🚨 WARNING: ZachXBT Suspects AscendEX is Facing Liquidity Issues – Delayed Withdrawals!

On-chain detective ZachXBT has issued a warning to the community about the centralized exchange AscendEX (formerly Bitmax).

Details:
🟢 Multiple users have reported that withdrawal requests are being delayed for many days to several weeks, and in some cases, not processed at all.
🟢 After checking the exchange’s hot wallets on Arkham and TRM Labs, ZachXBT found a significant shortage of major tokens such as $ETH, $USDT, $SOL...
🟢 This suggests the platform may be facing liquidity problems.

About AscendEX:
🟣 Founded in 2018 by George (Jing) Cao and Ariel Ling.
🟣 In December 2021, the exchange was hacked by the Lazarus Group, with estimated losses of around $78 million.

AscendEX has not yet issued an official response to these allegations.

⚠️ Advice:

Users who are holding assets on AscendEX should consider withdrawing to their personal wallets immediately and monitor the situation closely. Avoid depositing any additional funds at this time.

Source: ZachXBT’s post & reputable crypto news outlets (PANews, CryptoTimes...)

@BackcomGlobal

🔥 ARE THE MEMORIES OF LEHMAN BROTHERS COMING BACK?

Lee Robinson – the fund manager who reportedly made around 900% during the 2008 financial crisis by betting against the collapse of the U.S. subprime mortgage market – is now warning about a new risk in the financial system:

“The private credit market, worth roughly $1.8 trillion.”

What stands out is that Private Credit has grown rapidly in recent years, becoming an alternative source of funding to traditional banks for many businesses.

But the problem lies here:
🖤 The market is getting bigger
🖤 Transparency is lower than in public bond markets
🖤 Liquidity risk may be underestimated
🖤 Many insurers and financial institutions are becoming more deeply connected to this sector

According to Robinson, the current environment somewhat resembles the period before the Lehman Brothers collapse in 2008.

On the surface, markets still look relatively calm, credit spreads remain low, but underneath, may be quietly building up.

🔻He is not saying with certainty that private credit will become the “next Lehman Brothers.” Instead, he is warning that this could become a major weak spot if the economy falls into recession or if corporate defaults rise sharply.

🔻 More importantly, Robinson is not directly shorting private credit. Instead, he is betting on the potential spillover effects through insurance companies linked to this sector, using credit default swaps.

@BackcomGlobal

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🔸 BINANCE TEMPORARILY BANNED FROM PROVIDING SERVICES IN THE EU MARKET

Binance is forced to temporarily suspend services across the European Union starting July 1, 2026, because it failed to obtain the MiCA license before the deadline.

🏙 Main reasons:

🖤The license application submitted in Greece was rejected.
🖤 Binance has withdrawn the application and will resubmit in another EU country.
🖤 Regulatory authorities in Greece, Ireland, and Latvia expressed concerns over Binance’s complex legal history (including fines related to money laundering), complex corporate structure, and high-risk culture.

Yi He (Co-CEO of Binance) stated that this is a normal regulatory challenge for a new industry (comparing it to Uber and Airbnb). She affirmed that the EU remains an important market despite accounting for only a small percentage of volume, and Binance is committed to close cooperation with regulators to build trust and comply with the highest standards.

@BackcomGlobal

🏠 OKX PARTNERS WITH ICE (NYSE PARENT) TO ESTABLISH MAJOR JOINT VENTURE

OKX and ICE (Intercontinental Exchange — parent company of the New York Stock Exchange - NYSE) have established a 50/50 joint venture to bridge traditional financial markets with the crypto ecosystem.

The joint venture will operate as a U.S.-registered broker-dealer and futures commission merchant (FCM), pending regulatory approval.

✔️ Key objectives:

🖤 Bring ICE futures markets and NYSE tokenized equities to OKX’s 120 million users.
🖤 Targeted rollout in the second half of 2026.

👤 Co-chaired by:

🖤 Andrew Cuomo — former Governor of New York
🖤 Trabue Bland — Senior Vice President of Futures Markets at ICE

This deal follows ICE’s strategic investment in OKX in March 2026, which valued the company at $25 billion and secured ICE a seat on OKX’s board of directors.

@BackcomGlobal

🔈 JUNE 30: THE DAY THE MARKET AWAITS SIGNALS FROM STRATEGY

🖤 Strategy’s preferred stock STRC has been falling sharply and is currently trading around $73–75, well below the $100 level the product aims to maintain in order to attract capital for buying Bitcoin.

🖤 June 30 is a key date because Strategy will update the monthly dividend rate for STRC. The current nominal dividend stands at 11.5% per year and has remained unchanged for 4 consecutive months, even as STRC’s price has declined significantly.

🖤 At the current price level, investors are demanding a real yield close to 15%. The market believes the existing dividend rate is no longer attractive enough relative to the risk.

