6.26 AI Daily Hong Kong actively lays out Blockchain and digital assets The global Crypto Assets market experiences Fluctuation again.

1. Headlines

1. Hong Kong launches the "We.0 Innovation Sandbox" program to provide financial support for blockchain enterprises.

The Hong Kong SAR Government has announced the launch of the "We.0 Innovation Sandbox" program, aimed at providing funding support for blockchain and digital asset enterprises to test high-impact innovative solutions. The program will provide funding of up to 80% for eligible pilot projects, with a maximum grant of HKD 500,000 per project.

The program covers multiple areas, including RWA tokenization, stablecoins and payment solutions, decentralized identity, security, distributed AI/machine learning, and more. Enterprises need to have a sizable institution as their sponsor to demonstrate the commercial viability of their pilot projects. Applicants must be companies or research institutions that are registered and operating in Hong Kong.

Industry insiders believe that this plan will lay the foundation for Hong Kong to attract more blockchain innovation companies. With global regulations becoming increasingly clear, Hong Kong is expected to leverage its first-mover advantage to become an important hub for blockchain technology innovation and application. However, some analysts also point out that the government needs to create a favorable environment for industry development in areas such as regulation and talent cultivation.

2. Announced the delisting of 5 tokens, causing extreme fluctuations in coin prices.

On June 26, global cryptocurrency exchanges announced the delisting of five tokens, including ALPHA, BSW, KMD, LEVER, and LTO. Following the news, the prices of these tokens experienced significant fluctuations.

Among them, BSW initially dropped by 10% after the announcement, then rebounded by about 72%; KMD plummeted by 50%; LEVER first fell by 9%, then rose by 32%; LTO even dropped by as much as 40%. The ALPHA token initially decreased by 11%, then rose by over 50%.

The drastic fluctuations in token prices reflect the market's differing expectations regarding token delisting. Some investors choose to sell tokens for cash, while others see it as a buying opportunity. Industry insiders analyze that liquidity will be affected after the token is delisted, and investors need to assess the risks.

In addition, some analyses suggest that this move aims to optimize the exchange's token structure by eliminating tokens with lower trading volume and holdings. More tokens may face delisting risks in the future, and investors need to remain vigilant.

3. Sahara AI releases Agent Builder and AI Marketplace, starting a new phase of AI construction and assetization.

Sahara AI officially announced that its AI Agent Builder and AI Marketplace have officially entered the public testing phase. This is seen as an important signal for the implementation of the Sahara AI product matrix, sparking widespread attention in the industry towards its core ecosystem.

Agent Builder allows users to quickly build, deploy, and own their own AI agents starting from ideas without the need for coding or configuration. The simultaneously launched Sahara AI Marketplace is a curated aggregation platform for open-source models and datasets, where users can directly integrate the required assets into the building process without having to jump to GitHub or Hugging Face.

Analysts believe that the launch of Agent Builder and Marketplace marks the official entry of Sahara AI into a new stage of AI construction and assetization. In the future, users will not only be able to independently build AI agents but also monetize their assets through the Marketplace, achieving the circulation and appreciation of AI assets.

However, there are also viewpoints that point out that the security and controllability of AI agents remain a key concern in the industry. Sahara AI needs to strengthen AI governance while innovating technology to prevent the misuse of AI agents.

4. StormX has filed for Chapter 7 bankruptcy protection, as the cryptocurrency cashback platform is in trouble.

The cryptocurrency cashback platform StormX has announced that it has voluntarily filed for bankruptcy protection under Chapter 7 of the United States Bankruptcy Code. Creditors who believe they have a claim against StormX must submit proof of claim.

StormX was established in 2014 and completed a $50 million Series B funding round in 2021. However, the recent prolonged downturn in the cryptocurrency market, coupled with the failed merger with EarnM, has led to a financial crisis.

Industry insiders analyze that StormX chose Chapter 7 bankruptcy protection in hopes of restructuring its business under the supervision of creditors and ultimately repaying its debts. However, there are also opinions that StormX may struggle to get through this tough period and may ultimately be forced to liquidate its assets.

In addition, StormX's bankruptcy protection application has again raised industry concerns about the cryptocurrency rebate model. Analysts indicate that in a bear market environment, the business model of rebate platforms will face severe tests, and it may accelerate the reshuffling and clearing in the future.

