Binance News

Bitcoin is trading at $63,671.32, up 1.60% over the past 24 hours, while Ethereum has climbed to $1,723.81, up 1.64% over the same period — a modest rebound following the four-day decline that took Bitcoin below $62,400 in the wake of Wednesday's hawkish Fed dot plot and the STRC-driven credit market stress.
What funding rates reveal beneath the price action
Despite the price recovery, funding rates across major trading platforms tell a more cautious story. BTC funding rates are below the bullish threshold on all platforms, with roughly half turning negative — indicating that the price increase has not been accompanied by a corresponding recovery in bullish sentiment among leveraged traders. ETH funding rates are similarly in bearish territory across platforms, though most remain positive, suggesting Ethereum sentiment is comparatively less negative than Bitcoin's at this moment.
A funding rate of 0.01% represents the neutral benchmark. Rates above that threshold typically indicate bullish positioning, where long traders are paying shorts to maintain leveraged positions. Rates below approximately 0.005% indicate bearish positioning, where the balance of leveraged demand has shifted toward shorts or simply away from aggressive long conviction.
Why this divergence matters
The gap between rising spot prices and weak funding rates is a meaningful signal in itself. When price rises but funding rates stay low or negative, it typically suggests the rally is being driven by short covering or spot buying rather than fresh leveraged long conviction — a pattern consistent with what derivatives data showed during Monday's earlier short-squeeze-driven bounce to $66,000 following the initial US-Iran deal confirmation.
This pattern also lines up with the broader market structure described throughout the week: more than $450 million in long liquidations following Wednesday's Fed meeting, elevated put option demand targeting a potential slide to $52,000, and persistent negative cumulative volume delta across most major tokens. Traders who were burned by the post-FOMC selloff and the STRC credit scare appear to be treating today's bounce with caution rather than re-leveraging aggressively into long positions.
The broader context
Today's modest recovery arrives against a backdrop of accumulating structural signals — Glassnode's Accumulation Trend Score at its maximum reading, K33's record 79% long-term holder supply share, and CryptoQuant's Sharpe ratio hitting historical cycle-bottom levels — all of which suggest underlying demand conditions have been improving even through the week's volatility. The disconnect between that accumulation picture and today's tepid funding rates may simply reflect the lag between spot-level accumulation by long-term holders and the return of confidence among shorter-term leveraged traders, who tend to be the last cohort to re-engage after a sharp selloff.
Whether today's bounce extends or fades will likely depend on whether funding rates begin normalizing toward the bullish threshold in the coming sessions — a shift that would indicate leveraged traders are starting to share the conviction reflected in the broader on-chain accumulation data, rather than remaining skeptical of the recovery's durability.

U.S.-listed semiconductor equipment stocks have posted broad gains year to date, alongside rises in AI hardware segments such as semiconductors and optical communications.
According to Odaily, nine U.S. semiconductor equipment companies with market capitalizations above $10 billion have each gained more than 75% so far this year.
The report said seven of those stocks have more than doubled year to date: Applied Materials, Lam Research, KLA, Teradyne, MKS Inc., Entegris, and Onto Innovation Inc.

Republican Congressman William Timmons, Chairman of the US House Subcommittee on Military and Foreign Affairs, has announced a roundtable scheduled for June 25 examining how digital assets and cryptocurrencies can help individuals protect their wealth, access financial assistance, and maintain economic sovereignty.
What the roundtable will cover
The discussion will focus on the intersection of digital finance with US national security interests, alongside examining how the United States can maintain competitiveness in the digital financial sector through continued financial innovation. The national security framing is notable — positioning crypto policy not purely as a financial market or consumer protection issue, but as a strategic competitiveness question tied to broader US foreign policy and economic security interests.

A South Korean national petition calling for the cancellation of virtual asset taxation is expected to be submitted soon to the National Assembly’s Strategy and Finance Committee for discussion. According to Foresight News, Edaily reported that the petition received 58,571 endorsements, meeting the 50,000-signature threshold.
Under South Korea’s National Assembly Act, once a petition has been transferred to the relevant committee and 30 days have passed, it must be placed for review at the committee’s first meeting held thereafter.
South Korea’s current plan is to begin taxing virtual asset income starting January 1 next year, applying a combined 22% tax rate on income exceeding 2.5 million won.
The report said the government and the ruling party still favor implementing the tax on schedule, but calls to cancel or revisit the plan are growing.

