Today's Highlights:
Binance Alpha to List Arcium (ARX) on June 22
Bitcoin ETFs See Record $6.35B Net Outflow Over 30 Days
JaredFromSubway Attacker Transfers Part of Funds to TornadoCash
MEV Bot JaredFromSubway Exploited, ~$7.5M in Assets Stolen
Opinion: "Token Export" Could Become a New Application Scenario for CBDCs
Regulation & Macro
Next week's macro focus: US-Iran ceasefire remains uncertain, PCE data and Fed officials' speeches upcoming. Monday: China Loan Prime Rate; Tuesday: US ADP Employment, S&P Global Flash PMIs; Wednesday: API and EIA Crude Oil Inventories; Thursday: Fed Bank Stress Test Results, Initial Jobless Claims, Core PCE Price Index, Final GDP, etc.; Friday: Speeches by New York Fed President Williams, Chicago Fed President Goolsbee, and Minneapolis Fed President Kashkari. Core PCE data will test inflation, with markets watching the Fed's hawkish resolve.
An Iranian Foreign Ministry spokesperson stated that if the other party refuses to fulfill its commitments, Iran will take necessary measures in response, based on the principle of "commitment for commitment."
Iran's Supreme Joint Military Command: Strait of Hormuz Will Be Closed to Ship Traffic
Iran's Supreme Joint Military Command stated that due to alleged violations of the ceasefire memorandum of understanding by the US and Israel, the Strait of Hormuz will be closed to ship traffic.
The US Senate is in intensive consultations on the CLARITY Act, aiming to clarify that non-custodial software developers will not bear legal liability for third-party use of their code if they did not knowingly participate in illegal uses. Bipartisan senators will discuss differences this week; the bill needs to advance before August, or it may be delayed by the election cycle.
California expects IPOs from SpaceX and AI giants to bring tax revenue growth, but complex employee equity incentive structures, early sales, and tax avoidance tools make tax revenue more dispersed, potentially resulting in lower actual income than traditional concentrated IPO windfalls, with more volatile fiscal increments.
US House Armed Services and Foreign Affairs Subcommittee Chairman William Timmons announced a Digital Finance Roundtable on June 25 to discuss how crypto assets can help citizens gain financial autonomy, analyze sovereign digital currency surveillance risks, and explore US digital finance competitiveness and national security pathways.
Project Updates
Binance Alpha to List Arcium (ARX) on June 22
Binance Alpha will list Arcium (ARX) on June 22. Eligible users can claim the airdrop using Binance Alpha points after trading opens.
JaredFromSubway Attacker Transfers Part of Funds to TornadoCash
The attacker of the MEV bot JaredFromSubway stole 1474.58 WETH, 2.87M USDC, and 2M USDT, swapped them for 4400 ETH, and has deposited 1000 ETH into TornadoCash. The bot was previously attacked, with approximately $7.5M in assets stolen.
MEV Bot JaredFromSubway Exploited, ~$7.5M in Assets Stolen
The Ethereum MEV bot JaredFromSubway was attacked, with approximately $7.5M in assets stolen. The attacker constructed fake token wrappers and liquidity pools, tricking its automated system into granting token approvals, then exploited the unrevoked approvals to transfer out WETH, USDC, and USDT. This incident was not a traditional phishing attack but exploited a mechanism flaw where the bot automatically identifies arbitrage opportunities and generates approvals.
SlowMist Security founder Cos reviewed the BNB Chain PancakeSwap OLPC/LABUBU liquidity pool theft, pointing out an exploitable vulnerability in the OLPC token contract. The owner maliciously modified the decimalsValue parameter to an extremely large value 46 days before the attack, then discarded admin privileges. The attacker used the distorted parameter to trigger the pool reserve burn logic, swapping a small amount of OLPC for a large amount of LABUBU, cashing out 1.115M USDT.
