> KIWOOM SECURITIES SEEKS STAKE IN BITHUMB, SOUTH KOREA’S NO. 2 CRYPTO EXCHANGE
SOUTH KOREA’S KIWOOM SECURITIES IS SEEKING TO ACQUIRE A STAKE IN BITHUMB, THE COUNTRY’S SECOND‑LARGEST CRYPTO EXCHANGE, ACCORDING TO CHOSUN BIZ. THE TWO SIDES ARE DISCUSSING A THIRD‑PARTY ALLOTMENT OF NEW SHARES, WITH THE EXACT STAKE AND INVESTMENT SIZE STILL UNDER NEGOTIATION.
THE MOVE COMES AS KOREAN SECURITIES FIRMS SEEK TO ENTER THE CRYPTO SECTOR AHEAD OF STO AND STABLECOIN INSTITUTIONALIZATION. THE FSC IS ALSO DISCUSSING RULES THAT WOULD CAP MAJOR SHAREHOLDERS’ STAKES IN CRYPTO EXCHANGES AT 20 % IN PRINCIPLE AND UP TO 34 % UNDER EXCEPTIONS. BITHUMB HOLDINGS CURRENTLY OWNS 73.56 % OF BITHUMB AND WOULD NEED TO REDUCE ITS STAKE BY MORE THAN 50 PERCENTAGE POINTS IF THE RULES ARE IMPLEMENTED. — LINK
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SOUTH KOREA’S KIWOOM SECURITIES IS SEEKING TO ACQUIRE A STAKE IN BITHUMB, THE COUNTRY’S SECOND‑LARGEST CRYPTO EXCHANGE, ACCORDING TO CHOSUN BIZ. THE TWO SIDES ARE DISCUSSING A THIRD‑PARTY ALLOTMENT OF NEW SHARES, WITH THE EXACT STAKE AND INVESTMENT SIZE STILL UNDER NEGOTIATION.
THE MOVE COMES AS KOREAN SECURITIES FIRMS SEEK TO ENTER THE CRYPTO SECTOR AHEAD OF STO AND STABLECOIN INSTITUTIONALIZATION. THE FSC IS ALSO DISCUSSING RULES THAT WOULD CAP MAJOR SHAREHOLDERS’ STAKES IN CRYPTO EXCHANGES AT 20 % IN PRINCIPLE AND UP TO 34 % UNDER EXCEPTIONS. BITHUMB HOLDINGS CURRENTLY OWNS 73.56 % OF BITHUMB AND WOULD NEED TO REDUCE ITS STAKE BY MORE THAN 50 PERCENTAGE POINTS IF THE RULES ARE IMPLEMENTED. — LINK
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> INDIA’S USDT SUPPLY TIGHTENS AS STABLECOIN PREMIUM RISES ABOVE 8.5%
ACCORDING TO THE ECONOMIC TIMES, USDT SUPPLY IN INDIA HAS SUDDENLY TIGHTENED, PUSHING THE LOCAL STABLECOIN PREMIUM FROM THE USUAL 3%–4% TO OVER 8.5%. ON SATURDAY, USDT WAS QUOTED AT INR 102.88, COMPARED WITH THE USD/INR CLOSING RATE OF 94.65 ON FRIDAY.
THE REPORT SAID REDUCED USDT INFLOWS AND CONCERNS OVER FURTHER SLOWDOWN FOLLOWED AN ENFORCEMENT DIRECTORATE CRACKDOWN ON INR 250 BILLION IN MONEY TRANSFERS THROUGH VIRTUAL DIGITAL ASSETS. CRYPTO LEGAL FOUNDER PURUSHOTTAM ANAND SAID THE RECENT RISE MAY PARTLY REFLECT A RISK PREMIUM CAUSED BY REGULATORY UNCERTAINTY. — LINK
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ACCORDING TO THE ECONOMIC TIMES, USDT SUPPLY IN INDIA HAS SUDDENLY TIGHTENED, PUSHING THE LOCAL STABLECOIN PREMIUM FROM THE USUAL 3%–4% TO OVER 8.5%. ON SATURDAY, USDT WAS QUOTED AT INR 102.88, COMPARED WITH THE USD/INR CLOSING RATE OF 94.65 ON FRIDAY.
