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Robinhood’s new IPO underwriter role comes as SpaceX prepares a record-breaking public offering, with retail brokers and crypto-native derivatives platforms racing to shape price discovery and access. Robinhood Securities said it had secured approval to act as an IPO underwriter, moving from a distribution role into the main underwriting group alongside Wall Street banks. Chief executive Vlad Tenev said in a Tuesday X post that Robinhood Securities is “now approved to serve as an underwriter,” without specifying which regulator granted the approval, a process that typically involves oversight from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Framing the move as the “natural next step” after launching IPO Access in 2021, Tenev said the question in equity capital markets had shifted from “why allocate to retail at all?” to “how big can the allocation be?” Read more
CoinShares’ James Butterfill said recent crypto outflows reflect a macro-driven sentiment shock, while other analysts warned Bitcoin’s rebound may remain fragile. Cryptocurrency market outflows reflect a sentiment shock, as geopolitics, rate expectations and capital rotation into artificial intelligence weigh on digital assets, according to James Butterfill, head of research at CoinShares. In a statement sent to Cointelegraph, Butterfill said that sentiment in crypto markets has “soured drastically” after billions of dollars flowed out of digital asset investment products in recent weeks. “This is a pure sentiment shock rather than a structural break,” Butterfill said. Read more
Coinbase, Kraken and dYdX are adopting Pyth's new indexes, which provide continuous pricing for US stocks, gold and oil outside market hours. Pyth Network, a blockchain oracle and market data provider, has launched new pricing indexes for US stocks and commodities, a move aimed at supporting around-the-clock trading products across crypto exchanges. The company announced Wednesday that Coinbase, Kraken, dYdX and Nado are already using the indexes to power new trading markets. According to Pyth, the indexes are designed for perpetual futures, tokenized assets, prediction markets, derivatives settlement and exchange-traded product benchmarking, providing continuous reference prices even when traditional financial markets are closed. Read more
Bitcoin’s institutional support weakened as ETFs and companies dumped almost 2,000 BTC daily and Strategy’s buying lost momentum. Bitcoin (BTC) faced renewed risks of a breakdown toward $30,000, according to a new analysis, as institutional demand turned deeply negative. Key takeaways: Capriole Investments’ institutional buying model, which tracks Bitcoin demand from ETFs, corporate treasuries, and miner issuance, shows net institutional selling at around 450% of daily mined supply, equivalent to about 2,000 BTC per day. Read more
Trad.Fi plans to bring up to $650 million in equipment-finance credit onchain, targeting a trillion-dollar US market still dominated by paperwork. US-based equipment finance platform Trad.Fi announced plans to bring up to $650 million in private credit onchain over the next 48 months. The initiative targets one of the largest and least digitized credit markets in the US, the trillion-dollar industry funding manufacturing equipment, industrial systems and residential solar installations, according to an announcement shared with Cointelegraph. Trad.Fi said the $650 million is not deployed capital but a credit pipeline that will be minted onchain, backed by committed senior credit facilities and signed Letters of Intent from anchor borrowers. The company said it currently has about $85 million in signed term sheets and about $40 million expected to close imminently. Read more
The Spiderchain developer told users to withdraw assets by July 9 after concluding demand for Bitcoin-native DeFi was not sufficient to support the network. Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation. In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.” The decision comes despite integrations with major crypto infrastructure providers, including Chainlink, Fireblocks and Galaxy, and the launch of a consumer-facing Bitcoin neobank app. Read more
The proposed measures would ban transactions on 11 crypto platforms and expand sanctions targeting networks accused of helping Russia evade restrictions. The European Union proposed banning transactions on 11 crypto platforms as part of its 21st sanctions package against Russia. Kaja Kallas, vice president of the European Commission and the EU’s high representative for foreign affairs and security policy, outlined measures targeting banks, weapons manufacturers, oil traders, refineries and other entities outside the bloc. “We will also tighten our ban for crypto-asset services to certain third countries, add new designations, and ban transactions on 11 crypto platforms,” Kallas said in a post on X. Read more