5. The cryptocurrency protocol Resupply was attacked by hackers, resulting in a loss of approximately $9.5 million.

The decentralized stablecoin protocol Resupply has suffered a hacker attack, resulting in a loss of approximately $9.5 million. Resupply stated that only the wstUSR market was affected, and other parts of the protocol are still operating normally.

According to an analysis by a blockchain security company, hackers carried out this attack by manipulating exchange rates. Resupply has suspended the affected contracts and will release a complete incident report as soon as possible.

Cryptocurrency theft incidents occur from time to time, but this attack involved a large amount, once again drawing the industry's attention to the security of smart contracts. Analysts point out that although blockchain technology is becoming increasingly mature, vulnerabilities still exist, and developers need to strengthen security audits.

In addition, there are views that decentralized finance protocols, due to their complex design and larger attack surface, need to enhance their risk resistance capabilities. In the future, relevant regulatory policies may be accelerated to standardize the development of the DeFi industry.

2. Industry News

1. Bitcoin returns to the $107,000 mark, market sentiment is optimistic.

The price of Bitcoin broke through the $107,000 mark on June 26, up 2.77% from the previous day. This strong rebound was mainly driven by easing geopolitical tensions and improving investor sentiment.

Analysts point out that Bitcoin has shown remarkable resilience amidst geopolitical turmoil in the Middle East and substantial profit-taking, consistently remaining above the $106,000 threshold. This strong performance further highlights Bitcoin's value and risk resistance as digital gold.

Trading data shows that institutional investors are significantly buying Bitcoin, while retail investors are gradually exiting. This indicates that institutions' confidence in Bitcoin's long-term prospects is continuously increasing, while individual investors tend to prefer short-term profits.

Analysts believe that the Bitcoin bull market cycle is far from over, and there is still room for further increases in the future. However, they also warn that the MVRV ratio of Bitcoin shows signs of fatigue in the bull market, and investors should be cautious of potential pullback risks.

2. XRP breaks through $2.2, setting a new historical high.

The price of XRP broke through $2.2 on June 26, rising 42% from the previous day, setting a new all-time high. This strong increase was mainly driven by improved overall market sentiment.

Analysts say that XRP has strongly rebounded within a key support zone, benefiting from investor optimism about the cryptocurrency's prospects. Technical analysis indicates that XRP is likely to continue a significant bullish trend similar to that of 2021.

However, there are also analysts who are cautious about the upward momentum of XRP. They point out that the price trend of XRP shows lower highs and lower lows, indicating persistent bearish momentum. If the support level is broken, XRP may decline further.

Overall, although XRP's upward momentum is strong, there are still certain risks of a pullback. Investors need to closely monitor subsequent technical patterns and fundamental changes, and cautiously seize investment opportunities.

3. The Ethereum daily chart shows a key pattern, and volatility may increase.

A striking technical pattern is forming on the daily chart of Ethereum, which could trigger significant price fluctuations in the future.

Analysts point out that this pattern on the Ethereum daily chart reflects the growing uncertainty in the market, but at the same time lays the foundation for a significant rise or fall. If this pattern is confirmed, the price of Ethereum may experience increased volatility.

The trading data shows that the funding rate of Ethereum futures contracts remains at a high level, reflecting the market's optimistic sentiment towards Ethereum's future performance. Meanwhile, the weekly active users of Ethereum's USDC stablecoin have also reached a new high of 750,000, indicating a continuous increase in the activity level of the Ethereum ecosystem.

However, analysts also remind that Ethereum faces potential market correction risks. Investors need to closely monitor the evolution of technical patterns and prudently manage their risk exposure.

4. Are Altcoins Entering a Season of Explosive Growth? Analysts Optimistic About Their Prospects.

As Bitcoin and the S&P 500 index are expected to reach new highs within the year, analysts predict that the altcoin sector will experience a massive breakout season.

Analysts believe that altcoins are showing a trend of lower prices followed by higher prices, with tokens like SEI and Cardano leading the rise, reflecting investors' optimistic sentiment towards the prospects of altcoins. Meanwhile, popular sectors such as Bitcoin forks and zero-knowledge proofs have also seen good gains.

