Track market-moving stories before they get noisy

Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.

BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.

3 minutes ago

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

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Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

3 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

3 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

3 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

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Key Takeaways ARK Invest acquired 210,121 shares of SpaceX valued at $32.5 million on June 22 across four different ETFs The aerospace company’s stock has plummeted 23% in just three trading sessions, erasing more than $600 billion in valuation ARK has been continuously divesting its Roku holdings following Fox’s announcement to acquire the streaming platform The investment firm offloaded 163,192 Roku shares totaling approximately $22.1 million across three separate funds Wood projects that space-based data centers could multiply SpaceX’s revenue opportunities by 10 to 20 times current estimates On June 22, Cathie Wood’s ARK Invest snapped up 210,121 shares of SpaceX, representing approximately $32.5 million in total value. The investment was distributed among four exchange-traded funds: ARK Innovation, ARK Autonomous Technology & Robotics, ARK Next Generation Internet, and ARK Space & Defense Innovation.

Space Exploration Technologies Corp., SPCX

The purchase occurred following a sharp 16.4% single-day drop in SpaceX shares on Monday. Over three consecutive trading days, the stock has experienced a cumulative 23% decline since its initial public offering.

This dramatic selloff eliminated over $600 billion from the company’s market capitalization. Despite the losses, SpaceX maintains a valuation exceeding $2 trillion, securing its position as the world’s seventh-largest company by market cap.

ARK’s initial entry into SpaceX occurred on June 12, when the firm purchased 3.29 million shares distributed across the same four investment vehicles immediately following the company’s historic IPO. Monday’s transaction represents an expansion of that existing stake.

Wood has consistently highlighted orbital data centers as a major catalyst driving her bullish outlook. According to ARK’s preliminary analysis, this emerging sector has the potential to amplify SpaceX’s revenue capabilities by 10 to 20 times beyond existing forecasts.

In premarket trading Tuesday, SpaceX shares declined an additional 3.7%, signaling a potential fourth consecutive session of losses.

ARK Systematically Reduces Roku Holdings Concurrently, ARK Invest divested 163,192 Roku shares across three investment funds — ARK Blockchain & Fintech Innovation, ARK Innovation, and ARK Next Generation Internet. Based on Roku’s Monday closing price of $135.20, the transaction totaled approximately $22.1 million.

Roku’s stock declined 2.08% during Monday’s trading session. The streaming company recently unveiled a strategic collaboration with Fox, designed to integrate Fox’s sports coverage, news programming, and entertainment offerings into the Roku ecosystem.

ARK initiated its Roku selloff last week immediately after reports emerged confirming Fox’s acquisition of the streaming platform. Since then, the firm has liquidated millions of dollars in Roku holdings through multiple transactions.

Beyond these major moves, ARK executed additional portfolio adjustments Monday. The firm acquired 489,584 Roblox shares across three funds, liquidated 104,491 shares of Strata Critical Medical, and sold 20,284 shares of Twist Bioscience.

SpaceX closed Monday’s session at $154.60 per share, significantly below its IPO debut levels. ARK’s expanded SpaceX holdings signal a firm conviction that the current downturn represents a strategic entry point rather than the beginning of an extended decline.

The next several trading sessions will determine whether SpaceX can halt its momentum after four consecutive days of sustained selling pressure.

Key Highlights ARK divested 327,053 Roku shares valued at $44.2 million on Tuesday The firm acquired 81,254 Palantir shares worth $9.5 million distributed across three ETFs Additional investments included Amazon, Alphabet, Tesla, and CoreWeave positions Cerebras Systems shares were acquired before its Q1 financial results release Total acquisition value reached approximately $49.3 million for the trading session Cathie Wood’s investment management firm, ARK Invest, executed several strategic transactions on Tuesday, June 23, acquiring positions in prominent technology companies while simultaneously reducing exposure to Roku.

The firm liquidated 327,053 Roku shares distributed across ARKK, ARKW, and ARKF ETFs, generating approximately $44.2 million. This continues a pattern of Roku position reductions throughout the previous week.

Meanwhile, ARK deployed close to $49.3 million in new acquisitions across various holdings.

Significant Palantir and Amazon Acquisitions ARK accumulated 81,254 shares of Palantir valued at $9.48 million, distributed across ARKK, ARKW, and ARKF portfolios. This acquisition reverses previous divestments of the data analytics company. Palantir currently ranks as the 16th-largest position in the ARK Innovation ETF, representing 2.58% of holdings.

Palantir Technologies Inc., PLTR

The investment firm also secured 41,141 Amazon shares for $9.63 million across identical fund allocations. Amazon maintains the 18th-largest position in ARKK, accounting for 2.36% of total assets.

Additionally, ARK increased its Tesla holdings by 21,226 shares worth $8.1 million. Tesla represents the dominant holding in the ARKF ETF at 9.73%.

The firm obtained 23,603 Alphabet shares valued at $8.17 million. Alphabet comprises 1.92% of the ARK Innovation ETF portfolio.

Expanding AI Infrastructure Holdings ARK secured 76,195 CoreWeave shares for $8.06 million. CoreWeave stands as the 17th-largest holding in ARKK, representing 2.57% of the fund.

The firm also purchased 25,795 Cerebras Systems shares totaling $5.85 million. The semiconductor manufacturer completed its public debut on May 14. This transaction preceded Cerebras announcing better-than-expected Q1 revenue figures following Tuesday’s market close.

Cerebras presently accounts for only 1.22% of the ARK Innovation ETF, indicating ARK may be gradually accumulating this position.

One day earlier, ARK had acquired $32.4 million in SpaceX shares across four ETFs, purchasing following a 16% stock decline. ARK had previously acquired 3.3 million SpaceX shares on its public trading debut.

ARK liquidated hundreds of millions in various positions during the weeks preceding SpaceX’s IPO to generate capital for that investment.

Tuesday’s trading activity demonstrates ARK’s strategic reallocation from Roku into artificial intelligence-centric enterprises and Magnificent 7 technology stocks.

Cathie Wood has dismissed mounting inflation fears despite U.S. headline CPI rising to 4.2% in May, arguing that underlying price pressures are close to disappearing.

Summary

Cathie Wood says underlying inflation is near 0.5% despite headline U.S. CPI rising to 4.2% in May. The ARK Invest CEO cites productivity gains and Truflation data to argue inflation pressures are easing. Wood believes Fed Chair Kevin Warsh could support economic growth if inflation falls toward 0% to 1%. According to the ARK Invest CEO, inflation fears dominated conversations during her recent investor meetings across Asia and Europe, where many participants questioned whether persistent price growth would force the Federal Reserve to tighten monetary policy further.

In a series of X posts, Wood said she was surprised by how strongly investors expected inflation to remain elevated, adding that she believes inflation could weaken sharply for reasons extending beyond lower oil prices.

The comments come as financial markets have increased bets that the Fed could raise interest rates by another 25 basis points in September after the latest inflation data. At the same time, Fed Chair Kevin Warsh has continued to stress the central bank’s commitment to returning inflation to its 2% target.

Labor costs and real-time data point to weaker inflation Presenting a different view of price pressures, Wood argued that underlying inflation is already close to disappearing when measured through labor costs rather than headline consumer prices.

According to Wood, U.S. productivity increased roughly 3% year over year during the first quarter while compensation per hour rose about 3.5%. Using those figures, she said unit labor costs indicate underlying inflation of only 0.5% year over year, suggesting businesses are not facing meaningful cost-driven inflation.

Wood also pointed to alternative inflation measures that differ from official government statistics. Citing data from Truflation, she said the platform’s real-time inflation gauge has fallen from approximately 11% year over year in 2022 to 1.8%, while its core inflation reading has declined to 1.4%.

