Exclusive: Pumpfun Token Auction and Launch Delayed Again
Powered by ChatGPT1. Exclusive: Pumpfun Token Auction and Listing Delayed Again
The Pumpfun token auction and listing event, originally scheduled for the end of June, has been postponed again and is now expected around mid-July. Insiders revealed that since Pumpfun planned to issue and auction tokens at the end of last year, the event has been "postponed countless times." The valuation for this token auction is 4 billion USD. The Pumpfun team is actively pitching token allocations to various funds.
2. Visa Announces Expansion of Stablecoin Business in Central and Eastern Europe, Middle East, and Africa
Visa announced the expansion of its stablecoin business footprint covering the Central and Eastern Europe, Middle East, and Africa (CEMEA) region, and has formed a strategic partnership with African crypto exchange Yellow Card to explore cross-border payments, fund management, and liquidity optimization solutions. Visa was the first in 2023 to support transactions settled using USDC and has completed over 225 million USD in stablecoin settlements through participating clients.
3. QCP: Crypto Market in a Wait-and-See Mode, Derivatives Indicate Continued Downside Hedging Demand
QCP Capital points out that the crypto market is currently in a wait-and-see state; despite rising geopolitical risks in the Middle East, BTC prices remain range-bound. The derivatives market shows more cautious sentiment, with risk reversals for BTC and ETH continuing to favor downside protection, indicating investors are hedging against potential pullbacks. ETH's at-the-money implied volatility for June is lower than that for September, with short-term event-driven risk premiums declining. The market is like a compressed spring, awaiting the next macro or geopolitical event to trigger volatility.
4. Animoca Brands Plans JV with Standard Chartered Bank and Hong Kong Telecom to Issue HKD-Pegged Stablecoin
Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecom to prepare the issuance of a stablecoin pegged to the Hong Kong dollar. Animoca Brands President Qu Jun Ouyang stated that the stablecoin will be widely used for virtual asset trading within gaming ecosystems, cross-border trade, and financial settlements, facilitating the internationalization of mainland asset trading. Animoca Brands hopes to collaborate with mainland institutions on blockchain applications.
5. South Korea Submits Roadmap for Spot Crypto ETF Approval, Plans Implementation in Second Half of 2025
The South Korean Financial Services Commission (FSC) has submitted a local spot crypto ETF approval roadmap to the Presidential Policy Planning Committee, planning to develop and implement the plan in the second half of 2025. This move is part of the new President Lee Jae-myung's campaign promises, aiming to lift the local ban on issuing and trading crypto ETFs. Additionally, the roadmap includes preparations to relax regulations on KRW-based stablecoins in the second half of 2025. Lee previously stated the need to establish a KRW stablecoin market to prevent capital outflows.