Track market-moving stories before they get noisy

[PRESS RELEASE – Panama City, Panama, July 6th, 2026]

Deribit by Coinbase, via its broker-dealer DRB Panama Inc., and SignalPlus, a leading provider of software and infrastructure solutions for crypto derivatives, today announced the launch of The Island, their fifth trading competition and biggest edition to date.

Running for 35 days, the competition features up to $600,000 USDC in prizes across solo and team competition, daily and weekly reward rounds, Mystery Box deposit mechanics, short-dated options challenges, and a Private Island jackpot.

Registration for The Island opens on June 29 at 08:00 UTC, with the competition running from July 6 at 08:00 UTC through August 10 at 23:59 UTC. To participate, users must trade through SignalPlus on Deribit. Competition standings will be based on eligible options and futures trading volume only, with options weighted 1.0 and futures weighted 0.5.

The campaign is designed around eleven core arenas spanning weekly volume competition, daily reward loops, team participation, referral-driven expansion, whale and block-trade incentives, and dynamic ecosystem progression in one connected experience. New mechanics in this edition include the Mystery Box deposit experience, a weekly P&L leaderboard, short-dated options reward multipliers, and the Flash Arena, where higher short-dated options volume unlocks more jackpot shots and reward opportunities.

Key Details

Total Prize Pool: Up to $600,000 USDC Registration Period: June 29, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Competition Period: July 6, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Eligibility: Open to eligible retail traders on Deribit via SignalPlus Registration Link: https://t.signalplus.com/deribitislandcompetition This campaign is run by DRB Panama Inc and is not targeted at or intended for residents of Dubai, UAE. T&Cs apply. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full.

Early Bird Incentives

Users who register by July 7th will receive 3 free Deribit options. Team captains who invite five or more friends to register by July 7th will have a chance to win a Cressi Velvet Wetsuit valued at 300 USDC. Among the first 10 participants to reach 200M in trading volume by July 12, one randomly selected winner will receive two RIMOWA suitcases valued at 5,000 USDC in total. “The Island brings together everything we want this competition to be: bigger scale, stronger participation loops, and a structure that rewards how active options traders actually engage,” said Luuk Strijers, Senior Director from Deribit by Coinbase. “With solo and team competition, short-dated options mechanics and aspirational rewards led by the Private Island jackpot, this is our most ambitious retail trading campaign yet.”

“We are excited to partner with Deribit by Coinbase once again on the latest edition of the competition,” said Chris Yu, CEO and Co-Founder from SignalPlus. “The Island is designed to make participation more dynamic and more rewarding, whether traders are competing on volume, teaming up with their network, or engaging through short-dated options and daily missions. Together, we are creating a more immersive experience for sophisticated retail traders.”

Competition Highlights include:

Core Arena: Weekly solo and team trading leaderboards designed to reward notional trading activity across individual and squad-based competition. Mystery Box Deposit Round: Users who register and maintain deposits for seven days unlock Mystery Box draw chances tied to guaranteed USDC prizes and premium rewards. Daily Reward Ecosystem: Daily individual and team missions encourage repeat engagement, with volume-based rewards and team milestone unlocks. Flash Arena: Short-dated options trading powers daily reward multipliers and jackpot-style shooting mechanics, including access to the Private Island reward opportunity. Block Arena: High-balance and block-trade participants can unlock fee rebates and luxury reward opportunities. Expansion Arena: Referral mechanics reward both community growth and successful invitations of higher-value traders. In addition to the Private Island headline reward, this year’s prize pool includes a range of premium rewards such as a Rolex Watch, Apple Vision Pro, NVIDIA Stock, Luxury Turkey Trip, Ledger Stax, Gentle Monster Sunglasses, Razer Keyboard, SOL spot rewards, trading fee coupons, and daily USDC prize pools.

The Island invites participants into a dynamic retail trading competition that combines strategic trading with team-based participation and a tiered reward structure. With every trade, participants move closer to exclusive rewards, from daily USDC prizes to the Private Island headline jackpot. The event begins today.

About Deribit 

Deribit by Coinbase is a centralized, institutional-grade provider of crypto derivatives ecosystem, specializing in Bitcoin and Ethereum options and futures. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency execution, advanced risk mitigation tools, and deep liquidity through a network of top-tier market makers. Deribit facilitates the majority of global crypto options volume and upholds rigorous proof-of-reserves practices to maintain the highest standards of integrity and transparency.

About SignalPlus

Signalplus provides trading software and infrastructure for crypto derivatives, helping professional and sophisticated retail traders access options, futures, and spot markets with advanced execution and analytics tools. SignalPlus delivers a comprehensive options trading suite tailored for crypto derivatives traders.

Source: Binance EN

This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Nine years ago, Binance launched with a mission to increase the freedom of money for people around the world. Today, we’re celebrating that journey with you - the community that made it all possible. To mark our 9th Anniversary, we’re launching a community-wide celebration across Binance Discord, Binance WhatsApp, and the Binance Angels X account. Nine days. Nine challenges. One shared milestone. Complete the challenges, show your Binance spirit, and earn your share of 7,000 USDC token vouchers in rewards! Activity Period: 2026-07-06 12:00 (UTC) to 2026-07-15 23:59 (UTC) Binance Discord Challenge: 4,000 USDC Prize Pool Our biggest community celebration starts on Discord. Over 9 days, we’re running a series of daily challenges inside our dedicated anniversary channels. Complete more challenges, unlock a bigger share of the rewards. How to Participate: Join the Binance Discord server and complete the daily challenges that will be shared in this channel.Submit your entry in this channel using the corresponding hashtag for each day. Reward Structure: During the Activity Period, eligible participants who fulfil the aforementioned criteria and can share the prize pool, according to the number of challenge(s) completed: Complete all 9 challenges: Share 2,000 USDC prize poolComplete 5 to 8 challenges: Share 1,200 USDC prize poolComplete 1 to 4 challenges: Share 800 USDC prize pool Binance WhatsApp Challenge: 2,000 USDC Prize Pool The celebration extends to our WhatsApp community. Follow the Binance WhatsApp channel daily, complete the corresponding Binance Survey for each challenge, and earn your share of the prize pool. How to Participate: Follow the Binance WhatsApp channel for all daily challengesComplete the daily challenges and submit the Binance Survey that will be attached in each daily post. Reward Structure: During the Activity Period, eligible participants who fulfil the aforementioned criteria and can share the prize pool, according to the number of challenge(s) completed: Complete 5 to 9 challenges: Share 1,200 USDC prize poolComplete 1 to 4 challenges: Share 800 USDC prize pool Binance Angels X Challenge: 1,000 USDC Prize Pool Binance was built by its community - country by country, city by city, person by person. To celebrate our 9th Anniversary, we’re inviting users around the world to share their Binance story on X. Show us where you are, when your journey with Binance started, and let’s mark this milestone together. How to Participate: During the Activity Period, complete the following steps and create a post on X with the following details to be eligible: Follow and tag the Binance Angels X account (@BinanceAngels);Use the hashtag #BinanceTurns9;Share a photo of yourself in your city or country;Share in which year you first started using Binance;Complete the submission survey via the official link on Binance Angels X account. Reward Structure The best 50 entries will share a prize pool of 1,000 USDC in token vouchers (20 USDC per winner). Winners will be selected based on creativity, authenticity, and Binance brand relevance, at Binance’s discretion. Terms & Conditions: These terms and conditions (“Promotion Terms”) govern users’ participation in the promotion above (“Promotion”). By participating in this Promotion, users agree to these Promotion Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Promotion Terms, and any other incorporated terms, the provisions of these Promotion Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only users who complete identity verification during the Activity Period can qualify for rewards in the Promotion. The products or features referred to above may not be available in your region. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country from which the services are accessed.Products and promotions may not be available in certain countries and to certain users. Content you see should not be construed as solicitation or advice to use any Binance feature. This content is not intended for users to which restrictions apply. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country. Applicable restrictions will be applied to all landing pages in links included in our informational messages.Users in the following countries could participate in the Campaign but they are restricted to be among the winners list: Afghanistan, Albania, Algeria, Andorra, Angola, Argentina, Australia, Austria, Bahamas, Bahrain (.com), Belgium, Benin, Bolivia, Botswana, Brazil, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cameroon, Canada, Central African Republic, Chad, Chile, China, Colombia, Comoros, Congo, Crimea region (and any non-government controlled areas of Ukraine), Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Ecuador, Egypt, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Falkland Islands (British Overseas Territory), Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar (British Overseas Territory), Great Britain (United Kingdom; England) Falcon Retail, Great Britain (United Kingdom; England) Titan Pro, Greece, Guernsey (Crown Dependency), Guinea, Guinea-Bissau, Haiti, Hong Kong, Hungary, Indonesia, Iran, Iraq, Ireland, Isle of Man (Crown Dependency), Israel, Japan, Japan (Local Exchange), Jersey (Crown Dependency), Jordan, Kenya, Kosovo, Kuwait, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Mali, Malta, Mauritania, Mauritius, Moldova, Monaco, Montserrat (British Overseas Territory), Morocco, Mozambique, Myanmar, Namibia, Netherlands, New Zealand, Niger, Nigeria, North Korea, Norway, Oman, Palestinian territories, Peru, Philippines, Poland, Portugal, Qatar, Romania, Rwanda, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Somalia, South Africa, South Korea, South Sudan, Sudan, Sweden, Tanzania, Thailand (.com), Togo, Tunisia, Turkey, Turkey (Local Exchange), Uganda, United Arab Emirates (Dubai Local Exchange "FZE"), United States, Venezuela, Yemen, Zambia, Zimbabwe.Rewards will be distributed in 1 month after the campaign ends.Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub. The validity period for the token voucher is set at 30 days from the day of distribution. Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance further reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this Promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all Participants shall be bound by these amendments. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-07-06

