Cryptocurrency

Summary U.S.-listed Bitcoin spot ETFs have experienced record fund outflows in June, with investors withdrawing over $4 billion cumulatively, the highest monthly outflow since the products were approved in January 2024. Meanwhile, Bitcoin has fallen below the $60,000 mark, down nearly 7% for the week, indicating that institutional risk appetite for crypto assets is cooling significantly. Details According to CoinDesk, as of June 29, net outflows from the eleven U.S. Bitcoin spot ETFs have reached $4 billion this month, with Grayscale GBTC contributing the largest share. This figure breaks the previous outflow record set in March, suggesting institutional withdrawal is accelerating. ...

The world’s largest crypto exchange Binance notified EU users of partial service suspension after failing to secure MiCA compliance license, marking a major clash between crypto industry and EU regulation.

Major Japanese financial services group SBI Holdings announced the acquisition of crypto exchange Bitbank for $289 million, with the deal expected to close in October 2026, marking traditional finance’s accelerating entry into digital assets.

Bitcoin miners face an intensifying profit squeeze as industry-wide revenue has fallen below production costs, forcing some high-cost operations to seek transformation.

Summary US Senate Democrats have formally requested congressional hearings into a $500 million investment by UAE government-linked officials into World Liberty Financial, the cryptocurrency platform launched by the Trump family. Lawmakers are questioning whether the massive investment influenced President Trump’s policy decisions on cryptocurrency and Middle East affairs, sparking widespread discussion about conflicts of interest. Details According to CoinDesk, Senate Democrats sent letters to relevant committees demanding a full investigation into UAE government officials’ $500 million injection into World Liberty Financial. The platform was launched by the Trump family in 2024, aiming to build a decentralized financial services ecosystem. ...

Core Summary Ethereum co-founder Vitalik Buterin has announced that the Ethereum Foundation will slash its budget by 40% and cut 20% of its workforce. The restructuring comes alongside the departure of co-Executive Director Hsiao-Wei Wang, marking the most significant organizational overhaul in the Foundation’s history. Event Details The Ethereum Foundation confirmed the major restructuring on June 23. Vitalik Buterin stated the Foundation will reduce its budget by 40% to allocate resources more efficiently. On the same day, the Foundation confirmed a 20% workforce reduction and a reorganization into five core clusters. ...

CoinDesk reports that Kentucky is advancing regulatory legislation targeting prediction markets, potentially making the state a red state that clashes with the Trump team on policy. The Trump family has recently been deeply involved in prediction market platforms, and this regulatory move has raised industry concerns about political interference. Analysts note that prediction markets, as an important application track in the crypto industry, will affect the broader digital asset market landscape. ...

Illinois added a 0.2% tax on digital asset holding and transfers in its state budget at the last minute, drawing strong opposition from the crypto industry.

Investment firm VanEck has released a report stating that Bitcoin miners’ plans to pivot to AI data centers face approximately $50 billion in funding gaps, with reality proving far more challenging than expected.

Core Summary Zimbabwe enacted Statutory Instrument 99 of 2026 on June 12, requiring all virtual asset service providers operating in the country to register with the Reserve Bank of Zimbabwe’s Financial Intelligence Unit. This marks a shift from the country’s eight-year-old crypto ban to formal regulation. Details Eight years ago, the Reserve Bank of Zimbabwe prohibited domestic banks from handling cryptocurrency. The new regulation requires all crypto firms to complete registration and submit to anti-money laundering and counter-terrorism financing reviews. This aligns with a broader African trend toward crypto regulation, with Nigeria and Kenya also advancing similar frameworks. ...