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According to CoinDesk, Wall Street broker Bernstein pointed out in a recent report that the rapid integration of the market technology stack is increasing the likelihood of a new round of mergers and acquisitions in the field of sports event contracts and financial markets.The report states that in the past eight months, major prediction platforms have been developing towards simultaneously controlling customer distribution and exchange infrastructure. Although Kalshi and Polymarket have core technology stacks, their distribution capabilities are relatively lagging, making them potential acquisition targets.Recent actions include DraftKings acquiring Railbird to launch DKeX, Robinhood collaborating with Susquehanna to create Rothera, and Coinbase acquiring The Clearing Company. Bernstein believes that Robinhood and Coinbase are currently in a relatively advantageous position in the competitive landscape, as both have large consumer user bases and fully owned regulated infrastructures, while Kalshi and Polymarket are viewed as potential acquisition targets due to their lack of large-scale distribution capabilities.

According to Jinshi, the U.S. Supreme Court declined to review the constitutionality of a now-repealed policy of the U.S. Securities and Exchange Commission (SEC).The policy previously required individuals and companies that reached enforcement settlements with the SEC not to publicly criticize or question the allegations made by this Wall Street regulatory agency. The U.S. Supreme Court justices did not provide any explanation on Monday when they rejected the challenge regarding whether the SEC's so-called "gag order" infringed on individual constitutional rights.

According to Wccftech, investment bank Jefferies' latest research report indicates that due to the ongoing global supply shortage and strong demand for AI computing power, memory chip prices are expected to see a significant increase in the second half of 2026 and in 2027.The report predicts that memory chip prices will rise by 40% to 50% quarter-on-quarter in the third quarter of 2026, and will continue to rise by 30% to 40% quarter-on-quarter in the fourth quarter; by 2027, the overall year-on-year price increase will reach 40% to 45%. It is not until 2028, with the introduction of 15% to 20% of new production capacity into the market, that prices are expected to decline.Additionally, the report emphasizes that currently about 50% of global memory production capacity is locked in by long-term agreements (LTA) with large technology companies, which will further compress supply in the consumer electronics market and drive up end-user costs. Analysts also believe that before the large-scale expansion of capacity by domestic Chinese memory manufacturers in 2028, it will be difficult to significantly alleviate the tight situation and prices in the global market.

According to Dr. Crossroads' analysis, Robinhood's event prediction market revenue is expected to surpass its traditional cryptocurrency trading revenue as early as the second quarter of this year. Data shows that as of June 25, Robinhood has recorded approximately 12.3 billion event contract trades in the second quarter. Based on the usual 1 cent per contract revenue share, this is expected to contribute at least $123 million in single-quarter revenue, pushing the annualized revenue rate (ARR) of this business to $500 million. In comparison, due to the decline in institutional trading volume, its cryptocurrency business revenue in the second quarter is expected to fall below the first quarter's $134 million.At the same time, Robinhood's newly launched prediction market platform Rothera has surpassed 900 million contracts traded in its first week, bringing nearly 60% of potential contract trading increment to the company. Through Rothera's full-stack self-research and vertical integration, Robinhood plans to change the current fixed model where users pay 2 cents per contract (with the company and partner exchanges each receiving 1 cent), reducing the new fee rate to a minimum of 0.6 cents. This move aims to sprint into the top three in the industry through core price advantages while retaining the economic benefits of trade execution entirely within its ecosystem while passing savings on to users.

According to The Block, influenced by the maturation of the crypto market and the rapid development of emerging technologies, several leading crypto venture capital firms are shifting their investment focus from the pure crypto sector to a broader "frontier technology" track, involving AI, robotics, fintech, and biotechnology.It is reported that Framework Ventures and Haun Ventures have recently raised $400 million and $1 billion funds respectively to support cross-domain layouts; Paradigm is planning to raise up to $1.5 billion for a frontier technology fund; and the former Binance incubator YZi Labs has also ventured into the fields of AI and biotechnology.Industry investors analyze that the core reasons for this strategic shift are the demand for capital deployment brought about by the expansion of fund sizes, the decrease in high-quality pure crypto projects, and the increasing integration of adjacent technologies such as blockchain and AI. Some venture capitalists predict that as cryptocurrencies gradually integrate into a broader technology ecosystem, the exclusive label of "crypto VC" may gradually fade, and the market will ultimately differentiate into large multi-strategy investment funds and a few vertical investors focused on digital assets. However, some institutions like a16z Crypto and Dragonfly still insist on deepening their investment strategies in the pure crypto sector.