Anza CEO: Solana-Related SIMD Proposals Expected to Advance and Complete Within This Year
Anza CEO Brennan Watt stated that Solana-related SIMD proposals are expected to advance and complete within this year. SIMD-123 has passed and is nearing code completion, while SIMD-553 and SIMD-550 have received conceptual confirmation.
Whale "pension-usdt.eth" Opens New 3x Leveraged ETH Short, Position Value Now ~$1.5M
After closing an Ethereum short position yesterday, whale "pension-usdt.eth" opened a new 3x leveraged ETH short, holding 871.3249 ETH with a position value of approximately $1.5M and a return on investment of 0.25%.
From $1.18M Unrealized Profit to $782K Loss: An Address Clears 112.86 WBTC
An address bought 112.86 WBTC on April 14 at an average price of $71,655, worth $8.08M. It once had an unrealized profit exceeding $1M in mid-May, but later cleared the position in batches on June 16 and 7 hours ago at a selling price of $64,723, incurring a loss of $782K.
Ubisoft Co-Founder Claude Guillemot Dies in Plane Crash
Ubisoft co-founder Claude Guillemot died in a plane crash in La Baule, France, at the age of 69. Another passenger on the same plane also perished.
Hyperliquid: Markets Denominated in USDH on HyperCore Have Completed Settlement
Hyperliquid announced that markets denominated in USDH on HyperCore have completed settlement. Users need to immediately handle remaining USDH assets, including swapping to USDC, withdrawing lending positions, etc., to avoid impact from the exit process.
PancakeSwap Liquidity Pool Attacked, Hacker Steals $1.1M and Transfers to Tornado Cash
The PancakeSwap OLPC/LABUBU liquidity pool on BNB Chain was attacked, with the hacker stealing approximately $1.1M in assets, bridging to Ethereum and depositing 633.4 ETH into Tornado Cash, while also transferring small amounts of BNB and ETH to a burn address. PeckShield continues to track.
A Whale Spent 16.55M USDC to Buy 234,898 SOL at an Average Price of $70.5
A whale spent 16.55M USDC 7 hours ago to purchase 234,898 SOL at an average price of $70.5.
Morgan Stanley "Buys the Dip," Total Bitcoin Holdings Surpass 4,300 BTC
Morgan Stanley bought the dip over the past week, increasing holdings by 266.56 BTC through MSBT, worth $17.26M, bringing total holdings to 4,348 BTC, valued at approximately $273.8M.
Privacy Public Chain Namada Suffers Vulnerability Attack, 228K ATOM Transferred Out via IBC
Privacy public chain Namada suffered a vulnerability attack, with 228K ATOM transferred out via IBC to an address on Cosmos Hub, subsequently cleared through multiple transfers. Officials have launched an investigation and hope to contact and cooperate with the hacker for a fix if it is a white hat.
Musk Secures $116B Sky-High Compensation Package
Musk has exercised all rights under the 2018 Tesla CEO compensation plan, receiving 304 million shares with a paper gain of approximately $116 billion, but the shares are locked until 2028.
Investment & Financing News
1confirmation partner Nick Tomaino stated in a letter to LPs that the fund's cumulative cash distributions total approximately $317 million, already exceeding the total capital contributions across all funds of approximately $286 million.
Opinions & Analysis
Michael Saylor urges the Bitcoin community not to split over minor disagreements, should focus on the opportunity of global capital inflows, emphasizing alignment on 99% of important matters and that the opportunity outweighs the debate.
The Dollar Index is nearing a breakout above the top of its 13-month consolidation range, putting pressure on Bitcoin and continuing the negative correlation. DXY rose 0.26% to 100.66, while Bitcoin weakened for three consecutive days to around $63,900. The Fed's hawkish stance strengthens dollar support, potentially shifting funds toward safe-haven assets.
