L1 blockchain project Defx completes $2.5 million seed round, with Pantera Capital and others participating

Crypto exchange Coinbase is facing backlash for sponsoring U.S. President Donald Trump’s controversial military parade in Washington, D.C. on Saturday, June 14. Coinbase Sponsorship Sparks Military Controversy Social media was flooded with videos and images of Coinbase’s sponsorship at the event , which was intended to mark the U.S. Army’s 250th anniversary and coincided with Trump’s 79th birthday. US Army, sponsored by Coinbase pic.twitter.com/c3KtJNFQdQ — Luke Metro (@luke_metro) June 15, 2025 Longtime Coinbase customer Adam Cochran took to X on Monday to share that he would be selling his positions in the crypto company, calling the organization’s decision to back the event “gross” and “bad marketing” for mainstream digital asset adoption stateside. “It’s time for me to vote with my wallet and use alternatives that either align with my values or that can actually keep their ‘credibly neutral’ stance, instead of only applying it conveniently,” Cochran wrote. “If you told me a few years ago Coinbase would be a sponsor to a U.S. military parade I’d think you were insane,” another X user wrote. America250, the organization behind this past weekend’s event, confirmed the Brian Armstrong-led crypto exchange as one of its high-profile sponsors in a June 9 press release. Additional sponsors of the parade included military giant Lockheed Martin, defense company Palantir, and shipping organization FedEx. Protests Erupt Amid Military Parade Trump largely used his remarks at the event to laud the U.S. military, calling it the “greatest, fiercest, and bravest fighting force” globally. “Every other country celebrates their victories,” Trump told attendees. “It’s about time America did too.” However, not everyone was as receptive to Trump’s militaristic grandstanding, with “No King” protests breaking out nationwide in opposition to the opulent parade. Today, I stand with the millions of Americans making clear this country doesn't belong to a king. It’s a democracy, and it belongs to the people. https://t.co/c3BlFb9dCe — Elizabeth Warren (@SenWarren) June 14, 2025 “Today, I stand with the millions of Americans making clear this country doesn’t belong to a king,” Senator Elizabeth Warren (D-MA) said in a June 14 statement. “It’s a democracy, and it belongs to the people.”

As Bitcoin stabilizes and Ethereum matures, early-stage protocols like Neo Pepe are emerging as crypto’s next breakout bets. #partnercontent

Strategy disclosed in a Form 8‑K filed June 16 that it has purchased an additional 10,100 Bitcoin at a cost of approximately $1.05 billion, representing an average acquisition price of about $104,080 per bitcoin. Strategy has acquired 10,100 BTC for ~$1.05 billion at ~$104,080 per bitcoin and has achieved BTC Yield of 19.1% YTD 2025. As of 6/15/2025, we hodl 592,100 $BTC acquired for ~$41.84 billion at ~$70,666 per bitcoin. $MSTR $STRK $STRF $STRD https://t.co/BOs3GOaUva — Strategy (@Strategy) June 16, 2025 This latest investment raises Strategy’s total Bitcoin holdings to approximately 592,100 BTC, solidifying its standing as one of the largest corporate Bitcoin holders globally. The firm continues executing on its “buy and hold” strategy, fueled by proceeds from equity and debt financing, rather than using its at‑the‑market programs. Importantly, Strategy did not sell any stock or Bitcoin in the days surrounding the acquisition. Continued Confidence in Bitcoin’s Long-Term Value In the filing, Strategy’s management stresses its unwavering conviction in Bitcoin’s long-term value proposition, although they acknowledge the volatility and risks associated with such a concentrated treasury allocation. The filing explicitly warns that the absence of diversification heightens exposure to Bitcoin’s short-term price fluctuations: “The concentration of our assets in Bitcoin limits our ability to mitigate risk that could otherwise be achieved by holding a more diversified portfolio.” Strategy notes that this strategy “has not been tested over an extended period of time or under different market conditions.” Financing and Risk Factors The 8‑K also discloses that Strategy’s Bitcoin acquisitions are financed primarily through debt and equity, making the company dependent on favorable financing conditions to sustain its accumulation trajectory. Strategy also flags counterparty and custody risks, acknowledging that if custodians were to undergo insolvency, access to stored bitcoin might be impeded. This purchase follows a recent 10-for-1 stock split in August 2024, ensuring that per-share metrics in the Form 8‑K reflect adjusted, post-split figures. With Bitcoin hovering around $104k, Strategy’s entry is striking for its size and continued commitment amid a volatile macroeconomic environment. Michael Saylor Extends Hand to Pakistan’s Crypto Ambition This weekend, Michael Saylor, the executive chairman of Strategy, reportedly met with top Pakistani officials to explore how crypto could help reshape the country’s financial future. The talks, described by officials as a “landmark discussion,” brought Saylor together with Finance Minister Muhammad Aurangzeb and Minister of State for Crypto and Blockchain Bilal Bin Saqib . The agenda focused on how Bitcoin could be used in sovereign reserves and monetary policy. Meanwhile, Pakistan is accelerating efforts to become a digital asset leader in the Global South. “Pakistan aspires to lead the Global South in the development and adoption of digital assets, setting a benchmark for innovation, regulation, and inclusive growth in the digital economy,” said Aurangzeb, who also chairs the Pakistan Crypto Council.