monahan, senior security researcher at MetaMask crypto wallet, said, "The cryptocurrency industry has maintained itself without filtering out criminals over the past two cycles. They are operating in a structure where they can quickly generate profits without legal, financial, or social friction, and are satisfied with the current system, so they have no reason to change their attitude. If cryptocurrencies were to disappear tomorrow, the biggest victims would be ransomware criminals."

K33 Raises $19.2 Million through Stock Issuance, Plans to Purchase More BTC

Norway-based cryptocurrency brokerage and research firm K33 announced the completion of a direct stock issuance of 185 million Swedish kronor (approximately $19.2 million) to strengthen its Bitcoin reserves. They exceeded their target of 85 million kronor by more than double. K33 plans to use the raised funds for BTC purchases, expanding brokerage margins, and launching new products. K33 had previously announced the purchase of 10 BTC on June 3rd (local time).

Animoca Brands Plans to Issue Hong Kong Dollar-Pegged Stablecoin

According to the China National Business Daily (NBD), Non-Fungible Token and blockchain game development and investment company Animoca Brands plans to establish a joint venture with Standard Chartered (SC) and Hong Kong Telecom and issue a Hong Kong dollar-pegged stablecoin.

Financial Services Commission: "Bitcoin Spot ETF Introduction and Stablecoin Framework Not Confirmed"

The Financial Services Commission clarified that reports of pursuing a Bitcoin spot ETF introduction and stablecoin regulatory framework within the year are "not confirmed," as reported by Hankyung.com. Previously, the Financial Services Commission was known to have reported a plan to the National Planning Committee to implement the new government's cryptocurrency campaign promises, including the introduction of a Bitcoin spot ETF and reorganization of the stablecoin regulatory framework.

In the past 24 hours, the scale and liquidation ratio of cryptocurrency perpetual futures forced liquidation are as follows:

ETH liquidation scale: $16.59 million, liquidation ratio: Long 53.16%

BTC liquidation scale: $9.75 million, liquidation ratio: Long 52.85%

SOL liquidation scale: $4.38 million, liquidation ratio: Long 57.79%

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