Today's news tips:

Circle's US stock rose nearly 14% before the market opened

Oblong, a listed company, raised $7.5 million to build the Bittensor ecosystem, and most of the funds will be used to purchase $TAO

The Blockchain Group and TOBAM Launch 300 Million Euro Capital Raise Plan to Accelerate Bitcoin Reserves

Nasdaq applies to the US SEC to add XRP, SOL, ADA, and XLM to the cryptocurrency index

Hold more than 236 Binance Alpha points to receive 800 SKATE

Defi App (HOME) will be listed on Binance Alpha and Binance Futures

Galaxy Digital Receives Another 501 BTC from Jump

CoinShares: Ethereum inflows of $296.4 million last week, the seventh consecutive week of inflows

MEET48 announces the launch of $IDOL airdrop plan, TGE will be launched soon

Regulatory/Macro

Circle's US stock rose nearly 14% before the market opened

Stablecoin issuer Circle's U.S. shares rose nearly 14% in pre-market trading, having closed up more than 29% in the previous trading day.

Oblong, a listed company, raised $7.5 million to build the Bittensor ecosystem, and most of the funds will be used to purchase $TAO

According to Businesswire, Nasdaq-listed IT solution technology service provider Oblong, Inc. announced that it has raised approximately $7.5 million through private placement to launch an artificial intelligence and digital asset strategy centered on Bittensor. The private placement will sell 1,989,392 shares of common stock at $3.77 per share and is expected to be completed on June 11, 2025. Oblong plans to use most of the funds to purchase Bittensor's native token $TAO and support the development of its decentralized AI network, including the construction of open markets for computing, reasoning, data and model training. The company will also develop software tools in the Bittensor ecosystem and participate in Subnet 0 to obtain $TAO revenue.

The Blockchain Group and TOBAM Launch 300 Million Euro Capital Raise Plan to Accelerate Bitcoin Reserves

According to official news, European listed company The Blockchain Group announced that it has signed a "market-price" capital increase agreement with asset management company TOBAM, with a total amount of 300 million euros (including issuance premium). This plan aims to accelerate its Bitcoin Reserve Company strategy and gradually increase the number of Bitcoins per share held on a fully diluted basis through batch capital increases. TOBAM can apply for shares on demand, and the issue price will be determined by the higher of the previous day's closing price or the volume-weighted average price, and the daily issuance volume shall not exceed 21% of the day's trading volume. TOBAM is a strategic investor of The Blockchain Group.

Biometric Project World will be launched in London, UK on June 12

According to CNBC, the biometric project World (formerly Worldcoin), co-founded by OpenAI CEO Sam Altman, will start operations in London, UK on June 12, and plans to expand to several other major cities in the UK in the coming months, including Manchester, Birmingham, Cardiff, Belfast and Glasgow. The project aims to use its Orb device to verify human identity and prevent fraudulent abuse of artificial intelligence systems such as deep fakes.

Bitcoin network transaction activity drops to lowest level since October 2023

According to The Block, the seven-day average transaction volume of the Bitcoin network fell to 317,000 last Friday, the lowest since October 2023. Data shows that only 256,000 transactions were confirmed in a single block on June 1, and many transactions with a standard fee rate of less than 1 sat/vB were packaged by miners, including an ultra-low fee transaction of 0.1 sat/vB submitted by Mononaut, the founder of Mempool (with a total fee of about US$0.01). The transaction was processed by the mining company MARA through a dedicated channel Slipstream after being stranded in the memory pool for a month. On June 6, 31 Bitcoin core developers jointly signed an open letter to oppose nodes filtering low-fee or non-standard transactions, emphasizing the essential attributes of Bitcoin as an anti-censorship system. Developers pointed out that forcing users to use private channels such as Slipstream will undermine the decentralized nature. This position was opposed by Samson Mow, the founder of Jan3, and others, who believed that core developers were removing protection mechanisms for spam transactions.

Nasdaq applies to the US SEC to add XRP, SOL, ADA, and XLM to the cryptocurrency index

According to Cryptotimes, Nasdaq submitted a rule change application to the U.S. Securities and Exchange Commission (SEC) on June 7, planning to include XRP, Solana (SOL), Cardano (ADA) and Stellar Lumens (XLM) in its crypto index benchmark. The adjustment involves the Hashdex Nasdaq Crypto Index ETF (NCIQ), which plans to expand its tracking target from the original Nasdaq Crypto US Settlement Price Index (NCIUS) to the Nasdaq Crypto Index (NCI) covering 9 tokens. Currently, the NCI index includes 9 cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), but due to the current SEC regulations, the ETF can only hold BTC and ETH, resulting in tracking error risks. If approved, the ETF will be able to invest in all index component assets, and the final decision is expected to be made before November 2, 2025. This move may push the U.S. crypto ETF to take a key step towards diversification.

