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Türkiye-based digital asset platform Paribu has evolved into a multi-product, multi-asset investment app, launching DeFi access covering DEX trading, Hyperliquid onchain perpetuals, and Polymarket prediction markets, while opening a waitlist for stock trading. Paribu said it is the first regulated exchange to offer access to both Hyperliquid perpetuals and Polymarket prediction markets within a CEX interface. Its brokerage arm has received establishment authorization from Türkiye’s Capital Markets Board and is awaiting an operating license to offer trading in NYSE, Nasdaq, and Borsa Istanbul-listed stocks.

He said: Large groups of large companies coordinate poorly, have misaligned incentives, slow things down and rarely create the space for real durable innovation and competitiveness. They also typically, out of their own self-interest, starve the consortium itself on an operating basis.
But oftentimes when these get formed, everyone feels like they should put their logo on the list, kiss the ring, and make noise about openness.

Ethereum Institutional announced its launch as an independent non-profit focused on accelerating institutional adoption of Ethereum, its L2s, applications and broader ecosystem. Its focus areas include institutional engagement, institutional intelligence, Ethereum ecosystem and ETH marketing, industry requirements, and events. BitMine, SharpLink and Joseph Lubin are its anchor funders.

TL;DR:
· Open Standard announced the launch of Open USD (OUSD), a U.S. dollar stablecoin. According to Reuters, the project brings together more than 140 companies, including payment, financial, technology and crypto firms such as Visa, Mastercard and Coinbase. Open USD is still at the announcement stage, with the official launch expected later this year.
· Open USD’s core design includes zero-fee minting and redemption, no issuance cap, reserve income sharing with partners, and neutral governance. This model contrasts with Circle’s business model, which relies heavily on income generated from USDC reserve assets.
· Following the Open USD announcement, CRCL closed at $62.63 on June 30 U.S. local time, down about 17.52% for the day. The market is focused on whether Open USD could weaken USDC’s distribution advantage and shift stablecoin economics from issuers to distributors such as payment networks, exchanges, wallets and merchant platforms.
· Market views remain divided. Some believe Open USD’s institutional lineup and revenue-sharing mechanism could put pressure on Circle. Others argue that consortium-backed stablecoins still face challenges including liquidity cold starts, insufficient trading pairs, governance efficiency and real-world adoption, making it difficult for them to directly challenge USDC and USDT in the short term.
Open Standard Announces Open USD
On the evening of June 30 Beijing time, Open Standard announced the launch of Open USD (OUSD), a U.S. dollar stablecoin. Reuters reported that Open Standard brings together more than 140 companies and will issue Open USD, a stablecoin pegged to the U.S. dollar. The stablecoin is still at the announcement stage, with the official launch expected later this year.
Open Standard founder and CEO Zach Abrams said that existing stablecoins have their advantages, but for enterprises to use stablecoins at scale, they need a product that is open, low-cost, high-throughput, broadly accessible and aligned with their own interests. Reuters reported that Open USD will allow enterprises to mint and redeem at no cost, without issuance caps, and that income generated from Open USD’s reserve assets will be shared with participants after management fees are deducted.
Participants Span Payments, Banking, Technology and Crypto
The participants disclosed by Open Standard cover payments, fintech, traditional finance, technology, e-commerce and crypto. Reuters reported that the consortium includes companies such as Visa, Mastercard and Coinbase. CoinDesk reported that Stripe, Coinbase, Mastercard, Visa and BlackRock are among the project’s launch partners.
The Wall Street Journal reported that companies including BlackRock, Google, Coinbase, Visa, Stripe and Mastercard are involved, and that Open USD plans to be available on Base, Solana and other networks. It is important to note that being listed as a participant does not mean that product integration has already been completed. A more cautious way to describe the situation is that these institutions have joined the Open Standard or Open USD ecosystem and may cooperate in areas such as stablecoin issuance, payments, settlement, merchant services, trading and on-chain applications in the future.
Open USD’s Core Mechanisms: Zero Fees, Revenue Sharing and Consortium Governance
The first core mechanism of Open USD is zero-fee minting and redemption. Reuters reported that Open USD will allow enterprises to mint and redeem at no cost and without issuance caps. This design is mainly aimed at enterprise payment, settlement and treasury management use cases.
The second mechanism is reserve income sharing. Reuters reported that income generated from Open USD’s reserve assets will be shared with participants after management fees are deducted. CoinDesk also reported that Open Standard’s Open USD allows partners to retain reserve income and removes minting fees, a design that challenges Circle’s USDC model.