The US Securities and Exchange Commission is preparing to introduce a new policy that would allow crypto companies to offer blockchain-based tokenized stock trading, according to a Reuters report — a development that could have significant implications for the structure of traditional US equity markets if implemented.
What's being proposed
According to SEC Chairman Paul Atkins, companies would be permitted to experiment with new digital asset business models, including the tokenization of US stocks, without fully complying with existing disclosure and investor protection rules. This experimental, lighter-touch regulatory approach would represent a significant departure from how equity trading has traditionally been regulated in the US, potentially allowing crypto-native platforms to offer stock exposure through blockchain rails alongside or in competition with traditional exchanges.
Industry pushback: Citadel Securities and SIFMA raise concerns
The proposal has already drawn opposition from established financial market participants. Citadel Securities and SIFMA — the Securities Industry and Financial Markets Association, representing broker-dealers, banks, and asset managers — have argued that the changes could divert liquidity away from traditional markets and create regulatory arbitrage risks, where tokenized stock platforms could operate under lighter compliance burdens than traditional exchanges and broker-dealers while competing for the same order flow.
The regulatory arbitrage concern is a familiar one in financial market structure debates: if tokenized stock platforms can offer similar economic exposure to traditional equities with fewer disclosure and investor protection requirements, market participants may migrate toward the less-regulated venue, potentially undermining the protections that traditional securities regulation has built over decades — or alternatively, creating genuine innovation and efficiency gains that benefit investors through lower costs and faster settlement.
As of the report, the SEC has not made any public comments on the matter.
Why this matters for crypto markets
This development would represent a significant acceleration of the "Great Convergence" theme that BlackRock's Jay Jacobs described earlier this week — the merging of traditional finance and crypto infrastructure. It also builds directly on momentum already visible in the market: Kraken's xStocks platform has processed more than $25 billion in cumulative tokenized equity trading volume within eight months of launch, including tokenized access to SpaceX shares ahead of its traditional IPO. Ondo Global Markets has surpassed $1 billion in total value locked offering tokenized stocks and ETFs. Pre-IPO perpetual futures volumes have surged from $1 billion to $22 billion in weeks, with Binance establishing itself as the largest venue.
SEC approval of a formal framework for tokenized stock trading — rather than the current patchwork of offshore and crypto-native platforms operating in regulatory gray areas — would provide the legitimacy and regulatory clarity that could dramatically accelerate institutional and retail adoption of tokenized equities. It would also validate Standard Chartered's Geoffrey Kendrick's investment thesis behind his $100 UNI price target, which rests specifically on tokenized real-world assets flooding into DeFi protocols as the category matures and gains regulatory acceptance.
For traditional market structure, the implications are genuinely significant. If tokenized stocks can trade 24/7 on blockchain rails with faster settlement than the traditional T+1 system, and if crypto-native platforms can offer this with lower compliance overhead, the liquidity migration concerns raised by Citadel Securities and SIFMA may prove well-founded — representing a genuine threat to the economics of traditional market-making and exchange operations that have been built around current regulatory structures.

Polymarket has been accused of promoting its product on social media through paid creators who posted simulated trading and false profit videos, according to a Wall Street Journal investigation.
According to Foresight News, the WSJ said the creators filmed trading videos using mock sites that closely resembled Polymarket’s real website.
The report said some videos showed large profits that did not actually occur, and that some content was submitted to Polymarket for review.
The WSJ also reported that Polymarket used the marketing firm Virality to manage influencer promotions. Despite restrictions on its U.S. services and a backdrop involving international user positioning, the activity was still alleged to have explicitly reached U.S. users.
In addition, the WSJ said Polymarket maintained a promotional arrangement worth several million dollars with influencer Adin Ross to encourage user participation.

Cointelegraph reported that Jaredfromsubway.eth, one of Ethereum's most prolific MEV bots and responsible for roughly 70% of sandwich attacks on the network between November 2024 and October 2025, was drained of more than $7.5 million on Saturday in what security firm Blockaid described as a "counter-MEV honeypot attack."
According to Blockaid CTO Raz Niv, the attacker spent several weeks deploying 66 fake token contracts that mimicked the interfaces of Wrapped ETH, USDC, and USDT, pairing them with fraudulent liquidity pools engineered to appear as profitable trade opportunities. The bot, programmed to chase such opportunities, was manipulated into granting token approvals to attacker-controlled helper contracts — effectively handing over access to its treasury. In a single final transaction, the attacker triggered all 66 backdoors simultaneously and swept the bot's holdings in ETH, USDC, and USDT.
"This is not a classic phishing attack and not a traditional smart-contract vulnerability," Blockaid noted, emphasizing that the exploit specifically targeted the automated logic MEV bots are built around. Cointelegraph Research has estimated that sandwich attacks on Ethereum generate roughly $60 million in annual losses for traders, with the network absorbing between 60,000 and 90,000 such attacks per month at peak. The bot had previously sandwich attacked Ethereum co-founder Vitalik Buterin in May while he swapped a small position in DigitalBits.

Blockchain monitoring data showed the JaredFromSubway attacker transferred 1,000 ETH to Tornado Cash after stealing assets worth approximately $7.5 million.
According to NS3.AI, PeckShieldAlert reported the attacker stole WETH, USDC, and USDT before swapping part of the stolen assets for 4,400 ETH.
The transfer to Tornado Cash followed the asset swaps, the monitoring account said.

Main Street USD (msUSD) lost its dollar peg after Accountable ended its agreement with the protocol, sending the token to around $0.29.
According to BeInCrypto, msUSD is down roughly 71% over 24 hours, with a market value near $30.5 million.
Accountable said Main Street could not meet its standards, and its dashboard no longer verifies the reserves backing msUSD.
Another token, msY, also dropped sharply as Morpho’s msY/USDC market showed extreme illiquidity.