THE REPORT SAID REDUCED USDT INFLOWS AND CONCERNS OVER FURTHER SLOWDOWN FOLLOWED AN ENFORCEMENT DIRECTORATE CRACKDOWN ON INR 250 BILLION IN MONEY TRANSFERS THROUGH VIRTUAL DIGITAL ASSETS. CRYPTO LEGAL FOUNDER PURUSHOTTAM ANAND SAID THE RECENT RISE MAY PARTLY REFLECT A RISK PREMIUM CAUSED BY REGULATORY UNCERTAINTY. — LINK
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> GALAXY RESEARCH CUTS 2026 CLARITY ACT PASSAGE ODDS TO 50%
GALAXY RESEARCH HEAD OF RESEARCH ALEX THORN SAID THE FIRM HAS LOWERED ITS ODDS OF THE CLARITY ACT BECOMING LAW IN 2026 FROM 60% TO 50%, CITING A TIGHTENING SENATE CALENDAR AND LIMITED PROGRESS IN NEGOTIATIONS.
THORN SAID THE DOWNGRADE IS MAINLY ABOUT TIMING, NOT THE SUBSTANCE OF THE BILL. THE CLARITY ACT PASSED THE SENATE BANKING COMMITTEE ON MAY 14 AND HAS BEEN ON THE SENATE LEGISLATIVE CALENDAR SINCE JUNE 1, BUT NO FLOOR DATE HAS BEEN SET AND NO UNIFIED BANKING-AGRICULTURE TEXT HAS BEEN RELEASED.
HE SAID ETHICS ISSUES AND DEVELOPER-PROTECTION LANGUAGE REMAIN UNRESOLVED, WHILE THE SAVE ACT, THE HOUSING BILL STANDOFF, FISA SECTION 702 REAUTHORIZATION AND THE FY2027 NDAA ARE COMPETING FOR SENATE FLOOR TIME. WITHOUT A FLOOR SCHEDULE BY EARLY JULY, THE BILL’S PATH COULD SLIP TO SEPTEMBER. — LINK
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GALAXY RESEARCH HEAD OF RESEARCH ALEX THORN SAID THE FIRM HAS LOWERED ITS ODDS OF THE CLARITY ACT BECOMING LAW IN 2026 FROM 60% TO 50%, CITING A TIGHTENING SENATE CALENDAR AND LIMITED PROGRESS IN NEGOTIATIONS.
THORN SAID THE DOWNGRADE IS MAINLY ABOUT TIMING, NOT THE SUBSTANCE OF THE BILL. THE CLARITY ACT PASSED THE SENATE BANKING COMMITTEE ON MAY 14 AND HAS BEEN ON THE SENATE LEGISLATIVE CALENDAR SINCE JUNE 1, BUT NO FLOOR DATE HAS BEEN SET AND NO UNIFIED BANKING-AGRICULTURE TEXT HAS BEEN RELEASED.
HE SAID ETHICS ISSUES AND DEVELOPER-PROTECTION LANGUAGE REMAIN UNRESOLVED, WHILE THE SAVE ACT, THE HOUSING BILL STANDOFF, FISA SECTION 702 REAUTHORIZATION AND THE FY2027 NDAA ARE COMPETING FOR SENATE FLOOR TIME. WITHOUT A FLOOR SCHEDULE BY EARLY JULY, THE BILL’S PATH COULD SLIP TO SEPTEMBER. — LINK
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> GRAYSCALE: BITCOIN COULD FALL MODERATELY FURTHER IF CLARITY STALLS AND FED RAISES RATES
GRAYSCALE SAID THAT IF THE CLARITY ACT CLEARS THE SENATE, STRATEGY STRENGTHENS ITS BALANCE SHEET, AND THE FED HOLDS OFF ON RATE HIKES, BITCOIN MAY ALREADY BE CLOSE TO ITS LOW. IN A DOWNSIDE SCENARIO, IF THE CLARITY ACT DOES NOT PASS THIS YEAR, DATS DELEVERAGE FURTHER, AND THE FED RAISES RATES DUE TO PERSISTENT INFLATION, BITCOIN COULD FALL MODERATELY FURTHER. — LINK
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GRAYSCALE SAID THAT IF THE CLARITY ACT CLEARS THE SENATE, STRATEGY STRENGTHENS ITS BALANCE SHEET, AND THE FED HOLDS OFF ON RATE HIKES, BITCOIN MAY ALREADY BE CLOSE TO ITS LOW. IN A DOWNSIDE SCENARIO, IF THE CLARITY ACT DOES NOT PASS THIS YEAR, DATS DELEVERAGE FURTHER, AND THE FED RAISES RATES DUE TO PERSISTENT INFLATION, BITCOIN COULD FALL MODERATELY FURTHER. — LINK
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> VITALIK: OBFUSCATION AND BLOCKCHAINS COULD ENABLE A “TRUSTLESS TRUSTED THIRD PARTY,” BUT REMAIN FAR FROM PRACTICAL
ETHEREUM CO-FOUNDER VITALIK BUTERIN WROTE THAT OBFUSCATION IS ONE OF THE MOST POWERFUL PRIMITIVES IN CRYPTOGRAPHY, ALLOWING A PROGRAM TO BE TURNED INTO AN “ENCRYPTED PROGRAM” THAT HIDES ITS INTERNAL LOGIC WHILE STILL PRODUCING THE SAME OUTPUTS.
