While crypto Twitter was consumed by Strategy’s latest bitcoin selloff rumors, a less noisy but more telling shift was underway. According to the Santiment update, altcoins across the board notched a strong weekly climb—MemeCore surged 89%, Cardano added 25%, and Bitcoin Cash tacked on 22%. Bitcoin itself held close to $64.5K after defending the psychologically important $60K level yet again. The relief rally caught many traders off guard, precisely because crowd sentiment had been so bearish.
What made the move stand out wasn’t just the size of the green candles. It was the rotation. As Bitcoin stabilized, capital began flowing back into riskier altcoin names that had been battered in late June. This week’s movement echoes patterns seen in other weekly top gainers roundups, where selective altcoin outperformance often signals a shift in speculative appetite. The crowd’s excessive focus on the Strategy FUD acted as a perfect distraction, letting big buyers quietly re-enter pockets of the market that had become oversold.
Rotation into Riskier Names Santiment’s data screener highlighted that gains were not restricted to a single sector. The list included MemeCore, Cardano, DEXE, Bitcoin Cash, and exchange token WhiteBIT—a mix that points to broad-based rebalancing rather than isolated pumps. Such breadth matters because it suggests institutional actors, not just retail degens, are dipping back in. When sentiment hit its late-June trough, the stage was set for a contrarian bounce. The $60K level for Bitcoin has now held multiple times, providing a floor that emboldened dip buyers across the altcoin space.
Still, not everything flashed green. One token, $M, dropped 17%, reminding traders that even during relief rallies, risk remains unevenly distributed. Developer activity remains concentrated on networks that have seen steady building through market cycles, but short-term speculative flows often ignore those fundamentals. The Santiment update noted that while most assets swam in a sea of green, those with thin liquidity or ongoing negative catalysts continued to bleed.
What the Crowd Might Be Missing Regulatory noise has been a persistent headwind. Despite regulatory uncertainty in Washington that recently saw banks pushing against landmark crypto legislation, on-chain signals haven’t aligned with the fear narrative. The combination of Bitcoin defending its key support and altcoins bouncing despite negative headlines hints that the sell-side pressure may have been exhausted—at least for now. The crowd’s hyper-focus on Strategy-related fear left it blind to accumulating strength elsewhere.
What remains uncertain is whether this rotation has legs. Historically, summer altcoin rallies can fizzle without a strong macro tailwind. But the fact that big buyers stepped in when sentiment was at its worst suggests that the move is not purely a short-squeeze. If the $60K floor continues to hold, the next test will be whether altcoin gains can sustain without a broader breakout above $67K for Bitcoin. For now, the market is quietly rewarding the bullish minority that bet against the prevailing doom.
AUTHOR
Freelance writer and crypto enthusiast with a focus on Web3, delivering clear and engaging articles. Known for his well-researched articles and insightful analysis, Shayan covers a broad range of topics including market trends, blockchain technology, decentralized finance (DeFi), and emerging crypto projects. His writing aims to educate both beginners and experts, providing clear, engaging content that helps readers stay informed about the fast-evolving crypto space. Shayan's expertise and dedication make him a trusted voice in the blockchain community.
Strategy has sold another large batch of Bitcoin, prompting comparisons with its only previous major BTC sale in late 2022.
A popular post on X noted that the last time Michael Saylor’s company sold a significant amount of Bitcoin, BTC later climbed roughly fivefold from its bear-market low. Some traders believe history could repeat itself.
Strategy Sells 3,588 BTC to Fund Dividends On Monday, Michael Saylor announced that Strategy sold 3,588 BTC for approximately $216 million. The proceeds will fund dividends on the company’s Digital Credit securities. After the sale, Strategy said it still holds:
843,775 BTC in its Bitcoin reserves. $2.55 billion in U.S. dollar reserves. The latest transaction follows the sale on June 30, when Strategy sold 1,363 BTC for about $80.77 million at an average price of $59,256 per BTC. Meanwhile, the company also sold 2,225 BTC for $135.22 million at an average price of $60,773.
In total, the company has sold 3,588 BTC within a week. Based on Strategy’s average purchase price of $75,651 per BTC, the BTC sale resulted in a realized loss of more than $55.44 million.
Earlier in June, the company also sold a much smaller 32 BTC for about $2.47 million at an average price of $77,135.
First Major Sales Since the 2022 Bear Market Before this recent selling activity, Strategy’s only notable Bitcoin sale came in December 2022. The company sold 704 BTC at roughly $16,500 per coin as part of a tax-loss harvesting strategy. The sale generated approximately $11.8 million.
The move was short-lived. Strategy soon repurchased 810 BTC, leaving its long-term Bitcoin strategy largely unchanged. Aside from that transaction, the company had not made any significant Bitcoin sales until this year’s activity.
The timing has drawn attention because both selling periods occurred during bear markets. Notably, Bitcoin traded near $16,400 during the December 2022 sale and later reached $126,200 in October 2026. This represents over 7.7x price expansion.
Meanwhile, the recent sales came after BTC had fallen about 50% from its all-time high, trading near $58,000 before rebounding. At press time, Bitcoin had recovered about 6% to around $63,010.
Source: saylortracker What Another 5x Rally Would Look Like If Bitcoin’s price repeats the roughly 7.7x rally that followed the 2022 bear market low, BTC could reach about $484,800 from its current price of around $63,010.
With approximately 20.05 million BTC in circulation, that price would value Bitcoin at roughly $9.72 trillion. However, whether such a rally happens remains uncertain.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Key Highlights Cloud infrastructure expenditure worldwide surged to $129B in Q1 2026, marking a 35% annual increase Microsoft’s Azure platform posted 40% revenue growth YOY during Q3 FY2026, capturing approximately 21% of global cloud market Jefferies maintains Buy recommendation with $675 target price on MSFT; Citizens reaffirms Market Outperform with $550 objective Shares have declined roughly 20% year-to-date, currently valued at 20.25x forward earnings versus sector mean of 24.61x Wall Street consensus from 50 analysts shows Strong Buy, with mean price target at $552.27 suggesting approximately 43% potential gain Shares of Microsoft (MSFT) have retreated approximately 20% during 2026, currently hovering near $386.74. This downturn has compressed the forward price-to-earnings ratio to 20.25x — substantially beneath the technology sector’s 24.61x average. Despite the stock’s weakness, the company’s core operations continue demonstrating robust expansion, capturing significant attention from financial analysts.
Microsoft Corporation, MSFT
Jefferies maintains its Buy recommendation on MSFT with an ambitious $675 price objective. The investment firm emphasized Microsoft as a premier opportunity within the ongoing cloud computing expansion cycle, specifically citing Azure’s accelerating market penetration as justification for their optimistic stance.
Worldwide cloud infrastructure investments totaled $129 billion during Q1 2026, representing a 35% year-over-year surge. Major technology companies have substantially increased their capital spending blueprints for 2026 from approximately $600 billion to roughly $750 billion — a remarkable 67% escalation — while early 2027 forecasts already approach the $1 trillion threshold.
Azure stands positioned as a primary beneficiary of this trend. During Microsoft’s third fiscal quarter of 2026, Azure revenues expanded 40% compared to the prior year, exceeding Wall Street projections. The platform now commands approximately 21% of worldwide cloud infrastructure services, ranking second only to Amazon Web Services. Management indicates current customer demand consistently surpasses available infrastructure capacity.
The company’s Q3 FY2026 performance demonstrated strength throughout all segments. Consolidated revenues advanced 18% reaching $82.9 billion. Operating profits increased 20% to $38.4 billion, while net earnings surged 23% to $31.8 billion — translating to $4.27 per diluted share.
Microsoft Cloud revenues totaled $54.5 billion, reflecting 29% growth. Commercial remaining performance obligations nearly doubled with a 99% increase to $627 billion — signaling substantial future revenues already contracted.
The Intelligent Cloud division generated 30% growth reaching $34.7 billion. Productivity and Business Processes revenue expanded 17% to $35.0 billion. The More Personal Computing segment declined 1% to $13.2 billion.
Wall Street Perspectives Citizens reaffirmed its Market Outperform rating alongside a $550 price objective on July 7. The firm highlighted CEO Satya Nadella’s artificial intelligence sovereignty initiatives and anticipates revenue acceleration to 17% during FY2026 from 15% in FY2025. Operating margins are forecast to widen from 46% to 47%.
Benchmark analyst Yi Fu Lee launched coverage during April 2026 with a Buy rating, characterizing Microsoft as a “pivotal force in AI” possessing data advantages competitors cannot easily duplicate — referencing 1 billion Windows installations, 300 million Office subscriptions, plus LinkedIn, GitHub, and Azure’s extensive enterprise presence.
Wedbush analyst Dan Ives maintains an Outperform designation with a $575 target, asserting Wall Street consistently underappreciates Azure’s expansion momentum.
Among 50 analysts providing coverage, the prevailing consensus registers as Strong Buy. The average price objective of $552.27 suggests approximately 43% appreciation potential from present trading levels.
Growth Catalysts and Initiatives Microsoft executed a two-decade power supply agreement with Chevron’s Energy Forge One division to construct Project Kilby throughout West Texas — an infrastructure project anticipated to generate approximately 2.67 gigawatts supporting Microsoft’s data center operations.
The technology giant collaborates with Mayo Clinic developing an artificial intelligence platform for healthcare applications utilizing de-identified patient information, concentrating on enhanced early detection capabilities and personalized treatment protocols.
Microsoft’s next quarterly report arrives July 29. Wall Street anticipates Q4 FY2026 earnings per share of $4.21, compared with $3.65 during the comparable period — representing 15.3% expansion. Full-year FY2026 consensus estimates stand at $16.76 per share, advancing from $13.64 in FY2025.
Italy’s competition authority recently launched an inquiry examining Microsoft regarding potentially anticompetitive conduct connected to Microsoft 365 pricing adjustments associated with Copilot and Designer feature integration.
Crypto gaming company Yield Guild Games says it has shut down its crypto game publishing arm, YGG Play, and will instead focus on feeding data to artificial intelligence.
Yield Guild Games said Monday that it would also lay off 35 employees, adding that a prolonged crypto market downturn and a “similarly brutal” video game publishing market meant YGG Play “cannot be commercially sustainable.”
It said a major market crash on Oct. 10 “fundamentally altered retail market psychology, and we do not expect the crypto consumer market or the Web3 games publishing market to recover sufficiently in the near term.”
The layoffs add to the more than 5,000 jobs that crypto companies have cut this year, with many citing a crypto market slump and a refocus toward opportunities presented by artificial intelligence.
“Sunsetting YGG Play is a heavy decision, but it is a market decision, not a product decision,” Yield Guild Games co-founder Gabby Dizon said. “I am proud of what this team achieved under such tough conditions.”
Source: Yield Guild Games
Yield Guild Games said it would be closing YGG Play’s website, its web app that launched games and its community-focused rewards site. It would also end all marketing support for third-party games.
The company’s board game-style browser game LOL Land and its puzzle game Waifu Sweeper would also be taken down. The Web3 versions of the baseball game GIGACHADBAT and the battle game Ragnarok Breaker would continue as normal.
The company said sunsetting YGG Play and its restructure would extend its operating runway to four years, adding it had $20.6 million in its treasury as of the end of the first quarter.
Yield Guild pivots to AI dataYield Guild Games said it would refocus its resources “into the AI data economy” to provide information that can be used to train AI models.
