Binance Futures will launch three USDT-margined TradFi perpetual contracts — MVLLUSDT, TQQQUSDT, and SQQQUSDT — on June 29, tracking GraniteShares 2x Long MRVL Daily ETF (MVLL), ProShares UltraPro QQQ (TQQQ), and ProShares UltraPro Short QQQ (SQQQ), respectively. All three contracts are settled in USDT, offer up to 20x leverage, support 24/7 trading, have an 8-hour funding rate settlement cycle with a ±2% cap, and support multi-asset mode. The three ETFs are: 2x long on U.S. semiconductor company Marvell (MRVL), 3x long on the Nasdaq 100, and 3x short on the Nasdaq 100.
Whale Opens 27.9 Million XRP Long Position in Past 4 Hours, Notional Value Exceeds $30 Million
A whale has opened a 27.9 million XRP long position with 20x leverage over the past four hours, with a notional value of approximately $30.9 million. The same address also holds a 20x long position of 809.9 BTC, with a notional value of around $50.6 million, currently showing an unrealized loss exceeding $2.6 million.
Hut 8 Reaches $2.35 Million Settlement in Investor Lawsuit Over U.S. Bitcoin Merger
Hut 8 has agreed to pay approximately $2.35 million to settle a securities class action lawsuit related to its 2023 all-stock merger with U.S. Bitcoin Corp (USBTC). The lawsuit alleged that Hut 8 failed to adequately disclose energy and network risks at the King Mountain Bitcoin mining joint venture facility in Texas and misrepresented USBTC's financial condition. The court had previously dismissed most of the investors' claims based on USBTC's financial statements, retaining only Securities Act claims regarding insufficient disclosure of King Mountain infrastructure risks. The settlement amount represents about 19.6% of the estimated recoverable losses of $12.08 million and remains subject to preliminary and final approval by the U.S. District Court for the Southern District of New York. Hut 8 did not admit any wrongdoing or liability.
The European Parliament's Committee on Economic and Monetary Affairs (ECON) has adopted a position paper on the legal framework for the digital euro, paving the way for negotiations with member state governments and the European Commission on final rules. The plan will advance both online and offline versions of the digital euro, with the European Central Bank aiming to complete the rollout by 2029 and conduct pilots within the next 12 months to test the infrastructure in real-world scenarios. Regulators hope that a digital euro issued by the ECB will reduce reliance on Visa, Mastercard, and USD-denominated stablecoins, while providing a \"secure European-native option\" for retail payments without eliminating physical cash.
Abu Dhabi Investment Platform MGX Raises Nearly $50 Billion to Boost AI Infrastructure
Abu Dhabi-based investment platform MGX has recently raised nearly $50 billion from Middle Eastern sovereign wealth funds, global pension funds, and large institutional investors to accelerate investments in artificial intelligence infrastructure and related technology projects. According to sources familiar with the matter, the funds will primarily support MGX's large-scale spending on computing power, data centers, and AI technology deployment, driving its investment pace and scale across regional and global AI industry chains.
SBI Approved to Issue Trust-Type Yen Stablecoin JPYSC This Week
SBI Group has recently received approval from Japan's Financial Services Agency to issue the yen-pegged stablecoin JPYSC within this week. The coin will be issued by SBI Shinsei Trust Bank, with SBIVC Trade responsible for circulation and exchange as a crypto asset trading platform. SBI plans to integrate JPYSC with its group's securities, crypto asset, and banking financial services to enhance the convenience of fund settlement and asset transactions. The stablecoin was jointly developed by SBI and Singapore-based fintech company Startrail Group, adopting a trust-type structure and positioned as Japan's first such trust-type stablecoin project.
Lido DAO Revokes Official Bridge Support for wstETH on Nine Chains Including zkSync Era and Scroll
According to Lido's official blog, Lido DAO has voted via Snapshot to revoke the \"canonical\" bridge endpoint designation for wstETH on nine networks: zkSync Era, Mode, Scroll, Mantle, Swell, Zircuit, Soneium, Polygon PoS, and Lisk. This move represents a governance-level resource adjustment and does not affect the technical operation of the relevant bridges and contracts. Users' wstETH on the aforementioned networks can still be held, transferred, or bridged back to Ethereum as normal. Lido will cease security monitoring, ecosystem, and market support for these networks but will not set a migration deadline.
