💰 Osmosis DAO backs zero-fee Bitcoin bridge to Cosmos

Osmosis Decentralized Autonomous Organization (DAO) is unanimously supporting a proposal to adopt a revenue share proposal that enables a zero-fee Bitcoin bridge to the Cosmos ecosystem via Nomic. The proposal has received overwhelming community support, with about 92% of DAO members favoring the zero-fee upgrade. Meanwhile, around 6% of the DAO members abstained from voting, while 1% were against the move.

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📊Market eyes max pain prices as $6.6 billion BTC and $3.4 billion ETH options expiry nears

As June draws to close, significant expiration in Bitcoin (BTC) and Ethereum (ETH) options loom, potentially impacting market conditions. On June 28, BTC options worth $6.6 billion will expire. Deribit data reveals a put/call ratio of 0.53, indicating a bullish sentiment, with total open interest roughly around 107,000 BTC—70,000 in calls and 37,000 in puts. Despite this, BTC’s price has been declining, dropping 10% over the past month to as low as $60,500, edging towards the max pain price of $58,000.

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💰 Bitcoin sees $630 million outflow as crypto ETP trading volume hits new low amid market’s ‘true correction’

The crypto market is undergoing a significant correction as investors withdrew $584 million from crypto-related investment products last week, according to CoinShares’ latest report. Additionally, global trading volumes for crypto ETPs hit their lowest levels since the US Securities and Exchange Commission approved the launch of several spot Bitcoin exchange-traded funds (ETFs) in January, totaling just $6.9 billion for the week.

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🪙 VanEck’s zero fees are part of plan to become the ‘go-to provider for crypto ETFs’

VanEck recently disclosed it would waive fees for its spot Ethereum ETF, adopting a similar strategy to its Bitcoin counterpart launched earlier this year. Sigel added that VanEck is confident its approach will “resonate” with investors across the spectrum and help drive more interest in Ethereum and the role it can play in their portfolios. He added that the lack of fees is also expected to lower the barrier of entry for new investors.

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🥇 Wallets allegedly linked to US government move 3,940 bitcoins to Coinbase

Wallets thought to be associated with the U.S. government have moved a sizable portion of cryptocurrencies — specifically 3,940 bitcoins worth $241 million — onto Coinbase, according to on-chain sleuth Lookonchain. This comes just hours after the same pseudonymous researcher found evidence that the German government had moved 750 bitcoins. It is not uncommon for governments to sell or auction off crypto collected through criminal investigations or other asset seizures.

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🪙 Vitalik Buterin backs new blockchain MegaETH as it raises $20 million at '9-figure' token valuation

MegaLabs, the developer of a new blockchain called MegaETH, has raised $20 million in a seed funding round. MegaLabs began raising funds for the seed round last December and closed it in May, co-founder and chief business officer Shuyao Kong told The Block. The round was structured as equity plus token warrants and brought MegaETH's fully diluted token valuation to a "9-figure" amount, Kong said, meaning at least $100 million.

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🪙 Galaxy Digital sees up to $7.5 billion flowing into ETH ETFs within first five months

Galaxy Digital said exchange-traded funds tracking Ethereum’s native token, could become a multi-billion market opportunity soon after approval. The U.S. Securities and Exchange Commission recently changed course to accelerate the approval of these funds, with some analysts predicting the first ETH ETFs approvals could come in next week. The SEC has yet to approve the crucial S-1 filings needed for the funds to hit the market.

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💰 Bitdeer plans to gain 570 MW of power capacity for bitcoin mining by leasing industrial park

Bitcoin mining firm Bitdeer Technologies is in the process of acquiring nearly 600 megawatts (MW) of additional power capacity to grow its bitcoin mining capabilities and other activities. The mining operation said Friday it expects to secure up to 570 MW of power capacity by entering a lease for an Ohio-based industrial park equipped with an advanced power infrastructure. The 30-year agreement will increase Bitdeer’s total power capacity to 2.5 GW globally, in addition to strengthening the company’s infrastructure development pipeline for Bitcoin mining.