It will initially create a pipeline for gaming datasets, and said its global community “can generate these behavioral datasets just by playing.”
The company said it was “an organic next step” and the data would help AI networks understand “human irrationality and emergent behavior,” as video game players “constantly make complex, split-second decisions.”
More than 5,000 crypto layoffs in 2026The crypto industry has cut over 5,000 jobs so far this year, with Block Inc. undertaking the largest round of layoffs in February by cutting 4,000 staff, or about half its workforce at the time.
Last month, crypto infrastructure company BitGo laid off 15% of its staff, an estimated 90 people, while Robinhood cut 10% of its workforce.
Earlier in the year, Kraken laid off 150 workers, and Coinbase cut 700 employees. Gemini also laid off 200 employees in February and Crypto.com cut about 180 staff a month later, both citing the use of AI.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Crypto gaming company Yield Guild Games says it has shut down its crypto game publishing arm, YGG Play, and will instead focus on feeding data to artificial intelligence.
Yield Guild Games said Monday that it would also lay off 35 employees, adding that a prolonged crypto market downturn and a “similarly brutal” video game publishing market meant YGG Play “cannot be commercially sustainable.”
It said a major market crash on Oct. 10 “fundamentally altered retail market psychology, and we do not expect the crypto consumer market or the Web3 games publishing market to recover sufficiently in the near term.”
The layoffs add to the more than 5,000 jobs that crypto companies have cut this year, with many citing a crypto market slump and a refocus toward opportunities presented by artificial intelligence.
“Sunsetting YGG Play is a heavy decision, but it is a market decision, not a product decision,” Yield Guild Games co-founder Gabby Dizon said. “I am proud of what this team achieved under such tough conditions.”
Source: Yield Guild Games
Yield Guild Games said it would be closing YGG Play’s website, its web app that launched games and its community-focused rewards site. It would also end all marketing support for third-party games.
The company’s board game-style browser game LOL Land and its puzzle game Waifu Sweeper would also be taken down. The Web3 versions of the baseball game GIGACHADBAT and the battle game Ragnarok Breaker would continue as normal.
The company said sunsetting YGG Play and its restructure would extend its operating runway to four years, adding it had $20.6 million in its treasury as of the end of the first quarter.
Yield Guild pivots to AI dataYield Guild Games said it would refocus its resources “into the AI data economy” to provide information that can be used to train AI models.
It will initially create a pipeline for gaming datasets, and said its global community “can generate these behavioral datasets just by playing.”
The company said it was “an organic next step” and the data would help AI networks understand “human irrationality and emergent behavior,” as video game players “constantly make complex, split-second decisions.”
More than 5,000 crypto layoffs in 2026The crypto industry has cut over 5,000 jobs so far this year, with Block Inc. undertaking the largest round of layoffs in February by cutting 4,000 staff, or about half its workforce at the time.
Last month, crypto infrastructure company BitGo laid off 15% of its staff, an estimated 90 people, while Robinhood cut 10% of its workforce.
Earlier in the year, Kraken laid off 150 workers, and Coinbase cut 700 employees. Gemini also laid off 200 employees in February and Crypto.com cut about 180 staff a month later, both citing the use of AI.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Yield Guild Games will shut down YGG Play, its crypto game publishing arm, after deciding the business is no longer commercially sustainable.
Summary
Yield Guild Games is cutting 35 jobs and closing YGG Play after weak gaming demand. YGG will focus on gaming datasets for AI after extending total runway to four years. The shutdown adds to crypto layoffs as firms shift resources toward automation and AI products. The company blamed weak crypto market conditions and a difficult video game publishing market.
YGG said the Oct. 10 market crash changed retail trading behavior and reduced the liquidity that many consumer crypto apps need. It said Bitcoin later fell below $60,000, while several altcoins lost 80% or more from prior levels.
The company said YGG Play had shown early traction before conditions worsened. It signed nine games, worked with intellectual property brands such as Pudgy Penguins, launched a publishing platform, and passed $9 million in lifetime revenue by the end of the first quarter of 2026.
35 staff affected by restructuring The shutdown will affect 35 workers across different teams. YGG said it would help those employees find new roles and invited companies to contact it for hiring referrals.
Today, we are sharing some difficult news with our community: after much consideration, we have made the decision to sunset @YGG_Play, YGG’s publishing arm.
Our team set out to prove the Casual Degen gaming thesis, and they absolutely delivered. However, the realities of the… pic.twitter.com/36w410DmNR
— Yield Guild Games (@YieldGuild) July 6, 2026 The company will retire the YGG Play website, launchpad, and community rewards platform. It will also stop marketing support for third-party games. LOL Land and Waifu Sweeper will be taken down, while GIGACHADBAT and Ragnarok Breaker will continue through their own studios.
“Sunsetting YGG Play is a heavy decision, but it is a market decision, not a product decision,” said YGG co-founder Gabby Dizon.
He added that the company remains focused on using technology to create economic opportunities.
Sad news today – we are sunsetting our Web3 game publishing unit @YGG_Play, and 35 jobs will be affected as a result. We're committed to paying 8 additional weeks for our team to manage the transition and will help them find new roles.
YGG Play games – @LOLLandGame @waifusweeper… https://t.co/gzpaG98KwQ
— Gabby Dizon | YGG (@gabusch) July 6, 2026 Company turns toward AI data YGG said it will now move resources into the AI data economy. Its first focus will be a business-to-business pipeline for gaming datasets that can help train AI models.
The company said games can produce useful data because players make fast and complex decisions during play. YGG said its global community can help create behavioral datasets by playing games and completing related tasks.
YGG also pointed to its AI Alerts channel, formerly YGG Alerts, as part of the new direction. The company said the channel has already brought in 27,000 applications in its first five days by connecting Filipino workers with remote AI training jobs.
Crypto and gaming layoffs continue The move adds to broader job cuts across crypto and gaming. As previously reported, Kraken cut about 150 jobs as AI tools took on a larger role across the exchange. Coinbase, Gemini, and Dune also reduced staff this year while reshaping operations.
In addition, BitGo cut nearly 15% of its workforce while shifting focus toward security, trading, stablecoins, settlement, and AI infrastructure. The cuts showed how crypto firms have continued to review costs after weaker market conditions.
The web3 gaming sector has also faced pressure. As previously reported, blockchain gaming activity fell in 2025 as user numbers dropped, funding slowed, and hundreds of gaming apps went inactive.
YGG said its treasury stood at $20.6 million at the end of the first quarter. It held $6.2 million in stablecoins, T-bills, and large-cap tokens. The company said the restructuring extends its operating runway to four years.
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.
Earn on USDThe most proven yield engine in DeFi now comes to stablecoinsFor four years, the Fluid Lite ETH Vault has been the biggest and most popular yield strategy on Ethereum, growing to roughly $2B in assets under management. That infrastructure has kept working through every market cycle.
Now we're bringing the infrastructure to stablecoins.
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What is Fluid Lite USD?Fluid Lite USD is an automated vault that pays a fixed rate with a minimum 6% APR on stablecoin deposits. The rate can go higher, and historically it's typically ranged between 8% and 10%. The 6% is the floor. Unlike variable-rate DeFi products where your returns swing with market volatility, Fluid Lite USD uses a governance-set fixed rate, so your yield stays predictable, every single day.
No sudden drops. No chasing rates. Just stable, dependable earnings.
That makes Fluid Lite USD an ideal savings product for individual users, wallets, fintechs, and institutional distributors looking for reliable stable-yield infrastructure.
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Deposit stablecoins into the vault
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Because the rate is fixed rather than floating, your APR doesn't move when markets get volatile. The vault handles the strategy automatically. You don't need to manage positions, rebalance, or monitor anything.
Cross-chain by designFluid Lite USD is live on Ethereum, with cross-chain yield strategies spanning Arbitrum, Plasma, and Ethereum. That means the vault can source yield across multiple networks while keeping the user experience unified and simple.
The yield-bearing stablecoins behind the vaultFluid Lite USD initially supports three institutional-grade, yield-bearing stablecoins:
sUSDe — EthenaUSDe is a synthetic dollar backed by delta-hedged positions, making it one of the highest-yielding stablecoin-adjacent assets in DeFi. Its staked version, sUSDe, passes that yield through to holders.
syrupUSDC & syrupUSDT — Maple FinanceMaple Finance is an institutional-grade, onchain asset manager offering secured lending and yield products. Its syrup tokens bridge traditional finance with DeFi, bringing institutional credit strategies on-chain.
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Why fixed-rate mattersMost DeFi yield products advertise high APRs that evaporate the moment conditions change. Fixed-rate yield flips that model. With a governance-set rate, you know what you're earning before you deposit. That's exactly what wallets, fintechs, and institutions need to build dependable savings products on top of.
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Bonk (BONK) remains under pressure, trading below $0.0000044 on Tuesday after losing over 10% in the previous day. Monday’s correction occurred as Bonk Decentralized Autonomous Organization (DAO) announced a governance exploit that resulted in the theft of $20 million worth of BONK tokens from its treasury. The security incident has dampened investor sentiment, fueling the ongoing price correction in the meme coin.
Malicious governance proposal drains $20 million worth of BONK tokensBonk’s official X account announced on Monday that BonkDAO was the target of a malicious governance proposal that resulted in an estimated $20 million in BONK tokens being drained from the BonkDAO treasury.
“During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is currently actively working with exchanges, bridges and Solana Foundation to best manage the situation,” said Bonk on its X post.
The project said that it has notified the hack to law enforcement and that it is collaborating with relevant parties to recover the funds and identify the attackers.
This security issue has weighed on investor sentiment, with BONK price correcting over 10% following this incident and extending the fallout into Tuesday.
If the attackers move the stolen BONK tokens to exchanges to liquidate the holdings, it would bring renewed selling pressure.
Bonk Price Forecast: Faces rejection from 50-day EMABonk price faced rejection from the 50-day Exponential Moving Average (EMA) at $0.0000048 on Monday and corrected over 10% that day. At the time of writing on Tuesday, BONK extends its decline, trading below $0.0000045.
If the meme coin continues its correction, it could extend the losses toward the June low of $0.0000039.
Momentum indicators send mixed signals. The Relative Strength Index (RSI) on the daily chart reads 45, below the neutral level and indicating bearish momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) continues to flash a bullish crossover, hinting at improving underlying momentum.
BONK/USDT daily chartIf BONK recovers, it could extend the advance toward the 50-day EMA at $0.0000048.
BonkDAO has become the latest crypto hack victim, after suffering a $20 million loss. The memecoin project confirmed that the exploit was enabled by a “malicious governance proposal.”
It added that it was collaborating with law enforcement, the Solana Foundation, bridges, and exchanges to mitigate the situation.
The BonkDAO exploit adds to a growing list of crypto stolen funds that hit a record high in H1 2026.
Source: X However, security analysts have flagged the exploited weakness as the failure of the memecoin project.
Community blames Bonk for the exploit The BonkDAO attacker acquired enough BONK to create a new governance proposal (Sowellian BonkDAO). With only a 1% community vote threshold, the attacker was able to create a proposal that added ‘metadata’ and sent 4.4 trillion BONK (approximately $20 million) to the hacker’s wallet.
One security analyst slammed the 1% community threshold configuration. He highlighted that direct treasury transfers should have a lock period or require multiple approvals. He added that,
Kinda silly, to be honest, to have such configurations, but yeah sad to see one of the OG projects.