Blockchain Data Analytics Firm Allium Completes $40 Million Series B Round Led by Amplify Partners
Blockchain data analytics company Allium announced the completion of a $40 million Series B funding round led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures, among others. The valuation was not disclosed. Allium cleans and structures on-chain data, serving institutions such as a16z crypto and Coinbase, and its data is cited by Visa and the Federal Reserve. Founded in 2021 by Ethan Chan and Cheng Han Lee, the company currently has about 50 employees. Reports note that against the backdrop of layoffs at Dune Analytics and Messari's acquisition by Blockworks at a price below its previous valuation, Allium aims to capture the data infrastructure needs for AI agents in future financial transactions and stablecoin payments by controlling the data source.
Ethereum Foundation Cuts 20% of Staff, Reorganizes Into Five Functional Clusters
The Ethereum Foundation (EF) announced the completion of an organizational restructuring, reducing its workforce by approximately 20%, with 54 employees departing, and establishing five new business clusters: Protocol Layer, Access Layer, User Layer, Community Layer, and Institutional Layer. The Protocol Layer focuses on core protocol security such as scaling and censorship resistance; the Access Layer handles self-custody pathways including node access, transactions, attestations, delegation, and exits; the User Layer is responsible for user needs research and education; the Community Layer handles internal and external communication of EF's positioning and engages with open-source and privacy communities; the Institutional Layer promotes Ethereum integration and compliance policy communication targeting financial institutions, enterprises, governments, and academic institutions. EF stated that this adjustment aims to maintain leanness and focus amid market volatility.
Micron Technology Opens Down 11.8%; SpaceX Market Cap Falls Below $2 Trillion
U.S. stock market quotes show Micron Technology (MU.O) down 11.8%. SpaceX (SPCX.O) opened down 2.8%, marking its fourth consecutive day of declines, with its market capitalization falling below $2 trillion.
Robinhood Lists Worldcoin Token WLD for Trading
Robinhood announced that its crypto trading platform now supports trading of the Worldcoin token WLD.
Nvidia Market Cap Falls Below $5 Trillion, Latest Decline at 2.68%
Nvidia (NVDA.O) market capitalization has fallen below $5 trillion, with the latest decline at 2.68%.
Vitalik: Ethereum Foundation Budget Cut by 40% This Year, Transitioning to Long-Term Endowment Model
The Ethereum Foundation (EF) will cut its budget by approximately 40% this year. According to its previously announced financial management plan, EF is transitioning from a model of spending about 15% of remaining funds annually to spending about 5% annually after 2030, evolving into a long-term oriented endowment-type organization. To this end, EF will adjust its multi-client model, rely more on AI-assisted formal verification, shift the PSE privacy and scaling exploration team from \"exploration\" to focused development around zero-knowledge proofs, scale down Devcon events and reduce losses, reduce large projects beyond Ethereum itself, and focus EF institutional work on smaller-scale but replicable CROPS-friendly deployment cases.
Polychain Partner Josh Rosenthal Announces Departure to Launch New Venture
Polychain partner Josh Rosenthal announced his departure from the firm after nearly five years to start a new entrepreneurial venture. Rosenthal stated that Polychain has played a significant role in shaping the digital asset industry and expressed gratitude to the team, investors, and founders of supported projects. He also revealed that he is preparing a new business, with details to be announced later.
Tether-Backed Payment App Oobit Integrates Brazil's PIX Network, Enabling USDT Spending
Tether-backed payment app Oobit has integrated Brazil's central bank-built instant payment network PIX, allowing users to top up Brazilian Reais (BRL) within the Oobit app, exchange and hold USDT, and then complete everyday payments via the PIX network. Oobit stated that users can send USDT to any PIX Key or scan a QR code to pay, with on-chain settlement completed in the background while the front-end experience remains consistent with the PIX process in existing banking apps. Brazil's PIX currently has nearly 170 million users. Previously, in 2024, Oobit completed a $25 million Series A funding round led by Tether and Solana co-founder Anatoly Yakovenko.
Chainlink Partners With 47 Korean and European Banks to Advance Stablecoin Cross-Border Settlement
Chainlink has joined the \"Project Pangea\" alliance involving 47 banks from Europe and South Korea, aiming to achieve real-time cross-border settlement of euro and won stablecoins for foreign exchange transactions within a year. The project will test T+0 atomic PvP (Payment versus Payment) settlement using regulated euro- and won-pegged stablecoins, replacing the traditional T+2 delivery cycle, with the goal of reducing counterparty and settlement risks in the approximately $150 billion Europe-Korea trade corridor. Pangea will serve as middleware, enabling banks to continue using Swift and ISO 20022 messaging standards while completing on-chain settlement via the Pangea L1 chain without restructuring existing payment systems. On-chain infrastructure is provided by Chainlink.
