Track market-moving stories before they get noisy

New York Life Investment Management has partnered with Centrifuge to launch its first tokenized fund, bringing a U.S. high-yield corporate bond strategy onchain.

Summary

NYLIM launched its first tokenized offering through Centrifuge, starting with a high-yield bond strategy. The HYB product gives eligible investors onchain access to NYLIM’s fixed-income investment process. Subscriptions and redemptions will settle in USDC while NYLIM keeps portfolio management unchanged. New York Life Investment Management, known as NYLIM, partnered with Centrifuge to launch the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio. The product will trade under the ticker HYB and marks NYLIM’s first tokenized offering.

NYLIM has about $807 billion in assets under management, according to the announcement. The asset manager said the launch gives eligible investors access to its high-yield corporate bond strategy through digital infrastructure.

High-yield bond strategy moves onchain The HYB product brings NYLIM’s U.S. High Yield Corporate Bond Strategy to Centrifuge’s platform. The companies said the underlying portfolio, investment process and risk management approach will remain with NYLIM and will not change because of the tokenized structure.

The fund will use Centrifuge’s institutional fund infrastructure. Subscriptions and redemptions will settle in USDC, according to the Centrifuge announcement. The offering is aimed at eligible investors, rather than broad retail access.

New York Life Investment Management (@NYLIManagement), one of the largest active asset managers globally with ~$807B in AUM, has partnered with Centrifuge to bring its fixed income capabilities onchain.

The collaboration begins with $HYB, one of the first high yield bond… pic.twitter.com/oA5qyOpvUj

— Centrifuge (@centrifuge) June 30, 2026 NYLIM sees demand for tokenized access “Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed across both public and private markets,” Thomas Sy, Head of Multi-Asset Solutions at NYLIM, said.

“As investor demand continues to grow around transparency, efficiency and broader market participation, we are exploring opportunities where blockchain-enabled infrastructure can complement our existing platform and deepen the value we deliver to clients,” Sy said.

The launch places NYLIM among large asset managers testing tokenized versions of traditional investment products. The product also expands tokenized credit beyond U.S. Treasuries and money market funds, which have formed a large share of real-world asset activity.

Centrifuge expands RWA fund infrastructure “We’re proud to work with NYLIM and we’re starting with a fund that fills a gap for onchain investors that existing infrastructure cannot address,” Anil Sood, CSO and co-founder of Centrifuge Labs, said.

“But this is bigger than a single product: It is about moving funds onto infrastructure that is more transparent, more efficient, and more composable,” Sood said. He added that NYLIM is a partner for Centrifuge as it works to bring more established funds onchain.

Meanwhile, Centrifuge launched decentralized RWA tokens on Aerodrome in 2025, making tokenized assets tradable and usable as collateral across EVM platforms. That launch included deJAAA, a tokenized version of the Janus Henderson Anemoy AAA CLO Fund.

As reported earlier by crypto.news, Ethena also selected Centrifuge as a tokenization partner in June, alongside a deal with Janus Henderson. The recent NYLIM launch adds another fixed-income strategy to Centrifuge’s growing list of institutional tokenization projects.

Previously, crypto.news reported that tokenized real-world assets had crossed $29 billion by April 2026, while tokenized U.S. Treasuries had reached $13.4 billion. The HYB launch shows how tokenization is moving into corporate credit products as asset managers test blockchain-based distribution and settlement.

Key Takeaways Shares of Circle plummeted over 16% following the announcement of Open USD, a stablecoin initiative supported by Stripe, Coinbase, Visa, Mastercard, and BlackRock Open USD differentiates itself by planning to distribute reserve interest earnings among consortium partners instead of retaining profits William Blair analysts described the market reaction as excessive and maintained their Outperform stance on Circle The Paxos Global Dollar, another consortium-based stablecoin, has achieved just $3 billion in circulation compared to USDC’s $73 billion market cap Critical operational details about Open USD—including blockchain deployment and revenue distribution—have yet to be disclosed Shares of Circle experienced a sharp decline exceeding 16% on Tuesday following the public debut of Open Standard, a newly formed consortium introducing the Open USD stablecoin initiative.

Circle Internet Group, CRCL

The coalition boasts more than 140 corporate participants, featuring industry heavyweights such as Stripe, Coinbase, Visa, Mastercard, and BlackRock.

The fundamental value proposition of Open USD is clear-cut. Rather than the stablecoin provider retaining interest income generated from reserve assets, Open Standard intends to share this revenue stream with member organizations.

This model presents a direct challenge to how Circle generates revenue. The company’s profitability relies heavily on capturing interest earned from the assets supporting USDC.

Circle CEO Jeremy Allaire addressed the development via social media, characterizing USDC as “the most trusted, widely adopted, institutional-ready stablecoin in the world.” He emphasized the company’s commitment to continued innovation while acknowledging the competitive landscape.

Tether CEO Paolo Ardoino also joined the conversation, stating: “Welcome OUSD. Player 2 has entered the game.”

Market Analysts View Stock Decline as Excessive Not all market observers interpret the competitive threat as severely as Tuesday’s price action might indicate.

William Blair analysts maintained their Outperform rating on Circle stock and suggested investors view the session’s decline as an attractive entry point.

They characterized competitive worries as “overblown,” highlighting USDC’s approximately $74 billion market capitalization and Circle’s established payment infrastructure network.

The research team also drew parallels to previous payment consortiums such as MCX and Paze, which struggled to achieve meaningful adoption against incumbent platforms.

Owen Lau, managing director at Clear Street, echoed this sentiment. “I think it is an overreaction,” he shared with CoinDesk.

Rob Hadick from venture capital firm Dragonfly acknowledged that the partner roster represents a legitimate competitive concern but cautioned that consortium structures face inherent challenges. “Incentives are broad and often misaligned,” he noted.

Critical Information Still Missing Market analysts also highlighted that Open Standard’s announcement omitted essential operational details.

The consortium failed to specify which blockchain networks will host Open USD, how interest revenue will be allocated among partners, or what governance framework will guide the organization.

Columbia Business School professor Omid Malekan described it as the “logo spray and pray” phase. “Putting your name on a list is easy,” he observed. “Actually changing corporate behavior is hard.”

As a reference point, Paxos introduced its consortium-supported stablecoin in late 2024. It has achieved $3 billion in circulation—significantly trailing USDC’s $73 billion and Tether’s $145 billion.

The announcement also drew attention to Circle’s current partnership agreement with Coinbase, which reportedly faces renewal discussions in August.

Open USD is scheduled to launch in late 2026. Until that time arrives, its actual influence on USDC’s market position remains speculative.

Source: Binance EN

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Europe’s ambitious new regulatory framework for crypto assets, the Markets in Crypto Assets (MiCA) regulation, took effect on July 1, marking a new era for digital finance across the European Union. The implementation has already brought dramatic changes, as regulated crypto exchanges quickly began delisting Tether’s USDT stablecoin from their platforms. Amid this shakeup, Circle has emerged as a standout player, swiftly filling the gap with its own compliant stablecoin offerings.

Circle adapts, Tether retreatsAnticipating MiCA’s requirements, Circle proactively aligned its dollar-pegged USDC and euro-backed EURC stablecoins to meet the regulation’s new standards. Among the world’s ten largest stablecoins, Circle became the only issuer able to fully comply with MiCA’s conditions. Headquartered in the United States, Circle remains a heavyweight in the stablecoin market, with USDC ranking among the largest by market value.

In stark contrast, Tether chose not to apply for the electronic money issuance license mandated under MiCA. The consequence: roughly $185 billion worth of USDT is now inaccessible on licensed European trading venues, forcing a radical overhaul of liquidity structures across the region’s regulated crypto platforms.

Tether’s management has voiced strong objections to MiCA’s requirement that 60% of stablecoin reserves be held in European banks, highlighting what they see as additional risks. As a result, Tether is shifting its strategic focus away from Europe to markets outside the EU.

Tether CEO Paolo Ardoino publicly defended the company’s decision, warning that altering their reserve model to match European standards would introduce new risks. Rather than overhauling its structure, Tether has opted to double down on its established approach in non-European markets, stepping back from the bloc for now.

Institutional backing gives Circle momentumCircle’s position received a major boost in timing and legitimacy. On the very eve of MiCA’s rollout, banking giant BNY Mellon announced support for USDC. This move enables institutional clients to store, transfer, issue, and burn USDC through BNY Mellon’s network—an endorsement carrying significant weight from one of the world’s largest custodians.

Glossary: CASP refers to the “Crypto Asset Service Provider” license under MiCA. This license authorizes regulated custody, trading, and transfer services for crypto assets throughout the EU.

BNY Mellon’s timely move, coinciding with changes on European exchanges, has bolstered Circle’s position on both the regulatory and institutional fronts. This shift is not only about stablecoin rivalry but also about which issuers will shape the European market in the long term.

MiCA reshapes more than just stablecoinsThe MiCA regulation has brought sweeping consequences beyond just USDT and USDC. Out of nearly 1,200 crypto companies previously registered at the national level, only about 210 have managed to secure full-scope CASP authorization under the new law—a success rate of approximately 17%.

CategoryStatusNumber of firms registered before MiCAApproximately 1,200Companies awarded full CASP licenseApproximately 210Percentage17%With USDT liquidity now unavailable at regulated European platforms, Circle’s long-standing regulatory strategy positions it to capture market share rapidly.

This landscape demonstrates that the ripple effects go beyond regulatory compliance. While Circle invested years in preparation, Tether has essentially ceded the European field for now. Although Tether may yet seek EU licensing in the future, there is no clear indication of such plans at present.

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

Circle’s stock took a beating on June 30, dropping more than 16% after a consortium of over 140 companies, including Visa, Stripe, Coinbase, Mastercard, and BlackRock, unveiled a new stablecoin called Open USD (OUSD). Circle CEO Jeremy Allaire responded by making the case that OUSD will struggle to compete with USDC’s entrenched network effects, deep liquidity, and regulatory infrastructure.

