> SVB: BITCOIN LENDING REBOUNDS AS BANKS AND INSTITUTIONAL CAPITAL ENTER THE MARKET
SILICON VALLEY BANK SAID THE BITCOIN LENDING MARKET IS RECOVERING FROM THE 2022 COLLAPSES OF BLOCKFI, CELSIUS AND GENESIS AND IS EVOLVING TOWARD MORE INSTITUTIONALIZED AND TRANSPARENT LENDING STRUCTURES. CITING GALAXY RESEARCH, THE REPORT SAID CRYPTO-BACKED LENDING REACHED $67 BILLION IN Q1 2026, UP ABOUT 49 % YEAR OVER YEAR. SEVERAL MAJOR U.S. BANKS HAVE BEGUN OFFERING BITCOIN-BACKED LOANS TO SELECT CLIENTS. BITCOIN LOAN RATES REMAIN ELEVATED AT 7.5 % TO 16 %, BUT BORROWING COSTS COULD DECLINE AS MORE BANKS, PRIVATE CREDIT FUNDS AND INSTITUTIONAL CAPITAL ENTER THE MARKET. THE REPORT ALSO SAID THE LIGHTNING NETWORK COULD IMPROVE BITCOIN LENDING AND PAYMENT INFRASTRUCTURE BY ENABLING REAL-TIME COLLATERAL POSTING, MARGIN CALLS AND LIQUIDATIONS. — LINK
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SILICON VALLEY BANK SAID THE BITCOIN LENDING MARKET IS RECOVERING FROM THE 2022 COLLAPSES OF BLOCKFI, CELSIUS AND GENESIS AND IS EVOLVING TOWARD MORE INSTITUTIONALIZED AND TRANSPARENT LENDING STRUCTURES. CITING GALAXY RESEARCH, THE REPORT SAID CRYPTO-BACKED LENDING REACHED $67 BILLION IN Q1 2026, UP ABOUT 49 % YEAR OVER YEAR. SEVERAL MAJOR U.S. BANKS HAVE BEGUN OFFERING BITCOIN-BACKED LOANS TO SELECT CLIENTS. BITCOIN LOAN RATES REMAIN ELEVATED AT 7.5 % TO 16 %, BUT BORROWING COSTS COULD DECLINE AS MORE BANKS, PRIVATE CREDIT FUNDS AND INSTITUTIONAL CAPITAL ENTER THE MARKET. THE REPORT ALSO SAID THE LIGHTNING NETWORK COULD IMPROVE BITCOIN LENDING AND PAYMENT INFRASTRUCTURE BY ENABLING REAL-TIME COLLATERAL POSTING, MARGIN CALLS AND LIQUIDATIONS. — LINK
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> IRAN: US MUST HONOR DEALS
IRAN’S PRESIDENT SAID ANY AGREEMENT WITH THE U.S. MUST BE MUTUAL: “IF WASHINGTON HONORS ITS COMMITMENTS, WE WILL HONOR OURS.”
HE ADDED THAT IRAN WILL RESPOND TO THREATS WITH “RATIONALITY AND DIGNITY,” BUT WILL DEFEND ITSELF “DECISIVELY AND WITHOUT FEAR” IF NECESSARY.
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IRAN’S PRESIDENT SAID ANY AGREEMENT WITH THE U.S. MUST BE MUTUAL: “IF WASHINGTON HONORS ITS COMMITMENTS, WE WILL HONOR OURS.”
HE ADDED THAT IRAN WILL RESPOND TO THREATS WITH “RATIONALITY AND DIGNITY,” BUT WILL DEFEND ITSELF “DECISIVELY AND WITHOUT FEAR” IF NECESSARY.
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> JUST IN: 🇬🇧 UK OFFICIALLY UNVEILS CRYPTO REGULATIONS AND CUTS CAPITAL REQUIREMENTS FOR STABLECOIN ISSUERS.
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> JUST IN: 🇺🇸 PRESIDENT TRUMP ORDERS US GASOLINE RETAILERS TO DROP GAS PRICES.
"IF RETAILERS DON'T DO THIS, BIG PROBLEMS LIE AHEAD."
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"IF RETAILERS DON'T DO THIS, BIG PROBLEMS LIE AHEAD."
