ZKSherlock

Robinhood launches tokenized stock trading and partners with Arbitrum to develop a dedicated Layer 2.
At a press conference held in Cannes, France, Robinhood announced the provision of stock tokenization trading services to EU users. Currently, over 200 U.S. stock assets are supported for on-chain trading 24 hours a day, 5 days a week, including tokens of some private companies. The company plans to expand the supported assets to thousands by the end of this year.
To reduce the cost for European investors entering the U.S. market, Robinhood charges only a 0.1% foreign exchange conversion fee. In the future, users will be able to achieve self-custody of tokenized stocks and ETFs through Robinhood's crypto wallet, and can also choose a simplified operating experience that does not require managing private keys.
In addition, Robinhood has revealed that it is developing a chain based on Arbitrum specifically designed for physical assets (RWA).

KTA big dump 20%, the Crisis of Confidence of the Keeta project emerges.
Recently, the project Keeta on the Base chain has encountered a Crisis of Confidence, with its token $KTA experiencing a big dump of 20% within 24 hours. The catalyst for this incident was a comment made on social media.
A user who experienced the Keeta testnet publicly stated that the project has many issues. He pointed out that the project's block explorer is fake, the transaction data is not real, the Swap function is unusable, and the quality of the white paper and documents is poor.
What is even more concerning is that a well-known on-chain analyst subsequently echoed this comment. He pointed out that when a project primarily relies on non-developer influencers for promotion, it often indicates a lack of technical strength. He also sarcastically remarked that a so-called "serious" L1 project issues tokens before launching any products, charges high fees upon going live, and is ultimately hyped to an astronomical valuation.

Analysis of Hong Kong's New Stablecoin Regulatory Guidelines: Retail Investor Compliance Guide and Global Comparison
On August 1, 2025, Hong Kong officially implemented the "Stablecoin Ordinance," becoming the first region in the world to establish a comprehensive regulatory framework for fiat-backed stablecoins. This move not only signifies the regulatory authorities' focus on digital assets but also provides retail investors with a safer and more transparent investment environment. This article will delve into the regulatory policies of the Hong Kong Monetary Authority (HKMA), offering guidance for retail investors on compliant holdings of stablecoins, and comparing the regulatory differences between Hong Kong, Singapore, and the United States, while exploring market opportunities and challenges.
Core content of Hong Kong stablecoin regulations
The Hong Kong Monetary Authority has established a licensing system for fiat stablecoins through the "Stablecoin Ordinance", aimed at promoting innovation while controlling risks. According to the new regulations, institutions issuing fiat stablecoins or claiming to be pegged to the value of the Hong Kong dollar must apply for a license from the Monetary Authority. Applicants must meet strict entry requirements, including

A popular platform in the Solana ecosystem plans to issue tokens to raise $1 billion. Despite the rising market attention, its valuation of $4 billion has sparked controversy. The platform is facing issues of declining user participation and insufficient liquidity, with market sentiment being cautious and concerns over token quality. Overall, the future development of the platform is filled with uncertainty.

Ethereum price breaks through $2,827, $1.8 billion short positions face liquidation risk
On June 10, 2025, the price of Ethereum surged past $2,827, reaching a 15-week high. Behind this price movement lies a potential liquidation storm involving $1.8 billion in short positions. Amid this seemingly coincidental market trend, the trading patterns of a mysterious whale have become a key clue in interpreting market sentiment.
According to on-chain data, a certain anonymous address completed two precise operations within 44 days:
April 27: Purchased 30,000 ETH at an average price of $1,830, totaling $54.9 million;
May 27: Sold an equivalent amount of ETH at a price of $2,621, earning $23.73 million, with a yield of 43%;
June 10: Sold 30,000 ETH again for $82.76 million, locking in a profit of $7.3 million, with a cumulative profit of $31 million.

The MEME token issuance platform has undergone significant changes, with a new emerging platform surpassing the old leader, leading significantly in market share and trading volume. In key metrics such as the number of token issuances and graduation rates, the new platform has performed excellently, attracting substantial funds and community follow. Although the old platform still maintains an advantage in active users, competition is becoming increasingly fierce, and the MEME ecosystem will become more diverse and complex.

Recently, the Meme coin market has shown new trends, with Bonk Token performing outstandingly, experiencing a significant rise in daily issuance and volume, and the project's revenue exceeding 68,000 SOL, with plans to buy back tokens. Investors should be cautious, as the Meme coin market carries considerable risks.

After the announcement at the Trump dinner, the price of the TRUMP Token quickly pumped, attracting widespread follow from investors. However, its poor long-term performance and concentrated supply have led the market to adopt a cautious attitude towards its future. At the same time, the dinner event may activate the hype around Trump-themed NFTs, reminding investors to follow potential risks.

Labubu toys achieved remarkable success in 2024 with a surge in stock price, with a market capitalization exceeding 350 billion HKD and a global business presence. However, the associated Meme coin LABUBU faced a severe big dump, with its market capitalization dropping to 27.89 million USD, highlighting the bubble characteristics of the Meme coin market and the lack of actual value support.

The Trump dinner attracted TRUMP token holders, stimulating a rise in the token price in the short term. However, in the long term, the market still has doubts about the prospects of the TRUMP token, and investors need to make cautious decisions. At the same time, NFTs have once again become the focal point, reflecting the challenges of Trump's market strategy and investors' risk assessment.