A who’s-who of global finance and payments backing a stablecoin designed to redistribute most of its reserve earnings to partners. But whether OUSD can actually dent USDC’s roughly $73-74B market cap is a question with a complicated answer.

What Allaire is actually saying Allaire’s defense was pointed and specific. He called USDC “the most trusted, widely adopted, institutional-ready stablecoin in the world.”

Regulatory reach is where Allaire might have his strongest card. Circle went through the grueling process of going public on the NYSE. It holds state money transmitter licenses and has built relationships with regulators across multiple jurisdictions. OUSD’s licensing and operational structure remain unclear, with key details still pending ahead of its planned launch later in 2026.

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The consortium playbook has been tried before Consortium-backed stablecoins aren’t new territory. Paxos launched USDG with a similar value proposition, and it hovered around $3B in supply. Respectable, but not exactly a USDC killer.

There’s also the Meta-backed Diem (formerly Libra) precedent, which had even more firepower behind it and still collapsed under regulatory pressure and internal coordination problems.

OUSD’s key differentiator is its revenue-sharing model. Rather than Circle’s approach, where the issuer keeps most of the reserve yield, OUSD plans to redistribute that income to partner firms. Key details on ownership and revenue distribution remain unclear.

What this means for investors The 16% drop in Circle’s stock price reflects genuine concern, but several analysts have suggested the market overreacted. The logic is straightforward: USDC has first-mover advantages that took years to build, and OUSD won’t launch until later in 2026 at the earliest.

Even if every one of those 140 consortium members integrates OUSD, many of them, Coinbase included, already support USDC. A company like Visa can support both stablecoins simultaneously, which means OUSD’s growth doesn’t automatically come at USDC’s expense.

The real risk for Circle is economic, not existential. If OUSD gains traction with its revenue-sharing model, it could force Circle to give up a larger share of its reserve income to retain distribution partners. That compresses margins without necessarily shrinking USDC’s market cap. For a company that just went public and needs to demonstrate profitability to public market investors, margin pressure is no small thing.

For investors watching Circle specifically, the key metrics to track over the coming months are USDC’s market cap trajectory relative to overall stablecoin supply, any changes to Circle’s revenue-sharing arrangements with existing partners like Coinbase, and concrete details on OUSD’s launch timeline and licensing status.

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

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes, downloadable on Apple Pod or Spotify.

GM!

Today’s top news:

Crypto majors are slightly red, Solana leads; BTC at $58.5k 140 businesses team up for Open USD launch, taking aim at Circle and Tether CRCL stock falls 17% in wake of Open USD launch Trump disclosure shows $1.2B in crypto profits; $50M+ in BTC holdings Citi cuts its 12-month BTC price target from $112k to $82k, cites ETF flows, slow regulatory progress and DAT concerns 💵 Open USD Launches With 140+ Backers, Taking Aim at Circle and Tether

Open Standard, a new company led by Zach Abrams, launched Open USD as a stablecoin for global money movement going live later this year.

It’s got serious backing from the heaviest hitters in payments, finance and commerce. More than 140 businesses signed on, including Visa, Mastercard, Stripe, BlackRock, BNY, Google, Shopify, and DoorDash, alongside much of crypto itself like Coinbase, Solana, Ripple, OKX, and Aave.

And its launch is a direct shot at Circle and Tether. Open USD gives all the power back to the businesses by

letting businesses mint and redeem for free with no volume caps handing all the earnings on its reserves back to partners minus a small management fee being governed by a board of those partners rather than a single company. That attacks the incumbents’ most profitable feature, since the real money in stablecoins is the yield on the Treasurys backing them, and Circle and Tether keep nearly all of it. Stripe’s president said Open USD will become the default stablecoin for businesses on its platform.

The market reacted strongly, with CRCL stock losing 18% on the day. And it’s pretty obvious why. A huge part of the stablecoin growth story that Circle benefited from was based on business and institutional growth. Now those users will be heavily incentivized to use OUSD over USDC. The bull case for Circle is the “rising tide” thesis, but that’s looking a bit shaky—at least right now. Expect OUSD to be a real stablecoin player as soon as it’s up and running…

🇺🇸 Trump Discloses Over $1.2 Billion in Crypto Earnings

President Trump’s annual financial disclosure, released Tuesday by the Office of Government Ethics, revealed more than $1.2 billion in earnings from his crypto ventures in 2025. The report runs over 900 pages, and crypto sits among the largest line items in it.

The bulk of the $1.2B in earnings came from two sources. Trump earned just over $635 million from his memecoin alone, almost entirely as royalties tied to a licensing agreement with Celebration Coins. The TRUMP token launched on Solana days before he retook office in January 2025, rocketed to $75 and a $75B dollar market cap within 3 days before selling off. Now it trades around $1.66 at a $394 million market cap, down roughly 98% from its all-time high.

The other major piece was more than $588 million in net proceeds from token sales distributed by World Liberty Financial, the family’s DeFi and stablecoin venture. He also reported holding over $50 million in Bitcoin and between $5 million and $25 million in Ethereum, among other digital assets.

The disclosure re-raises the conflict-of-interest questions shadowing the administration. The president is actively shaping US crypto policy while his family profits directly from the industry those rules govern. It feeds straight into the CLARITY Act fight, where Democrats are pushing to bar the president and his family from crypto businesses as a condition for passing the bill. This new headline certainly will make the Dems dig their heels in the ground, and odds of the bill passing dropped 10% on the day to 39%.

Unfortunately, we likely haven’t felt all the effects of those $1.2B in crypto earnings yet. Expect more pain to come…

🌎 Macro Crypto and Markets Crypto majors are slightly red; BTC -1% at $58.5k; ETH -1% at $1,570; SOL +2% at $75; HYPE -5% at $62.60 JUP (+16%), WBT (+14%) and  XLM (+12%) led top movers Oil -1% at $69; Gold even at $4,040 Stock futures are slightly red after the strongest H1 in 5 years; DOW -0.2%, Nasdaq -0.4% Binance and CZ were sued for nearly $200 million by British investors in a new UK lawsuit, per Reuters, tied to claims involving the FCA Citi cut its 12-month price targets for Bitcoin from $112k to $82k and ETH from $3,175 to $2,240, citing outflows, slow regulatory progress and DAT concerns TD Cowen cut Strategy’s price target by 35%, citing the company’s new framework that opens the door to selling Bitcoin The SEC opened a 60-day comment period on novel ETFs, asking 27 questions about how it should handle funds built around crypto assets, event contracts, and other nontraditional holdings, after pausing roughly two dozen prediction-market ETF filings New York Life Investment Management teamed with Centrifuge for a tokenized bond fund, bringing one of America’s largest asset managers further into onchain real-world assets CRCL was removed from several Russell Growth Indexes in the annual reconstitution process in June Corporate Treasuries & ETFs

The Bitcoin ETFs saw $222M in net outflows on Tuesday; the ETH ETFs saw $28M in outflows SharpLink made its first ETH purchase of 2026, with the Ethereum treasury firm resuming accumulation after a pause Meme Coin Tracker

Meme leaders were mixd; DOGE even, SHIB even, PEPE -3%, PENGU +2%, TRUMP +3%, BONK even dog (+85%), Nest (+100%) and Testibull (+175%) led movers on Solana Base movers included Check (+21%) and REI (+27%) 📈 Myriad Market of the Day💰 Token, Airdrop & Protocol Tracker Phantom doubled down on perpetual futures, hiring market builders from Hyperliquid as the Solana wallet pushes deeper into onchain derivatives MetaMask launched a “money account” that combines stablecoin yield and spending in one wallet, blurring the line between a crypto wallet and a bank account 🚚 What is happening in NFTs? NFT leaders were mostly flat; Punks -1% at 31 ETH, BAYC +1% at 8.82 ETH, Pudgy -1% at 4.45 ETH; Hypurr’s -3% at 217 HYPE Racerz (+47%) and MetaWinners (+20%) led top movers The strong week for Punk sales continued with multiple above-floor buys in the past day, including a 100 ETH Cowboy sale Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Circle CEO Jeremy Allaire argued that USDC's decade-long network of integrations, liquidity and regulatory infrastructure gives it a structural advantage over new stablecoin entrants, while challenging key elements of Open USD's proposed business model.

In a Wednesday X post, Allaire described stablecoin networks as platform businesses driven by network effects, saying sustained investment in integrations, liquidity, regulatory approvals, banking relationships and reserve management creates competitive advantages that are difficult to replicate.

He also questioned whether permanently offering free, unlimited minting and redemption would remain sustainable at scale and said returning nearly all reserve income to partners risks “starving an infrastructure.”

The comments highlight intensifying competition among stablecoin issuers as new entrants seek to challenge USDC and USDT by offering businesses a greater share of reserve income and influence over governance. 

Open Standard announced Open USD (OUSD) on Tuesday, with support from over 140 payments, banking, technology and crypto companies, including Visa, Mastercard, Stripe, Coinbase, BlackRock and Google. The stablecoin is expected to go live later in 2026. 

Circle’s stock performance in the last five days. Source: Yahoo Finance

Circle shares closed Tuesday at $62.63, down 17.55% from the previous session, before rising 2.44% to $64.18 in premarket trading as of 11 am UTC on Wednesday, according to Yahoo Finance data. 

OUSD could challenge the Circle-Tether duopoly: Bernstein In a research note, analysts at Bernstein said OUSD could become the “strongest and first new entrant to challenge the duopoly of Circle and Tether,” citing its reach across payments, banking, technology and commerce.

However, Bernstein said governance, operational architecture and the revenue-sharing formula remain open questions, as coordinating more than 140 partners will require substantial work. Bernstein said Circle spends close to $500 million on marketing, infrastructure, technology and compliance, highlighting the amount of resources needed to scale a stablecoin network.

