Track market-moving stories before they get noisy

PANews reported on June 26, according to The Block, Strategy's perpetual preferred stock STRC fell to an all-time low of $74 on Thursday, a 26% discount to its $100 par value, before slightly recovering to $75.69; MSTR broke below $87, its lowest since February 2024, with a drop of more than 50% over the past month or so. STRC is the primary financing vehicle for Strategy's recent Bitcoin accumulation. Strive's perpetual preferred stock SATA fell to an all-time low near $84 on Thursday.

Binance Alpha will today launch the exclusive Token Generation Event (TGE) for CAP (CAP)

According to official announcements, Binance Alpha will launch the exclusive Token Generation Event (TGE) for CAP (CAP), with the subscription period running from 18:00 to 20:00 (UTC+8) on June 26, 2026. Eligible users must participate using Alpha Points.

4 minutes ago

Serenity: High-beta stocks typically fall first during broad market corrections, but also recover earlier.

Serenity issued a statement noting that global financial markets are currently undergoing a broad correction, with no clear end in sight. Major Asian stock indices are under broad pressure: South Korea’s KOSPI fell 8.18%, Japan’s Nikkei 225 dropped 4.8%, and Taiwan’s Weighted Index declined 3.82%. Meanwhile, high-growth stocks that had previously posted strong gains have also suffered severe losses, with individual names like SOI and RKLB logging cumulative declines of 30% to 40% recently. Per historical market patterns, high-beta stocks typically enter a correction phase ahead of the broader market and tend to see steeper drops, but they also often lead the rebound once the market stabilizes. Excluding South Korea’s inherently highly volatile market, a single-day decline of 3% to 4% in major indices usually signals a rapid cooling of market risk appetite, making the short-term market environment quite challenging.

4 minutes ago

Jiang Zhuoer: "AI bubble may burst once incremental funds dry up"

Jiang Zhuoer, founder of BTC.TOP (formerly LTC Pool), posted that liquidity in the US stock market is no longer sustainable. Just as the Bitcoin bull market ends when new inflows fail to support price rallies, the AI bubble will burst when new capital can’t sustain stock price gains. Initially, tech stocks rallied broadly, then only AI-related stocks advanced, and now only storage stocks are still rising—even AI leader Nvidia has started to decline.

4 minutes ago

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $691.7 million, while U.S. spot Ethereum ETFs posted a net outflow of $81.9 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs posted a net outflow of $691.7 million yesterday, while Ethereum ETFs saw a net outflow of $81.9 million.

4 minutes ago

Binance Alpha will today launch the exclusive Token Generation Event (TGE) for CAP (CAP)

According to official announcements, Binance Alpha will launch the exclusive Token Generation Event (TGE) for CAP (CAP), with the subscription period running from 18:00 to 20:00 (UTC+8) on June 26, 2026. Eligible users must participate using Alpha Points.

4 minutes ago

Serenity: High-beta stocks typically fall first during broad market corrections, but also recover earlier.

Serenity issued a statement noting that global financial markets are currently undergoing a broad correction, with no clear end in sight. Major Asian stock indices are under broad pressure: South Korea’s KOSPI fell 8.18%, Japan’s Nikkei 225 dropped 4.8%, and Taiwan’s Weighted Index declined 3.82%. Meanwhile, high-growth stocks that had previously posted strong gains have also suffered severe losses, with individual names like SOI and RKLB logging cumulative declines of 30% to 40% recently. Per historical market patterns, high-beta stocks typically enter a correction phase ahead of the broader market and tend to see steeper drops, but they also often lead the rebound once the market stabilizes. Excluding South Korea’s inherently highly volatile market, a single-day decline of 3% to 4% in major indices usually signals a rapid cooling of market risk appetite, making the short-term market environment quite challenging.

4 minutes ago

Jiang Zhuoer: "AI bubble may burst once incremental funds dry up"

Jiang Zhuoer, founder of BTC.TOP (formerly LTC Pool), posted that liquidity in the US stock market is no longer sustainable. Just as the Bitcoin bull market ends when new inflows fail to support price rallies, the AI bubble will burst when new capital can’t sustain stock price gains. Initially, tech stocks rallied broadly, then only AI-related stocks advanced, and now only storage stocks are still rising—even AI leader Nvidia has started to decline.

4 minutes ago

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $691.7 million, while U.S. spot Ethereum ETFs posted a net outflow of $81.9 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs posted a net outflow of $691.7 million yesterday, while Ethereum ETFs saw a net outflow of $81.9 million.

4 minutes ago

In the past 24 hours, Bitcoin [BTC] saw $415.83 million worth of derivatives traders liquidated, with $319.18 million worth of these positions being long. Recent hours of trading saw the leading crypto test the $59.1k low once again, threatening another bearish breakdown.

Since the 6th of May, the Coinbase Premium Index for Bitcoin has been negative. The metric tracks the asset’s price difference between Coinbase (USD pair) and Binance (USDT pair).

Source: CryptoQuant The low premium levels implied reduced enthusiasm among U.S.-based investors compared to the global market. Additionally, the liquidation heatmap data AMBCrypto reported on earlier indicated why BTC prices might dive toward the $57k area in the coming days.

Price weakness versus subsiding Spot selling pressure Source: BTC/USDT on TradingView The 4-hour chart showed a bearish swing structure in place. The fall from $74.5k to $59.1k was used to plot a set of Fibonacci retracement levels (yellow). The 50% level at $66.8k rejected the bullish advance.

The longer-term structure, combined with this rejection, meant that a price drop to $55.5k and possibly even $49.6k could commence in the coming weeks.

The hidden danger for the next Bitcoin market phase Glassnode’s weekly market report noted that Spot markets led the sell-off. Derivatives markets reacted to the move rather than driving it, which can help achieve market lows in the coming months.

Some long-term investors were beginning to see current prices as attractive buying levels. However, a market-wide accumulation was not yet underway, according to the analytics platform.

There is a threat that could catalyze the market bottom.

Source: Axel Adler Jr. Crypto analyst Axel Adler Jr. drew attention to the Bitcoin and the Strategy [MSTR] stock’s drawdown. They were 51% and 78% down from their highs, respectively, which represented heavy losses.

Still, it wasn’t close to the 2022 bottom values, when drawdown reached -77% and -89%, respectively.

If the company is forced into a position where it has to sell spot Bitcoin to pay preferred dividends and the company’s interest on debt, it could be bad news for the wider crypto market.

Though the company’s debt has no margin call risk, its spot selling could send the already fearful market sentiment into a widespread panic.

Such an outcome could hasten or even mark the final capitulation of the cycle before an eventual recovery.

Final Summary The Bitcoin Coinbase Premium Index has been negative for more than six weeks, signaling weak interest from U.S. investors. In the short term, another price drop below $59k appeared likely, as derivatives markets catch up to the spot-driven move.

Bitcoin fell briefly toward the $58,000 level on Thursday as mounting macroeconomic uncertainty, weakening short-term investor conviction and widespread liquidations intensified selling pressure across crypto.

The decline came amid a sharp reversal in US equities, erasing roughly $1 trillion from the S&P 500, while Bitcoin briefly touched $58,000 for the first time in 21 months.

Short-term holder momentum continues to weakenCryptoQuant stated that the market continues to show signs of weakening speculative demand, with the Short-Term Holder (STH) Realized Price Year-on-Year Momentum falling deeper into negative territory.

The metric has declined from around -2.4% in mid-March to approximately -24% as of Tuesday, suggesting that recent buyers are entering the market at significantly lower price levels than a year ago.

CryptoQuant noted that the continued deterioration reflects fading participation from short-term traders, although the current reading remains less severe compared to previous bear-market reset periods, when the metric typically fell between -55% and -65%.

“These levels coincided with periods of severe short-term holder cost-basis reset, after which market conditions eventually improved,” CryptoQuant analyst Zizcrypto wrote.

While Bitcoin's price could begin to recover before the indicator reverses, the firm said the metric has yet to show evidence of a sustained improvement in short-term holder conviction.

Inflation fears spark market-wide sell-off amid Bitcoin declineThe weak onchain backdrop coincided with a dramatic sell-off across traditional financial markets. The Kobeissi Letter attributed the declines to renewed inflation fears and concerns surrounding the rising costs of artificial intelligence infrastructure.

Markets initially shrugged off US Personal Consumption Expenditures (PCE) data showing inflation accelerated to 4.1% in May, the highest level since April 2023.  However, the event was followed by a sharp dip in equities, with Apple stock dropping nearly 6% after it announced an increase in product prices.

The broader risk-off move spilled over into digital assets, where approximately $500 million in leveraged Bitcoin long positions were liquidated in about an hour, accelerating Bitcoin's decline toward $58,000.

STRC weakness pressures Strategy's funding outlookOn the other hand, Arkham Intelligence highlighted that growing concerns surrounding Strategy's STRC perpetual preferred shares added another layer of uncertainty for Bitcoin investors.

The firm noted that STRC's roughly 25% decline below its $100 par value reflects investor concerns over Strategy's ability to sustain its $1.2 billion annual dividend payments rather than an imminent collapse.

Unlike Terra's algorithmic stablecoin model, STRC has no forced liquidation mechanism or mandatory dividend obligation that could trigger a death spiral.

Arkham warned that prolonged weakness in the preferred shares could make future capital raises more difficult. Such conditions could slow Strategy's Bitcoin accumulation strategy over the long term if investor appetite continues to weaken.

Bitcoin is trading at $59,770, down nearly 2% in the past 24 hours at the time of writing.

Alpha is MetaMask's weekly market report—context, data, and signal. 

Bitcoin is trading as part of a macro risk basket with semiconductors and SpaceX, not on crypto-native catalysts. The AI-stock selloff, Micron's earnings test, and a massive options expiry are defining the regime.

TL;DRBTC is moving with chip stocks, not crypto headlines

Micron's $41.5B quarter tests the AI capex cycle

$10B in options expire Friday, quarter-end closes Tuesday

The Number: SpaceX sees $600 billion come and goAt least that much market value has been erased from SpaceX since the company’s stock price soared post-IPO last week, according to coverage of the three-session selloff.