Viewpoint

Analysis: Concerns about the debt risks of Bitcoin finance companies are exaggerated, and most debts will not mature until two years later

Alex Thorn, head of research at Galaxy, wrote: "Fears that Bitcoin Finance and its debt may become a problem are exaggerated. In terms of overall size, the debt of these companies is not large, and most of the debt will not mature until more than two years later." According to the data chart of Galaxy Research, as of May 2025, $650 million due in July 2024, $500 million due in September 2024, and $1.05 billion due in February 2025 have been successfully repaid. As of May 27, most of the debt of Bitcoin Treasury companies will mature between 2027 and 2030, including $1 billion in December 2027, $2 billion in March 2028, and $3.65 billion in June 2028 (the largest single amount). These data cover a number of companies including Strategy, Marathon, Riot, Semler Scientific, Marathon Holdings, and H100.

Michael Saylor downplays quantum computing threat to Bitcoin

According to CoinDesk, Strategy founder Michael Saylor recently downplayed the threat of quantum computing to Bitcoin in an interview with CNBC, arguing that when the threat is imminent, the Bitcoin protocol can respond to potential risks through software upgrades. He said: "This is mainly a marketing trick for those who want to sell you the next quantum concept token. Google and Microsoft will not sell computers that can crack modern encryption technology because it will ruin Google and Microsoft - and also ruin the US government and banking system." There are currently multiple plans to study how to make Bitcoin Proof of Work (PoW) resistant to quantum attacks, including quantum-resistant encryption hardware developed by startups such as BTQ. A Bitcoin developer has submitted a BIP to suggest that wallet addresses be migrated to quantum-safe addresses through a hard fork. Saylor emphasized that the Bitcoin protocol is upgraded every year, and the greater security threat comes from phishing attacks. Saylor concluded: "Bitcoin is a protocol; its software is upgraded every year." He also believes that the biggest security threat facing Bitcoin is phishing. However, not everyone agrees with Saylor's point of view. A recent report by Presto Research pointed out that the encryption industry is "unprepared" for the upcoming quantum threat.

Elon Musk's father: Musk may be suffering from "White House PTSD" and the storm with Trump will soon subside

According to Russian media reports, Elon Musk's father Errol Musk said in an interview in Moscow recently that Elon Musk's public dispute with Trump stems from the long-term high pressure on both sides, and said that his son may be suffering from "White House PTSD (post-traumatic stress disorder)." He believes that Elon Musk's public challenge to Trump is inappropriate, but predicts that the storm will soon subside. Previously, Elon Musk criticized Trump's tax reform on social media.

CryptoQuant: BTC needs to pay attention to the potential resistance of $106,200 and the potential support of $97,500 in the short term

According to burakkesmeci, an analyst at CryptoQuant, the average entry price for short-term Bitcoin holders is: $106,200 from 1 week to 4 weeks, $87,300 from January to March, and $97,500 from March to June. The analysis points out that short-term holders tend to panic when they lose money, and may choose to sell when the price returns to the break-even point (such as $106,200), forming potential resistance. For over-the-counter buyers, price ranges like $97,500 may be seen as buying opportunities and become support levels. There are two key points to pay attention to in the short term: potential resistance of $106,200 and potential support of $97,500. These price levels reflect the fear and opportunity of the market.

Analysis: Wall Street funds are pouring into crypto stocks, but the popularity of the cryptocurrency circle is not synchronized

According to Matrixport analysis, Circle's blockbuster IPO has pushed its valuation to $24 billion, far higher than the acquisition price proposed by Coinbase a month ago, which was considered a "bottom-fishing price". The success of this IPO has once again ignited Wall Street's enthusiasm for crypto stocks. However, compared with the strong performance of crypto stocks, the crypto market as a whole has not shown the same enthusiasm. Data shows that Bitcoin's funding rate not only remains low, but even fell to a negative value at one point. This suggests that some investors may hedge risks by shorting Bitcoin while going long on crypto stocks. Although public market sentiment is optimistic, this sentiment has not yet been fully transmitted to crypto assets themselves, and market enthusiasm still needs further observation.

Project News

ALEX was listed as a trading warning project by Bithumb due to the theft of more than 8 million US dollars in funds. ALEX fell 12.15% in a short period of time

Due to the platform being hacked, ALEX was listed as a trading warning project by the Korean exchange Bithumb, and about $8 million in funds were stolen. Currently, deposits and withdrawals have been suspended, and the follow-up processing will be announced in the second week of July. According to Bitget market data, ALEX fell 12.15% in a short period of time and is now quoted at $0.01856. According to previous news, the DeFi protocol ALEX suffered a loss of about $8.37 million due to a logic vulnerability attack, and the official promised full compensation.