The third mechanism is consortium governance. Reuters reported that Open Standard hopes to expand stablecoin usage through openness, low costs and neutral governance. For payment companies, exchanges, banks, e-commerce platforms and on-chain applications, this means they may not only be users of the stablecoin, but also participants in its economics and governance.
Why Could Open USD Put Pressure on Circle?
After Open USD was announced, the market’s attention quickly turned to Circle. The reason is that Circle is the issuer of USDC, one of the most important U.S. dollar stablecoins in the market. Reserve income accounts for a very high share of Circle’s revenue structure. Open USD’s revenue-sharing model directly touches Circle’s core source of income.
Circle’s first-quarter 2026 financial results showed that USDC in circulation stood at $77 billion at the end of the quarter, up 28% year-on-year. USDC’s on-chain transaction volume in the first quarter reached $21.5 trillion, up 263% year-on-year. During the same quarter, Circle’s total revenue and reserve income reached $694 million, up 20% year-on-year, while reserve income was $653 million, up 17% year-on-year. Circle also disclosed that total distribution, transaction and other costs reached $407 million in the quarter, up 17% year-on-year, mainly due to higher distribution payments.
These figures show that Circle’s revenue is closely tied to USDC circulation and the income generated by reserve assets. If Open USD allocates more reserve income to partners, the market may reassess how stablecoin economics are distributed across the industry. For investors, the key question is not whether Open USD will replace USDC in the short term, but whether stablecoin reserve income will shift from issuers to payment networks, exchanges, wallets, e-commerce platforms and other distribution channels.
CoinDesk reported that Open USD’s threat to Circle lies in its challenge to Circle’s business model. According to CoinDesk, Circle mainly relies on retaining interest income from USDC reserve assets, while Open USD plans to distribute that income to partners. CoinDesk also cited Dragonfly general partner Rob Hadick as saying that Open USD’s partner list points to a real threat to Circle’s business.
CRCL Falls 17.52% in One Day
Following the Open USD announcement, Circle’s share price fell sharply. Market data showed that Circle Internet Group (CRCL) closed at $62.63 on June 30 U.S. local time, down about 17.52% from the previous trading day.
The Block reported that Circle’s shares fell more than 16% after the Open USD announcement. The report said investors were assessing the potential competitive pressure that Open USD could bring to USDC. The Block also cited William Blair analysts as saying that market concerns over Open USD may be overstated, and that Circle’s first-mover advantage, liquidity and payment infrastructure still leave it in a strong position.
CoinDesk also reported that the emergence of Open USD will intensify market scrutiny of Circle’s economic model and its relationship with Coinbase. It also shows that stablecoin competition is shifting toward distribution platforms such as exchanges, payment processors and wallets. In addition to business competition concerns triggered by Open USD, some reports also mentioned that index adjustments may have affected short-term trading in CRCL. However, based on reports from Reuters, CoinDesk and The Block, Open USD remained one of the main market narratives of the day.
Coinbase’s Role Draws Attention
Coinbase’s presence on Open USD’s participant list has also attracted market attention. Coinbase has long been an important USDC partner and distribution channel. CoinDesk reported that Circle and Coinbase previously co-founded the Centre Consortium to promote the issuance of USDC and share economic benefits related to USDC reserve income under commercial agreements. With Coinbase also appearing on the Open USD partner list, the market has started to take another look at the relationship between Circle and Coinbase.
However, Coinbase’s participation in Open Standard should not be directly interpreted as “abandoning USDC.” A more cautious interpretation is that Coinbase is also participating in the Open USD ecosystem, which means it may offer customers more stablecoin infrastructure options in the future. For Circle, Coinbase matters because of its role in distribution and liquidity. If Coinbase supports more U.S. dollar stablecoins in the future, or if economic interests are reallocated under partnership agreements, USDC’s default distribution advantage may be reassessed by the market.
Circle Responds to Stablecoin Competition
After the Open USD announcement, Circle co-founder and CEO Jeremy Allaire responded to stablecoin competition. The Block reported that Allaire said Circle welcomes competition and will continue to expand the USDC ecosystem. The Block also said Allaire stated that Circle will continue investing in partnerships with banks, payment companies, capital markets institutions and enterprises, while giving partners more ways to become economic stakeholders in the growth of the USDC network.
This response suggests that Circle does not view Open USD as an immediate direct threat, but instead places it within the broader context of stablecoin industry expansion and intensifying competition. Allaire’s remarks about allowing partners to participate more broadly in the economics of USDC network growth also show that partner incentives have become an important variable in stablecoin competition.
Market Views Remain Divided
