ChainCatcher news, according to The Block, the Bank for International Settlements (BIS) stated in a report released on Tuesday that stablecoins do not qualify as money. The institution, known as the "central bank of central banks," pointed out in the report that digital assets pegged to fiat currencies failed to meet the "three key tests" required to constitute the core of a monetary system: singleness, elasticity, and integrity.The authors of the report wrote in this annual publication, "It remains to be seen what role stablecoins will play in the future monetary system." The report focuses on the next generation of financial systems. "However, stablecoins perform poorly in the three core characteristics necessary for building a sound monetary system, and therefore cannot serve as a pillar of the future monetary system." Nevertheless, the report also acknowledges that stablecoins have certain advantages, such as programmability, pseudonymity, and providing convenient access for new users.Additionally, from a technical perspective, they have the potential to offer lower costs and faster transaction speeds in cross-border payments. However, the authors also pointed out that compared to currencies issued by central banks and instruments issued by commercial banks and other private entities, stablecoins may pose systemic risks, such as undermining government monetary sovereignty (sometimes achieved through "implicit dollarization") and facilitating illegal activities. Although stablecoins play a clear role as channels for funds in and out of the crypto ecosystem and are widely used in countries with high inflation, strict capital controls, or limited access to dollar accounts, the BIS stated that these assets should not be viewed as "cash."

According to ChainCatcher news, SunPump will focus on whether TRX can become the top representative of "bull market value coins" and will hold an online seminar on June 24 at 8 PM.Currently, TRON has developed into a DeFi ecosystem giant with over 300 million users and a TVL ranking among the top three globally. It has built a complete ecosystem through the USDD stablecoin and core protocols like JustLend DAO and SunSwap. Coupled with the recent listing expectations released by founder Justin Sun, TRX is entering a critical window for value reassessment. This seminar will deeply analyze the development history of TRON and discuss the investment value and growth potential of TRX in a bull market.The seminar will be broadcast live via Twitter Space. Users can follow the official accounts @sunpumpmeme and @Agent_SunGenX, retweet the event post, and @ three friends to participate in an interactive lottery to win a reward of 10 USDT.

ChainCatcher news, after the GENIUS Act was passed in the U.S. Senate this week, stablecoins could become an important source of funding for the U.S. government, and may even serve as a new tool for U.S. Treasury Secretary Yellen to address the country's deficit. Yellen has previously praised the GENIUS Act and stated that a regulated and evolving stablecoin market could create new buyers for U.S. government debt, boosting private sector demand for U.S. Treasury bonds. In May, Yellen had indicated to the U.S. House Financial Services Committee that some speculate the stablecoin market's demand for U.S. government securities could reach as high as $2 trillion in the coming years.However, analysts believe that the stablecoin industry is unlikely to fully resolve the U.S. government's debt financing issues and may introduce additional risks, as the extra demand for stablecoins will take time to develop, while the U.S. Treasury needs to issue a large amount of debt securities within a year. If problems arise that prevent the Federal Reserve from lowering interest rates, the U.S. deficit could spiral out of control.

According to ChainCatcher news, the Hong Kong government press release states that the Financial Secretary of Hong Kong, Paul Chan, said today at an event: "As of the end of March this year, the number of registered funds in Hong Kong reached 976, with a net inflow of over 44 billion USD recorded year-on-year, an increase of 285%. Family offices are expected to increase from 2,700 to 3,000 soon, and Hong Kong will become the world's leading cross-border asset management center within two to three years.In terms of financial innovation, there has been a strong market interest in digital assets recently, particularly the issuance of stablecoins, which has sparked heated discussions. The legislative work on stablecoins has made Hong Kong one of the first jurisdictions in the world to establish a regulatory framework for stablecoins. We embrace the development of digital assets and have accelerated the improvement of the relevant legal regulatory framework in recent years, such as the licensing system for virtual asset trading platforms, having issued 10 licenses and currently reviewing another eight applications."

ChainCatcher message, Degen posted on platform X stating that if developers are developing mini-programs for Farcaster, they will find that DEGEN has become the default token. This choice was made because DEGEN is more appealing to community users compared to USDC or WETH.In addition, Degen also disclosed that last year it airdropped DEGEN tokens worth over 100 million dollars to Farcaster users and will continue to expand support in the future.

ChainCatcher news reports that, according to Ember monitoring, Trend Research under LD Capital not only holds 173,000 ETH but also controls 64.25% of the total supply of the meme coin NEIRO.In response, LD Capital founder JackYi stated, "The secondary market has only bought and not sold with real money. It was purely because MEME was hot at the time. I hoped to buy at a low market value, and the more I bought, the more it became a coin east. I think buying in the secondary market with real money isn't a dark thing, right? This project has existed for a long time."

ChainCatcher News, Simon Gerovich, CEO of the Japanese listed company Metaplanet, stated in a post that the investment management company Capital Group has now become the second largest shareholder of Metaplanet, with a stake valued at nearly $500 million.It is reported that Capital Group was previously the second largest shareholder of Strategy.