Bitmine Suspected of Withdrawing 35,100 ETH From Exchanges, Worth Approximately $58.39 Million
Two newly created wallets withdrew 35,138 ETH ($58.39 million) from BitGo and Kraken, possibly belonging to Bitmine.
Mark Zuckerberg Has Directed Meta Team to Develop Prediction Market App 'Arena'
Meta CEO Mark Zuckerberg has directed his team to develop a prediction market app, internally codenamed \"Arena,\" operating independently of Facebook, Instagram, WhatsApp, and Messenger. The app will use a game points system rather than real money betting, though the possibility of introducing real money betting in the future has not been ruled out. Meta plans to promote the app through its vast social network user base. This move is part of Zuckerberg's broader strategy to create new types of applications based on emerging online social behaviors. Insiders describe the project as experimental but of the highest priority. Arena is one of a few apps Meta is experimenting with, alongside others including the AI-driven standalone app Meta Photos.
a16z-Linked Wallet Withdraws Another 12,780 ETH From Binance, Worth Approximately $21.21 Million
An a16z-linked wallet has again withdrawn 12,780 ETH ($21.21 million) from Binance, bringing cumulative withdrawals to 25,560 ETH ($42.3 million), and subsequently transferred the funds to a new wallet.
SpaceX Tests the Bond Market, Plans to Issue $25 Billion in Bonds
SpaceX is embarking on its first bond issuance, planning to raise $25 billion. The move aims to test fixed-income investors' confidence in Elon Musk's ambitious blueprint for the company's future. The Texas-based rocket manufacturing and artificial intelligence company is ramping up investment to expand its various businesses, and this bond issuance is seen as a bellwether for its future financing transactions. A buy-side source said on Monday: \"Banks are very keen for this deal to deliver good returns and leave a positive impression on investors, because SpaceX may come back seeking to refinance another $10 billion in the coming years.\" The bonds being issued have maturities ranging from 5 to 30 years. The issuance comes amid another sell-off in large-cap tech stocks, with markets concerned about high valuations and the prospect of rising interest rates.
The U.S. Department of Justice has seized a cloud computing account used by Cambodia's Huione Group, which is accused of laundering billions of dollars in cryptocurrency scam proceeds. Assistant Attorney General A. Tysen Duva stated that the account constituted technical support, enabling scam funds to be transferred and concealed through Southeast Asian scam centers. This action is part of \"Operation Riptide.\" Last year, the U.S. Financial Crimes Enforcement Network had already designated Huione Group as a primary money laundering concern. The statement said Huione subsidiaries are suspected of assisting criminals in moving funds from blockchain-related illegal activities such as investment fraud and cyber theft, ultimately funneling them into the legitimate banking system, with a significant amount of the theft allegedly linked to North Korea. Huione's \"Huione Guarantee\" had advertised stolen credit cards, identity information, malware proceeds, and human trafficking services on its Telegram channel. Blockchain analytics firm Elliptic noted that Huione launched the stablecoin USDH last year under financial pressure and built out its own branded product line, including a decentralized exchange, wallet, and \"Huione Chain\" (Xone).
U.S. CFTC Sues Kentucky Over Prediction Market Regulatory Authority, the Ninth State Sued
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kentucky to establish federal regulatory primacy over prediction markets. This follows Kentucky's lawsuit last week against platforms like Kalshi and Polymarket, accusing them of illegally operating sports betting and gambling services without a state license. In its complaint filed in the U.S. District Court for the Eastern District of Kentucky, the CFTC argued that the state's attempt to shut down federally regulated designated contract markets infringes upon the exclusive federal system designed by Congress to regulate the national swaps market. The CFTC also criticized Kentucky's legislation requiring a 14.25% tax on prediction market transaction fees, stating the rule \"essentially makes it impossible for prediction markets to operate in the state.\" Kentucky becomes the ninth state sued by the CFTC, following similar lawsuits against Wisconsin, Illinois, Arizona, Connecticut, New York, New Mexico, Minnesota, and Rhode Island.
CryptoQuant: Strategy Should Pause Bitcoin Purchases and Rebuild Cash Reserves
CryptoQuant recommends that Strategy pause its Bitcoin purchases and prioritize rebuilding cash reserves. Its Head of Research, Julio Moreno, pointed out that Strategy's preferred stock STRC fell to $82.50 last week, a 17.5% discount to its $100 face value, primarily due to Bitcoin bear market pressure compounded by a sharp decline in cash reserves. Since the beginning of 2026, Strategy's cash reserves have decreased by 38%, while dividend obligations have surged from an annualized ~$300 million at the start of the year to approximately $1.2 billion currently, due to increased STRC issuance to fund coin purchases. Dividend coverage has dropped from over seven years to just 14 months. Moreno estimates that restoring 24-month dividend coverage would require approximately $2.8 billion in cash, roughly double the current level. He suggests Strategy should halt coin purchases until cash reserves and dividend coverage are restored, establish a systematic timing model to avoid the market perception of \"always buying at local tops,\" and formulate a reduction framework during future bull markets to realize gains, reduce leverage, and reserve cash for downturns. Moreno emphasized that Strategy currently holds an unrealized loss of approximately $10.6 billion on its Bitcoin; forced selling would realize losses on a massive scale and damage shareholder value. The company could signal its ability to meet obligations by increasing the dividend rate or issuing MSTR shares.