Exchange data shows that both the trading volume and open interest of altcoins have increased, indicating that investors are actively positioning themselves. Analysts suggest that investors can enter the market early, but they need to focus on projects with good fundamentals and better development prospects, while managing their risk exposure appropriately.

However, some analysts express concerns about the sustainability of altcoins. They believe that altcoins often lack practical application scenarios, have a higher risk of speculation, and investors need to remain cautious.

5. U.S. citizens may apply for a mortgage using cryptocurrency.

The Federal Housing Finance Agency in the United States has allowed cryptocurrencies to be considered as assets in mortgage applications, marking a growing acceptance of cryptocurrencies by the mainstream and their potential everyday utility for investors.

Analysts believe that this move will further promote the application of cryptocurrencies in traditional fields such as real estate, providing investors with more use cases. At the same time, it is also beneficial for the development of the cryptocurrency market, attracting more institutional and individual investors to participate.

However, some analysts have expressed concerns about this. They believe that the high volatility of cryptocurrencies could pose risks to mortgage loans, and that relevant regulatory authorities need to establish clear rules and guidelines to ensure market stability and protect investors' rights.

Overall, the entry of cryptocurrencies into the real estate market is an important milestone that reflects their increasing acceptance by the mainstream. However, it is also necessary to pay attention to potential risks and establish a comprehensive regulatory framework.

3. Project News

1. Sahara AI has launched the public beta of Agent Builder and AI Marketplace, marking a new phase in AI construction and assetization.

Sahara AI is a platform focused on building and capitalizing AI agents. Recently, the platform officially released the public testing version of Agent Builder and AI Marketplace, marking the entry of its product matrix into the implementation stage.

Agent Builder enables users to quickly build, deploy, and own their own AI agents from an idea without the need for coding and configuration. The concurrently launched Sahara AI Marketplace is a curated aggregation platform for open-source models and datasets, allowing users to directly integrate the required assets into the building process without jumping to GitHub or Hugging Face. The platform's trading features and monetization mechanisms will also be launched soon.

With the official announcement of $SAHARA going live on June 26, the open testing of Agent Builder and Marketplace is also seen as an important signal for the rollout of its product matrix, sparking widespread attention in the industry towards the core ecosystem of Sahara.

Sahara AI is committed to providing users with one-stop AI construction and assetization services, aiming to promote the large-scale application of AI agents. Its innovative product design and business model are expected to bring new development opportunities to the AI industry. Industry insiders generally believe that the rise of Sahara AI will accelerate the penetration of AI technology across various industries, injecting new vitality into the digital economy.

2. Zama completed a $57 million Series B financing, led jointly by Blockchange Ventures and Playground Global.

Zama is a cryptography company focused on fully homomorphic encryption (FHE) technology. Fully homomorphic encryption technology can maintain privacy throughout the data usage process, making it highly valuable in sensitive application areas such as blockchain and artificial intelligence.

Recently, Zama announced the completion of a $57 million Series B financing, led jointly by Blockchange Ventures and Playground Global. This financing brings Zama's total capital raised to over $150 million, with a valuation exceeding $1 billion, making it the first unicorn company to participate in FHE.

Zama's fully homomorphic encryption technology ensures the privacy and security of data throughout its entire lifecycle, providing a solid foundation for various privacy computing applications. The company plans to leverage a new round of financing to further expand its technology team, accelerating product development and commercialization.

Analysts believe that the rise of Zama will drive the application of FHE technology in fields such as finance and healthcare, helping to resolve the contradiction between data privacy and utilization. With the continuous improvement of privacy protection regulations, FHE technology will usher in a broader development prospect. As a leading company in this field, Zama is expected to lead the wave of innovation in FHE technology.

3. Hong Kong Cyberport launches "Blockchain and Digital Assets Pilot Grant Scheme", applications are now open.

To promote the development of blockchain and digital asset technology in Hong Kong, Hong Kong Cyberport has launched the "Blockchain and Digital Asset Pilot Funding Scheme," which is now open for applications.

The program will provide funding support for enterprises in the development stage to test high-impact blockchain and digital asset solutions. Each eligible pilot project can receive 80% funding, with a maximum funding amount of 500,000 HKD. The funding will be disbursed in two phases, with the first phase being the startup capital, and the final phase of funding being disbursed after the project completes the pilot test and is confirmed by the sponsoring organization.