The Big Story: Why BTC is trading like a chip stock right nowBitcoin slid toward $62,000 on June 23 as a 10% crash in global AI stocks spread into digital assets. A day later, Micron posted record fiscal Q3 revenue of $41.5 billion and guided Q4 to $50 billion. Memory is the bottleneck that matters most to the AI buildout, so Micron's print was a test of whether the capex cycle underneath the AI trade is still real.

BTC moved with semis because macro funds have spent much of 2026 treating semis, data-center suppliers, Bitcoin, and Bitcoin proxies as one long-duration risk basket. The ETF wrapper, the futures market, and the treasury-proxy layer each transmit that differently.

This is not a trade call. It is a regime call. When chip earnings, the dollar, and Fed repricing drive BTC more than crypto-native headlines, the basket is in control. The same de-risking that hit semis helped puncture SPCX's first-week premium. Polymarket's Fed hike board at 55–60% puts a live number on the regime.

The Setup: Another one (quarter)Friday, June 26: Roughly $10.5 billion in BTC options expire on Deribit, with max pain near $72,000 before the monthly crypto derivatives reset.

Tuesday, June 30: Quarter-end positioning and June closes could exaggerate moves across BTC, semis, and SPCX.

Disclaimer: This content is for general information purposes only and does not constitute financial, investment, tax, or legal advice and is not a recommendation to buy or sell any particular digital asset or to employ any specific investment strategy.

PANews June 26 news, according to SoSoValue data, yesterday (Eastern Time June 25) the total net outflow of Bitcoin spot ETFs was $696 million.

The Bitcoin spot ETF with the highest single-day net inflow yesterday was Morgan Stanley ETF MSBT, with a single-day net inflow of $9.1679 million. As of now, MSBT's historical total net inflow has reached $327 million.

The Bitcoin spot ETF with the highest single-day net outflow yesterday was Fidelity (Fidelity） ETF FBTC, with a single-day net outflow of $274 million. As of now, FBTC's historical total net inflow has reached $10.143 billion.

As of press time, the total net asset value of Bitcoin spot ETFs is $72.573 billion, the ETF net asset ratio (market value as a percentage of total Bitcoin market cap) has reached 6.09%, and the historical cumulative net inflow has reached $52.05 billion.

XRP crashes to price point last seen in November 2024.

XRP's price crashed to another new low of $1.02 on June 25 as the sixth-largest cryptocurrency hit a level it last touched in mid-November 2024.

However, that was a different time as Donald Trump had just won the presidential election for the second time and the crypto market was rallying as a consequence.

In 2024, XRP was trading at $0.50 in early November and aggressively rallied to $2.70 in early December.

When the legal battle regarding the regularity status of XRP in the United States was nearing its end, its price hit as high as $3.65 in mid-July 2025.

But then, the flash crash on Oct. 10 ruined everything for the crypto market, and XRP couldn't escape the heat either. This June, the cryptocurrency has been struggling to hold the $1 price level.

Even the leading cryptocurrency, Bitcoin (BTC), crashed below $58,200 on June 25—a price range it had last touched in September 2024.

Trending on TheStreet Roundtable:Analyst compares Saylor's Strategy to bankrupt crypto companyStandard Chartered predicts 5,000% upside for struggling tokenBlackRock's iconic fund hits new yearly lowXRP ETFs show weak performanceOver the last 24 hours, crypto positions worth $915 million have been liquidated as per CoinGlass.

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XRP liquidations stood at $42 million, including $40.7 million in long and $1.5 million in short positions.

Liquidation Heatmap, Source: CoinGlass

U.S. spot exchange-traded funds (ETFs) linked to XRP, launched in 2025, have also seen a weak performance over the last few months.

The first few months saw stunning performance, with the ETFs posting net inflows of $666.61 million in November and $499.91 million in December even amidst a bearish market.

But 2026 has been very rough for the funds, with inflows of $15.59 million in January and $58 million in February. 

Total XRP Spot ETF Net Inflow, Source: SoSoValue

March was worse, with the funds bleeding $31 million in outflows. April, May, and June have brought in inflows of $81.59 million, $131.94 million, and $31.32 million, but the figures have been declining.

XRP was trading at $1.03 at the time of writing.

XRP is attempting to hold the key support region around $1.02 following a recent sell-off, as market attention turns to the progress of the CLARITY Act for digital assets in the United States. Analysts indicate that whether this technical level is maintained could determine the short-term direction for the cryptocurrency.

XRP holds at crucial support regionAccording to recent technical assessments shared in the market, XRP currently trades within one of the most significant support zones of this cycle. Analyst ChartNerdTA highlights that the 200-week exponential moving average and the 300-week simple moving average intersect close to $1.02. These averages are commonly used to monitor medium- and long-term price trends.

Mini glossary: POC, or Point of Control, refers to the price level with the highest trading volume over a certain period. EMA (Exponential Moving Average) responds more quickly to price changes, while SMA (Simple Moving Average) calculates the average price evenly across the selected period.

The analysis draws parallels with the bear market low of 2022, when XRP slipped about 23% below the 200 EMA on the biweekly chart before rebounding as a cycle bottom formed. Should a similar scenario unfold, the price could theoretically approach the $0.80 region, though this is not presented as a definite outcome.

According to ChartNerdTA’s assessment, market focus now centers on the Point of Control at current levels: a sustained hold could spark a recovery, but a breakdown may lead to deeper corrections.

In the short term, while some investors continue to anticipate a last wave of weakness following the recent sell-off, others argue that underlying fundamentals remain stronger than the technical picture suggests.

US CLARITY Act brings regulatory debates back to focusAmid ongoing price pressure, the CLARITY Act—a US legal proposal on digital asset regulation—is also shaping industry sentiment. The bill seeks to place investment contract-type assets under SEC oversight, while assets classified as digital commodities would fall mainly under CFTC supervision.

The bill cleared the Senate Banking Committee in May with a 15-to-9 vote and has been scheduled on the Senate calendar since early June. However, further progress remains uncertain due to ongoing debates over ethical guidelines, developer liability protections, and other wider regulatory provisions.

Ripple, through its “Clarity Truck” campaign in Washington, has called on policymakers to establish clear and consistent rules for digital assets, lending support to regulatory clarity.

Ripple, a US-based blockchain company known for its cross-border payments infrastructure built on the XRP Ledger, stands among the most prominent supporters of this regulatory move. The special field hearing scheduled by the House Financial Services Committee in New York on July 17 is expected to increase political momentum around the bill.

Technical indicators flash mixed signalsBased on TradingView data, the overall technical outlook for XRP remains neutral, though most sub-indicators suggest ongoing weakness. Of the signals monitored, 16 point to sell, eight to neutral, and only two to buy. Over the last 24 hours, XRP declined by 2.86%, trading again near $1.02 at the time of reporting.

IndicatorLevelCommentMain support$1.00 to $1.02Critical for the short termImmediate resistance$1.14 to $1.15Needs to be reclaimed for improved outlookDeeper support$0.81132Lower support regionMoving averages suggest the downward trend remains intact. The 10-day EMA stands at $1.12065, the 20-day EMA at $1.15322, the 50-day EMA at $1.23333, and the 200-day EMA at $1.54315. In contrast, the Relative Strength Index (RSI) is nearing the oversold threshold at 33.89, with Stochastic RSI at 14.16 and the Williams %R indicator at minus 88.51. The MACD indicator continues to hold negative at minus 0.04456.

This data suggests selling pressure may have eased somewhat, yet there is not enough confirmation for a strong recovery. Market participants are now watching to see if the $1.00 to $1.02 band can be maintained and whether the $1.14 to $1.15 range can be regained on the upside.

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.

XRP Quietly Loses Its Last Line of Support

In brief Base was down for more than two hours on Thursday after an issue arose that halted block production. The network is back up and running, and the network is still moving forward with a planned upgrade. Last month, the network had a partial outage that affected withdrawals. Base, the Ethereum layer-2 network incubated by crypto exchange Coinbase, was down for more than two hours on Thursday due to an issue that affected block production. 

The issue first arose around noon ET on Thursday and came just hours before the network had a scheduled upgrade, according to the network’s status page. 

“Base Mainnet is currently halted while the team works on an issue with block production,” the network posted on X around 12:20 p.m. ET. “All funds are secure, and we’ll update below once resolved.”

Around 1:00 p.m. ET the network reportedly identified the issue, but it was not immediately resolved. 

Blocks are being produced and we’re seeing apps and infrastructure coming back online as their Base nodes are restarted and synced.

Recovery should be quick for each app/infrastrucure provider once the node restarts are initiated.

Thank you all for your patience while we got…

— Base Build (@buildonbase) June 25, 2026

“We continue to debug and have isolated a consensus problem that caused an invalid block to be sequenced,” the network posted on its status page. “This prevented new blocks from being created.” 

An hour later, the sequencing of new blocks began syncing normally, though the network was still working on finding a root cause to the issue. 

Thursday’s outage is the first block production and deposit issue on the network’s mainnet in the last 90 days, according to its status page. However, in May, the network reported around 30 hours of withdrawal delays. 

A representative for Coinbase did not immediately respond to Decrypt’s request for comment.

The network is still undergoing its Beryl hardfork upgrade, which will implement a new token standard for stablecoins and tokenized real-world assets (RWAs) on the network, while reducing withdrawal delays. 

Though blockchain outages are not common, they have plagued networks from time to time, impacting network activity in the process. 

Earlier this year, layer-1 network Sui suffered an outage on three consecutive days following gas and validator bugs on its mainnet. Prominent layer-1 network Solana also has a history of major outages, though it hasn’t reported a mainnet issue since February 2024.

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Longs Bear the Brunt of a Brutal FlushAlmost $995 million in crypto derivatives positions were forcibly closed over 24 hours, according to CoinGlass data. The sweep hit 138,452 traders and underscored just how heavily leveraged the market had become heading into the selloff.

Leveraged bulls absorbed the majority of the damage. Of the $994.62M total, $704 million came from long positions, while short liquidations accounted for the remaining $290 million. The lopsided breakdown points to a market that had positioned aggressively for further upside before the move lower forced a rapid unwind.

Liquidations of this scale exert significant short-term pressure on prices by creating forced selling. When a wave hits, exchanges automatically close leveraged positions, adding sudden selling volume that can drive prices lower and trigger further liquidations in a feedback loop.