According to SoSoValue data, during the last trading week (Eastern Time from June 22 to June 26), the Ethereum spot ETF had a net outflow of $273 million.The Ethereum spot ETF with the highest net outflow last week was the Blackrock ETF ETHA, with a weekly net outflow of $236 million, and the historical total net inflow for ETHA has reached $11.08 billion. Following that was the Grayscale Ethereum Trust ETH, with a weekly net outflow of $22.23 million, and the historical total net inflow for ETH has reached $1.83 billion. The Ethereum spot ETF with the highest net inflow last week was the Bitwise ETF ETHW, with a weekly net inflow of $557,000, and the historical total net inflow for ETHW has reached $385 million.As of the time of writing, the total net asset value of Ethereum spot ETFs is $8.38 billion, with an ETF net asset ratio (market value as a percentage of Ethereum's total market value) of 4.42%, and the historical cumulative net inflow has reached $10.90 billion.

According to GMGN data, the top 5 trending sector tokens in the past 24 hours are as follows:ANSEM (9cRC....ump): Currently priced at $0.1218, market cap of $200 million, 24h increase of +1.57K%, 24h trading volume of $91.12 million, number of trades 353,016;🐂🀄️ (EPD8....nBh): Currently priced at $0.0007, market cap of $620,000, 24h increase of +14K%, 24h trading volume of $10.23 million, number of trades 126,181;CUPSEY (BwAU....ump): Currently priced at $0.0003, market cap of $280,000, 24h increase of +5.29K%, 24h trading volume of $6.37 million, number of trades 66,937;WYNN (G9ds....ump): Currently priced at $0.0006, market cap of $530,000, 24h increase of +25K%, 24h trading volume of $5.21 million, number of trades 63,573;🐂🀄 (7jra....ump): Currently priced at $0.0002, market cap of $170,000, 24h increase of +4.68K%, 24h trading volume of $2.40 million, number of trades 47,653;

The Chief Information Security Officer of Slow Fog, 23pds, posted on the X platform that curl recently fixed 18 security vulnerabilities, involving issues such as authentication bypass, memory safety, and host verification, among which one libcurl vulnerability has existed for about 25 years. The risks are not limited to the curl command line but also widely affect applications, SDKs, containers, firmware, gateways, and CI/CD environments that rely on libcurl. It is recommended to upgrade curl/libcurl as soon as possible and check for the use of old versions of libcurl, especially paying attention to mTLS, proxy authentication, and connection reuse scenarios.

According to Chosun Biz, South Korea's Kiwoom Securities is seeking to acquire a stake in South Korea's second-largest virtual asset exchange, Bithumb. Both parties are discussing the issuance of new shares through a third-party allotment, with the specific equity ratio and investment scale still being coordinated.South Korean securities companies are rushing to enter the virtual asset industry ahead of the issuance of security tokens (STO) and the institutionalization of stablecoins; the Financial Services Commission of South Korea is also discussing the major shareholder equity regulations in the second phase of the virtual asset law, which will generally limit the shareholding ratio of major shareholders in virtual asset exchanges to 20%, with exceptions allowing up to 34%. Bithumb's largest shareholder, Bithumb Holdings, currently holds 73.56%, and if the relevant regulations are implemented, it will need to reduce its stake by more than 50 percentage points.

As of the week ending June 26, the net outflow of the U.S. spot Bitcoin ETF was $1.79 billion, setting the second-largest single-week net outflow record in history, with the number of consecutive weeks of net outflows extending to seven weeks.

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.

