Vitalik exchanged DOG for ETH, and Coinbase's stock price reached its highest since going public.

Golden Weekly is a weekly summary column of the blockchain industry launched by Golden Finance, covering key news of the week, mining information, project dynamics, technical progress, and other industry trends. This article is part of the news weekly, bringing you a glimpse of the major events in the blockchain industry this week.

Headline

▌Vitalik's address exchanged 200 trillion DOG tokens for approximately 4.43 ETH

According to monitoring by PeckShield, Vitalik's address exchanged 20 trillion DOG tokens for about 4.43 ETH, worth approximately $108,000.

▌Coinbase(COIN.O)'s stock price rose 3.6%, reaching the highest level since its listing in 2021

Coinbase(COIN.O)'s stock price rose 3.6%, reaching the highest level since its listing in 2021.

▌Hong Kong: Stablecoins are expected to bring transformation to the capital market and will encourage issuers to promote the application of stablecoins in various scenarios

On June 29, news came that the Financial Secretary of Hong Kong, Paul Chan, stated that the potential of fintech in cross-border trade applications is huge. The goal is to address long-standing pain points such as slow cross-border payment speeds and high costs, and to better serve the real economy in the payment sector. One of the four pillars mentioned in the "Digital Asset Development Policy Declaration 2.0" released last week is to "promote application scenarios and cross-sector cooperation." It mentions that stablecoins provide a cost-effective alternative outside the traditional financial system, with the potential to bring about changes in payment and capital market activities, including cross-border payments. The legislation for stablecoins will take effect on August 1 of this year, and the SAR government and financial regulatory bodies will work to create a favorable market environment, along with necessary regulatory measures, to encourage issuers to promote the application of stablecoins in different scenarios, helping to address the real pain points in business operations and citizens' lives.

▌Huatai Securities Research Report: Stablecoins have become one of the important tools for cross-border payments in Yiwu, China

According to a report from Huatai Securities, in Yiwu, the world's small commodities center in China, local stablecoins have become one of the important tools for cross-border payments. Blockchain analysis company Chainalysis estimates that as early as 2023, the on-chain stablecoin flow in the Yiwu market has already exceeded 10 billion USD. (21st Century Business Herald)

▌A member of the Democratic Party of Korea proposed a bill to include digital assets as underlying assets in ETFs

Min Byeong-deok, a member of the Democratic Party of Korea, today initiated an amendment to the "Capital Markets and Financial Investment Business Act" aimed at including digital assets (virtual assets) within the scope of underlying assets and trust property for financial investment products. This amendment will allow digital assets such as Bitcoin to be considered as underlying assets for financial products like exchange-traded funds (ETFs), while also providing legal grounds for trust companies to custody and manage digital assets. This move is one of the core campaign promises of South Korean President Lee Jae-myung. If the bill is passed, South Korean investors will be able to indirectly invest in digital assets through institutional financial products, which will help enhance investor protection and market transparency.

Policy

▌REX Shares: Solana Staking ETF is Coming Soon

On June 28, news emerged that REX Shares announced on platform X that the Solana staking ETF "REX-OspreySOL+StakingETF" is coming soon. This ETF aims to track the performance of Solana while generating returns through on-chain staking. It is claimed to be the first staking cryptocurrency ETF in the United States. Additionally, Bloomberg's senior ETF analyst Eric Balchunas disclosed on platform X that the U.S. Securities and Exchange Commission stated there would be no further comments, so it appears they are ready to launch. Previously, it was reported that the U.S. Securities and Exchange Commission (SEC) warned REX Shares and Osprey Funds that their proposed staking-based Ethereum and Solana ETF may not comply with the definition of an "investment company" under the Investment Company Act, failing to meet the legal compliance requirements for ETFs.

▌Central Bank: It is recommended to strengthen the intensity of monetary policy regulation, and improve the foresight, target orientation, and effectiveness of monetary policy regulation

The Monetary Policy Committee of the People's Bank of China held its second quarterly meeting for 2025 on June 23, where it studied the main ideas for the next phase of monetary policy. It suggested increasing the intensity of monetary policy regulation, enhancing the forward-looking, targeted, and effective nature of monetary policy regulation, and flexibly grasping the strength and pace of policy implementation based on domestic and international economic and financial conditions and the operation of financial markets.