Bitcoin and Ethereum Lead the Damage$BTC led all assets with $478 million in liquidations, followed by $ETH at $225 million. The two largest cryptocurrencies by market cap accounted for the bulk of the losses, reflecting their dominance in the derivatives market.

The single largest forced exit of the period was a $38 million $BTC position on Hyperliquid. The decentralized perpetuals platform has increasingly become a venue for large-scale leveraged trades, making its liquidation data a closely watched signal across the industry.

The episode serves as a reminder of how quickly overleveraged markets can unwind. With longs outpacing shorts by more than two to one, the positioning ahead of the selloff left little room for error when price action turned.

Sources:
CoinGlass: Real-Time Crypto Liquidation Data
Crypto Briefing: 24-hour crypto liquidations reach $967M as leveraged longs get wiped out

For the past two cycles, Bitcoin DeFi has lived more as a promise than a category.

Programmable Bitcoin has remained a vision held by a certain breed of Bitcoin maxi who believes that the world’s largest cryptocurrency can become productive without losing its security or sound money qualities.

Yet the closure of Bitcoin scaling platform Botanix earlier this month has called that vision into question.

If a well-funded, technically ambitious Bitcoin layer-2 with live apps, integrations and competitive yields can’t attract enough usage to survive, does that mean Bitcoiners simply don’t care about decentralized finance?

Bitcoin DeFi remains a niche proposition in 2026, despite years of being touted as the next big thing.

DefiLlama’s dashboard shows just $4.12 billion of total value locked (TVL) across all of the Bitcoin DeFi protocols. That’s a rounding error next to Bitcoin’s $1.2 trillion market cap, and the hundreds of billions held via spot exchange-traded funds, corporate treasuries and custodial accounts.

Andre Dragosch, head of research Europe at Bitwise, told Cointelegraph, “Bitcoin is winning decisively as a monetary asset and as pristine collateral, but the case for Bitcoin as a standalone DeFi execution layer was always structurally weaker than the narrative suggested.”

Botanix closes after four yearsWhen Botanix announced it was winding down after nearly four years of work and a year of mainnet uptime, the team didn’t blame a hack or a regulatory shock; they blamed demand.

Botanix described a chain that “worked” in every technical sense: 25 million transactions, 200,000 wallets, and tens of millions of dollars in bridged funds, yet it never generated the fee volume needed to cover its infrastructure costs.

Users came for the yield, treated BTC as store-of-value collateral, and then largely stuck to passive, buy-and-hold strategies, rather than actively borrowing, trading, or moving funds often enough to generate meaningful fee volume.

Like most BTCFi stacks today, Botanix still requires users to bridge their Bitcoin into a tokenized version on a separate Ethereum Virtual Machine (EVM)-based chain before they can access DeFi. That introduces additional bridge and smart contract assumptions that worry many Bitcoiners.

Botanix’s shutdown notice. Source: Botanix

Even so, Botanix co-founder Willem Schroé told Cointelegraph that he wouldn’t have changed the core design. Despite Botanix offering what he described as “the best rates in the industry” and a more Bitcoin-aligned security model than typical wrapped BTC bridges, wrapped BTC on Ethereum still out-competed Botanix.

He attributed that to Ethereum’s “huge infrastructure network and Lindy effect,” as well as a mix of liquidity depth, user experience and regulatory comfort.

What Botanix learned about Bitcoin DeFiThe team concluded that Bitcoin is still viewed as a reserve asset rather than something that has programmable utility.

For most existing use cases like lending, leveraged exposure, or yield, a wrapped BTC position on a large, mature EVM ecosystem such as Ethereum is “genuinely sufficient” for most users. Rather than bridge into a Bitcoin-aligned EVM chain like Botanix, users preferred to stick with wBTC on venues where the liquidity, apps and integrations already exist.

Botanix also pointed to onchain activity consolidating around venues like Hyperliquid, and major centralized exchanges and retail-facing fintechs that “own the user relationship,” leaving independent infrastructure “rowing upstream” against convenience and branding.

Wilhelm said he hopes Botanix’s wind-down “will definitely be looked at by others,” and framed the process as a professionally managed experiment whose lessons other BTCFi builders should take seriously.

Bitcoiners, DeFi and wrapped BTCWhile estimates vary, only a small fraction of Bitcoin’s supply is currently productive in DeFi, and most of that sits in wrapped BTC products on Ethereum and its L2s like Base and Arbitrum, as well as Polygon, Solana and BNB Smart Chain. A smaller percentage is on “Bitcoin L2” chains, with Bitcoin-aligned L2s and sidechains accounting for a modest share of that activity by value.

Tokenized BTC products themselves represent just a sliver of the asset: A May 2026 analysis estimated that roughly $20 billion worth of BTC — less than 2% of the total Bitcoin supply — is circulating on EVM chains in wrapped form.

Total Value Locked (TVL) in Bitcoin DeFi. Source: DeFiLlama

An October 2025 GoMining survey of 730 Bitcoin holders found that 77% of respondents had never used a BTCFi platform, and only 3% integrated BTCFi into their overall Bitcoin strategy.

Even allowing for sample bias (these respondents were plugged-in, survey-answering BTC holders), the numbers show that BTCFi platforms that keep users in Bitcoin-aligned stacks remain a niche activity rather than a mass behavior.

Justin d’Anethan, head of research at crypto private markets advisory firm Arctic Digital, told Cointelegraph, “There is more liquidity and better yields on EVM or SVM [Solana Virtual Machine] native solutions than on BTC solutions, period.”

When clients ask about “putting their Bitcoin to work,” the practical routes, he said, are still centralized desks, exchanges lending out BTC at 2% to 4%, basis trade structures “à la Ethena,” or institutional credit pools like Maple.

He said the big obstacle for most Bitcoiners was the risk of bridging to a less secure Bitcoin L2. For “hardcore BTC maxis,” the default remains cold storage, HODLing and riding price appreciation, rather than trying to “eke out 2-3% with counterparty risk.”

Native BTCFi as a structural mismatchDragosch said Botanix’s failure suggested that demand for standalone Bitcoin DeFi execution layers was much weaker than their backers expected.

He argued that capital that “genuinely wants yield has migrated to wrapped BTC on mature, liquid venues rather than bridging into bespoke federations.”

In this view, the problem isn’t just that Bitcoiners haven’t “discovered” native DeFi yet; it’s that the architecture and user base are misaligned. Bitcoin’s base layer is slow, conservative and firmly anchored in the store-of-value narrative.

“Bitcoin as reserve collateral is the durable trade,” Dr. Dragosch said, “the next leg of adoption runs through institutions and balance sheets, not necessarily through onchain execution layers.”

77% of respondents have never used a BTCFi platform. Source: GoMining

Who is still building BTCFi, and for whom?Diego Gutierrez Zaldivar, chief executive of RootstockLabs, a Bitcoin-secured, EVM-compatible sidechain, doesn’t buy the idea that there’s “no demand” for Bitcoin-backed lending, yield products or broader BTCFi services.

He said the main constraint is trust: putting in place the operational, legal and risk management frameworks that institutions need.

More than 40% of all Bitcoin DeFi activity now runs through Rootstock, he said, including real-world asset settlements and institutional vaults. Over the past year, he said, funds have started asking to deposit hundreds or even thousands of BTC at a time into Rootstock-based products; flows that were almost unheard of two or three years ago.

Chains TVL. Source: DeFiLlama

Orkun Mahir Kılıç, co-founder of Chainway Labs, which is behind Citrea, a Bitcoin-anchored rollup combining the Bitcoin Virtual Machine (BVM) and zero-knowledge proofs, argued that cloning EVM DeFi primitives onto Bitcoin is a dead end, and said that Botanix’s experience is a verdict on that model, rather than BTCFi itself.

Orkun Mahir Kılıç is co-founder of Chainway Labs, behind Citrea, a Bitcoin-anchored rollup that keeps user assets inside Bitcoin’s security perimeter and proves its state with zero-knowledge proofs. He argued that cloning EVM DeFi primitives onto Bitcoin is a dead end, and said that Botanix’s experience is a verdict on that model, rather than BTCFi itself.

He told Cointelegraph that “more secure” doesn’t change most people’s behavior.

“People don’t price counterparty risk until something breaks,” he said. ”Where it matters” is for institutions and large holders that need trust-minimized transactions with no custodian to fail.

“For everyone else, the reason to be here isn’t the security guarantee in the abstract; it’s the applications that don’t exist elsewhere.”

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

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.

Ripple’s RLUSD stablecoin now has a larger circulating supply on the XRP Ledger compared to Ethereum. The XRPL’s lead comes as Ripple looks to expand in Japan with its RLUSD launch.

XRP Ledger Boasts The Largest Supply of Ripple’s RLUSD Based on the Ripple USD Tracker, around $801.79 million worth of RLUSD coins is active on the XRP Ledger. This figure is higher than the $795.59 million RLUSD on Ethereum. It is the first time that the XRP Ledger is in the lead for RLUSD supply among the two supported blockchains.

The surge in XRP Ledger’s RLUSD supply comes on the heels of Ripple revealing on June 25 that the RLUSD is now available in Japan via its partnership with SBI Holdings and crypto exchange SBI VC Trade. The launch will expand its partnership with SBI Group and facilitate cross-border payments, tokenization and collateral management, Ripple said.

Meanwhile, the information listed on the service overview page of SBI VC Trade suggests that the exchange’s currently supported networks include Ethereum. Moreover, it will add support for the XRP Ledger in the near future.

The update has garnered interest partly because plans are reportedly underway to integrate it natively with XRPL despite the fact that Ethereum infrastructure is still working almost perfectly today.

Ripple Senior Vice President of Stablecoins Jack McDonald also commented on the Japan launch. He said, “This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan.”

Meanwhile, Ripple added that RLUSD has received approval from Japan’s Financial Services Agency. Hence it will now function as a new category of electronic payment instrument under the country’s Payment Services Act.

Is Ethereum Losing Its Use Case For RLUSD? Today, XRP Ledger dUNL validator Vet wrote, “XRP Ledger has now more $RLUSD on chain than Ethereum. SBI VCTrade is integrating RLUSD on XRP.”

