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Gate, as the exclusive platform supporting Korean stock trading services, continues to enrich its global stock asset layout. On June 25, the Korean stock semiconductor sector maintained a strong performance, and market trading enthusiasm continued to heat up. According to the latest data from the Gate platform, the semiconductor leader SK Hynix reached a high of $1914.2 and a low of $1626.2 during the day, currently reported at $1873.2, with a daily increase of 8.65%. According to CoinGlass data, the Gate SK Hynix (SKHYNIX) contract position exceeds $34.4749 million, with a 24-hour increase of over 154.15%, ranking among the top two in the industry.In addition, Gate officially launched a semiconductor stock welfare activity from June 23, 17:00 to July 1, 00:00 (UTC+8): users who purchase Gate stocks will have the chance to share a prize pool of fractional shares of SK Hynix worth 3,400 USDT, and new users completing their first order can receive up to 2 shares of SK Hynix.

Uniswap announced on Wednesday the addition of a no-code token auction tool in its web application, allowing any team to configure and launch on-chain token sales directly through the browser without writing code. This tool operates based on Uniswap's Continuous Clearing Auction (CCA) mechanism, where bids accumulate over multiple blocks and settle at a uniform clearing price each time.Bidders set a total budget and a maximum price per token, with everyone paying the same final clearing price. Since the auction spans a time distribution rather than being completed in a single block, it eliminates the speed advantage of bots and last-minute sniping. After the auction ends, liquidity is directly injected into the Uniswap pool, achieving an integrated process for price discovery and trading pair guidance.Previously, Aztec raised $59 million through CCA from 17,000 bidders across 191 countries, with the clearing price exceeding the reserve price by 60%; Cap Labs' auction attracted 1,002 independent bids, with a 5.5 times oversubscription, and a clearing FDV of $106 million.

Aptos Foundation announced that it has become one of the founding contributors to the Legal Context Protocol (LCP). LCP was initiated by ADR and launched in collaboration with organizations such as Google and Circle, aiming to provide verifiable legal terms, user authorizations, and dispute resolution standards for AI Agent autonomous trading scenarios, in order to enhance compliance and enforceability in the AI agent economy.

According to SoSoValue data, the cryptocurrency market has fallen for three consecutive days, with the Meme sector dropping significantly by 13.75% in the last 24 hours. Among them, MemeCore (M) fell by 67.51%, and Pump.fun (PUMP) dropped by 10.9%; the NFT sector decreased by 9.99%, with Audiera (BEAT), which surged yesterday, falling by 22.63%. Meanwhile, Bitcoin (BTC) dropped by 3.36%, briefly falling below $60,000; Ethereum (ETH) decreased by 3.35%, dropping to around $1,600.In other sectors, the CeFi sector fell by 2.33% in the last 24 hours, with NEXO (NEXO) down by 3.59%; the PayFi sector decreased by 3.18%, with Dash (DASH) down by 7.82%; the Layer1 sector fell by 3.07%, but Gram (GRAM) rose by 1.46%; the Layer2 sector decreased by 3.46%, but Optimism (OP) increased by 3.83%. Additionally, the DeFi sector performed well, rising by 1.69%, with Hyperliquid (HYPE) up by 2.04%, o1.exchange (O) up by 35.42%, and LAB (LAB) up by 19.6%.

According to Cryptopolitan, the prediction market platform Kalshi has filed a lawsuit in the U.S. District Court for the Northern District of Illinois, challenging the newly signed SB3019 bill in the state. The bill requires prediction market platforms to obtain state-level licenses and imposes a 0.2% tax on digital asset transactions involving Illinois customers, set to take effect on July 1. Kalshi argues that federal law grants the CFTC exclusive jurisdiction over exchange-traded derivatives, and that additional state regulatory requirements conflict with the Commodity Exchange Act.If Kalshi withdraws sports event contracts from Illinois to comply with state law, it would directly violate the CFTC's uniformity requirement; if it continues to operate without a license, it would violate state law, and implementing geographic blocking technology would be costly. This lawsuit is the latest case in the dispute over prediction market jurisdiction between the CFTC and various states, with the CFTC having sued nine states to assert federal authority.

According to The Block, Bitcoin miner revenue continues to decline, with the 7-day moving average dropping to about $30,000,000 per day, down from over $50,000,000 last summer. The contribution from transaction fees has become negligible, at less than $250,000 per day. The current trading price of BTC is about $62,500, significantly lower than JPMorgan's estimated production cost of around $78,000, a gap that has persisted for five months, the longest in this cycle. Production costs have historically been seen as a soft price floor, and currently, about 20% of miners are operating at a loss.Network-level pressure is becoming evident. Over the past six months, the beta value of mining difficulty relative to BTC price has risen to 0.62, with high-cost miners switching off their machines based on price fluctuations rather than continuing to operate at a loss. In the second week of June, difficulty decreased by 10%, marking the second similar adjustment this year. Publicly listed mining companies have sold over 32,000 BTC in the first quarter to cover operating costs, rather than further reducing production capacity.

