Wu Shuo's Daily Selection of Crypto News + Weekly Hot Project Updates

1. GF Securities (Hong Kong) Issues First Credit-Based Daily Redeemable Tokenized Securities

GF Securities (Hong Kong) has connected to HashKey Chain, an Ethereum Layer 2 public chain launched by HashKey Group, and issued the first daily redeemable tokenized security, "GF Token." This product supports three currencies: USD, HKD, and offshore RMB, with on-chain recording and daily interest accrual. The HKD and offshore RMB versions correspond to annualized interest rates of 3.01% and 1.90%, respectively, with subscription starting points of 800,000.00 HKD and 700,000.00 RMB.

2. Vitalik: World Digital Identity Project May Stifle Online Pseudonymity

Ethereum co-founder Vitalik Buterin warned that the digital identity project World, backed by Sam Altman, may threaten online pseudonymity. Vitalik stated that although World uses zero-knowledge proof technology to protect privacy, its "one ID per person" design may lead to all user activities being tied to a public identity, weakening anonymity protection. He suggested adopting a "diversified identity model" to avoid a single institution controlling the identity system.

3. South Korean Stock Market Surges Due to KRW Stablecoin Policy, Becoming Asia's Strongest Market in the First Half of 2025

South Korean President Lee Jae-myung's support for the KRW stablecoin policy has triggered market frenzy, with stocks related to KRW stablecoins becoming highly popular. Kakao Pay's stock price doubled, LG CNS rose nearly 70%, Aton on Kosdaq rose 80%, and ME2ON's stock price tripled. The Kospi index has risen nearly 30% this year, approaching a four-year high, making South Korea the strongest performing market in Asia in the first half of 2025. The high market sentiment stems from the government's plan to allow companies with capital of only 50.00 billion KRW to issue KRW stablecoins and the nomination of crypto-friendly Kim Yong-beom as chief policy advisor.

4. Hong Kong Financial Secretary: Stablecoins Have the Potential to Transform Payments and Capital Market Activities

Hong Kong Special Administrative Region Financial Secretary Paul Chan Mo-po stated in an article that stablecoins provide a cost-effective alternative outside the traditional financial system and have the potential to transform payments and capital market activities, including cross-border payments. The stablecoin legislation will take effect on August 1, and the SAR government and financial regulators will strive to create a favorable market environment, coupled with necessary regulatory measures, to promote issuers to apply stablecoins to different scenarios and help solve the practical pain points of businesses and citizens.

5. Coinbase Team: Account Restrictions Reduced by Over 80%, with Approximately 20% Improvement in Related Fraud Models

Dor, Head of Product at Coinbase, shared a case of user misjudgment: Under multiple risk signals (including 2FA failure, abnormal logins from 4 countries, and the largest withdrawal request in the account's history), Coinbase froze the transaction and attempted to contact the user. After 90 minutes of no response, the transfer was intercepted and the account was restricted. It was ultimately discovered that the transaction was a genuine request, and the user was dissatisfied due to the account recovery process. Dor stated that although this was a "successful anti-fraud operation," it caused frustration to the user experience. The Coinbase team has reduced account restrictions by over 80% and achieved approximately a 20% improvement in related fraud models, and will continue to optimize the anti-fraud experience in the future.

6. Weekly Hot Project Updates: Pump Fun Launches 2.0, Animoca Launches Moca Chain, zklend Announces Closure of Operations, etc. (0622–0628)

1. Grayscale Updates Q3 Top 20, Adds AVAX and MORPHO, Removes LDO and OP link

Grayscale Research updated its Top 20 asset list for the third quarter of 2025. This quarter, Avalanche (AVAX) and Morpho (MORPHO) were added due to increased on-chain transaction activity and strong growth in decentralized lending, respectively. Lido DAO (LDO) and Optimism (OP) were removed due to competitive pressure from centralized staking services and uncertainty in token revenue distribution.

2. Aptos Announces Its On-Chain Real World Asset (RWA) Scale Exceeds $5.4 Billion link

Aptos officially announced that its on-chain real-world asset (RWA) scale has exceeded $5.4 billion, entering the top three public chains in the RWA field. Aptos stated that the current ecosystem is receiving support from multiple projects, including Shelby, Aave, Bitwise, and WYST.

Aptos TVL has grown significantly from its low point last summer, climbing to a new all-time high of over $1.3 billion, which is attributed to the increase in stablecoin flow and coordinated liquidity incentives in Aptos's leading protocols; Aptos's block time has steadily improved, decreasing from 220 ms to less than 125 ms, reducing latency by approximately 45%, making it the fastest L1 measured by block time; Aptos DEX trading volume hit an all-time high in May, with native protocols such as Hyperion, Thala, and LiquidSwap exceeding $2.9 billion in monthly trading volume.