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> EU ISSUES 244 MICA CRYPTO LICENSES AS GERMANY AND FRANCE LEAD ROLLOUT
ESMA REGISTER DATA SHOWED THAT THE EU HAD ISSUED 244 MICA CRYPTO-ASSET SERVICE PROVIDER LICENSES AS OF JUNE 29, WITH GERMANY LEADING AT 57 LICENSES AND FRANCE SECOND WITH 26, TOGETHER ACCOUNTING FOR MORE THAN ONE-THIRD OF THE TOTAL. GREECE, HUNGARY, POLAND, PORTUGAL AND ROMANIA HAVE NOT ISSUED ANY MICA LICENSES. CRYPTO FIRMS WITHOUT A MICA LICENSE MUST STOP PROVIDING RELEVANT SERVICES IN THE EU AFTER JULY 1. — LINK
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ESMA REGISTER DATA SHOWED THAT THE EU HAD ISSUED 244 MICA CRYPTO-ASSET SERVICE PROVIDER LICENSES AS OF JUNE 29, WITH GERMANY LEADING AT 57 LICENSES AND FRANCE SECOND WITH 26, TOGETHER ACCOUNTING FOR MORE THAN ONE-THIRD OF THE TOTAL. GREECE, HUNGARY, POLAND, PORTUGAL AND ROMANIA HAVE NOT ISSUED ANY MICA LICENSES. CRYPTO FIRMS WITHOUT A MICA LICENSE MUST STOP PROVIDING RELEVANT SERVICES IN THE EU AFTER JULY 1. — LINK
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> UPBIT, SOUTH KOREA’S LARGEST CRYPTO EXCHANGE BY DOMESTIC TRADING VOLUME, WILL LIST GENSYN (AI) WITH KRW, BTC AND USDT TRADING PAIRS, WITH TRADING SET TO BEGIN AT 16:00 KOREA TIME ON JUNE 30. GENSYN IS A DECENTRALIZED AI COMPUTE NETWORK DESIGNED TO CONNECT DISTRIBUTED GPU RESOURCES WORLDWIDE AND PROVIDE INFRASTRUCTURE FOR AI MODEL TRAINING. THE PROJECT HAS RAISED ABOUT USD 78 MILLION, WITH BACKERS INCLUDING A16Z CRYPTO, GALAXY DIGITAL AND COINFUND. — LINK
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> 84% OF BINANCE-LISTED ALTCOINS TRADE BELOW 200-DAY AVERAGE AS SLUMP NEARS EIGHT MONTHS
CRYPTOQUANT ANALYST DARKFOST SAID ALTCOINS HAVE BEEN AMONG THE HARDEST‑HIT SECTORS IN THE CURRENT WEAK MARKET, WITH REPEATED FAILED MOMENTUM RECOVERIES. ACCORDING TO CRYPTOQUANT, ABOUT 84% OF BINANCE‑LISTED ALTCOINS ARE NOW TRADING BELOW THEIR 200‑DAY MOVING AVERAGES, AN EXTREME DEPRESSED STATE THAT HAS LASTED NEARLY EIGHT MONTHS — THE SECOND‑LONGEST WEAK CYCLE SINCE 2020, BEHIND ONLY THE ROUGHLY 10‑MONTH DOWNTURN IN THE PREVIOUS BEAR MARKET. — LINK
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CRYPTOQUANT ANALYST DARKFOST SAID ALTCOINS HAVE BEEN AMONG THE HARDEST‑HIT SECTORS IN THE CURRENT WEAK MARKET, WITH REPEATED FAILED MOMENTUM RECOVERIES. ACCORDING TO CRYPTOQUANT, ABOUT 84% OF BINANCE‑LISTED ALTCOINS ARE NOW TRADING BELOW THEIR 200‑DAY MOVING AVERAGES, AN EXTREME DEPRESSED STATE THAT HAS LASTED NEARLY EIGHT MONTHS — THE SECOND‑LONGEST WEAK CYCLE SINCE 2020, BEHIND ONLY THE ROUGHLY 10‑MONTH DOWNTURN IN THE PREVIOUS BEAR MARKET. — LINK
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> CHINESE EXILE GUO WENGUI GETS 30 YEARS IN $1 BILLION FRAUD CASE
