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Asia’s weekly TOP10 crypto news: Oman Launches State BTC Mining Pool, BOJ Hikes Interest Rates, Russia Plans USDC Whitelist, Singapore Adds Bybit to Investor Alert List, and China Officials Call for Closer Monitoring of Stablecoins. For the complete article and weekly curated reports, subscribe to our Substack:

1. Bank of Japan Hikes Rates by 25bps, Policy Rate Rises to 1.0% link
The Bank of Japan announced that its Policy Board voted 7–1 on June 16 to raise interest rates by 25 basis points, lifting the target for the uncollateralized overnight call rate to approximately 1.0%, with the new rate taking effect June 17. The central bank warned that cost pass-throughs driven by rising crude oil prices could spread to consumer prices, creating upside risks that core inflation may exceed its 2% target. Per TBS NEWS DIG, the 1.0% policy rate marks a roughly 31-year high last seen in 1995.
2. Oman Launches National Bitcoin Mining Pool; All Licensed Miners Mandated to Connect link
The Ministry of Transport, Communications and Information Technology of Oman has partnered with Frontier Technologies to launch Omanhash, the country’s national Bitcoin mining pool. Under local regulatory rules, Omanhash is the sole official mining pool in Oman, and all licensed crypto mining operators are mandated to connect to it. The pool is expected to aggregate around 10 EH/s of computing power in its initial phase. Oman has invested over $700 million in mining and data center infrastructure since 2022. This launch represents a further step to bring Bitcoin mining under a unified regulatory framework.
3. Russia Proposes Adding USDC to Regulated Crypto Asset Whitelist link
The Russian government plans to add USDC issued by Circle to its regulated whitelist of cryptocurrencies for trading. Earlier in early June this year, the Central Bank of Russia (CBR) disclosed a list of crypto assets permitted for trading by non-qualified retail investors, which included BTC, ETH and stablecoin USDT, while explicitly stating no additional assets would be added at that time.
However, Ivan Chebeskov, Deputy Minister of Finance of Russia, revealed in an interview that per regulatory rules, digital assets eligible for investment by non-qualified investors must maintain an average market capitalization exceeding 5 trillion rubles (approximately $70 billion) over two years. For this reason, authorities are selecting globally widely recognized cryptocurrencies, chiefly BTC, ETH, USDT and USDC.
4. PBC Research Bureau’s Wang Xin: Closely Monitor Stablecoins’ Impacts on Global Monetary System & Cross-Border Payments link
Wang Xin, Director General of the Research Bureau (Counselor’s Office) of the People’s Bank of China, delivered a speech at the 2026 Lujiazui Forum. He stated that moving forward, authorities need to further safeguard the security, neutrality and efficiency of the international payment system, boost connectivity between central bank payment systems and retail payment systems, and prudently and steadily explore the potential of new payment instruments.
Wang Xin noted that close attention should be paid to the impacts of stablecoins on the international monetary system and cross-border payments, with regulatory rules to be refined to facilitate international payment activities. He also pointed out that three key areas merit continuous observation: whether stablecoins will play a larger role in cross-border payments, the prospects for cross-border application of central bank digital currencies (CBDCs), and relevant regulation as well as international coordination and cooperation mechanisms.
5. MAS Adds Bybit to Investor Alert List link
The Monetary Authority of Singapore (MAS) posted on social media that Bybit Fintech Limited, operating under the brand Bybit, has been added to its Investor Alert List. MAS explained that the list features individuals and entities which, based on available information, may be or have been falsely perceived as licensed, authorised or regulated by MAS. The list is non-exhaustive and reflects information known to MAS at the time of publication.