Based on those indicators, Wood argued that current inflation trends are considerably weaker than headline CPI figures suggest. She maintained that investors placing heavy weight on government inflation data may be overlooking signals coming from productivity and private-sector pricing measures.

Wood expects Kevin Warsh to support growth if inflation eases Looking ahead, Wood said she believes Warsh understands the distinction between official inflation readings and conditions developing across the broader economy.

According to her assessment, productivity gains are helping reduce inflationary pressure, while existing government inflation measures contain methodological shortcomings that can overstate underlying price growth.

Wood added that if the U.S. economy continues expanding while inflation falls toward a range of 0% to 1% or below, she expects the Federal Reserve under Warsh to place more emphasis on supporting economic growth instead of maintaining restrictive monetary policy.

https://x.com/CathieDWood/status/2069817965369843959

Her outlook contrasts with current market positioning, where traders have increased expectations for another rate hike following the stronger-than-expected May CPI report. Even so, Wood argued that continued improvements in productivity and easing cost pressures could eventually reduce the need for tighter monetary policy.

Concluding her remarks, Wood said she expects the Fed’s policy stance to evolve once inflation weakens further, allowing the central bank to encourage economic growth rather than focus primarily on containing inflation.

Jame, one of Counter-Strike’s most recognizable AWPers, will not compete in back-to-back IEM majors. The veteran’s streak of consecutive major appearances has ended after paiN Gaming’s elimination at the IEM Cologne Major 2026, where the team finished 9th-11th following a 0-2 loss to Monte in Stage 2.

For a player who once hoisted a major trophy at IEM Rio 2022, the early exit represents a quiet but meaningful milestone.

What happened at IEM Cologne paiN Gaming’s run at the fifth Counter-Strike 2 Major Championship was brief. The team, which qualified through the Americas VRS standings, managed to reach Stage 2 but hit a wall against Monte.

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A 0-2 scoreline sent paiN packing with $10,000 from the Stage 2 prize pool.

Jame’s career arc and the streak that was Dzhami Ali, born August 23, 1998, has been a fixture at the highest levels of Counter-Strike since 2018. His resume includes stints with Virtus.pro, time with PARIVISION, and a major title at IEM Rio 2022.

Now that streak is over. The Cologne exit means his next major appearance, if it comes, won’t be consecutive.

The broader competitive landscape The IEM Cologne Major 2026 being the fifth CS2 major championship puts the game’s competitive ecosystem in an interesting spot. A CIS-region veteran playing for a Brazilian organization, qualifying through Americas standings, competing at a European major.

The IEM Cologne Major is organized by ESL and remains one of the premier events on the CS2 competitive calendar.

What this means going forward At 27, Jame is firmly in the veteran category. The $10,000 payout from Cologne is functional but not transformative for a team’s finances.

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

Elon Musk’s companies have been threatened in the Middle East by Iran. SpaceX grounds and facilities are included in the warning. If relations heat up, “legitimate targets” may come to be in Tehran’s eyes.

Iran Targets Elon Musk’s SpaceX, Starlink The threat on Elon Musk’s SpaceX and Starlink came as peace deal talks between the US and Iran stalled. Iran rejected the claims of signing the deal today after offering a draft memorandum earlier in the day. Meanwhile, tensions in the region are high, with Israel and Iran-backed groups having just engaged in some military activity.

Iranian authorities think the United States and Israel used the services of Musk’s businesses in intelligence and military activities against Tehran, noted the Fars news agency. Those operations included advanced drone and unmanned maritime strike technologies, the report stated.

Fars quoted senior Iranian sources as saying that Tehran is convinced that the US violated the rules of war with the help of Elon Musk’s companies. It added that Iran suspects the U.S. of making use of its technology to attack the Islamic Republic.

Iran also threatened to attack Elon Musk’s company, offices or anything related to his services in the Middle East and Israeli-occupied territories, per reports.

Iran explicitly referred to the Starlink ground stations and SpaceX-related infrastructure in the region. Tehran says these systems had helped them monitor and communicate during the attacks against Iranian interests. It could weigh on the company despite the record IPO on June 12.

If Starlink infrastructure is struck, there may be more broader concerns surrounding satellite internet services. The effect upon an attack would depend on the size of the attack and the position of the targeted facilities. Ground stations play a key role in the network of Starlink providing communications support across parts of the world.

Trump Fumes Over Israel Striking Lebanon On the other hand, U.S. President Donald Trump’s still signals at a potential deal with Tehran. Trump said in a Truth social post that Washington and Tehran were very close to coming up with a deal that would de-escalate the situation in the region.

Trump also condemned Israeli attacks on Beirut. The attacks “should not have happened particularly on a special day when we are so close to a Peace Deal with Iran,” he wrote.

The U.S. President called for a sense of balance on both sides. “We are very close to a Deal that will bring peace to the region, including to Lebanon, and all sides should stand down,” he said.

Aleksi “Aleksib” Virolainen just reminded the competitive Counter-Strike 2 scene why in-game leadership matters as much as raw aim. The Finnish strategist led Natus Vincere to victory at IEM Atlanta 2026 in mid-May, securing the organization’s first Intel Extreme Masters title since 2024.

For a crypto audience, the honest take: this story has essentially zero blockchain relevance. But the esports economy it represents is worth paying attention to.

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What actually happened in Atlanta NAVI navigated the IEM Atlanta 2026 playoffs behind Aleksib’s clutch plays and tactical decision-making. The tournament was part of the ESL Pro Tour circuit, which typically features prize pools around $1 million for major events.

The win caps a strong run for the roster. NAVI has secured multiple top-five finishes across several prestigious competitions, including IEM Melbourne 2025 and ESL Pro League Season 21.

Aleksib, born March 30, 1997, has built his reputation across several top-tier organizations. Before joining NAVI, he competed for OG, G2 Esports, and Ninjas in Pyjamas.

The esports economy, minus the blockchain Research into Aleksib’s profile, NAVI’s operations, and the IEM tournament structure turned up no connections to cryptocurrency, tokens, or blockchain-based platforms. The closest intersection is CS2 skin trading platforms, some of which accept crypto payments, but that’s a peripheral marketplace detail rather than a structural integration.

CS2’s skin economy already functions as a parallel financial system of sorts, with rare in-game items trading for thousands of dollars on secondary markets. The infrastructure for digital asset trading exists within the gaming community. The demand for blockchain-based solutions to facilitate that trading, however, hasn’t materialized in any meaningful way among top-tier competitors or tournament organizers.

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

In brief The leaders of the Senate Banking and House Financial Services committees have released updated text for the 21st Century ROAD to Housing Act, which would bar the Fed from issuing a CBDC through December 31, 2030. The compromise adds a three-year sunset for a disaster-recovery block grant program and adopts House priorities, including limits on institutional homebuyers and nine community banking bills. The text now returns to the Senate floor, though some House conservatives still want the CBDC ban made permanent. The leaders of the Senate Banking and House Financial Services committees released updated text Tuesday for sweeping housing legislation that also carries a temporary ban on a U.S. central bank digital currency.

The package, H.R. 6644, aims to boost supply, lower costs, and stop institutional investors from crowding families out of the single-family market. Tucked into the bill is language stating that the Fed "may not issue or create a central bank digital currency" or any substantially similar asset through December 31, 2030—with a carveout for open, permissionless private dollar assets such as stablecoins that preserve “the privacy protections of United States coins and physical currency.”

Senate Banking Chair Tim Scott (R-SC), Ranking Member Elizabeth Warren (D-MA), House Financial Services Chair French Hill (R-AR), and Ranking Member Maxine Waters (D-CA) said the 21st Century ROAD to Housing Act reflects years of bipartisan, bicameral work and folds in priorities from the Senate, House, and White House. Scott said it was time to "deliver real relief for the American people," while Warren called it the biggest housing bill in more than 30 years.