THE ASSOCIATED PRESS REPORTED THAT GUO WENGUI, A SELF-EXILED CHINESE BUSINESSMAN, WAS SENTENCED BY A MANHATTAN FEDERAL COURT TO 30 YEARS IN PRISON OVER A LARGE‑SCALE FINANCIAL FRAUD. PROSECUTORS SAID GUO RAISED MORE THAN USD 1 BILLION FROM 2018 TO 2023 THROUGH ENTITIES INCLUDING GTV MEDIA GROUP, HIMALAYA FARM ALLIANCE AND HIMALAYA EXCHANGE, USING THE FUNDS FOR LUXURY HOMES, A YACHT, SPORTS CARS AND OTHER PERSONAL SPENDING. — LINK
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THE ASSOCIATED PRESS REPORTED THAT GUO WENGUI, A SELF-EXILED CHINESE BUSINESSMAN, WAS SENTENCED BY A MANHATTAN FEDERAL COURT TO 30 YEARS IN PRISON OVER A LARGE‑SCALE FINANCIAL FRAUD. PROSECUTORS SAID GUO RAISED MORE THAN USD 1 BILLION FROM 2018 TO 2023 THROUGH ENTITIES INCLUDING GTV MEDIA GROUP, HIMALAYA FARM ALLIANCE AND HIMALAYA EXCHANGE, USING THE FUNDS FOR LUXURY HOMES, A YACHT, SPORTS CARS AND OTHER PERSONAL SPENDING. — LINK
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> BITCOIN SPOT ETFS SEE $231 MILLION OUTFLOW AS ETHER ETFS LOSE $30 MILLION
ACCORDING TO SOSOVALUE DATA, ON JUNE 29 (EASTERN TIME), BITCOIN SPOT ETFS RECORDED A TOTAL NET OUTFLOW OF USD 231 MILLION, WHILE ARK INVEST AND 21SHARES’ ARKB SAW THE LARGEST SINGLE‑DAY NET INFLOW AT USD 49.969 MILLION. ETHEREUM SPOT ETFS RECORDED A TOTAL NET OUTFLOW OF USD 30.043 MILLION, WITH BLACKROCK’S ETHA POSTING THE LARGEST SINGLE‑DAY NET INFLOW AT USD 5.869 MILLION. — LINK
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ACCORDING TO SOSOVALUE DATA, ON JUNE 29 (EASTERN TIME), BITCOIN SPOT ETFS RECORDED A TOTAL NET OUTFLOW OF USD 231 MILLION, WHILE ARK INVEST AND 21SHARES’ ARKB SAW THE LARGEST SINGLE‑DAY NET INFLOW AT USD 49.969 MILLION. ETHEREUM SPOT ETFS RECORDED A TOTAL NET OUTFLOW OF USD 30.043 MILLION, WITH BLACKROCK’S ETHA POSTING THE LARGEST SINGLE‑DAY NET INFLOW AT USD 5.869 MILLION. — LINK
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> MEITUAN DEBUTS CHINA’S BIGGEST AI MODEL TRAINED ON LOCAL CHIPS
- 1.6T PARAMETERS · MOE WITH ~48B ACTIVE · 1M CONTEXT
- BOTH THE FULL TRAINING RUN AND THE LARGE-SCALE DEPLOYMENT ARE BUILT ENTIRELY ON AI ASIC SUPERPODS.
- LONGCAT-2.0 IS PRE‑TRAINED ON OVER 50K AI ASICS (NO GPUS).
- IT USED THE HUAWEI COLLECTIVE COMMUNICATION LIBRARY (HCCL) TO IMPROVE TRAINING STABILITY. HCCL IS A CHIP‑TO‑CHIP COMMUNICATION SYSTEM SIMILAR TO THE NVIDIA COLLECTIVE COMMUNICATION LIBRARY (NCCL).
- COMPETING MODELS LIKE DEEPSEEK‑V4‑PRO RELIED ON DOMESTIC CHIPS ONLY FOR INFERENCE, MEITUAN UTILIZED DOMESTIC HARDWARE FOR BOTH INFERENCE AND THE HIGHLY INTENSIVE PRE‑TRAINING PHASE.
- BECAUSE THE DOMESTIC ACCELERATORS POSSESS LESS PER‑DEVICE MEMORY THAN AN NVIDIA H800 (80 GB), MEITUAN ADDRESS THIS CHALLENGE ALONG TWO DIMENSIONS: PARALLELISM STRATEGY AND MEMORY MANAGEMENT.
MORE:
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- 1.6T PARAMETERS · MOE WITH ~48B ACTIVE · 1M CONTEXT
- BOTH THE FULL TRAINING RUN AND THE LARGE-SCALE DEPLOYMENT ARE BUILT ENTIRELY ON AI ASIC SUPERPODS.
- LONGCAT-2.0 IS PRE‑TRAINED ON OVER 50K AI ASICS (NO GPUS).