Lorenzo Valente, director of research at ARK Invest, took a more skeptical view. In a post on X, Valente said that OUSD still faces the cold-start problem created by USDC and USDT's entrenched liquidity across the crypto ecosystem. He called the announcement a “giant” letter of intent and said that many participants also support competing stablecoins or operate their own infrastructure. 

“The partners are backing rivals: Stripe owns Bridge and has its own stack, Coinbase is wedded to USDC, banks are building their own deposit tokens and the card networks support every token out there,” Valente wrote. 

Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

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.

Zcash price has remained pinned below the $400 level after last month’s Orchard security scare, persistent overhead supply, and cautious derivatives positioning offset signs of improving buying pressure.

Summary

Zcash price remains below $400 as sellers continue defending key resistance after June’s security-driven selloff. Technical charts show $410 as the breakout level, with $440 and $490 emerging as the next upside targets. Liquidation data and macro uncertainty keep downside risks alive unless buyers reclaim the descending trendline. According to data from crypto.news, Zcash (ZEC) traded around $396 at the time of writing, little changed over the past week despite a relief bounce across several large-cap altcoins.

The privacy coin continues to recover from its violent early June collapse, when a critical flaw in the Orchard zero-knowledge proof circuit briefly raised double-spending concerns before developers deployed an emergency network upgrade. Although no funds were stolen, the event triggered a wave of liquidation and institutional selling that continues to weigh on price.

The fallout extended beyond the technical fix. Arthur Hayes exited his ZEC position during the panic, while the earlier 50% crash from roughly $624 to $309 left a large concentration of trapped holders at higher prices. That supply continues to emerge whenever ZEC approaches the $400-$420 region, limiting follow-through buying despite the stabilization seen during the past several sessions.

Descending trendline keeps Zcash trapped below key Fibonacci resistance The daily chart shows ZEC trading just beneath the 61.8% Fibonacci retracement level near $419, a zone that rejected multiple recovery attempts following the June breakdown. Price also remains below a descending trendline that has defined the lower-high structure since the post-crash rebound peaked near $530 in mid-June.

Zcash daily price chart — July 1 | Source: crypto.news Momentum indicators remain mixed. The daily RSI sits near 41, leaving room for another recovery attempt without entering overbought territory, while the MACD remains below its signal line despite the bearish histogram steadily shrinking. Together, the indicators suggest selling pressure has eased but buyers have yet to regain control of the longer-term trend.

The 4-hour chart presents a slightly more constructive picture. ZEC has begun testing the descending resistance line that has capped every rally over the past two weeks, while the Chaikin Money Flow has climbed back above zero, suggesting fresh capital has started entering the market. Even so, the Aroon indicator continues to favor the prevailing downtrend, showing that bullish momentum has not yet replaced the existing market structure.

Zcash 4-hour price chart — July 1 | Source: crypto.news According to analyst Team LAMBO, a decisive move through the immediate ceiling could change the short-term outlook. “ZEC can breakout above 410 to target 440 and 490 again,” the analyst wrote in a recent market update, identifying $410 as the trigger level that could expose the next resistance areas near $440 and $490.

Derivatives positioning also shows why the current range remains difficult to escape. CoinGlass liquidation heatmaps reveal dense clusters of leveraged short positions concentrated around $405-$410 and again near $418-$420. A sustained break through those zones could force short liquidations and accelerate upside momentum. On the downside, another significant concentration of long liquidations sits between roughly $392 and $385, creating an area where volatility could increase if sellers regain control.

Zcash liquidation heatmap | Source: CoinGlass Macro risks continue to challenge the recovery thesis Several external risks continue to limit appetite for privacy-focused cryptocurrencies despite improving technical conditions. Crypto market sentiment remains fragile after weeks of elevated volatility, while investors continue to monitor U.S. inflation data, interest-rate expectations, and geopolitical tensions that have reduced demand for higher-risk digital assets.

Regulatory uncertainty also remains a headwind unique to the privacy coin sector. European compliance initiatives and tighter scrutiny of anonymous digital assets continue to discourage institutional participation, reducing the amount of fresh capital available to absorb the overhead supply left behind by June’s selloff.

The bullish setup would weaken if ZEC fails to hold support around $390, with a break below that level exposing the stronger demand zone near $380 and potentially the 78.6% Fibonacci retracement around $345.

A confirmed close above $410, however, would invalidate the current lower-high sequence and increase the probability of a move toward the $440 resistance area, with $490 becoming the next upside objective if buying momentum accelerates.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Jul 1, 2026, 10:20 a.m.

2 min read

(CoinDesk)Summary

Lending protocol Aave saw its strongest day of new-wallet creation on Ethereum since 2021 on June 30, adding 1,806 wallets even as the broader crypto market weakened.The AAVE token is up about 9% over the past week, and the protocol now holds roughly $12.2 billion in total value locked, helped by anticipation around a version upgrade and revenue-focused changes.Standard Chartered’s $3,500 price target for AAVE by 2030 and the recent wallet surge have revived interest in DeFi, though analysts warn that new addresses must translate into real usage to sustain the rally.Aave, one of the largest decentralized lending protocols by locked value, recorded its strongest day of new-wallet creation in almost five years on June 30, a sign of fresh interest in the AAVE token even as the wider crypto market weakens.

The protocol added 1,806 new wallets on the Ethereum blockcain in 24 hours, its highest single-day total since October 2021, according to analytics firm Santiment.

Network growth measures how many new addresses hold or use a token, and an increase points to new participants arriving rather than existing holders simply trading among themselves.

AAVE has moved with that interest. It traded around $86.2 on Tuesday, down about 2.4% over 24 hours, in line with a broad market pullback. Still, it's gained roughly 9% over the past week, CoinDesk data show, one of the few major cryptocurrencies in the green over that stretch.

The protocol holds about $12.2 billion in deposits, or total value locked, the sum users have supplied to earn yield or borrow against.

Several threads are feeding the attention. Aave is rolling out the Ethereum version of its V4 upgrade, a rebuild of how the protocol handles lending, and has seen active governance debate over borrowing limits alongside a growing focus on protocol revenue through a mechanism it calls Smart Value Recapture, which routes value back to the system.

Standard Chartered also published a long-term price outlook in June, forecasting a $3,500 level by 2030 if it capitalizes on the growing tokenized assets trend. The mix has drawn renewed notice to DeFi at a moment when most of the market has been falling.

"For price, this is the kind of signal traders usually want to see as July begins," Santiment said. "New wallets showing up at this pace suggests interest is growing beneath the surface and supporting the price momentum."

Whether that holds is the open question, as new wallets show attention, not commitment, and the number matters only if it converts into deposits, borrowing and the revenue that follows.

Meanwhile, AAVE faces headwinds in the near term amid a tepid crypto market. Bitcoin BTC$58,779.77, the largest cryptocurrency, is stuck below $60,000 and most large tokens fell in the first half.

If the participation deepens into real usage, it gives AAVE a firmer base than a price bounce alone. If it fades with the market, the wallet spike will read as a burst of speculative interest rather than the start of a recovery.

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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.

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

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

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TLDR Aave recorded its highest daily network growth in nearly five years as new wallet creation surged on June 30. The protocol added 1,806 new Ethereum wallets in 24 hours, signaling fresh participation in DeFi. Aave traded near $86 despite a broader market pullback and still posted a weekly gain of about 9%. The protocol holds around $12.2 billion in total value locked, maintaining its position among leading DeFi platforms. Rising network growth suggests increasing user interest, but its impact depends on whether activity converts into sustained usage. Aave recorded its strongest daily network growth in nearly five years as new wallets surged on June 30. The DeFi lending protocol added 1,806 Ethereum wallets within 24 hours, signaling renewed participation. This increase comes as the broader crypto market weakens, yet Aave shows relative strength.

Aave network growth hits multi-year high Aave reported a sharp rise in new wallets, reaching levels last seen in October 2021. The spike reflects fresh user entry into DeFi rather than activity from existing holders. Santiment stated that rising network growth often indicates expanding market interest.

✍️ TL;DR: AAVE (On Ethereum) ends June with its highest network growth day since 2021
📊 Metrics used: Network Growth
🔗 Link to chart: https://t.co/PYPTArPYdg

📈 Aave (on Ethereum) has just seen 1,806 new wallets created in 24 hours, marking its strongest network growth day… pic.twitter.com/FbwYRgFdg0

— Santiment Intelligence (@SantimentData) July 1, 2026

Moreover, Aave registered steady engagement as users explored lending and borrowing features on the protocol. The DeFi platform continues to attract attention due to ongoing upgrades and governance discussions. As a result, the increase highlights early signs of renewed participation across the network.

Meanwhile, Aave maintained consistent on-chain activity, which supports the recent wallet growth trend. The DeFi sector benefits when protocols attract new users during weak market phases. Therefore, this data suggests that Aave continues to gain traction despite broader uncertainty.

Aave price action aligns with growing activity Aave traded near $86.2, reflecting a 2.4% decline over the past 24 hours. However, the token still posted a weekly gain of around 9%, outperforming many assets. This movement shows that DeFi tokens can resist wider market pressure under strong network signals.

In addition, Aave holds about $12.2 billion in total value locked across its lending pools. This figure reflects user deposits and borrowing demand within the DeFi ecosystem. Consequently, the protocol maintains its position among the largest platforms by locked value.

Santiment noted that such wallet growth often supports price stability during uncertain conditions. The firm stated, “New wallets at this pace suggest growing interest beneath the surface.” Therefore, Aave price action aligns with underlying participation trends in DeFi.

Aave fundamentals and market outlook remain mixed Aave continues development of its V4 upgrade, which aims to improve lending efficiency and system design. The update also introduces Smart Value Recapture to enhance protocol revenue streams. These changes strengthen Aave’s long-term position within the DeFi market.

At the same time, governance discussions focus on borrowing limits and risk management across the platform. These debates reflect efforts to balance growth with system stability in DeFi operations. As a result, Aave maintains active community involvement in key decisions.