To seal the deal after months of negotiation, the Senate accepted a three-year sunset for a disaster-recovery block grant program and adopted House measures, including nine community banking bills and language limiting institutional homebuyers, Hill said. "I look forward to President Trump signing it into law," he added. Waters said the text includes more than 50 housing and banking provisions Democrats fought to secure.

The anti-CBDC provision was added at the urging of House Republicans, and the Trump White House has backed it, with Treasury Secretary Scott Bessent recently reiterating that a digital dollar is off the table.

CBDCs—government-issued digital cash equivalents—have become a partisan flashpoint, with critics warning they could enable financial surveillance. Some House conservatives, including Rep. Anna Paulina Luna (R-FL), want a permanent ban, arguing that "CBDCs are bad for everyone."

The Senate first attached the CBDC ban in March, passing the package 89-10; the House cleared its amended version 396-13 in May. The updated text now heads back to the Senate floor.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.

BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.

2 minutes ago

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

2 minutes ago

Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

2 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

2 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

2 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

2 minutes ago

Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.

BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.

2 minutes ago

The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.

According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.

2 minutes ago

Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify

Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)

2 minutes ago

Crypto token M plunged over 80% in a short period, hitting a low near $0.5.

According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.

2 minutes ago

Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.

Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.

2 minutes ago

Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.

According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.

2 minutes ago

Nikola “NiKo” Kovač has spent the better part of a decade being the best Counter-Strike player without a Major title. That sentence is now past tense.

Team Falcons swept FURIA 3-0 in the IEM Cologne Major 2026 grand final on June 21, delivering NiKo his first Major championship after 17 tournament appearances. The match has already been described as one of the greatest in the history of Counter-Strike.

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The end of a 3,067-day drought NiKo’s last Major grand final appearance came at ELEAGUE Boston 2018, meaning 3,067 days separated that loss from this victory. NiKo holds 10 HLTV Top 20 Player of the Year selections. The only question was whether he’d ever find the right team, the right moment, and the right tournament bracket to convert all that talent into a Major title.

The roster that assembled under the Falcons banner includes NiKo, Ilya “m0NESY” Osipov, Finn “karrigan” Andersen as in-game leader after joining the team in April 2026, coach Danny “zonic” Sorensen, Maksim “kyousuke” Lukin, and Rene “TeSeS” Madsen. Falcons reached the final following wins over top-tier teams including Vitality and Spirit before dismantling FURIA in the grand final.

A milestone machine Karrigan picked up his second Major title. Zonic earned his sixth Major title as a coach. For m0NESY, kyousuke, and TeSeS, the Cologne triumph represented their first Major championships. M0NESY earned the MVP award for his performance throughout the event.

What this means for the Counter-Strike landscape Team Falcons, backed by Saudi Arabian investment, has been aggressively building competitive rosters across multiple esports titles. The grand final was celebrated as one of the best matches in Counter-Strike history, characterized by dramatic narrative and unprecedented viewer engagement.

For NiKo personally, the championship changes how his career will be remembered. Players with 10 HLTV Top 20 selections and a Major title don’t get questioned. That asterisk is gone.

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

Luminosity Gaming is making its move back into competitive Counter-Strike, and the shopping list is ambitious. The organization is in advanced negotiations to sign multiple players from Ukrainian org Monte, while also bringing on Brazilian player lux as in-game leader.

The targeted Monte core reportedly includes Bymas, AZUWU, and afro, all of whose contracts with the Ukrainian organization are set to expire on June 22, 2026. Rainwaker may also be part of the package.

The pieces on the board Lux, the Brazilian player tapped to captain the new squad, has been in discussions with Luminosity since at least April 2026. He was benched by Legacy back in February, leaving him available and, presumably, motivated.

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Bymas, in particular, is a name that carries weight in Counter-Strike circles. The Lithuanian player has bounced between several notable rosters over the years, and pairing him with AZUWU and afro preserves the synergy those players developed together at Monte.

Luminosity’s bigger picture This roster push doesn’t exist in a vacuum. Luminosity Gaming underwent a significant financial transition in early 2026 when its assets were acquired by Vertiqal Studios for approximately C$900,000, roughly $645,000 USD.

Luminosity has history in Counter-Strike that extends back to the game’s golden era. The organization was home to the legendary Brazilian lineup that would eventually become SK Gaming and win back-to-back Majors in 2016.

The timing also aligns with broader roster shuffling across Counter-Strike 2 following the most recent Major cycle. Contract expirations, team dissolutions, and player movement tend to cluster in these windows, creating a transfer market that rewards organizations willing to move quickly and decisively.

What this means for the esports investment landscape The Luminosity asset sale at $645K USD reflects a market where esports organizations are trading at dramatically reduced valuations compared to the 2021 boom. Monte’s players were performing within the 13-17 range in VRS rankings at the time of these negotiations.

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

In brief An AI agent playing Civilization launched two nuclear attacks after failing to stop a rival's cultural expansion. The behavior was observed in CivBench, a benchmark designed to evaluate long-term strategic reasoning in frontier AI models. Despite the attacks, the AI lost because it ignored a diplomatic victory condition that was already within reach. Like the title character in “Dr. Strangelove,” AI may be learning how to stop worrying and love the bomb—at least in a simulation.

In a new benchmark designed to test strategic reasoning, a frontier language model playing the Sid Meier’s game "Civilization VI" spent 50 turns developing nuclear weapons to stop France's growing cultural influence—only to lose the game anyway, according to AI developer and Tony Blair Institute advisor Liam Wilkinson.

“What it hadn't noticed was France. Quietly, across a hundred turns, French culture had been seeping into every city on the map,” Wilkinson wrote. “By the time the agent recognised the threat, the tourism was so deeply embedded there was no peaceful way to stop it.”

Wilkinson observed the AI agents’ behavior through CivBench, a text-based benchmark designed to measure long-term strategic reasoning rather than performance on traditional question-and-answer tests. Models including Claude Opus 4.6, GPT-5.4, Gemini 3.1 Pro, and Kimi K2.5 played as Portugal, a civilization geared toward trade and diplomacy.

While the AI focused on building a strong economy and moving toward a diplomatic victory, it failed to recognize France's growing cultural influence.

“There are six ways to win a game of Civ—science, culture, domination, religion, diplomacy, and score—so no single objective dominates,” Wilkinson wrote. “If you want to know whether an AI can reason strategically, not just answer questions about strategy but actually do it, you don't give it a quiz. You give it a hex grid.”

Rather than adapting its broader strategy, the agent instead focused entirely on eliminating the cultural threat. Over the next 50 turns, it researched Nuclear Fission, initiated a virtual Manhattan Project, and searched for workarounds when gameplay mechanics prevented its preferred actions.

On Turn 305, the AI launched an atomic bomb at Toulouse, France's cultural capital. A second nuclear strike followed six turns later.

However, the attacks failed to change the outcome. “The agent spent fifty turns and two nuclear weapons answering one threat with total focus and genuine ingenuity,” Wilkinson wrote. “It had nuked a city to stop the threat it could see, and lost on the threat it couldn't.”

As Wilkison explained, while the AI concentrated on France's cultural advance, it overlooked an impending diplomatic victory, and France ultimately won the game despite the nuclear attacks.

Wilkinson noted that the behavior was not universal. In another CivBench match, a Claude model playing as Babylon continued pursuing a scientific victory despite falling far behind Japan.

“The game is a test of persistence now,” the AI wrote. “We continue to play our best game. The stars still beckon.”

The study adds to a growing body of research examining how advanced AI systems behave in complex, competitive environments.

In February, researchers at King's College London found that several leading AI models frequently selected nuclear escalation in simulated geopolitical crisis scenarios.