HE SAID OBFUSCATION, COMBINED WITH BLOCKCHAINS, COULD ENABLE SECURE, PRIVATE AND COLLUSION-RESISTANT APPLICATIONS WITH ALMOST NO TRUST ASSUMPTIONS, BUT OBFUSCATED PROGRAMS CANNOT HANDLE STATEFUL THINGS LIKE MONEY ON THEIR OWN BECAUSE THEY CAN BE COPIED.
VITALIK NOTED THAT RESEARCHERS NOW KNOW HOW TO ACHIEVE INDISTINGUISHABILITY OBFUSCATION UNDER REASONABLE SECURITY ASSUMPTIONS, BUT RUNTIMES REMAIN “GALACTIC” AND MAY EXCEED THE LIFETIME OF THE UNIVERSE. FUTURE PATHS INCLUDE OPTIMIZING EXISTING LATTICE-BASED CONSTRUCTIONS, USING MORE AGGRESSIVE CRYPTOGRAPHIC LATTICE ASSUMPTIONS, OR EXPLORING NEW NON-LATTICE APPROACHES; IF SUCCESSFUL, ALMOST ANY PROTOCOL DESCRIBED WITH AN IDEALIZED TRUSTED THIRD PARTY COULD BE SECURELY IMPLEMENTED. — LINK
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ETHEREUM CO-FOUNDER VITALIK BUTERIN WROTE THAT OBFUSCATION IS ONE OF THE MOST POWERFUL PRIMITIVES IN CRYPTOGRAPHY, ALLOWING A PROGRAM TO BE TURNED INTO AN “ENCRYPTED PROGRAM” THAT HIDES ITS INTERNAL LOGIC WHILE STILL PRODUCING THE SAME OUTPUTS.
HE SAID OBFUSCATION, COMBINED WITH BLOCKCHAINS, COULD ENABLE SECURE, PRIVATE AND COLLUSION-RESISTANT APPLICATIONS WITH ALMOST NO TRUST ASSUMPTIONS, BUT OBFUSCATED PROGRAMS CANNOT HANDLE STATEFUL THINGS LIKE MONEY ON THEIR OWN BECAUSE THEY CAN BE COPIED.
VITALIK NOTED THAT RESEARCHERS NOW KNOW HOW TO ACHIEVE INDISTINGUISHABILITY OBFUSCATION UNDER REASONABLE SECURITY ASSUMPTIONS, BUT RUNTIMES REMAIN “GALACTIC” AND MAY EXCEED THE LIFETIME OF THE UNIVERSE. FUTURE PATHS INCLUDE OPTIMIZING EXISTING LATTICE-BASED CONSTRUCTIONS, USING MORE AGGRESSIVE CRYPTOGRAPHIC LATTICE ASSUMPTIONS, OR EXPLORING NEW NON-LATTICE APPROACHES; IF SUCCESSFUL, ALMOST ANY PROTOCOL DESCRIBED WITH AN IDEALIZED TRUSTED THIRD PARTY COULD BE SECURELY IMPLEMENTED. — LINK
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> IRAN SAYS QATAR WILL RELEASE $6B IN FROZEN IRANIAN FUNDS AS PART OF A PRELIMINARY US‑IRAN DEAL
THE FUNDS ARE HALF OF THE $12B HELD IN QATARI BANKS, WITH US AND IRANIAN TEAMS SET TO MEET IN DOHA TO COORDINATE THE RELEASE.
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THE FUNDS ARE HALF OF THE $12B HELD IN QATARI BANKS, WITH US AND IRANIAN TEAMS SET TO MEET IN DOHA TO COORDINATE THE RELEASE.
