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According to Bitcoin Magazine, Galaxy Research has lowered the probability of the passage of the CLARITY Act in 2026 from 60% three weeks ago to 50%, due to the increasingly tight Senate schedule, the lack of a published merged text for the bill, no scheduled votes, and no public commitment from leadership. The bill has been listed as item 423 on the legislative calendar since it passed the Senate Banking Committee on May 14 with a vote of 15-9, but no motion to advance it has been scheduled to date.The report indicates that the Senate must announce a schedule by early July to complete voting before the August recess; otherwise, it will be postponed until September, when the upcoming midterm elections will make controversial votes harder to arrange. Priority legislation such as FISA Section 702 and the NDAA occupies a significant amount of time, and Trump's veto of the housing bill further exacerbates scheduling pressures.The substantive content of the bill has not yet been fully resolved, and ethical provisions remain a core controversy, with at least two Republican senators expected to vote against it, making Democratic support essential. The report suggests that if leadership clarifies a commitment to vote in July within the next two weeks, the probability of passage will rise to 60% or higher; if there is continued lack of progress, it will be further lowered.

StableStock officially launched its leveraged spot trading feature today. Users can now directly use stablecoins to conduct leveraged spot trading on global market targets, accessing the real stock market through stablecoins.Leveraged spot trading supports zero interest for intraday trading: positions opened and closed before the end of the day's after-hours session do not incur interest, with only the overnight portion subject to interest calculation according to the rules, effectively reducing the holding costs for active traders. This covers major global markets, allowing for leveraged trading on over 700 targets, with a maximum leverage of about 10 times, including SK Hynix, Samsung Electronics, Zhizhu, and many popular US stocks; in addition to individual stocks, several short (inverse) ETFs are also included, providing options on both long and short sides.StableStock CEO Zixi stated: "Leveraged spot trading further connects stablecoin settlement with the real stock market, marking another step for stablecoins from being a settlement tool to becoming an entry point for real asset trading."Users must complete identity verification (KYC) and transfer funds to the leveraged account before use; interest calculation, forced liquidation, and other details are subject to the product page. Leveraged trading will amplify both gains and losses, so please use it cautiously.StableStock is supported by institutions such as YZi Labs, MPCi (Matrix Partners China), and Vertex Ventures, and currently supports trading on approximately 1,400+ global stock targets, with plans to continue expanding into more markets and categories.

According to monitoring by Catcher Predict, in the event "Dota 2 Nigma Galaxy vs Yellow Submarine European Qualifiers" on the prediction market Polymarket, the winning probability of the sub-market "First Kill of the Second Game" for the option "Nigma Galaxy" has experienced significant fluctuations, rising from 55.5% an hour ago to the current 74.95% (a fluctuation of 19.45%). Please note the impact of relevant breaking news.

According to a report by crypto.news, Galaxy Digital CEO Mike Novogratz stated that the core reason for Bitcoin's recent decline is the "collapse of confidence triggered by Strategy." The issue lies not only in the price of Bitcoin itself but also in the growing concerns in the market regarding Strategy's financing model.As the largest publicly traded holder of Bitcoin globally, Strategy's stock and preferred securities have become key indicators for traders to measure Bitcoin market risk. Previously, the company's Bitcoin flywheel effect had come under pressure, with stock trading prices dipping below the value of its Bitcoin holdings, indicating that its long-reliant "premium stock issuance to repurchase Bitcoin" model is being challenged. Novogratz bluntly stated that STRC trading is weak, which should have been maintained around $100. Currently, Strategy's annual dividend obligation has risen to about $1.2 billion, and a decline in cash reserves has reduced the dividend coverage period to only about 14 months.Bitcoin is also facing pressure on a macro level. Novogratz summarized the current market logic as "a strong dollar means a weak Bitcoin," with hawkish central bank signals and a strengthening dollar suppressing demand for risk assets. From a technical perspective, the $59,000 to $60,000 range for Bitcoin has become a critical defense line, and if it breaks down, the downward space could open up to $45,000.Novogratz also admitted that the current situation is complex, with a 50-50 probability of a rebound or a deep correction. Outflows from ETF funds, weak liquidity, and cautious positioning in the options market further confirm the fragile market sentiment. Now, the health of Strategy's balance sheet, the performance of STRC prices, and cash positions have evolved from being company-level issues to becoming confidence signals for the overall Bitcoin market.

According to CoinDesk, U.S. House Democrat Maxine Waters submitted an 11-page letter to the U.S. Department of Labor, requesting the withdrawal of a proposal that allows 401(k) retirement plans to invest in alternative assets (including private equity, private credit, real estate, commodities, and digital assets).Waters stated, "On one hand, the Department of Labor acknowledges that digital assets are suitable for the retirement savings of ordinary Americans, while on the other hand, the Securities and Exchange Commission (SEC) is still building investor protection mechanisms aimed at ensuring the safety of ordinary investors in these assets, which is inherently contradictory. The risks are not limited to the volatility of individual tokens (although the volatility is indeed significant); it reflects the general deterioration of the entire digital asset ecosystem, with trading activity, developer participation, and user engagement all significantly declining."Waters previously served as the chair of the House Financial Services Committee during the last Democratic administration, and if the Democrats win a majority in the U.S. House of Representatives after the November midterm elections, she may again serve as the chair of that committee.