According to monitoring by OnchainLens, the smart money address 0x15a, which has been dormant for several months, deposited $1 million USDC into Hyperliquid and opened a 40x leveraged long position of 200 BTC, with the position valued at roughly $12.58 million. The address’s last on-chain activity occurred in March this year, and its historical cumulative profit from perpetual contracts stands at approximately $2.28 million.

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15h05 ▪ 5 min read ▪ by Evans S.

Summarize this article with:

The stablecoin market lost 1.9 billion dollars in one week, despite a capitalization still exceeding 311 billion. The decline remains limited in percentage, but it shows that the liquidity available in crypto is contracting slightly. Tether weighs the most in this drop, while Sky Dollar records the sharpest fall among the major stablecoins.

In brief The stablecoin market lost 1.9 billion dollars in one week. USDT accounts for 41% of the total decline. PYUSD grows despite the sector’s overall decline. Stablecoin: a moderate but visible decline The stablecoin market shows a total capitalization of 311.311 billion dollars. Over seven days, this represents a decline of 0.61%, or about 1.911 billion dollars withdrawn. This movement follows several months where stablecoins had rather served as a refuge in an unstable crypto market.

The drop is not a collapse. It remains low compared to the fluctuations observed on bitcoin, ether, or altcoins. But it deserves attention because the stablecoin supply often acts as a gauge of the available liquidity.

When stablecoin capitalization increases, it may signal the arrival of new dollars in the ecosystem. When it falls, it may indicate redemptions, capital outflows, or a rotation towards other financial products.

Tether’s USDT lost 791 million dollars over the week. Alone, this decline represents about 41% of the total stablecoin market drop. This is explained by its size: with 184.112 billion dollars capitalization, USDT still largely dominates the sector. Its market share reaches 59.14%. Therefore, Tether’s stablecoin remains the main settlement tool on crypto platforms. Even a limited drop of 0.43% moves several hundreds of million dollars.

Circle’s USDC also declines. Its capitalization reaches 73.098 billion dollars after a 1.05% drop over seven days. Together, USDT and USDC still represent more than 82% of the top 15 capitalization. This duopoly offers a clear market reading. When the two largest stablecoins fall simultaneously, the contraction does not come from a single isolated issuer. It affects the core of crypto liquidity.

Sky Dollar leads the decline of the stablecoin market Sky Dollar, or USDS, records the largest weekly drop among the top fifteen stablecoins. Its capitalization falls by 2.36%, to around 8.02 billion dollars. The decline remains contained, but it contrasts with the stronger dynamics recently shown by some competitors.

World Liberty Financial USD1 also declines by 1.77%, to 4.61 billion dollars. Global Dollar loses 1.19%, while Ethena USD slips 0.49%. Thus, the pressure focuses mainly on several mid-tier stablecoins. DAI resists better, gaining slightly 0.09% to 4.851 billion dollars. This gain is too small to change the market balance, but it shows that not all stable assets follow exactly the same trajectory.

PayPal’s PYUSD stands out in the opposite direction. Its capitalization grows by 4.25%, to 2.836 billion dollars. This increase confirms that some payment players continue to attract capital in the stablecoin sector despite the general retreat.

A liquidity signal to watch The 1.9 billion drop is not enough to announce a massive exit from the crypto market. The stablecoin sector remains close to its recent range, between 300 and 315 billion dollars. The movement looks more like an adjustment than a sudden flight.

However, the trend must be monitored over several weeks. A lasting contraction would reduce the dry powder available to buy digital assets. Traders often use stablecoins as a waiting reserve before returning to bitcoin, ether, or riskier tokens.

The stablecoin market is also changing in nature. Alongside settlement tokens like USDT and USDC, new products seek to offer yield or exposure to tokenized Treasury bills. Circle USYC, BlackRock BUIDL, and Ondo USDY show that the boundary between stablecoin, money market fund, and tokenized asset is becoming finer.

This transformation can attract more stable capital, but it can also fragment the market. Users no longer just seek a liquid digital dollar. Some want yield, others prioritize compliance, speed, or payment access. That is why the current decline must be read with nuance. The stablecoin market contracts this week, but it remains at the center of crypto usage, notably in cross-border payments.

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Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Stablecoins just had their biggest month ever, and Visa has the receipts. The payments giant’s Onchain Analytics dashboard recorded $1.79 trillion in adjusted stablecoin transaction volume during June, narrowly eclipsing the previous record of $1.78 trillion set back in February.

Visa filters out inorganic activity like bot-driven trading and wash transactions, meaning this figure represents something closer to actual humans and institutions moving actual money.

USDC is running the show The breakdown by stablecoin tells a clear story of market dominance shifting. USDC, the dollar-pegged stablecoin issued by Circle, accounted for roughly 67% of the total adjusted volume at $1.21 trillion. USDT, Tether’s longstanding market leader by supply, captured about 32% at $576 billion.

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The activity was heavily concentrated on two networks: Solana and Base. Solana’s appeal is straightforward, offering sub-cent transaction fees and near-instant finality that make it a natural home for high-frequency stablecoin transfers. Base, Coinbase’s Layer 2 network built on Ethereum, has quietly become a preferred rail for USDC activity, which makes sense given Coinbase’s role as a co-founder of the USDC ecosystem through its relationship with Circle.

The 63% jump from May to June is striking on its own, but the year-over-year comparison is even more dramatic. A 125% increase signals that stablecoin adoption isn’t just growing. It’s accelerating.

The bigger picture: $10.2 trillion in twelve months Cumulative adjusted stablecoin volume over the trailing 12 months has reached approximately $10.2 trillion, according to Visa’s dashboard, which is powered by blockchain data firm Allium.

Visa has been tracking stablecoin performance since 2019. The company’s methodology, built in partnership with Allium Labs and Artemis, specifically aims to capture organic user flows rather than inflated on-chain metrics.

The dashboard’s rolling 30-day figure as of early July was hovering near $1.8 trillion, suggesting June wasn’t a one-off spike but part of a sustained upward trajectory.