Binance will stop supporting FIS and MDT token deposits and withdrawals through BNB Chain on June 16

Binance announced that it will stop supporting the deposit and withdrawal of the following tokens on the designated network from 16:00 on June 16, 2025: Stafi (FIS) and Measurable Data Token (MDT) are both operated through BNB Smart Chain. After this time, assets deposited through the above networks will not be credited, which may result in asset loss.

Hold more than 236 Binance Alpha points to receive 800 SKATE

Binance announced that it has become the first trading platform to list Skate (SKATE). SKATE will be available for trading on Binance Alpha at 18:00 (Beijing time) on June 9, 2025, and on Binance Futures at 18:30 (Beijing time). Eligible Binance users (holding at least 236 Binance Alpha points) can claim an airdrop reward of 800 SKATE tokens through the Alpha event page when trading is opened. It should be noted that claiming the airdrop will consume 15 Binance Alpha points, and users must confirm the claim within 24 hours, otherwise it will be deemed to have waived the airdrop qualification. Earlier news, Binance Alpha and contracts will list Skate (SKATE).

Defi App (HOME) will be listed on Binance Alpha and Binance Futures

Binance announced that Defi App (HOME) will be officially available for trading on Binance Alpha at 19:00 (Beijing time) on June 10, 2025. In addition, Binance Futures will also launch HOMEUSDT perpetual contracts at 19:30 (Beijing time) on the same day, supporting up to 50x leverage. According to previous news, Defi App will increase the airdrop ratio from 5% to 10%.

MEET48 announces the launch of $IDOL airdrop plan, TGE will be launched soon

MEET48, the first AI-Agent and AIUGC creator and fan economy ecological community in Web3.0 focusing on the entertainment field, announced the launch of the $IDOL airdrop plan, and officially launched the $IDOL airdrop query page at 11:00 (UTC+8) on June 9, 2025. The qualification snapshot of this airdrop was completed at 16:00 UTC on May 21, covering users who interacted with the MEET48 ecosystem, cooperative communities, special contributors, active users of Mars Protocol, creators, the top three of "The Mars Audition for Best3 AI-MEME", and ecological NFT holders. Users can log in to the airdrop page through their wallet address, email or account ID to check the eligibility and quantity of the airdrop. After TGE, the first airdrop will be opened immediately, with a validity period of 14 days, and it will be deemed to be automatically abandoned after the expiration. $IDOL obtained through airdrop can be used to participate in the voting of the 1st Web3.0 All-Community Annual Idol Popularity Audition & Ceremony (WIPA). If users choose to use the part that has not been unlocked to vote, it will be deemed that they have voluntarily given up the subsequent linear unlocking rights of this part of the tokens. According to the rules, 50% of the airdrop shares will be released at TGE, and the remaining part will be linearly unlocked in 6 installments on a monthly basis starting from 6 months later.

Defi App increases airdrop ratio from 5% to 10%

The decentralized application Defi App announced that it has completed the community vote and increased the airdrop ratio from 5% to 10%. Earlier news was that Binance Alpha platform will launch DefiApp (HOME) on June 10.

Important data

Galaxy Digital received another 501 BTC from Jump 2 hours ago

According to The Data Nerd, Galaxy Digital received another 501 BTC (worth $53 million) from Jump 2 hours ago. In 3 days, Galaxy Digital received a total of 1,001 BTC (worth $10,532) from Jump. Currently, Galaxy Digital holds 4,377 BTC (worth $462.37 million).

A smart money address has accumulated profits of more than 38 million US dollars in HYPE transactions

According to Lookonchain monitoring, a smart money address that has accumulated profits of more than $38 million in HYPE transactions has attracted attention: trader 0xda3c conducted 8 perpetual contract transactions on HYPE - all profitable, earning a total of $1.95 million. Six months ago, he spent $5.2 million to buy 1.21 million HYPE (now worth $42.2 million) at a low price of only $4.3. Today, he sold 131,137 HYPE (worth $4.7 million) and still has 605,247 HYPE (worth $21.3 million) in pledge.

CoinShares: Ethereum inflows of $296.4 million last week, the seventh consecutive week of inflows

According to CoinShares' latest weekly report, digital asset investment products received inflows of $286 million last week, pushing the total inflow for seven consecutive weeks to $11 billion. However, due to the uncertainty of the U.S. Federal Reserve's policy, the pace of inflows has slowed, and investors generally take a wait-and-see attitude. Ethereum performed strongly, with inflows of $296.4 million last week, the seventh consecutive week of inflows, totaling $1.5 billion, accounting for 10.5% of total assets under management, the best performance since the U.S. election last year. In contrast, Bitcoin saw outflows for the second consecutive week, totaling $56.5 million, and short Bitcoin products also suffered outflows. In terms of other crypto assets, Sui attracted a small inflow of $1.1 million, while XRP saw outflows for the third consecutive week, totaling $6.6 million. Overall, altcoin market activity is relatively sluggish.