ChainCatcher news, according to the Daily Economic News, Animoca Brands plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecom to prepare for the issuance of a stablecoin pegged to the Hong Kong dollar.The president of Animoca Brands stated in an interview that the stablecoin will be widely used in scenarios such as virtual asset transactions within the gaming ecosystem, cross-border trade, and financial settlements, which will help mainland asset transactions go international. He believes that Hong Kong needs to continue to strengthen its efforts in stablecoin regulation to promote the development of the digital asset and asset tokenization industry. Animoca Brands hopes to collaborate with mainland institutions on blockchain applications.

ChainCatcher news, L1 blockchain Kaia tweeted that it has become an official member of the Japan Blockchain Association. The official statement indicates that it is currently expanding actual adoption through LINE mini DApps on the Dapp Portal.

ChainCatcher news, Consensys CEO and Ethereum co-founder Joseph Lubin stated: "Ethereum Layer 1 will become the global main ledger. It allows anyone to view, use, and add data or functionality without permission, possessing trusted neutrality and resistance to censorship. It features tamper-proof and verifiable tampering characteristics (achieved through a confiscation mechanism and transparency), and continuously advances its decentralization process. It has a top-tier large community that remains highly vigilant, as there will always be patient and well-resourced participants attempting to undermine the system.Fortunately, as Ethereum develops and matures, the difficulty of undermining the system will increase."

ChainCatcher news, Trump stated in a post on his social media platform that the Senate has passed the "GENIUS Act," which will promote large-scale investment and innovation in the digital asset sector in the United States, urging the House of Representatives to quickly pass the "clean version" and submit it to the President for signing as soon as possible.

ChainCatcher news, brokerage firm Canaccord stated in a research report on Wednesday that due to regulatory uncertainties, the broader outlook for stablecoins (cryptocurrencies pegged to other assets) has so far been difficult to achieve. However, the passage of the GENIUS Act by the U.S. Senate has changed everything.The full name of the act is the "Guidance and Establishment of a National Stablecoin Innovation Act," aimed at bringing stablecoin innovation back to the United States. Reports indicate that winning support in the Senate is much harder than in the House of Representatives. Given that the bill has bipartisan support, U.S. stablecoin legislation is now within reach.Analysts suggest that the prospects for stablecoins beyond crypto trading pairs may soon emerge, as compliant stablecoins are effectively viewed by the U.S. government as equivalent to cash. Given the need for full backing, compliant stablecoins could become a significant source of demand for short-term U.S. Treasury securities. As the use of stablecoins that meet GENIUS standards expands cross-border, they may become a driving force for the dollarization of the global economy.

ChainCatcher news, according to Cointelegraph, Spain's second-largest bank BBVA has advised its high-net-worth clients to allocate a portion of their investment portfolios to crypto assets. BBVA recommends that high-net-worth clients allocate 3% to 7% of their portfolios to cryptocurrencies and Bitcoin (BTC) based on their risk tolerance.Philippe Meyer, head of digital and blockchain solutions at BBVA's Swiss branch, stated at a conference in London: "Since September last year, we have started providing Bitcoin investment advice to private clients." He added that for clients with a higher risk appetite, the recommended allocation has increased.Meyer noted that clients have responded positively to the bank's advice and do not perceive the risks of crypto assets as excessive. "If you look at a balanced investment portfolio, just adding 3% can already enhance overall returns. Allocating 3% does not constitute taking on a significant risk."

ChainCatcher news, according to The Block, the Web3 AI data infrastructure platform PublicAI has completed a $8 million Series A funding round, with investors including Saudi Telecom Group, Blockchain Builders Fund, Tykhe Blocks Ventures, NEAR Foundation, Taisu Ventures, MH Ventures, YGG, CSP DAO, IBC Group, G20, Whitewater Labs, and UXLink. Previously, it had secured an initial funding of $2 million from IOBC Capital, Foresight Ventures, and the Solana Foundation.PublicAI will launch the world's first decentralized brainwave data collection device, HeadCap, to promote the development of the next generation of brain-computer interfaces (BCI).

ChainCatcher news, according to The Block, the Web3 AI data infrastructure platform PublicAI has completed a $8 million Series A funding round, with investors including Saudi Telecom Group, Blockchain Builders Fund, Tykhe Blocks Ventures, NEAR Foundation, Taisu Ventures, MH Ventures, YGG, CSP DAO, IBC Group, G20, Whitewater Labs, and UXLink. Previously, it secured an initial funding of $2 million from IOBC Capital, Foresight Ventures, and the Solana Foundation.PublicAI will launch the world's first decentralized brainwave data collection device, HeadCap, to promote the development of the next generation of brain-computer interfaces (BCI).

ChainCatcher news, according to CNBC, Canopy Capital founder and CEO Eric Golden discussed the current state of cryptocurrency, Bitcoin price trends, the future of stablecoins, and more during his appearance on CNBC's financial program "Squawk Box."He stated that stablecoins will become the primary transaction mechanism for all payments.