However, the broader market still weighs on Aave performance as Bitcoin remains below $60,000. Market weakness could limit sustained growth if new users do not convert into active participants. Therefore, Aave must translate network growth into real DeFi usage to maintain momentum.

Christopher Alexander Delgado, president and CEO of Florida-based Goliath Ventures, has admitted guilt in a wide-ranging cryptocurrency fraud investigation. The U.S. Attorney’s Office for the Middle District of Florida announced that 34-year-old Delgado has pleaded guilty to charges including wire fraud, conspiracy to commit fraud, and money laundering.

The scope of the investigation widensAccording to prosecutors, Delgado and his associates operated Goliath Ventures—formerly known as Gen Z Venture Firm—between January 2023 and January 2026 as a scheme in which new investor funds were used to pay earlier investors. Authorities allege that investors were promised false monthly returns from cryptocurrency liquidity pools, when in fact these promises had no basis in reality.

U.S. Attorney Gregory W. Kehoe stated that Delgado misled investors to persuade them to deposit funds and then used the proceeds to finance a lavish lifestyle.

The indictment claims that the money raised was not meaningfully invested; instead, a portion of new deposits was redirected to prior participants, while the remainder funded luxury spending, extravagant events, vacations, and personal consumption.

Glossary: A liquidity pool in decentralized finance refers to a pool of assets contributed by users to facilitate trading, which can be tracked transparently on-chain under normal circumstances with verifiable usage data.

Seized assets span homes, cars and jewelryCourt documents show that Delgado used victim funds to purchase at least six residential properties, valued from $1.15 million up to $8.5 million. These spending sprees also included luxury automobiles, numerous designer watches, handbags, and bespoke jewelry.

ItemDescriptionInvestor paymentsAt least $400 millionAdmitted lossAt least $250 millionPropertiesAt least 6 units, priced $1.15–$8.5 millionDelgado has agreed to forfeit eight real estate properties, 11 vehicles, 30 luxury watches, more than 50 designer handbags and wallets, and at least 29 pieces of jewelry to authorities. Confiscated bank and cryptocurrency accounts are also included in the forfeiture.

During the civil forfeiture process, it was determined that investors had transferred at least $400 million to Goliath. Delgado acknowledged causing losses of no less than $250 million.

The case extends to JPMorgan ChaseThe investigation extends beyond the criminal trial. In March, a victim filed a federal lawsuit against JPMorgan Chase, accusing the bank of failing to halt Goliath Ventures’ account activities and neglecting customer due diligence protocols. JPMorgan Chase is recognized as the largest bank in the United States.

Investigators found that only a small fraction of investor funds—approximately $1.5 million—actually reached the decentralized exchange Uniswap. Uniswap is a major protocol that permits users to trade tokens without intermediaries.

Delgado’s sentencing is scheduled for October 8. He faces up to 20 years in prison for each count of wire fraud and up to 10 years for the money laundering charge. The case was jointly investigated by IRS Criminal Investigation and Homeland Security Investigations.

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

You can now trade synthetic exposure to Revolut shares on a decentralized exchange.

PancakeSwap has listed $CREV, a BEP-20 token on BNB Chain that offers tokenized economic exposure to pre-IPO equity in the British fintech giant. The token, issued by Swiss-based Colb Finance, launched on May 28 with a net asset value of $2,139 per token and a total asset value of roughly $88 million across 41,185 tokens in circulation.

What $CREV actually is (and isn’t) $CREV does not give holders direct ownership of Revolut shares. Instead, it’s structured as a Swiss-regulated certificate that provides economic exposure to the underlying equity. You get the price upside (or downside) tied to Revolut’s valuation, but you’re not technically a shareholder with voting rights or a seat at the cap table.

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The minimum subscription is $25,000 in stablecoins, with a 2.5% subscription fee. There are no management or performance fees attached. It’s aimed at professional and qualified investors who want private market exposure without the traditional gatekeeping of venture capital or secondary share platforms.

Each token is backed 1:1 by the economic rights of the equity it represents, according to Colb Finance’s structure.

The bigger picture: private equity goes on-chain $CREV isn’t Colb Finance’s first rodeo on PancakeSwap. The firm previously launched $CSPX, a similar tokenized certificate offering pre-IPO exposure to SpaceX shares.

What this means for investors A $25,000 minimum and a 2.5% entry fee means this is not the kind of token most retail traders will stumble into. The qualified investor requirement adds another filter.

There are real risks to consider. The 1:1 backing claim relies entirely on Colb Finance’s custody and legal structure. If the issuer faces regulatory challenges, or if the underlying equity position is impaired, token holders bear that risk. There’s also the question of what happens to $CREV if Revolut actually does IPO. The conversion mechanism, whether tokens are redeemed for cash at IPO price or continue trading, is a detail that qualified investors should examine closely before committing capital.

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

Binance Closes In on 90 Billion LUNC BurnedBinance burned over 600 million $LUNC tokens on July 1, according to data from LUNC Metrics. The latest burn brings the exchange's cumulative total to 87.37 billion Terra Classic tokens permanently removed from circulation, putting the 90 billion milestone firmly within reach.

The burn forms part of Binance's long-running monthly program, which allocates 50% of LUNC trading fees collected on the platform to be permanently removed from circulation. Binance has burned LUNC every single month since late 2022, using trading fees collected from LUNC spot and margin pairs, converting them into LUNC and permanently sending them to the burn address.

The program has made Binance the dominant force in Terra Classic's deflationary effort. Binance remains the largest single contributor to this effort, having permanently removed over 84.94 billion LUNC tokens through its ongoing burn program as of early May 2026, a figure that has continued to climb with each subsequent monthly burn.

Supply Pressure Builds, But Price Under PressureThe July 1 burn arrives amid mixed market conditions for Terra Classic. LUNC trading volume is up 5% over the past 24 hours according to CoinMarketCap data, though the token has shed nearly 30% of its value over the past month.

LUNC's burn mechanism, combining a 0.5% on-chain transaction tax with exchange-led burns, remains the cornerstone of the community's deflationary strategy. Despite the steady pace of supply reduction, the token's structural challenges remain significant. With 5.52 trillion LUNC still in circulation out of 6.46 trillion total, the daily burn rate is marginal against the float.

With a total supply still at 6.46 trillion, the current burn rate is mathematically insufficient for fundamental revaluation alone, and price gains from burns are vulnerable to reversal if staked supply is unlocked or if broader market sentiment sours. Still, the community views consistent exchange-led burns as a key pillar of the project's long-term recovery thesis, with sentiment remaining largely positive around the burns as a steady contribution toward rebuilding confidence in LUNC, though meaningful price appreciation will likely depend on a combination of sustained burns, successful network upgrades, increased utility, and broader market conditions.

Sources

LUNC Metrics: Binance LUNC Burn Tracker
CoinReporter: Binance Burns 2.19 Billion LUNC in June 2026
Crypto Times: Terra Luna Classic Surges 150% in a Month Amid Binance Burn

US-listed Bitcoin (BTC) exchange-traded funds (ETFs) recorded $4.5 billion in net outflows during June 2026. This was the worst monthly figure since the products launched in January 2024.

The redemptions coincided with a sharp price decline. Bitcoin fell 20.48% over the month, its steepest monthly drop since June 2022, when the asset shed 37.28% during that cycle’s collapse.

IBIT Leads the Institutional RetreatJune’s outflows broke the previous monthly record of $3.56 billion, set in February 2025 during an earlier stretch of market stress.

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Bitcoin ETF Monthly Flows. Source: SoSoValueBlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the outflows. The fund alone shed $3.55 billion, close to 79% of the category’s total redemptions.

That concentration is striking. IBIT’s single-fund outflow nearly matched the entire category’s prior monthly record on its own.

The price data reinforces the pressure. Bitcoin closed four of 2026’s first six months in negative territory, with June’s 20.48% decline the deepest of the year.

How Crypto ETFs Performed in June 2026The weakness extended beyond Bitcoin, though the scale varied across categories. Ethereum (ETH) ETFs posted $528.99 million in June outflows, SoSoValue data showed.

Solana (SOL) ETFs recorded net outflows of roughly $786,580. The figure is small, but it marks the first monthly outflow for Solana ETFs since their launch, ending a run of positive months.

Top Crypto ETFs Performance in June. Source: BeInCryptoNot every category turned negative. XRP (XRP) ETFs drew $59.46 million in net inflows during June, holding positive despite the broader downturn.

Hyperliquid (HYPE) ETFs led the group with $161.05 million in inflows, the strongest June showing across the products.

The split suggests capital rotated within crypto rather than exiting entirely. Newer altcoin products absorbed fresh money even as the two largest categories saw sustained redemptions.

Whether that rotation hardens will depend on how Bitcoin trades in July, since a price rebound could pull capital back toward the incumbents.

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At some point, a streak stops being a streak and starts being a structural reality. Solana dApps generated $257 million in revenue during Q2 2026, topping every Layer 1 and Layer 2 blockchain on the market. That is nine consecutive quarters of leading the pack, which means Solana has held this title since roughly the beginning of 2024.

To put the consistency in perspective: Ethereum, Tron, Base, and Hyperliquid have all had their moments in the spotlight. None of them has managed to dislodge Solana from the top position for over two years.

What is driving the numbers Solana’s revenue engine runs on three main cylinders: memecoins, decentralized finance, and consumer-facing applications.

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For context, Q2 2025 saw Solana dApp revenue come in above $271 million, which means the Q2 2026 figure of $257 million represents a slight year-over-year dip but still comfortably leads all competitors. Monthly snapshots from January 2026 showed the network crossing the $100 million mark in dApp revenue within a single month, suggesting the quarterly totals are the product of sustained activity rather than one or two blowout weeks.

Earlier in 2026, Solana was reported to have captured roughly 41% of total Web3 dApp revenue across the ecosystem. That is not a plurality. That is a near-majority of an industry-wide metric, held by a single network.