CBOE Launches CBOE Predicts Prediction Platform
The Chicago Board Options Exchange (CBOE) has launched the CBOE Predicts prediction platform, debuting its first products in a new series of prediction markets. These include binary option contracts based on the Mini S&P 500 Index (XSP), with contract codes XSPBW and XSPBX. These contracts are currently available on Interactive Brokers and are expected to roll out on Charles Schwab in the coming months, with other retail brokerage platforms to follow.
Cardano ecosystem project SecondFi issued a security incident update, stating it has identified the root cause, with the issue limited to its native Cardano web wallet generation software. The preliminary estimated total impact is approximately 16 million ADA (currently worth about $2.42 million). The team has completed on-chain analysis and is conducting an independent technical review with a blockchain security firm to verify the results. The platform remains in security maintenance mode, and a complete snapshot of balances has been taken. For affected users, the team has taken extraordinary measures to protect remaining assets and will strive to provide compensation. Additionally, SecondFi is cooperating with core ecosystem partners including Input Output Hong Kong (IOG), the Cardano Foundation, IntersectMBO, and SundaeSwap to monitor fund flow nodes related to exchanges and minimize the impact on other protocols.
Coinbase Adds Grove (GROVE) to Listing Roadmap
Coinbase announced the addition of Grove (GROVE) to its listing roadmap. Its Ethereum network (ERC-20) contract address is 0xB30FE1Cf884B48a22a50D22a9282004F2c5E9406. The asset's trading launch remains subject to market-making support and technical infrastructure readiness; specific launch timing will be announced separately once relevant conditions are met.
U.S. House Passes Housing Legislation Including Fed CBDC Ban, Sent to President Trump for Signature
The U.S. House of Representatives passed housing legislation by a vote of 358 to 32, which includes a provision temporarily banning central bank digital currencies (CBDCs) until 2030. The bill has now been sent to President Trump for signature. This follows yesterday's news that the U.S. Senate passed a housing bill containing a four-year Fed CBDC ban.
Sahara AI Extends Token Unlock Schedule, Says It Will Not Consider Introducing a Burn Mechanism
Sahara AI released follow-up plans related to the SAHARA token ecosystem development, announcing a 3-month delay for investor unlocks and a 6-month delay for founder, core team, and advisor unlocks to demonstrate long-term commitment. Regarding buybacks, Sahara AI stated that buybacks remain part of its long-term treasury strategy, funded by revenue after product scaling, rather than a one-time reaction to market volatility. Furthermore, SAHARA is a fixed-supply token with no burn mechanism, and the team does not plan to introduce one. On the product side, Sorin will launch new features including perpetual trading, strategy backtesting, and Alpha signal monitoring. The token will also expand to more blockchains next week. Meanwhile, the Sorin simulated trading competition is about to launch, offering a prize pool of up to $100,000 equivalent in tokens. The second phase of staking will also provide holders with more ecosystem utilities such as proxy access, models, and rewards. The team stated the roadmap remains unaffected and will continue to announce new enterprise partnerships.
New Wallet Withdraws 278,800 HYPE From Coinbase, Worth Approximately $17.45 Million
A newly created wallet withdrew 278,827 HYPE ($17.45 million) from Coinbase and may continue to withdraw more.