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💰 Industry experts challenge Peter Thiel’s reservations about Bitcoin’s future price potential

Peter Thiel, former PayPal CEO and co-founder of Founders Fund, recently expressed doubt about Bitcoin’s future price potential, stating it is unlikely to increase “dramatically” from its current levels. However, several industry experts challenge Thiel’s viewpoint, arguing that the flagship crypto still has significant room for growth. Bitcoin was trading at $60,300 as of press time, down almost 2% over the past 24 hours.

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🔵 Coinbase to launch CFTC-regulated futures trading for 5 altcoins

Coinbase Derivatives plans to launch margined futures contracts for Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB). On June 28, the service published an announcement and submitted filings to the CFTC to list each contract under a self-certification model.

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🪙 SEC returns S-1 forms to Ethereum ETF issuers, with at least one more round to go: Source

The U.S. Securities and Exchange Commission returned the S-1 forms to prospective Ethereum ETF issuers in the latest round of back and forth before they go effective. The forms were handed back with light comments, according to a source at one issuer. The issuers have been asked to address the comments and refile them by July 8.

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🪙 Vitalik Buterin suggests ways to speed up Ethereum transaction confirmations

Ethereum co-founder Vitalik Buterin has suggested ways to help the blockchain improve its transaction confirmation times. Buterin, in a June 30 blog post, explained that Ethereum’s Gasper consensus mechanism uses a slot-and-epoch architecture that contains certain complexities, like bug interactions and a 12.8-minute confirmation time, that makes it “more and more uncomfortable” for user experiences.

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🔵 Circle becomes first stablecoin issuer to secure regulatory approval under MiCA

Circle announced on July 1 that it has received an e-money license from France, positioning it as the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. The license, issued by France’s financial regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), allows Circle to issue its stablecoins USDC and Euro Coin (EURC) across the EU under the new regulatory framework, effective immediately.

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🇩🇪 German government sends another $17.6 million in 💰 bitcoin to Coinbase, Bitstamp and Kraken: Arkham

Bitcoin addresses labeled as belonging to German authorities appeared to send another 282.74 ($17.6 million) to Coinbase, Bitstamp and Kraken on Tuesday morning — indicating a potential intention to sell the assets — according to on-chain analytics provider Arkham. The German government-labeled addresses began sending bitcoin to crypto exchanges last month following the seizure of 50,000 BTC from the film-piracy site Movie2k in January.

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🟠 Ripple and Coinbase aim to leverage judge's ruling in SEC's Binance case

Coinbase and Ripple Labs are looking to leverage their cases with the U.S. Securities and Exchange Commission by citing a recent order that gave Binance a win for how secondary sales of crypto are treated. Over the past few days, Coinbase and Ripple have pointed to a lack of clarity on how crypto is regulated in filings submitted in their respective cases.

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💰 Lido sees around 100k increase in staked Ethereum amid SEC scrutiny

Lido has reported a rise in staked Ethereum on its platform despite the US Securities and Exchange Commission (SEC) classifying its staking programs as securities in its lawsuit against Consensys. A July 2 report showed that Lido users staked an additional 95,616 ETH between June 24 and July 1. This increased the total value of assets staked on the platform by 1.26%, reaching $33.48 billion.

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💰 CryptoQuant says 'extremely underpaid' bitcoin miners' capitulation is a possible bottom signal

Since Bitcoin's latest halving event on April 19, which cut the reward for mining a new bitcoin block in half, the world's largest cryptocurrency has begun showing signs of miner capitulation as miners likely turn off underperforming machines and begin to sell bitcoin to hedge their exposure. There are various signs of miner capitulation, which historically has indicated a bottom in prices, according to CryptoQuant, which notes that for most of the period since April, miners have been "extremely underpaid" according to the data provider's metrics.

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