The Near community proposed a "proposal to improve NEAR token economics by reducing inflation", aiming to lower the maximum inflation rate from 5% to 2.5%, while retaining flexibility for future adjustments. If transaction fees are burned at around 0.1%, the actual inflation rate will drop to 2.4%, and reducing staking rewards may encourage token holders to participate in DeFi. The proposal points out that NEAR's current 5% fixed annual inflation rate leads to increased circulating tokens, dilution of equity, and token devaluation due to few transaction fee burns. However, the proposal currently has only 7.42% support, with 36 days and 22 hours remaining until voting closes. Some opponents argue that reducing validator incentives by 50% would make validator nodes unprofitable, potentially reducing the number of validators and stakers, and they do not believe there is a strong correlation between inflation rate and price performance.
According to Cointelegraph, the US Senate Banking Committee released cryptocurrency market structure principles signed by key Republican senators including Tim Scott, Lummis, Hagerty, and Tillis. The document outlines the framework for the draft bill. Earlier today, many senators were absent from the "bipartisan" cryptocurrency market structure hearing.
"ETH 100% Win Rate Whale" Again Adds ETH Short Position, Currently Valued at $122 Million
According to on-chain analyst Yujin's monitoring, the "ETH 100% win rate whale" added 10,000 ETH short positions at $2,452 after today's rebound. He now holds 50,000 ETH short positions, valued at $122 million. The 40,000 ETH short positions he opened on 6/11 were profitable by over $20 million when ETH dropped to $2,200 in the past two days, but he did not close the position. Instead, he added 10,000 more ETH short positions at $2,452 after the ETH rebound. Currently, his position is: 10x short 50,000 ETH, valued at $122 million, with an entry price of $2,725, liquidation price of $2,828, and currently showing a profit of $13.71 million.
(Translation continues in the same manner for the remaining paragraphs)According to the official WeChat account of Guotai Junheng International, Guotai Junheng International Holdings Limited has been formally approved by the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services and offer related advice to clients. After this license upgrade, customers can directly trade cryptocurrencies such as Bitcoin and ETH, as well as stablecoins on their platform. Guotai Junheng International has become the first Chinese-funded securities firm in Hong Kong to provide comprehensive virtual asset trading services, covering virtual asset trading, product issuance and distribution, and related advisory services.
Federal Reserve Chairman Powell: Legislation on Stablecoins is Progressing, Which is Exciting
According to Jinshi News, Federal Reserve Chairman Powell stated that they are just suggesting everyone wait a bit longer and look for more signs. Currently, no signs of weakness in the labor market are seen. If we observe weakness in the labor market, we will take measures to adjust. As long as the economy remains strong, we can pause here. When the time is right, rate cuts are expected to continue. This will depend on economic factors in the coming months. Powell said that their current interest rate level is high, providing more room for rate cuts compared to when rates were near zero. Federal Reserve Chairman Powell also stated that legislation on stablecoins is progressing, which is exciting.
Powell: Banks Can Provide Banking Services to the Cryptocurrency Industry
Federal Reserve Chairman Powell: Banks can provide banking services to the cryptocurrency industry and conduct related business, provided that the safety and stability of the financial system are ensured.
Federal Reserve Chairman Powell: The reason we are not cutting rates now is that both internal and external economic forecasts predict significant inflation this year. Powell stated in his congressional testimony that the future interest rate path could be varied. Inflation might not be as strong as expected, in which case early rate cuts would be recommended; if the labor market weakens, early rate cuts are also suggested, but if inflation and labor market performance are strong, rate cuts might be delayed.
ProCap Purchases 3,724 Bitcoins for $387 Million
According to GNW, ProCap under Pomp Investments purchased 3,724 Bitcoins at $103,780 each, totaling $386.5 million.
Binance to Launch 25th HODLer Airdrop Project: Sahara AI (SAHARA)
According to Binance's announcement, Binance is launching the 25th HODLer airdrop project - Sahara AI (SAHARA), an AI-native blockchain platform. Users who subscribe BNB to Simple Earn or on-chain yield products between June 18, 2025, 00:00 to June 21, 2025, 23:59 (UTC) will be eligible for SAHARA airdrop rewards. SAHARA will open trading on Binance spot market on June 26, 2025, at 12:00 (UTC), supporting USDT, USDC, BNB, FDUSD, and TRY trading pairs. This airdrop will distribute a total of 125 million SAHARA tokens, approximately 1.25% of the total supply.
(Translation continues in the same manner for the remaining paragraphs)According to Jinshi News, Federal Reserve Chairman Powell stated that long-term inflation expectations remain consistent with the 2% target, and while inflation has significantly eased, it remains above the target level. He noted that tariffs might drive up prices and put pressure on the economy, with the ultimate impact depending on the tariff level. Powell emphasized that the Federal Reserve is currently in a favorable position to wait for more data before considering interest rate adjustments, while acknowledging the uncertainty of policy adjustments on the economy.
Michael Saylor: Strategy's Bitcoin Earnings Reach $9 Billion This Year
Michael Saylor tweeted that Strategy ($MSTR) has earned 85,871 Bitcoins this year, which is worth approximately $9 billion at current prices.
Investment Bank Jefferies: Bitcoin Mining Revenue Increased by Nearly 20% in May
According to CoinDesk, investment bank Jefferies stated that Bitcoin mining revenue increased by 18.2% month-on-month in May, driven by a 20% increase in Bitcoin price and a slight 3.5% growth in network hash rate. The report shows that North American miners' network hash rate proportion increased from 24.1% in April to 26.3% in May, with MARA Holdings mining the most at 950 Bitcoins, a 35% increase from the previous month.
Binance: NEWT Airdrop Alpha Points Requirements Are 241 and 180 Points
According to Binance, Newton Protocol (NEWT) will start trading on Binance Alpha on June 24 at 21:00 (Beijing time). Eligible users can claim 125 NEWT airdrops using Alpha points through the Alpha Events page within 24 hours after trading opens. The airdrop will be conducted in two stages: the first stage (first 18 hours) requires 241 points, and the second stage (last 6 hours) requires 180 points, on a first-come, first-served basis. Each claim will consume 15 points, and users must confirm within 24 hours, otherwise, it will be considered forfeited.
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