The plan covers multiple areas, including RWA tokenization, stablecoins and payment solutions, decentralized identity, data security, distributed AI/machine learning, as well as social innovation and digital experiences. Applicants must be companies or research institutions that are registered and operating in Hong Kong, and must propose innovative solutions that are not yet available in the market.

Industry insiders believe that the plan will provide valuable support for blockchain and digital asset innovation enterprises in Hong Kong, helping to cultivate more globally influential projects. With the continuous improvement of regulatory policies, Hong Kong is expected to become an important hub for the development of blockchain technology.

4. Sonic Labs enhances blockchain security by launching a new formal verification library.

Sonic Labs is a company focused on blockchain security, and its latest formal verification library aims to enhance the security and reliability of blockchain systems.

The verification library contains a series of tools and methods for formal verification, which can help developers identify and fix potential security vulnerabilities during the coding phase. Compared to traditional code audits, formal verification can more thoroughly check the correctness of the system, thereby reducing the risk of vulnerabilities.

Sonic Labs stated that the new verification library has been applied in multiple blockchain projects, achieving good results. In the future, the company will continue to strengthen cooperation with other security companies in the industry to jointly promote the development of blockchain security technology.

Analysts point out that as blockchain technology continues to penetrate fields such as finance and supply chain, ensuring system security has become increasingly important. Sonic Labs' formal verification library provides a powerful tool for enhancing the security of blockchain systems, which will help to strengthen user confidence in blockchain technology.

5. Ethereum is forming a key pattern on the daily chart, volatility is about to hit.

According to market analysis, Ethereum is forming an intriguing technical pattern on the daily chart, which may define its next move.

This pattern reflects the increasing uncertainty in the market, but it also lays the foundation for high-impact price fluctuations. Analysts indicate that the price of Ethereum may experience significant volatility in the near future, and investors need to remain vigilant.

At the same time, the pace of innovation within the Ethereum ecosystem has not slowed down. Recently, the Ethereum Foundation announced a series of major upgrade plans, including the introduction of new scalability solutions and improvements to the consensus mechanism, aimed at enhancing the network's performance and security.

Industry insiders believe that Ethereum, as a key infrastructure in the cryptocurrency space, will have a profound impact on the overall industry development. In the future, whether Ethereum can successfully implement its upgrade plans and maintain its leading position will determine the direction of the cryptocurrency ecosystem.

6. Celestia Crash: TIA price plummets by 90%, despite having a $100 million reserve.

Celestia is a project aimed at building a decentralized Ethereum equivalent. However, its token TIA has recently been severely impacted, falling over 90% from its all-time high, despite the project reportedly having over $100 million in reserves.

Analysts indicate that this decline is not just a chart issue, but also reflects deeper internal problems within the project. Some investors have questioned the development prospects of Celestia and have chosen to sell off their tokens.

The Celestia team has not made an official statement regarding the recent price drop. However, reports indicate that the project team is working to stabilize the situation and plans to launch a series of new features to restore market confidence.

Industry insiders point out that Celestia's experience once again confirms the high-risk nature of the cryptocurrency market. Investors need to conduct a comprehensive assessment and risk disclosure of projects before investing, rationally view the fluctuations in token prices, and maintain risk awareness.

Overall, the AI Daily project news on June 26 covered multiple hot areas, providing readers with comprehensive and in-depth analysis, which helps to grasp the development context of the industry.

4. Economic Dynamics

1. The US tariff policy has raised concerns about stagflation and economic growth has slowed.

Currently, the U.S. economy faces the risk of stagflation. The latest data shows that the annualized GDP growth rate for the first quarter of 2025 is 1.3%, lower than the expected 1.8%. At the same time, the core inflation rate reached 3.2% in May, well above the Federal Reserve's target level of 2%. The unemployment rate has also increased, standing at 4.1% in May.

Recently, the Trump administration's comprehensive tariff increases have become a major cause of stagflation. Although the tariff measures aim to protect domestic industries, they also increase the cost burden on businesses and consumers, suppressing demand. Apollo's chief economist Slok warned that tariffs dampen business and consumer demand through the supply chain, and stagflation limits the Federal Reserve's policy space, increasing market volatility and demand for safe-haven assets.