Why the competition has not caught up Ethereum’s Layer 2 ecosystem, which includes Base and others, has grown substantially over the past two years. But L2 revenue is fragmented across multiple chains, and aggregating it still does not consistently match what Solana generates as a single, unified network. Tron remains dominant in stablecoin transfers, a different metric entirely. Hyperliquid has carved out a strong niche in on-chain perpetuals trading, but niche dominance is not the same as broad dApp revenue leadership.

What this means for investors and the broader market Revenue figures for blockchain dApps matter for a specific reason: they are one of the cleaner signals of genuine economic activity on a network, as opposed to metrics like total value locked, which can be inflated by recursive deposits, or daily active addresses, which can be gamed.

When a network generates $257 million in dApp revenue in a single quarter, that money came from users paying for something they wanted. It is demand-driven, not incentive-driven.

For SOL as an asset, sustained dApp revenue leadership creates a plausible fundamental narrative. Network usage drives fee revenue. Fee revenue, particularly after Solana’s move toward priority fee structures, flows in part to validators and stakers.

The more immediate risk worth watching is whether the memecoin trading activity that has contributed meaningfully to Solana’s volume figures proves durable. If that category cools significantly, the quarterly revenue figures will feel it. What investors should track going into Q3 2026 is whether Solana can sustain the $200 million-plus quarterly threshold without a memecoin supercycle propping up the numbers.

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

Solana’s memecoin factory is back in business. After months of steadily declining activity, the Pump.fun platform just recorded its highest daily token launch and graduation numbers in 80 days, driven almost entirely by the explosive arrival of a single token: $ANSEM.

The token, officially called “The Black Bull,” is a community-driven memecoin inspired by popular crypto influencer Ansem (@blknoiz06). It launched on Pump.fun in late June and proceeded to defy all reasonable expectations. The price surged approximately 19,878% over the course of seven days, hitting an all-time high near $0.121 on June 29.

From ghost town to gold rush Over the three months prior, activity on the platform had cratered by roughly 80%. Daily graduations to decentralized exchanges were averaging a paltry 0.26%.

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Within 24 hours of peak trading activity, volume on the token exceeded $80 million. The fully diluted valuation briefly crossed $120 million. The deployer wallet reportedly spent around $6,300 to launch the token. Ansem’s own wallet peaked at over $71 million in value.

The catalyst for much of this frenzy was Ansem’s announcement that he would airdrop accumulated creator fees on a weekly basis.

The airdrop blitz Between June 27 and June 29, Ansem distributed approximately $7 million worth of $ANSEM tokens across hundreds of wallets. The stated goal was to grow the holder base from roughly 25,000 to nearly 1 million.

Competitive variants and the dilution problem As with every successful memecoin, $ANSEM’s rise has spawned a swarm of imitators. Multiple ANSEM-named variants have appeared on the platform, each trying to draft off the original’s momentum. The risk is straightforward: investor attention and capital get fragmented across competing tokens, making it harder for any single one to sustain momentum.

After peaking near $0.121, $ANSEM experienced a price correction.

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

Table of contents

Last Updated: July 1, 2026

Bitcoin briefly slipped to $57,800.19 on July 1, 2026, its lowest level in weeks, before recovering to trade at $58,904.32 as the new month opens with the same pressure that defined June’s final days. The Fear & Greed Index has fallen to 11, a fresh cycle low that erases the marginal recovery seen at the end of June, when the gauge briefly ticked up to 15. Sentiment has now spent more than a week locked in Extreme Fear, and today’s intraday breakdown below $58,000 confirms the correction hasn’t found a durable floor yet. The defining story remains the same divergence that shaped June’s final days: Solana continues to outperform, up 8.43% on the week, while Bitcoin, Ethereum, XRP, BNB, and TRON all remain in negative territory.

Key Takeaways Bitcoin fell to an intraday low of $57,800.19 before recovering to $58,904.32, down 0.11% on the 12:00 hourly candle Fear & Greed Index falls to 11 (Extreme Fear), down from 15 yesterday and 17 last week — the lowest reading of the current cycle Solana is the standout performer: +8.43% weekly, the only top-10 asset with strong positive momentum Ethereum down 5.28% weekly to $1,579.45, holding up slightly better than Bitcoin on a relative basis XRP, BNB, and TRON all posted weekly losses between 4.3% and 4.9%, tracking the broader market decline Crypto Market Snapshot — July 1, 2026 AssetPrice24h7dMarket CapVolume (24h)Bitcoin (BTC)$58,904.32-0.11%-5.98%$1.18T$33.74BEthereum (ETH)$1,579.45-0.30%-5.28%$190.61B$9.83BTether (USDT)$0.9987+0.03%+0.01%$184.43B$68.02BBNB$546.18-0.60%-5.24%$73.61B$1.18BUSDC$0.9997+0.01%+0.01%$73.33B$12.78BXRP$1.04+0.16%-4.91%$65.03B$1.59BSolana (SOL)$75.12+2.04%+8.43%$43.63B$3.18BTRON (TRX)$0.3159-0.74%-4.31%$29.96B$641.67MHyperliquid (HYPE)$63.62-1.04%+2.08%$16.09B$556.29MDogecoin (DOGE)$0.07111-0.37%-10.00%$12.13B$834.8M Fear & Greed at 11: A Fresh Cycle Low The Fear & Greed Index printed 11 today, dropping below the previous cycle low of 12 set on June 29 and reversing the brief uptick to 15 seen just yesterday. The trajectory over the past month tells the story: last month the index read 29 (Fear), last week 17 (Extreme Fear), and now 11 — the deepest Extreme Fear reading of the entire 2026 correction. This marks the first time in the cycle that sentiment has failed to build on a recovery attempt, suggesting traders remain unwilling to add risk even as prices stabilize in familiar ranges. Sustained readings this low have historically preceded relief rallies, though the timing of any reversal remains uncertain.

Bitcoin: Breaks Below $58,000 Before Recovering Bitcoin fell as low as $57,800.19 in intraday trading on July 1 — its weakest level since the May cycle low — before buyers stepped in to push price back to $58,904.32. The 24-hour range spanned $57,800.19 to $59,457.00, reflecting the sharp volatility that has characterized the past several sessions. The broader 1-week chart shows BTC opening above $60,900 on June 26, grinding lower through a choppy mid-week stretch, breaking down sharply below $58,500 on June 30, and now testing that low again on July 1 before a modest bounce. The 7-day moving average has now crossed below the 25-day and 99-day averages, a bearish technical signal that reflects the accelerating short-term downtrend. 24-hour volume reached 21,429 BTC (roughly $1.26 billion), consistent with active repositioning rather than a single directional catalyst. With price briefly breaching $58,000, BTC has now moved closer to a retest of its May 2026 cycle low of $59,130 than at any other point since that low was set. For continuous updates, see our Bitcoin news today page.

Solana: The Only Top-10 Asset in Positive Weekly Territory Solana remains the clear leader among major assets, gaining 8.43% over the past week to $75.12, with a further 2.04% gain over the last 24 hours alone. The 1-week chart shows a powerful recovery structure — SOL bottomed near $69 in late June before staging a sustained climb through $72 and $74, closing the week above $75. Volume reached $3.18 billion, confirming genuine participation behind the move rather than thin trading. Solana’s relative strength continues to outpace Bitcoin and Ethereum by a wide margin, positioning it as the standout story of the current correction cycle.

Ethereum: Holding Above $1,575 Despite Broader Weakness Ethereum is down 5.28% over the past week to $1,579.45, a decline roughly in line with Bitcoin’s but occurring against a backdrop of persistent spot ETF outflow headlines and ongoing scrutiny of the Ethereum Foundation’s restructuring. Volume of $9.83 billion suggests the market continues to actively reprice the asset rather than sitting on the sidelines. The key level to watch heading deeper into July is whether ETH can build a stable base above $1,550. For daily coverage, see our Ethereum news today tracker.

XRP, BNB, and TRON Track the Broader Decline XRP, BNB, and TRON posted comparable weekly losses of 4.91%, 5.24%, and 4.31% respectively, tracking the broader market pullback rather than showing any asset-specific catalyst. XRP trades at $1.04 with the CLARITY Act still awaiting Senate action following its recess. BNB sits at $546.18, while TRON continues to hold up marginally better than its large-cap peers at $0.3159, consistent with its typically defensive profile during broad drawdowns.

Dogecoin: Weakest Performer in the Top 10 Dogecoin remains the clear underperformer among major assets, down 10.00% over the past week to $0.07111 — nearly double the decline of the next-weakest asset. With no underlying utility catalyst, DOGE continues to function as the purest sentiment proxy in the top 10, and its outsized weekly loss reflects just how compressed risk appetite has become during the depths of Extreme Fear.

What August Inherits From July’s Opening Day July opens with sentiment at its lowest point of the entire 2026 correction cycle, and Bitcoin’s brief break below $58,000 shows the pressure hasn’t fully released even as Solana continues to demonstrate that idiosyncratic strength is possible within a broadly bearish macro backdrop. The path forward into July will likely hinge on three factors: whether the Fear & Greed Index can build on any recovery attempt without immediately reversing, whether Bitcoin can reclaim the $59,000 zone on a sustained basis after today’s dip toward $57,800, and whether Ethereum’s relative resilience this week marks the start of a genuine bottoming process.

Compare Crypto Prices Today Bitcoin Price Ethereum Price XRP Price Solana Price BNB Price TRON Price Where to Buy Binance — largest global exchange by trading volume, wide asset selection Coinbase — beginner-friendly, strong regulatory compliance in the US Kraken — established security track record, robust fiat on-ramps KuCoin — deep altcoin listings Gate.io — wide range of trading pairs OKX — advanced trading tools and derivatives For long-term holders, self-custody via a hardware wallet is recommended over keeping large balances on exchanges.

FAQ Why did Bitcoin drop to $57,800 today? Bitcoin briefly fell to an intraday low of $57,800.19 during heightened volatility as the Fear & Greed Index hit a cycle low of 11, before recovering to trade near $58,900.