Vet argued that RLUSD is helping expand XRPL adoption among major financial platforms. “RLUSD has been a very strong door opener for the XRP Ledger,” he said. The validator then added that institutions seeking access to the stablecoin could frequently integrate XRPL infrastructure as well. According to Vet, this also makes it easier for other assets issued on the XRP Ledger to gain support.

XRP Ledger has now more $RLUSD on chain than Ethereum. SBI VCTrade is integrating RLUSD on XRP.

People get upset when they see the Ethereum integration and not XRP Ledger right from the get go. Let me explain what they are missing while we travel east 🇯🇵 :

1) RLUSD has been a… https://t.co/oJ31Z0i88f pic.twitter.com/21xfVdAccb

— Vet (@Vet_X0) June 25, 2026

Nonetheless, he also addressed questions over Ethereum’s initial role. Vet said, “Ethereum and especially ERC-20 tokens are very well integrated historically, even during the past SEC administration.”

He added that when new services launch on Ethereum first, “most likely the XRP Ledger integration is in the works.” Further, the validator explained that “things just take time and large organizations move very slow.” Meanwhile, SBI Group has also launched its JPYSC yen stablecoin on Ethereum.

Serenity: High-beta stocks typically fall first during broad market corrections, but also recover earlier.

Serenity issued a statement noting that global financial markets are currently undergoing a broad correction, with no clear end in sight. Major Asian stock indices are under broad pressure: South Korea’s KOSPI fell 8.18%, Japan’s Nikkei 225 dropped 4.8%, and Taiwan’s Weighted Index declined 3.82%. Meanwhile, high-growth stocks that had previously posted strong gains have also suffered severe losses, with individual names like SOI and RKLB logging cumulative declines of 30% to 40% recently. Per historical market patterns, high-beta stocks typically enter a correction phase ahead of the broader market and tend to see steeper drops, but they also often lead the rebound once the market stabilizes. Excluding South Korea’s inherently highly volatile market, a single-day decline of 3% to 4% in major indices usually signals a rapid cooling of market risk appetite, making the short-term market environment quite challenging.

23 minutes ago

Jiang Zhuoer: "AI bubble may burst once incremental funds dry up"

Jiang Zhuoer, founder of BTC.TOP (formerly LTC Pool), posted that liquidity in the US stock market is no longer sustainable. Just as the Bitcoin bull market ends when new inflows fail to support price rallies, the AI bubble will burst when new capital can’t sustain stock price gains. Initially, tech stocks rallied broadly, then only AI-related stocks advanced, and now only storage stocks are still rising—even AI leader Nvidia has started to decline.

23 minutes ago

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $691.7 million, while U.S. spot Ethereum ETFs posted a net outflow of $81.9 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs posted a net outflow of $691.7 million yesterday, while Ethereum ETFs saw a net outflow of $81.9 million.

23 minutes ago

The Nikkei 225 Index has seen its decline widen to 5%.

According to Bitget market data, the Nikkei 225 index has extended its decline to 5%, with SoftBank and chip stocks plummeting.

23 minutes ago

Serenity: High-beta stocks typically fall first during broad market corrections, but also recover earlier.

Serenity issued a statement noting that global financial markets are currently undergoing a broad correction, with no clear end in sight. Major Asian stock indices are under broad pressure: South Korea’s KOSPI fell 8.18%, Japan’s Nikkei 225 dropped 4.8%, and Taiwan’s Weighted Index declined 3.82%. Meanwhile, high-growth stocks that had previously posted strong gains have also suffered severe losses, with individual names like SOI and RKLB logging cumulative declines of 30% to 40% recently. Per historical market patterns, high-beta stocks typically enter a correction phase ahead of the broader market and tend to see steeper drops, but they also often lead the rebound once the market stabilizes. Excluding South Korea’s inherently highly volatile market, a single-day decline of 3% to 4% in major indices usually signals a rapid cooling of market risk appetite, making the short-term market environment quite challenging.

22 minutes ago

Jiang Zhuoer: "AI bubble may burst once incremental funds dry up"

Jiang Zhuoer, founder of BTC.TOP (formerly LTC Pool), posted that liquidity in the US stock market is no longer sustainable. Just as the Bitcoin bull market ends when new inflows fail to support price rallies, the AI bubble will burst when new capital can’t sustain stock price gains. Initially, tech stocks rallied broadly, then only AI-related stocks advanced, and now only storage stocks are still rising—even AI leader Nvidia has started to decline.

22 minutes ago

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $691.7 million, while U.S. spot Ethereum ETFs posted a net outflow of $81.9 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs posted a net outflow of $691.7 million yesterday, while Ethereum ETFs saw a net outflow of $81.9 million.

22 minutes ago

The Nikkei 225 Index has seen its decline widen to 5%.

According to Bitget market data, the Nikkei 225 index has extended its decline to 5%, with SoftBank and chip stocks plummeting.

22 minutes ago

Serenity: High-beta stocks typically fall first during broad market corrections, but also recover earlier.

Serenity issued a statement noting that global financial markets are currently undergoing a broad correction, with no clear end in sight. Major Asian stock indices are under broad pressure: South Korea’s KOSPI fell 8.18%, Japan’s Nikkei 225 dropped 4.8%, and Taiwan’s Weighted Index declined 3.82%. Meanwhile, high-growth stocks that had previously posted strong gains have also suffered severe losses, with individual names like SOI and RKLB logging cumulative declines of 30% to 40% recently. Per historical market patterns, high-beta stocks typically enter a correction phase ahead of the broader market and tend to see steeper drops, but they also often lead the rebound once the market stabilizes. Excluding South Korea’s inherently highly volatile market, a single-day decline of 3% to 4% in major indices usually signals a rapid cooling of market risk appetite, making the short-term market environment quite challenging.

22 minutes ago

SpaceX plans to roll out Starlink mobile services to the U.S. mass consumer market.

According to a report by the UK’s Financial Times, Elon Musk’s SpaceX plans to roll out Starlink mobile services to the U.S. mass consumer market.

22 minutes ago

BNP Paribas: Raises Micron's price target from $615 to $1700

BNP Paribas announced it has raised Micron Technology's price target from $615 to $1700.

22 minutes ago

Jiang Zhuoer: "AI bubble may burst once incremental funds dry up"

Jiang Zhuoer, founder of BTC.TOP (formerly LTC Pool), posted that liquidity in the US stock market is no longer sustainable. Just as the Bitcoin bull market ends when new inflows fail to support price rallies, the AI bubble will burst when new capital can’t sustain stock price gains. Initially, tech stocks rallied broadly, then only AI-related stocks advanced, and now only storage stocks are still rising—even AI leader Nvidia has started to decline.

22 minutes ago

The Nikkei 225 Index has seen its decline widen to 5%.

According to Bitget market data, the Nikkei 225 index has extended its decline to 5%, with SoftBank and chip stocks plummeting.

22 minutes ago

Micron hits a record earnings high, pulls back 9.6%; a major bullish whale is less than $15 away from liquidation.

According to Hyperinsight monitoring, Micron (MU) — which rallied on the back of record earnings — pulled back sharply amid risk-off sentiment triggered by higher-than-expected PCE inflation. It fell roughly 9.6% from its overnight high of ~$1,255, saw intraday flash crashes, and extended losses in after-hours trading. On Hyperliquid, MU is currently trading at $1,128, down 6.9% in 24 hours. On-chain whales remain heavily bearish, with total short positions standing at ~$95.24 million, 1.76 times the long positions ($54.24 million). In terms of entry costs, the average long position price is ~$958.74, while short positions average ~$972.94. The current price remains above both levels, meaning longs are in profit and shorts are deeply underwater. As prices fall, long liquidation pressure has surged. The nearest long liquidation threshold has dropped to ~$1,114.21, just ~2.9% below the current price. This long whale (0x9e2c) holds a 5,000 MU long position with 10x leverage, worth ~$5.6 million at an average entry price of $1,215, with a liquidation price of $1,114 — less than $15 away from the current price. By contrast, the nearest short liquidation threshold is at $1,427.77, roughly 24.4% above the current price, making it relatively safe. The largest short position was opened at $774.99 with 10x leverage, worth ~$15.92 million and currently sitting on an unrealized loss of $5.17 million. - The HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permissions) to automatically sync on-chain updates.

22 minutes ago

Sharplink ($SBET) has resumed buying Ethereum for the first time in eight months, picking up 5,000 $ETH worth $7.85 million on Thursday, according to onchain data cited by @EmberCN. The firm received the tokens from crypto prime broker FalconX, per Arkham Intelligence data.

The purchase breaks a buying pause stretching back to October 2025, when Sharplink made its previous acquisition of 19,270 ETH valued at $78.3 million. That gap of roughly eight months is notable for a company whose strategy is built around continuous ETH accumulation.

Where Sharplink's Treasury StandsSharplink held 876,285 $ETH as of June 21, valued at roughly $1.3 billion, according to its website. @EmberCN estimated the company's average acquisition cost at $3,609 per ETH, implying a significant unrealized loss at current market prices. Sharplink has not publicly confirmed the reported purchase.

The firm remains the second-largest public ETH treasury company, behind Bitmine Immersion. It is also set to join the Russell 2000 and Russell 3000 indexes effective June 29, following FTSE Russell's semi-annual reconstitution, a move the company said would broaden its institutional shareholder base.

Fresh Capital in Place for More AccumulationThe timing of the purchase aligns with a fresh capital raise. Sharplink closed a $75 million registered direct offering on June 23, selling shares at a 41% premium to its June 18 closing price. The company stated that proceeds would be used partly to expand its Ethereum holdings, alongside stock buybacks and working capital.

In Q1 2026, Sharplink reported revenue of $12.1 million, up sharply from $0.7 million a year earlier, driven by its Ethereum staking program. A $506.7 million unrealized loss on its ETH holdings during the quarter contributed to a net loss of $685.6 million, reflecting the sensitivity of its model to crypto market prices.

Thursday's purchase, while modest relative to prior tranches, signals that Sharplink is once again actively deploying capital into $ETH, potentially using proceeds from its recent equity raise.