Bybit stated it has noticed that Bybit Fintech Limited was placed on MAS’s Investor Alert List and is engaging with MAS to fully understand the grounds for the listing. The platform said it has maintained open, constructive dialogue with MAS all along and kept implementing measures to restrict access for Singapore-based users, including explicit restrictions within its terms of service and geoblocking for Singapore IP addresses. Bybit emphasised it does not currently offer services to users in Singapore and will continue cooperating with regulators worldwide, with further updates to be released in due course.
6. Cambodia’s Interior Minister Retains US Law Firms to Counter Alleged Ties to Scam Networks link
Sar Sokha, Deputy Prime Minister and Minister of Interior of Cambodia, has retained US law firms to seek the removal of his name from a US congressional bill targeting global scam operations. Public filings show that the relevant legal and lobbying services cost more than US$250,000, involving communications with the US Department of the Treasury, Congress and the media. Sar Sokha denies any links to scam networks. A spokesperson for Cambodia’s Ministry of Interior stated that retaining legal counsel aims to protect his personal reputation, that of the ministry and Cambodia. Earlier, the US congressional bill listed Sar Sokha and several other Cambodian officials as potential sanctions targets over alleged involvement in cyber fraud activities targeting Americans.
7. India ED Files Charges Over Fake Coinbase Phishing Sites, $20M Crypto Loss Involved link
India’s Enforcement Directorate (ED) has formally filed charges against transnational crime kingpin Chirag Tomar and his accomplices for allegedly operating fake Coinbase websites to defraud victims of $20 million. The gang manipulated SEO and deployed replica websites to lure global investors, stole crypto assets by tricking users into disclosing their 2FA codes, and laundered illicit funds through P2P networks and shell companies. A total of 129 bank accounts and approximately $7.5 million worth of assets linked to the gang have been frozen in the case. Mastermind Tomar was previously sentenced to 60 months’ imprisonment by a US court.
8. Singapore to Launch OTC Gold Clearing System; Banks Accelerate Tokenized Physical Gold Layout link
Singapore will establish an over-the-counter gold clearing system and launch central bank gold custody services to bolster its status as Asia’s gold trading hub. Singapore Exchange (SGX) will roll out the OTC gold clearing system for physical gold stored in Singapore by the end of this year, with DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan Chase, OCBC and UOB serving as clearing members. Reuters also noted that DBS announced last week it would offer tokenized physical gold to retail clients.
9. CZ Advises Asian Governments to Push Tokenized Equities & Domestic Stablecoins link
CZ, co-founder of Binance, stated that he has recently held meetings with state leaders and regulatory authorities of multiple Asian countries to advance cooperation related to cryptocurrencies. CZ argued that nations should promote the tokenization of real-world assets (RWAs) such as stocks to enable global investors to trade them, and issue domestic stablecoins to expand the adoption of local fiat currencies on blockchain networks.
10. North Korean Hackers Deliver Malware via GitHub Repositories & VS Code Exploits link
Proofpoint’s report states that North Korea-linked hackers are targeting developers with phishing lures themed around job recruitment and code reviews, hitting nearly 100 organizations across finance, crypto, education and technology sectors. Attackers send emails tricking victims into cloning malicious GitHub repositories and opening the projects in VS Code or Cursor to trigger cross-platform malicious code execution. Proofpoint has named this campaign UNK_DeadDrop, noting it leverages VS Code’s folderOpen auto-execution feature and installs malicious extensions masquerading as Google services to steal data including browser wallet extensions, desktop wallets and credentials.
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Adam Back: Strategy Selling BTC to Pay Dividends Is Not a Bearish Signal
Blockstream CEO Adam Back said in a Bloomberg interview that concerns over Strategy’s sale of 32 BTC to pay preferred stock dividends are overblown. Back argued the move demonstrates Strategy’s ability to meet investor obligations using Bitcoin while reducing leverage, rather than signaling weakness in its Bitcoin treasury strategy.