What is the Fear & Greed Index reading today? The index reads 11, classified as Extreme Fear, down from 15 yesterday and 17 last week — the lowest reading of the entire 2026 correction cycle.

Which cryptocurrency is performing best this week? Solana is the top performer among major assets, up 8.43% over the past seven days, while most other top-10 coins remain in negative territory.

Is Dogecoin still falling? Yes. Dogecoin is down 10.00% over the past week, making it the weakest performer among major cryptocurrencies during the current correction.

Beyond the details provided by the official announcement, the timing of the alliance between South Korea's third-largest internet-only bank and a public blockchain says a lot.

On June 19, Toss Bank, an online-only bank in Korea, and the Solana Foundation, an organization that supports Solana, signed a memorandum of agreement in Seoul. This is the first direct relationship between these two entities.

To see whether stablecoins can help with international transactions and remittances cheaper and more effectively than conventional banking systems, the effort will go through a proof-of-concept phase.

Currently, seven distinct currencies power Toss's operations in thirty different nations.

The deal was sealed at Toss Bank's headquarters in Seoul by Park Jin-hyun, head of strategy, and Lily Liu, president of the Solana Foundation.

No binding legal force may be exerted by the memorandum of understanding. The significance of the element is overshadowed by the surrounding context.

The IPO Subtext

Reports indicate that Viva Republica, the parent company of Toss Bank, is valued at more than $10 billion, with some estimations coming close to $20 billion.

The corporation is preparing for an American IPO.

The paid-in capital of Toss Bank has increased to almost 1.4 trillion won through six rounds of fundraising, with the organization successfully securing over $1.2 billion from major investors including GIC, Sequoia China, and Kleiner Perkins.

A prospectus is improved in three major ways compared to a remittance feature alone when an agreement is reached with a blockchain foundation four months before a listing roadshow.

At first, this changes Viva Republica's image from that of a small-town neobank to that of an important participant in the international payments system, interacting with a worldwide payments industry that, according to some estimates, is nearly $320 trillion.

This narrative, in contrast to being referred to as "Korean Chime," receives a different valuation on Nasdaq.

Next, it highlights a compliance-oriented strategy by highlighting features like AML/KYC integration, a well-established banking license, and regulatory frameworks.

US institutional investors, who differentiate between licensed financial tech firms investigating blockchain and those operating in the unregulated cryptocurrency arena, find this very attractive.

As a third benefit, blockchain settlement may lead to lower marginal costs per transaction, which is an important factor for pre-IPO margin calculations.

This is not just an attempt to sweeten the sale. The time between the events of "MOU signed" and "shipped product" should be taken into account when determining values, not disregarded.

What's Actually Being Tested

The mechanics are purposefully limited in their use. The Solana Foundation supplies the infrastructure for settlement, while Toss oversees the user experience and financial services.

In the first stage, we test the waters to see if we can transfer stablecoins on the Solana network and integrate settlement with existing remittance processes in a way that complies with the anti-money-laundering, know-your-customer, and consumer protection rules that govern Toss's licensed transfer operations.

In January 2026, Toss expanded its foreign remittance service to 30 countries; this proof of concept builds upon that base instead of beginning from square one.

If the first phase is successful, the next steps will involve tokenizing physical assets, expanding the range of digital assets offered, and payment methods.

When contrasted with the antiquated SWIFT system, which is weighed down by long settlement delays and various intermediary fees, Solana's near-instant finality and transaction costs of a fraction of a penny stand out.

The uptime record has improved greatly since the network's reputation was established by the failures.

The fact that Solana has gone more than 15 months without a major consensus failure is taken seriously by institutional risk committees as proof of reliability, not luck.

Skepticism is evident, nevertheless, because the viewpoint that "Solana requires three years without an outage" is still voiced, even in comment letters sent to the SEC.

In late 2025, with the release of Firedancer and the upcoming Alpenglow consensus update, validator client diversity will be implemented to resolve concerns by drastically decreasing the finality time from 12 seconds to 150 milliseconds.

These innovations address the widespread doubt by providing technological answers.

Despite increases in throughput and uptime, they haven't totally resolved the issue; the number of validators has reduced from over 2,500 to about 800, suggesting a tendency towards concentration that goes against the narrative of decentralization.

Korea's Crowded Stablecoin Field

Solana has had and will continue to have many institutional partners in Korea, including Toss.

A pilot initiative centered on stablecoin payments was launched in April by Shinhan Card and the Solana Foundation. Shinhan Card is the top credit card provider in the country.

Wavebridge and Solana have separately signed an MOU that will center on a won-pegged stablecoin developed for use by institutions. In conjunction with well-known Korean financial institutions, this project will introduce on-chain settlement and tokenized deposit features.

Currently, eight different commercial banks are undergoing regulatory examination as they develop a KRW stablecoin that is built on trust and backed by deposits.

A wholesale CBDC and tokenized-deposit trial is underway at the Bank of Korea, and 100,000 users are a part of it.

This project lays the groundwork for a compliant innovation in bank-grade stablecoin remittance products, rather than a strategy to take advantage of regulatory loopholes.

The tendency is toward more scrutiny, not less, and that framework is changing fast.

The Financial Intelligence Unit of South Korea pushed for the elimination of the worldwide minimum transaction threshold for the Travel Rule during the June 15–19 FATF plenary in Paris.

The Toss-Solana signing occurred around the same time as this endeavor, as they argued that the current limit of 1 million won (about $730) promotes "smurfing," the practice of dividing large transactions into smaller sums in order to avoid detection.

That threshold will be eliminated entirely on August 20, 2026, according to a change to the Enforcement Decree in Korea.

Furthermore, stablecoins used in international transactions would be classified as an official "means of payment" under the Foreign Exchange Transactions Act under the Digital Asset Basic Act, which is Korea's "Phase 2" framework.

It is expected to be implemented beginning in December 2026 and will provide a new registration system for cross-border virtual-asset transfer enterprises as well as mandate over 100% reserve backing.

Now is the time for a financial institution to position itself ahead of that deadline while still functioning inside a regulated and compliance environment.

Adjustments will be made to improve operations by a financial technology business that transitions later on, beyond its existing scope.

The Market's Verdict, So Far: Muted

As trading activity increased by single-digit percentages, SOL's price rose slightly to around $74 after the news.

It was already difficult to pin the shifts in risk assets that week on the Toss news alone when concomitant reports about U.S.-Iran peace talks began making headlines.

There is meaning in that muted reaction.

The market has grown accustomed to discounting collaborations announced at this level until concrete proof-of-concept data and regulatory permissions are revealed.

This trend has been seen before with Shinhan, Western Union’s Solana-based stablecoin attempts, and a slew of bank MOUs.

Until the end of June, the price of SOL ranged from $60 to $88.

A weekly closing below the $60-65 area might imply a probable collapse towards $30, according to analysts.

Even though the network has processed more than 100 billion transactions in its history, spot Solana ETFs have had net outflows as late as June 26.

Forming the crucial structural framework for the Toss agreement is the difference between rising on-chain use milestones and lacklustre ETF flows, as well as a price that is still around two-thirds below its all-time highs.

Among the many prominent institutional relationships that Solana is amassing are those with Toss, Shinhan, Western Union, and integrations with Visa-related commerce, as well as a staking ETF linked to Morgan Stanley.

Supporters of the changes are hoping that the network's risk premium would go down as a result.

Although it has improved, its dependability history is still not up to the long-term criteria that institutional risk teams are looking for, and it still has validator concentration and an unsolved securities-classification issue.

The Takeaway

Rather than being a finished solution, the Toss-Solana MOU shows a major path for the future of Korean banking infrastructure.

The biggest neobanks in Korea aren't sitting on their hands; instead, they're getting ready for the impending foreign-exchange revamp in December and the tightening of the Travel Rule in August.

Rethinking the best way for US allocators to model the company has been prompted by the incorporation of a blockchain framework into Viva Republica's IPO story.

This bodes well for Solana's institutional pipeline, which is large, strong, and growing; yet, until the proof-of-concept data passes compliance review and a working product is released, these agreements are only declarations of intent.

All eyes are on the memorandum of agreement. The results that matter the most will be disclosed in the second round of testing after Toss begins to connect its AML/KYC systems and partner networks.

Bitcoin (BTC) buyers in the United States have gone quiet. The Coinbase Premium Index, a gauge of US Bitcoin demand, has stayed negative since May 6, its longest weak stretch in more than a year.

The signal matters because it shows who is stepping back. A negative premium means American investors are paying less for BTC than the rest of the market. That helps answer why is Bitcoin going down.

What the Coinbase Premium Is ShowingThe index tracks the price gap between US-based Coinbase and offshore exchanges. When it turns negative, US Bitcoin demand is fading. When it climbs, American buyers are leading.

Coinbase Premium Index: CryptoQuantRight now it is stuck below zero. The current negative premium streak began on May 6, with Bitcoin near $81,429, and has held for roughly eight weeks. That is the longest such run since early 2025.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Since then, the Bitcoin spot price has slid toward $59,500, down about 27% and still falling.

Where Is Bitcoin Money GoingThe weak US Bitcoin demand lines up with a historic move in stocks. American money is not sitting idle. It is chasing chips.

The semiconductor index has beaten the S&P 500 by about 85 percentage points this year, its widest first-half lead on record, according to Kobeissi. That tops the dot-com peak of 2000.

US chip stocks are on a historic run:

The semiconductor index, $SOX, has outperformed the S&P 500 by +85 percentage points year-to-date, on pace for the best half-year outperformance in history.

This would exceed the previous record set during the Dot-Com Bubble in H1 2000 by… pic.twitter.com/Qdah3TVmgr

— The Kobeissi Letter (@KobeissiLetter) June 30, 2026 Chips now dominate the market. Semiconductors make up roughly 18% of the S&P 500 and have driven close to 70% of its 2026 gains, data shows. Micron has jumped about 300% and SanDisk more than 760%.