Tech stocks and crypto are selling off in a “classic pre-mega-IPO liquidity squeeze,” say analysts. The initial public offering of Elon Musk’s SpaceX has reportedly seen an oversubscription rate running at almost four times the planned offering size, with some analysts suggesting it could be squeezing liquidity from the market. SpaceX’s IPO (SPCX) has attracted over $250 billion in investor demand, far exceeding the $75 billion it is seeking to raise in what would be the largest public offering ever, with the firm valued at $1.8 trillion, Reuters reported. Bankers and investors say it is the latest sign that demand is strong, as long-only funds have put in “sizable orders,” according to the sources. Read more
South Korea's national police has been battling crypto-enabled crimes from DPRK-state level threats to scams targeting retail investors. Blockchain security firm Chainalysis is strengthening its collaboration with South Korea’s national police to crack down on crypto crimes, including those involving North Korea. Chainalysis said on Wednesday that it signed a memorandum of understanding with the Korean National Police Agency (KNPA), aimed at building investigative capability within South Korea’s law enforcement. Chainalysis said one of the driving factors behind the agreement is to better combat North Korea-linked crypto attacks, with South Korea’s police “at the forefront” of tackling these threats. However, Chainalysis's country director Ryan Kwon said agreement aims to tackle all threats. Read more
NEURA plans to integrate Tether's wallet and AI technologies into its robotics platform, enabling autonomous payments and on-device computing for machines. Tether is leading a funding round of as much as $1.4 billion for German tech company NEURA Robotics, deepening the stablecoin issuer's push into artificial intelligence and robotics. The round, which values NEURA at roughly $7 billion, is expected to include a mix of strategic and financial investors. Tether said it is leading the raise through its investment arm, which deploys capital from the company's profits and excess reserves across sectors including AI, energy and digital infrastructure. NEURA said it expects to integrate Tether's Wallet Development Kit into its robotic systems, enabling machines to receive payments and execute transactions within predefined parameters. The companies also plan to deploy Tether's QVAC AI runtime, which is designed to run models directly on devices rather than through cloud-based infrastructure. Read more
The exchange joins Binance, Kraken, Bybit and Coinbase rolling out products tied to SpaceX's anticipated public debut. Blockchain.com has launched 24/7 perpetual trading for institutional clients through its OTC desk, offering around-the-clock exposure to stocks, equity indices, commodities, foreign exchange markets and pre-IPO companies. The rollout includes a SpaceX-linked perpetual contract, allowing eligible investors to take positions tied to the aerospace company's anticipated public listing. According to the company, the contract is already live through its OTC desk. Blockchain.com said the new service is intended for institutions seeking continuous market access outside traditional trading hours. The company said clients can use the platform to hedge or adjust positions across multiple asset classes, including on weekends when most traditional markets are closed. Read more
The Hyperliquid Policy Center and Paradigm say the Treasury’s money-laundering rules for the GENIUS Act are too onerous for stablecoin issuers. The lobbying arm of crypto futures exchange Hyperliquid and venture capital firm Paradigm has urged the US Treasury to revise a proposed anti-money laundering and sanctions rule for stablecoin issuers. The Hyperliquid Policy Center and Paradigm said in a letter on Tuesday that some secondary market obligations should be clarified or narrowed “to avoid unintended consequences for permissionless blockchain infrastructure and the DeFi ecosystem.” The pair said they endorse the Financial Crimes Enforcement Network’s (FinCEN) approach of putting compliance obligations on the “primary market,” such as issuers who have customer information, and taking a “limited approach” to the secondary market, where issuers only see wallets and transactions. Read more
“The same insider trade that improves the accuracy of the price today can reduce the participation that makes the price informative tomorrow,” said Balbinder Singh Gill. Prediction market regulators should consider a measured approach to insider trading enforcement as opposed to an outright ban, according to research from an academic at the Stevens Institute of Technology. In a paper released on June 2, assistant professor of finance Balbinder Singh Gill developed a formal economic model to answer the question of how strictly insider trading in prediction markets should be policed. A paradox exists in that “the same insider trade that improves the accuracy of the price today can reduce the participation that makes the price informative tomorrow,” he said. Read more