For Taylor Monahan, another renowned Web3 security researcher, the update underscored how useless the broader DAO (decentralized autonomous organization) model is. For her, there is no need to “incentivize democracy” through DAOs at the expense of security.
In other words, the hack is part of the broader ‘operational security’ failures that have been the major driver of the record number of exploits in 2026.
BONK memecoin dumps 10% BONK memecoin price crashed 10% following the exploit update. The losses could extend to the June range low of $0.0000040, which also doubled as the October crash dip.
Source: BONK/USDT, TradingView Since June, bulls have been able to defend the support. Whether it will hold after the exploit remains to be seen.
On the demand front, especially from whale wallets, there was a negligible change. Only two whale wallets with over 1T BONK reduced their spot exposure to the memecoin. Overall, whale wallets with over 10M BONK have been accumulating since mid-June.
Source: Santiment If the spot accumulation by whales continues, the June price range could be extended. However, if the exploit and broader market sentiment worsen into Q3, the memecoin could print a new yearly low on the price chart.
Final Summary The $20M Bonk treasury exploit was another operational security failure, according to analysts. On-chain data showed whales have been accumulating since June, and the exploit didn’t taper the demand.
Bonk (CRYPTO: BONK) plummeted on Monday after hackers drained nearly $20 million worth of the memecoin from the project’s treasury.
‘Malicious Governance Proposal’BonkDAO, the decentralized autonomous organization tied to the Solana (CRYPTO: SOL)-based cryptocurrency, said that it became the target of a “malicious governance proposal,” resulting in the loss of tokens.
BonkDAO added that it has traced the wallets linked to the hack and is currently coordinating with major exchanges, bridges, and the Solana Foundation to “manage the situation.”
“Law enforcement has been notified. BonkDAO continues to work with relevant parties to recover funds and identify those responsible,” it said.
What Really Happened?According to blockchain analytics firm Chainalysis, the attack began on June 30 when an anonymous wallet submitted a proposal to drain BONK’s treasury.
Then, over the weekend, a separate wallet acquired $8 million worth of BONK through exchange purchases and DeFi borrowing to secure 1% of the coin’s total supply—enough to pass the proposal.
The attacker drained $20 million into an exploiter wallet. Of this amount, they transferred $188,000 to a cryptocurrency exchange, likely to cash out, while sending the remaining $19 million to a multisig wallet, where the funds remain.
BONK Loses Further Ground The massive hack added to the mounting challenges plaguing the dog-themed memecoin, which has already plunged 40% year-to-date and 80% over the last year.
It remains the third-largest meme coin in the Solana ecosystem, with a market capitalization exceeding $390 million. At its peak, it was valued at over $4 billion.
Price Action: At the time of writing, BONK was exchanging hands at $0.000004434, down 7.84% in the last 24 hours, according to data from Benzinga Pro.
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BonkDAO lost about 20 million dollars on Monday following a governance attack that the team describes as malicious. An adopted proposal allowed transferring 4.4 trillion BONK tokens to the address of a suspected attacker. Will investigators be able to recover the funds?
In Brief: BonkDAO lost $20 million in a malicious governance attack on July 6, 2026. The approved proposal, dubbed “Sowellian BonkDAO,” resulted in 4,400 billion BONK tokens being sent to a suspected attacker. Kraken and Upbit suspended BONK deposits and withdrawals following the incident. How did the governance attack drain the treasury on Solana? The incident occurred around 4 AM Eastern Time on Monday, amidst the buzz around memecoins on Solana. More than 4.4 trillion BONK tokens, worth about 19.3 million dollars at the time of writing, left BonkDAO’s treasury wallet.
The protocol uses an on-chain voting system to validate its governance proposals. This architecture, designed to decentralize decisions, allowed the attacker to have their text adopted without centralized human intervention.
Improvement proposal number 76, titled “Sowellian BonkDAO”, notably planned to “rebuild from its ashes” and reward favorable voters. However, BonkDAO confirmed on X that the suspicious address, funded by a Bybit account according to Solscan, did not redistribute any tokens.
The token was then transferred further. Around 3:30 PM Eastern Time, the funds reached a second Solana address ending in “eh42”.
What are the consequences for exchanges and the BONK price? Upbit and Kraken reacted quickly. Both platforms suspended BONK deposits and withdrawals as soon as the incident was announced.
The South Korean platform justified its decision by measures to protect users after a security incident. Moreover, BonkDAO says it is collaborating with law enforcement and Solana ecosystem cross-chain bridges to trace the funds.
At the same time, the incident renews the debate on the security of on-chain votes in crypto DAOs. Several projects have already suffered similar attacks, usually through the massive purchase of governance tokens before a key vote.
The token dropped about 7% in 24 hours, around 0.0000043 dollar. However, this level remains 93% below its all-time high of 0.000058 dollar.
BONK reached this peak in December 2024, during the memecoin boom on Solana. At that time, the token was among the top 100 cryptocurrencies by market capitalization.
BonkDAO promises regular communication as the investigation progresses. Holder confidence will now depend on the project’s ability to recover the funds. Other crypto DAOs might nonetheless review their voting mechanisms after this governance flaw.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
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.
Lighter and Mantle, two Ethereum-adjacent networks with very different value propositions, are both experiencing their highest whale transaction activity in six months, according to on-chain data from Santiment.
Lighter’s whale magnets: buybacks and volume Lighter operates as a zero-knowledge rollup built specifically for decentralized perpetual futures trading on Ethereum, where the ZK infrastructure handles order matching and throughput.
The protocol has been running an aggressive buyback program, repurchasing approximately 15.5 million of its native LIT tokens. That represents roughly 6.3% of the total token supply, funded directly from treasury revenues.
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In a single seven-day window in early January, wallets accumulated over $3.8 million worth of LIT. One particularly notable wallet held around 13.2 million LIT, valued at approximately $40 million at the time.
Lighter’s platform surpassed $200 billion in 30-day trading volume on its perpetual DEX, a figure that puts it ahead of several more established competitors. The infrastructure can reportedly process tens of thousands of orders per second with millisecond latency and zero fees for retail traders.
Mantle’s quiet rise in the layer 2 wars Mantle Network positions itself as a modular Ethereum Layer 2 solution with a primary emphasis on liquidity and capital efficiency.
Santiment data flagged Mantle’s token, MNT, as the number one network for increases in transactions worth $100,000 or more back in August 2025.
The Layer 2 landscape is crowded. Arbitrum, Optimism, Base, and zkSync all compete for developer attention and user capital. Mantle’s differentiator has been its treasury, one of the largest in crypto, which gives it significant runway to incentivize adoption and build partnerships.
What this means for investors For Lighter specifically, the combination of a supply-reducing buyback program and surging trading volume creates a relatively straightforward bull case. If the protocol continues generating revenue sufficient to fund buybacks while maintaining its volume trajectory, LIT holders benefit from both reduced supply and growing fundamental utility.
One pattern worth watching: new wallets have been making multi-million-dollar initial investments in both tokens. Fresh wallet creation paired with large first deposits is a classic on-chain signal of institutional or high-net-worth entry, not existing holders reshuffling positions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Binance will add 10 bStocks tokenized securities as collateral assets.
According to official announcements, Binance will add 10 bStocks tokens as eligible collateral assets for its Cross Margin, Unified Account, and Unified Account Pro products at 21:30 (UTC+8) on July 7, 2026. The new tokens include Alphabet (GOOGLB), Qualcomm (QCOMB), Coinbase (COINB), State Street SPDR S&P 500 ETF Trust (SPYB), Western Digital (WDCB), Corning (GLWB), Nebius (NBISB), Semicon Bull 3X ETF (SOXLB), Roundhill Memory ETF (DRAMB), and Cerebras (CBRSB). Corresponding bStocks trading pairs will also open for leveraged trading, enabling eligible users to use these tokens as margin collateral to expand collateral options for margin trading.
7 minutes ago
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
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Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
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Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
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He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
CHONBURI – Khao Kheow Open Zoo in Chonburi is preparing to welcome tourists and fans for a three-day celebration marking the second birthday of Moo Deng, Thailand’s world-famous pygmy hippopotamus.
The event, titled “Moo Deng HAPPY Deng DAY,” will be held from July 10 to 12, 2026, at the hippopotamus enclosure at Khao Kheow Open Zoo.
Zoo director Narongwit Chodchoi said the celebration will also mark the launch of an exhibition for the new Hippo Village project, a planned exhibit-area development designed to improve animal welfare and create a more modern learning experience for visitors.
The birthday festival is expected to bring renewed attention to Moo Deng, whose baby pictures and playful personality turned her into one of Thailand’s biggest animal celebrities in 2024 before the initial online frenzy softened as she grew older.
Viral star returns to the spotlightMoo Deng became a global sensation shortly after her birth on July 10, 2024, with videos and photos of the tiny pygmy hippo spreading quickly across social media. Her name, often translated as “bouncy pork”, became familiar far beyond Thailand, helping turn Khao Kheow Open Zoo into a must-visit stop for many domestic and international tourists.
At the height of Moo Deng fever, visitors flocked to the zoo to see her in person, while brands and fans embraced her image through memes, merchandise and online fan content. The surge was so strong that the zoo had to manage viewing times and visitor flow to protect the animal and maintain order around the enclosure.
As Moo Deng grew beyond her baby stage, the wave of online attention appeared to cool from its viral peak.
However, the zoo’s second birthday celebration is being positioned as a chance to bring fans back to Chonburi and reconnect Moo Deng’s popularity with wildlife education, family tourism and animal welfare.
Birthday cake, fan meeting and keeper teamOn July 10, Moo Deng’s actual birthday, visitors will be invited to join a birthday song activity and present a special birthday cake to the pygmy hippo.
Fans will also be able to take part in a fan meeting with “Captain Wit” and members of Moo Deng’s popular keeper team, including Phi Benz, Phi Nick and Phi Toad, together with the Zoo Keeper Creator team.
The zoo said the activities are designed to create a warm, family-friendly atmosphere while allowing visitors to learn more about the daily work of animal keepers and the care of pygmy hippos.
Hippo Village project to be showcasedA key highlight of the event will be the exhibition for Hippo Village, a new development project for the hippopotamus display area.
According to the zoo, the project aims to raise the quality of life for animals while offering visitors a more engaging and up-to-date educational experience. The exhibition will introduce the concept and planned development of the new hippo zone to the public during the birthday festival.
The project also reflects the zoo’s effort to move Moo Deng’s fame beyond short-term internet popularity and towards long-term conservation awareness and responsible tourism.
Three days of activities for families and fansThroughout the three-day event, visitors can enjoy a range of activities around the venue, including a wildlife mascot parade, game booths with prizes, a birthday card-writing activity for Moo Deng, and the sale of exclusive Moo Deng souvenirs.
Local products from Chonburi will also be available through One Tambon One Product booths, adding a community tourism element to the celebration.
The zoo hopes the festival will encourage families, tourists and fans to spend more time in Chonburi while supporting local products and zoo-based learning activities.
Free admission for children and seniorsFrom July 10 to 12, Khao Kheow Open Zoo will offer free admission to children aged 12 or under, or those no taller than 135cm as well as visitors aged 60 and above.
The free-entry offer applies throughout the event period, although vehicle entry fees will still be charged.