- IT USED THE HUAWEI COLLECTIVE COMMUNICATION LIBRARY (HCCL) TO IMPROVE TRAINING STABILITY. HCCL IS A CHIP‑TO‑CHIP COMMUNICATION SYSTEM SIMILAR TO THE NVIDIA COLLECTIVE COMMUNICATION LIBRARY (NCCL).
- COMPETING MODELS LIKE DEEPSEEK‑V4‑PRO RELIED ON DOMESTIC CHIPS ONLY FOR INFERENCE, MEITUAN UTILIZED DOMESTIC HARDWARE FOR BOTH INFERENCE AND THE HIGHLY INTENSIVE PRE‑TRAINING PHASE.
- BECAUSE THE DOMESTIC ACCELERATORS POSSESS LESS PER‑DEVICE MEMORY THAN AN NVIDIA H800 (80 GB), MEITUAN ADDRESS THIS CHALLENGE ALONG TWO DIMENSIONS: PARALLELISM STRATEGY AND MEMORY MANAGEMENT.
MORE:
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> MICA DEADLINE PUSHES MORE EUROPEAN CRYPTO FOUNDERS TOWARD THE UAE'S FRIENDLIER REGULATORY ENVIRONMENT
MORE EUROPEAN CRYPTO FOUNDERS ARE EXPLORING THE UAE AS THE EU’S MICA DEADLINE APPROACHES, WITH FIRMS LACKING AUTHORIZATION SET TO LOSE ACCESS TO EU CLIENTS AFTER JULY 1. DUBAI-BASED CRYPTO LAWYER IRINA HEAVER SAID HER FIRM NOW RECEIVES MORE THAN 120 INQUIRIES A WEEK ABOUT SETTING UP IN THE UAE, ABOUT HALF FROM EUROPE. SHE WARNED THAT MICA COULD DRIVE A BRAIN DRAIN, TAX LOSS AND JOB CREATION AWAY FROM EUROPE. BINANCE RECENTLY WITHDREW ITS MICA APPLICATION IN GREECE AND TOLD EU USERS IT WOULD SUSPEND SOME SERVICES WHILE SEEKING ANOTHER REGULATORY ROUTE. — LINK
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MORE EUROPEAN CRYPTO FOUNDERS ARE EXPLORING THE UAE AS THE EU’S MICA DEADLINE APPROACHES, WITH FIRMS LACKING AUTHORIZATION SET TO LOSE ACCESS TO EU CLIENTS AFTER JULY 1. DUBAI-BASED CRYPTO LAWYER IRINA HEAVER SAID HER FIRM NOW RECEIVES MORE THAN 120 INQUIRIES A WEEK ABOUT SETTING UP IN THE UAE, ABOUT HALF FROM EUROPE. SHE WARNED THAT MICA COULD DRIVE A BRAIN DRAIN, TAX LOSS AND JOB CREATION AWAY FROM EUROPE. BINANCE RECENTLY WITHDREW ITS MICA APPLICATION IN GREECE AND TOLD EU USERS IT WOULD SUSPEND SOME SERVICES WHILE SEEKING ANOTHER REGULATORY ROUTE. — LINK
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> AUSTRALIA'S CRYPTO TRAVEL RULE TAKES EFFECT ON JULY 1
AUSTRALIA'S CRYPTO TRAVEL RULE WILL TAKE EFFECT ON JULY 1, REQUIRING USERS OF LOCALLY REGULATED CRYPTO EXCHANGES TO PROVIDE ADDITIONAL INFORMATION FOR BOTH INCOMING AND OUTGOING TRANSFERS, INCLUDING THE SENDER OR RECIPIENT’S NAME AND PLATFORM DETAILS. THE RULE, ENFORCED BY THE AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE (AUSTRAC), AIMS TO IMPROVE THE TRACEABILITY OF CRYPTO TRANSFERS AND REDUCE RISKS RELATED TO MONEY LAUNDERING, TERRORIST FINANCING AND SCAMS. TRANSFERS TO SELF-CUSTODY WALLETS WILL ALSO REQUIRE USERS TO CONFIRM OWNERSHIP OF THE ADDRESS. — LINK
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AUSTRALIA'S CRYPTO TRAVEL RULE WILL TAKE EFFECT ON JULY 1, REQUIRING USERS OF LOCALLY REGULATED CRYPTO EXCHANGES TO PROVIDE ADDITIONAL INFORMATION FOR BOTH INCOMING AND OUTGOING TRANSFERS, INCLUDING THE SENDER OR RECIPIENT’S NAME AND PLATFORM DETAILS. THE RULE, ENFORCED BY THE AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE (AUSTRAC), AIMS TO IMPROVE THE TRACEABILITY OF CRYPTO TRANSFERS AND REDUCE RISKS RELATED TO MONEY LAUNDERING, TERRORIST FINANCING AND SCAMS. TRANSFERS TO SELF-CUSTODY WALLETS WILL ALSO REQUIRE USERS TO CONFIRM OWNERSHIP OF THE ADDRESS. — LINK
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> NASDAQ SURGES TOWARD 20% QUARTERLY GAIN
U.S. STOCKS ARE SET TO END THE QUARTER ON A HIGH, WITH FUTURES POINTING HIGHER.
