Crypto ETPs drew $858 million in inflows last week, led by Bitcoin with $706 million, as sentiment improved and short-BTC funds saw $14 million of outflows.
Cryptocurrency exchange MEXC has launched staking support for Bittensor's TAO token, enabling its 40 million users to earn rewards by securing the decentralized AI network. This integration, announced by Bittensor validator Yuma, aims to expand access and participation in the Bittensor ecosystem, which coordinates AI model development through 128 subnets.
Coinbase's Base network, led by creator Jesse Pollak, is "imminently" launching 1:1-backed tokenized equities, inspired by Robinhood Chain's success in an EVM environment. This move accelerates Base's strategic pivot towards financial applications, shifting from its earlier focus on social products.
Vietnam introduces fines for retail crypto users on unlicensed platforms, while Japan reclassifies crypto as financial assets with new tax rules and penalties. South Korea updates national asset management to include crypto and addresses platform hacks, while Malaysia faces controversy over a school hosting Israeli citizens. Coinbase reportedly opens verification for China-based users, and Hong Kong approves a tokenized fund.
XRP's open interest has surpassed $2.4 billion, increasing by $125 million in a week as traders boost derivatives exposure. The token trades near $1.13, requiring a daily close above $1.18 to confirm a stronger price expansion towards $1.26, with derivatives poised to amplify future moves.
Bitcoin (BTC) surged past $66,000, reaching a one-month high, driven by strong trader enthusiasm and short liquidations. Analysts predict further gains towards $70,000, while derivatives markets show a slow return of crypto risk confidence ahead of the Fed's July meeting.
Michael Saylor has joined the debate over Bitcoin's BIP-110 proposal, a temporary soft fork to restrict certain data uses, arguing it poses a greater risk than the problem it addresses. His intervention comes as signaling for BIP-110 remains low, making the current lock-in threshold mathematically unreachable and raising concerns about a potential chain split.