Sonic Labs Extends Fantom Opera Operation Until Year-End and Discloses New Leadership Structure
Sonic Labs announced a series of governance and operational adjustments on X platform. The Fantom Opera network, originally scheduled to shut down at the end of this month, will now operate at least until the end of the year, with the corresponding cross-chain bridge receiving regular funding support during this period. This decision was made in response to community feedback. The team also eliminated the generic \"contributor\" label and disclosed leadership information: Matt Visser assumes the role of CEO, bringing a background in product management and financial restructuring, having co-founded Squire.Law and led Web3 product strategy; Kosta Kourkoumelis assumes the role of COO, with over 20 years of experience in financial services and digital assets, having been involved in the ecosystem since the Fantom ICO. Sonic stated it will begin unblocking some accounts, clarifying that criticism and questioning will not be blocked, except for threats, targeted harassment, and excessively vulgar content. The team has opened four dedicated contact emails for sensitive disclosures, technical support, feedback/suggestions, and developer collaboration, and plans to introduce public communication formats such as fireside chats and community Q&A sessions in the future. The team stated it will continue to release subsequent progress in a manner of \"small steps, fast iterations, and open transparency.\"
The \"Law of the People's Republic of China on the People's Bank of China (Draft Revision)\" was submitted for first deliberation at the 23rd meeting of the 14th National People's Congress Standing Committee on June 23, 2026. Among its provisions, \"clarifying the legal status of the digital yuan\" is a new proposal. The 2020 draft for comments only mentioned that \"the Renminbi includes physical and digital forms.\" The earlier draft for comments also stipulated that no unit or individual may produce or sell token coupons and digital tokens to replace the Renminbi in market circulation. The People's Bank of China shall order the cessation of illegal activities, destroy illegally produced or sold token coupons and digital tokens, confiscate illegal gains, and impose a fine of up to five times the illegal amount.
SlowMist Cos: SecondFi User Losses May Exceed $20 Million
Regarding the recent security incident involving the Cardano ecosystem project SecondFi, SlowMist founder Cos posted: \"I am actually quite unfamiliar with the Cardano ecosystem. I observed it last night, but if the addresses starting with addr1q and addr1q are both hacker addresses (which behaviorally they appear to be), SecondFi's user losses should exceed $20 million (over 129 million ADA and other tokens stolen).\" Previously, SecondFi disclosed that its security incident impacted approximately 16 million ADA, with the issue originating from web wallet generation software.
Doubao Professional Edition Adopts Three-Tier Pricing Plan, Up to 6,000 Yuan Per Year
On June 24, Doubao released the Doubao Professional Edition based on the latest Doubao 2.1 series large models. It provides an office task mode connected to the Doubao 2.1 Pro model, capable of executing Agent tasks, including operating local computers, using browsers, invoking Skills, and scheduling timed tasks. It features a built-in Office suite and supports professional image/video design and the generation of shareable application websites. The Professional Edition adopts a three-tier pricing plan: the Standard plan costs 68 yuan per month on a continuous subscription, offering quotas for features like Expert Mode and Office Task Mode that are over 5 times those of the free version; the Enhanced plan costs 200 yuan per month on a continuous subscription, offering 4 times the quota of the Standard plan; the Premium plan costs 500 yuan per month on a continuous subscription, offering 10 times the quota of the Standard plan. Doubao will also continue to provide new models for free version users.
BlackRock posted on X platform stating that Bitcoin's role in investment portfolios is evolving and it can be viewed as a complementary diversifying asset. The firm believes that a modest allocation (typically around 1% to 2%) may positively impact a portfolio's return potential while maintaining appropriate risk tolerance.
U.S. Senate Member Says Cryptocurrency Tax Bill Could Be Unveiled as Early as This Fall
U.S. Senate Republican tax drafter Steve Daines stated that the cryptocurrency tax legislation framework being advanced in the Senate has largely taken shape and could be unveiled as early as this fall. Daines said the framework has \"more similarities than differences\" with the version previously released by the House Ways and Means Committee and expressed hope that a legislative markup session can be held this year, but did not disclose specific details.
Ethereum is embroiled in a fierce governance debate over core development funding. Last Friday, former Ethereum Foundation contributor Trenton Van Epps warned that the core development ecosystem could face a \"slow-burn funding crisis\" within three to nine months as legacy support programs dry up and foundation spending shrinks, with maintaining over a dozen client, research, and coordination teams requiring roughly $30 million annually. The controversy centers on a \"Validator Redirected Revenue\" proposal put forward by Kleros co-founder Clément Lesaege, which suggests redirecting 0% to 10% of validator rewards into an ecosystem funding pool — estimated to generate around 50,000 to 70,000 ETH per year at current staking levels. The proposal has met widespread opposition, with critics warning it could entrench the power of large validators and blur the lines between operations and governance. Some community members previously countered that the foundation has enough funds to operate for 30 years, but the foundation's actual decisions indicate it is actively cutting spending and pushing for a diversification of funding models. On Monday, EthLabs, a nonprofit launched by five former Ethereum Foundation researchers, announced its formation, aiming to fund development through direct contributions from large ETH holders. On Tuesday, Ethereum founder Vitalik Buterin stated that the foundation is cutting its budget by roughly 40% under existing policy and has recently laid off 54 people.