The AI infrastructure platform B.AI disclosed its latest operational data on June 25. The data shows that the platform's daily token throughput has reached 15.37 billion, maintaining a high-load inference operation status for several consecutive days.In addition, the platform's API call proportion has risen to 99.6%, primarily supporting large-scale AI agents, automated processes, and enterprise-level core system applications. In terms of specific model ecosystem performance, the MiniMax M3 large model continues to rank first in call popularity.

According to monitoring by Catcher Predict, in the predicted market Polymarket for the event "Dota 2: Team Spirit vs Nigma Galaxy - International Europe Closed Qualifiers Playoffs," the sub-market "Ends During the Day" option's win rate has experienced significant fluctuations, soaring from 49.5% an hour ago to the current 90% (a fluctuation of 40.5%). Please note the impact of related breaking news.

The gold token PAXG issued by Paxos has been launched on the Solana mainnet through the Sunrise protocol, becoming the first gold token regulated by the Office of the Comptroller of the Currency (OCC) and available in the Solana ecosystem.

According to Gate market data, the Nasdaq 100 Index turned negative, giving back a gain of up to 2.1%.

According to the official announcement, Bitget has launched perpetual contracts for two stocks: ZHIPU (ZhiPu AI) and MINIMAX (MiniMax).

The Korean Tax Tribunal recently made a re-investigation ruling on a dispute regarding the gift tax on Bitcoin. The case involves whether transferring Bitcoin through a spouse's overseas exchange account constitutes a gift, which has attracted widespread attention in the cryptocurrency tax community. The case shows that taxpayer A transferred 67 Bitcoins stored in a personal hardware cold wallet (Ledger) to avoid direct transfer to a domestic exchange due to the Travel Rule regulatory restrictions in South Korea, using spouse B's overseas exchange account for the transfer. The entire process took only 2 to 8 minutes, after which the Bitcoins were sold to purchase real estate.The tax authorities determined that this action constituted a gift between spouses and imposed a gift tax on A. A appealed, claiming that the Bitcoins were personal assets held since before 2014 and submitted a memorandum of understanding signed with the spouse—where it was agreed that if the Bitcoins appreciated, real estate would be purchased, and 13 Bitcoins would be gifted to the spouse as compensation. A argued that determining it as a gift solely based on the brief passage of funds through the spouse's account was a qualitative error.After review, the Tax Tribunal found that A failed to adequately submit key evidence such as the memorandum of understanding, gift contract, and photos of the hardware wallet during the tax investigation, leading to flaws in the investigation process. At the same time, the distribution method of 67 Bitcoins transferred to A's account and 13 Bitcoins retained under the spouse's name was consistent with A's statements. Based on this, the Tribunal ruled that a new investigation must be conducted regarding the actual ownership of the hardware wallet and the substantive ownership of the digital assets. This case is seen as a landmark case in South Korea's cryptocurrency tax practice, directly addressing the challenges of determining ownership of cold wallet assets and the tax classification of cross-account transfers.

According to BBX data, yesterday two leading publicly listed companies in the cryptocurrency sector completed key historical matters and strategic upgrades. The core updates are as follows:Hut 8 Corp. (Nasdaq: $HUT) officially disclosed on June 23 that the company agreed to pay investors $2.35 million in cash to settle a securities class action lawsuit arising from the merger with U.S. Bitcoin Corp (USBTC) in 2023. The case is being handled by the U.S. District Court for the Southern District of New York, with the plaintiffs being investors who held Hut 8 securities from February 13, 2023, to January 18, 2024. The core allegation is that the company significantly omitted disclosures regarding infrastructure issues at its King Mountain Texas Bitcoin mine (including energy limitations and network connectivity failures) during the merger process, constituting substantial misrepresentation to investors. The trigger for this case was a report released by short-selling firm J Capital Research on January 18, 2024, which questioned the company, leading to a single-day drop of over 23% in Hut 8's stock price. The $2.35 million settlement amount represents approximately 19.6% of the plaintiffs' estimated maximum recoverable damages of $12.08 million, exceeding the historical median settlement ratio for similar cases involving only Securities Act claims; the settlement is still subject to final court approval, and Hut 8 denies any wrongdoing or legal liability. This settlement eliminates the last significant historical legal uncertainty in the company's AI/HPC data center transformation narrative, allowing the valuation logic for the timely delivery of its River Bend ($7 billion contract) and Beacon Point ($9.8 billion contract) dual campuses within the year to unfold against a cleaner balance sheet backdrop.Galaxy Digital Inc. (Nasdaq: $GLXY) announced on June 23 a strategic investment in Digital Prime Technologies (a securities lending technology platform), with specific financial terms not disclosed. This investment builds on Galaxy's existing role as a participant in the Tokenet platform—Tokenet is developed in collaboration between Digital Prime Technologies and institutional securities lending infrastructure provider EquiLend, set to officially launch in May 2026, aiming to bring mature workflows, risk control mechanisms, and full lifecycle management systems from the institutional securities lending sector into the digital asset lending market. By upgrading from a platform participant to an equity investor, Galaxy directly ties the operation of the Tokenet platform to its own institutional lending and trading business, forming a triple synergy of "product + balance sheet + equity." This move is highly consistent with Galaxy's overall business strategy: based on the stable cash flow foundation provided by the CoreWeave 15-year AI data center lease (Phase 1 133MW delivered in April), it aims to deepen its institutional digital asset lending infrastructure layout, further reducing reliance on the single Beta of Bitcoin prices—on the same day, Galaxy was also listed in institutional research reports as one of the few cryptocurrency concept stocks capable of maintaining business resilience during Bitcoin price downturns, with its diversified layout seen as a core reason for being relatively decoupled from pure BTC price exposure.