The total market capitalization of stablecoins has crossed $322 billion. Visa’s own stablecoin settlement pilot has expanded across nine different blockchain networks, achieving an annualized run rate of $7 billion as of April. The company processes more than $12 trillion annually across its card network.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Summer.fi has reportedly been exploited, with roughly $6 million drained so far. Blockaid flagged the exploit in a post on X on Monday.

The security firm published the attacker’s address, the exploit contract, and the affected Lazy Summer contracts. 

DeFi Protocol Summer.fi Reportedly Loses $6 Million in Active ExploitBlockaid said its detection system surfaced the incident on Monday morning, estimating about $6 million in losses at that stage. The firm highlighted the on-chain addresses associated with the attack.

Exploiter address: 0x7BF716167B48CF527725722C6d79494b45B3BDCa Exploit contract: 0x0514F827C129C16418a0933E03C99A6AF982FC61 Affected Summer.fi / Lazy Summer contracts: 0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xA9ca4909700505585B1aD2a1579dA3b670FFA9c4 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 Security firm PeckShield identified the main affected vault as LazyVault_LowerRisk_USDC (LVUSDC), which Block Analitica risk-manages. The firm said that the vault’s displayed APY briefly spiked to about 2.08 million %.

“The largest current holder is 0x8741e8f…4130, which appears to be associated with Torben Jorgensen (UDHC), and has deposited ~8.6M USDC into this vault,” the post read.

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Summer.fi, formerly Oasis.app, is the front-end for the Lazy Summer Protocol, an onchain vault system that automatically routes deposits across DeFi yield sources like Aave and Morpho.

The network’s native token SUMR traded near $0.00193, down 5.3% over 24 hours. The move diverged from the broader market, which rose more than 1% on the day.

SUMR Token Price Performance. Source: CoinGeckoThe incident marked the second crypto exploit recorded in July, according to DeFiLlama. It follows a series of attacks in June, when crypto platforms lost $75.87 million across 40 hacks, with the Humanity Protocol breach accounting for the largest loss.

BeInCrypto has reached out to Summer.fi for comment. This is a developing story.

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Leading cryptocurrencies gained alongside stock futures on Sunday as investors braced for the release of the Federal Reserve’s June meeting minutes.

Crypto Market LiftsBitcoin spiked late evening, nearly breaking $64,000, as trading volume increased marginally. Ethereum broke through $1,800, with a 41% jumpe in 24-hour volume, while XRP and Dogecoin inched higher.

Over $160 million was liquidated from the cryptocurrency market in the last 24 hours, with $108 million in bearish short positions, according to Coinglass data.

Bitcoin’s open interest rose 1.21% over the last 24 hours. Meanwhile, retail and whale derivatives traders remained net long on the apex cryptocurrency.

"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.13 trillion, representing a 2.39% increase over the last 24 hours.

Stocks Futures RiseStock futures edged higher overnight on Sunday. The Dow Jones Industrial Average Futures rose 82 points, or 0.15%, as of 8:45 p.m. EDT.  Futures tied to the S&P 500 spiked 0.54%, while Nasdaq 100 Futures rallied 1.36%.

Eyes will be on the Federal Reserve this week as traders await the minutes of the June meeting, the first chaired by new Chairman Kevin Warsh, which are due on Wednesday. The central bank kept the federal funds rate steady in a target range of 3.50% to 3.75%

Macro Pullback Phase?“Stablecoin contraction historically reflects a macro pullback phase, as active capital is redeemed for fiat or sidelined during broad market corrections,” the analyst stated.

Michaël van de Poppe, another popular cryptocurrency commentator, expressed optimism for a “shallow” BTC correction followed by a swift rebound, viewing it as the catalyst to reclaim the 200-week moving average, around approximately $62,500-$62,600, and exit the bearish price action.

Photo: KateStock / Shutterstock

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Bitcoin

5 July 2026 | 16:20 It looks like Bitcoin's problem right now isn't that holders have lost faith. It's that the money needed to push price higher has drained out of the system.

Key Takeaways Stablecoin exchange inflows sit at an 18-month low, down 56% from the mid-2025 rally. USDC and USDT supply has been contracting since November 2025, a demand gauge turning negative. Three independent methods converge on the same floor: $58,000-$60,000. BTC trades at $62,794, bouncing off its 50-month average at $59,878. Four separate on-chain lenses all describe the same market from different angles, and they agree on the structure while disagreeing only on how deep it goes: this is a liquidity drought, not a conviction collapse.

The Fuel Gauge Is Near Empty Start with the clearest signal. According to CryptoQuant analyst Zakariya Sharif, mean stablecoin inflows across all exchanges sit at 21,557, down 56.25% and the lowest in 18 months. During the mid-2025 rally, those inflows regularly spiked between 100,000 and 280,000.

ERC20 stablecoin exchange inflow and Bitcoin price correlation. One isolated spike in May 2026 failed to reverse the trend, and flows have flatlined since. Sharif’s framework is specific: inflows staying below 30,000 for two more weeks points to a retest of $58,000-$60,000, while a sustained recovery above 80,000-100,000 would be the first genuine sign buyers are returning.

The supply side of stablecoins tells the same story. CryptoQuant’s Darkfost notes USDC’s market cap is down 3.6% and USDT down 2% over 30 days, a contraction running since November 2025.

30-day market cap growth of major stablecoins versus Bitcoin price. The mechanism is what makes this meaningful: issuers mint new tokens when demand rises and burn surplus when it weakens, so stablecoin supply is itself a demand gauge. A net burn means more capital has left crypto than entered. Inflows at 18-month lows and stablecoin supply shrinking are the same fact measured twice.

Where the Money Went This is where a growing number of prominent voices offer an explanation, and a reason the drought may not be permanent. Several major figures argue the liquidity didn’t vanish, it rotated into AI. Raoul Pal, the Real Vision CEO and former Goldman Sachs executive, frames the crypto weakness as the product of negative excess liquidity that pulled capital into AI and semiconductor sectors, a condition he now says is beginning to reverse as broader liquidity measures turn positive.

Arthur Hayes has put numbers on it, estimating that hyperscalers and AI firms issued roughly $1.5 trillion in debt between late 2022 and mid-2026, almost exactly matching the rise in M2 money supply over the same period, leading him to argue “AI sucked up all created dollars.” Tom Lee and CZ have pointed to the same rotation pattern, US semiconductor ETFs pulled in more than $20 billion since April while Bitcoin and gold ETFs saw outflows, and the shared thesis among them is that this capital tends to rotate back toward crypto once liquidity conditions ease and crypto reclaims performance leadership. It’s a view worth weighing as the optimistic counterpoint, though it remains a thesis about what could happen, not a confirmed turn.

That framing points to a deeper structural shift underway, one Michael Saylor has articulated more directly than most. Saylor argues that “Bitcoin evolves by not changing,” meaning its next phase will come not from frequent protocol upgrades but from being woven more deeply into global finance.

https://t.co/z65C1oYdaw

— Michael Saylor (@saylor) July 5, 2026

In his view, the coming decade will be driven by capital flows rather than miner issuance, with demand increasingly sourced from ETFs, corporate treasuries, sovereign reserves, bank credit, derivatives, insurance, collateral markets, structured credit, and global savings. “The halving tightens supply. Capital flows set the growth trajectory,” as he puts it, reflecting his conviction that institutional adoption, not the protocol itself, is the engine of Bitcoin’s long-term growth. It’s a useful lens for the current moment: if capital flows are what ultimately move Bitcoin, then the stablecoin drought this article describes is precisely a capital-flow problem, and the case for a recovery rests on those flows turning, exactly as the AI-rotation thesis suggests they could.

How Deep Is the Bottom? The depth gauges agree the market is in a bottom-formation zone, but not yet at historical extremes. Darkfost, using a chart by Joao Wedson, points to the True Market Mean, the average price of active Bitcoin excluding long-dormant coins, sitting near $76,700. That level acted as resistance in May, when holders exited at break-even rather than keep holding.