In a separate study by Emergence AI found that some AI agents showed an increasing tendency to commit simulated crimes over time, with Gemini 3 Flash agents accumulating 683 incidents across 15 days of testing.

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The U.S. Senate passed a War Powers Resolution on Tuesday, voting 50-48 to rein in Trump’s war with Iran. Bitcoin (BTC), often pitched as a geopolitical hedge, barely moved.

The measure is the first of its kind to clear both chambers of Congress. Yet traders treated it as a formality, since the U.S.-Iran ceasefire is already weeks old.

S&P500, Oil, and Bitcoin Price Performance. Source: TradingViewA Historic Rebuke Markets Had Already PricedFour Republicans broke ranks to support the resolution. Bill Cassidy, Susan Collins, Lisa Murkowski, and Rand Paul joined the Democrats. Senator John Fetterman was the only Democrat to oppose it.

MAJOR BREAKING: The U.S. Senate has voted 50-48 to approve a War Powers Resolution directing President Trump to end military hostilities with Iran unless Congress explicitly authorizes continued military action. Four Republicans joined most Democrats in support, while Sen. John…

— Brian Krassenstein (@krassenstein) June 23, 2026 Congress has reached for the 1973 War Powers Resolution against this president before. In 2020, after the Soleimani strike, the Senate passed a binding Iran measure that Trump vetoed.

This one is a concurrent resolution, so it never reaches his desk.

The vote followed a U.S.-Iran ceasefire reached earlier this month. That truce reopened the Strait of Hormuz and pulled oil back from its wartime highs.

Equities and crude had reacted to the earlier ceasefire relief long before Tuesday.

The White House dismissed the result as meaningless.

“Concurrent resolutions do not go to the president and have no force of law,” a White House official made that point to CNN.

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The S&P 500 barely moved, just like oil, after tech sector sell-off hit the markets earlier in the day. However, oil price saw modest gains.

Bitcoin Marches to its Own DrumBTC traded near $62,667 on Wednesday, down about 2.5% over 24 hours. Its recent price action has followed crypto-specific stress, not the politics in Washington.

Bitcoin Price Performance. Source: BeInCryptoA record 13-day run of outflows drained about $4.4 billion from U.S. spot Bitcoin exchange-traded funds (ETFs) through early June. It was the longest streak since the funds launched in January 2024.

BlackRock’s IBIT, the largest fund, lost roughly $980 million in its worst week yet. A Federal Reserve in no hurry to cut rates has added to the strain. BTC now trades near half its October record around $126,000.

The slide undercuts the safe-haven story crypto promoters often repeat. During the U.S. strikes on Iran this year, BTC slid with equities rather than rising like gold.

The pattern is familiar. BTC fell about 8% the day Russia invaded Ukraine in 2022, then quickly rebounded. The move echoed its Ukraine war playbook.

For now, BTC trades on liquidity and interest rates, not geopolitics. Whether ETF flows turn around may matter more than any vote in Congress.

Table of contents

The major crypto exchange AscendEx made a formal announcement of its partnership with Dechat, a decentralized and secure communications protocol. This partnership will help this team to extend the limits when working with users of the decentralized world, making it easy to transfer information and exchange it securely between platforms.

Strengthening the Web3 Infrastructure Dechat is the Web3 communications protocol of the next generation that will enable safe and decentralized interactions of users. 

Its infrastructure reduces the need of having centralized intermediaries, so users have complete authority over data and privacy. This perfectly fits into the mission statement of AscendEx whose efforts are to raise transparency and confidence in the blockchain platform.

The collaboration is likely to merge the communication services of Dechat into the environment of AscendEx, improving the customer experience of traders and crypto lovers all over the world. 

Although specific integration guidelines remain concealed, the combination of a highly-functional trading platform with a high-quality messaging protocol is already gaining the interest of Web3 enthusiasts.

A Strategic Alliance With Broader Implications AscendEx enjoys a solid reputation as a global digital asset trading platform, where its users have the privilege to invest, earn, and exchange hundreds of crypto assets in an efficient way. 

Through its cooperation with Dechat, the exchange has demonstrated that it is determined to transform itself beyond merely trading and establish an entire ecosystem of DeFi and communications.

The potential to this partnership is vast, as it will effectively allow direct wallet-to-wallet communications, safe trading conversation, and even community governance via the message layer with Dechat. It is a movement toward making decentralized platforms more convenient and user-oriented.

Community and Market Response The announcement has been welcomed in the crypto community. Its fans consider it a step to a more connected and functional Web3 infrastructure. This partnership can be used as an example of future collaboration between decentralized communication protocol and a trading platform, with both projects gaining increased popularity.

AscendEx has cautioned its customers to wait and see more announcements, possibly product releases or some other technical integrations. They presented the announcement on their official Twitter account alongside a visually interesting graphic, including logos of both brands and the Dechat icon.

Looking Ahead As security, decentralization, and interoperability become the leading concerns in the blockchain industry, the collaboration between AscendEx and Dechat will shape the future of digital interaction. These partnerships will be important as the Web3 sector continues to develop and create confidence and innovation.

AUTHOR

With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.

Bitcoin no longer in ‘easy mode’ — expect a leverage wipeout, observers warn

Transak, a global fiat-to-crypto payments infrastructure provider, has teamed with Opera’s MiniPay, a leading dollar stablecoin wallet based on the Celo blockchain. This partnership enhances MiniPay’s capacity to enable seamless on-and off-ramping of stablecoins — Celo Dollar (cUSD), Tether USD (USDT), and USD Coin (USDC) — in over 50 countries, with a wider selection of local payment options.

As part of this partnership on- and off-ramping is available with zero fees for a limited period, enabling users to interact with stablecoins without the traditional obstacles of fees and further pushing adoption by making cross-border payments more inexpensive. The objective behind the inaugural zero-fee promotion is to allow more people to experience stablecoins’ attribute of near-instant cross-border payments and settlements without the technological bells and whistles.

MiniPay allows near-instant, low-cost transfers of stablecoins with costs as low as $0.001 per transaction, owing to the efficiency of the Celo blockchain. Onboarding needs only an email address and phone number, making it simple for anybody to start using stablecoins. In certain markets, consumers may even acquire as low as five dollars of stablecoins, making it affordable for anyone. Users may also pay bills and utilities in specific markets at zero cost.

Here’s how it works:

On-Ramping: By buying stablecoins directly with local currencies using a variety of payment options, including as credit/debit cards, Google Pay, and Apple Pay, users may fill up their MiniPay wallet. Off-Ramping: By converting stablecoins into local currencies and sending the money straight to their bank accounts or credit cards, users may take money out. Carlo de Luca Gabrielli, Global Director of Sales at Transak stated:

“We believe financial tools should be accessible to everyone, everywhere. By joining forces with MiniPay, we’re not only making digital finance affordable but also promoting inclusiveness for communities that need it the most.”

MiniPay has more over 5 million active wallets since its September 2023 debut, demonstrating widespread use and demand for inexpensive, international transactions. Transak’s goal of making web3 accessible to everyone in a non-custodial way is perfectly aligned with the ultralight (2MB) wallet’s impressive success in emerging markets.

MiniPay’s dedication to giving consumers simple access to stablecoins and promoting their widespread adoption is further strengthened by the partnership with Transak.

Jørgen Arnesen, EVP of Mobile at Opera stated:

“We’re thrilled to collaborate with Transak to offer MiniPay users a wider range of local payment options as we expand our stablecoin wallet to more countries worldwide. By eliminating fees, we’re breaking down financial barriers, making cross-border transactions and remittances more accessible and affordable, and driving the adoption of stablecoins even further.”