Those who see Open USD as a threat argue that the project has a strong group of partners and that its revenue-sharing mechanism directly touches Circle’s revenue model. Reuters reported that Open Standard brings together more than 140 companies. CoinDesk said Stripe, Coinbase, Mastercard, Visa and BlackRock are among the project’s launch partners. Circle’s official financial results show that Circle’s Q1 reserve income was $653 million, compared with total revenue and reserve income of $694 million.
However, others argue that the emergence of Open USD does not mean USDC is losing ground. Some discussions in the Chinese-speaking market have noted that stablecoins are not simply about issuing a token. They require long-term liquidity, trading use cases, user mindshare and distribution channels. In the past, multiple exchanges and financial institutions have launched different stablecoins, but the only ones that have truly reached scale remain mainly USDT and USDC. Even with a strong partner list, Open USD still needs to prove that it can build trading depth, payment use cases and sustained demand.
The Block cited William Blair analysts Andrew Jeffrey and Adib Choudhury as saying that market concerns over Open USD are overstated. The two analysts said that competition in the stablecoin market is inevitable and also validates the potential of the sector. However, USDC still has a large market capitalization, deep liquidity and payment infrastructure such as Circle Payments Network, making Circle’s model difficult for new entrants to replicate.
ARK Invest research director Lorenzo Valente also expressed skepticism toward Open USD. He argued that consortium-style stablecoins first face the challenge of a liquidity cold start, making it difficult to quickly build trading depth close to that of USDC and USDT. They also lack a large number of trading pairs with the existing mainstream crypto market. Valente also believes that consortium governance could affect decision-making efficiency. If participants are both partners and competitors, the project may be less flexible than single-decision-maker entities such as Circle and Tether when it comes to incentive distribution, product adjustments and market response.
Another area of debate in the Chinese-speaking market centers on Circle’s own moat. Some argue that Circle should not be simply compared with Visa or Mastercard, whose core revenue comes from payment networks and transaction rails, while Circle’s main revenue comes from income generated by USDC reserve assets. Others argue that the truly difficult part of building a stablecoin business is not just issuance, but acceptance, clearing, payment networks and financial channels. Banks and payment companies have natural advantages in enterprise accounts, cross-border settlement, merchant networks and U.S. dollar on- and off-ramps. Another view is that CRCL’s sharp decline and the participation of more than 100 institutions in a stablecoin project show that the stablecoin sector may be reshaped over the long term by regulation and traditional finance. The future stablecoin landscape will be determined not only by issuance scale, but also by regulation, use cases and demand from within the crypto ecosystem.
Real Adoption Still Needs to Be Watched
Open USD still has several key details that have not been fully disclosed. Reuters reported that Open USD is expected to launch later this year. The Wall Street Journal reported that Open USD plans to be available on Base, Solana and other networks. However, key issues still need to be clarified, including the issuing entity, compliance framework, reserve custody arrangements, redemption process, revenue-sharing rules, governance weights and how partners will integrate Open USD into their own products.
For stablecoins, a partner list is only the first step. Whether a stablecoin can reach scale depends not only on whether major companies are backing it, but also on whether it can secure sufficient exchange liquidity, wallet support, merchant settlement use cases, DeFi integrations, cross-border payment demand and regulatory recognition. USDC and USDT’s advantages come from years of accumulated liquidity, trading pairs, user habits and institutional use cases. Open USD will need to prove itself gradually across all of these areas.
CRCL’s decline on June 30 should not be simply interpreted as the market concluding that USDC will be replaced by Open USD. A more accurate reading is that Open USD has brought Circle’s core business model back under market scrutiny. Going forward, investors will need to watch Open USD’s issuance scale, redemption efficiency, exchange liquidity, merchant integrations and on-chain usage after its launch later this year, as well as whether USDC’s distribution channels and institutional adoption are affected.
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According to CoinPost, LINE NEXT, a LINE Yahoo affiliate with access to 300 million users, plans to launch Unifi Pay globally in Q3 and has opened pre-registration for developers. Built on the Unifi stablecoin wallet, Unifi Pay supports USDT, JPYC and IDRP. Users in Japan and Indonesia will be able to directly top up JPYC or IDRP from bank accounts after online identity verification. LINE NEXT said Unifi Pay offers zero payment fees, an average settlement speed of about one second, and an SDK that allows developers to build a payment page in about 10 minutes. Its beta version processed 100 billion KRW over the past year.