Bitcoin True Market Mean Price and AVIV Ratio analysis. The related AVIV ratio sits around 0.8, meaning the active cohort holds an average 20% loss. Prior bear-market bottoms printed 0.5-0.6, or 40-50% losses, so this is significant but not yet capitulation-grade. Darkfost’s own hedge is worth keeping: ETF-era adoption may mean full historical devaluation isn’t required, though nothing yet contradicts the cyclical pattern.

CryptoQuant’s Yonsei adds another measure. Just 51.9% of circulating supply is in profit, in bear/bottom territory below 55% since June and trending down since October 2025, approaching the 44% that marked the 2022 absolute bottom. That 2022 bottom phase lasted roughly eight months; mapped onto this cycle, the phase could stretch into September or October 2026.

Bitcoin supply in profit percentage trends. Every depth gauge says the same thing with different numbers: AVIV at 0.8 versus 0.5-0.6 at prior bottoms, Supply in Profit at 51.9% versus 44% in 2022, drawdown around 50% versus 60-80% in prior cycles. The 2022 template has room left. The open question is whether ETF-era adoption shortens the distance.

The Levels All Point to One Floor Here’s the detail that could tie everything together. On the monthly chart, July’s candle is up 7.29% to $62,794 after a June low of $57,700, and it’s bouncing off a level that matters: the 50-month simple moving average at $59,878. This is the same average Bitcoin never lost during the entire 2024-2025 run. Monthly RSI at 43.14 is the weakest of the cycle, while the 100-month average at $40,488 stands as the historical bear-market floor reference.

Monthly BTC/USD price chart on Bitstamp / Source: TradingView What makes the $58,000-$60,000 zone compelling is that three completely independent methodologies land there. Sharif’s on-chain risk zone ($58,000-$60,000), the June price low ($57,700), and the 50-month SMA ($59,878) all sit in the same band. Flow analysis, price history, and long-term trend structure, three unrelated approaches, identify the same floor. Above price, the ceiling story converges too: the True Market Mean at $76,700 is where active holders break even, which functionally caps rallies until either price consolidates long enough for the cost basis to fall or demand strengthens enough to absorb those break-even sellers.

That said, this is still crypto, a market that has a long history of surprising even the most aligned models, and if there’s one thing the past cycles have taught, it’s that when every analyst and dataset agrees on a floor, the market is fully capable of slicing straight through it to levels no one was positioned for.

Three Frameworks, One Timeline The timing estimates cluster just as tightly. Yonsei_dent’s Supply-in-Profit template points to September-October. Markus Thielen’s earlier analysis mapped a Q4 bottom. Rekt Capital’s estimate that the cycle is 71% complete implies late 2026. Three unrelated frameworks land in the same quarter, and that clustering is itself information worth stating plainly, rather than any single forecast carrying the weight.

This is also corroborated outside CryptoQuant. A CEX.IO report covered by CryptoSlate found total stablecoin supply contracted to $312 billion in Q2, the first quarterly decline since 2023, with transaction counts posting their largest drop on record. The liquidity story isn’t one analyst’s read; it’s showing up across independent datasets.

The Sequence to Watch The value in stacking these signals is that they have an order, a sequence that could confirm a genuine turn rather than a false start:

First, stablecoin supply must stop burning. Issuance is the fuel gauge, and it has to stabilize before anything else matters. Then, exchange inflows recover above 80,000-100,000. That’s the fuel actually reaching the engine. Then, Supply in Profit reclaims 55%. The marker of the phase transition out of bottom territory. Finally, price has to take on $76,700. The structural exit test, where break-even sellers get absorbed. Right now the market sits at step zero, holding the $58,000-$60,000 floor while it waits for step one. A monthly close below the 50-month average at $59,878 before that liquidity turn arrives could invalidate the floor thesis and open the path toward the deeper historical targets. Until the dollar side of the order book refills, this is a market resting on a well-defined floor, with conviction intact and only the fuel missing.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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COIN and CRCL stock remain two major crypto equity names as investors compare different growth stories. Coinbase provides a wide range of trading, custody, staking, subscriptions, and institutional services. Circle provides investors with a direct stablecoin investment in terms of USDC growth and reserves income. Both stocks increased on July 5, but their 2026 growth will rely on various catalysts.

COIN and CRCL Stock Show Two Different Crypto Bets Coinbase is the bigger company and has a broader profile of the crypto market. COIN closed at $165.48 on July 2 after gaining 3.92% on Nasdaq. The crypto stock added $6.24 during regular trading before moving slightly higher after the close.

Coinbase was worth approximately $43.81 billion in the market. That rating places it higher among publicly-traded crypto firms. 

The company is profitable through trading fees, custody, staking, and stablecoin activity, subscriptions, and institutional services. This combination provides COIN with multiple channels of growth.

COIN stock Nevertheless, Coinbase remains reliant on crypto market activity. Its recent quarterly performance was under pressure by decreased trading volumes. The Q1 revenue was close to $1.43 billion where the transaction revenue was poor. 

A quarterly loss was also posted by the company as the momentum in the market waned.

That weakness is still a significant risk to investors. Nevertheless, COIN can be profitable in case crypto trading gains in 2026. 

The increased activity of Bitcoin, Ethereum, and altcoins could contribute to the revenue of Coinbase. The demand in institutions could also favor its custody and subscription business.

Circle Offers Higher Growth From USDC Circle’s price is smaller than Coinbase but has a more distinct story in terms of a stablecoin. CRCL closed at $64.62 on July 2 after rising 4.31% on the NYSE. The stock gained 2.67 in the normal trading. 

Circle was worth around 17.23 billion dollars. USDC is still one of the biggest regulated stablecoins and its primary driver. USDC circulation is reported to have hit 77 billion in Q1 2026. That was 28 percent higher than last year.

The USDC on-chain transaction volume also hit 21.5 trillion. That was a 263% annual growth. The revenues and reserve earnings increased by 20% to $694 million. These values back CRCL as a specialized stablecoin stock.

Nevertheless, Circle has definite risks. The firm relies on the reserve income based on USDC backing assets. Further drops in interest rates would decrease that income in the long run. Increasing competition in stablecoins may also impact margins and market share.

COIN and CRCL Stock Outlook: Key Levels to Watch COIN is holding above the $165 area after its recent gain. There was a brief pullback to buyers around $162.50. That level is now near term support. Any fall below would reveal the next of $159.24.

On the positive side, COIN would have to sell off more volume to break even at $166. Breakout may lead to a move towards $168. In case buyers are active, the next target is close to $170.

CRCL is trading close to the $65 level. Its support at its first level is around 64. Any downward movement below that region might undermine the sentiment in the short term. Traders may then watch $63 and $61.95.

CRCL stock In case CRCL breaks above 65, the target is close to 66. The stock might be driven to $67.50 by the stronger momentum. On the whole, CRCL can have greater increase in headlines. COIN can do more well among investors wishing to have broader crypto exposure.

This week, the digital asset industry’s discussions centered on topics including AI, the EU’s Markets in Crypto-Assets (MiCA) regulation, stablecoins, and Bitcoin. On the AI front, multiple industry insiders noted that current market capital is shifting from digital assets to AI infrastructure development, and future value in the AI sector may be captured more by application layers and infrastructure providers rather than just large language model developers. Additionally, some argue that if the U.S. government acquires equity in OpenAI, it could further exacerbate the trend of centralization in the AI industry. On the regulatory side, as MiCA’s transition period has officially ended, EU crypto asset service providers must now obtain full MiCA licenses to continue operating. Industry players believe that regulatory compliance will gradually become a key competitive advantage for crypto payment and digital asset service providers in Europe. Regarding stablecoins, the industry continues to focus on the newly launched Open USD (OUSD). Analysts believe its ecosystem, involving over 140 institutions including Visa, Mastercard, Stripe, Coinbase, BlackRock, and BNY, is poised to challenge the existing stablecoin market landscape (such as USDC) by leveraging distribution advantages. However, some point out that OUSD still faces challenges including liquidity cultivation and governance coordination. On the Bitcoin front, market views are divided over recent capital operations by Michael Saylor’s firm Strategy. Some analysts argue that the company’s recent financing arrangements mean it may still sell Bitcoin to meet future funding needs; others believe the move effectively eases market concerns about its liquidity and default risks, representing a positive risk management measure.