▌Tianfeng Securities subsidiary obtained Hong Kong virtual asset Type 3 license, can provide virtual asset trading services

Tianfeng Securities stated on the interactive platform that its wholly-owned subsidiary Tianfeng International Securities and Futures Co., Ltd. has been approved by the Hong Kong Securities and Futures Commission to obtain the third type of license related to virtual assets, allowing it to provide virtual asset trading services through a comprehensive account arrangement. According to reports, the Hong Kong Securities and Futures Commission's virtual asset-related licenses include the following categories: operating virtual asset trading platforms, managing investment portfolios with over 10% in virtual assets, providing virtual asset trading services through integrated account arrangements, offering advice on virtual assets, and acting as an introducing agent for virtual asset trading platforms. The approval of the third type of license will further promote Tianfeng Securities' development in the virtual asset field.

▌Caitong Hong Kong has been authorized to conduct virtual asset ETF client trading qualifications

Caitong Securities stated on the interactive platform that its wholly-owned subsidiary Caitong Hong Kong has been approved to conduct virtual asset ETF trading on behalf of clients.

▌Canadian banking regulators: Ready to regulate stablecoins and are developing a regulatory framework

The Canadian banking regulator has stated that it is ready to regulate stablecoins, and a regulatory framework is being developed.

Blockchain Applications

▌Cathie Wood: Bitcoin holders may be able to transfer BTC to Coinbase for mortgage loans to buy a house

ARK Invest CEO Cathie Wood posted on the X platform that the net worth of Bitcoin holders is largely concentrated in cryptocurrencies, making it difficult to obtain mortgage loans for a long time. She stated that she would not be surprised if these holders transferred some of their Bitcoin to Coinbase as collateral to purchase new homes that were previously unaffordable.

▌Vitalik: World digital IDs may threaten online anonymity, suggests a diversified model for issuing digital identities

Ethereum co-founder Vitalik Buterin stated while analyzing the risks and rewards of digital identity projects utilizing zero-knowledge proofs that the proposal of "one person, one identity" could threaten online anonymity. Vitalik mentioned that digital identity projects like World could stifle the anonymity enjoyed by many internet users, especially those in the cryptocurrency space. "On the surface, the widespread adoption of zero-knowledge encapsulated digital identities seems like a huge victory, as it can protect our social media, voting, and various internet services from manipulation by bots and fake accounts, without compromising privacy. However, if implemented too strictly, it could jeopardize anonymity." Vitalik suggests adopting a diversified model instead of a single zero-knowledge encapsulation "one person, one identity" solution, where no individual, institution, or platform is solely responsible for issuing digital identities.

▌CNBC: The entry of payment and financial giants into stablecoins may reshape the flow of funds in the United States and even globally

CNBC published an article titled "Stablecoins Going Mainstream: Why Banks and Credit Card Companies Want to Issue Their Own Crypto Tokens," which points out that the entry of payment and financial giants into stablecoins may reshape the flow of funds in the United States and even globally.

1. Jose Fernandez da Ponte, Senior Vice President of PayPal Blockchain, Cryptocurrencies and Digital Currencies, stated that stablecoins are not only a means of value transfer but, in many cases, have already become an infrastructure layer;
2. Mastercard has announced this week that its multi-token network (Multi-Token Network) will support four stablecoins;
3. The CEO of Visa disclosed that they are modernizing their infrastructure using stablecoins;
4. JPMorgan has launched a token backed by deposits from commercial banks rather than by US dollars.

▌WLFI has partnered with Re7 Labs to launch a USD1 treasury on Euler and Lista

The Trump family's crypto project WLFI is collaborating with Re7 Labs to launch a USD1 treasury on the lending platforms Euler and Lista. Recently, Re7 Labs received $10 million in funding support from the Hong Kong family office VMS Group, which manages around $4 billion in assets and has already entered the cryptocurrency space. It is reported that the relevant treasury is part of WLFI's broader plan to expand the USD1 stablecoin to Binance's BNB Chain.

▌The encrypted payroll platform Niural has completed a $31 million Series A financing

The cryptocurrency payroll platform Niural recently completed a $31 million Series A funding round, led by Marathon Management Partners. The company focuses on developing a global PEO ( professional employer organization ) and payment platform, integrating AI technology with a proprietary tax engine.

Cryptocurrency

▌In the past week, at least 9 companies in London have explored Bitcoin strategies, Vinanz plans to rename itself as London BTC Company

According to the Financial Times of the UK, several London-listed companies are entering the Bitcoin market to boost their stock prices. In the past week, at least nine companies have announced that they have purchased or plan to purchase Bitcoin, including:

1. The Tao Alpha plan raises £100 million to launch a Bitcoin funding strategy;
2. Since Smarter Web Company announced its Bitcoin purchase plan in April, its market value has risen to over £1 billion.
3. Panther Metals announced the launch of its Bitcoin strategy and has purchased one Bitcoin, with a short-term goal of holding Bitcoin worth £4 million.
4. Bluebird Mining Ventures has raised £2 million through debt financing for investment in Bitcoin and plans to refinance £10 million;
5. Vinanz currently holds Bitcoin worth $3.85 million and is in the process of rebranding as (London BTC Company).