Khao Kheow Open Zoo is inviting tourists and Moo Deng fans to join the birthday celebration, visit the Hippo Village exhibition and take part in the special activities. THE NATION/ASIA NEWS NETWORK
The majors are running. Ethereum is up 11.7% on the week, Solana 10%, Bitcoin 6.4%. The meme sector? Dogecoin managed 4.17%. That gap is the whole story of this list: risk appetite is back at the top of the market, and it has not fully rotated down to memes yet. That is either a warning or a window, depending on how you read it.
First, the frame. There is no single best meme coin. Anyone who tells you otherwise is selling something. What exists is a set of tokens with very different liquidity, holder bases and risk profiles, and this guide ranks them by what the data says on July 7, 2026, not by what Twitter is shouting. Every pick below comes with its case and its risk, side by side.
The One Number That Matters Before the list, one figure: 90.62%. That is MemeCore‘s 7-day gain. On the same screen, its 24-hour move reads minus 10.04%. A token that runs 90% in a week and then drops double digits in a day is the meme market in miniature. The upside is real, the reversals are faster, and the people who buy the top of a vertical candle fund the people who bought the bottom. Keep that number in mind while reading everything below.
1. Dogecoin (DOGE): the liquidity king that missed the party Price: $0.07537. Market cap: $11.68 billion. 24h volume: $812.2 million. Live chart on CoinGecko.
The case: DOGE is the only meme coin with the market depth of a mid-cap tech stock. An $812 million daily volume means size can enter and exit without moving the price much, which is why every meme rotation in history has eventually passed through Dogecoin. It is also, right now, the laggard: up just 4.17% on the week while ETH and SOL printed double digits. Historically, when majors run first, the meme majors catch up later. If that pattern repeats, DOGE has the most obvious room.
The risk: DOGE was red on the day (minus 1.53%) while nearly the entire top 10 was green. A coin that cannot stay bid on a broadly green day is telling you conviction is thin. There is no supply cap either, so DOGE needs constant new demand just to stand still.
2. Shiba Inu (SHIB): the sleeping giant with a turnover problem Price: $0.00004360. Market cap: $2.56 billion. 24h volume: $73.9 million. Chart on CoinGecko.
The case: SHIB still holds the second largest meme community and a $2.5 billion base that has survived every drawdown since 2021. It gained 2.92% this week without any visible catalyst, which suggests the holder base simply is not selling. When SHIB moves, it moves late and hard; the coin has a history of compressing for months and then repricing in days.
The risk: the volume. $73.9 million of daily turnover against a $2.56 billion cap is under 3%, the lowest ratio among the large memes on this list. Compare PEPE below. Low turnover means the market is not paying attention, and a coin can stay ignored far longer than a thesis survives.
3. Pepe (PEPE): where the meme money actually is right now Price: $0.000002709. Market cap: $1.12 billion. 24h volume: $207.28 million. Chart on CoinGecko.
The case: PEPE is the strongest large meme of the week, up 15.67%, and the volume backs it. $207 million of turnover on a $1.12 billion cap is roughly 18.5% of the market cap changing hands daily, nearly seven times SHIB’s ratio. That is what genuine rotation looks like. Traders vote with volume, and this week they voted frog.
The risk: what runs first corrects first. A 15% weekly gain in a meme coin is routine, and so is giving half of it back. PEPE also has no ecosystem story to fall back on; it is pure attention, and attention is the least stable asset in crypto.
4. Bonk (BONK): Solana’s house meme, bruised but bid Price: $0.00004402. Market cap: $387.36 million. 24h volume: $130.32 million. Chart on CoinGecko.
The case: BONK remains the flagship meme of the Solana ecosystem, and Solana itself is up 10% on the week. When SOL runs, capital historically spills into its native memes with a lag. BONK’s volume ratio (about a third of its cap trading daily) shows it is anything but forgotten.
The risk: it fell 7.66% in the last 24 hours against a green market, one of the ugliest daily prints on this list. Someone large is selling into strength. Until that flow exhausts, BONK is a knife.
5. SPX6900 (SPX): the quiet climber Price: $0.3840. Market cap: $357.57 million. 24h volume: $8.13 million. Chart on CoinGecko.
The case: up 9.46% on the week with barely any turnover ($8.13 million). That combination usually means a tight holder base that refuses to sell, so small buys move the price. Coins with this profile can rerate violently when volume finally arrives.
The risk: the same illiquidity cuts both ways. An $8 million daily volume on a $357 million cap means the exit door is narrow. If sentiment turns, the slippage on the way out will hurt more than the chart suggests.
6. Floki (FLOKI): the marketing machine Price: $0.00002340. Market cap: $223.89 million. 24h volume: $19.15 million. Chart on CoinGecko.
The case: a steady 4.81% weekly gain, no drama, and one of the more persistent marketing operations in the sector. FLOKI survives cycles, which is rarer than it sounds in meme land.
The risk: at $223 million it competes for attention against coins ten and fifty times its size, and this week the attention went elsewhere.
Honorable mentions, and one warning Pudgy Penguins (PENGU), $418 million cap, up 7.48% on the week, is the NFT-brand crossover play and quietly outperformed DOGE. OFFICIAL TRUMP (TRUMP) at $396 million is flat on the week (minus 0.02%) and remains a headline-driven token; treat any position as event risk, not investment. And MemeCore (M), the 90% weekly runner now dumping 10% a day, is the warning label of this entire market: this is speculation at its purest, and buying a vertical chart is how most meme-coin losses happen. That is not a prediction, it is arithmetic.
Key Levels to Watch DOGE: $0.070 is the floor that has to hold; above $0.080 the laggard trade starts working. SHIB: a weekly close above $0.00004800 would be the first sign of the sleeper waking. PEPE: holding $0.0000025 keeps the leadership intact. BONK: the 24-hour dump needs to stop above $0.000040 or the Solana spillover thesis waits.
Bottom Line The data says the meme sector is a step behind the majors this week, PEPE is the one exception with volume to prove it, DOGE has the most room if rotation arrives, and SHIB is the cheapest attention on the list by turnover. None of this is a guarantee. Meme coins are the most reflexive assets in crypto: they rise because they rise, and fall the same way. Size positions accordingly.
This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.
Frequently Asked Questions What is the best meme coin to buy right now? There is no single best one. By weekly performance and volume, PEPE leads in July 2026; by liquidity and room to catch up, Dogecoin; by dormant-base potential, SHIB. The right pick depends on your risk
Why is Dogecoin down while the market is up? On July 7, 2026, DOGE fell 1.53% in 24 hours while most of the top 10 rose. Thin conviction and profit-taking after a modest weekly gain are the simplest explanations visible in the data.
Is PEPE better than SHIB in 2026? This week, yes, by momentum: PEPE gained 15.67% versus SHIB's 2.92%, with a far higher volume-to-cap ratio. Over longer horizons both remain high-risk attention assets.
Which meme coin has the biggest market cap? Dogecoin, at $11.68 billion as of July 7, 2026. Shiba Inu is second at $2.56 billion, PEPE third at $1.12 billion.
Are meme coins a good investment in 2026? They are high-risk speculation, not investments in the traditional sense. Some produce extreme returns; most eventually underperform. Only allocate what you can lose entirely.
Why did MemeCore fall 10% after rising 90%? Vertical rallies in low-float tokens routinely retrace hard as early buyers take profit. A 10% daily drop after a 90% week is normal meme-coin mechanics, not necessarily news.
TLDR Trump acknowledged his cryptocurrency advocacy was motivated “a little bit for politics” after recognizing public interest Competition with China was cited as a primary driver for his cryptocurrency position The Trump family generated over $1.4 billion from cryptocurrency ventures last year, primarily via World Liberty Financial Trump claims he maintains no communication with his children regarding their cryptocurrency operations His cryptocurrency embrace aligned with the industry’s $170 million investment supporting favorable candidates in 2024 Donald Trump has revealed that his transformation into a cryptocurrency supporter was influenced by both political calculations and observing capital movement within the sector.
JUST IN: 🇺🇸 President Donald Trump when asked if Bitcoin will be put in Trump Accounts:
“I've become a big crypto guy…I’m a fan.” 👀 pic.twitter.com/wvrQHVobu4
— Bitcoin Magazine (@BitcoinMagazine) July 6, 2026
The president shared these remarks Monday during a White House media briefing announcing “Trump Accounts,” a newly introduced tax-advantaged savings program designed for minors under age 18.
When reporters questioned whether Bitcoin would be incorporated into these accounts, Trump deflected, instead offering insight into his evolving cryptocurrency perspective.
“I’ve become a big crypto guy only for one reason: If we don’t have it, China’s going to have it,” Trump declared.
He noted that throughout his initial presidential term, he witnessed substantial industry expansion and encountered numerous enthusiastic supporters.
“I got involved in it a little bit for politics,” he admitted. “I realized there are a lot of people that love crypto.”
This represents a dramatic reversal from his previous stance. While serving his first term, Trump labeled Bitcoin “a scam” and publicly stated his opposition to cryptocurrency.
Trump’s Family Has Deep Crypto Ties Trump and his sons hold co-founder positions at World Liberty Financial, a cryptocurrency venture. Financial disclosure documents published June 30 revealed Trump collected more than $1.4 billion from cryptocurrency-related activities throughout the previous year.
During Monday’s briefing, Trump attempted to distance himself from these commercial interests.
“I let my kids do whatever the hell they do. I don’t talk to them, ever, about it,” he stated.
He characterized his cryptocurrency advocacy as motivated by national competitiveness rather than financial benefit.
The disclosure documents have intensified ongoing Washington negotiations. Bipartisan congressional groups have been developing legislation establishing the first comprehensive federal cryptocurrency regulatory framework. These discussions include ethics provisions restricting how government officials and their relatives can profit from digital currencies during their terms.
Crypto Lobby Spent Big in 2024 Trump’s cryptocurrency pivot coincided with the industry’s emergence as a significant political contributor. Cryptocurrency advocacy organizations invested approximately $170 million during the 2024 election cycle, predominantly backing Republican candidates. Industry spending is projected to increase substantially for upcoming midterm contests.
Trump additionally asserted that the Biden administration abandoned cryptocurrency company investigations after his pro-crypto declaration. Under his current administration, the Securities and Exchange Commission has suspended numerous investigations and withdrawn various enforcement proceedings against cryptocurrency firms, several of which contributed to Trump’s campaign.
“Every time I see a crypto guy where they dropped an investigation, I said: You’re lucky I’m president,” Trump remarked.
Trump’s financial disclosure, made public recently, documented hundreds of millions in Bitcoin and Ethereum holdings connected to World Liberty Financial.
Hyperliquid’s suite of spot ETFs just pulled in $112 million in a single week, setting a new record for the decentralized perpetual futures platform. The bulk of that capital flowed into Grayscale’s HYPG, a staking ETF that launched on June 3, 2026, and has already accumulated roughly $128.6 million in assets under management.
The numbers behind the HYPE Three ETFs currently offer exposure to Hyperliquid’s native HYPE token: 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG. All three launched between mid-May and early June 2026, and the early data is striking.
Combined cumulative net inflows topped $150 million within just the first month of trading. By mid-June, the trio had amassed roughly $209 million in total assets, representing about 1.4% of HYPE’s market cap.
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Trading volume across the three products surged to nearly $900 million. THYP and BHYP hit peak daily inflows of approximately $25.5 million around May 20-21, contributing to weekly records that exceeded $70 million before HYPG even entered the picture.
