Binance to Launch OUSDT Perpetual Contract at 19:45, Up to 10x Leverage
Binance Futures announced it will launch a USDⓈ-margined OUSDT perpetual contract on June 24, 2026, at 19:45 (UTC+8), with up to 10x leverage.
BlackRock Deposits Approximately $257 Million in Bitcoin and Ethereum to Coinbase
BlackRock deposited 2,700 BTC (approximately $169 million) and 52,956 ETH (approximately $88.17 million) to Coinbase, totaling roughly $257 million, and may continue additional deposits.
21Shares Expects Bitcoin Could Rally Back to $100,000 by Year-End
Asset manager 21Shares stated in its latest semi-annual report that Bitcoin’s current pullback trajectory is "broadly similar" to past post-halving performances, and provided a base-case price target of around $100,000 by year-end. The report noted that Bitcoin pulled back after hitting a high of roughly $126,000 in October 2025 and is now around $62,000, still significantly above the average cost basis of all investors at about $54,000, and has not yet fallen below that cost zone. 21Shares believes this indicates the current correction is milder than previous cycles, with stickier market capital. Meanwhile, global crypto ETPs manage roughly $140 billion in assets and collectively hold about 1.25 million BTC, down only around 8% from the prior peak, driven mainly by price fluctuations rather than mass redemptions.
The U.S. Department of Justice announced the seizure of a cloud computing account used by a subsidiary of the Cambodian conglomerate Huione Group. The account provided "back-end infrastructure" for the Telegram marketplace Huione Guarantee and is alleged to have helped launder billions of dollars in proceeds from crypto investment scams and cyber fraud. The DOJ described the account as the network’s “technical backbone,” used to move and conceal funds and access the banking system. Huione Guarantee (also known as Haowang Guarantee) brokers stolen bank card and identity data, malware monetization, and crypto laundering services on Telegram, and was previously identified by blockchain analysis firms as one of the largest illicit online markets, surpassing Silk Road. The U.S. Treasury's FinCEN announced on the same day that it is extending its previous "primary money laundering concern" measures against Huione to its successor entity, H-Pay Service PLC, to prevent it from evading financial sanctions.
Spot Gold Breaks Below the $4,000 Mark
According to Bybit data, spot gold has fallen below the $4,000 per ounce mark for the first time since last November, shedding roughly $1,600 from its all-time high of $5,596 per ounce hit this year.
Sports Prediction App Onyx Odds Raises $20 Million, Led by Kraken Parent Payward
Sports prediction app Onyx Odds has closed a $20 million funding round led by Payward, the parent company of crypto exchange Kraken, at a post-money valuation of approximately $220 million. Onyx Odds is currently expanding from sports event predictions into other trading products.
Ink Upgrading to OP Enterprise Fully Managed Services, Signs Multi-Year Partnership
Ink, the Ethereum Layer 2 network incubated by Kraken, will upgrade to Optimism’s OP Enterprise Fully Managed service and has signed a multi-year partnership. Optimism will operate Ink’s mainnet production infrastructure, while the Ink Foundation focuses on ecosystem and new financial products. Ink launched its mainnet in December 2024, processing over 1 million transactions on its first day, with current on-chain application annualized revenue approaching $40 million. Ink will also act as an OP Enterprise design partner, contributing to the design of features such as programmable block building, sub-one-day withdrawals to Ethereum, and sequencer compliance modules, targeting 400 megagas per second throughput and a minimum 100ms block time by the end of 2026.
Strategy Share Price Slides Below $99, Setting New Low Since Late February 2024
U.S. stock market data shows Strategy's share price has fallen below $99, touching this level for the first time since late February 2024.
Binance announced it has decided to withdraw its MiCA license application submitted in Greece and will instead seek authorization in another EU member state. The company stated the move is based on a prudent assessment of Greece’s current approval progress and timeline, emphasizing that user interests are the core of the decision. Binance said Europe remains an important market, its commitment to compliant operation under the EU’s unified MiCA regulatory framework is unchanged, and it expects to obtain the relevant license in a new member state in the coming months, but will announce the specific country "when ready."
Trump Refuses to Sign Bill Containing U.S. CBDC Ban, Pressures Congress to Advance Election Bill
U.S. President Trump refused to sign a bipartisan housing bill that included a four-year ban on a U.S. central bank digital currency (CBDC), abruptly canceling the scheduled signing ceremony and demanding that Congress first pass his flagship SAVE AMERICA ACT election bill. The CBDC provision in the housing bill would have prohibited the Federal Reserve from issuing a digital dollar through the end of 2030 and had been viewed by the crypto industry as a significant step forward.