Etherlink posted on platform X that the Etherlink EVM Bridge has become a target of a security attack. As a precaution, all transfers have been suspended to protect user funds while the issue is being investigated. No funds have been lost.The team is working closely with LayerZero, Asymmetric Research, and Zeeve to investigate the issue and ensure that the attack attempts are fully mitigated. A timeline for restoring services has not yet been determined.

According to Jinshi reports, the research report from Zhongtai Securities indicates that overall, the market is likely to maintain a clear bottom and a pattern of consolidation in the next week or two. After the important IPO listings, as market uncertainties settle and sentiment improves, the market is expected to welcome a rally towards previous highs/new highs. The subsequent market style will still be technology diffusion rather than style switching.Focus on technology: storage and semiconductor equipment, overseas computing power chains. Storage and semiconductor equipment are currently the most certain directions.Non-technology directions: new energy, AI-related new materials and minor metals, engineering machinery, and brokerage firms. In the new energy sector, the electricity demand driven by AI computing power expansion and the logic of going overseas constitute medium-term support. In terms of AI-related new materials, the price increase spiral for copper-clad laminates (CCL) has already begun. Brokerage firms benefit from IPO participation and active market trading, still presenting opportunities for fluctuations.

Fidelity Digital Assets recently released a research report that positively addresses concerns about the long-term impact of Bitcoin halving on network security. The report's author, Fidelity research analyst Daniel Gray, pointed out that Bitcoin network security relies not only on block rewards but also on transaction fees, market incentives, and other economic forces that continuously motivate miners to maintain network security, making the cost of sustained attacks prohibitively high.On the data front, Gray noted that despite the ongoing reduction in block subsidies, the rise in Bitcoin prices has significantly offset this impact. The average daily income of miners has increased from about $26,300 during the first halving cycle to over $40,200 today. He wrote, "Despite the decrease in issuance, miner incentives and the resulting network security have historically strengthened alongside the rise in Bitcoin prices."Since the fourth halving in April 2024, the block subsidy for miners has decreased from 6.25 to 3.125 Bitcoins per block. However, the optimistic conclusions of the report starkly contrast with the current realities faced by publicly traded mining companies. Several industry analysts describe the current environment as one of the most challenging for mining on record, due to the simultaneous decline in block rewards, rising operational costs, and increased competition.In response, several mining companies have begun to transition to the AI and high-performance computing sectors, leveraging existing power infrastructure to meet AI computing demands. VanEck estimates that publicly listed mining companies may need to raise up to $50 billion in additional funds to fully transition to AI infrastructure, but the requirements for AI data centers regarding facility standards, cooling, power redundancy, and networking are far higher than those of traditional Bitcoin mining operations, making the transition challenges significant.

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative territory for 40 consecutive days, with the latest report at -0.1569%. This indicator is often regarded as an important reference for measuring the strength of Bitcoin demand in the U.S. market.

According to The Block, Base experienced a second mainnet block production anomaly within two days. According to the official status page, the incident occurred at 15:33 UTC, and the team subsequently confirmed the issue and resumed block production at 16:11. Base stated that node operators need to restart the Base mainnet nodes to complete synchronization again. This incident exhibited symptoms similar to the failure from the previous day.On Thursday, Base had previously experienced a network halt for about two hours due to an anomalous block that prevented the sequencer from continuing to build new blocks. Although user funds were not affected, withdrawal services were temporarily interrupted. The official statement indicated that this failure also manifested as a chain halt, sharing similar characteristics with the previous day's incident. The network has now resumed operation.

Aave founder Stani Kulechov posted that Aave is expanding its business boundaries from crypto assets to traditional assets, launching securities collateral loans and securities lending services.Aave executive Luigi D'Onorio DeMeo pointed out that the global securities lending market has a borrowing scale of approximately $4.6 trillion and annual revenue of about $35 billion, but most of the profits are captured by brokers and platforms (such as Robinhood, Schwab), and users typically only receive a small percentage of the lending fees.Aave plans to allow users to directly tokenize stocks (such as AAPL, TSLA) on-chain as collateral or lending assets through V4, earning the full lending rate, and providing advantages such as real-time transparent pricing, no re-collateralization, and no intermediary cuts, in order to compete for market share in the traditional securities lending market.