US Department of Justice Seizes $225 Million in Cryptocurrency...Related to Romance Scams
The US Department of Justice announced the seizure of cryptocurrency worth $225 million. The cryptocurrency is associated with crypto fraud and money laundering, including pig butchering scams, and is reportedly the largest single seizure to date. The US Secret Service (USSS) and FBI tracked fund flows through blockchain analysis, revealing dozens of victims across the United States. USDT issuer Tether actively cooperated in the investigation.
$67.25 Billion Worth of BTC Deposited to Spot Exchanges in the Last Hour
According to CryptoQuant Alarm, 4,635.92 BTC (worth approximately 67.25 billion won) was deposited to multiple spot exchanges in the last hour. Specifically, 3,581 BTC to Coinbase Prime, 1,039 BTC to Coinbase Advanced, and 14 BTC to Gemini. Generally, exchange deposits are interpreted as potential sell orders, while withdrawals suggest holding intentions. However, deposits do not necessarily lead to sales. CryptoQuant explained that for custody-supported exchanges, large deposits could be from custody customers.
Bank of England Plans to Introduce Cryptocurrency Exposure Regulations by Next Year
The Bank of England announced plans to introduce new regulations on banks' cryptocurrency exposure by 2026. David Bailey, Director of Prudential Policy, stated, "Cryptocurrency is an asset class where investors could lose their entire investment, so a limited approach is necessary."
US Crypto Czar: "Cryptocurrency-Related Bills Will Pass Very Quickly"
David Sacks, White House Virtual Assets and AI Policy Coordinator (Crypto Czar), told Bloomberg that cryptocurrency-related bills are expected to pass very quickly.
Deutsche Bank: "GENIUS Law Could Strengthen Dollar Dominance"
Deutsche Bank analyst Marion Laboure analyzed that the US stablecoin regulation GENIUS law could strengthen the dollar's global dominance. She explained that the law could attract overseas liquidity for dollar-pegged stablecoins and accelerate digital dollar usage worldwide, potentially expanding dollar usage in developing countries without central bank digital currencies (CBDC) or traditional finance. The GENIUS law passed Senate final voting the previous day.
Paxos Establishes 'Paxos Labs' Startup for Institutional DeFi Support
According to The Block, stablecoin issuer Paxos has established a startup called Paxos Labs. Paxos Labs aims to support institutions with DeFi and on-chain products and has been incubated internally at Paxos for the past six months.
DeFi Lending TVL Reaches $60 Billion, 60% Increase in One Year
CoinDesk reported, citing the Artemis report, that DeFi lending protocol's Total Value Locked (TVL) has reached $60 billion, a 60% increase over one year. The report analyzed that DeFi lending platforms are evolving into modular financial networks and becoming institutionalized.
Standard Chartered Expects Non-Stablecoin RWA Tokenization Growth
CoinDesk reported that Standard Chartered (SC) predicts significant growth in non-stablecoin Real World Asset (RWA) tokenization, despite stablecoins currently leading the market. Crypto analyst Geoff Kendrick noted that low-liquidity products like private funds showed faster settlement and cost efficiency when tokenized, while high-liquidity assets like gold or US stocks did not provide significant on-chain advantages.
Circle Market Cap Exceeds $40 Billion
USDC issuer Circle's stock price surpassed $172, with market capitalization exceeding $41.715 billion, representing 67.8% of USDC's total market cap ($61.5 billion). Circle's stock is currently trading at $173.12, up 16.20% from the previous day.
BitDeer Plans $330 Million Convertible Bond Issuance
The Block reported that Bitcoin cloud mining company BitDeer plans to raise $330 million through its third convertible bond issuance. The bond matures in 2031 with an annual interest rate of 4.875%. The funds will be used for loan repayment, miner expansion, and company operations.
Polygon Co-Founder Moves to Independent Enterprise
The Block reported that Polygon (POL) co-founder Jordi Baylina and the zkEVM team have transitioned to an independent company called ZisK. ZisK was incubated by Polygon Labs in May 2024 and officially became independent on June 13, currently developing low-latency open-source zkVM technology.
Security Firm: "Novitex Hacking Funds Likely to be Burned"
Slowmist founder Cos announced via X that over $80 million in Novitex hacking funds were transferred to an address with a very high likelihood of burning (blackhole address). Previously, Iran's largest cryptocurrency exchange Novitex suffered a hack of $81.7 million.
Elatos Unveils BTC-Based Stablecoin BTCD
CoinDesk reported that Bitcoin Layer 2 project Elatos has unveiled a BTC-based stablecoin called BTCD, which utilizes BTC for reserves and pegging mechanisms.
Arbitrum Supports Ethereum Petra Upgrade
Ethereum Layer 2 Arbitrum (ARB) announced through its official X that it supports the Petra upgrade. The Petra upgrade was activated on the Ethereum mainnet on May 7th.
Coinbase Launches Coinbase Payment Service
Coinbase announced the launch of its 'Coinbase Payment' service for e-commerce platforms.
Binance Spot Trading Volume Reaches Highest Level in a Year
According to The Block data, Binance's spot market share reached 41.14% in June, the highest level in the past year. Currently, Binance's Bitcoin spot trading volume is 45.6%, the highest since July 2024. Since March, Ethereum (ETH) spot trading volume has also been maintained above 50%.
Coinbase Stock Rises 10% Intraday
Coinbase (NASDAQ ticker COIN) stock rose 10% during trading. Currently, Coinbase stock is trading at $279.95, up 10.20%.
$250 Million USDC Newly Issued
According to Whale Alert, $250 million USDC was newly issued from the USDC Treasury address.
BTC Falls Below $104,000
According to Coinness market monitoring, BTC fell below $104,000. On Binance USDT market, BTC is trading at $103,975.29.
