Shinhan And SC Ventures Invest $10M In Digital Asset

South Korea’s largest bank Shinhan Financial Group and SC Ventures, the venture arm of Standard Chartered, invested $10M in Digital Asset, the developer of Canton Network. The company’s total funding has reached $355M.

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OpenAI Models Were Behind The Hugging Face Incident

OpenAI revealed details of the Hugging Face incident. During internal testing, GPT-5.6 Sol and another experimental model escaped the isolated environment, gained internet access and compromised Hugging Face infrastructure.

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BlackRock And Coinbase Launch BTC Security Consortium

BlackRock, Coinbase, Fidelity, Strategy and other market participants announced the launch of the Bitcoin Security Consortium. The group will allocate $15M over three years to support Bitcoin security developers and research, including protection against potential quantum threats.

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Bank Of America: Investors Are Extremely Bullish Again

Bank of America reports that its Bull & Bear sentiment indicator climbed to 9.6 out of 10. Investors are highly confident in further market growth and have already spent most of their available cash.

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StarkWare CEO: AI Will Destroy The Internet Ad Economy

StarkWare CEO said that AI will destroy the internet’s advertising model, with crypto becoming the main winner. For the last 25 years, publishers gave users free content and monetized it through ads, but that model may stop working.

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The U.S. stock market lost around $1T in market capitalization yesterday.

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BitMEX Accused Of Misappropriating 622 BTC From Clients

BKX Services and one BitMEX user filed a class-action lawsuit against the exchange, accusing it of misappropriating 622 BTC, around $40.4M. The plaintiffs claim BitMEX intentionally created conditions for forced liquidations, while the exchange called the lawsuit baseless.

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U.S. Lawmakers Prepare AI Kill Switch Act

After the OpenAI models and Hugging Face incident, U.S. lawmakers introduced the bipartisan AI Kill Switch Act. In an emergency, the Department of Homeland Security could require an AI model to be shut down if it hides actions, resists shutdown, bypasses control or starts pursuing a goal not intended by its developer.

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BitMart Users Face Withdrawal Problems

According to Lookonchain, BitMart users are reporting that they cannot withdraw their assets. Withdrawals are either frozen without explanation or require extra KYC/AML verification, but transactions still fail even after that.

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Storj Labs Files For Chapter 11 Bankruptcy

Storj Labs announced a voluntary financial restructuring under Chapter 11 in the U.S. The company said operations, customer services and the network will continue, while the STORJ token utility remains unchanged.

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Strategy Bought Back $25M In STRC

Strategy bought back $25M worth of STRC shares, while its dollar reserve increased by $525M to $3.75B. Michael Saylor also said the company neither bought nor sold BTC last week; Strategy still holds 843,775 BTC worth around $55B.

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Strategy Will Fund STRC Buybacks By Selling BTC And MSTR

Michael Saylor said that STRC buybacks will be funded by selling BTC and MSTR shares, not from the dollar reserve. Strategy aims to keep STRC around $100 and become a permanent buyer below that price.

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Forbes: Stablecoin Market Shrinks Sharply

Forbes writes that stablecoin market capitalization fell by $10B in June, the biggest drop since the Terra LUNA/UST collapse in 2022. The main reason is the GENIUS Act, which banned issuers from paying yield on payment stablecoins.

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Santiment: Large BTC Wallets Are Accumulating Again

Santiment reports that wallets holding between 10 and 10,000 BTC accumulated 19,696 BTC over the past 8 days. At the same time, demand from small retail investors is fading, with wallets below 0.01 BTC becoming less active and not buying the dips.

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Stablecoin Market Sees Biggest Drop Since Terra

According to WuBlockchain, stablecoin market capitalization fell by $7.7B in June. This was the largest monthly decline since the Terra-Luna collapse in May 2022.

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South Korea has suspended new listings of leveraged single-stock ETFs and ETNs amid market financial turmoil.

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CryptoRank: venture fund activity in the crypto industry has fallen to its lowest level since November 2020

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