StormX has filed for voluntary Chapter 7 bankruptcy protection
According to official news, StormX, Inc. announced today that it has voluntarily filed for bankruptcy protection under Chapter 7 of the U.S. Bankruptcy Code. Creditors who believe they have claims against StormX, Inc. must submit proof of claim detailing the amount and basis of the claim. No claim agent was designated in this case, so any proof of claim must be submitted through the court website. Earlier in May, StormX disclosed that it was supposed to merge with EarnM, but EarnM eventually abandoned the deal. Previously in July 2021, StormX, a cryptocurrency rebate platform, received $9 million in financing led by Optimista Capital. It is reported that "Chapter 7 bankruptcy" refers to a procedure in which a company that cannot repay its debts can sell its assets to repay creditors; the proceeds from the sale of assets are used to repay the company's debts. The company was subsequently dissolved and no longer exists.
Binance Alpha to List CESS Network (CESS)
According to official news, Binance Alpha will be listed on CESS Network (CESS). Trading will be open on June 26, and the specific time will be announced separately. After Alpha trading is open, eligible users can go to the Alpha event page to use Binance Alpha points to claim the airdrop. Details will be announced on June 26.
GameStop raises another $450 million, which may be used to purchase BTC
According to CoinDesk, game retailer GameStop disclosed in a filing with the U.S. SEC on Tuesday that it raised another $450 million through convertible bond over-allotment rights, bringing its total bond issuance to $2.7 billion in mid-June. According to SEC documents, this batch of zero-interest bonds due in 2032 can be converted into common stock, and the conversion price is 32.5% higher than the weighted average price on June 12. The funds will be used for company operations and asset allocation in line with investment policies, including continuing to increase holdings of Bitcoin as a reserve asset. Since launching its Bitcoin financial strategy in March, GameStop has spent about $500 million to purchase 4,710 Bitcoins in May.
According to Cryptoslate, CryptoQuant analyst Darkfost pointed out in a report on June 24 that Binance's monthly Bitcoin inflow has dropped to 5,700 BTC, less than half of the average monthly 12,000 since 2020, and only 25% of the inflow during the FTX crisis at the end of 2022. In this cycle, each surge in large Bitcoin deposits corresponds to a local price peak, such as the net inflow of more than 17,000 Bitcoin when Bitcoin pulled back from $69,000 in August last year, and the net inflow of more than 20,000 Bitcoin when it broke through six figures in March this year, and each surge foreshadowed a short-term correction. Today, the inflow of 5,700 BTC occurs when Bitcoin stabilizes above $105,000 and volatility is close to the low point of the year. Darkfost believes that the contraction of this inflow indicates that the market is in a "positioning phase", and both retail traders and large investors choose to keep Bitcoin outside the exchange, eliminating immediate selling pressure.
Movement repurchase address withdraws 83 million MOVE from Binance in the past 9 hours
According to on-chain analyst @ai_9684xtpa, the Movement repurchase address has withdrawn 83 million MOVE from Binance in the past 9 hours. Movement previously promised to use $38 million to repurchase tokens, and yesterday was the last day of the three-month period (it could also be today due to time zone issues); however, as of now, based on the token offer price, the repurchase progress is only 54.2%.
Kraken Obtains MiCA License in Ireland to Provide Compliant Crypto Services in the EU
According to Cointelegraph, the crypto exchange Kraken announced that it had obtained the MiCA license issued by the Central Bank of Ireland, and was allowed to provide compliant crypto services in 30 EU member states. This is another key compliance milestone for Kraken after obtaining the electronic money institution license in 2023 and the MiFID license in February 2025. Kraken's co-CEO said that the license will help the platform expand into the EU market.
Coinbase launches Cardano and Litecoin wrapped tokens cbADA and cbLTC on Base
According to Cryptoslate, Coinbase announced early this morning that it would launch Cardano and Litecoin’s wrapped tokens cbADA and cbLTC on its Layer2 network Base, completing the previously announced four wrapped token issuance plans (including cbDOGE and cbXRP launched in early June). The current on-chain reserve proof shows that 11,364 LTC and 2,963,259 ADA have been locked in the custody address as underlying assets.