U.S. Vice President JD Vance said in an interview with CEO Diary that U.S. President Donald Trump supports creating a U.S. sovereign wealth fund and holding equity stakes in advanced AI companies. According to Odaily, Vance said large AI companies should not be allowed to become unchecked monopolies and argued that state ownership and labor participation mechanisms could allow ordinary workers to share in AI-driven economic gains.
Elon Musk responded publicly on X, saying a better approach than government ownership of corporate equity would be for the U.S. Treasury to send money directly to the public. Musk said that as AI and robots increase the supply growth of goods and services faster than the money supply, direct payments would not cause inflation, and that the larger future challenge would be “major deflation.”
The disagreement centers on how wealth should be distributed. Vance favored distributing gains through state participation on the production side, while Musk supported direct consumer-side subsidies and opposed government involvement in corporate ownership structures.

The Bank of Korea issued a rare warning that large performance bonuses driven by the memory-chip upcycle could spill over from the semiconductor sector into the broader economy and add to inflation pressure, according to 36Kr. The report said bonuses at Samsung Electronics and SK hynix have surged, with luxury spending rising around chip manufacturing hubs, while retail stocks including Shinsegae, Lotte Shopping and Hyundai Department Store have been traded by some investors as “memory-themed” plays. The central bank currently forecasts South Korea’s overall inflation rate could reach 2.7% in 2026, well above its 2% policy target, making its July or September policy meetings key potential windows for a rate hike.

Morgan Stanley has been accumulating Bitcoin through recent market weakness, adding 266.56 BTC over the past week through its spot Bitcoin ETF position (MSBT), worth approximately $17.26 million, according to monitoring data from Arkham Intelligence.
The recent purchase brings Morgan Stanley's total Bitcoin holdings above 4,300 coins — a position built through the bank's exposure to spot Bitcoin ETF products, allowing it to gain Bitcoin exposure through regulated, traditional financial market infrastructure rather than direct custody.

Robert Kiyosaki, author of Rich Dad Poor Dad, said he is not making buy or sell decisions based only on recent declines in gold and silver prices. According to Odaily, Kiyosaki said he has made mistakes in the past by letting price movements influence his investment judgment and now focuses more on an asset’s broader environment and macro backdrop rather than short-term fluctuations.
Kiyosaki said global economic management is performing poorly and that problems may continue to worsen. He said he is monitoring the technical trends of gold, silver, Bitcoin, and Ethereum, and is waiting to buy after prices end their downward trend.
He added that technical charts for gold and silver suggest they may be in a phase ahead of a significant rise, but said investors should make their own judgments and not blindly trust others’ views.

Gold is expected to remain volatile next week as investors await the release of the US core personal consumption expenditures price index — the Federal Reserve's preferred inflation gauge — for clues about the central bank's rate path following this week's hawkish dot plot, according to market analysts cited by Jinshi on June 20.
Why core PCE is the key event
"With the Fed now appearing more adaptable to changing circumstances and increasingly sensitive to upcoming inflation data, every important economic data release will have an impact, but the core PCE will be a key event for both the gold and interest rate markets, and next week will be highly data-dependent," said Stephen Innes, Managing Partner at SPI Asset Management.
The core PCE reading takes on outsized importance given the context established by Wednesday's FOMC meeting. With 9 of 18 Fed officials now projecting rate hikes in 2026 and the committee's policy statement completely rewritten with reduced forward guidance, markets have fewer pre-committed signals to rely on — meaning each incoming data point, starting with core PCE, will carry disproportionate weight in shaping rate expectations until the Fed's communication framework stabilizes under Warsh.
The downside risk: a test of $4,000
Innes warned that stronger-than-expected inflation readings could boost the dollar, push up Treasury yields, and increase the risk of gold testing the $4,000 per ounce level. Gold closed the week near $4,100 — already just over $100 above that psychologically and technically significant threshold, following Goldman Sachs' decision to cut its year-end gold target by $500 to $4,900 on the assumption that the Fed's first rate cut is now pushed to March 2027.
A core PCE print above expectations would reinforce exactly the dynamic Goldman flagged: with the Fed's easy-money thesis already being repriced following the hawkish dot plot, additional confirmation of persistent inflation would extend the pressure on gold's no-yield holding cost relative to bonds and cash, pushing the metal further into territory not seen since November.
What investors should expect
Innes advised gold investors to prepare for increased volatility and remain wary of potential further selloffs heading into the data release. The framing is consistent with the broader "tactically cautious, structurally constructive" view that Goldman's commodity analysts articulated — near-term risk skews to the downside while the metal's longer-term thesis around central bank buying and currency debasement remains intact for those with a multi-year horizon.
The read-through for Bitcoin
Core PCE's significance extends beyond gold. Given Bitcoin's established pattern of moving in tandem with gold during this macro-dominated phase — both assets falling together when rate hike fears intensify, both rising together on the Iran deal's disinflationary signal — a hot core PCE print carries similar downside risk implications for Bitcoin as it does for gold. With Bitcoin closing the week at $63,671 after a volatile stretch that included the STRC selloff and the hawkish FOMC dot plot, a core PCE surprise to the upside would test the accumulation-driven resilience that has kept Bitcoin above its $59,375 cycle low, while a softer reading could provide the disinflationary confirmation that Mike McCluskey of tx identified as one of the three conditions needed for a genuine, sustained crypto market shift.