According to CryptoRank, public token sales in Q2 2026 recorded only 47 ICOs, IDOs and IEOs, raising $40 million, the lowest quarterly level in the past four years. Compared with the cycle peak, capital raised from public token sales fell 95.3%, while the number of sales dropped 90.5%.

According to Reuters, Citi cut its 12-month forecasts for bitcoin and ether, lowering its bitcoin target from $112,000 to $82,000 and its ether target from $3,175 to $2,240. Citi also reduced its expected ETF net inflows over the next 12 months from $10 billion to zero, citing recently negative ETF flows, about $3.3 billion in bitcoin ETF outflows so far this year, slow progress on U.S. crypto legislation, and concerns over potential bitcoin selling by digital asset treasury companies.

BNB Chain said that as the EU's Markets in Crypto-Assets (MiCA) regulation officially takes effect on July 1, some crypto exchanges are adjusting their operations in the EU. In response, BNB Chain has published a guide to help users migrate from centralized exchanges to on-chain services.
The guide covers token swaps, staking yields, stablecoin usage, and DeFi activities such as lending on BNB Chain. It also reminds users to securely store their seed phrases when using non-custodial wallets and to use tools such as DappBay for risk scanning and on-chain verification.

According to SoSoValue data, U.S. spot Bitcoin ETFs recorded a total net outflow of $223 million on June 30 (ET), marking the ninth consecutive day of net outflows. U.S. spot Ethereum ETFs recorded a total net outflow of $27.5996 million, also marking the ninth consecutive day of net outflows.

According to Tokenomist, major one-time token unlocks (worth more than $10 million each) over the next month include HYPE, PUMP, H, ZRO, CONX, ENA, and KAITO. Major linear unlocks (with monthly unlocks exceeding $10 million) include RAIN, LAB, SOL, CC, WLD, TRUMP, ASTER, TAO, MORPHO, AVAX, ZEC, JTO, and NEAR, with the total value of all scheduled unlocks exceeding $1.988 billion.

According to Simply Wall St, Circle (NYSE: CRCL) was removed from several major Russell Growth Indexes during the Russell annual reconstitution on June 26, including the Russell 1000 Growth Index, Russell 3000 Growth Index, and Russell Midcap Growth Index. The move could prompt institutions and passive funds tracking these benchmarks to reduce their holdings, potentially impacting the stock's trading liquidity.
Simply Wall St noted that CRCL shares have fallen 32.8% over the past 30 days, likely reflecting selling pressure from the index rebalancing. Separately, CRCL fell to $62 today, down 16.55% over the past 24 hours, following news that competitor Open Standard launched the alliance stablecoin Open USD.