U.S. Spot Bitcoin ETFs See Record $6.35B Outflow Over 30 Days
According to Galaxy Research, U.S. spot Bitcoin ETFs have posted their largest 30-day net outflow on record. Data shows the funds saw $6.35 billion in net outflows over the past 30 days, ranking first across all 582 rolling 30-day windows tracked by Galaxy Research and highlighting continued institutional outflows.

Japan Corporate Pension Fund to Allocate 1% of Assets to Crypto in FY2026
Japan's National Commercial Enterprise Pension Fund plans to begin investing in cryptocurrencies in fiscal 2026, with crypto expected to account for about 1% of its total assets. The fund covers around 1,200 SMEs and manages about 21.3 billion yen, or $136 million. It reportedly plans to invest through a passive multi-crypto fund managed by a major hedge fund, mainly to diversify currency risk.

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Ripple CEO Blasts JPMorgan: Intentional misrepresentation to protect profits
On June 11, 2026, Ripple CEO Brad Garlinghouse responded to JPMorgan CEO Jamie Dimon's opposition to the Clarity Act during an interview on Fox Business. Garlinghouse stated that Dimon has been dismissing the crypto industry for decades, calling it a Ponzi scheme and Bitcoin a "pet rock."
He believes that since JPMorgan generates $20 billion in revenue and over $5 billion in profit from its payments business, Dimon's attempt to block the bill is essentially to dig a deeper moat to protect this highly profitable business and maintain the status quo. Furthermore, Garlinghouse believes Dimon's claim that the bill would reduce compliance requirements is completely untrue, characterizing it as either an intentional misrepresentation or highly negligent to make support for the act go away.

Pump fun's New Crypto Bounty Feature Under Fire Over Humiliating and Risky Stunts
According to the New York Post, meme coin launchpad Pump fun has drawn criticism over its new bounty feature, which allows users to post tasks and reward participants with crypto. Since launching on June 4, the feature has paid out more than $370,000, with around 270 open bounties still offering over $200,000 in rewards.
Some tasks reportedly involve forehead tattoos, putting one's face in a toilet, quitting a job on camera, and even climbing Mount Everest. One man in the Philippines earned $15,000 in crypto for tattooing "bounty fun" on his forehead. The feature has also drawn criticism from New York Governor Kathy Hochul and X head of product Nikita Bier.

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Michael Saylor: I Designed STRC With AI （ARCHIVE FOOTAGE）
Strategy founder Michael Saylor said in a December 20, 2025 interview with CoinDesk that STRC (Stretch), a treasury credit instrument, was largely designed with the help of AI. He said he spent several hours discussing the product structure with AI and wanted to create a monthly preferred stock that could remain stable at 100.
According to Saylor, AI told him no one in history had done anything similar, but that the structure was "totally legal" and "totally reasonable." Recently, STRC's depegging has drawn continued community attention, after it fell as low as $82.7 and closed at $88.8.

Ethereum's Well-Known MEV Bot JaredFromSubway Exploited, Suffers $7.5 Million Loss
Blockchain security firm Blockaid reported that Ethereum MEV bot JaredFromSubway lost approximately $7.5 million after attacker-controlled contracts tricked its automated execution system into granting token approvals. The attacker later used the remaining allowances to drain WETH, USDC and USDT from the bot. Blockaid said the incident was not a phishing attack or smart-contract vulnerability, but an exploitation of the bot’s automated MEV opportunity detection and approval mechanism.

MainStreet-Related MSUSD Drops 85%, Morpho Market Hits 100% Utilization Amid Liquidity Concerns
According to PeckShield, MainStreet Finance-related token MSUSD fell as much as 85%, while the Morpho msY/USDC market reached 100% utilization. AlphaUSDC Delta V2, curated by AlphaPING, has approximately 30% exposure, or about $18 million, to the market.
The sell-off follows Accountable’s termination of its verification agreement with MainStreet Finance. In response, MainStreet said its assets remain fully backed and that the issue stems from the shutdown of a third-party proof-of-reserves dashboard rather than insolvency. The protocol said it has already deployed over $8 million USDC to support liquidity and is seeking alternative proof-of-reserves providers.

Ray Dalio: Markets highly concentrated in AI leaders, warns U.S. equities may see -5% to -10% real returns over 5–10 years
Bridgewater founder Ray Dalio said markets are currently highly concentrated in a small group of large AI-related companies, amid uncertainty across Dalio’s “five forces,” including debt and monetary conditions, political and geopolitical developments, natural events, and technological change.
He noted that historical technology cycles tend to feature elevated valuations, high volatility, and unclear long-term winners, making concentrated positioning difficult to justify. Dalio warned that U.S. equities could generate real returns of roughly -5% to -10% over the next 5–10 years, and said investors should avoid excessive concentration and instead build well-diversified, risk-balanced portfolios to improve risk-adjusted returns in a highly uncertain macro environment.