The rotation is visible in fund flows. Since April, US gold and Bitcoin ETFs have lost about $12 billion, while chip ETFs pulled in around $20 billion.

Retail investors appear to be rotating out of gold and Bitcoin into semiconductor stocks:

Since April, US gold and Bitcoin ETFs have posted -$12 billion in cumulative outflows.

Over the same period, US semiconductor ETFs have attracted +$20 billion in cumulative inflows.

This… pic.twitter.com/VHuDTB0nyN

— The Kobeissi Letter (@KobeissiLetter) June 27, 2026 BlackRock’s iShares Bitcoin Trust (IBIT), the largest bitcoin fund, led June’s record ETF outflows, the worst month since spot ETFs launched.

The January WarningThis is not the first time US Bitcoin demand vanished this year. The pattern already played out once.

Bitcoin’s premium turned negative around January 15, when BTC traded near $95,583. By the time that streak ended on February 24, Bitcoin had crashed to about $64,100.

Coinbase Premium Index January: CryptoQuantThat was a drop of roughly 33% in six weeks. The current slump is longer and shows the same fading US demand.

One Caveat Before the PanicThere is a catch to the rotation story. Bitcoin and the Nasdaq usually move together, with a six-month correlation near 0.46. That link normally means both rise and fall on the same macro forces.

BTC-NASDAQ Correlation: Charlie Quant LabThis year, though, the two have split but the correlation stays intact. Bitcoin is down about 33% in 2026, while the tech sector has gained more than 20% in the first half.

Tech 6-Month Performance: FinVizThe reason for the gap points straight back to chips. Semiconductors drove close to 70% of the market’s 2026 gains, so this tech rally is really a chip rally. In other words, the asset class Bitcoin usually tracks is being lifted by the exact sector US buyers are moving into.

That is why the split matters. When a normally correlated pair breaks apart this far, capital moving from one into the other is the simplest explanation.

What Happens NextBitcoin’s next move may hinge on US buyers. If the premium stays negative and chip inflows continue, the path of least resistance points lower for BTC. The January-February price slump of 33% shows that BTC can still correct further.

Yet, a flip back to positive would be the first real sign that domestic BTC demand is returning. Until then, the January script remains the one to watch.

안녕하세요.
당신의 안전한 금융 파트너, 빗썸입니다.

BORA 생태계 핵심 인프라 '포털 서비스 리뉴얼' 기념 에어드랍 이벤트를 진행합니다.
자세한 내용은 아래를 참고하시기 바랍니다.

■ 보라(BORA) 입금하고 매도하면 최대 1.5% 혜택을 드립니다.

1. 이벤트 기간 : 26. 7. 1(수) 16:00 ~ 26. 7. 6(월) 23:59

2. 참여 방법

(1) 이벤트 신청하기

(2) 타 거래소 또는 외부 지갑에서 보라(BORA) 1,000만원 이상 입금

(3) 원화마켓에서 보라(BORA) 1,000만원 이상 *메이커 주문으로 매도

* 메이커 주문이란 지정가 주문 즉시 체결되지 않고 호가창에 새로운 잔량을 만드는 주문을 말합니다.

3. 혜택 : 인정 금액의 최대 1.5% 상당

- 이벤트 기간 내 입금하고 *메이커 주문으로 매도 체결된 금액 합산 기준, 인정 금액 구간에 해당하는 모든 고객에게 혜택 지급

* 단, 이벤트 공지 게시 이후 부터 이벤트 신청하기 이전 출금한 금액도 순입금액에 포함됩니다.

(이벤트 신청 일시와 무관하게 안내된 이벤트 기간 내 순입금 & 매도 금액으로 산정)

4. 혜택 지급일 : 2026. 7. 30(목)

* 혜택 지급 대상 인정금액이 있더라도, 이벤트 참여 종료일로부터 혜택 지급 전일 24시까지 이벤트 종목 출금 시 혜택이 지급되지 않습니다.

* 이벤트 혜택 소진 시 지급되는 자산이 변경될 수 있습니다.

· 보라(BORA) 프로젝트

BORA는 카카오게임즈 산하 메타보라의 Web3 브랜드로, 게임 및 엔터테인먼트에 특화된 글로벌 Web3 콘텐츠 플랫폼입니다.

BORA는 게이머가 생태계에서 능동적으로 활동하고 보상을 경험하는 'Gamer Engagement Platform'을 지향합니다.

게임 내 활동과 보상을 유기적으로 연결하는 생태계 핵심 인프라 '보라 딥스(BORA DEEPS)'를 중심으로

이용자 참여형 생태계를 구축하여 누구나 쉽고 편리하게 즐길 수 있는 차세대 Web3 환경을 제공합니다.

· 보라(BORA) 포털 리뉴얼

BORA 생태계의 핵심 허브인 'BORA 포털(BORA Portal)'이 전면 개편되었습니다.

이번 리뉴얼을 통해 사용자 중심의 UI/UX 개선을 통해 서비스 접근성을 대폭 강화하였습니다.

특히 토큰 유틸리티 확인부터 생태계 내 보상 통합 관리 및 'BORA DEEPS'를 통한 온체인 콘텐츠 참여 지원까지,

사용자가 BORA의 모든 것을 경험할 수 있는 Gateway로서 편의성을 극대화하였습니다.

새롭게 진화한 BORA 포털에서 한층 더 편리해진 Playable Web3 생태계를 경험해 보시기 바랍니다.

- BORA 포털 바로가기 : https://www.boraportal.com

■ 유의사항

1. 참여 유의

- 본 이벤트는 고객 확인 완료된 계정만 신청할 수 있습니다.

- 원화 계좌(KB 국민은행)가 연결되지 않거나 거래 불가 상태의 고객은 참여 대상에서 제외됩니다.

- 법인 계정은 참여 대상에서 제외됩니다.

- 본 이벤트는 '이벤트 신청하기' 가 완료된 고객을 기준으로 혜택이 산정되며, 이벤트 참여하기 완료와 입금 또는 거래 행위의 순서는 무관합니다.

- 최종 집계 시 혜택 지급 대상이더라도, 이벤트 종료일 이후 혜택 지급 전일까지 이벤트 종목 출금 시 혜택이 지급되지 않습니다.

- 거래소 자체 모니터링을 통해 특정 계정 간 반복 거래 및 이상거래로 판단되는 경우 혜택 지급 조건에서 제외됩니다.

- 이벤트 기간 중 참여 대상에 해당하더라도, 이후 동일 가상자산 관련하여 시세 조종 등 불공정거래행위가 의심되는 경우에는 지급 대상자에서 제외됩니다.

- 이벤트 혜택 지급 시점 기준 고객확인 재이행 대상자이거나, 마케팅 수신 동의 거부, 탈퇴한 고객님께는 혜택 지급 대상자에서 제외됩니다.

- 혜택은 비트코인(BTC) 또는 보라(BORA)으로 지급되며, 당사 사정에 의해 지급 일정 또는 지급하는 자산이 변경될 수 있습니다.

- 에어드랍 이벤트 혜택은 혜택 지급일 기준 전일 종가로 원화 환산하여 소수점 6자리까지 지급됩니다.

- 혜택 지급 후 30일 동안 미거래 시, 31일 이후 영업일에 소멸됩니다.

- 혜택 소멸 시, 1) 이벤트 지급 대상 자산 → 2) 원화 → 3) 전일 자정 기준 코인마켓캡 시가총액이 높은 가상자산 순으로 소멸되며, 가상자산의 경우 전일 종가 시세 기준으로 계산되어 소멸됩니다.

- 혜택 소멸 시점에 코인대여(렌딩플러스)를 이용 중이신 경우 자동상환이 발생할 수 있으니 이용에 유의해주시기 바랍니다.

- 혜택 자산을 변경하여 지급하는 경우 원화 또는 기타 가상자산으로 지급될 수 있으며, 제세공과금이 발생될 수 있습니다.

* 제세공과금 공제 안내

- 본 이벤트에서 지급되는 혜택이 5만원을 초과하는 경우, 소득세법에 따라 제세공과금(22%)이 발생됩니다.

- 제세공과금은 고객님의 부담으로 처리되며, 지급 시 제세공과금을 제외한 금액 또는 수량으로 최종 지급됩니다.

- 지급되는 혜택은 고객님의 기타 소득으로 합산되며, 고객님의 기타 소득이 연 3백만원을 초과할 경우 종합과세될 수 있습니다.

- 혜택 지급을 위해 고유식별정보 수집·이용 동의가 필요하며, 동의하지 않는 경우 혜택 지급이 불가합니다.

- 혜택 지급 후 30일 내 거래를 완료한 경우 고객에게 최종 귀속되며, 익월 10일에 소득세법상 기타소득으로 신고됩니다.

2. 이벤트 안내

- 인정 금액은 이벤트 기간 내 순입금하고 메이커 매도 주문 후 메이커 체결이 완료된 금액에 따라 산정됩니다.

- 인정 금액 기본 계산식 = ∑ min(이벤트 대상 종목 순입금액, 이벤트 대상 종목 메이커매도금액)

[순입금액 산정 조건]

- 순입금액은 이벤트 기간 내 타 거래소 또는 외부 지갑에서 이벤트 종목을 1,000만원 이상 순입금하셔야 혜택 대상으로 집계됩니다.

- 순입금액은 타 거래소 또는 개인 지갑을 통한 외부 입금액에서 누적 출금액(원화 환산 기준)을 차감한 금액입니다.

- 입.출금 시 원화 환산액은 입.출금 당시 빗썸 원화마켓 시세(거래 개시 이전의 경우 기준가) X 수량으로 계산됩니다.

(거래 개시 이전 기준가가 변경된 경우 원화환산액은 입금시간에 따라 각 기준가 * 수량으로 계산)

- 빗썸 원화 입금 또는 빗썸 고객 간의 내부 입금은 순입금액에 포함되지 않습니다.