Michael Saylor used a social media post Friday to draw a direct comparison between Strategy's current financial position and a considerably more precarious moment in October 2022 — offering context for investors concerned about the company's capital structure following this week's STRC selloff.
The 2022 comparison: when debt exceeded reserves
Saylor recalled giving a speech in October 2022, when Bitcoin traded near $20,000 and Strategy held 130,000 BTC worth approximately $2.6 billion, with MSTR's split-adjusted stock price around $24. Weeks later, Bitcoin fell below $16,000, and Strategy's total debt briefly exceeded the combined value of its Bitcoin holdings and cash reserves by approximately $300 million. MSTR's stock price fell to around $13 by year-end — a genuinely distressed moment for the company, occurring during the depths of the 2022 bear market that followed the FTX collapse.
Where Strategy stands today
Saylor's point in revisiting that period is to frame Strategy's current position by contrast. Since 2022, the company has raised over $60 billion — capital used entirely to increase its Bitcoin holdings, adding more than 716,000 BTC to its treasury. Today, Strategy's combined Bitcoin and dollar reserves exceed its total debt by approximately $48 billion — a swing of roughly $48.3 billion in the reserves-minus-debt position compared to the 2022 deficit.
"Thank you to everyone who believes in Strategy, stays with us, and takes a long-term perspective," Saylor wrote.
Context: this follows the week's STRC turmoil
The timing of Saylor's post is notable. It arrives directly following the week's most significant stress test of Strategy's capital structure — STRC's collapse to as low as $82.50 on Thursday, which Strive CEO Matt Cole characterized as a "leverage liquidation event" rather than a credit deterioration. STRC closed the week at $88.62, still meaningfully below its approximately $100 par value, after the company announced it could sustain dividend payments for 32 years through Bitcoin sales in an apparent attempt to reassure markets about the structure's long-term viability.
Saylor's own initial response to the STRC selloff on Friday had been notably brief: "Markets are closed today. Volatility is never easy. Bitcoin keeps working. So do we." This follow-up post represents a more substantive defense of the company's financial position, using historical context rather than forward-looking reassurances.
Why the $48 billion figure matters
The comparison directly addresses the core concern that has driven market anxiety this week — the fear, as Marex analysts put it, that "the market is now openly pricing the tail that Strategy has to sell coins to defend the structure." Saylor's framing argues that even accounting for STRC's preferred dividend obligations and the company's total debt load, Strategy's asset base provides a substantial $48 billion buffer — a figure that, if accurate, suggests the company is far from the kind of position it found itself in briefly during 2022, when debt actually exceeded combined reserves.
The contrast with 2022 is instructive but not a complete reassurance. In 2022, Strategy's debt-exceeding-reserves moment resolved itself as Bitcoin recovered and the company continued its accumulation strategy uninterrupted — the company never was forced into distressed Bitcoin sales despite the brief negative equity position. Saylor's implicit argument is that the current situation, with $48 billion of positive buffer rather than a $300 million deficit, is structurally far more secure than the 2022 episode that ultimately resolved without incident.
What remains unresolved
The $48 billion reserves-over-debt figure addresses balance sheet solvency, but it does not directly resolve the more immediate liquidity question that triggered this week's STRC selloff: whether Strategy has sufficient near-term cash flow to meet its semi-monthly preferred dividend obligations without selling Bitcoin, given that the company already sold 32 BTC in late May specifically to fund a dividend payment. The $1.1 billion USD reserve built up over recent weeks is the more directly relevant buffer for that near-term liquidity question, separate from the longer-term solvency picture Saylor's $48 billion figure addresses.
With STRC closing the week at $88.62 — still 11% below par — the market's verdict on whether Saylor's reassurance fully resolves the structural concerns raised by Marex, Cole, and others remains a question for the coming week's trading, particularly as Strategy's next scheduled dividend record dates (June 30 and ongoing semi-monthly thereafter) approach.

Analysts’ price targets for SpaceX shares range from $63 to $227, while the stock traded between $190 and $225 on Nasdaq at the time of writing.
According to NS3.AI, an S&P Global poll shows six analysts currently cover the stock.
The poll indicates four analysts rate the shares as Buy, while one analyst rates them as Sell.

XRP would need to trade at $3.22, based on its current supply of 62 billion coins, for its market capitalization to reach $200 billion.
According to NS3.AI, XRP’s market cap has dipped to $72 billion.
The report also cited a support range for XRP at $1.15 to $1.18.