According to Bloomberg, U.S. President Donald Trump disclosed in his latest annual financial filing that he earned at least $1.4 billion from cryptocurrency-related businesses in 2025, making crypto his largest source of income. The filing shows that World Liberty Financial token sales generated more than $588 million, CIC Digital LLC brought in about $636 million mainly from Celebration Coins royalty agreements, and Trump received nearly $197 million from selling a stake in Stablecoin Holdco. The disclosure has renewed conflict-of-interest concerns, as Trump has not divested the assets or placed them in a blind trust.

According to Bloomberg, U.S. President Donald Trump disclosed in his latest annual financial filing that he earned at least $1.4 billion from cryptocurrency-related businesses in 2025, making crypto his largest source of income. The filing shows that World Liberty Financial token sales generated more than $588 million, CIC Digital LLC brought in about $636 million mainly from Celebration Coins royalty agreements, and Trump received nearly $197 million from selling a stake in Stablecoin Holdco. The disclosure has renewed conflict-of-interest concerns, as Trump has not divested the assets or placed them in a blind trust.

Wintermute said in its latest report that the crypto selloff was driven by the fading AI trade, Nasdaq weakness, a stronger dollar and higher-for-longer rate expectations. BTC fell 5.9% this week, briefly breaking below $60,000 and touching its 200-week moving average, while ETH dropped 7.9%.
Wintermute said sentiment and on-chain data show capitulation is underway, but ETF outflows and weak treasury/stablecoin buying suggest the market has not yet confirmed a bottom. The report also warned that new liquidity may flow into AI equities before crypto, while Strategy's new BTC monetization framework shows the "permanent bid" from treasury companies is becoming conditional.

Facilitated through Pareto and curated by M11 Credit, the vault provides exposure to overcollateralized loans originated through the FalconX prime brokerage platform. With a capacity to scale to $1 billion, it opens access and exposure to RWA strategies through compliant, programmable vaults that were previously inaccessible.

