South Korea's KOSPI index closed up 4.4%

Official news: Decentralized exchange platform UXUY, incubated and invested in by Binance Labs, has announced a strategic partnership with launchpad Four.Meme. The two parties will jointly support AI stablecoin UUSD and expand UUSD’s use cases within the BNB Chain ecosystem. Four.Meme has named UUSD its official launch token, allowing users to create innovative tokens with one click via the platform and set up trading pairs between these tokens and UUSD, further enriching on-chain assets and liquidity in the UUSD ecosystem. Additionally, UXUY’s PumpAI app will integrate Four.Meme’s token launch function, providing users with AI-powered hot trend capture, token issuance, and trading entry points, lowering the barrier to creating on-chain assets and accelerating the circulation of AI-native assets. Kevin, founder of UXUY, stated: “We are delighted to form this strategic partnership with Four.Meme. AI trading is emerging as a mainstream narrative driving the next market cycle, while stablecoins will serve as critical infrastructure for AI Agents in payments, transactions, and value exchange. UXUY has always been committed to building a stablecoin-centric on-chain exchange. Through our collaboration with Four.Meme, we aim to further expand the use cases of AI stablecoin UUSD, enabling more users to easily participate in the AI-driven on-chain ecosystem.”

CryptoQuant founder Ki Young Ju stated in a post that spot demand for Bitcoin is weakening, while demand in the futures market remains positive but has dropped significantly compared to levels during the market rebound three months ago.

The European Central Bank (ECB) will announce its interest rate decision at 20:15 tonight, and ECB President Christine Lagarde will hold a press conference at 20:45. Markets widely expect the meeting to remain on hold.

A survey released today by South Korea’s national statistics agency shows that youth employment conditions continue to deteriorate. Nearly half of graduates who have been out of school for over a year remain unemployed, while the share of those out of work for more than three years has hit a 21-year high. Data as of May this year shows that among graduates aged 15 to 29, the number of employed youth dropped by 202,000 year-on-year to 2.76 million, and the unemployed rose by 31,000 to 1.243 million. The job search period for graduates has been lengthening. Among unemployed youth, those out of work for over a year account for 48.6%, up 2 percentage points from 46.6% a year earlier, the highest level since the 2009 global financial crisis (when the rate stood at 51.7%). Long-term unemployed youth out of work for more than three years make up 19.4% of all unemployed young people, the highest since relevant statistics began in 2007. Additionally, the proportion of graduates who have had work experience after graduation is 84.8%, the lowest level since such statistics started in 2004. As the employment environment worsens, young people’s willingness to apply for regular private sector jobs has declined, while the number applying for civil service positions has increased. A statistics official noted that improved treatment for grassroots civil servants is one factor, but more importantly, companies increasingly prefer experienced candidates and temporary hiring has risen, making youth employment conditions more difficult than in the past.

According to monitoring by Onchain Len, after being dormant for roughly 3 months, the attacker behind the Drift Protocol exploit has begun moving funds via Tornado Cash. The attacker is depositing funds into the Tornado Cash Router in batches of 100 ETH each, initiating multiple transfers almost every minute.

According to Bitget's market data, STMicroelectronics' European-listed shares saw their intraday decline widen to 17% after the company's earlier earnings outlook missed expectations.