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Current funding rates on major centralized (CEX) and decentralized (DEX) exchanges show that bearish momentum for Bitcoin (BTC) and Ethereum (ETH) is easing, with market sentiment remaining neutral to slightly bearish.

According to Coinglass data, current funding rates on major centralized (CEX) and decentralized (DEX) crypto exchanges show that the bearish sentiment for Bitcoin (BTC) and Ethereum (ETH) has weakened compared to earlier, but most platforms have not yet formed sustained bullish signals. Specifically, BTC funding rates on multiple platforms hover around the 0.0100% benchmark line, reflecting an overall neutral-to-weak pattern. For ETH, funding rates on multiple platforms have risen above the 0.005% threshold, with ETH’s long sentiment recovering slightly stronger than BTC’s, though no broad bullish signal has emerged yet. BlockBeats Note: Funding rates are fees set by crypto trading platforms to maintain the balance between perpetual contract prices and their underlying asset prices, typically applied to perpetual swaps. They function as a fund exchange mechanism between long and short traders; platforms do not collect this fee, instead using it to adjust the cost or return of holding contracts to keep contract prices aligned with underlying asset prices. A 0.01% funding rate is the benchmark. A rate above 0.01% indicates widespread bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.

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The probability that the CLARITY Act will be signed into law in 2026 has risen to 52%.

According to Polymarket data, the probability that the CLARITY Act will be signed into law in 2026 has climbed to 52%, a 12-percentage-point increase from July 3. On the news front, the U.S. Major County Sheriffs' Association (MCSA) announced that after initially raising concerns about how the bill would affect illicit financial investigations, it no longer opposes the CLARITY Act. Analysts note that the MCSA’s shift in stance has eliminated a key barrier to the bill’s advancement, improving its feasibility of moving to a Senate vote. Still, opposition from the banking sector to stablecoin yield products and DeFi regulation remains a major source of uncertainty.

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South Korean chip stocks have extremely high leverage concentration, with the asset size of SK Hynix’s leveraged ETF exceeding four times its average daily trading volume.

The Kobeissi Letter stated in a post that leverage levels in South Korean chip stocks have spiraled out of control. Total assets of single-stock leveraged and inverse ETFs tracking SK Hynix currently stand at roughly $19 billion, more than four times the stock’s approximately $4.5 billion average daily trading volume (ADTV) this year. Meanwhile, leveraged ETFs linked to Samsung hold around $12.4 billion in assets, a 176% premium over its roughly $4.5 billion ADTV. The Hong Kong-listed 2x long SK Hynix ETF has about $13 billion in assets, roughly double SK Hynix’s average daily stock trading volume — the largest gap among major stocks tracked by leveraged ETFs. By comparison, leveraged ETFs tied to Micron Technology (MU) hold roughly $9.9 billion in assets, below its approximately $27.5 billion ADTV; leveraged ETFs for Tesla (TSLA) and NVIDIA (NVDA) have around $6 billion and $5.6 billion in assets respectively, also far lower than their respective ADTVs of roughly $23.6 billion and $28.8 billion. Leverage concentration in South Korean chip stocks has reached extremely high levels.

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Intel is considering adopting a double-sided power supply architecture for its 1.4nm process technology to catch up with TSMC and Samsung.

Intel is considering adopting a dual-side power supply architecture (utilizing both front and back sides) for its 1.4-nanometer ultra-fine process to catch up with competitors. Industry sources said Intel originally planned to use PowerDirect, a dedicated backside power supply technology, for its 1.4-nm base process 14A, but is now considering introducing a dual-side architecture that leverages both front and back sides in its subsequent 14A2 process. Intel previously announced plans to achieve 1.3x higher chip density on its 14A process compared to 18A; the 14A process targets an M0 pitch of around 28nm, while the 14A2 process could push the M0 pitch to 21nm via a half-node improvement. Intel will maintain a backside power network as its primary setup, while reallocating some front-side metal interconnects for auxiliary power and clock signals to compensate for insufficient power headroom caused by scaling and lithography limitations. Intel’s 14A process is scheduled to enter risk production in 2028 and mass production in 2029. The chipmaker needs to release the 0.9 version of its 14A process design kit (PDK) to external customers this October, and secure firm orders from large fabless clients within the following 18 months. By comparison, TSMC plans to ship its true 1.4nm A14 products in 2028, while Samsung Electronics aims to commercialize its SF2Z, a modified 2nm process utilizing backside power supply technology, in 2027.

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Maji adds to his Ethereum (ETH) long positions, bringing the total position value to $16.56 million, with current unrealized profit of $400,000.

According to HyperInsight’s monitoring, crypto personality "Big Brother Ma Ji" Huang Licheng has added to his ETH long positions. He currently holds a 25x leveraged long position of 9,390 ETH (valued at $16.56 million), with an average entry price of $1,721.04 and an unrealized profit of $400,000.

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South Korea plans to establish a future fund using tax dividends from its semiconductor industry.

South Korea's Presidential Office Chief of Staff Kang Hoon-sik said Sunday that the government plans to use additional tax revenue from the semiconductor industry boom to establish a future fund, earmarked for investing in economic growth engines, supporting the younger generation, and addressing widening social inequality. The government will leverage the "Future Response Fund" to finance major national investment projects and boost the country’s long-term competitiveness. Kang emphasized, "At this critical juncture that will shape South Korea’s future, we must not squander the additional tax revenue generated by factors like the semiconductor boom." He added that the fund will support the government’s three "super projects," foster new growth drivers, tackle what he termed "K-shaped" economic polarization, and provide housing, entrepreneurship, and employment assistance for people aged 20 to 39. The proposed fund serves as a cornerstone of President Lee Jae-myung’s goal of "making South Korea irreplaceable globally," and he urged the government to collaborate closely with the ruling party to advance the initiative promptly. (Jin10)

13 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Solana infrastructure sees a game-changing update! What does ERPC’s x402 integration mean for USDC payments?

Europe’s largest fintech platform, Revolut, will drop Tether’s USDT by 31st of August. However, USDT deposits will be disabled from the platform by the end of this month.

The tech giant informed users that those who fail to transfer their funds by the end of August will have their USDT automatically exchanged to fiat. 

The move is likely informed by regulatory pressure, according to analyst Max Karpis. He noted, 

Revolut is delisting USDT on 31 Aug 2026 (regulatory/risk reasons). Not long ago, they expanded support to include zero-fee transfers and 1:1 USDT/USDC swaps. Now a reversal. Compliance hits again.

EU’s crypto regulatory framework, MiCA, is now in effect. Hence, the move is likely to block non-compliant stablecoins and tokens. 

Tether CEO deems MiCA as ‘dangerous’ for stablecoins Interestingly, Tether CEO Paolo Ardoino has been open about not seeking MiCA approval. In fact, he argued that the regulation is “bad” and “dangerous” for stablecoins. 

The problem I have with MiCA is that it’s very dangerous for stablecoins. What will happen next year is that a few banks in Europe will go belly up because of MiCA’s requirement that 60% of stablecoin reserves be kept in uninsured cash deposits in European banks.

He also noted that only small banks accept crypto firms, as major ones like UBS are unwilling to accept stablecoin business. For Ardoino, this would be risky as a +20% redemption on USDT could quickly trigger a banking crisis. 

He believes that MiCA is designed to position the Digital Euro to control fund flows. Hence, he opted to keep USDT safe for emerging markets that rely heavily on it. 