Because they provide a reliable substitute for conventional methods, stablecoins are becoming an increasingly important tool for remittances. This fee-free access is revolutionary because it eliminates the obstacles that usually make international payments expensive and time-consuming. MiniPay guarantees that users can transfer money across the globe swiftly and affordably, whether for regular transactions or remittances. This makes it an accessible option for individuals, families, and businesses in need of quick, dependable, and reasonably priced financial tools.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.

Posted: November 18, 2019

Despite being closely associated with Bitcoin and cryptocurrencies by extension, blockchain’s landscape has been evolving rapidly. As the Fintech industry continues to be the blockchain leader, other industries have taken cautious steps towards researching various use cases of the technology.

Dan Weinberger, Co-founder and CEO of Morpheus Network, was quoted as saying that distributed ledger technology [DLT] or blockchain has the same transformative power as the Internet in the early 1990s. Different sectors have indeed diversified their blockchain initiatives, but the question that still lingers is whether industry players understand the technology. According to Brendan Blumer, CEO of Block.one, the parent company of EOS, a lot of big companies do.

In conversation with CNBC’s Brian Sullivan, Blumer said,

“A growing number of big companies do. One of the initial approaches or interpretations large organizations had on blockchain is ‘well, we can do that faster and cheaper’. They failed to recognize the social movement that blockchain was creating… It’s fundamentally a new building block that we can use to create alternative systems.”

While everyone is eager to know when adoption of the tech will hit a peak, Blumer opined that transition will be slow. According to Blumer, “big companies” have different risk profiles and some of them “don’t even have the mandate to take big risks.” He also asserted that more private organizations will embrace technology and subsequently, change the trust in the relationship they have with their consumers.

Eyes everywhere

“We live in a world where right now we can see what Facebook shows us. We can see our newsfeed, and we know there’s algorithms back there. We know they’re taking our data and they’re using it to serve us ads. We have a general premise of what’s going on, but we can’t see anything below the surface.”

In the information age, the threat to privacy has been a controversial subject. In recent years, online networking giants such as Facebook have suffered major data breaches. The Block.one CEO is positive that decentralized ledger technology can help fix it. He said,

“I believe that over time, blockchain is going to change that and they’re gonna change that through a consumer-led demand that people show us what’s below the surface. We now want to see what they’re doing with our data, how they’re serving us ads and who’s paying for it.”

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The year 2024 marks the dawn of a new era, not just for technology but for finance, as a major victory was achieved for Bitcoin Spot ETFs (Exchang-Traded Funds). It’s now the era where the past will be appreciated for its foresight and doggedness. 

When the pioneer cryptocurrency and digital currency, Bitcoin launched in January 2009, it was nothing like a real-world asset or of an ‘agreed’ digital value, but an almost neglected bag of gold as it faced enough rejection from all phases. Even with Satoshi’s Whitepaper, Bitcoin wasn’t given a cordial welcome in the world of finance.

However, for all its promise, BTC remained shrouded in an air of mystery and skepticism. It took several years for Bitcoin to cement its value in the world of technology, finance, and the digital economy, assuming a giant role amidst many other cryptocurrencies. 

However, On January 10, 2024, the SEC, in its official filing, approves all 11 Bitcoin Spot ETFs. This long-awaited green light from the US SEC marked a watershed moment, not just for Bitcoin, but for the entire cryptocurrency industry. 

The 14-year journey to this point was arduous and paved with skepticism; regulatory hurdles loomed large, with the SEC citing concerns about market manipulation and investor protection as justification for repeated rejections. Attempts like Bitcoin futures ETFs offered limited exposure, failing to capture the true essence of a spot ETF’s direct price tracking. 

Bitcoin Spot ETF Explained The recent approval of Bitcoin spot ETFs has stirred excitement across the financial landscape. But what exactly are these instruments, and what impact will they have on the future of BTC and, more broadly, on the investment landscape?

Bitcoin “Spot” ETFs (exchange-traded funds), unlike their futures-based counterparts, don’t track the price of Bitcoin futures contracts. Instead, they take a more direct approach, holding the underlying asset – Bitcoin itself – in secure digital custodians. 

This eliminates the potential for “basis risk,” a phenomenon where futures prices deviate from the actual cash price of Bitcoin. Simply put, Spot ETFs offer a more straightforward and transparent way to gain exposure to BTC’s price movements, akin to traditional gold-backed ETFs.

Bitcoin Spot ETFs function similarly to their traditional counterparts, such as those tracking stock market indices. They pool investor capital, purchasing Bitcoin and holding it securely. Each share of the ETF represents a fractional ownership of the pooled Bitcoin, allowing investors to participate in the market without directly holding or managing the cryptocurrency themselves. This eliminates technical complexities and potential security risks, particularly for those with limited crypto experience, potentially broadening the base of Bitcoin investors. 

The Genesis Of Bitcoin ETFs (Early Days and Conceptualization – 2013-2017) The earliest sparks of a Bitcoin ETF concept date back to 2013, when the Winklevoss twins first proposed their Gemini ETF. Winklevoss twins, Cameron and Tyler, both tech entrepreneurs with a vision in 2013, submitted the first application for a Bitcoin ETF, the Gemini ETF, sparking the decade-long journey to regulatory approval. 

This audacious proposal was outrightly rejected by the SEC during the tenure of its former chairman, Jay Clayton, who later resigned in 2020 and became a supporter of cryptocurrency. Interestingly, Clayton is now actively involved in crypto regulations when he joined the advisory board of Fireblocks, a crypto custody platform.

The following years were a crucible of innovation and uncertainty. While Bitcoin’s market capitalization surged, attracting both fervent supporters and cautious observers, the SEC remained hesitant. The regulator’s concerns about market manipulation, price volatility, and the nascent state of blockchain technology were cited as justifications for repeated rejections of subsequent ETF proposals, including Grayscale’s attempt to convert its Bitcoin Investment Trust into a spot ETF.

Yet, amidst the rejections, there were flickers of progress. Technological advancements improved blockchain security and custody solutions, addressing initial concerns about vulnerability and potential wash trading. The global adoption of Bitcoin, particularly in Canada with its approval of Spot ETFs in 2021, served as a compelling case study for increased accessibility and market stability.

This period also saw the SEC’s stance slowly evolve. The appointment of Gary Gensler as SEC Chair in 2021 brought a newfound openness to dialogue and exploration of potential regulatory frameworks for cryptocurrencies. The approval of the first US-listed futures-based bitcoin ETF in October 2021, despite its limitations, offered a glimpse of what could be.

The Turning Point: A Decade Of Persistence Pays Off (2018-2023) While the 2017-2018 crypto boom and subsequent crash sent shockwaves through the industry, it also served as a crucible, forging resilience and fueling a renewed focus on compliance and innovation. Industry figures like Grayscale, undeterred by previous rejections, continued to refine their proposals, incorporating crucial safeguards and addressing regulatory concerns.

This relentless pursuit of approval finally yielded results in 2023. In May, Cathie Wood’s ARK Investments filed for a spot bitcoin ETF, setting a definitive deadline for the SEC’s decision. 

Then, in June, BlackRock’s entry into the arena with its own Spot Bitcoin ETF application sent ripples of excitement through the financial world. This move by a traditional financial giant signalled a crucial shift in sentiment, demonstrating growing institutional confidence in BTC’s potential.

The months that followed were a whirlwind of activity. A flurry of applications from firms like Fidelity and Invesco poured in, fueled by the momentum of BlackRock’s move and the prospect of imminent approval. In August, a pivotal legal victory for Grayscale in the D.C. Circuit Court further strengthened the case for spot ETFs, forcing the SEC to re-examine its previous rejections.

Finally, the SEC, in a historic decision, greenlighted 11 spot bitcoin ETF proposals, including those from BlackRock, Fidelity, and VanEck. This moment marked the culmination of a decade-long struggle, signifying the mainstream acceptance of investor participation in the cryptocurrency space.