According to Cointelegraph, Ethereum is embroiled in a fierce governance debate over the source of core development funding. Last Friday, former Ethereum Foundation contributor Trenton Van Epps warned that as old support programs deplete and foundation expenditures shrink, the core development ecosystem could face a "slow-burning funding crisis" within three to nine months, requiring approximately $30 million annually to maintain over a dozen clients, research, and coordination teams.The core of the debate stems from the "validator redirect income" proposal put forward by Kleros co-founder Clément Lesaege, which suggests redirecting 0% to 10% of validator rewards to an ecosystem funding pool, estimated to generate about 50,000 to 70,000 ETH annually at current staking levels. This proposal has faced widespread opposition, with critics warning that it could entrench the power of large validators and blur the boundaries between operations and governance. Some community members previously countered that the foundation's funds are sufficient to operate for 30 years, but the foundation's actual decisions indicate that it is actively shrinking expenditures and pushing for diversified funding models.On Monday, a nonprofit organization called EthLabs was announced, initiated by five former Ethereum Foundation researchers, aiming to directly fund development through large ETH holders. On Tuesday, Ethereum founder Vitalik Buterin stated that the foundation is cutting its budget by about 40% according to established policies and has recently laid off 54 people.

According to market news, Japanese cryptocurrency automatic profit and loss calculation service provider Pafin will acquire industry backbone company Gtax and plans to complete the service brand integration in October.

According to Bloomberg Tax, U.S. Senate Republican tax drafter Steve Daines stated that the cryptocurrency tax legislation framework being advanced by the Senate has basically taken shape and may be announced as early as this fall. Daines said that the framework is "more similar than different" to the version previously released by the House Ways and Means Committee, and he hopes to hold a legislative markup meeting within this year, but did not disclose specific details.

The Ethereum community is debating the proposal to tax staking rewards. The newly established EthLabs has received support from institutions such as BitMine, providing off-chain funding alternatives for ecological development.

According to monitoring by Catcher Predict, in the predicted market Polymarket for the event "Dota 2: Nigma Galaxy vs Natus Vincere - International Europe Closed Qualifiers Playoffs," the "Yes" option in the sub-market "Both teams defeat Roshan" has seen a dramatic fluctuation in win rate, soaring from 50% an hour ago to the current 90% (a fluctuation of 40%). Please note the impact of related breaking news.

According to on-chain analyst Yu Jin's monitoring, the largest long position holder on the Hyperliquid platform holds a long position worth $415 million through 7 addresses, including 120,000 ETH (approximately $271 million, with an opening average price of $2,261) and 2,000 BTC (approximately $144 million, with an opening average price of $72,134). With the recent price drop, the current unrealized loss has reached $91.46 million, close to $100 million.Due to the relatively low actual leverage ratio, there is currently no liquidation risk, with the ETH liquidation price around $1,160 and the BTC liquidation price around $47,000.

On June 23, WEEX Exchange announced that the WEEX Gold Contract Trading Competition has been extended until June 30. During the event, new users who net recharge ≥ 100 U and complete their first spot transaction of gold tokens (PAXG / XAUT) (trading volume ≥ 50 U) will receive a 10% interest coupon for PAXG / XAUT wealth management and a bonus of 10 USDT. In addition, both new and existing users participating in PAXG / XAUT contract trading can receive corresponding rewards by achieving trading volume tasks, with a maximum individual bonus of 200 USDT.

The Sun Wukong Ecology announced that it will hold a roundtable discussion today at 20:00 Beijing time at X Space, themed "High-Performance Open Source Model M3 Free Access! B.AI partners with MiniMax for exclusive full subsidies to accelerate the implementation of the Agent economy."It is reported that this event will feature special guests from MiniMax and industry KOLs, who will delve into how the exclusive subsidy program launched by B.AI in collaboration with MiniMax empowers complex Agent scenarios. Participants will focus on the dual reduction trend in development thresholds and costs for AI Agents under the "free access" model, analyzing its role in promoting the large-scale practical application of the Agent economy.