Whether the same risk applies to Circle’s USDC or Euro stablecoin EURC is not clear. However, Circle has MiCA approval and seems to have benefited last month as the MiCA transition period came to an end. 

According to Visa data, USDC saw $1.21T in transfer volume in June, doubling Tether’s USDT. This was the second highest monthly transfer volume following February’s record $1.28T amid growing adoption across most blockchains.

Source: Visa  In fact, less than a week into July, USDC’s volume was 3x that of USDT, underscoring a likely shift tied to the MiCA framework. Users across the EU or those sending money to the continent may be opting for USDC instead of USDT. 

The shift was also evident across US dollar and Euro-based stablecoins. The latter grew 11x while USD-based stablecoin volumes shrank.

Source: TRM Labs Tether’s USDT still dominates the stablecoin market in terms of supply though. It remains to be seen whether Circle will close the gap as Revolut and other EU platforms continue to delist USDT.  

Final Summary Revolut will delist USDT by August 31st and stop accepting deposits from the stablecoin by the end of July. USDC transfer volume hit $1.21T, doubling Tether’s USDT, further underscoring MiCA’s impact on stablecoin adoption. 

ZAMA: Earn rewards by supplying to the Steakhouse Confidential Prime USDC V2 vault on Morpho

PANews July 4 news, according to on-chain analyst Yu Jin's monitoring, the crypto market has been in a downturn for half a year. The total market capitalization of dollar stablecoins shrank by about $10 billion, currently standing at $300 billion. A large amount of outflow capital shifted to the U.S. stock market, which has shown a more pronounced wealth effect this year.

The latest quarterly fund movements show clear polarization:

Tether (USDT): total decreased from about $189.8 billion to $184.1 billion, net outflow of about $5.7 billion

USD Coin (USDC): total decreased from about $79.6 billion to $73 billion, net outflow of about $6.6 billion, making it the stablecoin with the largest outflow this cycle

Circle, the issuer of USDC, saw related token performance under pressure, with its stock price also falling from around $136 back to near $64. Market growth expectations have cooled.

In contrast, the stablecoin USD1 recorded a net inflow of about $500 million over the same period, with its total rising from around $4.1 billion to $4.6 billion, becoming one of the few assets to grow against the trend. However, this growth is partly attributed to interest rate subsidy incentive mechanisms on trading platforms, such as activities on some exchanges that guide user holdings and trading behavior.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Open Standard’s announcement of its Open USD stablecoin initiative has sparked debate in South Korea, with several major companies raising objections. Despite being listed as consortium members, some firms have stated they never officially joined the project and only saw their names mentioned after the news spread in local media.

Back-to-back statements from listed companiesOn June 30, Open Standard declared that Open USD, a stablecoin pegged to the US dollar, is set for launch in the coming months. The company revealed that over 140 organizations—including financial institutions, payment service providers, tech leaders, and crypto firms—would participate in the venture.

The announcement named international powerhouses such as Visa, Mastercard, BlackRock, and Google, alongside Korean heavyweights like Samsung Electronics, Dunamu, Shinhan Financial Group, KakaoBank, K Bank, Hyundai Card, KB Kookmin Card, BC Card, Hana Card, Samsung Card, Woori Card, NH Nonghyup Card, and Hanwha. However, numerous Korean companies on the list have emphasized that their participation is not finalized.

Samsung Electronics clarified there have been no official talks with Open Standard and that it has no information about any prospective role within the consortium. Dunamu, Shinhan Financial Group, and K Bank issued similar statements distancing themselves from the project.

According to company representatives, they were merely approached to gauge interest in the initiative. While these firms confirmed they might consider the offer, they made it clear that this does not constitute official approval or partnership. The situation has heightened questions about the actual status of several names highlighted in the Open USD announcement.

The structure behind Open USDOpen Standard stated that Open USD is being developed as a utility-focused stablecoin, with management shared by participating companies during the development phase. Importantly, the company stressed that the project would not function as a decentralized autonomous organization (DAO) or use a profit-sharing partnership model.

In the proposed system, participants can mint Open USD tokens by depositing US dollars into a reserve account. Conversely, they can return tokens to the issuing institution to redeem their cash. Open Standard assured that there will be no fees for these transactions and no restrictions on the number of operations that can be performed.

Mini glossary: A stablecoin is a type of digital token typically pegged to an asset like the US dollar. In reserve-backed models, the issuer aims to hold cash or similar assets that match the value of tokens in circulation.

Revenue sharing model stands outOpen Standard explained that its revenue model will be built around profits generated from reserve assets. After deducting operational expenses, earnings from the reserves will be distributed among participating members. This diverges from the Tether and Circle models, where issuers keep reserve-generated income internally.

Industry circles in South Korea see this project as a potential competitor to USDT and USDC. Nonetheless, companies named in the initial announcement stress that the nature of Open USD’s partnerships remains unclear and is yet to be finalized.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Samsung Electronics and several major Korean financial companies deny formal ties to Open USD, the dollar-pegged stablecoin that launched this week with a claimed alliance of more than 140 corporate partners.

The pushback, first reported by Chosun Biz on July 3, tests the credibility of one of the largest partner rosters ever assembled in the stablecoin sector.

Alleged Open USD stablecoin partner list Korean Partners Say They Never Signed OnOpen Standard announced Open USD (OUSD) on June 30, promising members fee-free minting and a share of reserve income. Visa, Mastercard, Stripe, BlackRock, and Coinbase headline the roster.

The list also names 13 Korean entities, including Samsung Electronics, Dunamu, Shinhan Financial Group, K Bank, and seven card issuers. Within days, at least four of them distanced themselves.

“There were no official consultations, and we do not even know what role we would play (in the consortium),” local media Chosun Biz reported, citing a Samsung Electronics official.

Meanwhile, Shinhan, Dunamu, and KBank said Open Standard had simply floated the idea of joining. They replied that they would review it, yet their names appeared as members.

An official at another listed firm described a similar experience to the outlet.

“We learned that we were included as members of the OUSD consortium through domestic news… We are perplexed to be included as members.”

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Open USD Faces Credibility Test Before LaunchThe case echoes a costly precedent. Facebook’s Libra consortium debuted in 2019 with 28 founding members, including Visa, Mastercard, and Stripe. All three quit within four months, and the renamed Diem sold its assets in 2022.

How Libra Was Killed.

I never shared this publicly before, but since @pmarca opened the floodgates on @joerogan’s pod, it feels appropriate to shed more light on this.

As a reminder, Libra (then Diem) was an advanced, high-performance, payments-centric blockchain paired with a…

— David Marcus (@davidmarcus) November 30, 2024 The stakes are high because the debut dragged Circle stock down 17% on launch day. Tether (USDT) and USD Coin (USDC) control over 80% of a market worth some $311 billion, per DefiLlama data.

OUSD’s revenue sharing could also pressure USDC yields in decentralized finance (DeFi).

Some commitments look firm, however. Stripe Technology President Will Gaybrick confirmed OUSD will become the default stablecoin for businesses on its platform.

That pledge follows Stripe’s $1.1 billion purchase of Bridge, the stablecoin firm founded by Open Standard chief Zach Abrams.

Circle, for its part, continues to deepen its bank distribution, with Standard Chartered expanding institutional USDC access in Dubai.

Regarding the OUSD consortium logos, I also spoke to a few companies from the list as a number of them are clients of ours (OpenAssets) and they said they never signed or agreed to anything. Either the media deeply twisted something or the participant list is misleading. https://t.co/xhQa28snBJ

— Gabor Gurbacs (@gaborgurbacs) July 3, 2026 For the Korean firms, caution has context. The debate over stablecoins backed by the South Korean won remains unresolved at home, and listed companies already face tightening domestic crypto rules.

Open Standard has yet to address the Korean accounts or define what partnership means publicly. They have also not immediately responded to BeInCrypto’s request for comment.

17h05 ▪ 3 min read ▪ by Eddy S.