According to on-chain analyst Ember, SharpLink Gaming (Nasdaq: SBET) has continued to purchase 5,989 ETH (US$14.47 million) through Galaxy Digital over the past day. They should have spent a total of US$507 million to purchase and hold 194,000 ETH, with a total cost of about US$2,611. The current floating loss is about US$36 million.
Coinbase adds Wormhole(W) to its coin listing roadmap
According to official news, Coinbase announced that Wormhole (W) will be added to the coin listing roadmap.
According to The Block, the listed company Bit Digital (stock code BTBT) announced a strategic transformation into a pure Ethereum pledge and financial asset management company. The company will gradually shut down its Bitcoin mining business and plans to "gradually" convert the 417.6 BTC (about $34.5 million) it holds into ETH, while raising funds through a public offering of shares to increase its holdings of ETH. Bit Digital currently holds 24,434.2 ETH (about $44.6 million) and operates one of the world's largest institutional-grade Ethereum pledge infrastructures. The company will also spin off its high-performance computing subsidiary WhiteFiber. This transformation continues the trend of listed companies allocating crypto assets as financial reserves, but the strategy of focusing on Ethereum is relatively rare in the industry. Previously, Consensys founder Joe Lubin also launched a similar Ethereum financial management project SharpLink.
According to The Block, Hester Peirce, a Republican member of the U.S. Securities and Exchange Commission, said that a physical redemption mechanism for cryptocurrency ETFs may be coming soon. During a panel discussion at the Bitcoin Policy Institute on Wednesday, the commission was asked whether it would approve a physical subscription and redemption mechanism and whether it was "coming soon." Peirce said: "These (forms) are currently under review. So I think that at some point, a physical subscription and redemption mechanism will definitely come. I can't judge in advance, but we have heard that a lot of companies are interested in this." Several companies, including BlackRock, have been applying to the agency for months, hoping to allow Bitcoin ETFs to make physical subscriptions and redemptions instead of having to use cash. In January of this year, Nasdaq submitted a 19b-4 form on behalf of BlackRock to promote this change, and other companies have followed suit since then.
According to The Block, Tether CEO Paolo Ardoino predicts that in the next 15 years, there will be 1 trillion AI agents in the world using Bitcoin and USDT for machine-to-machine transactions. He pointed out that traditional banks are unlikely to open accounts for AI agents, so self-hosted crypto wallets will become the infrastructure of the AI economy. Ardoino emphasized that USDT, as the most traded stablecoin, will become the preferred payment tool for AI agents. Tether has already made arrangements for this, launching a wallet development kit in November last year, and establishing the Tether Data department and Tether AI platform this year, committed to building a peer-to-peer network that supports billions of AI agents. Tether has now moved its headquarters to El Salvador and continues to expand its investment in AI and blockchain infrastructure. The company believes that crypto assets will become the key settlement layer in the era of the machine economy.
According to Bloomberg, Zak Folkman, co-founder of the Trump family-related DeFi platform World Liberty Financial, said at the crypto industry conference "Permissionless" held in New York on Wednesday that the platform is receiving "strong interest" from several listed companies that want to use their token WLFI as a company reserve asset. Folkman also announced the launch of a new World Liberty Financial application. Folkman said: "We have a very close relationship with Michael Saylor-we really appreciate everything he has done in terms of strategy and how he spreads the idea of holding company reserves in the form of cryptocurrency. Several listed companies have expressed strong interest in using WLFI tokens as their company reserves."
Republic plans to tokenize shares in private companies like SpaceX and OpenAI
According to The Block, citing WSJ, the investment platform Republic plans to expand retail investors' access to private companies and will provide digital assets that track the performance of Musk's aerospace company SpaceX. Republic intends to acquire SpaceX shares and issue blockchain-based tokens to track holdings. In addition, the platform also plans to launch digital tokens that track the performance of private artificial intelligence companies OpenAI and Anthropic. Republic said the bill allows U.S.-based companies to raise up to $5 million a year from retail investors by issuing securities. Holders can purchase for $50 to $5,000, far below the minimum amount typically required to invest in private companies. Individuals who hold company tracking tokens for a full year can also exchange them on the cryptocurrency trading platform INX. It is not clear whether SpaceX will object to the tokenization of its shares.