Citrini analyst Jukan said preliminary export data for South Korea from June 1 to 20 showed sharp year-over-year increases across several memory product categories. According to Odaily, DRAM including modules rose 342% year over year and 3% month over month.
Jukan added that NAND flash exports increased 336% year over year and 28% month over month. MCP, described as HBM, rose 209% year over year and 51% month over month, while SSD exports climbed 405% year over year and 25% month over month.

Anza CEO Brennan Watt said Solana-related SIMD proposals are expected to be advanced to completion within this year, including changes that could increase SOL’s annual inflation decay rate if implemented.
According to ChainCatcher, Watt said SIMD-123 has passed and is nearing code completion. He added that the SIMD-547 discussion draft aligns with the same direction as SIMD-553, and that both SIMD-553 and SIMD-550 have received Anza’s concept acknowledgment.
Watt said that if SIMD-550 and SIMD-553 are merged and implemented, SOL’s annual inflation decay rate would rise from 15% to 30%. Under the current price assumption cited, he said the change could reduce token emissions by about $1.36 billion over six years.
He also said the proposal could raise average daily SOL burns from about 650 SOL to as high as about 9,000 SOL.

Binance announced on X that a new rewards round is being prepared as the Katana Season 5 vbETH Wallet Earn event goes live. The campaign is scheduled to run from June 20, 2026, 8:00 AM to August 3, 2026, 7:59 AM (UTC+8). The announcement centers on a Katana Morpho vbETH activity pool within Binance Wallet Earn, where participants who subscribe assets during the event period will share a total reward pool of 15 million KAT.
Event Details: The company said that starting today, users can subscribe assets in the Binance Wallet Earn Katana Morpho vbETH activity pool to participate in the distribution of the 15 million KAT rewards. Participation is tied to maintaining holdings in the relevant Katana Wallet Earn product during the campaign window. Eligibility and reward sharing are described as linked to subscriptions made within the activity pool over the stated period.
Existing Participants: Binance added that users who are already participating in the current Katana Wallet Earn activity will be automatically considered enrolled in Season 5 as long as they keep their positions. According to the announcement, these users do not need to resubscribe to be treated as participants in the new season.

Iraq asked operators of five major oil fields to boost production to prewar levels, targeting output of more than 3 million barrels a day. According to Bloomberg, the move follows a US-Iran deal aimed at fully reopening the Strait of Hormuz.

A total of 49 A-share listed companies will see restricted shares unlocked during June 22-26, involving 2.763 billion shares with a combined market value of about 54.91 billion yuan based on latest closing prices, according to 36Kr citing Databao statistics. Fifteen companies each have unlock market values above 1 billion yuan, totaling about 48.59 billion yuan; Zhucheng Technology and Xinhenghui each exceed 5 billion yuan. By unlock ratio, 16 companies have unlock volumes exceeding 10% of total share capital; besides Zhucheng Technology, Guangxin Technology, Weishidun, and Kaichuang Electric each exceed 50%. Several tech stocks also face unlocks, including GigaDevice (407 million yuan), Huahai Chengke (2.177 billion yuan), Uxin (434 million yuan), Lingxian (1.946 billion yuan), Shengyi Electronics (799 million yuan), and Shanghai Silicon Industry (3.556 billion yuan).

Michael Saylor said Strategy’s STRC was largely designed with AI, after the stock drew attention following a decline to as low as $82.7. According to NS3.AI, Saylor said he wanted a monthly preferred stock that could remain stable at 100.
STRC closed at $88.8.

U.S. Vice President Vance said U.S. President Donald Trump’s special envoy Witkoff and Trump’s son-in-law Jared Kushner have arrived at the site for talks with Iran, and the negotiations may take place on Sunday.
According to Odaily, Iran’s Mehr News Agency reported that Iran’s Supreme Joint Military Command said the Strait of Hormuz will be closed to vessel traffic due to alleged violations of a ceasefire memorandum of understanding by the United States and Israel.

Strategy’s STRC fell below $83 intraday on June 18, about 17% below its $100 target price, before closing at $88.59. According to NS3.AI, Strategy’s dollar reserves declined to about $871 million following a bond repurchase and later rebounded to $1.1 billion.
The report also said Strategy currently holds about 846,842 BTC at an average cost of around $75,656.

Spot gold extended its pullback this week, marking a third consecutive weekly decline. According to PANews, gold was among the assets facing the most pressure as market sentiment shifted between easing geopolitical risks and a more hawkish turn from the U.S. Federal Reserve.
PANews attributed the continued weakness in spot gold to a stronger U.S. dollar, rising real yields on U.S. Treasury bonds, and hawkish signals from the Fed.

MSCI has assigned SpaceX its lowest environmental, social and governance (ESG) rating of “CCC” ahead of a reported record $75 billion initial public offering this month, according to 36Kr. MSCI said the rating reflects SpaceX’s “high-risk exposure” and failure to manage material ESG risks, leaving it behind industry peers. Frédéric Ducoulombier, program director at EDHEC Business School’s Climate Institute, said SpaceX’s weak controversy assessment, very poor governance score and low overall ESG rating should not be surprising, adding that for public-market investors it is “close to a governance horror story.”