Sources:
The Block: Sharplink buys Ethereum for first time in 8 months
GlobeNewswire: Sharplink $75 Million Registered Direct Offering
GlobeNewswire: Sharplink to Join the Russell 2000 and 3000 Indexes

Bitcoin has fallen below $60,000, triggering a wave of liquidations that exceeded $1 billion across the crypto market.

Notable Statistics:

Coinglass data shows 148,895 traders were liquidated in the past 24 hours for $1.08 billion.        SoSoValue data shows net outflows of $469.08 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $30.2 million. In the past 24 hours, top losers include MemeCore, Mantle and Pump.fun. Notable Developments:

Trader Notes:

Trader Jelle warned that Bitcoin is approaching a key technical level, saying, "Bears are knocking on a door bulls would rather not see opened," suggesting that a break below current support could trigger further downside pressure for BTC.

Luke Martin noted that Bitcoin has historically turned the previous cycle’s peak into support during the following bull market, a pattern seen since the 2013 top around $150–$200, which became the 2015 bear-market floor.

He said the current retest feels different because of concerns surrounding Michael Saylor and Strategy, leaving the market at a critical “sink or swim” moment.

Byzantine General said Bitcoin’s drop to $58,000 swept liquidity and triggered a wave of long liquidations while attracting fresh short positions. He added that a daily close above $60,000 would likely confirm that BTC established a local bottom.

Image: Shutterstock

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Dogecoin, one of the leading meme cryptocurrencies, dropped below the $0.075 threshold amid widespread selling pressure across the crypto market. Short-term charts revealed a significant spike in trading volume, indicating that the latest decline was driven by direct sell-offs rather than illiquid market conditions.

Short-term selling pressure increasesOn the 30-minute chart, DOGE lost over 5% of its value, slipping to approximately $0.0748. After losing its foothold above the key $0.080 support, the price moved sideways before a fresh wave of selling accelerated its downward trajectory. The most recent red candle was marked by one of the highest volume surges on the chart, signaling that the downswing was predominantly fueled by active selling rather than a lack of liquidity. The simultaneous formation of lower highs and lower lows reflected continued weakness in the short-term technical outlook.

The volume-backed downward break reinforced sellers’ control in the short term, making the $0.075 mark the critical threshold buyers need to reclaim to regain momentum.

The analysis notes that as long as Dogecoin remains below $0.075, sellers are likely to continue testing the $0.074 region. If the weakness persists, lower support zones may come into play, though these levels are not clearly visible on short-term charts. Conversely, any quick rebound above $0.075 could help ease immediate downward pressure. For a more convincing shift in momentum, a sustained move above the $0.078 to $0.080 range would be required.

$0.074 emerges as a pivotal supportOn broader timeframes, Dogecoin is now defending a historically significant support zone following steep declines. The four-hour chart shows DOGE briefly dipping towards $0.0741 before recovering to trade near $0.0753. This range is being watched as the dividing line between a potential rebound and a continuation of the downward trend.

Launched in 2013, Dogecoin is well-known for its massive community influence, especially through social media. Analyst Carlos Garcia Tapia warned that there is a price gap below $0.073, representing an area lacking nearby support.

Glossary: A price gap refers to an area where there is limited support or resistance above or below a certain level, increasing the chance of accelerated price movement if that area is breached.

According to Carlos Garcia Tapia, limited support below the $0.073 level increases the risk of a rapid and deeper drop if this threshold is lost.

However, maintaining support above $0.074 could pave the way for a potential recovery. The first key resistance in a rebound scenario appears at $0.0803 on the 12-hour chart. Stronger upward moves would then target the $0.085, $0.0876, and $0.0909 levels respectively.

LevelSignificance$0.075First threshold buyers must reclaim in the short term$0.074Main support area$0.073Level where the risk of accelerated declines increases if lost$0.0803First major resistance in a recoveryOverall, the trend remains bearish, as Dogecoin is still trading below its descending resistance band. For now, any move higher towards the $0.0803–$0.085 range is likely to be interpreted as a limited rebound, unless these resistance levels are decisively broken.

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.

The Cardano Foundation has formed a two year strategic partnership with SENAI São Paulo, one of Brazil’s leading networks for industrial education and technology, aiming to advance blockchain education, foster research initiatives, and promote real world enterprise adoption of blockchain technology.

Industrial focus drives blockchain trainingBoth organizations emphasized that their collaboration goes far beyond traditional education programs, targeting the broader integration of blockchain technology within Brazil’s industrial ecosystem. Key areas include workforce development, collaborative research, and deployment of practical use cases, signaling Cardano’s ongoing expansion into sectors beyond cryptocurrency.

SENAI São Paulo is renowned across Brazil for its technical training and applied research geared towards industry. By joining forces, the Cardano Foundation brings its blockchain expertise together with SENAI’s well-established education and research infrastructure.

The cooperation launched with a two week technical training program, where Cardano specialists offered hands-on sessions for SENAI educators and research professionals. The curriculum covered blockchain architecture, smart contracts, metadata standards, and industrial applications.

Guilherme Pereira da Silva, Cardano Foundation’s LATAM Ecosystem Growth Specialist, highlighted that the engineers destined to transform Brazil’s manufacturing sector are now present in SENAI’s classrooms, with the foundation dedicated to embedding Cardano at the heart of this training.

130 professionals to join the initial phaseAccording to information provided by both institutions, 130 professionals from SENAI’s training and research divisions are expected to participate in the program’s first stage. The primary goal is to build a qualified talent pool to help companies implement blockchain solutions effectively.

The program extends beyond theory, focusing on delivering solutions applicable in industrial settings. Key application areas include logistics, production tracking, regulatory compliance, and quality assurance systems, all enhanced by blockchain technology.

Supply chain traceability and digital product passports prioritizedThe partnership also spotlights research on blockchain based traceability systems and industrial digital product passports. As manufacturers across the globe seek greater transparency and verifiable supply chains, these topics are rapidly gaining significance on a global scale.

Glossary: A digital product passport is a digital record structure that tracks essential information about a product from manufacturing and supply chain through to its full lifecycle. SDK stands for software development kit. An API is an application interface that allows different software systems to exchange data.

Given Brazil’s status as the largest manufacturing hub in Latin America, this initiative has particular significance. Training educators, researchers, and the next generation of engineers is expected to accelerate the industrial adoption of blockchain based solutions.

Roadmap includes certifications and pilot projectsOver the next two years, the roadmap features certification programs, blockchain courses for students via Cardano Academy, specialized training for industry managers, and masterclasses targeting enterprise needs. The partners also plan to develop proof of concept projects, testing blockchain solutions under real industrial conditions.

Looking ahead, jointly developed innovation programs, technical workshops, software development kits, and customized application interfaces for enterprise users may be added. Emerson Costa of SENAI-SP emphasized that bringing talent development together with real world industrial challenges could strengthen Brazil’s competitiveness.

Emerson Costa of SENAI-SP stressed that integrating talent development with actual industrial issues will help drive Brazil’s technological transformation and enhance its global competitiveness.

This agreement comes at a time when blockchain networks are seeking broader real world uses beyond cryptocurrency trading and decentralized finance. For Cardano, the partnership is set to boost its visibility within one of Latin America’s largest industrial education networks. While immediate market impact may be limited, the initiative is seen as a significant step toward long term industrial adoption of blockchain technology.

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.

TLDR: The SecondFi exploit drained 374 Cardano wallets across four attack events between June 21–23, 2026. Approximately 16 million ADA worth $2.4M was stolen by two identified attackers across three automated waves. Emergency rescue efforts secured around 129 million ADA, with a dedicated restoration fund already established. Affected wallets are permanently compromised; users must avoid independent seed phrase restoration or asset migration.
Cardano’s largest wallet provider, SecondFi, suffered a major security breach between June 21 and 23, 2026. The SecondFi exploit drained funds from 374 wallet addresses across four separate attack events.

Approximately 16 million ADA, valued at around $2.4 million, was compromised. EMURGO, a co-founding entity of Cardano, has since stepped forward with a formal incident update, outlining recovery measures and committing to full reimbursement for all affected users.

Attack Scope and Attacker Identification The SecondFi exploit unfolded in three automated waves, each targeting multiple wallets in rapid succession. Forensic analysis identified two distinct threat actors responsible for the breach. Attacker A operated across Waves 1 and 2, draining 171 wallets through coordinated automated batches.

SecondFi publicly disclosed the attacker addresses for full community transparency. Attacker A used three collection wallets and a central fee address, all linked to a single stake key. Attacker B operated independently in Wave 3, sweeping 203 additional wallets in a separate automated run.

According to SecondFi’s post on X, over 4 million ADA linked to Attacker B remains in one flagged collection address.

We aim to provide the latest update on our investigation into the exploit

As mentioned in our previous post, between June 21–23, 2026, a sophisticated, automated attack drained funds from multiple Cardano wallets. We now have identified and isolated the addresses of 2 attackers.…

— SecondFi (@secondfiapp) June 25, 2026

That address is currently under active monitoring and investigation by the team. Law enforcement and relevant authorities have been notified as part of the formal incident response.

The speed and coordination of the attack pointed to a premeditated, multi-actor operation. Security analysts described it as a highly sophisticated enterprise rather than an opportunistic breach.

Emergency Response and Asset Recovery Following the initial discovery on June 22nd, SecondFi activated emergency response protocols immediately. Engineering teams isolated the exploit vector and deployed remediation measures to prevent further exposure. The platform was moved into maintenance mode as a containment step.

A leading external security firm, along with additional independent partners, was brought in to conduct a full code-level audit.

SecondFi confirmed it will not resume normal operations until those reviews are complete. That position reflects a deliberate effort to prioritize user safety over operational speed.

Through emergency rescue measures, SecondFi successfully secured approximately 129 million ADA as part of broader containment efforts.

All recovered assets are currently held securely while the recovery process continues. A dedicated restoration fund has already been established to support reimbursement.

EMURGO confirmed in its statement that wallet address mapping has been completed, allowing recovery to move into the next phase. Affected users will receive direct guidance through official channels on the steps required to safely restore access.

Critical Warnings for Affected Users SecondFi issued a firm security warning to all affected wallet holders following the breach. Compromised wallets must be treated as permanently compromised at the address and private key level. Simply restoring a seed phrase in another wallet application will not eliminate the security risk.