Written by: GaryMa, Wu Blockchain
The WuBlockchain summarizes key developments in the blockchain technology space for June:
Bitcoin
Bitcoin Core published a post disclosing a privacy vulnerability in the newly introduced -privatebroadcast feature of version 31.0. Under specific network conditions, this flaw could potentially expose the transaction initiator’s IP address to the receiving node; a fix will be released with version 31.1. The vulnerability occurs when the private broadcast selects an IPv4 or IPv6 node that supports BIP324 v2 transport. If the v2 handshake fails, Bitcoin Core falls back to retry via v1, but this reconnection bypasses the Tor proxy and connects directly to the peer via IPv4 or IPv6. The affected scope includes Bitcoin Core 31.0 nodes that have -privatebroadcast enabled, broadcast transactions via the sendrawtransaction RPC, and can establish direct IPv4/IPv6 outbound connections. Wallet RPC, onion, and I2P node connections are unaffected. Bitcoin Core advises relevant users to disable -privatebroadcast, disable v2 transport, or route IPv4/IPv6 outbound traffic through Tor before upgrading to 31.1.
Bitcoin Core v31.1rc1 has been released. This version includes multiple new features, bug fixes, performance improvements, and translation updates. Users can download the test version from the official Bitcoin Core website. One of the key fixes in this update addresses the IP address leakage issue under the PrivateBroadcast feature. Previously, under certain circumstances, relevant connections might be established over the clear web rather than the enabled privacy network. This release also includes multiple fixes across modules such as validation, P2P network, wallet migration, MuSig, build system, testing, and CI.
Bitcoin developers are discussing the removal of explicit Replace-by-Fee (RBF) signaling from the Bitcoin Core wallet. Developer rkrux stated that since full-RBF has become a standard policy, the BIP 125 RBF signal has become redundant and may leave unnecessary on-chain fingerprints for wallets. Community member Murch noted that stopping the transmission of replaceability signals is not a simple removal of “fingerprints” because each sender must still choose a sequence number for every input; currently, about 75% of transactions already use specific sequence numbers, primarily MAX-2. rkrux expressed that the default input sequence number should adopt best practices recognized by the broader wallet community.
Ethereum
Glamsterdam Upgrade: Ultimate L1 Scaling and MEV Fairness. Progress: The mainnet activation has been postponed to the second half of the year, with Devnet-5/6 iterations and counter-measures against new EIPs under development.
Hegota Upgrade: Censorship Resistance, Privacy Enhancement, and Node Slimming. Progress: Advancing steadily, tightly targeting the late 2026/early 2027 window. The team rejected EIP-8222 for mandatory private staking, fully retreating to and locking down FOCIL’s “ultimate censorship resistance” roadmap.
Ethereum researchers Thomas Coratger, Tom Wambsgans, and others published an article exploring the establishment of a post-quantum public key registry for validators. This initiative aims to drive the gradual migration of Ethereum’s Proof-of-Stake from BLS signatures to post-quantum secure signature schemes. The article states that the migration will take place in phases: first, a registry fork will allow validators to pre-register post-quantum public keys, followed by several subsequent forks before officially switching the signature mechanism. The candidate options focus heavily on the hash-based XMSS signature, which features a public key of just 52 bytes, though a single signature is approximately 3112 bytes, requiring the assistance of leanVM and post-quantum SNARK aggregation to reduce network overhead.
Tom Lehman, developer of EIP-8182 (the Ethereum native private transfer proposal), announced on X that the proposal has been officially Proposed for Inclusion (PFI) in the Hegotá hard fork upgrade. The proposal aims to introduce a non-mandatory, protocol-fee-free private transfer feature as a native mechanism directly into Ethereum’s underlying L1 protocol layer. By utilizing fixed-address system contracts and ZK verification precompiles, it allows all wallets and applications to share the same protocol-layer anonymity pool, breaking the fragmentation dilemma of traditional privacy applications. The system abandons token or multi-sig governance, relying entirely on Ethereum’s own hard fork network upgrades for smooth evolution. Currently, the proposal has entered the critical phase of vying for a spot on the Core Developers (ACD) hard fork schedule.
Consensys CEO Joseph Lubin stated that Ethereum could become a fully zero-knowledge-proof-based protocol within 3 to 5 years, thereby improving the base layer and enhancing composability between Ethereum and Layer 2. Lubin noted that Layer 2 has already achieved real-time zero-knowledge proof generation, and these capabilities will be introduced to Layer 1 in the future, ultimately driving Ethereum to shift toward a zero-knowledge proof protocol supported by multiple formally verified provers. He also mentioned that Linea, Gnosis, and others are leveraging zero-knowledge proofs to achieve synchronous composition of transactions across different networks, which could support a bridge-free, single atomic execution environment in the future to unify fragmented liquidity. Lubin added that there will not be a “second foundation”; at least three groups will spin off from the Ethereum Foundation, focusing respectively on core protocol work, usability and scalability, and institutional outreach.