According to Bloomberg, the former Blackstone dealmaker and Tether co-founder is raising $1 billion through special purpose acquisition company M3-Brigade Acquisition V Corp. to establish a crypto asset reserve fund. The fund will allocate multiple digital assets such as Bitcoin, Ethereum and Solana. Former U.S. Commerce Secretary Wilbur Ross and Binance Director Gabriel Abed will serve as vice chairmen, and former Hut 8 Mining CEO Jaime Leverton will serve as CEO. Cantor Fitzgerald is advising on this fundraising, and the final size may be adjusted. The SPAC has received investment from investment institutions under Tether co-founder Reeve Collins and former Blackstone private equity co-head Chinh Chu in May. It is worth noting that the fund adopts a diversified token strategy, which is different from the model of single Bitcoin holdings by institutions such as Strategy.
According to Bloomberg, Bill Pulte, director of the Federal Housing Finance Agency (FHFA), ordered Fannie Mae and Freddie Mac to develop a plan to include cryptocurrencies in the category of mortgage risk assessment assets. The directive requires the two agencies to study how to allow borrowers to count cryptocurrencies stored in centralized exchanges regulated by the United States as assets without cashing out in advance. The policy is still in its early stages, and the relevant plan must be approved by the boards of directors of the two agencies and the FHFA before it can be implemented. If implemented, this move will change the traditional way of assessing borrower qualifications in the mortgage industry, but it explicitly excludes crypto assets held by non-compliant exchanges. Note: Fannie Mae is a housing mortgage securitization agency funded by the US government, focusing on promoting liquidity in the housing loan market. Freddie Mac, the Federal Home Loan Mortgage Corporation, is the second largest US government-sponsored enterprise, second only to Fannie Mae in terms of business scale.
According to The Block, Zama, a confidential blockchain protocol focused on privacy, announced the completion of a $57 million Series B financing round, with a valuation of over $1 billion, led by Pantera Capital and Blockchange. The protocol will launch a testnet on July 1. Zama provides developers with a cross-chain privacy solution through fully homomorphic encryption (FHE) technology, supporting the deployment of "confidential smart contracts" on existing blockchains. The protocol currently supports 20 transactions per second, and plans to increase it to more than 10,000 transactions per second on a single chain through dedicated hardware accelerators. The project also uses multi-party computing (MPC) and zero-knowledge proof (ZKP) technologies, initially compatible with the Ethereum virtual machine, and will be expanded to the Solana ecosystem in the future.
Invesco and Galaxy submit new documents to the US SEC to join the Solana ETF competition
According to The Block, investment management company Invesco and crypto company Galaxy Digital jointly submitted a registration application for Solana ETF to the U.S. Securities and Exchange Commission (SEC), and plans to list it on the Cboe BZX exchange with the code "QSOL". Invesco will serve as the fund sponsor, Bank of New York Mellon will serve as the manager, Galaxy will be responsible for token procurement, and Coinbase will be the custodian of SOL assets. Currently, many companies are applying for Solana ETF, including VanEck, Bitwis and 21Shares.
Cboe BZX Exchange has submitted 19b-4 application documents to the US SEC for the Canary PENGU ETF
Cboe BZX Exchange has filed a 19b-4 application with the U.S. Securities and Exchange Commission (SEC) for the Canary PENGU ETF. In the "Text of Proposed Rule Changes" section of this document, it is stated that pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereto, Cboe BZX Exchange proposes to list and trade the shares of the Canary PENGU ETF pursuant to BZX Rule 14.11(e)(4) (Commodity Trust Shares).
According to Bloomberg, the prediction market Kalshi announced that it has completed a $185 million financing, with a valuation of $2 billion, led by crypto venture capital Paradigm. The platform allows users to predict and bet on future events such as sports events and entertainment scores. Kalshi was founded in 2018 by MIT graduates and participated in the Y Combinator incubation program in 2019. Previous investors include Sequoia Capital and others. As a federally regulated platform in the United States, its competitor Polymarket is prohibited from using it by US users because it is not registered with the CFTC. Recently, both platforms have announced cooperation with social media X, but Kalshi subsequently withdrew the relevant statement.