Users are strongly advised not to independently move assets or attempt to migrate compromised wallets on their own.

Taking unilateral action could expose them to further loss or secondary exploits. The official recovery process is the only safe path forward for affected accounts.

SecondFi and EMURGO confirmed that a structured, verification-based claim process is being developed. While that process may take additional time, it is designed to ensure accuracy and security throughout. Affected users are directed to follow @secondfiapp on X for all official updates.

The incident drew a coordinated response from across the Cardano ecosystem. Founding entities, partners, and community members mobilized quickly to support containment efforts. That collective response helped limit broader network risk during a critical period.

Cardano (ADA) has entered one of its most difficult periods of the current market cycle. The asset recently dropped to a new 2026 low of $0.15, reflecting broader weakness across altcoins as investors move capital toward sectors offering stronger growth narratives and higher participation levels.

The decline comes despite continued development activity inside the Cardano ecosystem. However, traders appear more focused on immediate utility and active user engagement than future upgrades.

That shift helps explain why newer AI-powered memecoins such as MemeToro ($MT) are attracting attention while Cardano struggles to regain momentum.

Cardano (ADA) Hits 2026 Lows Despite Major Development Efforts The fact that Cardano (ADA) hits 2026 lows at $0.15 has surprised many long-term supporters.

The network recently launched its Leios scaling testnet, one of the most significant technical upgrades in its roadmap. The initiative aims to improve throughput dramatically and strengthen network performance over time.

Despite this progress, the market response has remained muted.

Investors appear reluctant to price in future improvements before they reach full implementation. As a result, Cardano continues trading below key moving averages while broader market sentiment remains weak.

Technical models suggest a small relief rally toward $0.157 may be possible. However, analysts continue monitoring the $0.168 region closely because failure to reclaim that level could expose ADA to additional downside pressure.

The situation highlights an important reality in today’s market. Development alone is no longer enough to drive demand.

Reason One: Investors Want Immediate Utility One reason Cardano (ADA) hits 2026 lows while newer projects gain attention is the market’s growing focus on active utility.

Investors increasingly favor ecosystems that offer participation opportunities today rather than potential benefits years down the road. In uncertain market conditions, users often gravitate toward platforms where they can immediately engage, earn rewards, or access services.

This trend is becoming visible across multiple sectors. Projects offering prediction markets, AI-powered tools, staking systems, and social participation models are generating more attention than passive ecosystems waiting for future catalysts.

The shift does not diminish Cardano’s technology. However, it helps explain why capital is moving elsewhere.

Reason Two: AI Narratives Are Capturing More Attention Artificial intelligence has become one of the strongest narratives across crypto markets.

Investors continue searching for projects positioned around automation, predictive systems, autonomous participation, and machine-driven insights. These themes are attracting visibility even during broader market weakness.

Cardano remains primarily associated with smart contracts and network scalability.

MemeToro, by contrast, sits directly inside the AI narrative. Its ecosystem is built around behavioral finance, social participation, and automated trend discovery.

As investors search for exposure to emerging sectors, AI-focused platforms often receive more attention than traditional layer-one networks.

That difference has become increasingly visible throughout 2026.

Reason Three: MemeToro Focuses on Participation Another key difference is user engagement.

MemeToro was designed around continuous ecosystem activity. Rather than encouraging passive ownership, the platform gives users multiple ways to interact with its products and services.

The project operates as a SocialFi ecosystem on BNB Chain and combines several participation layers inside a single environment.

This structure creates recurring activity rather than relying on long-term development milestones alone.

For many investors, that distinction has become increasingly important.

Exploring the MemeToro Ecosystem MemeToro combines artificial intelligence with community-driven participation.

Users can create memecoins through an automated no-code deployment platform, removing technical barriers that often prevent broader adoption. The ecosystem also includes decentralized prediction markets where participants can use $MT and BNB to forecast outcomes across crypto, entertainment, sports, and current events.

Additional functionality comes through staking.

The platform offers rewards of up to 35% APR while encouraging long-term engagement inside the ecosystem. Alongside these products, users gain access to integrated market intelligence tools designed to monitor developing trends and narratives.

The native $MT token connects every feature within the platform.

MemeToro Continues Building Momentum While Cardano (ADA) hits 2026 lows, MemeToro continues expanding its community.

The project’s Stage 2 presale has surpassed 92% completion and raised more than $72,955 toward its funding target. Once the current round closes, the token price increases from $0.00139 to $0.00154.

The supply model is also designed around community ownership. Only 1.2 billion tokens will exist, with 71% allocated directly to presale participants and no vesting restrictions attached.

Final Thoughts The fact that Cardano (ADA) hits 2026 lows despite launching important upgrades shows how dramatically investor priorities have changed. Markets increasingly reward immediate utility, active participation, and exposure to growing narratives such as artificial intelligence.

MemeToro is benefiting from those trends. Through AI-powered memecoin creation, decentralized prediction markets, staking rewards, and SocialFi participation, the platform offers a different type of crypto experience than traditional layer-one networks.

As investors continue evaluating opportunities in 2026, that distinction may remain an important factor shaping capital flows across the market.

More Information on MemeToro ($MT) Presale Here:

Website: https://memetoro.com/

X: https://x.com/memetoro_mt

Telegram: https://t.me/memetoro_mt

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

SecondFi, one of the key wallet providers in the Cardano ecosystem, has confirmed that a sophisticated security breach between June 21 and June 23, 2026, affected a total of 374 wallet addresses. The incident resulted in the theft of approximately 16 million ADA, which equates to about $2.4 million at current valuations. EMURGO, one of Cardano’s founding organizations, responded by announcing an official compensation process, stating its intent to fully reimburse all users impacted by the breach.

Scope of the attack and identification of addressesAccording to company reports, the attack unfolded in four separate incidents across three automated phases. Forensic investigations traced the activity back to two distinct perpetrators. The first attacker targeted 171 wallets during the initial two waves, executing their operations in a coordinated, automated manner. The second attacker acted independently in the third phase, draining an additional 203 wallets.

SecondFi, sharing its latest update on the ongoing inquiry, reported that funds were illicitly withdrawn from numerous Cardano wallets between June 21 and June 23, 2026, via a highly coordinated and automated attack. The company confirmed that addresses associated with both attackers have been identified and isolated.

For transparency, SecondFi made the associated addresses of the attackers public. The company noted that the first attacker operated three aggregation wallets and a single central fee address, all linked via the same staking key. SecondFi further reported that a flagged wallet associated with the second attacker currently holds more than 4 million ADA, and this address remains under surveillance.

Mini glossary: A staking key in the Cardano network can link multiple addresses under a single staking identity. This structure can leave significant traces in on-chain analysis, enabling investigators to establish connections between different addresses.

TitleDataNumber of affected wallets374Total amount stolen16 million ADAWallets linked to first attacker171Wallets linked to second attacker203Funds remaining in flagged addressOver 4 million ADAThe company also reported that law enforcement and relevant authorities have been notified as part of the official response process. Security analysts noted that the speed and coordination of the attack point to a premeditated and multi-actor operation.

Emergency response and reimbursement processFollowing the initial detection of the breach on June 22, SecondFi activated emergency response protocols. Engineering teams quickly isolated the attack vector and implemented fixes to prevent further losses. The platform was put into maintenance mode as an added precautionary measure.

SecondFi also brought in an external security firm and independent partners to conduct a thorough code-level review. The company clarified that normal operations would not resume until these assessments are completed. According to SecondFi, this strategy ensures that user safety is prioritized over operational speed.

EMURGO reported that the mapping of affected wallet addresses has been completed and that the recovery process has advanced to the next stage. Users impacted by the breach will receive direct guidance through official channels.

As part of the emergency recovery efforts, approximately 129 million ADA have been secured. The company has stated that recovered assets are being held safely, and a dedicated restoration fund has been established to manage reimbursements.

Critical warnings for affected usersSecondFi and EMURGO emphasized that the compromised wallets should now be considered permanently at risk at the address and private key level. Importing a compromised seed phrase into another wallet does not resolve the underlying security issue.

Users have been urged not to independently transfer their assets or attempt to move funds from vulnerable wallets on their own, as such actions could increase the risk of further losses or exploitation. The companies advised that users should only follow the official recovery process to ensure security.

Both organizations have also reported working on a structured, verification-based claims mechanism. While the process may take some time, it is seen as essential to maintain integrity and user protection. Leaders in the Cardano community and partner organizations have also stepped in to support containment efforts in the aftermath of the breach.

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.

SecondFi Reports Progress on Cardano Wallet Attack, Identifies 2 Attackers

Cardano wallet service provider SecondFi issued an update on the recent theft incident, stating that addresses associated with two attackers have been identified. SecondFi said that between June 21 and 23, a sophisticated automated attack stole funds from hundreds of Cardano wallets in three waves: Attacker A drained 171 wallets in two batch operations, and Attacker B drained 203 wallets in a third wave. SecondFi released multiple sets of collection addresses and the two attackers' stake keys, noting that approximately 4.02 million ADA remains in a designated address controlled by Attacker B, which has now been flagged and is under on-chain monitoring. The project team said it is continuing to track the movement of related assets in cooperation with law enforcement and Cardano ecosystem partners.

USDC Treasury Mints an Additional 250 Million USDC on Solana

At 20:12 Beijing time, USDC Treasury minted an additional 250 million USDC on the Solana chain.

US Core PCE Annual Rate Edges Up to 3.4%, Matching Market Expectations

The US core PCE price index annual rate for May came in at 3.4%, matching market expectations and marking the highest reading since October 2023. The final reading for US Q1 real GDP annualized quarterly rate was 2.1%, compared to an expected 1.60% and a prior reading of 1.60%.

Spark and Uniswap Co-Build Stablecoin “FX Layer”, Migrating $150 Million in USDS as Base Liquidity

Spark and Uniswap have partnered to launch the stablecoin “FX Layer” on Uniswap v4, aiming to provide low-slippage dollar stablecoin exchange infrastructure for institutions. Acting as a shared liquidity and settlement system, the layer allows stablecoin issuers such as banks, fintechs, and payment companies to plug into a unified pool without having to build their own market-making and inventory management systems. Spark handles liquidity allocation and governance coordination among different stablecoins, while Uniswap provides the programmable AMM architecture. As a launch initiative, Spark will migrate $150 million in liquidity from its USDS ecosystem to Uniswap v4, establishing a “liquidity base” for pools supporting USDS, USDT, and PYUSD. USDS is a US dollar stablecoin issued by Sky (formerly MakerDAO), ranking as the third-largest stablecoin after USDT and USDC.