Not a single week of net outflows has been recorded across any of the three funds in early data. HYPE experienced an eight-day inflow streak in late May that coincided with the token’s price surging past the $62 to $73 range, with the token hitting multiple all-time highs and peaking somewhere between $60 and $75.
Why institutions are paying attention Grayscale’s HYPG charges a 0.29% management fee and offers staking rewards north of 2% annually, giving investors exposure to HYPE’s price action while earning yield through a regulated wrapper.
Hyperliquid itself runs on a custom Layer-1 blockchain with sub-second transaction finality. The platform built its reputation as the dominant venue for decentralized perpetual futures trading, but it’s been expanding into stocks and commodities.
During the same period that HYPE ETFs were setting records, Bitcoin and Ethereum ETFs experienced outflows, with investors appearing to rebalance toward HYPE products for regulated exposure.
What this means for investors The $209 million in combined ETF assets representing only 1.4% of HYPE’s market cap suggests substantial room for growth if institutional adoption deepens, compared to Bitcoin ETFs where ETF holdings represent a significantly larger share of total supply.
Risks remain real. Hyperliquid’s platform concentration in derivatives trading means a single exploit or regulatory action could dent confidence quickly. The expansion into stocks and commodities adds another variable: if Hyperliquid successfully bridges traditional and crypto markets on a single infrastructure layer, the HYPE token’s value proposition grows considerably.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
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Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
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Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
12 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
12 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
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Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
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.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
12 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
12 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
12 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
12 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
12 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
12 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
12 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
12 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
12 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
12 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
12 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
12 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
12 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
12 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
12 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
Key TakeawaysModerate Projection: $180–$300 Through 2031Optimistic Outlook: $500–$800Conservative Scenario: $40–$80Distinguishing Factors for HYPE Hyperliquid currently dominates decentralized perpetual futures trading by volume Base case projections estimate HYPE between $180 and $300 by 2031 Optimistic outlook projects HYPE could climb to $500–$800 as it captures centralized exchange market share Conservative estimates place HYPE between $40 and $80 if regulatory and competitive headwinds intensify Weighted probability analysis suggests a $315 price target for 2031 In less than two years, Hyperliquid has transformed from an emerging decentralized exchange into a dominant force in on-chain derivatives trading. The platform now handles billions in daily transaction volume.
Hyperliquid (HYPE) Price The exchange operates with a functional revenue model. Trading activity generates protocol fees, and the platform continues attracting users away from traditional centralized exchanges.
Beyond perpetual futures, the ecosystem is evolving. The introduction of HyperEVM and additional financial instruments is expanding the platform’s capabilities and use cases.
Moderate Projection: $180–$300 Through 2031 The moderate forecast presumes that decentralized trading platforms will continue capturing market share from their centralized counterparts. Hyperliquid maintains its leadership position in perpetual futures while successfully expanding into spot trading, lending protocols, and tokenized financial products.
In this scenario, HYPE is projected to reach a price range of $180 to $300 by 2031. This corresponds to a fully diluted market capitalization of approximately $180 billion to $300 billion.
Even at these valuations, significant growth potential remains compared to the largest cryptocurrency networks.
Optimistic Outlook: $500–$800 The optimistic projection envisions Hyperliquid transcending competition within the decentralized space and directly capturing significant market share from major centralized exchanges like Binance, Bybit, and OKX.
Institutional market participants would increasingly execute perpetual futures contracts on-chain. Meanwhile, HyperEVM matures into a comprehensive ecosystem supporting decentralized lending, stablecoin infrastructure, and tokenized real-world assets.
Under these conditions, HYPE could reach valuations between $500 and $800, representing a fully diluted market cap ranging from $500 billion to $800 billion.
Conservative Scenario: $40–$80 Hyperliquid operates in an intensely competitive environment. Platforms including dYdX, GMX, Vertex, and Drift are all vying for the same liquidity pools and user base.
Regulatory scrutiny of perpetual futures markets represents another significant risk factor. Numerous jurisdictions continue examining this sector with heightened attention.
Additionally, scheduled token unlocks and expanding circulating supply could create sustained selling pressure, particularly if user growth and volume fail to meet expectations.
Under conservative assumptions, HYPE would trade within a $40 to $80 range through 2031.
Distinguishing Factors for HYPE Unlike numerous alternative cryptocurrencies, HYPE derives its value from measurable trading volume rather than speculative narratives alone. This positions it more similarly to exchange equity than traditional crypto tokens.
Hyperliquid already produces verifiable economic value. Should decentralized derivatives markets continue outpacing broader market growth, the platform is strategically positioned to capture disproportionate benefits.
The probability-weighted forecast derived from this analysis indicates a price target of approximately $315 by 2031.
According to official announcements, blockchain analytics platform Nansen has officially launched Hyperliquid Perpetual (Perp) trading functionality, now available to all web and mobile users. Users can execute Hyperliquid perpetual trades directly within Nansen while tracking on-chain activities of Smart Money, whale addresses, and prominent investors, with real-time access to key metrics including funding rates, long-short position ratios, and wallet-level position distributions—enabling an integrated "research-to-trade" experience. Nansen added that the platform has also launched the Hyperliquid Perps Leaderboard, which supports filtering by Smart Money, whales, and top traders, and sorting by performance over the past 7 days, 30 days, or all-time, helping users quickly identify top-performing wallet addresses. Additionally, users can deposit funds from external wallets within the app, bridge assets from connected Solana or Base wallets to Hyperliquid, and receive asset transfers directly from other Hyperliquid addresses. Beyond trading features, Nansen has expanded its data coverage of the Hyperliquid ecosystem, including on-chain activity monitoring for HyperFND and the Hyperliquid Data API. Users can track real-time active HyperEVM addresses, contract deployments, and ecosystem growth, while development teams can access real-time Smart Money perpetual positions, unrealized profit and loss (PnL), account health, full transaction history, and performance data via the API—supporting quantitative analysis, strategy development, and application building.
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UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
12 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
12 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
12 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
12 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
12 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
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.
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.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
7 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
7 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
7 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
7 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
The play is straightforward in concept. Hold Bitcoin, sell call options against it, collect premium income. The only catch is that you agree to sell if the price rockets past a certain level.
BlackRock launched its iShares Bitcoin Premium Income ETF, ticker BITA, on June 16, 2026, built entirely around a covered call strategy designed to deliver monthly income to shareholders.
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Grayscale’s Bitcoin Covered Call ETF, trading under BTCC, has been reporting a distribution rate of 47.60% as of late June 2026. Roundhill’s Bitcoin Covered Call Strategy ETF, YBTC, has been promoting distribution rates north of 30% using synthetic covered calls on spot Bitcoin.
How covered calls actually work A covered call strategy involves owning the underlying asset, in this case Bitcoin, and simultaneously selling call options at a predetermined strike price. The seller collects a premium upfront, which becomes their yield. If Bitcoin stays below the strike price when the option expires, the seller keeps both the Bitcoin and the premium. If Bitcoin blows past the strike, the seller has to hand over their coins at the agreed price, missing out on further upside.
Distribution rates in this space currently range from about 12% to over 30% annually, depending on market volatility and how aggressively the strike prices are set.
The competitive landscape is getting crowded Ribbon Finance’s Theta Vaults popularized automated covered call strategies on BTC and ETH from 2023 through 2025.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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 Earn is excited to launch BTC Yield, a BTC-denominated yield strategy designed for long-term BTC holders. BTC Yield gives a simple way to seek weekly BTC income without actively trading options. BTC Yield is powered by options strategies – specifically, a covered call approach which aims to generate option premium by selling BTC call options. Simply subscribe with BTC in exchange for BTCY, maintain BTC-denominated exposure through BTCY, and become eligible for potential weekly BTC distributions. With competitive APY, large quotas, and direct access through Binance Earn, BTC Yield offers an intuitive way to capture returns from an institutional-grade strategy. Product Highlights: Weekly Distributions: The product seeks to automatically distribute BTC to your Spot Account every week.BTC-related exposure: Your BTCY holdings are BTC-denominated, maintaining BTC-denominated exposure.Professionally Managed Strategy: Executed by Binance team using a covered call strategy that continuously harvests option premiums as yield.Flexible Redemption: Supports both Fast Redemption and Scheduled Redemption (bi-weekly settlement) to meet different liquidity needs.Open-Ended Structure: No fixed maturity date. Yield Mechanism: Users subscribe with BTC in exchange for BTCY; principal and yield are settled in BTC upon redemption. The strategy systematically sells BTC call options and distributes the collected premiums as yield to holders. Realized option premiums each week may be distributed to BTC Yield holders in two ways: BTC Distribution: A portion of yield is automatically distributed weekly to the holder's Spot Account in BTC, proportional to their BTCY holdings. Strategy Value Appreciation: A portion of yield remains in BTC-denominated Yield and is reflected in the daily-updated value, so the BTC amount represented by each BTCY value increases over time. Risk Warning: BTC Yield is not principal-protected. The value of BTCY may fluctuate with market and strategy performance, and loss of your BTC principal is possible. BTC distributions are not guaranteed. How to Get Started: AppStep 1: Tap [More] on the App homepage.Step 2: Go to [Earn] > [BTC Yield].Step 3: Tap [Subscribe] and enter the amount of BTC to commit.Step 4: Read and agree to the terms and tap [Confirm].WebsiteStep 1: Navigate to the [Earn] section, select [Advanced Earn] and click [BTC Yield].Step 2: Click [Subscribe] and enter the amount of BTC to commit.Step 3: Read and agree to the terms and click [Confirm]. Important Risk Warning: BTC Yield is a high-risk product and is not principal protected. Users are exchanging their BTC for BTCY. The value of BTCY may rise or fall as denominated in BTC, and users may receive back less BTC than they originally allocated, including in some cases a significant loss of value or loss of the full amount allocated. Any weekly BTC distribution is not guaranteed and may be zero. BTC Yield uses a covered call strategy, which may limit participation in upward BTC price movements. As a result, BTC Yield may underperform a direct holding of BTC, particularly in strongly rising markets. The product may also be affected by market volatility, options pricing, execution factors, fees, costs and Binance’s valuation methodology. Redemptions of BTC Yield are subject to processing rules, valuation timing, liquidity, operational availability and possible delays. The BTC amount returned on exit is determined by the applicable valuation at the relevant processing time, not the value displayed when the request is submitted. Fast Exit or Scheduled Exit may be unavailable, delayed or subject to limits and fees. BTC Yield is an on-platform book-entry product. It is not an on-chain token, cannot be withdrawn off-platform and cannot be transferred to another user. Participation in BTC Yield also exposes users to Binance credit risk. In the event of Binance’s insolvency, operational failure, or if BTC Yield is suspended or discontinued, users may be unable to exit promptly or recover some or all of their allocated BTC. Users should read the BTCY Product Terms, FAQ, and General Risk Warning. BTC Yield Launch Promotion: Subscribe