1. U.S. Senate Passes the GENIUS Act, First Stablecoin Regulatory Legislation Moves to House Review

On June 17, the U.S. Senate passed the GENIUS Act with a vote of 51 to 23. This important crypto legislation establishes a federal regulatory framework for stablecoins. The Act requires stablecoins to be fully backed by U.S. dollars or equivalent liquid assets. Issuers with a market capitalization exceeding 50 billion USD must undergo annual audits. It also stipulates priority repayment terms in cases of foreign issuance and bankruptcy. The next step is submission to the House of Representatives, which must decide whether to advance its own version called the "Stablecoin Transparency and Accountability for a Better Ledger Economy Act" or adopt the Senate-passed GENIUS Act.

2. ZachXBT: "Black U" Market on Tron Chain Estimated to Be No Less Than 5-10 Billion USD

On-chain investigator ZachXBT reported that funds from several recent attacks related to the Lazarus Group (including Bybit, DMM Bitcoin, WazirX, etc.) have been successfully laundered by money laundering gangs and small OTC brokers. The estimated size of the "Black U" market on the Tron chain is no less than 5-10 billion USD, with most funds being untraceable. ZachXBT criticized certain protocols for continuing to charge fees despite knowing that over 50% of transaction volume originates from stolen funds, showing inaction. Issues such as influencer scams going unpunished and courts favoring attackers in smart contract attack cases under outdated legal frameworks further weaken industry governance.

3. Iranian Exchange Nobitex Hit by Suspected Israeli Hacker Attack, Losses May Reach 90 Million USD

Iranian crypto exchange Nobitex was attacked by the hacker group Gonjeshke Darande, believed to be linked to Israel, resulting in losses possibly reaching 90 million USD. The hacker group threatened to release its source code and internal information within 24 hours, warning users to transfer assets promptly. Nobitex has shut down its website and app, promising to compensate users’ losses through insurance funds and its own capital. Additionally, Elliptic stated that the attack was not economically motivated, with relevant funds sent to a Vanity Address, effectively destroying the tokens.

4. Liu Peng, CEO of JD Coin Chain: JD Global Sales Hong Kong and Macau Platform Will Support Stablecoin Settlements

Liu Peng, CEO of JD Coin Chain Technology under JD Technology, recently told Bloomberg that they are testing compliant stablecoins pegged to the Hong Kong dollar and other currencies within the Hong Kong Monetary Authority's "sandbox". The plan is to launch as early as Q4 this year, initially applying it to settlement scenarios on JD Global Sales’ Hong Kong and Macau sites. Liu noted that JD’s stablecoins will focus on traditional cross-border trade markets, connecting real payment demands across Asia-Pacific, the Middle East, and Africa with compliance, security, and auditability advantages, rather than competing within crypto-native scenarios.

5. Danzhou Prosecutor's Office Cracks Down on "3% Daily Return Crypto Trading" Scam, Illegally Raised 10 Million RMB, Three Sentenced

According to the Danzhou City Prosecutor’s Office, a criminal gang used the lure of "3% daily returns from contract crypto trading" to illegally raise over 10 million RMB from the public through online promotions and offline company registrations, attracting 32 investors. The scheme collapsed due to the continual depreciation of the virtual currency, causing a funding chain break. Three defendants were sentenced to imprisonment and fined for the crime of illegally absorbing public deposits.