Bitcoin miner revenue has continued to decline over the past year, with the current 7-day moving average daily income at approximately $30 million, significantly lower than last summer's level of over $50 million. Among this, transaction fees have dropped to less than $250,000 per day, almost negligible compared to block subsidies.Meanwhile, the price of Bitcoin is around $62,500, below JPMorgan's estimated production cost of about $78,000. This state of being below production costs has persisted for five months, the longest duration in this cycle. Historically, production costs are often seen as a soft bottom area for Bitcoin prices. Currently, it is estimated that about 20% of miners are in a loss position at the current price, and the pressure is beginning to reflect at the network level.Over the past six months, the sensitivity of mining difficulty to Bitcoin prices has risen to 0.62, indicating that high-cost miners are increasingly inclined to turn off their mining machines based on price fluctuations rather than continue mining at a loss. In the second week of June, Bitcoin mining difficulty decreased by 10%, marking the second occurrence of a similar magnitude adjustment this year. A comparable adjustment also occurred in the previous quarter, with both instances happening during periods when prices remained below production costs, indicating that pressure on the miner side is deepening.

On Wednesday, the U.S. House Financial Services Committee held a hearing to discuss the changing roles of banks and fintech companies, with one focus being the "streamlined master account" proposal that the Federal Reserve is considering, which would allow certain crypto banks and fintech companies limited direct access to the Federal Reserve's payment system. A Federal Reserve master account allows financial institutions to directly use the Federal Reserve payment network and gain the most direct access to the U.S. dollar monetary system. Institutions without this account typically need to rely on partner banks that have master accounts to provide services.The so-called "streamlined account" is a limited-function version intended to provide limited access for new financial institutions. Republican Congressman Dan Meuser stated at the hearing that access to the Federal Reserve payment system is no small matter, and the core issue is which institutions should be allowed to directly use these critical payment channels. Traditional institutions like community banks are concerned that crypto and fintech companies are not subject to equally stringent regulation, and direct access could pose risks to security and stability. The crypto industry generally supports the proposal, arguing that direct access to the Federal Reserve payment system should have been opened long ago, as it would help reduce reliance on intermediary banks and promote innovation.In May of this year, Trump also signed an executive order requiring the Federal Reserve to assess policies for opening central bank payment channels to fintech companies, including crypto companies. Previously, the Kansas City Federal Reserve had approved Kraken's parent company Payward for a "limited purpose account" in March, sparking discussions in the market about the extent to which crypto and fintech companies should have direct access to Federal Reserve services. A representative from Anchorage Digital stated at the hearing that if the U.S. wants to continue as a global financial center, it needs to allow for innovative federal and state regulatory frameworks.

According to Coinglass data, the total contract open interest for ETH has decreased by 5.27% in the past 24 hours, with the current total open interest at $22.582 billion. Among them, Binance's open interest is $5.399 billion, OKX's open interest is $1.485 billion, Bybit's open interest is $1.341 billion, and Gate's open interest is $1.914 billion.

According to monitoring by Catcher Predict, in the event "Dota 2: Yellow Submarine vs. Virtus.pro European Qualifiers" on the prediction market Polymarket, the "Yellow Submarine" option in the sub-market "First Kill of the Second Game" has experienced a dramatic fluctuation in win probability, soaring from 50% one hour ago to the current 90% (a fluctuation of 40%). Please note the impact of related breaking news.

According to CoinDesk, U.S. President Trump refused to sign a bipartisan housing bill that includes a four-year ban on the central bank digital currency (CBDC), temporarily canceling the scheduled signing ceremony and demanding that Congress first pass his proposed SAVE AMERICA ACT election bill.The CBDC provision in the housing bill would prohibit the Federal Reserve from issuing a digital dollar before the end of 2030, which was originally seen as an important advancement by the cryptocurrency industry.

According to Gate market data, the US stock market continues to rise, with the Dow Jones Industrial Average increasing by 1%.

According to the official announcement, Bitget has launched perpetual contracts for SONY (Sony Group) and MVLL (Maverick Technology 2x Long ETF). Both are settled in USDT and support up to 20x leverage.

According to official news, FameEX will launch the SAMSUNG/USDT perpetual contract on June 25, 2026, at 18:00 (UTC+8).

According to official news, FameEX will launch the AMD/USDT perpetual contract on June 25, 2026, at 18:00 (UTC+8).

According to official social media news, Huobi HTX will hold a themed debate titled "Bear Market Trap or Bull Market Start? How to Identify the June Rebound in the Crypto Market with World Cup Enthusiasm + Macroeconomic Warming" today at 20:00 (UTC+8). At that time, the affirmative debaters Crypto Monkey Uncle, Michill, Yang Shao, and Sincere Little Taoist will face off against the negative debaters George, 7w, Meta, and Mike Banana. They will conduct an in-depth discussion from multiple dimensions such as macroeconomics, capital flow, market cycles, and hot narratives, analyzing the driving logic and potential risks behind this round of market trends for investors.