to BTC Yield with BTC and Share a 100,000 USDC Valued Prize Pool To celebrate the launch of BTC Yield, Binance Earn is running a limited-time exclusive campaign. Eligible users who hold BTCY during the Promotion Period will share a 100,000 USDC valued prize pool, to be allocated to a Discount Buy position. To clarify, rewards are in the form of, and will be automatically distributed, as a Discount Buy position to eligible users’ Earn Accounts. Promotion Period: 2026-07-07 08:00 (UTC) to 2026-07-21 23:59 (UTC) Reward Rules: During the Promotion Period, the system will automatically snapshot eligible users’ BTCY holding balance daily at 16:00 (UTC). After the Promotion Period ends, users will receive airdrop rewards in Discount Buy positions based on their daily average BTCY holding and the rewards structure and caps below. Reward Structure: Eligible Users’ BTCY Daily Average Holding of During the Promotion PeriodShared Prize Pool Amount (Equally Shared, Subject to a Per-User Cap)Per-User Cap0.5 BTCY ≤ Daily average holding < 1 BTCY15,000 USDC50 USDC1 BTCY ≤ Daily average holding < 10 BTCY40,000 USDC300 USDC10 BTCY ≤ Daily average holding < 30 BTCY20,000 USDC1,000 USDCDaily average holding ≥ 30 BTCY25,000 USDC2,500 USDC Reward Calculation: The prize pool for each tier will be equally shared, subject to the per-user cap, among all eligible users of that tier after the campaign ends. Every eligible user within the same tier will receive the same reward amount;Per-User Reward = Tier Prize Pool / Total Number of Eligible Users in that Tier, rounded down to the nearest whole unit;Per-User Cap: The reward for each eligible user in each tier is capped at the maximum reward amount specified in the table above.If the calculated per-user share exceeds the cap, each user will receive only the cap amount, and any remaining pool will not be further distributed.The more eligible users, the smaller each user's share; the fewer eligible users, the larger each user's share (up to the per-user cap).The final list of eligible users and per-user reward amount will be subject to platform verification, including a risk review of all qualifying accounts. Example 1 (below cap): If a tier's shared prize pool amount is 40,000 USDC, the per-user cap is 300 USDC, and 200 users are qualified, each user will receive 40,000 / 200 = 200 USDC (below the per-user cap, each user will receive the full amount).Example 2 (cap triggered): If a tier's prize pool is 25,000 USDC, the per-user cap is 2,500 USDC, and only 8 users are qualified, the calculated share would be 25,000 / 8 = 3,125 USDC, which exceeds the cap. Each user will therefore receive 2,500 USDC only (cap applied). Notes: Minimum Threshold: Users must maintain a daily average BTCY holding greater than or equal to (≥) 0.5 BTCY.Flexible Holding: Subscribe or redeem at any time during the Promotion Period; rewards are calculated based on the daily average of the snapshots.Account Aggregation: Holdings of the master account and its sub-accounts will be aggregated for calculation and are subject to a single reward cap; sub-accounts are not eligible for a separate allocation. Reward Distribution: Rewards will be automatically distributed as a Discount Buy position to eligible users’ Earn Accounts within 14 days (2026-08-04) after the Promotion Period ends.Disclaimer: Discount Buy is a high risk product and your position may go up or down resulting in you not getting back the amount invested. You may be required to trade at a less favourable rate on the Settlement Date. More Information: BTC Yield Product PageFrequently Asked Questions on BTC YieldBTC Yield Product Terms Terms and Conditions: These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“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.Only users who complete identity verification and confirm their participation during the Promotion 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.Holdings of the master account and its sub-accounts shall be aggregated and subject to a single reward cap. Sub-accounts shall not be entitled to a separate allocation.The BTC Yield Terms apply.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 2026-07-07 Trade on-the-go with Binance’s crypto trading app (iOS/Android) Find us on TelegramWhatsAppXFacebookInstagramDiscord 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 can be highly volatile. The value attributable to your BTCY strategy position may go down or up, and you may not receive back the amount of BTC you allocated. By participating in BTC Yield, you are converting your subscribed BTC to BTCY. BTC Yield is not capital protected, and you may lose some or all of your BTC. Any BTC Credits, APY, realised APY, illustrative yield, or similar figures shown in connection with BTCY are for information purposes only, are not guaranteed, may be zero, and refer to BTC-denominated amounts only rather than actual or predicted returns in fiat or any other digital asset such as BTC. BTC Yield uses a strategy that may underperform holding BTC directly, including in periods of strong BTC price appreciation. When you exit BTC Yield, the amount of BTC returned to you will depend on the applicable valuation at the relevant processing time, and this may be higher or lower than the valuation shown when you submitted your request. Fast Exit may be unavailable, and Standard Exit may be subject to processing windows, capacity limits, delays and fees. Binance does not provide financial, legal, tax or investment advice, and you are solely responsible for your investment decisions. For more information, please see the BTCY Terms, Terms of Use and Risk Warning.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
7 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
7 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
7 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
7 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
7 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
7 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
7 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
7 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
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.
[PRESS RELEASE – Zug, Switzerland, July 7th, 2026]
Premium virtual assets pioneer BTCS (Middle East) Ltd. is now fully authorized by the Financial Services Regulatory Authority (FSRA) of ADGM, enabling regulated institutional services across the UAE.
Building on its position as Switzerland’s leading crypto financial services provider, Bitcoin Suisse is further accelerating its international expansion. Bitcoin Suisse Group’s subsidiary, BTCS (Middle East) Ltd. (“BTCS ME”) has received Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, marking another significant step toward the Group’s international growth strategy becoming a leading global wealth management partner.
The FSP marks the completion of a thorough, multi-stage licensing process and enables BTCS ME to deliver a comprehensive suite of regulated digital asset financial services to institutional and professional clients in the United Arab Emirates. Bitcoin Suisse brings more than a decade of experience across multiple digital asset market cycles to the UAE. The Group currently safeguards USD 3.7 billion in crypto assets and ranks as the fourth-largest staking operator globally.
With the FSP, clients benefit from the same foundations that have made Bitcoin Suisse a trusted partner to investors, institutions, and blockchain innovators for more than a decade. Across multiple market cycles, Bitcoin Suisse has built a reputation for resilience, combining a robust, proprietary infrastructure with a service philosophy centered on long-term client relationships.
Institutional and professional clients can access a regulated digital asset financial infrastructure designed for sophisticated needs, including managing and hedging digital asset exposure, in a fully compliant environment, institutional-grade custody, and trading approved virtual assets. All supported by a dedicated relationship manager, ensuring access not only to institutional-grade technology and regulatory clarity, but also to personal attention, continuity, and deep expertise. As the market evolves, BTCS ME is also positioned to support clients in accessing tokenized real-world assets in the future.
By combining regulatory strength, operational depth, and a highly personalized approach to client service, BTCS ME is designed to support clients through the next phase of institutional adoption.
Ceyda Majcen, Chief Executive Officer and SEO of BTCS ME, leads Bitcoin Suisse Group’s expansion in the Middle East and brings extensive, long-standing senior leadership experience across the Group.
Receiving the FSP from the FSRA is a major milestone in our international growth strategy. The authorization reflects more than a decade of experience building resilient infrastructure, risk frameworks, and trusted client relationships. We are excited to bring our unique combination of institutional-grade capabilities and highly personalized service to the UAE, one of the world’s most dynamic hubs for digital assets.”
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said “We congratulate Bitcoin Suisse on receiving its FSP from the FSRA. Its expansion into ADGM reinforces the strength and maturity of our digital assets’ ecosystem, which continues to attract leading global institutions seeking regulatory clarity, market access and long-term growth opportunities. As Abu Dhabi further strengthens its position as a leading financial hub in the region, ADGM remains committed to enabling innovation within a robust, internationally recognized regulatory environment.”
About Bitcoin Suisse
Bitcoin Suisse is a leading premium digital assets financial services provider. Founded in 2013 by digital asset experts, it provides a cohesive suite of trading, custody, staking and lending services for institutional clients, digital asset foundations, family offices, asset managers and high-net-worth individuals. Bitcoin Suisse is headquartered in Zug with over 200 employees in Switzerland, Liechtenstein, the United Arab Emirates, and Bermuda. www.bitcoinsuisse.com
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
7 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
7 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
7 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
7 minutes ago
Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.
Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.
UBS Group has assigned a "Buy" rating to SpaceX, with a target price of $210.
UBS Group initiates research coverage on SpaceX (SPCX.O), assigns a Buy rating, and sets a target price of $210.
7 minutes ago
Coinbase Secures UK MiFID License, Enabling It to Offer Investment Services in the UK
According to official announcements, Coinbase today announced it has received authorization from UK regulators to offer investment services in the UK. In simple terms, this means Coinbase is no longer limited to crypto-related services, and can now provide traditional financial investment products to UK users. This authorization is not merely a regulatory milestone, but will bring more investment options to UK users. Going forward, institutional investors and professional traders will be able to trade derivatives including cryptocurrencies, stocks, and commodity perpetual futures; retail users will also be able to trade stocks on the Coinbase platform for the first time. Coinbase noted this is just the first step in its product expansion, with more investment services planned for launch in the future.
7 minutes ago
Morningstar: Samsung Electronics' revenue expectations may disappoint investors.
Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.
7 minutes ago
Citi assigns SpaceX a "Buy" rating, with a target price of $200.
Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.
7 minutes ago
He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.
Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."
7 minutes ago
US stock storage sector is generally down in pre-market trading, with Western Digital falling more than 6%.
According to BIT (bit.com) market data, the US stock market's storage sector is seeing broad pre-market declines, with Seagate Technology (STX) down 4.96%, Western Digital (WDC) down 6.14%, SanDisk (SNDK) down 5.43%, and Micron Technology (MU) down 5.46%.
Blockchain trade association the Digital Chamber filed an amicus brief in the New York lost property case seeking ownership of thousands of dormant Bitcoin addresses.
The Monday filing is the second amicus brief in the case. It opposes the claims of ownership, arguing that treating dormant wallets as abandoned property would create a “pervasive cloud on title across self-custody wallets.”
Digital Chamber argues that a ruling based on the plaintiffs’ theory would undermine the “foundational principles of digital property ownership, with negative ripple effects reaching the traditional finance industry.”
The amicus brief was filed in a lawsuit brought by "Noah Doe" and two Wyoming-based companies in late May, seeking ownership of 39,069 dormant Bitcoin addresses, in what could become a test of how inactive crypto may be treated under the state’s lost-property law.
The listed addresses hold an estimated 3.7 million Bitcoin (BTC) worth about $234 billion and include some of the wallet addresses associated with Bitcoin creator Satoshi Nakamoto, according to Sani, founder of analytics platform Timechain Index.
The Digital Chamber files an amicus brief to dismiss the case seeking ownership of 39,069 Bitcoin wallets. Source: iapps.court.state.ny.us
The Digital Chamber describes itself as the oldest and largest digital asset trade association representing over 250 members, including crypto exchanges, banks, investment firms and other industry participants.
Dormant Bitcoin wallets awaken after lawsuitSome of the long-dormant Bitcoin wallets named in the lawsuit have been waking up.
At least 31 of the listed addresses moved 17,527 Bitcoin in June, up from five addresses that transferred 4,834 BTC in February, according to Galaxy Digital head of research Alex Thorn.
Source: Alex Thorn
Bitcoin address "1KV47" transferred 30 BTC, worth about $1.88 million, on Saturday, marking the wallet’s first movement in almost 15 years, since August 2011.
Regardless of the lawsuit's outcome, it is unclear how the plaintiffs could gain control of the assets without holding the private keys to the wallets.
On Thursday, a pseudonymous defendant filed a notice of appearance and motion to dismiss, claiming they control one of the dormant wallets named in the lawsuit.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Vocal cryptocurrency critic and gold advocate Peter Schiff has labelled digital asset treasury Strategy company's evolving business model a "mid-cycle Ponzi."