Namada said it experienced a vulnerability-related security incident after on-chain data showed about 228,517 ATOM reached a Cosmos Hub address on June 18.
According to NS3.AI, the address was drained within hours through IBC transfers and multiple outgoing transactions.
Namada has not disclosed the type of vulnerability, how the attack was carried out, or the specific scale of losses.

According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.19T, up by 1.73% over the last 24 hours.Bitcoin (BTC) traded between $62,340 and $63,907 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $63,564, up by 1.89%.Most major cryptocurrencies by market cap are trading higher. Market outperformers include BICO, RE, and RARE, up by 90%, 56%, and 36%, respectively.Bitcoin Is Rising — So Why Won't Traders Bet on It? The Funding Rate Mystery Heading Into Crypto's Next Big CatalystBitcoin climbed back to $63,671 and Ethereum to $1,723 — a modest rebound from the four-day post-FOMC slide — but funding rates across major platforms remain stuck below bullish territory, suggesting the bounce is being driven by short covering and spot buying rather than fresh leveraged conviction. Next week's core PCE print is shaping up as the decisive tiebreaker, with gold already bracing for a possible test of $4,000 and Bitcoin's fate likely to track closely behind it.Beyond the price action, the regulatory landscape kept shifting: the SEC is reportedly preparing to greenlight tokenized stock trading, Schwab is entering prediction markets with Cboe, and a House subcommittee will examine crypto's role in economic sovereignty and national security on June 25 — three threads all pointing toward deeper convergence between traditional finance and crypto infrastructure.Crypto Rebounds Modestly — But Funding Rates Reveal the Bounce Isn't Backed by Bullish ConvictionKey Takeaways:Bitcoin trading at $63,671 (+1.60% over 24 hours); Ethereum at $1,723.81 (+1.64%) — a modest recovery following the four-day decline that took Bitcoin below $62,400 after Wednesday's hawkish Fed dot plot and the STRC credit scareBTC funding rates are below the bullish threshold on all platforms, with roughly half turning negative — the price recovery has not been matched by a return of bullish leveraged sentiment; ETH funding is similarly soft though mostly still positive, suggesting comparatively less bearishness than Bitcoin0.01% is the neutral funding benchmark; rates above signal bullish long positioning, below ~0.005% signal bearish or short-skewed positioning — most majors are currently sitting in or near that lower zoneThe pattern mirrors Monday's earlier short-squeeze bounce to $66,000: price rising on covering and spot demand rather than fresh leverage, consistent with $450M+ in long liquidations post-FOMC and elevated put demand targeting $52,000Context: Glassnode's Accumulation Trend Score remains at its maximum reading, long-term holder supply sits at a record 79%, and the Sharpe ratio has hit historical cycle-bottom levels — accumulation data continues improving even as leveraged traders stay cautiousSummary:The gap between rising spot prices and stagnant funding rates is the most informative signal in today's data — it tells you who's buying and who isn't. Long-term holders and spot accumulators have been steadily building positions for weeks; leveraged short-term traders, burned twice this month by the STRC scare and the post-FOMC selloff, are the last cohort to re-engage and are clearly still on the sidelines. Whether today's bounce extends will likely show up first in funding rates normalizing toward bullish territory — a shift that would confirm leveraged conviction catching up to what the on-chain accumulation data has been signaling for weeks.Schwab to Join Prediction Markets Race With S&P 500 Event-Based Options: WSJKey Takeaways:Charles Schwab is partnering with Cboe Global Markets to launch yes-or-no options contracts tied to the S&P 500 — Schwab's first move into prediction markets, paying a fixed amount or nothing based on whether the index closes above or below a preset levelRollout is expected in the coming months; Schwab and Cboe are also discussing "Plus Zone" contracts offering partial payouts, with potential expansion to other financial benchmarks beyond the S&P 500The companies are explicitly avoiding politics- or sports-linked markets — positioning the product as a financial risk-management and speculation tool rather than a Kalshi/Polymarket-style general prediction platformSummary:A major incumbent brokerage entering prediction markets through binary options on a benchmark index is a significant legitimization step for the category — Schwab brings a retail and institutional client base that dwarfs the existing crypto-native prediction market platforms. The deliberate avoidance of politics and sports suggests Schwab is positioning this as a financial hedging and speculation product within its existing regulatory comfort zone, rather than competing directly with Kalshi or Polymarket's broader event-contract scope. For crypto markets, it's another data point in the broader "Great Convergence" theme — traditional finance incumbents adopting crypto-native product structures once the regulatory and demand signals are clear enough.U.S. House Subcommittee to Hold Digital Finance Roundtable June 25 — Focus on Crypto's Role in Economic Sovereignty and National SecurityKey Takeaways:Rep. William Timmons, Chairman of the House Subcommittee on Military and Foreign Affairs, announced a June 25 roundtable examining how digital assets