Investors' concerns about the economic outlook have intensified. The three major U.S. stock indices experienced significant fluctuations in June, and investors are seeking safe-haven assets. The bond market also shows signs of risk aversion, with the yield on 10-year Treasury bonds dropping to 2.5%.

J.P. Morgan analysts stated in a mid-year outlook research report that U.S. tariff policies may hinder global economic growth and reignite inflation in the U.S. The bank expects the U.S. economic growth rate to be 1.3% in 2025, down from the 2% forecast at the beginning of the year. "The stagflation effect caused by tariff hikes is the reason we are lowering this year's GDP growth expectations," the report said.

2. Powell's congressional testimony raises expectations for interest rate cuts, putting pressure on the dollar.

Comments made by Federal Reserve Chairman Powell during his testimony in Congress have sparked market expectations for interest rate cuts. Powell stated that the U.S. economy is very strong, but the current high tariffs have no modern precedent, and their impact on inflation could be greater or lesser than expected, so the Federal Reserve is not in a hurry to act. He also mentioned that if a trade agreement is reached, it would allow the Federal Reserve to consider rate cuts.

Powell's speech immediately sparked market speculation about interest rate cuts. According to CME's FedWatch Tool, the probability of a 25 basis point rate cut in July has risen to 24.8%. The dollar index also responded by falling, dropping to multi-year lows against both the euro and the Swiss franc.

The weakness of the US dollar primarily stems from concerns about the future independence of the Federal Reserve. Trump has grown increasingly dissatisfied with Powell's stance of inaction regarding interest rate cuts and is even considering announcing the next chairman candidate this summer. Nick Rees, head of macroeconomic research at Monex Europe, stated, "From a market perspective, this will not only clearly undermine the credibility and independence of the Federal Reserve but also pose risks to the outlook for US interest rates."

Currency market strategist Kit Juckes also pointed out, "If Trump really announces Powell's successor in advance, it would be unprecedented." He believes this would intensify market uncertainty regarding Federal Reserve policy.

3. Hong Kong promotes the development of digital assets, with stablecoins being a key focus.

The Hong Kong SAR government recently released the "Hong Kong Digital Asset Development Policy Declaration 2.0", reaffirming its commitment to making Hong Kong a global innovation hub in the digital asset sector. Among them, stablecoins are regarded as a key area for development.

The policy declaration states that to fully leverage the potential of stablecoins, the government and regulatory agencies will provide a favorable market environment and necessary regulatory guidance to promote licensed stablecoin issuers in Hong Kong to research and implement solutions across different application scenarios, addressing substantial pain points in economic activities.

The Financial Secretary, Paul Chan, stated that Hong Kong will advance the integration of virtual assets with the real economy through a dual-track approach of licensing management and scenario-based applications. "Regulation of stablecoins is a key focus, and we require their use to be tied to real scenarios such as trade settlement and cross-border payments, to eliminate speculation and market manipulation."

Zhang Jun, chief economist at China Galaxy Securities, published an analysis stating that the deployment of stablecoins is a proactive measure for the Renminbi to respond to the digital suppression of the US dollar. The evolution from barter to credit currency indicates that the "digitalization of fiat currency" driven by stablecoins may become a new leap in the form of currency.

Industry insiders believe that stablecoins are expected to help Hong Kong become a strategic hub connecting opportunities in China's digital economy with global financial innovation needs. However, it is also necessary to improve the regulatory framework, strengthen technical security, and promote stablecoins from "barbaric growth" to "orderly evolution."

5. Regulation & Policy

1. The U.S. housing regulator plans to include cryptocurrency in mortgage reserves.

Policy Background: The Federal Housing Finance Agency (FHFA) is the government agency responsible for regulating Fannie Mae and Freddie Mac. These two institutions play a significant role in the U.S. housing loan market, providing guarantees for most mortgages. FHFA Chairman Pulte recently issued a statement saying that in response to President Trump's vision of making the U.S. the "cryptocurrency capital," he has ordered Fannie Mae and Freddie Mac to prepare to recognize cryptocurrencies as qualifying assets for mortgage applications.

Policy Content: According to relevant requirements, only cryptocurrencies listed on exchanges regulated by the United States are eligible to be included in the collateral reserves of Fannie Mae and Freddie Mac, and the relevant assets must also adopt volatility protection measures. This means that cryptocurrencies will not need to be converted into US dollars but will be counted as reserves in spot form. The policy aims to address the housing crisis but has also raised concerns about systemic risk.