Schiff has slammed the company's move to sell parts of its Bitcoin reserves in order to fund dividend payments and service corporate debt.
A 'completely different business model'During the initial phases of the company's Bitcoin accumulation, Michael Saylor's firm issued convertible debt and sold stock to purchase the digital asset. Now, Schiff notes, the flow of capital has reversed.
HOT Stories
"Strategy now has a completely different business model," Schiff stated. "Instead of selling common and preferred stock and issuing debt to buy Bitcoin, the new strategy is to sell Bitcoin to pay interest and dividends, pay off debt, buy back shares it sold, and hope that Bitcoin’s price goes way up."
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He pointed out that Strategy spent roughly $17 billion purchasing Bitcoin since October 2025. Yet, the asset's price still experienced severe drawdowns. "If Bitcoin was that weak with Strategy buying $17B, imagine how much weaker it will be with Strategy selling $3.25B, plus more to maintain its minimum U.S. dollar reserve," he warned.
The dividend spiralAccording to Schiff, the current yield on $STRC has spiked to roughly 15% due to price depreciation. "That means to get the price back up to $100, Strategy must raise the dividend rate," Schiff explained.
Schiff believes this creates a negative feedback loop: declining preferred stock prices force higher dividend payouts, which in turn require heavier Bitcoin liquidations. This ultimately puts even more pressure on the asset's price.
Looming downside risks Schiff predicted that Bitcoin's technical support levels are in jeopardy due to fresh selling pressure.
The analyst believes that the $58,000 support level might now hold. "Once it gives way, Bitcoin could collapse below $50,000, testing the August 2024 low," he projected.
Blockchain trade association the Digital Chamber filed an amicus brief in the New York lost property case seeking ownership of thousands of dormant Bitcoin addresses.
The Monday filing is the second amicus brief in the case. It opposes the claims of ownership, arguing that treating dormant wallets as abandoned property would create a “pervasive cloud on title across self-custody wallets.”
Digital Chamber argues that a ruling based on the plaintiffs’ theory would undermine the “foundational principles of digital property ownership, with negative ripple effects reaching the traditional finance industry.”
The amicus brief was filed in a lawsuit brought by "Noah Doe" and two Wyoming-based companies in late May, seeking ownership of 39,069 dormant Bitcoin addresses, in what could become a test of how inactive crypto may be treated under the state’s lost-property law.
The listed addresses hold an estimated 3.7 million Bitcoin (BTC) worth about $234 billion and include some of the wallet addresses associated with Bitcoin creator Satoshi Nakamoto, according to Sani, founder of analytics platform Timechain Index.
The Digital Chamber files an amicus brief to dismiss the case seeking ownership of 39,069 Bitcoin wallets. Source: iapps.court.state.ny.us
The Digital Chamber describes itself as the oldest and largest digital asset trade association representing over 250 members, including crypto exchanges, banks, investment firms and other industry participants.
Dormant Bitcoin wallets awaken after lawsuitSome of the long-dormant Bitcoin wallets named in the lawsuit have been waking up.
At least 31 of the listed addresses moved 17,527 Bitcoin in June, up from five addresses that transferred 4,834 BTC in February, according to Galaxy Digital head of research Alex Thorn.
Source: Alex Thorn
Bitcoin address "1KV47" transferred 30 BTC, worth about $1.88 million, on Saturday, marking the wallet’s first movement in almost 15 years, since August 2011.
Regardless of the lawsuit's outcome, it is unclear how the plaintiffs could gain control of the assets without holding the private keys to the wallets.
On Thursday, a pseudonymous defendant filed a notice of appearance and motion to dismiss, claiming they control one of the dormant wallets named in the lawsuit.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The Trump administration’s ambition to establish a Strategic Bitcoin Reserve is running into the hard reality of Washington’s legal machinery. The U.S. Treasury, which was supposed to manage the reserve, now faces internal doubts about whether it even has the statutory authority to hold and manage the government’s Bitcoin, according to the original report citing Bloomberg. That legal gap has thrown the project into a bureaucratic review, with officials exploring alternative structures—including shifting custody and oversight to the Commerce Department. The Justice Department’s Office of Legal Counsel is now working with both agencies to find a legally viable path forward.
The uncertainty over the Treasury’s authority reflects a broader problem: the U.S. government still lacks a clear, codified framework for holding digital assets as sovereign reserves. While the Department of Justice routinely seizes Bitcoin via criminal forfeiture and the U.S. Marshals Service auctions it off, the notion of the Treasury actively managing a long-term Bitcoin portfolio crosses into uncharted fiscal territory. That distinction matters. For a reserve to function as anything more than a holding account, the managing agency would need explicit authority to custody, transact, and potentially rebalance the asset—powers that current statutes do not explicitly grant.
The Authority Question The Treasury’s hesitation is not just bureaucratic foot-dragging. The department operates under tightly defined mandates, and introducing a volatile, non-sovereign asset into the government’s balance sheet raises novel legal questions about fiduciary duty, accounting treatment, and liability. The Office of Legal Counsel’s involvement signals that the administration is treating this as a serious structural question, not a political talking point. Moving the reserve to the Commerce Department could sidestep some of those restrictions, but it would also shift the asset away from the financial arm of the government, potentially weakening its perceived stability.
For market participants, the legal tangle is a reality check. The idea of a U.S. Bitcoin reserve has been a component of the bullish institutional narrative for months, helping to anchor the view that sovereign demand would eventually provide a floor for Bitcoin’s price. The revelation that the plan lacks immediate legal grounding could temper that narrative, at least in the short term. It also highlights a disconnect: while Washington debates whether the Treasury can hold Bitcoin, private and public companies, ETFs, and foreign governments continue to build positions. El Salvador’s daily purchases and MicroStrategy’s treasury strategy have become routine, yet the world’s largest economy cannot figure out which department is allowed to hold the keys.
Market Implications of a Delayed Reserve The bureaucratic friction arrives at a sensitive moment for crypto legislation more broadly. A landmark crypto bill is facing intense last-minute resistance from banking lobbyists, illustrating how entrenched financial interests can stall even bipartisan efforts. If a bill with broad industry support struggles to clear the Senate, the path for a strategic Bitcoin reserve—which carries far more political and legal weight—looks even steeper. The delay also raises uncomfortable questions for the administration’s broader digital asset strategy. Without a legal foundation, the reserve concept risks becoming a reputational liability, a headline-grabbing announcement that cannot be implemented without congressional action or a novel legal interpretation that could be challenged in court.
The contrast with the private sector’s embrace of tokenized assets is stark. As the government wrestles with custody authority, traditional finance has quietly moved forward. On-chain real-world assets have crossed $20 billion, with major institutions like JPMorgan and Bullish executing live settlements and large-scale acquisitions. The infrastructure for institutional-grade digital asset management exists; the government just isn’t plugged into it.
What Comes Next for the Idea The next few weeks will clarify whether the administration can force a resolution through executive action or whether the idea requires quiet legislative work behind the scenes. The Office of Legal Counsel’s opinion will be pivotal. A narrow reading of Treasury authority could kill the reserve outright, while a broader interpretation could open the door but invite lawsuits. If the Commerce Department emerges as the designated manager, the structure would be unconventional but possibly faster to implement. The longer the review drags on, the more the market will discount the reserve as a near-term catalyst, treating it instead as a multi-year regulatory puzzle.
What remains uncertain is how the government will handle the Bitcoin it already controls. The U.S. Marshals Service has historically sold seized Bitcoin in batches, a practice that periodically unsettles spot markets. A shift toward a holding strategy—even without a formal reserve designation—would mark a significant change in supply dynamics. For now, the only certainty is that the legal machinery grinds slowly, and Bitcoin’s path to becoming a U.S. sovereign asset is far from assured.
AUTHOR
Farhan Karim is a technology writer and content strategist with 15+ years of experience writing thousands of articles, blogs, whitepapers, and ebooks on Blockchain, Cryptocurrency, and other tech niches. His expertise in content strategy, SEO, and a keen eye on the ever-evolving tech space have led him to work with companies like Pepsi, Huawei, Arab News, and now Blockchain Reporter.
From its all-time high of $126,198 in October 2025, Bitcoin has fallen over 51% to its current price of slightly above $62,000.
Recent releases from three on-chain datasets that came out in quick succession paint a picture that goes beyond a simple price chart: this correction seems to be structurally distinct from the ones that came before it.
The Efficiency Problem Is Real, And It's Not Going Away
On July 1, Ki Young Ju, CEO of CryptoQuant, offered a comprehensive examination of capital efficiency over Bitcoin's cycles.
This research offers a different viewpoint on the idea that "Bitcoin still has 10x left" regarding its potential for growth.
The astounding return of 55,436% was the product of $2.7 billion in net inflows in 2011. A return of around 2,000% was achieved on an investment of $365 billion between 2018 and 2021.
A meager 689% gain has been produced by $697 billion in realised-cap growth in the current cycle.
An injection of about $5 million in fresh cash was necessary in 2011 to accomplish a doubling of the price. Currently, $101 billion is the anticipated sum needed.
It's time to reevaluate Bitcoin's essence, and that's not merely a minor point.
Institutional investors are now needed to make a dent in a market where millions used to be enough to make a dent.
Ju's analysis emphasizes how dire the situation is: Bitcoin needs to gain more than $1 trillion in fresh market capitalization to experience another parabolic leap.
This calls for seeing it as an essential macro allocation instead of just an ETF transaction aimed at ordinary investors.
The market value of gold is over $27 trillion.
About $1.3 trillion is the market capitalization of Bitcoin.
While the gap suggests a bright future, the difficulties in streamlining processes are to blame for the slower pace of development and higher capital needs compared to the plans for 2017 or 2021.
Even if the monetary quantities involved are historically unprecedented, the technical conclusion is that future rallies will look less steep in percentage terms when compared to the last one.
Some important mathematical discoveries were recently brought to light by CryptoQuant, which makes it difficult for anybody to predict if Bitcoin will maintain its 2017 percentage increases.
The Float Is Drying Up - And That Cuts Both Ways
There is a change on the supply side that is arguably more closely related to the present price fluctuations than the efficiency narrative.
A record high of 79% of the supply was held by long-term investors, according to a study published June 15 by K33 Research.
Furthermore, as of June 6, just 218,421 BTC that had been dormant for more than two years were activated, which is the lowest amount seen since the same date in 2012, when just 70,600 BTC had migrated.
During what K33 calls a distribution phase in June 2024, 1.18 million BTC were released from cold storage.
Contrarily, according to on-chain tracker Alphractal, the percentage of long-term holders has risen to 78% from 74% in the last cycle.
Also, in the past few months, some 830,000 BTC have been moved out of temporary wallets.
K33's Vetle Lunde argues that record holder concentration, low reactivation, and dropping trading volume are not signs of fresh selling forces but rather a tendency that usually emerges in the later stages of Bitcoin downturn markets.
Logic dictates that there will be fewer coins available for trade when over 80% of them are dormant.
So, because the order book isn't as strong, prices are more affected by any spike in demand, be it from institutions, individual investors, or ETFs.
The way one sees liquidity dynamics is rather bullish, but it doesn't show whether demand will come through or not.
Investments from ETFs, stablecoin growth, and institutional interest have not yet reached levels that would suggest a long-term recovery, and this is the key point that businesses like Bitfinex, Wintermute, and Glassnode have been stressing.
Although supply-side tightening is critical, it is not sufficient to ensure a market bottom on its own.