- 순입금액 기본 계산식 = 이벤트 기간 내 대상 종목 누적 입금액 - 이벤트 기간 내 대상 종목 누적 출금액

*이벤트 공지 게시 이후부터 이벤트 신청 전 사이에 출금한 동일 종목 금액은 이후 재입금하더라도 순입금액에 포함되지 않습니다.

[메이커 주문 매도금액 산정 조건]

- 본 이벤트 기간 내 이벤트 종목을 1,000만원 이상 순입금한 후 빗썸 원화마켓에서 1,000만원 이상 메이커 주문 후 메이커 매도 체결된 경우 인정 금액으로 집계됩니다.

- 메이커 매도 체결 금액은 순입금액을 초과할 수 없습니다.

- 메이커 매도 체결 금액은 API 거래도 포함하여 인정됩니다.

- 메이커 매도 금액 = 이벤트 기간 내 대상 종목 메이커 체결 매도 금액

3. 혜택

- 혜택은 이벤트 종목 1,000만원 이상 순입금 후 원화마켓에서 메이커 주문으로 1,000만원 이상 메이커 매도 체결된 금액 기준, 인정 금액 구간에 따라 0.7~1.5%가 지급됩니다.

- 인정 금액 구간 1,000만원 미만은 혜택 대상에서 제외됩니다.

- 참여 고객의 총 혜택이 9,000만원 상당을 초과하는 경우, 혜택은 인정금액 구간별 총 금액에서 혜택 대상 고객수로 균등 분할하여 지급됩니다.

※ 총 9,000만원 상당 혜택 초과 시, 인정 금액 구간별 총 혜택 구분표

4. 중복 참여 불가 이벤트/서비스

- 본 이벤트 참여 시 아래 이벤트/서비스는 참여 불가합니다.

1) 거래소 이동지원금, 투자지원금

2) 빗썸으로 입금하면 최대 100만원 상당의 혜택을 드립니다.

3) 에어드랍 이벤트 (이벤트 종목과 동일한 경우에 한함)

- 본 이벤트 참여 중 타 이벤트/서비스를 신청하시더라도 혜택은 지급되지 않으며, 이미 타 이벤트/서비스를 이용 중인 경우 본 이벤트에 참여할 수 없습니다.

- 중복 신청 및 참여 불가한 이벤트/서비스 추가 발생 시 별도 안내드릴 예정입니다.

5. 기타 유의사항

- 이벤트 종목에 대해서 출금 수수료 또는 출금한도가 조정될 수 있습니다.

- 본 이벤트 참여 중 취소는 불가하오니, 신중한 신청 부탁드립니다.

- 본 이벤트는 당사 사정에 의해 사전 고지 없이 변경 또는 조기 종료될 수 있습니다.

- 이벤트 참여 조건 충족 여부 및 혜택 지급 일정은 당사의 사정에 따라 조정될 수 있습니다.

- 이벤트 참여자의 회원 정보는 어뷰징 등의 비정상적인 참여 및 중복 참여를 제한하기 위해 회원 탈퇴시까지 보관 후 파기됩니다.

- 빗썸 회원 가입이 불가한 만 19세 미만, 외국인, 법인 및 금융위원회 고시 금융거래제한대상자 등은 이벤트 참여 대상에서 제외됩니다.

- 거래소 또는 재단 관련인으로 확인되는 경우 지급 대상자에서 제외되며, 비정상적인 입출금 및 불공정한 방법으로 이벤트에 참여하였을 경우 지급 대상에서 제외됩니다.

- 통정매매, 가장매매, 자전거래 등 불공정거래나 이상거래 또는 기타 어뷰징 행위를 통해 혜택을 편취한 경우 이벤트 대상에서 제외되며, 지급해드린 혜택은 소멸됩니다.

- 본 이벤트 이용 안내를 위한 휴대폰 번호 업데이트가 필요하며 휴대폰 번호를 업데이트 하지 않아 발생하는 불이익에 대한 일체의 책임은 고객 본인에게 있습니다.

- 본 이벤트 신청 고객님께 이벤트 참여 현황과 혜택 지급 및 소멸 안내를 드릴 수 있습니다.

- 가상자산 서비스 이용 또는 거래지원 대상 가상자산 거래 전 구체적인 내용은 관련 약관 또는 백서 등 설명자료를 확인하여 주시기 바랍니다.

- 가상자산은 고위험 상품으로써 투자금의 전부 또는 일부 손실을 초래할 수 있습니다.

- 가상자산의 투자 판단 및 그에 따른 원금 손실의 책임은 회원 본인에게 있습니다.

㈜빗썸 준법감시인 심사필 제006540호 (26. 01. 15. ~ 27. 01. 14.)

Aptos Labs has joined more than 140 companies, including Visa, Mastercard, Coinbase, and BlackRock, in backing the launch of Open USD, a new stablecoin designed to solve persistent cost and access problems in global payments. The @Aptos network is listed alongside other blockchain infrastructure providers as one of the platforms on which the token will eventually be available.

A New Economic Model for Stablecoins Open USD charges no fees to mint or redeem, even at scale, eliminating a cost barrier that has slowed institutional stablecoin adoption for treasury and payments teams operating at high volume. That is a deliberate break from existing products. Revenue from reserve economics is shared with companies that grow adoption, with most revenue generated from reserves returned to participants after a small management fee, inverting the standard issuer-capture approach in which the issuing company retains float income on dollar-backed assets as its primary revenue stream.

The token, ticker OUSD, will be operated by Open Standard, an independent company whose board is composed of the stablecoin's partners. Zach Abrams, co-founder and CEO of Stripe-owned stablecoin infrastructure company Bridge, leads Open Standard as its founding CEO.

Broad Industry Coalition and Market Context Payment networks and processors including Visa, Mastercard, American Express, Stripe, and Adyen are involved, alongside major global banks such as BlackRock, BNY, Standard Chartered, DBS, and Commonwealth Bank of Australia. Technology companies including Google, Samsung Electronics, IBM, and Shopify have also signed on, as has a broad swath of the crypto industry, including Aptos Labs, Solana, Coinbase, Ripple, Aave, and Fireblocks.

Open USD is planned on four blockchain networks, including Solana, Polygon, Aptos Labs, and Stellar, when it goes live later in 2026. The launch arrives as the broader stablecoin market continues to expand. The total stablecoin market cap has surpassed $300 billion, reflecting growing demand for blockchain-based payment infrastructure from both crypto-native companies and traditional financial institutions.

Circle was the news's clearest casualty, with CRCL stock falling to a four-month low and closing down 17.55% on the day of the announcement. The reaction reflects how directly Open USD's model threatens Circle's core business, which relies on retaining the interest earned on USDC's reserves rather than sharing it with distributors.

Sources:
The Block: Visa, Stripe, Coinbase and more join Open USD stablecoin that shares reserve revenue
Blockhead: Visa, Stripe, BlackRock among 140 firms backing new Open USD stablecoin
CoinLaw: Open Standard Launches Open USD Stablecoin Backed by 140 Companies

CROWDFUNDINSIDER: Blockchain Analytics Platform Arkham Rolls Out Elo Ratings for Prediction Market Traders

Hollywood director Carl Rinsch has been sentenced to two and a half years in prison for defrauding Netflix out of $11 million, which he spent on crypto, stocks and luxury goods.

A Manhattan federal court on Monday sentenced Rinsch, known for directing the 2013 film “47 Ronin,” starring Keanu Reeves, to 30 months in prison after he was convicted in December on charges including fraud and money laundering.

“Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating,” Manhattan US Attorney Jay Clayton said in a statement Monday.

“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” Clayton added. “Today’s sentence sends a deterrent message: fraud will not be tolerated.”

Rinsch’s sentence was far below the maximum possible prison time of 90 years he was facing for his seven total charges, to which he pleaded not guilty. His defense also argued that he suffered from mental health issues.

The sentence brings to a close a 15-month saga after Rinsch was arrested in March 2025 for defrauding what prosecutors referred to in court documents as “Streaming Company-1,” which multiple reports have identified as Netflix.

Source: US Attorney SDNY

Rinsch makes $27 million on Dogecoin betAccording to a March 2025 indictment and a November 2023 New York Times report on a confidential arbitration proceeding between Netflix and Rinsch, the company initially gave Rinsch $44 million for his sci-fi show “White Horse,” later renamed “Conquest,” but he asked for more funds to finish the show, prompting Netflix to wire an additional $11 million in March 2020.

Rinsch used $10.5 million from the fresh funding to gamble on the stock market and quickly lost about half of it in a few weeks by trading options on pharmaceutical companies and the S&P 500.

Rinsch transferred more than $4 million in remaining funds to crypto exchange Kraken and went all in on the memecoin Dogecoin (DOGE), a bet that ultimately generated around $27 million when he liquidated in May 2021, according to an account statement seen by The Times.

Carl Rinsch giving an interview in 2013 for his feature directorial debut film 47 Ronin. Source: YouTube

With the DOGE winnings, Rinsch then spent about $10 million on personal expenses and luxury goods, including $1.8 million on credit card bills, $1 million on lawyers to sue Netflix, $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, and $652,000 on watches and clothes, according to the indictment.

Rinsch never finished the show or returned the funds Netflix provided to complete it.

Prosecutors asked for five yearsRinsch was convicted of one count each of wire fraud and money laundering, each carrying a maximum sentence of 20 years in prison, along with five counts of making monetary transactions in property derived from unlawful activity, each carrying a maximum of 10 years.

Prosecutors asked the court in a mid-June sentencing memo to give Rinsch five years in prison after he argued for a sentence without prison time.

Rinsch’s defense said he suffered from mental health issues, with friends and family members writing to the court to say that his behavior changed around the time of the offenses. Keanu Reeves also wrote to the court in support of Rinsch.

In addition to his two-and-a-half-year prison term, Rinsch was sentenced to three years of supervised release, $11 million in forfeiture and $700 in mandatory special assessments.

Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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