3. Arbitrum's Protocol Revenue Reached $1.43 Million Last Week, Ostium Grew by 120% link

The Arbitrum protocol generated $1.43 million in revenue last week, a 23% increase compared to the previous week, of which GMX accounted for $550,000.00, Ostium for $225,000.00, Gains Network for $120,000.00, Pendle for $85,000.00, and Uniswap for $82,000.00. It is worth mentioning that Ostium's revenue surged by 120% last week, possibly benefiting from Arbitrum RWA reaching a historical high of $300.00 million.

4. Decentralized Prover Network Succinct Announces Launch of Stage 2.5 link

The decentralized prover network Succinct announced the launch of Stage 2.5, marking the final stage of its Prover Network testnet, introducing top zero-knowledge proof hardware teams to build the world's largest proof cluster. Stage 2.5 implements competitive auctions, Sybil resistance staking, and a high-throughput settlement layer, supporting anyone to run proof nodes. The testnet will airdrop PROVE tokens to incentivize community staking and prepare for the mainnet launch.

5. Pump Fun Launches Version 2.0, Featuring Hotspot Tracking and One-Click Buy Function link

Pump Fun announced the launch of version 2.0, adding mobile-adapted hotspot coin dynamics (movers feed), a one-click buy (tap-to-ape) function, and a news section showcasing popular coins. The application is now available on iOS and Android platforms but is not open to users in the UK.

6. Ethena Launches Terminal Liquidity Hub, sENA Holders Will Receive Additional Rewards link

Ethena Labs stated that Terminal is building a liquidity hub centered around sUSDe and institutional assets and has launched an early deposit program supporting USDe, WBTC, and ETH deposits. sENA holders will begin accumulating Terminal rewards, which may be linked to future airdrops. In addition, Terminal points will be added to the sENA page as one of the reward categories jointly composed with Ethena and other protocols.

7. Sky Approves $1 Billion Allocation for Janus Henderson's On-Chain Strategy Fund link

The decentralized lending platform Sky announced the approval of a $1 billion allocation to the on-chain AAA-rated CLO strategy fund launched by Janus Henderson in partnership with Centrifuge. The fund will utilize Grove's decentralized infrastructure. Grove, developed by Grove Labs, is a non-custodial protocol designed to optimize capital flow between crypto and traditional financial platforms and is affiliated with Steakhouse Financial, a DeFi-focused financial advisory firm.

8. zklend Announces Closure of Operations, Will Use Remaining $200,000.00 for User Compensation link

zkLend announced the official closure of its operations, with the remaining $200,000.00 in funds to be used for a user recovery fund. The team stated that the previous attack event led to a decline in user confidence, coupled with the delisting of the ZEND token from exchanges such as Bybit and KuCoin, resulting in limited liquidity and making it impossible to continue development. zkLend will retain DeFi Spring, recovery, and kSTRK portals for users to use and will continue to entrust third parties to track stolen assets. At the same time, zkLend will open source the updated code base in the coming weeks. zkLend previously received $5.00 million in financing in March 2022, led by Delphi Digital with participation from StarkWare.

9. Humanity Protocol Founder Responds to "Domestic Project Reskinning" and Privacy Controversies link

Terence Kwok, founder of Humanity Protocol, responded to the June 23rd report on "domestic project reskinning" and palm print privacy controversies. Kwok stated that the old version of the App (v1.0.2) mistakenly packaged image resources remaining from the testing phase, which were not called and did not affect functionality. The relevant files have been deleted and updates have been pushed, and there are no security issues. The mentioned "掌腾信息" (Zhang Teng Information) is an early technology partner that has served UnionPay and Shanghai Metro. Kwok emphasized that Humanity does not collect original palm prints or identifiable information, and all biometric data is converted into private signatures locally, using end-to-end encryption, and the data is not stored in China. The project is operated globally, values privacy, and welcomes media verification and communication.

10. Moca Foundation Announces Launch of Layer 1 Chain Moca Chain for Identity and User Data link

Animoca's Moca Foundation announced the launch of Layer 1 blockchain Moca Chain for identity and user data, supporting users, devices, and AI entities to conduct privacy-protected data verification and management without the need for a centralized platform. Moca Chain will serve as a modular, EVM-compatible public chain, integrating decentralized storage, cross-chain identity oracles, and zkTLS technology. It is planned to launch the testnet in Q3 2025 and the mainnet in Q4, and use MOCA Coin as fuel and data verification token.