Venture capitalist Simon Dedic said Anthropic’s latest AI models drop the cost and skill needed to find crypto exploits to “basically zero.” AI company Anthropic on Tuesday released the first public version of its powerful Claude Mythos model, called Fable 5, with some crypto users worried it could be used for malicious purposes, despite embedded guardrails. Anthropic said last month that its Mythos model uncovered more than 10,000 high or critical-severity vulnerabilities in “systemically important software,” leading many to question if it should be publicly released. This is despite the company saying on Tuesday that Fable 5 was “made safe for general use,” and has safeguards that reroute some topics, such as cybersecurity, to a different model, Claude Opus 4.8 Read more
Ether’s futures open interest fell by 25%, putting pressure on the $1,500 support level. Is a drop to $1,000 next? The Ether (ETH) futures market saw its open interest (OI) on Gate.io fall by 45% to levels last seen in April 2025. At the same time, nearly 480,000 ETH left Binance, OKX, Gemini and Bitfinex over the past few days, reducing the exchange-held supply. The combined shift highlights a market with less leverage and declining exchange balances, placing greater focus on the $1,500 support zone, which some analysts view as critical to preventing a deeper move toward $1,000. Ether's futures market has undergone a broad reset during the recent sell-off. Crypto analyst Amr Taha noted that total ETH open interest across exchanges has dropped 25%, to $12.6 billion from $16.6 billion in May, with several major trading platforms now at levels last seen in April 2025. Read more
Kristin Smith urged the Senate to preserve developer protections in the CLARITY Act, arguing open-source builders should not be regulated as financial intermediaries. Solana Institute CEO Kristin Smith is urging the US Senate to pass the CLARITY crypto market structure bill with developer protections intact, arguing that open-source developers and blockchain infrastructure providers should not be regulated as financial intermediaries. In a thread on the X social media platform, Smith said the market structure legislation “has a real shot at passing the Senate,” making it critical for lawmakers to preserve protections for software developers. Read more
Bitwise research suggests that Bitcoin is leading a broader risk-off move across markets as global liquidity and stablecoin reserves remain elevated. Bitcoin’s (BTC) recent performance may be less about crypto market weakness and more about its position at the front of the risk curve. Asset management firm Bitwise said that BTC often acts as a “canary in the macro coal mine,” responding to shifts in liquidity and financial conditions before traditional markets. With equities now showing similar signs of strain, the firm sees Bitcoin's move as part of a wider risk-off adjustment. Bitwise said that Bitcoin and Ether reached cycle lows of $58,000 and $1,507, respectively, as other global risk assets faced mounting pressure. The Nasdaq recorded its sharpest daily decline of 5% in months, and South Korea’s KOSPI (Korea Composite Stock Price Index), its benchmark stock index, triggered a temporary trading halt after a steep sell-off led by semiconductor stocks. The shift followed stronger-than-expected US labor ma...
A BBB advertising watchdog escalated its review of Kalshi after the prediction market platform declined to participate in an inquiry into influencer disclosure practices. The Better Business Bureau’s (BBB) National Advertising Division (NAD) is referring prediction market platform Kalshi to regulatory authorities after the company declined to participate in an inquiry into its social media advertising practices, adding another layer of scrutiny to the fast-growing event trading platform. In a statement published Monday, NAD said it will refer the matter to the appropriate regulatory authorities, including relevant state Attorneys General, for possible enforcement action. The inquiry examined whether Kalshi’s influencers and affiliates clearly disclosed paid relationships in social media promotions and whether the company took adequate steps to comply with Federal Trade Commission endorsement guidelines. Read more
Bitcoin bear market analysis showed copycat BTC price moves ongoing despite new hopes of a US-Iran peace deal. Bitcoin (BTC) hit week-to-date lows at Tuesday's Wall Street open as analysis put $65,000 as bulls’ level to beat. Key points: Read more
A $50,000 Bitcoin price target remains in play despite BTC maintaining above $60,000 support for now, as multiple indicators warn the bottom may not be in. Bitcoin (BTC) bulls successfully defended the $60,000 psychological support during last week’s 13% correction. BTC/USD daily chart. Source: TradingView Read more11876 items