Tokenization Weekly - No. 77

🚀 Crypto & Blockchain Weekly Digest: June 2–8, 2025

1️⃣ Gemini Files for IPO, Joins Circle in Crypto Public Market Surge 📈

- IPO momentum: Gemini confidentially filed for a U.S. IPO, joining Circle (CRCL), which surged 48% post-listing to a $117.45/share high.

- Market impact: Circle’s $31 IPO debut marked the largest crypto IPO since 2025 began, signaling renewed institutional confidence.

- Broader trend: Analysts predict a wave of crypto IPOs, with Chime and others preparing listings.

2️⃣ Singapore Enforces Strict Deadline for Unlicensed Crypto Firms 🏦

- Regulatory crackdown: MAS ordered all unlicensed crypto firms to halt overseas operations by June 30, 2025, with no grace period.

- Penalties: Non-compliance risks fines up to SGD 250K ($195K) and 3 years’ imprisonment.

- Industry shift: Only DTSP-licensed firms (e.g., licensed exchanges) can operate globally from Singapore.

3️⃣ Hong Kong’s Stablecoin Law Takes Effect, Sets Global Benchmark 🌏

- Regulatory milestone: Hong Kong’s stablecoin licensing regime went live June 1, requiring full asset backing and audits for issuers like USDT and USDC.

- Impact: Boosts institutional adoption in Asia, with HSBC launching tokenized deposits and Ant International as first client.

4️⃣ North Korea Linked to $1.5B Bybit Hack, FBI Confirms 🔐

- Major breach: North Korean hackers stole $1.5B in ETH from Bybit in February 2025, per FBI and TRM Labs.

- Tactics: Used phishing and private key theft, mirroring past attacks like Atomic Wallet ($100M).

- Global risk: UN warns stolen funds could finance weapons programs.

5️⃣ RWA Tokenization Hits $50B, JPMorgan Expands Bitcoin Collateral 🏦

- Institutional adoption: JPMorgan now accepts BTC as loan collateral, while RWA tokenization (real estate, bonds) surged to $50B.

- Forecast: Ripple and BCG project $18.9T by 2033.