Summarize this article with:

Europe is moving backward. Three years after MiCA, its crypto framework is already obsolete. Brussels is trying to catch up with the dominance of dollar-backed stablecoins and the US GENIUS law. But is there still time to avoid the exodus of platforms and the reign of the dollar?

In brief The EU updates its MiCA crypto framework to include stablecoins and compete with the United States. The United States leads the stablecoin market thanks to more flexible rules regarding public debt reserves, notably through the GENIUS law. Binance is leaving Europe, while Kraken and OKX take advantage of the departure of crypto platforms. The Emergence of Stablecoins Causes MiCA to be Revised The European Commission has officially started revising MiCA, its crypto regulatory framework, facing two major challenges: the explosion of stablecoins and the US GENIUS law. MiCA was implemented in 2023 to regulate spot cryptos, but it struggles to adapt to the evolving financial sector. Meanwhile, stablecoins divert billions of euros and threaten the stability of the banking system. In the United States, the GENIUS law accelerated this trend by allowing stablecoin issuers to keep their reserves in US public debt. This strengthens the dollar as the dominant currency.

On its side, the EU still requires stablecoin issuers to deposit their reserves in the traditional banking system, a measure considered too restrictive by industry players. Consequently, euro stablecoins, including EUROC, struggle to compete with USDC or USDT. With MiCA 2.0, Brussels aims to broaden its scope to include stablecoins and tokenization, but time is running out… Already, crypto platforms are fleeing to friendlier jurisdictions, far from Europe.

Giants Profit while Hundreds of Crypto Platforms are Lost in Europe As of July 1, 2026, ESMA published the official list of 244 MiCA-authorized crypto platforms out of the 3,389 previously registered, that are authorized to operate within the EU. Binance, which failed to obtain its license on time, has suspended its services for European residents. This situation caused a massive influx of users to compliant platforms such as Kraken and OKX, who are currently running aggressive campaigns to attract these new customers.

Crypto platforms with or without MiCA licenses after July 1, 2026. Moreover, some European startups are considering moving part of their operations to Switzerland or Singapore, where regulations are more flexible. Europe is thus increasingly losing its market share in stablecoin exchanges to the United States and Asia, due to its strict regulation. MiCA, intended to protect crypto investors, risks killing European innovation.

The EU is racing against the clock. Without an ambitious MiCA 2.0, its crypto market risks disappearing. But Brussels will have to choose between investor protection and competitiveness. Especially right now as the Bank of France demands a tightening of MiCA rules.

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

The Real State of Tokenization: Experts React to the RWA Market’s Liquidity Problem

Standard Chartered and Circle are bringing USD Coin [USDC] closer to traditional banking. This new partnership will help institutions mint and redeem USDC through bank-led rails, starting in Dubai’s DIFC.

USDC minting moves to Standard Chartered’s banking platform Standard Chartered and Circle have created a way for institutional clients to mint and redeem USDC through a bank-led process. This would be instead of setting up separate accounts directly with Circle.

The financial giant has stated that it is the first Global Systemically Important Bank to offer this kind of USDC service. According to its statement, the company announced,

By embedding USDC access directly within Standard Chartered’s institutional offering, Standard Chartered will bring together banking, custody, and digital asset services within one integrated offering…

The first rollout will happen through the Dubai International Financial Centre, with expansion to other markets planned. The service is said to also support payment-related use cases later.

The scale makes it that much important This development comes at a good time though, especially since stablecoins are no longer a niche product. In fact, Artemis showed that USD-pegged stablecoin supply has nearly doubled over the past 24 months. We went from about $160 billion to around $300 billion by July 2026.

Source: Artemis While USDT [Tether] still leads the market, Circle’s USDC is still the second-largest stablecoin. It is also one of the greater corporate plays in the space. That becomes important when you think of Standard Chartered’s move, with the bank building access around a stablecoin that already has scale.

USDC supply has stayed around the $70 billion-$80 billion range in recent months, so that demand has held up even with new issuers entering the market. So, while stablecoins may have multiple long-term winners, Circle is still one of the names institutions are most likely to work with.

Final Summary Standard Chartered and Circle will let institutions mint and redeem USDC. USDC is the second-largest stablecoin, with 70B-$80B in supply.