🖤If Strategy increases the nominal dividend → the cost of capital will rise.
🖤If it does not increase → STRC may continue to lose investor confidence, clogging the channel for raising new funds to buy Bitcoin.

STRC is one of the important channels helping Michael Saylor raise capital to buy more Bitcoin. However, when the price falls too far from the $100 mark, the market is no longer just looking at the dividend.

The market is watching to see whether Saylor’s “Bitcoin capital-raising machine” is still running smoothly — or whether we’re waiting for the “Ponzi” to come to an end?

@BackcomGlobal

🪙 MIKE NOVOGRATZ: BITCOIN WILL MOVE SIDEWAYS UNTIL NEW CATALYSTS EMERGE

🖤Galaxy Digital CEO Mike Novogratz believes Bitcoin’s upward momentum currently hinges on two key factors:

🖤Passage of the CLARITY Act (the bill that provides clear regulatory framework for the crypto market).
🖤 Fed interest rate cuts.

Novogratz stated that without these two catalysts, Bitcoin is likely to remain stuck in its current range and will struggle to establish a strong upward trend.

He noted that the market is waiting for clear policy signals from the U.S. before gaining new momentum.

📌Note:

Novogratz maintains a long-term bullish outlook, believing that both the CLARITY Act and Fed monetary easing will eventually materialize.

@BackcomGlobal

🔥 US STRIKES IRAN FOR THE 2ND CONSECUTIVE DAY

The US continues to strike Iranian targets around the Strait of Hormuz, in response to Tehran’s “continuous aggressive actions”.

Iran is accused of launching a drone attack on tanker M/T Kiku on Saturday morning.

🖤 Targets struck this time include:

🖤 Military surveillance infrastructure
🖤 Communication systems
🖤 Air defense
🖤 Drone warehouses
🖤 Iran’s mine-laying capabilities

Hormuz heating up again, will oil have a big GAP tomorrow guys? 😄

@BackcomGlobal

🔈 COINBASE & OKX LAUNCH INCENTIVES TO "POACH" BINANCE USERS IN EUROPE

After Binance had to suspend some services in the EU due to not having a MiCA license, other exchanges quickly rolled out strong incentives to attract users.

🟢 Coinbase is offering up to 5% transfer rewards for users in Germany, France, Italy (and several other countries). The offer is valid until July 13.

🟢 OKX is offering up to 8% deposit rewards for customers in the EEA region.

OKX’s Europe General Manager confirmed that the number of new user registrations has just hit a record high thanks to the migration wave from Binance.

Both Coinbase and OKX already hold MiCA licenses and are capitalizing on the opportunity to expand their market share in Europe.

@BackcomGlobal

🇺🇸 TRUMP WARNS IRAN: "THE REGIME WILL NO LONGER EXIST"

🔴 President Donald Trump confirms the US has carried out strikes on Iran’s missile, drone, and coastal radar storage sites.

🖤 Reason:

Iran is accused of continuing to violate the ceasefire after attacking a commercial ship in the Strait of Hormuz.

⚠️ Trump warns: If Iran continues its actions, the US may be forced to complete the military campaign, and “the Islamic Republic of Iran will no longer exist.”

Tomorrow, stock futures may see sharp volatility due to geopolitical risks.

@BackcomGlobal

🪙 BTC DOWN MORE THAN 50% IN FIRST HALF OF 2026, UNDERPERFORMS GOLD AND STOCKS

🔴 Bitcoin has dropped more than 50% from its peak in the first half of 2026, even breaking below the $60K zone at times. The entire crypto market is in the red and underperforming gold, stocks, as well as bonds.

🔴 The main reason lies in the AI frenzy. Capital is flowing strongly into AI tech stocks (Nvidia, TSMC, Broadcom…), sucking liquidity out of crypto. Bitcoin has almost no buying support left.

❗️ According to on-chain data, Bitcoin’s 90-day Net Realized P&L has turned negative since late January and is currently at -$203.2 million. This shows that most sellers in the past 90 days are realizing losses.

➡️ The only silver lining is that Bitcoin has still declined less than Strategy (MSTR) stock of Michael Saylor. In the first half of 2026, money is not flowing into crypto — it’s flowing into AI.

@BackcomGlobal

💰 ALAN GREENSPAN AND THE IRONY OF "LOVING GOLD BUT PRINTING PAPER MONEY"

🟡 Former Fed Chairman Alan Greenspan passed away at the age of 100. An interesting detail is being recalled: he had a habit of sitting and admiring a gold bar every night.

🟡 In 1966, Greenspan wrote the essay “Gold and Economic Freedom” in Ayn Rand’s book, strongly advocating for the gold standard and arguing that fiat money is just “paper.”

🟡 However, from 1987 to 2006, he served as Fed Chairman for 18 years, heading the very machine that printed the paper money he once criticized.

