Author: John Smith

Bitcoin has fallen below $70,000 as capital continues to flow toward a narrow group of high-performing U.S. equity sectors, according to a new analysis from Binance Research. Summary Binance Research linked Bitcoin’s recent weakness to record levels of capital concentration in U.S. equities, with AI, defense, and energy sectors attracting investor flows. Bitcoin has remained under pressure as ETF outflows exceeded $3.4 billion over 11 trading days, while Mt. Gox wallet transfers and macro uncertainty weighed on sentiment. Binance Research said past periods of extreme stock market concentration were often followed by Bitcoin recoveries within weeks when no crypto specific…

A Polymarket trader has challenged the handling of a disputed market tied to Strategy’s Bitcoin sale, arguing that the written rules should count the sale date, not the disclosure date. Summary A trader says he bought 49,695.76 YES shares for about 35,000 USDC in the Strategy market. Strategy’s filing says it sold 32 BTC between May 26 and May 31 for about $2.5 million. The disputed market asks whether Strategy sold Bitcoin by May 31, but timing rules are contested. The dispute centers on the market asking whether MicroStrategy, now known as Strategy, would sell any Bitcoin by May 31,…

Kalshi has reportedly filed to certify perpetual futures tied to XRP, Solana, Dogecoin and other major crypto assets in the United States. Summary Kalshi reportedly filed to certify XRP, Solana, Dogecoin and other altcoin perpetual futures in the U.S. The move follows CFTC approval for Kalshi’s Bitcoin perpetual futures contract, known as BTCPERP. Kalshi’s reported XRP filing follows rising demand for regulated U.S. crypto derivatives products. The reported filing would expand Kalshi’s crypto derivatives plan beyond Bitcoin. A post from BankXRP said Kalshi filed to certify perpetual futures for XRP, SOL, DOGE and more altcoins in the U.S. The filing…

OpenSea may be preparing to add perpetual contracts, in a move that would take the NFT marketplace deeper into crypto trading. Summary OpenSea’s Zack Brenner asked users who wanted early access to perpetual contracts on the platform. Brenner later replied “YES” when asked whether Hyperliquid would power OpenSea’s planned perps feature. CoinGecko ranks OpenSea third in NFT marketplace volume, with a 19.9% monthly market share. OpenSea Product Marketing Lead Zack Brenner asked users on X who wanted early access to perpetual contracts on OpenSea. The post drew attention because it pointed to a possible new trading product from one of…

Robinhood has completed its $180 million acquisition of WonderFi and entered the Canadian crypto market with access to roughly 300,000 funded customer accounts and two of the country’s largest digital asset trading platforms. Summary Robinhood has completed its $180 million acquisition of WonderFi, bringing Canadian exchanges Bitbuy and Coinsquare under its umbrella. The deal adds about 300,000 funded customer accounts and gives Robinhood a regulated foothold in Canada’s crypto market. According to Robinhood’s announcement on Monday, the transaction brings Canadian crypto exchanges Bitbuy and Coinsquare into the company’s operations after the stock-based acquisition of Toronto-headquartered WonderFi. NEW: Robinhood acquires WonderFi…

Vitalik Buterin has proposed an options-based design for crypto index products that could reduce DeFi’s dependence on forced liquidations. Summary Vitalik Buterin proposed an options-based DeFi design to reduce reliance on sudden liquidation systems. Buterin said options contracts could help create crypto index assets without the need for collateralized debt positions. The proposed model could use slower oracles to reduce risks associated with manipulated price feeds. Buterin’s research post, published Monday, set out a model where index-tracking crypto assets use options contracts instead of collateralized debt positions, the structure used across many DeFi lending and synthetic asset systems. Buterin Proposes…

Grayscale has moved closer to launching its Hyperliquid exchange-traded fund after adding a 0.29% sponsor fee and HYPG ticker to its amended registration filing. Summary Grayscale updated its Hyperliquid ETF filing to include a 0.29% fee and the HYPG ticker. James Seyffart expects Grayscale’s Hyperliquid ETF to launch sometime this week. The fund would compete with Bitwise’s BHYP and 21Shares’ THYP HYPE ETFs. The Securities and Exchange Commission filing submitted Monday shows that Grayscale updated its S-1 registration statement for the Grayscale Hyperliquid Staking ETF. The amendment adds the fund’s fee structure and proposed ticker, bringing the product nearer to…

CME Group has drawn about $50 million in notional volume during the first weekend of its new 24/7 cryptocurrency futures and options trading service. Summary CME Group recorded about $50 million in notional trading volume during the first weekend of its 24/7 crypto derivatives market. More than 7,200 cryptocurrency futures and options contracts traded after round-the-clock access began on May 29. The launch allows traders to manage positions in regulated crypto derivatives on weekends and holidays. According to CME Group’s official update, more than 7,200 crypto futures and options contracts changed hands after round-the-clock trading began on May 29. The…

TON has rallied after Telegram founder Pavel Durov said the network’s native token will revert to its original name, Gram. Summary Pavel Durov said Toncoin will be renamed Gram, restoring the token’s original identity as defined in TON’s first white paper. TON rose 18.75% to $2.19 after traders reacted to the rebrand and Telegram’s stronger role in the ecosystem. Durov said the rebrand will take about three weeks and will not require any token swap. According to Durov, Gram was the original name of the token in TON’s original white paper, while TON will remain the name of the blockchain…

Coinbase has intensified its push for U.S. crypto market rules as Senate lawmakers prepare for a decisive vote on the CLARITY Act this month. Summary Coinbase’s Faryar Shirzad said the CLARITY Act could become the biggest U.S. financial regulatory bill since Dodd-Frank. The bill cleared the Senate Banking Committee by a 15-9 vote and now needs 60 votes in the Senate to advance. Senator Cynthia Lummis warned that Congress may not get another serious chance to pass crypto legislation until 2030. Shirzad said on Fox Business’ Mornings with Maria that the Digital Asset Market Clarity Act could become the most…