Micron Technology Extends Early Gains to Over 19%, Market Cap Surpasses Meta for First Time

According to Bybit data, Micron Technology (MU.O) extended its early trading gain to over 19.0%, pushing its market capitalization past Meta Platforms (META.O) for the first time, after its previously released earnings outlook exceeded expectations.

Strategy Share Price Falls Below $90, STRC Tumbles Below $76 Intraday

US stock market data shows that Strategy’s share price fell below $90, touching that level for the first time since February 2024. Strategy’s preferred shares STRC fell below $76 intraday, down 24% from the $100 face value, marking the lowest closing price since listing.

MAS Establishes “Future Finance Institute”, Initial Focus on AI and Tokenization

The Monetary Authority of Singapore (MAS) announced the establishment of the “Future Finance Institute (FFI)”, with a focus on driving large-scale adoption of artificial intelligence (AI) and asset tokenization in the financial industry and accelerating fintech innovation. The FFI will integrate MAS’s existing projects, including the AI risk management toolkit, Project Guardian, and Project Orchid, helping financial institutions move from proof-of-concept to actual deployment and lowering barriers to technology adoption. The institute will provide four core capabilities: a knowledge hub, an innovation collaboration platform, an industry sandbox, and implementation toolkits. It also plans to launch programmable compliance tools and an upgraded AI risk framework to support the secure rollout of tokenized assets and agentic AI. The FFI’s governance structure and detailed strategy are expected to be announced later in 2026.

DeepSeek Posts Job Ads: Striving to Double the Size of All Departments

DeepSeek released recruitment ads stating that as technology evolves, the company is working to at least double the size of all departments. Open positions include: server-side development engineer, pre-training data engineer, AI search algorithm/architecture engineer, Agent Harness team roles, Agent Infra R&D engineer, front-end/client development engineer, AI cross-disciplinary technical talent, and more.

Kraken Parent Company Sues Derivatives Platform PowerTrade, Alleging “Misappropriation” of $7.2 Million

Kraken parent company Payward has applied in a US federal court for discovery against crypto derivatives platform PowerTrade and its co-founders, accusing them of “misappropriating” approximately $7.2 million in digital assets and unrealized gains. The complaint alleges that PowerTrade unilaterally executed roughly 100 “correction” trades, retroactively canceling profitable positions that had expired or settled months earlier, turning Payward’s account balance from over $6 million positive to nearly $2 million negative on PowerTrade, and then attempted to seize its Bitcoin collateral based on that balance. Payward has obtained a worldwide asset freezing order from the Dubai International Financial Centre Courts and initiated further legal proceedings in multiple jurisdictions.

Nvidia’s Jensen Huang: AI Factories and Token Economy Will Support Long-Term Computing Investment

Nvidia founder and CEO Jensen Huang stated at the 2026 shareholder meeting that AI is not a short-term technology fad, but rather a transformation of data centers from information storage depots into “AI factories” that produce digital intelligence. He said “useful AI is here and it is profitable,” and that tokens are becoming quantifiable, profitable units of production—“every token is a unit of profit.” AI infrastructure building will enter a long-term cycle measured in decades. Huang emphasized that Blackwell already has an advantage in the inference phase, and Vera Rubin is positioned as an AI factory platform for agents. CUDA and its full-stack ecosystem form Nvidia’s core moat. The company will continue to increase R&D investment while planning to return more than 50% of free cash flow to shareholders over the long term.

Paxos-Issued Compliant Gold Token PAXG Launches on Solana Mainnet

The gold token PAXG issued by Paxos has gone live on the Solana mainnet via the Sunrise protocol, becoming the first gold token regulated by the US Office of the Comptroller of the Currency (OCC) and available within the Solana ecosystem.

Bitcoin Plunge Triggers Nearly $600 Million in Long Liquidations Across the Network

In the past hour, liquidations across crypto contract markets hit roughly $635 million — about $597 million in longs and $38.16 million in shorts, with longs accounting for ≈94% of the total. By exchange, Binance saw roughly $279 million in liquidations, Hyperliquid around $185 million, and Bybit about $80.6 million, all primarily driven by forced long liquidations. By token, BTC recorded approximately $329 million in liquidations over the past hour, ETH around $140 million, while XRP, SOL, HYPE and others also suffered millions of dollars in liquidations. Over the past 24 hours, cumulative network-wide liquidations reached about $1.457 billion, with roughly 215,700 traders forcibly closed, predominantly from long positions.

Story Rebrands to DATA Foundation, Native IP Token to Migrate 1:1 to New DATA Token

Story, originally focused on on-chain intellectual property infrastructure, has been renamed DATA Foundation, shifting its business focus to AI training data and launching an on-chain data registration and audit platform called Trace. DATA also announced deep integration with the AI training data marketplace Kled, connecting over 1.5 billion user-contributed data records to the DATA network. Through Trace, every data contribution generates an on-chain receipt recording data source, authorization method, contributor consent and payment information, supporting settlements to contributors in stablecoins or fiat. The Story native IP token will migrate 1:1 to the new DATA token; holders do not need to take any action, with specific timing and guidance to be announced later. Major clients are AI labs and enterprises building self-developed models, with Poseidon responsible for dataset verification and scoring.

Coinbase to List Cap (CAP)

Coinbase announced it will add support for Cap (CAP). However, actual CAP deposits are not yet open; on-chain transfers in will only be possible after the asset issuer lifts transfer restrictions.

New Wallet Withdraws 14.9K ETH Worth $23.5M from WhiteBit

A newly created wallet withdrew 14,944 ETH, valued at $23.5 million, from WhiteBit.

Strategy's STRC Plunges 26% Below Par, MSTR Price Hits 16-Month Low

Strategy's perpetual preferred stock STRC fell to an all-time low of $74 on Thursday, a 26% discount to its $100 face value, before recovering slightly to $75.69. MSTR broke below $87, its lowest since February 2024, shedding over 50% in the past month or so. STRC is Strategy's main financing vehicle for recent Bitcoin accumulation. Strive's perpetual preferred stock SATA also fell to a near all-time low of around $84 on Thursday.

Whale Withdraws 222.5K HYPE from Coinbase, Another Receives 45K HYPE from FalconX

Two whales are accumulating HYPE. The new wallet "0x66F" withdrew 222,493 HYPE ($14.4 million) from Coinbase. Whale "0x643" received 44,986 HYPE ($2.87 million) and 860.8 ETH ($1.35 million) from FalconX, currently holding 152,986 HYPE ($9.86 million) and 9,311 ETH ($14.58 million).

Sophon Shuts Down Its L2 Blockchain, Pivots to Building Consumer Apps on Base

Sophon, which has raised $70 million, is shutting down its Layer 2 blockchain and pivoting to Base to build consumer applications, claiming that the infrastructure era for crypto is over. Co-founder Sebastien (Seb) stated that maintaining the blockchain costs the team about $3.4 million per year, and shutting it down will save roughly $3 million annually, directing capital straight into application development. The role of the SOPH token will shift from an on-chain gas token to a direct value accrual tool from product revenue; the team will use product revenue to buy back and burn SOPH on the open market, directly tying token value to the product’s commercial success. Sophon plans to build five consumer apps on Base: Pyre, launching next month, is a gamified DeFi financial app where users can play games to win rewards on every payment exceeding $1, while offering DeFi yield vaults, tokenized stock trading, leveraged perpetual futures, and prediction markets. SophEarn, launching at the same time, is a standalone version of Pyre's vaults. SophPlay will launch in Q3, opening Pyre's gamification technology to developers via API. XP.app, a payment product targeting high-net-worth users, is expected in Q3 or Q4. SophAI is under development and expected to enter alpha testing later this year.

Base Mainnet Suffers Outage Early Morning Due to Abnormal Block, Now Restored

Base disclosed at 00:27 Beijing time on June 26 that its mainnet was interrupted due to a block production issue. The team confirmed the problem was caused by an abnormal block interfering with subsequent block building and that all funds are safe. At 1:53, the team announced that new block sequencing had been restored and internal nodes are syncing normally; teams running validating nodes need to restart their Base nodes to resume syncing. At 3:22, the team announced that block production has returned to normal, with various applications and infrastructure gradually coming back online as nodes restart. The team has identified the root cause of the outage and will prioritize releasing a full post-mortem report. Additionally, The Block reported that the outage occurred on the same day as the planned Beryl upgrade scheduled for 02:00 Beijing time on June 26, but is reportedly unrelated to the scheduled maintenance.

Multicoin: As Hyperliquid Transforms Into a "Universal Exchange," HYPE Could Reach $319 by 2028

Multicoin released a report stating that Hyperliquid is evolving from a decentralized perpetual exchange into a "universal exchange," and its native token HYPE, currently priced at about $63, is severely undervalued by the market. Multicoin gives a base-case 2028 target price of $319 for HYPE, anticipating Hyperliquid’s annualized revenue will be around $8 billion by then, calculated using a 20x price-to-earnings multiple. Multicoin disclosed it has been actively buying HYPE since February, and it is now one of the largest positions in its liquid hedge fund. The report noted that HYPE recently surged above $76 on factors like new ETF inflows, strong revenue, and a buyback program, before retreating with the broader market to $62.47. Hyperliquid has grown its users from about 300,000 to 923,000 in 2025, open interest from $2 billion to $6 billion, with annualized revenue of approximately $873 million and processed trading volume of $2.9 trillion. Multicoin notes that its target price does not yet fully incorporate catalysts such as HIP-4 and HyperEVM. Hyperion DeFi CEO Hyunsu Jung compared Hyperliquid's fully diluted valuation (once close to $75 billion) with the market capitalizations of exchange stocks like CME, Interactive Brokers, and Robinhood, suggesting Hyperliquid is transcending the positioning of a mere perpetual exchange.