help individuals protect wealth, access financial assistance, and maintain economic sovereigntyThe discussion will explore the intersection of digital finance with US national security interests and how the US can maintain competitiveness in digital finance through continued innovationThe national security framing is notable — positioning crypto policy as a strategic competitiveness and foreign policy question rather than purely a financial market or consumer protection issueSummary:A Military and Foreign Affairs subcommittee — rather than a financial services committee — hosting this roundtable signals that crypto policy discussions in Washington are broadening beyond market structure and taxation into geopolitical strategy. Framing digital assets as tools for economic sovereignty connects directly to the dollar-debasement and de-dollarization narratives that have been part of the structural Bitcoin bull case, while the national security angle suggests lawmakers are increasingly viewing crypto infrastructure as a competitiveness question against other nations' digital currency and blockchain strategies. It's a relatively low-key event on its face, but the venue and framing matter more than the specific agenda items.SEC Reportedly Preparing to Greenlight Tokenized Stock Trading — A Potential Structural Shift for US Equity MarketsKey Takeaways:The SEC is preparing a policy allowing crypto companies to offer blockchain-based tokenized stock trading, per Reuters; SEC Chairman Paul Atkins indicated companies could experiment with new digital asset business models, including stock tokenization, without fully complying with existing disclosure and investor protection rulesCitadel Securities and SIFMA have already pushed back, arguing the lighter-touch approach risks diverting liquidity from traditional markets and creating regulatory arbitrage between tokenized platforms and conventional exchangesThe move builds on existing momentum: Kraken's xStocks has processed $25B+ in cumulative tokenized equity volume in eight months (including pre-IPO SpaceX exposure); Ondo Global Markets has surpassed $1B in TVL for tokenized stocks/ETFs; pre-IPO perpetual futures volume surged from $1B to $22B in weeks, with Binance the largest venueA formal SEC framework — replacing the current offshore/gray-area patchwork — would directly validate Standard Chartered's Geoffrey Kendrick's $100 UNI price target thesis, which rests on tokenized real-world assets flooding into DeFi as the category maturesThe SEC has made no public comment on the report as of writingSummary:This is potentially the most structurally significant crypto-adjacent regulatory development of the month — formal SEC legitimization of tokenized stock trading would accelerate the "Great Convergence" between traditional and crypto finance that BlackRock's Jay Jacobs described earlier in the week. If tokenized stocks can trade 24/7 with faster-than-T+1 settlement at lower compliance overhead, the liquidity migration concerns Citadel and SIFMA are raising may prove justified — representing a genuine structural threat to traditional market-making economics built around current regulatory frameworks. Whether this becomes a genuine innovation unlock or a regulatory arbitrage problem will likely depend on how the disclosure and investor protection gaps are eventually addressed, if at all.Gold Braces for a Data-Dependent Week — Core PCE Could Trigger a Test of $4,000Key Takeaways:Gold closed the week near $4,100 — just over $100 above the psychologically significant $4,000 level — with core PCE, the Fed's preferred inflation gauge, set to be the week's defining catalyst following Wednesday's hawkish dot plotSPI Asset Management's Stephen Innes: "the core PCE will be a key event for both the gold and interest rate markets" — with 9 of 18 Fed officials now projecting 2026 hikes and reduced forward guidance, each incoming data point carries outsized weight until the Warsh Fed's communication framework stabilizesA stronger-than-expected core PCE print could boost the dollar, lift Treasury yields, and push gold toward testing $4,000 — directly reinforcing Goldman's freshly cut $4,900 year-end target built on a March 2027 first-cut assumptionInnes advises investors to prepare for elevated volatility and remain wary of further selloffs into the release — consistent with Goldman's "tactically cautious, structurally constructive" framingBitcoin has moved in tandem with gold throughout this macro-dominated phase — falling together on hike fears, rising together on Iran de-escalation signals — meaning a hot core PCE carries similar downside risk for Bitcoin as for goldSummary:Core PCE has effectively become the market's next binary catalyst, occupying the same role May CPI played three weeks ago. With Bitcoin closing the week at $63,671 after the STRC selloff and hawkish FOMC dot plot, a hot core PCE print would test whether the accumulation-driven resilience that's kept Bitcoin above its $59,375 cycle low can hold against renewed rate-hike repricing. A softer print, conversely, would provide exactly the disinflationary confirmation that multiple analysts have flagged as a necessary condition for a genuine, durable shift in crypto market sentiment — rather than the macro-driven relief bounces that have characterized the recovery so far.Market movers:NVDAB: $210.34 (+0.13%)SPCXB: $180.75 (+1.12%)MUB: $1129.24 (+0.96%)TSLAB: $402.25 (+0.90%)SNDKB: $2229.55 (+1.99%)ETH: $1723.72 (+1.88%)BNB: $586.58 (+2.59%)XRP: $1.1498 (+2.19%)SOL: $71.36 (+4.43%)TRX: $0.3227 (+0.50%)