Memecoins like BONK have a high Beta Coefficient, providing leverage for investors. Analysis shows that when BONK's short-term Beta is higher than its long-term Beta, its return rate significantly rises. When evaluating Memecoins, it is essential to follow on-chain data, community beliefs, and macroeconomic factors to help investors make more informed investment decisions.

Recently, Ethereum has performed outstandingly due to technical upgrades and ecological prosperity, driving the rise in coin prices and the recovery of Memecoins. In contrast, the Solana ecosystem faces selling pressure and insufficient enthusiasm for new tokens. New projects like RATO and BERRY have emerged; although the market is active, investors need to cautiously manage risks.

The SEC chairman calls for the establishment of a clear framework for the regulation of encryption assets.
At the recent tokenization roundtable meeting, the chairman of the U.S. Securities and Exchange Commission (SEC) delivered an important speech, calling for the establishment of a reasonable regulatory framework for the encryption asset market. He emphasized that the SEC must keep pace with innovation and consider regulatory reforms to accommodate on-chain securities and other encryption assets.
The chairman pointed out that the transition of securities from traditional databases to blockchain systems is similar to the evolution of audio from vinyl records to digital files. This transition could reshape every aspect of the securities market, bringing about entirely new methods of issuance, trading, holding, and using securities. For example, on-chain securities can utilize smart contracts to transparently distribute dividends on a regular basis, and tokenization can convert illiquid assets into liquid investment opportunities.
In order for the United States to become a global leader in the encryption field, the SEC needs to establish clear rules for the issuance, custody, and trading of encryption assets.

CS:GO Skin Market Collapse: The Wealth Game of Virtual Gun Skins
Recently, as the hype around Meme coins fades, some speculators have turned their attention to the CS:GO skin market. Former "Meme hunters" have transformed into "skin flippers," viewing CS:GO skins as a new wealth code.
CS:GO was released in August 2012, introduced the weapon case and skin system in 2013, and allowed trading on the market, laying the foundation for the cosmetic economy. After years of development, the CS:GO cosmetic market has remained prosperous.
However, in May 2025, the CS skin market suddenly collapsed. The skin index plummeted 20% in three days, and the prices of several popular trading items nearly halved, sparking heated discussions among users. This kind of market crash is all too familiar to coin speculators, except this time what they hold are "virtual gun skins."
Players who have long profited from skin appreciation lost their joy overnight.

MetaMask Snaps are considered mini-programs in the Web3 space. Although the concept has been proposed for a long time, user awareness is limited. Currently, there are not many available Snaps, and most functionalities are restricted due to security considerations. In the future, attention needs to be paid to how to attract users into this ecosystem and the potential challenges it brings between developers and users. Despite the difficulties, Snaps remain products that address real-world problems, and stronger promotion is needed for them to become essential features.

The PT leverage yield strategy relies on the Ethena, Pendle, and AAVE protocols to achieve up to 9 times leverage and 60% annual yield through staking and lending. However, there is a discount rate risk, which may lead to high leverage liquidation risks due to market fluctuations, so investors need to carefully control leverage.

Gorbagana: A grassroots carnival from meme to chain within 48 hours
Recently, the crypto market has fallen into a state of fatigue, with Bitcoin and Ethereum prices fluctuating unpredictably, while the spotlight has shifted to crypto stocks and stablecoins. However, a sudden community initiative has brought a breath of much-needed crypto renaissance to the market.
On June 19, a meme coin named Gorbagana was born from a casual chat on social media by a co-founder of a certain L1 project. Surprisingly, just 48 hours later, a testnet for an L1 chain named Gorbagana Chain went live, technically forking a well-known L1.
As of now, Gorbagana is operating stably and has processed nearly 14 million transactions. Its token $GOR reached a market value of 30 million USD within 4 days, peaking at 60 million USD.
The interesting thing about this event is that it comes from

The Web3 industry lost $364 million in April, with phishing becoming a major threat.
Latest data shows that the Web3 industry will suffer losses of up to $364 million due to security incidents in April 2025, with the majority stemming from Phishing attacks. This staggering figure is primarily attributed to a single event: a U.S. senior citizen fell victim to a carefully crafted social engineering attack, resulting in the theft of 3,520 bitcoins.
According to on-chain investigators, these stolen assets were quickly transferred to multiple trading platforms and exchanged for anonymous cryptocurrencies, causing a temporary surge in the prices of related coins by 50%. The victims are said to be long-term holders of these Bitcoins since 2017.
In addition, several notable attacks occurred in April. A decentralized exchange platform lost $7.5 million due to a price oracle vulnerability; a project team suffered a hack resulting in a loss of $5.8 million; the airdrop contract of a certain Ethereum scaling protocol was also

The U.S. House of Representatives passed the FIT 21 Act, which aims to clarify the division of responsibilities between the SEC and CFTC in the regulation of Crypto Assets and promote the Decentralization of projects. The bill proposes standards for Token classification and sets conditions for public sales, but it still needs to pass the Senate, leaving future uncertainties. This legislation could have a profound impact on the development of the crypto industry.

The U.S. Securities and Exchange Commission (SEC) has entered the final stage of approval for the Solana Spot ETF, with eight companies having applied, including VanEck, 21Shares, and Canary Capital. Customer service is requesting an increase in stake content. Competition is intensifying, with firms like Fidelity and CoinShares as new entrants, hoping to drive innovation and development in the industry.