Strategy's issued perpetual dividend preferred stock STRC fell below its $100 par value, as the market worries about its capital structure and dividend sustainability. On May 14, the ex-dividend date closing price was $100, but competitor SATA's preferred stock with a 13% annualized yield diverted funds; on May 15, the company repurchased $1.5 billion in convertible bonds at a discount, consuming cash; by May 26, cash reserves dropped to $871 million, only enough for 6 months of dividends; on June 1, it sold 32 BTC for the first time to support dividends, and MSTR fell 5.9% in a single day; on June 5, BTC fell below $60,000, and STRC dropped to $90; on June 8, dividends were changed to twice monthly, and cash reserves recovered to $1 billion; on June 15, it purchased another 1,587 BTC, raising cash reserves to $1.1 billion; on June 18, STRC hit a low of $83, a new low since listing. The core contradiction lies in the deep binding of the high-dividend structure to Bitcoin's price cycle, with growing market doubts about the sustainability of the "issue preferred stock to buy coins" model.
"Rich Dad Poor Dad" author Robert Kiyosaki stated that he does not decide to buy or sell based solely on price, but focuses on the macro backdrop. Technical charts for gold, silver, Bitcoin, and Ethereum suggest they may be in a pre-surge phase, waiting for prices to finish declining before buying.
Opinion: "Token exports" may become a new application scenario for central bank digital currencies
"Token exports" may become a new application scenario for central bank digital currencies, packaging AI inference services as tradable outputs, with CBDCs serving as a trusted settlement protocol to achieve a closed loop from invocation, billing, to clearing and settlement. There are no fully disclosed cases yet, but the discussion is shifting from monetary sovereignty toward a practical transaction foundation.
Michael Saylor reviews Strategy's Bitcoin strategy: During the 2022 bear market when BTC fell to $16,000, the company's debt once exceeded reserves by $300 million, and MSTR's stock price dropped to $13. But the company did not change its strategy, continued financing to increase positions, cumulatively raised over $60 billion to purchase 716,000 BTC. Currently, assets exceed debt by approximately $48 billion, and it will continue to hold long-term.
Machi Big Brother calls out Michael Saylor: Deposit all Bitcoin into Ethereum lending to repay debt
Machi Big Brother Huang Licheng called out Michael Saylor, suggesting depositing Bitcoin into Ethereum lending to repay debt, saying "Apes together strong," expressing a radical leverage strategy idea.
"White-Haired Stock God" Serenity reviewed multiple early targets that were questioned but later validated by the market, including AXTI, RPI, SIVE, etc., emphasizing that market trends are the only standard for investment judgment, and short-term noise from public opinion will ultimately be validated by fundamentals.
"White-Haired Stock God" Serenity pointed out that three months ago the market was broadly bearish on the storage sector, but since then Micron Technology rose 195%, SanDisk rose 281%, SK Hynix rose 215%, etc., advising thinking independently beyond narratives, suggesting similar logic may replay in the optics/photonics field.
Nansen CEO Alex Svanevik stated that if CZ had acquired FTX back then, he might now indirectly hold approximately 8% of Anthropic, approximately 5% of Cursor, and some SpaceX investment interests.
Key Data
Top 10 by revenue in the past 30 days: Tether leads with $490 million in revenue, valued at $200-500 billion; Circle revenue $193 million, valued at $21.5 billion; Hyperliquid revenue $64.7 million, valued at $15.5 billion; Canton revenue $61.3 million, valued at $5.9 billion; Tron revenue $28.9 million, valued at $30.7 billion; Pump revenue $25.9 million, valued at $500 million; Polymarket revenue $21.22 million, valued at $13.4 billion; Grayscale revenue $16.5 million, valued at $31.5 billion; Collector Crypt revenue $14 million, valued at $73 million; Sky revenue $12.7 million, valued at $1.35 billion.
Bitcoin mining difficulty drops over 20% from all-time high, largest decline since 2021
Bitcoin mining difficulty has fallen over 20% from its all-time high, the largest decline since 2021, as miners capitulate.
Bitcoin ETF sees record $6.35 billion net outflow over 30 days
Bitcoin ETFs saw a net outflow of $6.35 billion over the past 30 days, a record high, ranking first among all 582 30-day windows.