Machi Big Brother's 25x ETH Long Position Liquidated, Loses $1.9M, Then Opens New 25x ETH Long
Machi Big Brother (@machibigbrother) saw his 25x leveraged ETH long position fully liquidated, incurring a loss of $1.9 million, before subsequently opening a new 25x ETH long position. His cumulative losses have now surpassed $35.4 million.
a16z CSX-Backed Cambrian Closes $6 Million Seed Round, Led by Franklin Templeton and Polychain
Blockchain data infrastructure startup Cambrian has closed a $6 million seed round co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, Paper Ventures, Nomad Capital, and others. The company previously completed a $5.9 million Pre-Seed round led by a16z Crypto Startup Accelerator last year, bringing total funding to $11.9 million. This round’s structure is a SAFE plus token warrants, and Franklin Templeton and Polychain receive board observer seats. Founded in 2024, Cambrian currently provides API services covering real-time and historical blockchain data on yields, risk, lending rates, trading activity, liquidity positions, and market sentiment, and plans to expand into a verifiable oracle network tailored for institutions and AI agents. The platform is now live in production on Base and Solana, the oracle network Alpha version is complete, and integrations with blockchain and DeFi partners will launch in the coming months. The company currently has a 10-person team and plans to hire blockchain infrastructure engineers and a head of sales.
The U.S. House Financial Services Committee held a hearing on Wednesday to discuss the Federal Reserve's proposal to offer "slimmed-down accounts" (streamlined master accounts) to crypto and fintech companies, granting them direct access to the central bank's payment system. The crypto industry generally supports the proposal, while community banks are concerned about security measures and the lack of equivalent regulatory compliance requirements for new types of financial institutions. At the hearing, Representative Dan Meuser pointed out that access to the Fed's payment system is not a trivial matter and requires careful consideration of who should be granted direct access. Rachel Anderika, Global Head of Operations at Anchorage Digital, called for a regulatory framework that supports innovation. Democratic Representative Stephen Lynch cited the Synapse bankruptcy case and Bitcoin's sharp swing from $100,000 to $59,000 this year, questioning how the financial system can safely handle such risks. In March, the Kansas City Fed approved a limited-purpose account for Kraken parent Payward, sparking broad debate on the degree of direct access to Fed services for crypto and fintech companies.
Analysis: Bitcoin miners face persistent margin compression, revenue already below production cost
Bitcoin miner revenue continues to decline, with the 7-day moving average dropping to around $30 million per day, down from over $50 million last summer. Transaction fee contributions have become negligible, at less than $250,000 per day. BTC is currently trading at about $62,500, far below JPMorgan's estimated production cost of roughly $78,000—a gap that has persisted for five months, the longest of this cycle. Production cost has historically been considered a soft price floor, and currently about 20% of miners are operating at a loss. Network-level stress is emerging. Over the past six months, the beta of mining difficulty to BTC price has risen to 0.62, as high-cost miners toggle their machines on and off in response to price swings rather than running at a loss. The difficulty dropped 10% in the second week of June, the second similar-size adjustment this year. Publicly listed miners sold over 32,000 BTC in Q1 to cover operating costs instead of further reducing capacity.
On June 24 local time, Micron Technology released its financial results for the third quarter of fiscal year 2026, ended May 28, 2026. Revenue reached $41.46 billion, compared to $23.86 billion in the previous quarter and $9.30 billion in the same quarter last year. Under GAAP, net income was $28.24 billion, with diluted earnings per share of $24.67. Operating cash flow totaled $25.39 billion, up from $11.90 billion in the previous quarter and $4.61 billion a year ago. The company guided fourth-quarter revenue in the range of $49.0 billion to $51.0 billion, with adjusted EPS of $30–$32.
Kalshi seeking new financing round at a valuation of about $40 billion
Prediction market platform Kalshi is seeking a new funding round at a valuation of approximately $40 billion, nearly doubling its previous $22 billion valuation, with a possible close as early as the third quarter. If completed, the deal would widen its valuation lead over rival Polymarket. Kalshi's previous round attracted prominent investors including Coatue Management, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley. In a previous report, Kalshi's CEO said the prediction market platform is preparing for an IPO, expected after 2027.
Coinbase has selected Luxembourg as its MiCA compliance headquarters in the EU
Coinbase has officially chosen Luxembourg as its MiCA compliance headquarters, positioning the country as a regional hub to serve EU customers.