Ripples Across The Crypto Landscape: Implications Of Bitcoin Spot ETFs (2024) The arrival of spot ETFs has cast a wide net, sending ripples across various spheres of the financial world. There are a lot of potentials and challenges presented by spot ETFs, vital impact on market stability, institutional adoption, and regulatory oversight. There are positive predictions that the Bitcoin market cap could rise above $1 Trillion after the launch of Bitcoin Spot ETFs.

Let’s contemplate the broader significance of this pivotal moment, what it means for the future of finance, and its relationship between technology and traditional financial systems here.

Investor Crossroads For retail investors, Spot ETFs offer a convenient and familiar way to participate in the Bitcoin market without directly holding the cryptocurrency. This opens the door to broader adoption and increased liquidity, potentially leading to smoother price discovery and reduced volatility. The influential American magazine, Forbes predicted the BTC price will trade as high as $80,000 as a result of Bitcoin Spot ETFs’ approval. 

The year 2024 is also shaping up to be a good one, if not one of the best seasons for cryptocurrency, especially Bitcoin, as it’s the season for Bitcoin halving, which will have another mega impact on the crypto industry. 

However, the inherent risks of Bitcoin, including price fluctuations and potential exposure to fraud, must not be underplayed. Investors should approach spot ETFs with cautious optimism, ensuring a proper understanding of the technology, market dynamics, and associated risks before venturing in.

Institutional Embrace Bitcoin The arrival of spot ETFs marks a significant step towards institutional acceptance of Bitcoin. The involvement of established financial institutions like BlackRock and Fidelity lends credibility to the cryptocurrency and paves the way for further integration with traditional financial products and services.

Concerns remain about the impact of institutional involvement on market manipulation and potential conflicts of interest. However, regulatory oversight and robust compliance frameworks will be crucial in ensuring a fair and transparent market for all participants.

Market Redefined Spot ETFs could potentially lead to greater market stability by introducing institutional investors and their risk management expertise. This could mitigate some of the inherent volatility of the cryptocurrency market, attracting a wider range of investors and fostering sustainable growth.

The SEC’s approval represents a cautious acceptance, not a blank check. Further regulatory clarity and potential adaptation of existing frameworks might be required to effectively address the unique challenges posed by the integration of cryptocurrencies into mainstream financial systems.

Beyond Bitcoin Spot ETFs could act as a gateway for investors to explore the broader crypto landscape. Their familiarity and ease of access might encourage exploration of other promising blockchain-based projects, accelerating the overall growth and development of the cryptocurrency ecosystem.

The success of spot ETFs will hinge on the continued evolution of blockchain technology and associated infrastructure. Scalability, security, and user experience will remain key areas of focus for ensuring the smooth functioning and widespread adoption of crypto-based financial products.

The 11 Spot Bitcoin ETFs products (with their ticker symbols) approved  on January 10, 2024, are:

Blackrock’s iShares Bitcoin Trust (IBIT) ARK 21Shares Bitcoin ETF (ARKB) WisdomTree Bitcoin Fund (BTCW) Invesco Galaxy Bitcoin ETF (BTCO) Bitwise Bitcoin ETF (BITB) VanEck Bitcoin Trust (HODL) Franklin Bitcoin ETF (EZBC) Fidelity Wise Origin Bitcoin Trust (FBTC) Valkyrie Bitcoin Fund (BRRR) Grayscale Bitcoin Trust (GBTC) Hashdex Bitcoin ETF (DEFI) Conclusion The approval of Bitcoin spot ETFs is a watershed moment, not just for the cryptocurrency itself, but for the entire financial landscape. It marks a new chapter in the saga of Bitcoin, one where its disruptive potential can be harnessed within the framework of established financial systems.

Also, this path forward is paved with both opportunities and challenges. Navigating regulations and addressing investor risk concerns are important to ensure seamless integration with traditional financial systems and regulatory bodies, which will be crucial in determining the ultimate success of this technological leap.

Final Thoughts The approval of Bitcoin spot ETFs is not merely a regulatory green light; it’s a resounding declaration of Bitcoin’s arrival on the main stage of finance.

Related Reading: Celestia Network: How To Stake TIA And Position For 5-Figure Airdrops

However, the journey is far from over. This approval is a milestone, not a destination. As we stand at this turning point, it’s important to remember the spirit of defiance that birthed BTC. It was born from a desire for autonomy, for freedom from centralised control, and for a more equitable financial system. 

While ETFs offer a bridge between this decentralized world and the established financial order, it’s crucial not to lose sight of these core principles.

BTC price struggles post-Bitcoin Spot ETF approval | Source: BTCUSD on Tradingview.com Featured image from Cryptopolitan, chart from Tradingview.com

TrueFi is a protocol that creates interest-bearing pools with high APRs for liquidity providers. It incorporates utility and reward mechanisms using TrustTokens (TRU) and rewards participants for sustaining stable, high APRs.

What is TrueFi (TRU)?TRU is the native token of the TrueFi protocol and is used for: TrustToken holders ultimately have the right to voice their opinion in the prediction market about who is a trustworthy borrower. TRU grants its holder the ability to rate credit for third parties. A permissionless credit system operating entirely on incentives can be established with the TRU credit score. TRU holders partially own the right to create a new credit system.

On the other hand, TrueFi is a DeFi lending platform similar to Aave or Venus, allowing you to earn interest on stablecoin deposits. However, a significant difference is that TrueFi enables borrowers to secure uncollateralized loans. The idea here is that the protocol aims to attract large industry players and institutions as loan takers who want to secure high-value, long-term loans.

Additionally, there are three use cases for TRU tokens on the TrueFi platform:

Staking: When a loan request comes through the TRU token, stakers vote “Yes” or “No” on the loan’s approval. Since rewards are based on the loan being repaid successfully, stakers are incentivized to vote carefully.Farming: To bootstrap liquidity, TRU tokens are initially distributed to lenders and stakers as rewards through liquidity mining programs on Uniswap or Balancer.Governance: After TRU is distributed fairly and decentralized, the future development of TrueFi will be community-driven.It is reported that TrustToken has taken many steps since its launch. For example; the protocol code underwent a complete security audit by Slowmist. Furthermore, the distribution of TRU is 100% through farming, ensuring a fair launch. Moreover, any tokens collected by the team’s own funds will either be burned or reinvested into the community.

Additionally, the TRU token does not follow an inflationary economic model since it has a fixed supply. Thus, potential yield farmers do not need to worry about continuous downward selling pressure.

Where to Buy TRU Coin?TRU Coin can be quickly and securely purchased via Binance, the world’s largest cryptocurrency trading platform by trading volume.

To buy TRU Coin, one must first sign up to Binance and then send fiat money. After sending a fiat currency like dollars, the purchase can be made in the Bitcoin (BTC), BUSD, and Tether (USDT) TRU trading pairs.

Additionally, on Binance, users can place orders to buy at a lower price than the market value. For this, you just need to use the Limit tab and enter the amount and price you want to buy at.

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.

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(Jason Leung/Unsplash, modified by CoinDesk)Investors will be able to deposit TrueFi's T-bill token to borrow the platform's new TRI token.TRI holders will be able to stake the token to earn a yield from borrowing fees.The offering comes as DeFi activity and demand for leverage picked up amid the current crypto bull market.Decentralized finance (DeFi) lender TrueFi unveiled plans Monday to start a real-world-asset-based (RWA) lending platform called Trinity to boost utility for its tokenized U.S. Treasury offering.

Trinity will let users take out crypto loans using tokenized RWAs as collateral. TrueFi's Treasury bill token (tfBILL) will be the first, with plans to add other yield-generating tokenized products in the future, according to a TrueFi governance proposal by ecosystem developer organization Wallfacer Labs.