Ethereum core developer Terence tweeted that Glamsterdam devnet-6 has been released, making significant progress toward the testnet. Among the updates, EIP-8282 introduces ePBS builder execution requests and includes two new system contracts. On the execution layer front, post-bal-devnet-7 work includes the addition of EIP-2780, EIP-8038 (repricing), EIP-7997, EIP-8246, EIP-8070 (optional), as well as adjustments to EIP-7954 (64 KiB), EIP-8037 (origin-based refunds), and EIP-7928 (BAL×7702 warm-up status quo maintained).
Ethereum L2s
Starknet announced the launch of STRK20, a zero-knowledge proof privacy framework, supporting any ERC20 asset within the network to achieve private balances and confidential transfer features. The framework utilizes zero-knowledge proof technology and can be applied to scenarios such as transfers, trading, lending, staking, and payments. Unlike traditional coin mixers, STRK20 embeds privacy functions directly into the asset flow process. It also introduces a Viewing Keys mechanism, allowing users to selectively disclose specific transaction information under legal requirements to balance privacy protection with compliance needs. The first asset to adopt STRK20 is strkBTC.
The Ethereum L2 network Base has deployed its second network upgrade, Beryl, to the Base Sepolia testnet, with plans for mainnet activation on June 25. This upgrade will introduce the B20 token standard, which can be used to issue stablecoins and other assets directly within the Base node software. B20 is compatible with ERC-20 and supports features such as signature authorization, minting/burning, supply caps, transfer policies, and freezing/seizure. Beryl will also shorten the standard withdrawal waiting time from Base to Ethereum from 7 days to 5 days, and introduce Reth V2 to reduce node disk footprint.
The Polygon zkEVM Mainnet Beta will officially cease operations on July 1, 2026, with only about two weeks remaining before the shutdown. Officials stated that users should withdraw their assets and LP positions from Polygon zkEVM before the deadline; otherwise, the relevant funds may become unrecoverable. According to the migration plan previously announced by Polygon, assets that are merely held in wallets and have not completed cross-chain transfers will automatically migrate to the Ethereum mainnet and can be claimed via a dedicated interface, whereas assets locked in DeFi protocols cannot be automatically migrated.
Arbitrum announced its latest product priority roadmap, shifting further from a scaling solution to infrastructure geared toward global financial markets. Key directions include dynamic Gas pricing, chain-level KYC/AML/OFAC compliance tools, privacy features, ZK-proof-based fast settlement, and the Universal Intents cross-chain standard connecting networks such as Ethereum, Solana, Hyperledger, and Canton. Additionally, Arbitrum plans to launch yield-bearing cross-chain bridges, real-time sequencer data streams, and Priority Gas Auctions (PGA) to enhance capital efficiency and institutional adoption.
Solana
Solana-related SIMD proposals are expected to advance to completion within this year. Among them, SIMD-123 has passed and is nearing the code-complete stage; the discussion draft for SIMD-547 shares essentially the same direction as SIMD-553, while both SIMD-553 and SIMD-550 have received concept ACK from Anza. If SIMD-550 and SIMD-553 are implemented together, they will increase the annual SOL inflation disinflation rate from 15% to 30%. Under current price assumptions, this could reduce token emissions by approximately $1.36 billion over six years, while boosting the average daily SOL burn from around 650 SOL (approx. $47,000) to a maximum of around 9,000 SOL (approx. $646,000).
BNB Chain
BNB Chain proposed the BEP-675 proposal, intending to remove the validator-side bid simulation process from the BSC MEV path. Instead of validators performing double execution on transactions, they will directly receive the BidBlock — where the transaction execution results are pre-calculated by the builder — and propose the block for confirmation. This mechanism shifts the complete EVM execution path from the validator side forward to the builder side, increasing the Gas limit by approximately 50% and extending the builder competition window from about 30% of the block time to about 45%.
Security
Zcash Foundation released Zebra 4.5.3 and 5.0.0 to fix a critical soundness vulnerability in the Orchard Action circuit. Zebra 4.5.3 temporarily disabled Orchard actions on the mainnet via an emergency soft fork at block height 3,363,426; Zebra 5.0.0 activated the NU6.2 hard fork network upgrade at block height 3,364,600, re-enabling Orchard with the corrected circuit. The Zcash Foundation stated that the vulnerability was discovered before any known exploitation, no unauthorized value creation was detected, and user privacy was not compromised. Sapling and transparent transactions operated normally during the incident. All Zebra node operators are advised to upgrade to 5.0.0 as soon as possible.
Algorand Foundation announced its post-quantum security roadmap, planning to achieve broader quantum resistance by the end of 2027. The roadmap shows that Algorand will introduce post-quantum accounts, multi-sig wallets, and staking support starting in 2026, subsequently expanding protection to core protocol components. The Algorand Foundation noted that migrating live blockchain infrastructure to post-quantum cryptography could take several years, making it necessary to prepare well ahead of the so-called “Q-Day” (the hypothetical point in time when quantum computers will be capable of breaking current digital asset cryptographic systems).