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> DERIBIT AND SIGNALPLUS LAUNCH TRADING COMPETITION
DERIBIT AND SIGNALPLUS ANNOUNCED THE LAUNCH OF “THE ISLAND” TRADING COMPETITION, SCHEDULED TO RUN FROM JULY 6 TO AUGUST 10. THE COMPETITION FEATURES UP TO 600,000 USDC IN REWARDS, WITH PARTICIPANTS ELIGIBLE THROUGH OPTIONS TRADING, REFERRALS, AND QUALIFYING DEPOSITS. — LINK
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DERIBIT AND SIGNALPLUS ANNOUNCED THE LAUNCH OF “THE ISLAND” TRADING COMPETITION, SCHEDULED TO RUN FROM JULY 6 TO AUGUST 10. THE COMPETITION FEATURES UP TO 600,000 USDC IN REWARDS, WITH PARTICIPANTS ELIGIBLE THROUGH OPTIONS TRADING, REFERRALS, AND QUALIFYING DEPOSITS. — LINK
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> BYBIT AND OKX REPORT RISING USER BTC HOLDINGS, FALLING USDT BALANCES
THE LATEST PROOF OF RESERVES REPORTS SHOW USER BTC HOLDINGS INCREASED BY MORE THAN 10% ON BOTH EXCHANGES. BYBIT’S JUNE 24 SNAPSHOT RECORDED 49,309 BTC (+10.22%), WHILE OKX’S JUNE 19 SNAPSHOT SHOWED 123,056 BTC (+10.67%). BYBIT ALSO REPORTED 496,565 ETH (‑10.13%) AND 5.319 BILLION USDT (‑4.12%), WHILE OKX REPORTED 1.652 MILLION ETH (+6.15%) AND 9.268 BILLION USDT (‑9.52%). — LINK
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THE LATEST PROOF OF RESERVES REPORTS SHOW USER BTC HOLDINGS INCREASED BY MORE THAN 10% ON BOTH EXCHANGES. BYBIT’S JUNE 24 SNAPSHOT RECORDED 49,309 BTC (+10.22%), WHILE OKX’S JUNE 19 SNAPSHOT SHOWED 123,056 BTC (+10.67%). BYBIT ALSO REPORTED 496,565 ETH (‑10.13%) AND 5.319 BILLION USDT (‑4.12%), WHILE OKX REPORTED 1.652 MILLION ETH (+6.15%) AND 9.268 BILLION USDT (‑9.52%). — LINK
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> OVER 550K BTC SENT TO BINANCE AND OKX DEPOSIT ADDRESSES AMID BITCOIN’S $60K RETEST: CRYPTOQUANT
ACCORDING TO CRYPTOQUANT ANALYST DARKFOST, MORE THAN 220,000 BTC AND 330,000 BTC WERE TRANSFERRED TO DEPOSIT ADDRESSES LINKED TO BINANCE AND OKX, RESPECTIVELY, AS BITCOIN RETESTED $60,000, MARKING THE HIGHEST SUCH ACTIVITY SINCE THE 2023 BEAR MARKET. THE ELEVATED TRANSFERS TO EXCHANGE DEPOSIT ADDRESSES MAY SIGNAL INCREASING POTENTIAL SELL‑SIDE PRESSURE, THOUGH THEY DO NOT NECESSARILY REPRESENT COMPLETED SALES. — LINK
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ACCORDING TO CRYPTOQUANT ANALYST DARKFOST, MORE THAN 220,000 BTC AND 330,000 BTC WERE TRANSFERRED TO DEPOSIT ADDRESSES LINKED TO BINANCE AND OKX, RESPECTIVELY, AS BITCOIN RETESTED $60,000, MARKING THE HIGHEST SUCH ACTIVITY SINCE THE 2023 BEAR MARKET. THE ELEVATED TRANSFERS TO EXCHANGE DEPOSIT ADDRESSES MAY SIGNAL INCREASING POTENTIAL SELL‑SIDE PRESSURE, THOUGH THEY DO NOT NECESSARILY REPRESENT COMPLETED SALES. — LINK
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> TRUMP: RECORD-HIGH APPROVAL
TRUMP CLAIMS HIS POLL NUMBERS ARE AT THEIR HIGHEST EVER—EVEN ABOVE ELECTION DAY ON NOVEMBER 5.
HE ADDS THAT SUPPORT REMAINS STRONG DESPITE INSISTING: “IRAN WILL NOT HAVE A NUCLEAR WEAPON.”
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TRUMP CLAIMS HIS POLL NUMBERS ARE AT THEIR HIGHEST EVER—EVEN ABOVE ELECTION DAY ON NOVEMBER 5.
HE ADDS THAT SUPPORT REMAINS STRONG DESPITE INSISTING: “IRAN WILL NOT HAVE A NUCLEAR WEAPON.”
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> TECH FUNDS HIT BY RECORD EXODUS
TECHNOLOGY FUNDS SAW RECORD OUTFLOWS OF $9.3 BILLION LAST WEEK, ACCORDING TO DEUTSCHE BANK.