Animoca Brands flagship project Moca Network will launch digital identity L1 chain
According to CoinDesk, the flagship project of Web3 investment giant Animoca Brands, Moca Network, plans to launch a Layer-1 blockchain, Moca Chain, which aims to enable Web3 projects to achieve user identity identification and verification without relying on centralized platforms. Moca Chain will support cross-chain applications to verify user data, similar to the single sign-on service in the Web2 era. The Moca Chain testnet is expected to be launched in the third quarter, and the mainnet will be launched before the end of the year. Its native token MOCA will be used for validator staking, storage, data generation and verification fees. Yat Siu, founder of Animoca Brands, said that the project is committed to creating a digital ecosystem where users can truly own their own data, reputation and contributions, and promote the development of digital property rights.
Trump: Considering three to four candidates for next Fed chairman
Trump called Federal Reserve Chairman Powell "terrible" and said he knew three or four people who were contenders for the next Fed chairman. When asked if he was interviewing candidates to replace Powell, Trump told reporters: "I know who I would choose within three or four people." The main contenders reportedly include former Fed Governor Kevin Warsh, National Economic Council Director Hassett, current Fed Governor Waller and Treasury Secretary Bessant. Trump has repeatedly criticized Powell for not cutting interest rates and raised the idea of firing him or appointing a successor as soon as possible, although he often retracted these threats. Some analysts believe this is an effort by Trump to influence monetary policy through the "shadow Fed chairman" before Powell leaves office in May 2026.
Powell: We are reviewing and withdrawing several previous guidelines on cryptocurrencies
Federal Reserve Chairman Powell: We are reviewing and withdrawing several previous guidelines on cryptocurrencies.
Powell: The stablecoin industry has gradually matured and become more mainstream
Federal Reserve Chairman Powell: In the past few years, the stablecoin industry has gradually matured and become more mainstream.
Solana ecosystem re-staking protocol Fragmetric officially announced the launch of FRAG tokens and the establishment of the Fragmetric Foundation, aiming to accelerate the development of Solana ecosystem decentralization and liquidity re-staking platform. The FRAG-22 standard has achieved seamless access to Jito (Re)staking for a variety of LST assets, and has reached exclusive cooperation with node consensus networks such as Switchboard and Ping Network. FRAG tokens will empower community governance, and the first round of airdrops will account for 10% of the total, covering early users, cooperative DeFi protocol participants and community members.
An early Ethereum IC0 participant transferred 5,000 ETH to Kraken
According to Onchain Lens, an early Ethereum ICO participant transferred 5,000 ETH to the Kraken exchange, which is worth about $12.18 million at current prices. It is reported that the participant received 100,000 ETH for $31,100 during the ICO.
Trump: Conflict between Israel and Iran could break out again, perhaps soon
US President Trump said: The conflict between Israel and Iran may break out again, perhaps soon. I don't think Iran will return to the field of nuclear weapons development. If Iran returns to the nuclear program, we will be there. Iran has abundant oil resources. It does not rely on Israeli intelligence.
SoFi relaunches cryptocurrency investments and launches global remittance service
According to Bloomberg, SoFi announced that it will re-launch cryptocurrency spot trading on its platform, allowing users to buy, sell and hold digital currencies such as Bitcoin and Ethereum, and will also launch a blockchain-based global remittance function in the App. Previously, SoFi suspended its cryptocurrency investment business in 2023 due to stricter regulations. The company said that new guidelines recently issued by regulators have allowed national banks to provide some cryptocurrency services.
According to Cointelegraph, Ethena Labs has reached an agreement with the German Federal Financial Supervisory Authority (BaFin) to initiate a 42-day redemption process for USDe stablecoin holders. BaFin said that USDe holders must report redemption to Ethena GmbH before August 6, and after the deadline, the relevant claims will be handled by its offshore affiliate Ethena (BVI) Ltd. The agreement marks the official end of the four-month regulatory dispute between the two parties. Ethena GmbH will be officially liquidated in Germany, the European Union and the European Economic Area. It is not yet known whether it will return to the EU market in the future.
Nasdaq 100 hits new intraday record high
At the opening of the U.S. stock market, the Dow Jones Industrial Average opened nearly flat, the S&P 500 rose 0.2%, and the Nasdaq rose 0.52%. The Nasdaq 100 index set a new intraday record high. Coinbase rose about 6%, and Circle fell about 4%.