CoinDesk data from late June showed that long-term investors were holding almost 5.58 million BTC at a loss, which was the second-highest total ever recorded, second only to March 2020.
Despite this group's total percentage of supply continuing to expand, this occurs. In the same tales, one will find both confidence and hardship.
The P&L Signal: Fourth Time This Metric Has Flashed Since 2022
Among the data points published by CryptoQuant on July 3, the most recent and important aspect stands out.
The realized profit-and-loss ratio of Bitcoin has dropped to -0.35, the lowest level in 43 months.
This slump is reminiscent of December 2022, just after the FTX collapse, when BTC was worth less than $16,000.
Significant market rallies followed readings below -0.35 in 2015 and 2019, according to CryptoQuant's historical data.
This indicator shows how much of the total supply is now making money as opposed to losing money, as calculated on a realized basis.
Capitulation has already taken place, not that it is imminent; according to readings, this is negative.
Crucial is the context.
With a low of around $57,950 achieved on July 1, BTC hit its lowest price in 652 days. In the duration after, it saw a 7% bounce and is now trading between $61,000 and $63,000.
Adam Livingston of Swan Bitcoin points out that the current price of Bitcoin is just 16% higher than its realized value.
Returns of 41% for six months and 81% for twelve months have been achieved in the past thanks to this spread.
Matt Hougan, CIO of Bitwise, brought up the unwinding of Strategy's Stretch (STRC) preferred shares in a recent thread.
There were worries regarding the long-term viability of dividends connected to Michael Saylor's treasury concept when this stock dropped below its $100 par value to about $75 in June.
Instead of portending imminent stress, Hougan posited that this occurrence could have contributed to the system's elimination of unnecessary risk.
The market is currently assessing a clearly defined barrier.
Despite four separate tests this year, $60,000 support has remained strong, and centralized exchange inflows have remained around 50,000 BTC per day, suggesting a tendency of exhaustion rather than aggressive selling, whenever selling pressure has escalated.
If one looks at the daily and weekly charts, one could see a potential "W" reversal forming.
This would coincide with the lower Bollinger Band and show tiny fractal patterns inside the bigger framework, according to experienced technician John Bollinger.
If the price falls below $60,000, it will expose the realized-price region around $53,000, which proponents of the capitulation bottom argument must defend if it is to remain valid.
The Macro Overlay
All of these deals take place within a larger macro framework.
BlackRock's IBIT has led the way in redemptions, with spot Bitcoin ETFs marking their worst month since their launch in June, seeing net outflows of over $4.5 billion.
K33 reports that sales have slowed but have not yet translated into cash inflows.
The markets are still adjusting to the idea of a Federal Open Market Committee headed by Kevin Warsh, and the change in leadership at the Federal Reserve creates substantial uncertainty.
Interest rate policy has always been a major short-term driver for Bitcoin.
There has been a little reduction in the probability of rate rises following a June employment report that was disappointing, adding just 57,000 jobs instead of the expected 100,000+.
With the launch of meinKrypto by DZ Bank for Bitcoin trading and custody under MiCA and the preparations underway for a similar rollout by DekaBank across about 340 German savings banks, institutional plumbing is slowly but surely evolving at the periphery.
But this is more of a demand driver than a flow catalyst.
A future upward rise, should it materialize, will require far more institutional finance than earlier cycles to accomplish comparable percentage increases, according to the synthesis: declining capital efficiency.
The amount of accessible float to absorb that capital is more constrained than ever before due to record-long-term holder concentration.
The market has probably taken a lot of surrender into consideration, as the P&L reading is at a 43-month low.
When taken independently, each data point provides unique insights.
Taken as a whole, they show how the market is structured to facilitate bottom-forming, but a key component, institutional demand on a broad scale, is still up in the air.
Michael Saylor and Strategy faced criticism after announcing the latest BTC sales, as Bitcoin price tumbled to $61K lows before bouncing back. Grayscale argues Strategy’s recent BTC sales are positive for Bitcoin’s long-term price stability and broader markets, rather than bearish.
Grayscale Research Supports Strategy’s Latest BTC Sales $216 million BTC sales by Michael Saylor’s Strategy, a leading Bitcoin digital asset treasury (DAT), may reduce financing risk, Grayscale Research noted.
The crypto firm claimed it would restore market confidence over Strategy’s financing structure as there is nothing wrong with its balance sheet. The largest Bitcoin treasury now holds 843,775 BTC worth nearly $53 billion and has almost $7 billion in debt.
Notably, annual dividend obligations on its preferred equities are less than $2 billion. “Strategy clearly has sufficient financial resources to service its debt and dividend obligations,” said Grayscale Head of Research Zach Pandl.
In addition, Grayscale claimed these BTC sales will support Bitcoin price stability. “In our view, it may help Bitcoin’s price find a more durable bottom,” Pandl added.
STRC Stock Closes Higher Despite Bitcoin Sales Grayscale revealed that the recent $216 million BTC sale by Strategy boosted US dollar reserves to cover almost 17 months of dividend payments. The company now has $2.55 billion in cash reserves.
The Bitcoin treasury announced a framework and monetization program to confirm it would issue shares and sell Bitcoin as needed to maintain sufficient US Dollar reserve cover for its dividend obligations.
Moreover, STRC stock closed 0.81% higher at $88.58 on Monday, suggesting investors are responding positively to the decision. The stock is up 0.51% at $89 in premarket trading on Tuesday. Meanwhile, Binance launched STRC stock trading, allowing traders to gain exposure without needing traditional brokerage accounts.
STRC Stock Rises amid USD Reserve Buildup. Source: Grayscale Meanwhile, MSTR stock is trading 0.80% lower at $99.97 in premarket today. The stock is still up almost 18% in a week as analysts remain bullish on the MSTR stock price. Cantor Fitzgerald has maintained a buy rating on MSTR stock, with a 12-month price target of $212.
Bitcoin price is trading above $63K, with a 24-hour low and high of $61,275 and $64,597, respectively. The positive momentum comes amid first inflows into BlackRock Bitcoin ETF after weeks and seasonality. Furthermore, trading volume has increased by 77% over the last 24 hours.
Navigate the fluctuations of the crypto market by following the trades of experienced traders with our recommendations for Best Crypto Copy Trading Platforms.
Cayman Islands Trademark Secures Legal FoundationRipple-backed Evernorth has taken another step toward building a publicly traded $XRP treasury, registering its trademark in the Cayman Islands as its Digital Asset Treasury (DAT) initiative advances.
The Evernorth trademark has been publicly recorded in the Cayman Islands, with the filing handled by HSM IP Ltd., a Cayman-based intellectual property firm that frequently manages trademark registrations for companies operating in the jurisdiction. Public records show the word mark was registered under filing number T0004840, with an expiry date of April 1, 2036.
According to the Cayman Islands Gazette, the Evernorth word mark (No. T0004840) has been registered under Classes 36 and 42, covering a wide range of digital asset-related financial and technology services. Under Class 36, the trademark protects services related to digital asset portfolio creation and management, financial advisory and consulting for digital assets, digital asset treasury management, financial custody solutions, and investment strategy information for publicly traded investment funds.
The XRP Digital Asset Treasury is currently pursuing a business combination with Armada Acquisition Corp. II, a Cayman-domiciled SPAC. Establishing the trademark in the Cayman Islands complements this structure, as the jurisdiction is widely used by global investment vehicles due to its tax neutrality, asset protection framework, and efficient intellectual property and global licensing regime.
473 Million XRP and an Active Treasury StrategyEvernorth Holdings and Pathfinder Digital Assets held about 473.1 million XRP as of the end of last year. Ripple contributed 126.8 million XRP to Pathfinder under a contribution agreement, while the sponsor separately contributed 211.3 million XRP through a Series C subscription tied to the broader deal.
Rather than operating as a passive investment vehicle, Evernorth plans to actively grow its XRP reserves. Its strategy includes institutional lending, liquidity provisioning, and participation in decentralized finance (DeFi) yield opportunities to generate additional returns on its holdings.
If the deal closes, the combined company will list under the ticker XRPN and operate as a publicly traded XRP treasury. The company said it has raised over $1 billion in gross proceeds to create the largest public XRP treasury company on Nasdaq. Investors in the transaction include Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital.
Sources:
The Crypto Basic: Ripple-Backed Evernorth Registers Trademark in Cayman Islands
CoinDesk: Evernorth Unveils 473 Million XRP Treasury and DeFi Strategy
SEC Filing: Evernorth Holdings Inc. Form 425
XRP is holding above key support near $1.11 after a sharp drop, but repeated failures to clear the $1.14–$1.15 zone show its rebound lacks confirmed momentum.Spot XRP ETFs logged a ninth straight week of net inflows despite regulatory uncertainty, underscoring steady institutional interest even as the CLARITY Act faces delays.Traders are watching $1.1110 on the downside and $1.14–$1.15 on the upside, with a clean break above $1.15 opening room toward $1.17–$1.20 and a drop below $1.1110 refocusing attention on $1.08.XRP is still trying to turn last week’s rebound into a cleaner breakout, but the move is struggling for follow-through. Buyers stepped in after a sharp drop toward $1.11 and drove the token back toward resistance, yet XRP failed to hold above the levels needed to confirm momentum. That leaves traders watching whether $1.13-$1.14 becomes support, or another ceiling.
News Background• XRP spot ETFs recorded a ninth consecutive week of net inflows, adding $17.19 million despite broader regulatory uncertainty.
• The CLARITY Act faced delays after a scheduled Senate vote was canceled before the congressional recess, removing a near-term catalyst for digital assets.
• Analysts continue to watch XRP’s long-term descending trendline, with the $1.14-$1.18 zone seen as the next area bulls need to clear.
• Several technical analysts pointed to improving structures, including bullish divergence from the $1.02 lows and a potential Elliott Wave advance, but those setups still require confirmation above resistance.
Price Action Summary• XRP traded near $1.1238 during the 24-hour session, holding above the $1.11 area after a volatile swing lower.
• The token underperformed CD5 by 143 basis points, showing the move was not strongly asset-specific.
• Volume ran 16.19% above the seven-day average, enough to show participation but not enough to confirm a clean breakout.
• The sharpest activity came near the session low around $1.1110, when volume reached 106.5 million XRP, about 129% above the 24-hour average.
• Buyers later pushed XRP toward $1.1507, but the move failed to hold near the upper end of the range.
Technical Analysis• The key development is that XRP defended the $1.11 area, but failed to turn the rebound into a sustained move above $1.13-$1.14.
• The earlier breakout above $1.08 remains intact, but the next leg higher needs stronger volume through resistance.
• The rejection near $1.1507 shows sellers are still active around the same zone that capped recent recovery attempts.
• The hourly structure weakened after XRP failed near $1.1308 and slipped back toward $1.1249, leaving a lower-high pattern intraday.
• XRP remains in a consolidation phase between support near $1.11 and resistance near $1.14-$1.15.
What traders should watch• $1.1110 is the key downside level after buyers defended it during the session.
• $1.1249-$1.1270 is the immediate support zone after the latest intraday pullback.
• $1.1308-$1.1325 is the first resistance area bulls need to reclaim.
• $1.14-$1.15 remains the bigger test after repeated failures near that zone.
• A clean move above $1.15 would shift attention toward $1.17-$1.20, while a break below $1.1110 would weaken the recent recovery and put $1.08 back in focus.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