The SlowMist Security Team issued an alert stating that new malware variants (Shai-Hulud / Miasma / Hades) associated with the stolen developer account “czirker” have emerged in the npm ecosystem. Attackers trigger malicious code during the npm install process via a pre-configured binding.gyp file. Currently, 23 affected packages have been confirmed, among which leo-logger reaches 3,140 weekly downloads; additionally, 408 GitHub repositories containing stolen credentials have been discovered. The malicious activities involve stealing GitHub and npm tokens, cloud credentials (AWS / GCP / Azure), local environment data, and abusing GitHub Actions. SlowMist advises security teams to immediately inspect lockfiles and package records, remove relevant packages, rotate all critical keys, and enforce two-factor authentication (2FA).
Others
Microsoft unveiled its second-generation topological quantum chip, Majorana 2, at its annual Build conference. The company claimed its reliability is 1,000 times higher than the previous generation, with an average qubit lifetime of 20 seconds, and some lasting for about 1 minute. Microsoft stated that AI Agent tools helped the team accelerate material screening, automate measurements, and optimize manufacturing processes, anticipating that they will move closer to achieving scalable quantum computing by 2029. Decrypt pointed out that this progress has reignited external discussions regarding the future threat of quantum computing to Bitcoin’s digital signature security, but it does not mean that current quantum computing is capable of attacking Bitcoin.
The Ledger Donjon security research team disclosed a hardware vulnerability in the TROPIC01 chip used by Trezor Safe 7. This vulnerability allows attackers to bypass the firmware verification system via sophisticated laser attacks in a laboratory environment. Trezor stated that user funds, wallet backups, and private keys are not stored on this chip, and user funds remain unaffected. Tropic Square stated that all deployed production versions of the TROPIC01 chip are affected, and another attack path has been discovered that could affect the MAC-and-Destroy security mechanism; a hardened version of the chip is expected to launch by late 2026, with full technical details expected to be disclosed in the spring of 2027.
Zcash core developer Sean Bowe published a post updating the progress of Ironwood. Protocol developers from various organizations have held two meetings and agreed on multiple specification and implementation changes, including disabling the Orchard pool bundle in Coinbase transactions, using anchors as authentication data for the hardware wallet migration experience, and the processing order of ZIPs and specifications. Currently, the Ironwood circuit and the draft integration for ZIP 2005 are under review, and Valar Group has launched a testnet and implemented certain wallet-side changes. Sean Bowe stated that the formal verification work for Ironwood is moving forward, at least three major auditing firms are auditing Orchard, and multiple sets of AI auditing tools are checking the codebase, with progress currently going smoothly.
Zcash has finalized its Ironwood network upgrade plan, aiming for activation in July. This upgrade is designed to resolve the “infinite inflation” vulnerability crisis previously faced by the Orchard privacy pool. Ironwood will introduce a newly fixed privacy pool and gradually shut down the old one. Once the upgrade is complete, users and nodes running Zcash software will be able to aggregate balances from both the old and new pools to independently verify whether the total circulating supply of ZEC exceeds its hard cap of 21 million, thereby restoring market confidence in Zcash’s fixed supply mechanism under a decentralized premise.
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SharpLink (Nasdaq: SBET), the second-largest Ethereum treasury company, said it bought 10,000 ETH at an average price of about $1,611, bringing its total holdings to 886,725 ETH as of June 28, 2026. The company also repurchased 2.13 million shares at an average price of $4.69 and raised $75 million last week through a registered direct offering, saying its capital allocation remains focused on increasing ETH exposure per share.

Australia's crypto travel rule will take effect on July 1, requiring users of locally regulated crypto exchanges to provide additional information for both incoming and outgoing transfers, including the sender or recipient’s name and platform details. The rule, enforced by the Australian Transaction Reports and Analysis Centre (AUSTRAC), aims to improve the traceability of crypto transfers and reduce risks related to money laundering, terrorist financing and scams. Transfers to self-custody wallets will also require users to confirm ownership of the address.

More European crypto founders are exploring the UAE as the EU’s MiCA deadline approaches, with firms lacking authorization set to lose access to EU clients after July 1. Dubai-based crypto lawyer Irina Heaver said her firm now receives more than 120 inquiries a week about setting up in the UAE, about half from Europe. She warned that MiCA could drive a brain drain, tax loss and job creation away from Europe. Binance recently withdrew its MiCA application in Greece and told EU users it would suspend some services while seeking another regulatory route.