▌Coinbase has been selected as one of TIME Magazine's "100 Most Influential Companies in the World" for 2025

Coinbase has successfully been selected as one of TIME magazine's "100 Most Influential Companies in the World" for 2025. TIME stated: "Since last fall, the largest cryptocurrency exchange in the U.S., Coinbase, has seen revenues soar to over $2 billion, thanks to the surge of enthusiasm for cryptocurrency following President Trump's election victory, with traders and investors flocking to the platform. During the election, Coinbase led a massive lobbying effort to make cryptocurrency a voting issue. Now, the company became the first cryptocurrency stock to be included in the S&P 500 index in May and has become a key driver of cryptocurrency industry policy efforts in Washington, D.C. If legislation favorable to the industry is passed, Coinbase will become a larger hub for cryptocurrency activity in the U.S."

▌Data: BlackRock has increased its BTC holdings for nine consecutive weeks, with a total increase of approximately 107,139 coins

HODL15Capital disclosed data on platform X, showing that BlackRock's Bitcoin Exchange-Traded Fund (IBIT) has increased its BTC holdings for nine consecutive weeks, with a total increase of approximately 107,139 coins: This week, increased holdings of 12,355 Bitcoins; Acquired 11,678 Bitcoins one week ago; Increased holdings by 10,335 Bitcoins 2 weeks ago; Increased holdings of 616 Bitcoins 3 weeks ago; Increased holdings of 5,271 Bitcoins 4 weeks ago; Increased holdings of 22,359 Bitcoins 5 weeks ago; Increased holdings of 8,158 Bitcoins 6 weeks ago; Increased holdings by 10,415 Bitcoins 7 weeks ago; Increased holdings of 25,952 Bitcoins 8 weeks ago.

▌Robinhood Launches Micro Futures for XRP and Solana

US digital brokerage Robinhood (NASDAQ: HOOD) announced the addition of XRP and Solana micro futures products, as well as the launch of a micro version of its existing Bitcoin Friday futures, further enriching its cryptocurrency product line. Micro futures contracts have a lower capital threshold compared to standard futures. Earlier this year, Robinhood launched cash-settled crypto futures including Bitcoin, Micro Bitcoin, Bitcoin Friday, and Ethereum. Additionally, this month Robinhood just completed a $200 million acquisition of the crypto exchange Bitstamp and intends to acquire WonderFi, supported by Kevin O'Leary, to accelerate its global expansion.

▌The Canadian listed company Bitcoin Treasury Capital has increased its holdings by 81 BTC

The Canadian public company Bitcoin Treasury Capital spent 8.7 million USD to increase its holdings by 81 BTC, bringing its total holdings to 147 BTC.

Important Economic Dynamics

▌****UBS: Expects that the trade and fiscal decisions in the U.S. for July will not have a lasting impact

The United States is expected to make important decisions regarding trade and fiscal policy in July. While these decisions may cause volatility, we do not expect them to have a lasting impact on the strong growth of the U.S. or the markets. The environment of declining interest rates and yields supports stocks and high-quality bonds, while the dollar will continue to show signs of weakness. After a recent strong rally, the return expectations for global stock markets seem limited for the remainder of the year. ( Jin Shi )

▌Traders expect the Federal Reserve to start cutting interest rates in September

Traders expect the Federal Reserve to start cutting interest rates in September, increasing bets that the Fed will cut rates three times in 2025.

▌Federal Reserve's Kashkari: The first rate cut may take place in September

Federal Reserve's Kashkari: Still expecting two rate cuts in 2025, with the first cut possibly occurring in September.

▌Jahang Bank: The Bank of England may lower interest rates by 75 basis points before the end of the year

Royal Bank of Canada Wealth Management stated in its mid-year outlook report for 2025 that the Bank of England may cut interest rates by a total of 75 basis points before the end of 2025, as UK inflation may decline further. UK labor market data seems to be weakening, which increases the likelihood of more rate cuts by the Bank of England. However, persistently high inflation and accelerating wage growth may delay rate cuts, which is also a risk.

▌U.S. stock index futures expanded gains to intraday highs, and Bessenet said the trade situation has eased

U.S. stock index futures extended gains to intraday highs, with Treasury Secretary Basent stating that trade tensions have eased.