Iran Announced the Renewed Closure of the Strait of Hormuz Over the Lebanon Conflict
In a statement broadcast on state television, Iran’s Central Military Command announced it would once again close the strategically important Strait of Hormuz, citing what it described as Israeli violations of the ceasefire in Lebanon and the United States’ failure to fulfill the first provision of a preliminary agreement aimed at ending the war.
The statement said the closure represents an initial response to what Iran called breaches of commitments by its adversaries. Earlier, U.S. President Donald Trump and Iranian President Masoud Pezeshkian had signed a preliminary ceasefire agreement. Follow-up talks scheduled for Friday in Switzerland were indefinitely postponed after a new wave of Israeli airstrikes in southern Lebanon reportedly killed at least 16 people.

At Least Eight Senior Ethereum Foundation Members Have Departed in Five Months
According to Unchained, Ethereum Foundation co-executive director and board member Hsiao-Wei Wang has resigned, effective Thursday. The report said the departure comes after fellow co-executive director Tomasz Stańczak also stepped down, meaning both of the foundation's co-executive directors have now left. At least eight senior members have departed the Ethereum Foundation over the past five months, raising concerns over leadership turnover and its potential impact on the foundation’s future governance.

EU AML Rules to Impose €10,000 Cash Payment Cap and Tighter Crypto KYC From 2027
The EU's new anti-money laundering regulation, Regulation (EU) 2024/1624, will apply from July 2027, introducing a bloc-wide €10,000 cap on cash payments for goods and services. It also tightens rules for crypto-asset service providers, including KYC requirements for certain occasional transactions, restrictions on anonymous crypto accounts and services linked to anonymity-enhancing coins.
The framework also expands AML coverage to high-risk sectors such as luxury goods, football clubs, crowdfunding and investment migration, while strengthening beneficial ownership transparency.

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CFTC Chair: Paving the Way for On-Chain Markets Like Hyperliquid to Come Onshore
On June 15, 2026, CFTC Chairman Mike Selig discussed the regulatory pathway for bringing decentralized perpetual contract platforms like Hyperliquid to the United States on the Bankless podcast. He stated that blockchain technology and 24/7 trading models are transforming market operations, and regulators should lean into the future rather than rigidly applying outdated 1934 exchange rules.
Selig believes that while on-chain mechanisms like auto-deleveraging introduce new considerations, the CFTC is actively working to tailor regulations for these new products and platforms. He expressed that the core objective is to create a compliant path that keeps the new frontier of finance building and flourishing within the US, provided that investor funds are protected and adequate disclosures are ensured.

WSJ: Charles Schwab, One of America’s Largest Brokerages, Plans Prediction-Market-Like Binary Options Offering
According to The Wall Street Journal, Charles Schwab, one of the largest brokerage firms in the United States, is working with Cboe Global Markets to launch all-or-nothing binary options that allow customers to place yes-or-no wagers on the performance of the S&P 500. While the contracts differ structurally from event contracts offered by platforms such as Kalshi and Polymarket, they function in a similar way, paying a fixed cash settlement or nothing depending on whether the index closes above or below a target level. The products are expected to roll out in the coming months.

One of China’s Biggest Bitcoin-Holding Miners Is Buying BTC and ETH
According to onchain analyst @ai_9684xtpa, addresses linked to F2Pool co-founder Wang Chun appear to be building positions in ETH and WBTC. Over the past four hours, the address 0xF42…f2b51 withdrew 7,650 ETH and 124.18 WBTC from Binance, worth about $20.67 million in total, and has deposited the assets into Spark.

Decrypt: Hackers Exploit Steam’s Popular Wallpaper Engine to Spread Crypto-Stealing Malware
Attackers are abusing Steam Workshop through Wallpaper Engine, one of Steam’s most popular live-wallpaper apps, to distribute malicious downloads disguised as animated wallpapers, many using anime-style female characters as covers and some reaching thousands or tens of thousands of installs. Kaspersky said the malicious wallpapers can steal Steam credentials, hijack account sessions and deliver infostealers such as Lumma and Vidar, targeting browser data, login credentials and crypto wallet information.