Bloomberg reported that President Trump's public admission that fear of "economic catastrophe" drove him to sign the interim memorandum of understanding with Iran is now undermining US negotiating leverage as the two sides prepare for talks in Switzerland. The MOU, signed Wednesday, reopened the Strait of Hormuz and triggered immediate sanctions waivers allowing Iran to resume oil exports — producing an oil price decline and a US equity rally that Trump cited at a press conference in Evian, France.
A Bloomberg Economics analysis of the 14-point agreement found that 10 provisions favor Iran, one favors the US, and three are neutral. Under the deal, Washington has committed to sanctions waivers for Iranian oil sales and opened the door to ending all sanctions programs, while Iran also stands to receive a $300 billion reconstruction development program. Iran's primary concession — a reaffirmation of its pledge never to pursue a nuclear weapon — mirrors a commitment it had already made under the 2015 accord. Complicating the outlook, Iran closed the Strait of Hormuz again on Saturday, citing fresh Israel-Lebanon tensions, even before talks formally opened.
The 60-day negotiating window is explicitly "extendable," a provision Bloomberg Economics strategist Chris Kennedy and former Treasury sanctions official Miad Maleki both said benefits Tehran. "The US can still escalate militarily, but it has dismantled its economic leverage at the exact moment it needs it most," Maleki said. The war has drawn 56% disapproval among Americans and prompted the Republican-led House to vote to halt military operations, further constraining Washington's room to maneuver.

Namada said it is investigating a protocol exploit and has contacted relevant parties to assist with the response. According to Odaily, the team said that if the operator behind the incident is a white-hat hacker, it hopes the person will proactively contact Namada to help clarify the vulnerability and support a fix.
On-chain data indicated that some ATOM assets linked to the incident were suspected to have been transferred via IBC (Inter-Blockchain Communication) to a Cosmos Hub address. Tracking data showed the address received about 228,517 ATOM on June 18, and the funds were then emptied within hours through IBC transfers and multiple outbound transactions, leaving only a small remaining balance.
As of now, Namada has not disclosed the vulnerability type, the attack method, or the scale of losses, and the investigation is ongoing.

Robert Kiyosaki said he is monitoring gold, silver, Bitcoin, and Ethereum for a technical reversal before buying, as Bitcoin traded above $64,000 and Ethereum held near $1,740.
According to NS3.AI, Iran's Revolutionary Guard declared the Strait of Hormuz closed over alleged ceasefire violations, but Vice President JD Vance said there was no evidence to support the claim.
U.S. Central Command (CENTCOM) reported that 55 ships carrying more than 17 million barrels of oil transited the Strait of Hormuz on Saturday.

Anthropic CEO Dario Amodei said artificial intelligence companies will need “hundreds of billions of dollars” in revenue, or they could face existential risks, according to 36Kr.

U.S. Vice President Vance said there is no evidence that Iran is closing the Strait of Hormuz and said he expects to travel to Switzerland soon for talks with Iran. According to Odaily, Vance said he expects to depart in the coming days, adding that the trip requires diplomatic coordination and procedures.
Vance also said U.S. President Donald Trump’s special envoy Witkoff and Trump’s son-in-law Kushner have arrived at the location for negotiations with Iran, and that talks may be held on Sunday.

Brad Garlinghouse said JPMorgan CEO Jamie Dimon opposed the Clarity Act to protect the bank’s payments business. According to NS3.AI, Garlinghouse said that business generates $20 billion in revenue and more than $5 billion in profit.
Garlinghouse also disputed Dimon’s stated compliance rationale for opposing the legislation, saying the claim was either an intentional misrepresentation or highly negligent.

El Salvador increased its Bitcoin holdings by 8 BTC over the past seven days and by 31 BTC over the past 30 days. According to ChainCatcher, the country now holds 7,688.37 BTC, with a total value of $489.7 million.

Iran’s Persian Gulf Strait Authority has issued a document requiring all vessels to hold insurance approved by the authority in order to pass through the Strait of Hormuz.
According to Odaily, the document says the insurance is free during the period specified in a memorandum of understanding between the United States and Iran, but it may be charged later.
The Financial Times reported that the document has been circulated among shipping industry management. The document states that “all vessels must hold a valid insurance policy approved by the Persian Gulf Strait Authority.” It adds that the insurance currently carries “no charge,” while the authority “reserves the right to charge premiums in the future.”

Claude Guillemot, who co-founded French video-game publisher Ubisoft Entertainment SA with his brothers in 1986, has died in an air crash at age 69, the company said. According to Bloomberg, Guillemot helped found Ubisoft with his brothers in 1986.

Tether CEO Paolo Ardoino said the company has upgraded its Bitcoin mining development kit to version 0.2.0 and achieved its first fully end-to-end open-source run.
According to ChainCatcher, Ardoino said the latest release supports fully open-source deployment and operation of the complete Bitcoin mining machine development stack, and can display miners’ hashrate output data in real time.
He added that developers can start the system directly and observe real mining-machine hashrate being generated live in the interface. Ardoino said the goal is to build an underlying technical framework that connects intelligent systems with physical infrastructure.