Investors will be able to borrow the platform's TRI token by pledging the tfBILL tokens, using the borrowed crypto to create DeFi strategies to earn up to 15% annualized yield, the proposal said. Investors will also be able to buy TRI tokens on secondary markets such as decentralized exchanges, and stake them to earn a yield from the platform's borrowing fees.

The proposal to launch Trinity is pending approval by the TrueFi decentralized autonomous organization.

Trinity will let investors take out loans against TrueFi's tokenized Treasury bill. (Wallfacer Labs)The proposed new platform follows a resurgence in DeFi activity in recent months, with crypto-native yields and demand for leverage rapidly increasing amid the roaring digital asset bull market. The CoinDesk 20 Index, a measure of the most liquid crypto tokens, has risen almost 50% since the start of the year.

TrueFi was a key lender during the previous crypto bull cycle, originating over $1.5 billion of undercollateralized loans mainly to trading firms and market makers. As crypto prices cratered in 2022 with multiple firms imploding, some borrowers failed to repay their loans and depositors fled. The protocol's total value locked dropped to $20 million by the end of 2022 from a peak of over $900 million in 2021.

Last year, TrueFi introduced the tokenized U.S. Treasury offering, which had recently attracted $8.7 million of deposits.

TrueFi's governance token TRU$0.0₃8998 jumped 14% after the proposal was published at 15:53 UTC, and has gained some 20% in the past 24 hours.

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Multi-stage investment firm DWF Labs joined TrueFi as a market maker. The price of the TRU token surged by more than 10% in the past 24 hours. 7.5 million TRU tokens were sent to DWF Labs as part of the proposal. DWF Labs, the Web3 investment firm, is set to become the market maker for TrueFi, a leading DeFi lending platform. 

This partnership, formalized through a recent governance proposal passed on July 10th, highlights the increasing maturation of the DeFi sector and the potential for traditional financial players to play a more active role in this rapidly evolving landscape.

Notably, the proposal to appoint DWF Labs as the market maker was submitted on May 27. The proposal was subsequently put to a vote on July 2 on Tally, a front-end for on-chain DAOs. As per post, the proposal received approval on July 10, officially appointing DWF Labs as the market maker for TrueFi.

Following the approval, a wallet received 7.5 million TRU, the native token of the TrueFi project, aligning with the terms outlined in the proposal. The proposal stated that DWF Labs could provide funding to the TrueFi team in the future, if needed, adding:

DWF Labs excels in dynamic prop trading, employing varied strategies in both CeFi and DeFi, including liquidity provisioning in DEXs and CEXs, cross-venue arbitrage, and HFT. We can enhance liquidity for TRU in both spot and perp markets.

Yet another X post detailed the terms of the arrangement, revealing that the 7.5 million tokens were borrowed for a period of 24 months. DWF Labs will provide a 3% annual interest yield, paid every four weeks via stablecoins Tether (USDT) and USD Coin (USDC). Additionally, the market-making target is a bid-ask spread of 35 basis points.

As a result of DWF Labs’ appointment, TRU surged by more than 10% in the past 24 hours, according to CoinMarketCap data.

As a result of DWF Labs being appointed as TrueFi market maker, TRU surged by more than 10% in the past 24 hours, according to data from CoinMarketCap.

DWF Labs and TrueFi have maintained active communication throughout the year, with DWF Labs recently announcing a series of growth initiatives. These include the debut of a new website to improve market transparency and fairness, as well as partnerships with the TON Foundation and Fireblocks.

On May 28, DWF Labs announced its MEME track fund and partnered with LADYS, FLOKI, GME, and MAGA. GALA, a project within the firm’s portfolio, is also one of the top four assets on the chain.Additionally, DWF Labs also launched a $20 million cloudbreak fund to support Web3 projects and their leaders in regions where Chinese is the primary language. The fund focuses on gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

SEC Reveals 99% of TUSD Stablecoin’s Reserves Were Invested in Risky Fund

We recently published the Q3-2025 DAO report and as such wanted to share our updated vision with the broader crypto community. Over the past year, TrueFi has undergone a strategic transformation. Following a period focused on stabilizing operations, reducing costs, and rebuilding key infrastructure, the DAO is now entering a new phase centered on growth: scaling total value locked (TVL), reactivating KYC-enabled lending, and generating sustainable fee revenue.

At the start of 2025, TrueFi’s priorities were clear: rebuild essential systems, cut excess spending, and re-establish operational control. The Foundation inherited a complex and costly structure that required decisive action. Through careful resource management, vendor consolidation, and focused execution, the team succeeded in reducing expenses by roughly 75% while maintaining core development and governance functions.

This efficiency drive not only extended the DAO’s financial runway but also enabled continued progress on critical technical milestones. With the completion of the Elara codebase, the integration of Cyan on Hyperliquid, and the strategic partnership and investment in Accountable, TrueFi’s infrastructure is now primed for scalable, compliant lending activity.

The Foundation also completed a full front-end reskin, now in its final phase user acceptance testing and is on track for an October launch. This new interface will deliver a modern, intuitive user experience and reintroduce on-chain lending through KYC-enabled vaults.

Together, these efforts have set the stage for TrueFi’s next chapter: growth.

Elara Codebase Completion

The Elara framework, TrueFi’s compliant and composable stablecoin and treasury management infrastructure, reached full code completion this quarter. With yield-distributing smart contracts, comprehensive frontend and backend implementation, and 98% test coverage, Elara has been deployed to the Sepolia testnet.

The team also completed internal security reviews and secured audit quotes from top firms and an independent security researcher. Once live, Elara will compliantly power stable income generation, support diversified collateral types, and deliver institutional-grade transparency. It represents a major step toward reestablishing TrueFi as a leader in scalable DeFi infrastructure.

Cyan Integration on Hyperliquid

The integration of Cyan with Hyperliquid marks a major step toward connecting decentralized credit markets with deep on-chain liquidity. Cyan serves as a coordination layer that links lenders, borrowers, and liquidity venues for efficient loan origination and execution. Its infrastructure allows asset owners to access liquidity while retaining upside from airdrops and future appreciation.

By enabling NFT-backed and over-collateralized lending on Hyperliquid, the integration opens a new frontier for structured credit products in decentralized finance. The team successfully bootstrapped initial liquidity for Cyan’s NFT lending markets on the HyperEVM, a segment poised for meaningful growth as DeFi credit continues to evolve.

Accountable Partnership and Investment

TrueFi’s strategic partnership and investment in Accountable reinforces the Foundation’s commitment to privacy-preserving credit infrastructure. Accountable’s zero-knowledge verification technology allows institutions to prove assets and liabilities without revealing sensitive data such as wallet addresses, trading strategies, or API keys.

This integration complements TrueFi’s long-term mission to create a transparent yet privacy-conscious credit layer for both traditional and crypto-native markets. The collaboration also expands TrueFi’s reach, enabling stronger underwriting frameworks and unlocking new opportunities for compliant, real-world lending.

Cost efficiency remains one of the Foundation’s most significant achievements this year. By centralizing vendor contracts, renegotiating key agreements, and eliminating redundant expenses, the DAO preserved financial stability while funding high-impact initiatives.

This discipline reflects a cultural shift at TrueFi. We are committed to doing more with less, measuring progress through delivery and results rather than spend. It also ensures that future growth initiatives, from KYC-enabled lending to ecosystem partnerships, are built on sustainable financial footing.

With the core infrastructure complete and operations streamlined, TrueFi’s focus now turns to measurable growth.

Reactivating KYC-Enabled Lending
With the completion of the new front-end, the Foundation plans to resume KYC-enabled lending in Q4. This unlocks participation from regulated institutions seeking compliant exposure to on-chain credit, expanding the addressable borrower base and driving new inflows of capital.