Grove receives $1 billion in support from Sky Ecosystem to promote CLO asset on-chain
According to CoinDesk, the decentralized financial protocol Grove was officially launched today and received a $1 billion allocation from the DeFi lending giant Sky ecosystem to invest in tokenized collateralized loan obligations (CLOs). Grove aims to introduce on-chain capital into regulated traditional credit markets and provide real-world asset exposure to crypto projects. The protocol is the latest autonomous unit "Star" under Sky's "Endgame" plan.
Li Lin purchased 5.9% of Tiger Brokers shares through his company Avenir Tech
According to SEC documents, former Huobi founder Li Lin indirectly holds 5.9% of Tiger Brokers (UP Fintech Holding Limited) shares, totaling 10,667,580 American Depositary Shares (ADS), through his wholly-owned Avenir Tech Limited. The announcement shows that Avenir Tech is wholly owned by Avenir View, which is wholly owned by Avenir Investment, and Li Lin is the sole shareholder of Avenir Investment.
According to GlobeNewswire, ProCap BTC, LLC, a Bitcoin financial services company founded by American investor Anthony Pompliano, purchased 1,208 new Bitcoins at an average price of $105,977 per Bitcoin, increasing the company's total Bitcoin holdings to 4,932. Previously, ProCap BTC had announced plans to reach a $1 billion business merger with Columbus Circle Capital Corp. I and plans to go public as ProCap Financial, Inc. The company said it will continue to increase its Bitcoin holdings, and it is expected that after the merger is completed, the size of Bitcoin on the books will reach $1 billion.
zkLend announced the closure of the project and the remaining funds will be used to compensate users
zkLend officially announced on the X platform that the team will gradually shut down the project. The team said that the recent security vulnerabilities have seriously affected user confidence, and the ZEND token has been delisted by major exchanges, resulting in limited liquidity and availability. The team decided to use the remaining $200,000 in funds to support the compensation fund for affected users and will continue to track the stolen funds. At the same time, zkLend will open source its audited code for further development by interested parties.
According to Barclaycard's official website, Barclaycard will no longer allow the use of its credit cards for cryptocurrency transactions from June 27, 2025. Barclaycard said the move was to prevent the risk of users being unable to repay their debts due to fluctuations in the price of crypto assets, and pointed out that crypto assets are not protected by the Financial Ombudsman Service and the Financial Services Compensation Scheme. Barclaycard is a well-known British credit card brand, affiliated with Barclays Bank, providing a variety of credit cards and financial services to individual and corporate customers.
According to the Wall Street Journal, investment platform Republic plans to sell digital "tokens" linked to the performance of SpaceX's private shares to investors through blockchain technology starting this week.
EU plans to ignore ECB warnings and push forward new stablecoin regulations
According to the Financial Times, the European Commission will announce new rules for the fast-growing stablecoin market in the coming days, rejecting the European Central Bank's warning that the new rules could threaten the stability of regional banks during periods of market volatility. The new guidelines will make it clear that stablecoins of the same brand issued outside the EU can be interchanged with versions allowed in the EU market, thus filling the gap in EU law in the field of cryptocurrencies. Previously, European Central Bank President Lagarde warned that stablecoins could pose risks to monetary policy and financial stability, calling for strict supervision when operating across borders. Despite this, the European Commission insisted on promoting relevant rules, emphasizing that risks are controllable, and suggested that national regulators conduct their own assessments and strengthen safeguards.
Binance will launch OLUSDT U-margin perpetual contract
According to the Binance announcement, Binance Futures will launch the OLUSDT U-based perpetual contract at 19:30 (Beijing time) on June 25, 2025, with a maximum leverage of 50 times. OL (LINK) has been launched on the Binance Alpha market before.
Humanity Protocol is now open for airdrops
According to the Humanity Protocol official X account, $H tokens are now listed on cryptocurrency exchanges, and users can now go to the designated page to claim the airdrop.
Binance: Users with 218 or more Alpha Points can participate in the Codatta Pre-TGE event
The Pre-TGE event launched by Binance Wallet and Codatta will be launched from 19:00-21:00 (UTC+8) on June 25, 2025. Users with 218 or more Binance Alpha Points can sign up to participate through the event banner in Binance Wallet. Participating in this event will consume 10 points.