Polymarket integrates into Telegram, powered by the TON network
The Open Platform announced on X that Polymarket is now integrated into Telegram and powered by the TON network. Through the TON-native dApp Predict (developed by the GetGems team), users can access prediction markets for sports, politics, crypto, culture, and other real-world events directly within Telegram, with on-chain settlement and full asset control. Trades can be funded using USDT on TON, with a small amount of GRAM for gas fees, and the Omniston protocol from STON.fi provides cross-chain support.
Stablecoin MIM depegs to around $0.50, Abracadabra initiates emergency measures
Abracadabra Finance has acknowledged the MIM stablecoin depeg and is taking emergency measures. Starting today, interest rates on all Cauldrons (including deprecated markets) will be gradually increased to encourage debt repayment and reduce MIM circulating supply. The current depeg provides a natural incentive for borrowers to repay debt at a discount, helping accelerate supply contraction. Direct incentives and Curve bribes will be suspended until MIM regains its peg. The team is evaluating additional recovery plans and will announce them soon. Data shows MIM is currently at $0.5027, down 36.65% in the past 24 hours.
Ripple's stablecoin RLUSD launches in Japan after receiving FSA approval
Ripple and SBI Holdings announced that the RLUSD stablecoin has officially launched in Japan after receiving approval from Japan's Financial Services Agency (FSA). It is available to institutional and retail users through the VCTRADE platform of SBI VC Trade. RLUSD is classified as a new type of electronic payment instrument under Japan's Payment Services Act, designed to meet the safety and regulatory standards for foreign-issued stablecoins. Jack McDonald, SVP of Stablecoins at Ripple, said this launch is an important step in expanding access to regulated dollar stablecoins for Japanese financial institutions and businesses, positioning RLUSD as a bridge for payments, tokenization, and collateral management.
Two whales are shorting the S&P 500 with a combined position worth about $89 million
Two whales are shorting the S&P 500 with a combined position worth about $89 million. Whale "0x469" opened a 6,500-contract S&P 500 short position with 20x leverage, worth $48 million, at a liquidation price of $8,413.66. Whale "0x4ff" opened a 5,686.66-contract S&P 500 short position with 7x leverage, worth $42 million, at a liquidation price of $8,358.13.
M token plunges 80.74% in 24 hours, currently at $0.5458
Market data shows that MemeCore (M) dropped to as low as $0.3356 this morning and has since rebounded to $0.5458, with a 24-hour decline of 80.74%.
Jiang Zhuoer: This Bitcoin bear market may bottom in Q4, with a target range of $42,000–$44,000
Jiang Zhuoer, founder of the Litecoin mining pool, stated that Strategy's mNAV has now fallen to 0.72, approaching the low of 0.7 set in May 2022 during the previous bear market. Combined with recent market sentiment events such as the STRC depeg, he believes we are now in the bottom region of the current cycle's mNAV. mNAV often leads BTC price bottoms by about six months, and based on the "four-year cycle" and volatility decay model, he estimates this Bitcoin bear market could bottom between October and December 2026, with a target price range of $42,000 to $44,000. Jiang also said his near- to medium-term strategy remains focused on selling spot and shorting, and he will switch to buying spot and going long only after the expected bottom arrives.
Compute trading marketplace Ornn closes $33 million seed round led by a16z Crypto
Compute trading marketplace Ornn announced the completion of a $33 million seed funding round, led by a16z Crypto with participation from Galaxy Ventures, Nordstar, and SV Angel, and follow-on investments from Vine Ventures, Crucible Capital, Link Ventures, and Box Group. Ornn was founded in 2025 by two MIT graduates with the goal of building a compute trading marketplace. The company has previously developed an index tracking GPU compute costs. Ornn CEO Kush Bavaria and CTO Wayne Nelms stated that the new funding will be used for hiring and business expansion, and to launch a GPU capacity trading platform that enables data centers, small and medium-sized cloud service providers, and other users to buy and sell compute like commodities such as oil, offering short-term flexible commitments to serve more small and medium enterprises.
“The ‘Iron-Head Bull’ Longing 120,000 ETH” added $8 million in margin in the early morning, with unrealized losses already surpassing $77.047 million. The liquidation prices for four addresses (entities linked to Bit) are $1,174.6, $1,059.1, $1,064.7 and $1,143.6, respectively, with an entry point around $2,265. Despite the heavy unrealized loss, there remains considerable distance to liquidation, and more than 6 million USDC are still available on-chain as margin.