Prominent Memecoin KOL Murad Still Holds as Portfolio Falls 83.5% From Peak
Murad, the former Adaptive Capital co-founder and one of the most prominent meme coin advocates, still holds all the meme coins from a public list he shared two years ago. His onchain net worth peaked at $67 million last July but has since fallen to about $11 million, down 83.5%. Despite the sharp drawdown, he has not sold the related holdings.

1. Bitcoin Trades Below Production Cost for 5 Straight Months; 20% Miners Run at Loss link
JPMorgan stated that the economics of Bitcoin mining have continued to deteriorate since 2026. Bitcoin prices have remained below its estimated production cost of approximately $78,000 for five consecutive months, with roughly 20% of miners currently operating at a loss. The report noted that miners are becoming more sensitive to price fluctuations. When prices fall below production costs, high-cost miners shut down their rigs, driving down the network’s total hash rate and mining difficulty. Burdened by operational pressures, listed mining firms sold over 32,000 BTC in aggregate during the first quarter of 2026 to cover operating expenses, exceeding their total sales volume for the entire year of 2025. JPMorgan projected that volatility in hash rate and mining difficulty will remain frequent and substantial as long as Bitcoin prices stay under production costs.
2. Ethereum Glamsterdam Upgrade Enters Final Devnet Testing, Mainnet Launch Slated for H2 link
Ethereum core developers have entered the final sprint phase for the next major network upgrade “Glamsterdam”. Teams have begun full testing of the fork version containing all planned Ethereum Improvement Proposals (EIPs) on closed developer networks (devnets), marking the last development stage before code freezing and deployment to public testnets. Parithosh Jayanthi, DevOps engineer and core developer at the Ethereum Foundation, stated that while an exact activation timeline has not yet been finalized, tremendous progress has been made and the upgrade is expected to launch officially in the second half of 2026.
Following the Glamsterdam upgrade, Ethereum’s Gas Limit will be drastically raised from the current 60 million to around 200 million. This translates to a more than threefold increase in L1 execution capacity, with an anticipated further doubling shortly thereafter.
3. Michael Saylor States STRC Is AI-Engineered Product; Ticker Slumps to $82.7 Intraday link
In an interview with CoinDesk, Michael Saylor stated that STRC, the “Stretch” variable-rate perpetual preferred stock issued by the company, is a product he developed with AI assistance:
“I designed all of this using AI, you know, I couldn’t have done it on my own. I truly mean it, I leveraged artificial intelligence. I spent hours back and forth discussing this with the AI, just like the rest of us, arguing with it and learning how to design these various instruments, asking it ‘Can I do this?’ ‘Can I structure it that way?’ At a certain point, I said: ‘I want a dividend-priority product that distributes monthly, and I want its price to anchor steadily at 100.’ The AI responded, ‘You can structure it like this, this and this.’ I asked, ‘Has anyone built anything like this before?’ It scanned for ten minutes and told me: ‘No entity has ever created this instrument in human history, yet it is fully compliant and entirely viable.’”
The decoupling of STRC from its $100 par value has drawn sustained attention from the community. The share plunged to an intraday low of $82.7 in early Friday trading and closed at $88.8.
Matt Cole, CEO of Strive, posted on social media that the day marked the most challenging session in Digital Credit’s history. STRC tumbled as low as $82.50 before staging a sharp rebound, while SATA dropped from par to the low $90s and subsequently recovered. He attributed the volatility to leveraged liquidations rather than deterioration in underlying credit quality, explaining that forced sell-offs triggered cascading selling pressure, yet the issuer’s credit fundamentals remained robust. Cole noted Strive’s dividend reserves stayed intact with no financial strain on the firm, and substantial buying interest emerged near the intraday lows for both STRC and SATA, emphasizing that liquidation events are distinct from credit crises.
On May 23, Phong Le, CEO of Strategy, published a post stating that STRC, the company’s tradable preferred stock, had grown from zero to a market capitalization of $10.5 billion within 10 months, making it the world’s largest tradable preferred stock with a valuation more than twice that of the second-largest peer. The attached chart showed Wells Fargo’s preferred stock WFC/PL, the second-ranked instrument, with a market cap of approximately $4.7 billion.