Invesco Files with SEC to Launch New Money Market Fund Focused on Stablecoin Reserves

Invesco, with $2.45 trillion in assets under management, has filed an application with the SEC to launch a new money market fund focused on stablecoin reserves, the Invesco Stablecoin Reserves Onchain Fund. The fund will primarily invest in U.S. Treasury securities, repurchase agreements, and cash equivalents to maintain a $1 net asset value. It will use blockchain infrastructure company Superstate as a sub-transfer agent to tokenize fund shares on designated public blockchains. The product is designed to meet the reserve management needs of stablecoin issuers, allowing them to earn yield while holding compliant reserves and maintaining daily liquidity.

Senate Pushes to Advance Crypto Legislation in July, but Chaos Over Housing Bill May Disrupt the Legislative Timetable

The U.S. Senate is facing a tight schedule to advance the Clarity Act crypto market structure legislation in July, but the calendar is already crowded with priorities such as the National Defense Authorization Act and the Farm Bill. Senator Cynthia Lummis said she plans to push for a vote after releasing the bill text on July 4, with Senate aides describing the Clarity Act as a top bipartisan priority for July. However, several disputes remain unresolved. Key negotiator Senator Angela Alsobrooks stated she would not support a version lacking ethics and illicit finance provisions, but believes all parties are “close” to a deal. If it fails to pass in July, the window may close before the August recess, and industry figures worry the legislative opportunity could be postponed to the lame-duck session after the November elections. Blockchain Association CEO Summer Mersinger believes the current disputes are “serious but resolvable,” and a July vote is “absolutely achievable”; Digital Chamber CEO Cody Carbone also said “the market structure bill is still within reach.” Trump’s refusal on Wednesday to sign the housing bill has added to uncertainty, with industry sources saying “trust levels remain quite low.” If it fails to pass this year, the bill will restart in the new Congress in January.

Aave Founder Responds to Payward Acquisition Report: AAVE “Will Not Be Sold at a 70% Discount”

In response to a CoinDesk report claiming that Kraken’s parent company Payward is in talks to acquire a 15% stake in the Aave protocol at a $385 million valuation (equivalent to only 30% of AAVE token’s FDV), Aave founder Stani Kulechov posted on X saying: “We would never sell AAVE at a 70% discount,” and pointed out that CoinDesk’s reporting was inaccurate. Kulechov stated that the Aave protocol generates $134 million in annualized revenue, all of which currently flows to the Aave DAO. However, he did not completely deny that Aave Labs might sell part of its AAVE holdings, saying multiple market participants have discussed buying directly or indirectly through deeper long-term partnerships.

BitGo Announces Nearly 15% Layoffs, Focusing on Core Businesses Like Stablecoins and AI Infrastructure

BitGo CEO Mike Belshe posted on X announcing that the company has laid off nearly 15% of its employees, and affected staff have been directly notified by their immediate supervisors and HR. Belshe said the crypto ecosystem has undergone profound changes and the way financial services are built has evolved significantly. To remain competitive, the company needs to focus its people and resources more on core areas such as security, trading, stablecoins, settlement, and AI-driven infrastructure, making BitGo’s operations more focused. Belshe emphasized this is a one-time adjustment, does not expect further layoff plans, and expressed gratitude for the contributions of departing employees.

Former Mobile Giant BlackBerry Has Transformed into a Software Layer Provider for AI and Robotics Ecosystems

Once known for its physical keyboard phones, BlackBerry has quietly transformed into a key software layer provider for “physical AI” and robotics ecosystems. Its QNX software framework, described as the “never-crashing” nervous system for autonomous machines, provides chipmakers like Nvidia and AMD with a safe, reliable, deterministic real-time operating system for smart vehicles and warehouse robots. BlackBerry CEO John Giamatteo said on an earnings call that QNX technology is deterministic and safety-certified, making it extremely difficult to replicate, and customers trust the technology in systems where failure is not an option. BlackBerry’s stock surged nearly 23% on Thursday after the company reported earnings far exceeding expectations and raised its guidance. BlackBerry phones were once favored by governments and enterprises for their security encryption features. The mathematical and cryptographic principles behind its encryption technology are the same as those used in cryptocurrencies, and the company has now evolved that technology into security assurance solutions for AI systems.

Strategy Preferred Stock STRC’s Correlation with Bitcoin Reaches All-Time High

The 90-day correlation between Strategy’s perpetual preferred stock STRC and Bitcoin’s price has climbed to nearly 0.70, the highest level since the product launched in July 2025. This month, STRC fell 23% to $76, while BTC price dropped nearly 20% to below $60,000, with both weakening in tandem. This increasingly tight correlation undermines STRC’s appeal to investors seeking relatively stable fixed-income instruments. STRC is designed as a hybrid product: a $100 par value variable-rate perpetual preferred stock that pays monthly cash dividends, with a current annualized dividend yield of 11.5%. When the share price is above par, the company can raise funds through ATM offerings to purchase Bitcoin. However, STRC is currently well below par, limiting the company’s ability to finance Bitcoin purchases. Strategy recently made small BTC sales to cover dividend expenses, marking a shift from its long-held “never sell” stance. Market views are divided, with some investors viewing the current discount as an attractive entry opportunity for yield-oriented capital, while others worry that continued weakness could put pressure on the capital structure.

Sharplink Resumes Accumulation After 8 Months, Receives 5,000 ETH from FalconX

Ethereum treasury company Sharplink, which had not purchased ETH for 8 months, resumed accumulation today, receiving 5,000 ETH ($7.85 million) from FalconX 6 hours ago. It currently holds 876,000 ETH ($1.37 billion), with an average cost of $3,609, and has an unrealized loss of $1.789 billion (-56%).

Polymarket User Assets Stolen Worth About $3 Million Due to Third-Party Vendor Breach

Prediction market platform Polymarket suffered a third-party vendor breach that injected malicious code into its website frontend, resulting in about 15 user accounts having roughly $3 million in funds stolen. Polymarket stated the issue has been resolved and affected users will be fully compensated, but did not disclose the specific vendor involved. The stolen funds were originally in pUSD, the platform’s dollar-pegged stablecoin, which the attacker swapped into ETH and consolidated into one wallet address. This attack marks Polymarket’s second security incident in nearly two months. Last month, an employee wallet used for deposits and paying out user rewards had about $700,000 stolen due to a private key leak.

OpenAI Leans Toward Delaying IPO to Next Year, Shift Prompted by SpaceX Share Price Retreat

OpenAI is leaning toward postponing its IPO to next year, despite having already hired bankers and lawyers to prepare for a listing as early as the third or fourth quarter of this year. Three people involved in the company’s discussions said CEO Sam Altman pushed the advisory team to find a path to a $1 trillion valuation, up from the company’s last private round valuation of $730 billion. However, several recent factors have caused OpenAI to shift its stance: SpaceX’s share price fell from last week’s high of $202 to Thursday’s close of $153 after its IPO this month; global tech stock volatility has intensified; and investors are growing skeptical about whether AI companies can meet high expectations. Two people familiar with the matter said that in discussions with the company over the past week, OpenAI’s advisory team has cautioned that retail investors may lack sufficient enthusiasm for OpenAI shares.

U.S. CFTC Seeks Public Comment on Data Reporting Rules for Fully Collateralized Event Contracts

The U.S. Commodity Futures Trading Commission (CFTC) is seeking public comment on new data reporting rules for fully collateralized event contracts, which will replace its long-standing system of scattered no-action letters.

Researcher: Suspicious DAO Proposal Appears on Tornado Cash, Could Threaten $23 Million in DAO Funds

L2BEAT researcher @sergeyshemyakov posted on X that a suspicious DAO proposal appeared on Tornado Cash on June 25. The proposal’s target contract is unverified, which is highly unusual for a Tornado Cash DAO proposal, indicating it should be considered malicious. The proposal creator’s address received funding through Railgun 4 days ago. If the proposal passes and executes, the governance contract will make a delegatecall to the target contract. Sergeyshemyakov said the Tornado Cash fund pool itself is safe, but the proposal could directly target an attack on the Tornado Cash DAO, which currently holds about $23 million worth of TORN tokens.

Solana Foundation Urges Validators Hosted on Cherry Servers to Check Logs and Rotate Keys

The Solana Foundation stated that after cloud server provider Cherry Servers disclosed a security incident involving its legacy monitoring system, validators hosted on the server should check their Sensu logs. Potentially affected validators are advised to rotate identity keys, review exposed credentials, and rebuild hosts if compromise cannot be ruled out.

Kazakhstan Stock Exchange Lists Volatility Shares’ Solana ETF

The Kazakhstan Stock Exchange (KASE), one of the largest exchanges in Central Asia, has listed Volatility Shares' Solana ETF (SOLZ). Earlier this year, KASE launched Kazakhstan's first licensed digital asset platform, built on the Solana network.

X Launches X Money Service for Some Premium+ Users, Offering Up to $10 Million FDIC Insurance

Elon Musk's X platform has begun rolling out the X Money service to some Premium+ users, providing up to $10 million in FDIC insurance through the X Cash Sweep Program.

Musk Responds to Andrej Karpathy's Criticism of X's Current State: We Need a Thorough Overhaul of the Algorithm

Andrej Karpathy, a renowned AI researcher, key contributor to Tesla’s autonomous driving technology and founding member of OpenAI, recently posted on X expressing excitement about the Claude AI assistant, saying it "works like a real teammate," but was attacked by a large number of strangers who accused him of being a "shill." Karpathy later responded that in his 20 years on X he had never seen such a hostile environment, where the algorithm actively pushes angry, insulting, and mob-ridden content to drive engagement, leading him to reduce his own posting and visiting frequency. In response, Musk said, "We need a thorough overhaul of the algorithm."

"Hyperliquid's Biggest Bull" Increases Position to $445 Million, with Unrealized Loss of $110 Million

"Hyperliquid's Biggest Bull" continued to add to the position, now holding $445 million in long positions (120,000 ETH + 2,500 BTC), with an unrealized loss of $110 million. After BTC fell to $59,000 last night, they opened a 500 BTC ($30 million) long position at $59,261 using 3 wallets. The average entry price for ETH longs is $2,261, and for BTC longs is $69,560.