THE S&P 500 IS UP 14%, WHILE THE NASDAQ HAS SURGED 20%—ITS STRONGEST QUARTER SINCE 2020—DESPITE RECENT VOLATILITY.
MARKETS ARE ALSO WATCHING U.S.-IRAN TALKS IN QATAR, WHILE OIL REMAINS STEADY.
MEANWHILE, THE JAPANESE YEN IS NEAR A 40-YEAR LOW, KEEPING TRADERS ALERT FOR POSSIBLE INTERVENTION.
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U.S. STOCKS ARE SET TO END THE QUARTER ON A HIGH, WITH FUTURES POINTING HIGHER.
THE S&P 500 IS UP 14%, WHILE THE NASDAQ HAS SURGED 20%—ITS STRONGEST QUARTER SINCE 2020—DESPITE RECENT VOLATILITY.
MARKETS ARE ALSO WATCHING U.S.-IRAN TALKS IN QATAR, WHILE OIL REMAINS STEADY.
MEANWHILE, THE JAPANESE YEN IS NEAR A 40-YEAR LOW, KEEPING TRADERS ALERT FOR POSSIBLE INTERVENTION.
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> YEN HITS 40-YEAR LOW AS INTERVENTION FEARS GROW
THE JAPANESE YEN FELL TO ITS WEAKEST LEVEL SINCE 1986, FUELING EXPECTATIONS OF POSSIBLE GOVERNMENT INTERVENTION.
CHINA’S STRONGER-THAN-EXPECTED FACTORY DATA HELPED STEADY THE YUAN AND SUPPORTED REGIONAL SENTIMENT.
THE U.S. DOLLAR REMAINED FIRM AHEAD OF THURSDAY’S PAYROLLS REPORT AND POTENTIAL U.S.-IRAN TALKS, WHILE MOST ASIAN CURRENCIES TRADED IN NARROW RANGES.
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THE JAPANESE YEN FELL TO ITS WEAKEST LEVEL SINCE 1986, FUELING EXPECTATIONS OF POSSIBLE GOVERNMENT INTERVENTION.
CHINA’S STRONGER-THAN-EXPECTED FACTORY DATA HELPED STEADY THE YUAN AND SUPPORTED REGIONAL SENTIMENT.
THE U.S. DOLLAR REMAINED FIRM AHEAD OF THURSDAY’S PAYROLLS REPORT AND POTENTIAL U.S.-IRAN TALKS, WHILE MOST ASIAN CURRENCIES TRADED IN NARROW RANGES.
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> GERMANY REJECTS EU’S €2 TRILLION BUDGET PLAN
GERMANY IS DEMANDING A €400 BILLION CUT TO THE EU’S PROPOSED €2 TRILLION BUDGET FOR 2028–2034, CALLING IT UNAFFORDABLE.
AS THE BLOC’S BIGGEST NET CONTRIBUTOR, BERLIN SAYS THE PLAN WOULD STILL BE 27% LARGER THAN THE CURRENT BUDGET AND WARNS NO DEAL IS POSSIBLE WITHOUT MAJOR CHANGES.
ANY BUDGET AGREEMENT REQUIRES UNANIMOUS APPROVAL FROM ALL 27 EU MEMBERS.
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GERMANY IS DEMANDING A €400 BILLION CUT TO THE EU’S PROPOSED €2 TRILLION BUDGET FOR 2028–2034, CALLING IT UNAFFORDABLE.
AS THE BLOC’S BIGGEST NET CONTRIBUTOR, BERLIN SAYS THE PLAN WOULD STILL BE 27% LARGER THAN THE CURRENT BUDGET AND WARNS NO DEAL IS POSSIBLE WITHOUT MAJOR CHANGES.
ANY BUDGET AGREEMENT REQUIRES UNANIMOUS APPROVAL FROM ALL 27 EU MEMBERS.
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