Source: Binance EN

This is a general announcement. Products and services referred to here may not be available in your region. Terms and conditions apply. Fellow Binancians, Binance is excited to launch the July Referral Tournament! Invite friends to join Binance and complete required tasks to compete for a share of the 50,000 USDC leaderboard prize pool or unlock up to 100 USDC in milestone rewards. Top referrers can win up to 5,000 USDC in token vouchers. Promotion Period: 2026-07-03 08:00 (UTC) to 2026-07-31 23:59 (UTC) Join the Tournament Now! Promotion A: Invite Friends & Compete for Up to 5,000 USDC Eligible Binance users can participate in the Leaderboard Competition by inviting the highest number of Qualified New Traders during the Promotion Period. How to Participate: Step 1: Click [Join Now] on the activity page.Step 2: Invite new users to register using your Referral Pro Link/ID.Step 3: Encourage your referrals to become Qualified New Traders to climb the leaderboard. *A Qualified New Trader is a new user who registers via the participant's Referral Pro Link/ID during the Promotion Period and completes all of the following tasks: Logs in to the Binance App at least once;Top up at least 20 USD equivalent via Fiat deposit, Buy Crypto or P2P; andCompletes at least 100 USD equivalent in trading volume via Convert or Spot. Leaderboard Reward Structure To qualify for leaderboard rewards, participants must meet both the minimum number of Qualified New Traders and the minimum cumulative trading volume generated by new referred friends. The leaderboard is updated by T+2 basis. The final leaderboard, reflecting the total number of new traders after completing risk check, will be confirmed by 2026-08-03 (T+2). Eligible Users’ Rankings Based on the Number of Qualified New Traders Invited During the Promotion PeriodReward Per Eligible User(in USDC Token Voucher)Eligible Referrer’s RequirementsMinimum Qualified New Traders invited During the Promotion PeriodAndMinimum Cumulative Trading Volume (USD) via Spot & Convert Generated by New Referrals Invited During the Promotion Period 1 Place5,000 USDC300$1,000,0002 Place4,000 USDC250$800,0003 Place3,000 USDC200$600,0004 - 10 Places1,500 USDC each100$300,00011 - 30 Places625 USDC each50$100,00031 - 50 Places450 USDC each25$50,000Remaining Eligible ParticipantsEqually share 6,000 USDC (capped at 100 USDC each)5$3,000 Notes: Participants will be ranked based on the number of Qualified New Traders invited during the Promotion Period.If two or more participants invite the same number of Qualified New Traders, the participant who joined this promotion earlier will rank higher. Promotion B: Invite Friends & Unlock Milestone Rewards During the Promotion Period, eligible Binance users (excluding Affiliate users) can invite Qualified New Traders to unlock milestone rewards. Rewards are limited and available on a basis based on the participation time. Milestone Reward Structure Qualified New Traders Invited During the Promotion PeriodReward Per Eligible Referrer (in USDC Token Voucher)Reward Cap15 USDCFirst 1,000 Eligible Referrers320 USDCFirst 500 Eligible Referrers10100 USDCFirst 200 Eligible Referrers Notes: Each participant may receive one Milestone Reward only. Rewards are not cumulative.Participants who qualify for multiple milestones will receive the reward for the highest milestone achieved.Promotions A and B are mutually exclusive, and users who qualify for rewards under both promotions will only receive the reward with the higher value. Promotion C: New Referral Exclusive – Complete Tasks to Receive Up to 15 USDC The first 10,000 eligible new users who register using a participant's Referral Pro Link/ID and complete all required tasks will be able to claim a reward valued between 2 USDC and 10 USDC on the activity page during the Promotion Period, while supplies last. How to Participate: Eligible new users must complete all of the following tasks during the Promotion Period and pass Binance's risk assessment: Log in to the Binance App.Top up at least 20 USD equivalent via Fiat deposit, Buy Crypto or P2P; andCompletes at least 100 USD equivalent in trading volume via Convert or Spot. Earn Extra 5 USDC in Reward by Competing bStocks Trade Tasks: In addition to the above, the first 5,000 eligible new referrals who complete all required tasks and subsequently trade at least 50 USD equivalent of bStocks during the Promotion Period will each receive an additional 5 USDC token voucher. Terms & Conditions: Only users in certain regions are eligible to join this Promotion. Users may refer to the activity page for their eligibility to participate. Users in restricted regions are disqualified from participating in the Binance Referral Program as referrers or referred users.These terms and conditions (“Activity Terms”) govern users’ participation in the Referral Campaign (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Rewards from this Promotion are mutually exclusive with certain Affiliate-exclusive campaign rewards. If a user earns a reward in an Affiliate-exclusive campaign, they will not be eligible to receive rewards from this Promotion. Binance reserves the right of final decision.Binance will use the price of the USDC trading pair at the time of trading to calculate the value of the trades completed on Binance Spot and Convert during the Promotion Period. If there is no USDC pair for a specific cryptocurrency, it will be converted to another token or coin with a USDC pair to determine its value. Trading volume from Spot zero-fee trading pairs and the excluded token conversion via Convert during the Promotion Period will not be counted toward the leaderboard calculation and new user’s trade task. Excluded Spot zero-fee trading pairs: FDUSD/USDT，AEUR/USDT，BTC/U，EUR/EURI，EURI/USDT，FDUSD/USDC，KGST/USDT，RLUSD/U，RLUSD/USDT，TUSD/USDT，U/USDC，U/USDT，USD1/U，USD1/USDC，USD1/USDT，USDC/USD，USDC/USDT，USDP/USDT，USDT/USD，XUSD/USDTExcluded Convert trade: FDUSD/USDT，USDC/USDT，TUSD/USDT，U/USDT，BUSD/USDT，USDP/USDT，DAI/USDT，GUSD/USDT，EURS/USDT，USDN/USDT，RSV/USDT，U/USDC，USDC/BUSD，BUSD/USDP，USDC/TUSD，DAI/USDC，FDUSD/TUSD，DAI/TUSD，FDUSD/USDC，DAI/FDUSD，AEUR/EUR，BUSD/FDUSD，EUR/EURIIf multiple users have an equal achievement in Promotions A & B, their rankings will be determined by the time they opted in, with earlier opt-ins receiving higher priority. And if a user at a certain rank on the leaderboard does not meet the minimum criteria required for that rank, the reward for that rank will be forfeited. The user will instead receive the reward for the highest rank for which they meet the minimum criteria, and all subsequent ranks will be adjusted accordingly.Each new user can only be referred to Binance via one referral mode. If a new user registers for a Binance account via Referral Pro mode, the referrer will not be eligible for any rewards from limited-time activity referral ID/link nor Referral mode.Sub-accounts cannot be used to participate in this Promotion as either a referrer or a referral. Spot trades that are completed with a sub-account will not count toward the trading volume requirement.Any references to “$” means “United States Dollar”, unless otherwise stated.Reward Distribution:Eligible users must complete account verification (KYC) during the Promotion Period to receive the corresponding rewards. Rewards for Promotion A & B and the additional 5 USDC rewards will be distributed in token vouchers by 2026-08-21 after the Promotions end. Users will be able to log in and redeem their token voucher rewards via Profile > Rewards Hub. The rewards worth up to 10 USDC for new invited referrals in Promotion C are available to be claimed on the activity page during Promotion Period on a first-come, first-served basis, determined by user’s task completion time. The validity period to claim the token voucher is set at 7 days from the day of distribution. Users should redeem the token vouchers before the expiry date. Thereafter, the token vouchers will become invalid. Learn how to redeem a voucher. Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right to disqualify and revoke rewards for participants who engage in dishonest or abusive activities during the Promotion, including but not limited to registering from the same IP or device, bulk-account registrations to farm additional bonuses and any other activity in connection with unlawful, fraudulent, or harmful purposes.At Binance's sole discretion, user participation will be considered without effect and users will automatically be excluded, disqualified and prevented from accumulating benefits, in cases where it is identified: Any violations of Binance's Terms of Use and other legal terms, as well as attempted or proven fraud, human and/or through the use of technology; Manipulation of results or failure to fulfill the requirements and provisions set forth in these Terms and Conditions; Completion, by the user, of incorrect, outdated, mistaken information or filled with untrue information, and may also be liable for the crime of ideological or documental falsehood; Registrations and participations for which any technological means have been used or there are indications of their use, whether electronic, computerized, digital, robotic, repetitive, automatic, mechanical and/or analogous, with the intention of automatic and/or repetitive reproduction of registrations, identical or not, which will also result in the nullity of all registrations and participations made by the user who has used one of the aforementioned means or for one of the aforementioned purposes, even if not all registrations or participations have resulted from the use of such means and/or were carried out with such purpose.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating, or suspending these activities, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all Participants shall be bound by these amendments.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-07-03 Disclaimers: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected]. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.EURI is an e-money token issued by Banking Circle S.A (https://www.bankingcircle.com/). EURI’s whitepaper is available here. You may contact Banking Circle using the following contact information: +44 (0)7867254482 and [email protected]. EURI purchasers can exchange their EURI at par value for funds denominated in the official currency that the EURI is referencing (EUR) for the monetary value of the EUR held by Banking Circle for the purchaser of the EURI. Trade on-the-go with Binance’s crypto trading app (iOS/Android) Find us on TelegramXFacebookInstagram Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice. Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning. BStocks Tokenized Securities are Certificates representing Financial Instruments (paragraph 92, Schedule 1 to FSMR), traded on Nest Exchange Limited. BStocks represent an interest in underlying securities held by the Issuer and do not confer direct ownership of the underlying shares or stock. Ensure trading is lawful in your jurisdiction before proceeding. Tokenized Securities are high-risk products subject to market, liquidity, and price volatility risk — you could lose your entire investment. They do not represent ownership of, or any affiliation with, the underlying asset's issuer. Redemption, fees, and pricing adjustments are subject to the relevant Prospectus. This is not financial advice; seek independent advice before trading. See Responsible Trading page, Terms of Use, Exchange Rules, Exchange Procedures, relevant Prospectus, Admission to Trading Notice and Risk Warning.

Hedera has announced that Fireblocks now supports the Hedera Token Service (HTS), opening up institutional-grade custody for native HTS assets through the Fireblocks platform.

What the Integration CoversThe move allows Fireblocks clients to hold HTS tokens alongside their existing digital asset portfolios, with no separate infrastructure or additional setup required. USDC support is live globally from day one, and new wallets no longer need upfront $HBAR funding to get started, removing a longstanding friction point for institutions entering the Hedera ecosystem.

The Hedera Token Service is Hedera's native token issuance and management layer. According to Hedera, it enables the creation of fungible and non-fungible tokens using simple APIs, without relying on smart contracts, and is built for high-throughput operations with predictable fees and fast settlement. Built-in compliance controls include KYC, freeze, and wipe functions, all handled at the consensus layer.

Why Fireblocks Matters for Institutional AccessFireblocks is one of the most widely used institutional digital asset infrastructure platforms available today. The company provides custody, payments, tokenization, treasury management, and network connectivity across 150-plus blockchains to more than 2,400 organizations. Its client base includes major banks, asset managers, and fintechs that rely on the platform for custody and settlement at scale.

For Hedera, landing a Fireblocks integration puts HTS assets directly in front of that institutional client base. The simplified onboarding, particularly the removal of the upfront $HBAR wallet funding requirement, should reduce the operational overhead that has historically made Hedera accounts more cumbersome to provision at scale.

The announcement reflects a broader push by Hedera to build institutional-grade infrastructure partnerships as demand for regulated, on-chain asset management continues to grow.

Sources
Hedera Token Service, Hedera.com
Fireblocks: Leader in Public Blockchain Support Coverage, Fireblocks Blog