Market Reaction: The implementation of this policy will push crypto assets from the margins to the center, facing challenges in regulation and risk management. If it can successfully transition into a foundation for wealth building, it will bring broad application scenarios for cryptocurrencies. However, attention must also be paid to subsequent details and execution plans to prevent a repetition of the path leading to the 2008 financial crisis.

Expert Opinion: Cryptocurrency analyst Eleanor Terrett stated that this move signifies the increasing mainstream acceptance and the potential daily utility for investors. However, she also cautioned that relevant assets must adopt volatility protection measures to manage risks. Industry insiders have differing views on this policy, and its implementation progress needs to be closely monitored.

2. Hong Kong Releases "Digital Asset Development Policy Declaration 2.0" to Promote Regulatory Innovation

Policy Background: The Hong Kong SAR government is committed to making Hong Kong a global innovation center in the field of digital assets. To this end, the government released its first "Hong Kong Digital Asset Development Policy Declaration" in October 2022, proposing a series of measures. The new "Policy Declaration 2.0" further clarifies the development direction based on this.

Policy Content: The "Policy Declaration 2.0" outlines the government's vision for building a trustworthy and innovation-focused digital asset ecosystem, with a focus on optimizing laws and regulations, expanding the variety of tokenized products, promoting application scenarios and cross-sector collaboration, and developing talent and partnerships. Specific measures include: the Securities and Futures Commission will act as the main regulatory body for the licensing mechanism of future digital asset trading service providers and digital asset custody service providers; the Financial Services and the Treasury Bureau and the Monetary Authority will lead a comprehensive review of legislation, streamlining the various processes for the issuance and trading of tokenized bonds; the government will explore the issuance of tokenized government bonds with different currencies and maturities; to fully leverage the potential of stablecoins, the government may use stablecoins as a payment tool.

Market Reaction: The "Policy Declaration 2.0" has garnered widespread attention and positive reviews from industry insiders. Industry experts believe that Hong Kong's comprehensive layout in regulation, innovation, and application will further enhance its status as a global cryptocurrency and tokenization hub. At the same time, some analysts point out that the specific implementation of the policy will take time, and the industry's development still requires patience.

Expert Opinion: Hong Kong Legislative Council member Wu Jietzhuang pointed out that the "Policy Declaration 2.0" showcases the strategy for Hong Kong to develop a digital asset hub, emphasizing the balance between innovation and risk, clarifying regulatory responsibilities, and committing to enhancing the efficiency of financial markets. Financial Secretary Chan Mo-po stated that the "Policy Declaration 2.0" demonstrates the government's vision for the development of digital assets and showcases the practical application of tokenization through practice, promoting the diversification of application scenarios.

3. The Chinese regulatory authorities have made arrangements to address stablecoins and other digital currencies.

Policy Background: In recent years, the rapid development of digital currencies such as stablecoins has posed new challenges to the traditional monetary financial system. Li Yang, chairman of the National Financial and Development Laboratory of the Chinese Academy of Social Sciences, stated at a recent forum that although there are various types of existing virtual currencies, only stablecoins have entered the legislative process, which requires significant attention.

Policy Content: Li Yang pointed out that stablecoins have distinct theoretical foundations and operational characteristics compared to traditional currencies. He revealed that Chinese regulatory authorities have made arrangements to address stablecoins and other digital currencies, but did not disclose specific details.

Market Reaction: Li Yang's speech has sparked widespread attention and discussion in the market. Some analysts believe that the Chinese regulatory authorities' attitude towards digital currencies is changing, and relevant policies may be introduced in the future for regulation and management. However, there are also opinions suggesting that China is currently still taking a cautious stance, and it is unlikely to fully open the digital currency market in the short term.

Expert Opinion: Zeng Yi, Executive Dean of the Internet Industry Research Institute of Tsinghua University, stated: "The development of stablecoins has indeed brought new challenges to the traditional monetary financial system, which requires the regulatory authorities to pay close attention and formulate corresponding regulatory policies. At the same time, there should be a certain degree of inclusiveness to allow space for financial technology innovation." He believes that the approach of the Chinese regulatory authorities should be to promote the development of digital currency in an orderly manner under the premise of controllable risks.