Growing Total Value Locked (TVL)
Increasing TVL remains the DAO’s most important growth metric. Through targeted business development and strategic partnerships, TrueFi aims to attract institutional and crypto-native groups to use its time-tested vaults in their borrow-lend activity.

In addition to classic credit vault TVL, we will also aim to ramp up activity on Cyan. While NFT lending today represents a departure from TrueFi’s origins, these high-margin loans are an attractive source of diversified revenue.

Generating Fee Revenue for the DAO
The reactivation of lending activity will directly translate into fee revenue, strengthening DAO self-sufficiency. As lending volumes rise, these fees will support continued development, investments, and community incentives, completing the flywheel between protocol usage and DAO growth. We look forward to sharing more about our plans here in the second half of 2026.

Elara and the Stablecoin Opportunity

Elara, the stablecoin and treasury management project owned by TrueFi, represents an additional growth lever. As the team prepares to deploy elUSD across multiple chains, we expect to see meaningful expansion in circulating supply, which should establish a stable and recurring revenue base from which the project can scale. TrueFi intends to collaborate closely with Elara, supporting its adoption and integrating its credit capabilities when it makes sense. Over time, the DAO will also explore opportunities to monetize its Elara holdings in a way that supports long-term value creation for the community.

TrueFi enters Q4 2025 with a clear mandate: move from rebuilding to scaling. The team’s near-term priorities are to launch Elara, activate compliant lending vaults, grow TVL, and begin generating consistent income for the DAO.

These efforts mark the culmination of a year defined by efficiency and delivery and the beginning of one centered on growth and sustainability.

With a lean operating model, robust infrastructure, and a growing network of partners, TrueFi is positioned to reassert itself as a leading credit layer within decentralized finance. Strategic investments in Cyan and Elara provide a healthy pipeline of diversified revenue and future investment opportunities for the DAO.

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As we wrap up 2025, the TrueFi community deserves a clear and honest look at what we’ve accomplished over the past year and where we are going next. It has been a year of rebuilding from the inside out. Not the loud, flashy kind of rebuilding that makes headlines. The quieter kind where systems get untangled, expenses get streamlined, and foundations get strengthened so that meaningful growth can happen again.

2026 is going to bring some of the most exciting announcements in the project’s history. Before we get there, though, it is worth reflecting on how far the protocol has come.

TrueFi entered 2025 with a number of legacy issues that needed to be addressed. Much of this stemmed from earlier eras of the project where processes were handed off, wallets were scattered, contracts were unclear, and costs tended to drift upward rather than downward.

One of our core priorities this year was tackling those issues head-on. The most measurable result is the dramatic reduction of our monthly burn. At the start of the year, TrueFi’s monthly operating costs were still running above $400,000. Through systematic cost reviews, renegotiation of vendor relationships, consolidation of IT services, and a careful rethink of every recurring expense, we have brought that figure down to about $150,000 per month.

Importantly, we expect this number to fall even further in early 2026. Many of the decisions made over the past year have lagging cost benefits that will show up in the coming months. Of course, the goal is not austerity for its own sake. We’re ensuring that every dollar spent moves the protocol toward long-term sustainability and value creation.

Another major initiative in 2025 was completing the cleanup of legacy IT and service infrastructure. This included untangling systems still linked to old founder cards and reorganizing accounts so the DAO has clear, auditable control. While this type of work rarely gets attention, it is essential for any protocol that wants to operate responsibly and maintain security. It also took a long time to complete! That said, we are leaving 2025 with a much cleaner, simpler, and more transparent operational footprint than we started with.

Another meaningful win has been the work on wallet cleanup. As TrueFi evolved, various assets were scattered across legacy wallets, multisigs, and smart contracts that were no longer in active use. This led to stranded capital, as well as unnecessary complexity around financial reporting and treasury management.

In 2025 we took a systematic approach to reviewing all known addresses, recovering idle assets, standardizing ownership, and building a clean map of protocol-controlled capital. That effort is now in its final stages. Once completed, TrueFi will have a much tighter grip on its treasury and a clear picture of its resources as we enter 2026.

One of the most exciting developments this year was the completion of the Cyan acquisition. Cyan is a revenue-generating NFT lending platform with a talented team and a product that complements TrueFi’s long-held vision for permissionless credit markets.

This acquisition gives TrueFi exposure to a new category of on-chain credit, one that behaves differently from RWA lending (today) and opens the door to new use cases for both users and partners.

Cyan also launched on Hyperliquid in 2025, expanding its reach into one of the most active ecosystems in crypto. As we head into 2026, we are rolling out a new incentive program designed to encourage activity on Cyan in a way that is economically positive for the protocol. Unlike traditional emissions-based campaigns, ours focuses on strengthening activity and deepening real usage rather than paying for short-term spikes. Full details will be released publicly in the coming weeks.

The team at Cyan has been exceptional to work with. Their culture blends well with ours and we look forward to building with them in the coming year.

While much of our focus over the past year was dedicated to internal cleanup and infrastructure improvements, we also made progress on the user-facing side of TrueFi. The front end underwent a complete reskin, giving users a cleaner and more modern interface. Our aim is to make TrueFi feel intuitive and accessible while still maintaining the sophistication expected of an institutional-grade credit protocol.

Alongside the redesign, we have been integrating Keyring as a compliance gateway for the protocol. Now in final testing, this system will give institutions and regulated entities a smooth, secure way to access TrueFi without requiring bespoke integrations or manual processes. Compliance infrastructure is a critical ingredient for bringing larger borrowers, lenders, and market participants into the fold, and we are excited to roll this out in the coming days.

Another important step this year was our participation in Accountable’s $7.5 million round led by Pantera Capital. We’re big fans of Accountable. They’re a company whose technology and team will provide meaningful synergies as we resume growth in the lending business. Their expertise deepens TrueFi’s capabilities in risk, transparency, and reporting, all of which are essential for scaling responsibly. As markets recover and demand for credit increases, these capabilities will play a central role in re-establishing trust in RWA lending.

Although the external funding we expected for Elara did not come through, that has not slowed our momentum. The team developed a robust protocol that will allow TrueFi to operate a capital-efficient, economically aligned asset with real utility across the ecosystem. Even without outside capital, we retain full ownership of the intellectual property and are now exploring how to make use of it in a sustainable manner.

This work positions TrueFi well for future cycles, especially as stablecoins become the gravitational center of on-chain activity. The technical foundation we built also informed our next major development initiative.

We also shipped a major technical milestone: a CDP system on testnet that supports looping of yield-bearing assets. For users, this means the ability to deposit yield-generating tokens as collateral and borrow against them to purchase more of the same assets, amplifying potential returns in a controlled environment. This architecture opens the door for new product lines within TrueFi and potentially allows lenders to access leveraged yield in a transparent, risk-managed way. Early testing has been promising and we expect to share more in the new year.

We know the last few years have been difficult for the community. Trust was broken and the project struggled under the weight of legacy baggage. That is exactly why the current team approached 2025 with a focus on discipline, transparency, and execution.

We cleaned up operations. We recovered capital. We reduced unnecessary burn. We integrated new platforms. We made strategic acquisitions that strengthen our roadmap. And we laid the groundwork for new products that will define the next phase of TrueFi’s evolution.

All of this happened in a year when crypto token prices were broadly down and sentiment was mixed. Even so, the team is incredibly proud of what has been achieved. These results are the foundation of everything that comes next.

2026 is shaping up to be a transformative year. We have several important announcements on the way and a roadmap that is clearer, more focused, and more economically aligned than it has been in years.

Thank you to everyone in the community for your patience, your feedback, and your belief in what TrueFi can become. We wish you a restful holiday season and look forward to building with you in the New Year.

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