INVESTORS CUT EQUITY EXPOSURE AS POSITIONING SLIPPED SLIGHTLY BELOW NEUTRAL.
U.S.-FOCUSED FUNDS LOST $8.5 BILLION, WHILE GLOBAL FUNDS ATTRACTED $14.4 BILLION—SIGNALING A SHIFT AWAY FROM CONCENTRATED U.S. TECH BETS.
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TECHNOLOGY FUNDS SAW RECORD OUTFLOWS OF $9.3 BILLION LAST WEEK, ACCORDING TO DEUTSCHE BANK.
INVESTORS CUT EQUITY EXPOSURE AS POSITIONING SLIPPED SLIGHTLY BELOW NEUTRAL.
U.S.-FOCUSED FUNDS LOST $8.5 BILLION, WHILE GLOBAL FUNDS ATTRACTED $14.4 BILLION—SIGNALING A SHIFT AWAY FROM CONCENTRATED U.S. TECH BETS.
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> BLACKROCK DEPOSITS 7,432 $BTC WORTH $446 M TO COINBASE PRIME, MARKING ITS LARGEST SINGLE‑DAY NET BITCOIN OUTFLOW ON RECORD.
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> RUSSIA WILL TAKE POLITICAL AND MILITARY-TECHNICAL MEASURES IN RESPONSE TO LIFTING OF BAN ON DEPLOYMENT OF NUCLEAR WEAPONS IN FINLAND - RIA
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> $SPCX - SPACEX SET FOR NASDAQ-100 BOOST
SPACEX JOINS THE NASDAQ-100 ON JULY 7, TRIGGERING AN ESTIMATED $4 BILLION IN PASSIVE FUND BUYING.
THE STOCK ALSO ENTERED THE RUSSELL 1000, WHILE THE S&P 500 KEPT ITS 12‑MONTH WAITING RULE.
SEPARATELY, SPACEX IS REPORTEDLY IN TALKS WITH CHARTER COMMUNICATIONS ON A CONSUMER WIRELESS SERVICE.
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SPACEX JOINS THE NASDAQ-100 ON JULY 7, TRIGGERING AN ESTIMATED $4 BILLION IN PASSIVE FUND BUYING.
THE STOCK ALSO ENTERED THE RUSSELL 1000, WHILE THE S&P 500 KEPT ITS 12‑MONTH WAITING RULE.
SEPARATELY, SPACEX IS REPORTEDLY IN TALKS WITH CHARTER COMMUNICATIONS ON A CONSUMER WIRELESS SERVICE.
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> TRUMP: GAS PRICES FALLING FAST
TRUMP SAYS GAS PRICES ARE DROPPING QUICKLY AND URGES AMERICANS TO REPORT ANY RETAIL-LEVEL PRICE GOUGING OR ABUSES.
“GAS PRICES COMING DOWN, FAST! REPORT ANY ABUSES AT RETAIL LEVEL!”
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TRUMP SAYS GAS PRICES ARE DROPPING QUICKLY AND URGES AMERICANS TO REPORT ANY RETAIL-LEVEL PRICE GOUGING OR ABUSES.
“GAS PRICES COMING DOWN, FAST! REPORT ANY ABUSES AT RETAIL LEVEL!”
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> HORMUZ TRAFFIC SLOWS AFTER ATTACKS
SHIP TRAFFIC THROUGH THE STRAIT OF HORMUZ FELL TO 22 CROSSINGS SUNDAY, THE LOWEST SINCE THE U.S.-IRAN PRELIMINARY PEACE DEAL.
TWO RECENT VESSEL ATTACKS RATTLED CREWS AND SHIPOWNERS.
TALKS MAY RESUME SOON, WITH NAVIGATION RIGHTS THROUGH THE KEY WATERWAY STILL UNRESOLVED.
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SHIP TRAFFIC THROUGH THE STRAIT OF HORMUZ FELL TO 22 CROSSINGS SUNDAY, THE LOWEST SINCE THE U.S.-IRAN PRELIMINARY PEACE DEAL.
TWO RECENT VESSEL ATTACKS RATTLED CREWS AND SHIPOWNERS.
TALKS MAY RESUME SOON, WITH NAVIGATION RIGHTS THROUGH THE KEY WATERWAY STILL UNRESOLVED.
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> IRAN DENIES AXIOS’ REPORT OF US‑IRAN TECHNICAL TALKS IN DOHA THIS WEEK, SAYING MEETINGS WILL ONLY HAPPEN AFTER FROZEN FUNDS ARE RELEASED AND ISRAEL ENDS OPERATIONS IN LEBANON | PER TASNIM
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