4. Fed Holds Rates Steady; Half Officials Foresee At Least One Hike This Year link
The Federal Open Market Committee (FOMC) voted unanimously 12–0 to keep the target range for the federal funds rate unchanged at 3.50%–3.75%. The statement noted that despite heightened uncertainty stemming from events in the Middle East, U.S. economic activity continues to expand solidly, with robust productivity growth and capital investment. Employment gains have roughly matched labor force expansion, while the unemployment rate has seen little movement.
During the meeting, Warsh adopted a communication style distinct from former Chair Powell’s plain-spoken approach, employing a more politicized tone laced with industry jargon. He frequently referenced “first principles,” “alternative frameworks,” and the Fed’s statutory remit. Warsh disclosed that he was the sole Fed official who declined to submit projections for future borrowing costs in the dot plot, and reaffirmed that the Fed’s core priority going forward is price stability. To address prior market concerns that he might act as a puppet pressured by President Trump to cut rates, Warsh sent an indirect signal by refusing to pre-judge rate paths and offering vague remarks on inflation reduction. Following the press conference, Trump reacted tepidly to the Fed’s decision to hold rates steady yet voiced his support for Warsh.
Nick Timiraos, reporter at The Wall Street Journal, stated that the Fed’s latest dot plot reveals a distinctly hawkish tilt. Nine out of 18 officials expect at least one rate hike this year, six of whom project multiple hikes; only one official forecasts a rate cut in 2026, while another declined to submit a Summary of Economic Projections (SEP). Timiraos also pointed out that the full FOMC statement underwent an almost complete rewrite and was significantly shortened relative to prior editions.
5. EU MiCA Transition Period Ends July 1; 75% Crypto Firms Risk Losing Operating Licenses link
The transition period of the EU Markets in Crypto-Assets Regulation (MiCA) will expire on July 1. Cryptocurrency exchanges, brokerages and wallet service providers without MiCA licenses will no longer be allowed to offer services to EU users starting from that date. Data shows that only 194 crypto firms across the EU held valid licenses as of May 2026, compared with more than 3,000 crypto entities registered for operations back in 2024. Approximately 75 percent of existing firms are projected to lose their operating eligibility. Unlicensed platforms must halt new deposits, guide users to withdraw assets or transfer holdings to licensed service providers. Regulators in some member states will also enforce measures including website blocks and public warning lists.
According to registry data from the European Securities and Markets Authority (ESMA), merely around 200 entities have obtained authorization as Crypto Asset Service Providers (CASPs), a figure far below the market scale prior to MiCA’s rollout. Industry insiders argue that high compliance costs and cumbersome approval procedures are likely to trigger industry consolidation and accelerate merger and acquisition activity across the sector.
6. Binance Spokesman Responds to Greece License Rejection Rumors: Regulator Has Not Raised Formal Objections link
Binance is poised to lose the authorization to serve EU clients as its license application filed in Greece is set to be rejected. Binance stated it believes it has satisfied all relevant criteria to obtain MiCA authorization within the EU. The exchange has maintained constructive communications with regulators over the past 18 months and completed the full formal application process with Greek regulators. It holds the view that it meets all MiCA requirements and has learned that the regulator has finished its review and deemed the application compliant, with the Hellenic Capital Market Commission yet to issue any formal objection. The Hellenic Capital Market Commission noted it could not comment on the matter at this stage due to confidentiality rules. If Binance fails to secure the license, it will be unable to operate legally across the EU starting July.
7. Venezuela P2P USDT Surges 16% Over Past 30 Days link
USDT has risen roughly 16% on Venezuela’s local P2P markets over the past 30 days, climbing from around 690 bolívares to an intraday high of more than 800 bolívares. Domestic currency liquidity in Venezuela expanded by about 23.26% over the same period, with a year-to-date increase exceeding 131%. Reports state that rapid expansion of bolívar supply, insufficient US dollar liquidity in banks, and foreign exchange purchase restrictions have pushed enterprises and residents to buy USDT via P2P platforms such as Binance to preserve wealth. As local merchants reference USDT prices for daily pricing, the widening stablecoin premium is passing through to prices of goods and services.