👉 Belief one way, job the other. The gold bar he admired every night was perhaps his old ideal that he kept for himself, while daily operating the opposite system.

@BackcomGlobal

🔥 BITCOIN ETF RECORDS SECOND-LARGEST WEEKLY OUTFLOW SINCE LAUNCH

🔴 U.S. spot Bitcoin ETFs recorded $1.79 billion in outflows in the past week.

🔴 BlackRock’s IBIT alone accounted for $1.3 billion (around 72–73% of total outflows).

🔴 At the same time, Bitcoin hit a new yearly low around $58,100. The market is seeing strong negative ETF flows amid a deep price correction.

➡️ With the recent near-record outflows, many investors are asking: Is the current price zone a reasonable long-term accumulation point?

@BackcomGlobal

🔥 OPENAI RELEASES GPT-5.6 WITH 3 VERSIONS: SOL - TERRA - LUNA

OpenAI has just announced the preview of its new GPT-5.6 model line, consisting of 3 tiers:

🖤 Sol: The strongest version, designed for advanced coding and security research.

🖤 Terra: A balanced model suitable for daily use, priced about 2x cheaper than the previous model.

🖤 Luna: The fastest and most affordable, designed for high-volume workloads.

Currently, access is limited to a group of trusted partners via API, following a request from the US Government (White House) due to concerns over potential cyber attack capabilities. OpenAI stated that it plans to roll out GPT-5.6 to the general public in the coming weeks.

The names Sol - Terra - Luna are drawing attention because they overlap with crypto projects.

@BackcomGlobal

🪙 TETHER ALLOWS USING TOKENIZED GOLD AS COLLATERAL TO BORROW MONEY

🖤 Tether has partnered with crypto lending platform Ledn, allowing XAUT holders (token representing physical gold) to use it as collateral to borrow money without having to sell their gold.

📌 Key Information:

🖤 Each XAUT equals 1 troy ounce of gold stored in Switzerland.
🖤 Tether currently holds approximately $23 billion worth of physical gold to back XAUT.
🖤 The model operates similarly to Ledn’s Bitcoin collateral lending service: collateral is kept intact and not re-lent.

👉 This move is part of Tether’s long-term expansion strategy, as the company is using massive profits from stablecoin USDT to invest in various sectors such as energy, Bitcoin mining, and AI infrastructure.

@BackcomGlobal

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🔊 CHINESE AI CATCHES UP TO CLAUDE MYTHOS IN SECURITY VULNERABILITY DETECTION

Zhipu AI’s GLM-5.2 model has just achieved results on par with or surpassing its US rival in finding software vulnerabilities.

🖤 Key Highlights:

🖤 Token cost is only 1/4 that of Claude Mythos
🖤 Positions Zhipu AI as a direct competitor to Anthropic in the enterprise security segment

This breakthrough shows China is closing the gap rapidly in AI cybersecurity, especially since GLM-5.2 is an open-weight model.

@BackcomGlobal

🇺🇸 US ECONOMIC CALENDAR HIGHLIGHTS THIS WEEK

🖤 Tuesday (June 30): Job Openings (JOLTS)

🖤 Wednesday (July 1): ADP Private Payrolls Report + Speech by FED Chair

🖤 Thursday (July 2): June Unemployment Rate + Initial Jobless Claims

🖤 Friday (July 3): Markets closed for Independence Day holiday

The focus this week is on US labor market data – a key indicator reflecting the health of the US economy. The results will significantly influence expectations and the FED’s interest rate decisions in the near term.

@BackcomGlobal

🔥 US - IRAN NEGOTIATIONS RESUME

🔈 After two days of intense weekend clashes, the US and Iran have agreed to a temporary ceasefire and will sit down for talks in Doha (Qatar) on Tuesday, June 30.

📌 Key Points:

🖤 The immediate focus is on resolving the conflict in the Strait of Hormuz.

🖤 Iran’s Foreign Minister stated: In the next 30 days, the Strait of Hormuz will be under full Iranian control.

🖤 Any external interference will only prolong the reopening of the strait.

🖤 Iran demands that the US set a specific timeline for Israel to withdraw from Lebanon, while Israel continues its attacks on Hezbollah in southern Lebanon.

👉 Market Reaction:

Brent crude eased slightly to $72, Bitcoin slowly declined toward $58K.

@BackcomGlobal

🔥 HOTTEST CRYPTO NEWS OF THE WEEK

🔴 US Senate passes bill banning Fed from issuing CBDC until 2030.

🔴 Meta is developing a new prediction market platform to directly compete with Polymarket and Kalshi.

🔴 Kalshi in talks to raise funds at a $40 billion valuation.

🔴 Binance announces delisting of ALCX, ARDR, NFP, and POND (July 10).

🔴 Trump threatens 100% tariffs on countries imposing digital service taxes targeting US businesses.

There were also many other great news stories last week — check them out and drop your comments below! 👇

@BackcomGlobal