8. SBF Takes Daily Medication for Clinical Depression; Cellmate Claims He May Launch New Token Post-Release link
According to New York Magazine, new details have emerged about Sam Bankman-Fried (SBF), founder of collapsed crypto exchange FTX, who is serving a 25-year sentence at the Federal Correctional Institution Lompoc in California. The 34-year-old takes daily Adderall to manage clinical depression and ADHD, and is writing a serialized prison memoir titled Manfred from his cell.
He has opted for an independent, non-gang status after refusing to abide by the rules of The Woods, the white inmate gang, while continuing to play cards and chess with prisoners from other racial groups including The Black. When his cellmate David Bunevacz asked about his plans post-release, SBF claimed he would need a startup fund of $50 million or $100 million to launch a legitimate large-scale business, and asserted, “I’m gonna start my own coin when I get out, and everyone’s gonna flood to it.” Bunevacz later remarked, “He’s probably joking, and they’re probably not gonna flood to it. But who knows.”
SBF formally filed a petition for a presidential pardon with the Trump administration on June 8 this year. Immediately afterward, the implied odds of him receiving clemency on prediction market Polymarket doubled to 14%.
9. First Batch of Spot HYPE ETFs Hit $900M Cumulative Volume, $153M Net Inflows in One Month link
Roughly one month after the debut of the first spot HYPE ETFs, their cumulative trading volume has neared $900 million, with aggregate net inflows standing at around $153 million. Three products are currently available in the market: THYP from 21Shares, BHYP from Bitwise, and HYPG from Grayscale. All three hold HYPE directly and distribute staking yields to investors. Data shows the current annualized staking yield of HYPE is approximately 2.25%, with 434 million HYPE tokens staked, accounting for roughly 45% of the total stakable supply. BHYP and THYP generate the bulk of trading activity, while HYPG, launched later, remains in the capital accumulation phase.
Binance founder CZ commented on Hyperliquid during the Galaxy Brains podcast, stating, “I think Hyperliquid’s innovation is actually awesome.” CZ said Hyperliquid occupies a niche market that Binance cannot easily compete in, as it requires no KYC and brands itself a decentralized platform. At the same time, CZ noted he would not adopt Hyperliquid’s current operational model given his past experience, adding, “I guess they have a very good legal team.”
10. Altcoin Spot Selling Pressure Hits Five-Year Extreme Level link
According to IT Tech, an analyst at CryptoQuant, selling pressure on altcoins on spot exchanges has hit an extreme five-year high, with the spot market logging net outflows for 15 consecutive months. The cumulative buy-sell volume differential for altcoins excluding BTC and ETH has slumped to its deepest negative reading since data tracking began in 2020. The indicator hovered near neutral levels in early 2025 before swinging sharply negative and trending downward ever since.
Data from Binance Research shows that massive TVL contraction stemming from roughly $13 billion in capital outflows triggered by DeFi exploits in April has passively pushed the on-chain leverage ratio to approximately 38%, matching levels last seen in 2021. The uptick in the ratio does not reflect a genuine recovery in borrowing demand, and no meaningful deleveraging has materialized despite the recent market pullback.。
Fundraising
Galaxy Ventures co-led Karta’s $140 million Series A financing round. link
Instant payments platform Interchecks announced the completion of a $50 million Series C financing round. link
EarnOS closed a $6 million Pre-A round led by 1kx. link
Latin American cross-border payments app El Dorado secured $9 million Series A financing with Paradigm as the lead investor. link
APEC, a perpetual futures exchange founded by the son of U.S. Senator Gillibrand, raised $30 million in funding. link
Renaiss completed a $1.5 million seed round led by YZi Labs. link
Raised $8.3 million Series A financing co-led by TX Ventures and SixThirty. link
African payment infrastructure firm Flutterwave announced a strategic investment from Ripple. link
Coinbase Ventures made a strategic investment in Multipli via its Base Ecosystem Fund. link
Lite Strategy led a $1 million strategic investment in ZK Innovations to support LitVM’s development of a zero-knowledge Layer 2 network for Litecoin. link
Learn more, check out crypto-fundraising.info.
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