North Korean Hackers Infiltrate Over 900 Cryptocurrency Companies
According to Beinkcrypto, citing blockchain security expert ZachXBT, North Korean hackers have systematically infiltrated over 900 global cryptocurrency companies. The media reported that "they have been confirmed to have secured internal system access by getting jobs at numerous cryptocurrency startups and then attempting hacking. The hackers showed several common characteristics during the hiring process, such as ambiguous employment histories, KYC refusal, and refusal of face-to-face meetings at actual residences. Some were simultaneously employed by multiple companies, with notably low work performance and high early resignation rates. The estimated cryptocurrency and fiat currency payments received by North Korean hackers as salary have reached approximately $16.58 million this year alone. Last week, they stole a total of $1 million from multiple Non-Fungible Token projects, and their infiltration and theft methods are becoming increasingly sophisticated."
Grayscale Digital Large Cap Fund Postpones Immediate ETF Conversion
Bloomberg analyst James Seyfarth shared on X that the U.S. Securities and Exchange Commission (SEC) approved the conversion of Grayscale's Digital Large Cap Fund ETF (BTC, ETH, XRP, SOL, ADA), but the approval document includes a statement that conversion is currently impossible. The approval document specifically states that the approval's effectiveness is suspended until further SEC orders. Another Bloomberg analyst, Eric Balchunas, speculated that "the SEC seems to be establishing listing standards before releasing altcoin spot ETFs."
BlackRock IBIT Surpasses S&P500 ETF Fee Revenue
According to Watcherguru, BlackRock's BTC spot ETF IBIT has exceeded the fee revenue of its flagship S&P 500 ETF 'IVV'. IBIT has recorded monthly net inflows in all but one month during the past 18 months since its launch in January last year. Based on an annual fee rate of 0.25%, IBIT is estimated to generate approximately $187.2 million in annual revenue, slightly higher than IVV's annual revenue of $187.1 million.
Ripple Applies for U.S. Bank License
According to Trinews, citing Reuters, Ripple (XRP) has applied for a bank license in the United States.
Bloomberg: Trump Family's Cryptocurrency Business Generates $620 Million in Assets
Bloomberg reported that Donald Trump and his family are generating substantial profits through cryptocurrency businesses. The media explained that "unlike traditional real estate development, the Trump family is quickly accumulating assets through licensing agreements leveraging their reputation, and this revenue model is accelerating in the cryptocurrency industry. Estimated cryptocurrency venture profits for the Trump family have reached at least $620 million since the relaxation of overseas transaction regulations during Trump's second administration. World Liberty Financial (WLFI) sold approximately $550 million in tokens by March this year, of which $390 million was attributed to the Trump family. The Trump family holds a total of 22.5 billion WLFI tokens, worth approximately $2 billion as of June. Additionally, WLFI recently launched its own stablecoin 'USD1', and Abu Dhabi investment firm MGX plans to invest $2 billion in Binance using WLFI, which has significantly increased USD1's circulation."
DeFi Development Expands Convertible Bond Size to $125 Million
Coindesk reported that Nasdaq-listed DeFi Development Corp (ticker: DFDV) has increased its convertible bond size to $112.5 million. Part of the fundraising is planned to be allocated to SOL purchases. Currently, DeFi Development holds 600,000 SOL as of May.
Aptos Labs Launches Stablecoin Remittance Service in Africa
Ublock Chain reported that Aptos (APT) Labs is collaborating with African stablecoin exchange Yellow Card to provide stablecoin remittance services in 20 African countries. Yellow Card users will receive gas fee support when trading USDT and USDC.
OpenAI: "Robinhood-Issued OpenAI Token Unrelated to Us"
Solid Intel reported that OpenAI stated, "The token is not OpenAI stock. We have not partnered with Robinhood and are not involved in this token issuance," in response to Robinhood EU's announcement of distributing OpenAI tokens to eligible users.
Anthony Scaramucci: "Bitcoin Financial Strategy Difficult to Sustain Beyond Strategy"
According to Coindesk, Anthony Scaramucci, founder of U.S. hedge fund SkyBridge Capital, predicted that companies' Bitcoin financial strategies would be difficult to maintain long-term. In an interview with Bloomberg, he said, "Currently, companies are following a 'copycat strategy', but this trend will disappear over time." He added, "Strategy is a special case as it has its own business sectors beyond Bitcoin. Most companies will find it difficult to be highly valued in the market simply by holding Bitcoin. While investors may pay attention to companies holding Bitcoin in the short term, ultimately business profitability and value creation capabilities will return as the core evaluation criteria."
Vitalik Buterin: "If Decentralization Remains Just a Slogan, Ethereum Could Disappear"
Ethereum (ETH) founder Vitalik Buterin said at the Ethereum Community Conference keynote speech in Cannes, France, "If decentralization remains just a slogan, Ethereum will eventually disappear like other technologies." He added, "The cryptocurrency industry must never lose its technological principles. If sustainable decentralization is not achieved, Ethereum will fade away just like traditional technologies. The tasks Ethereum should focus on for the next 10 years include ▲passing the 'Walk-Away Test' where assets remain safe even if development entities disappear ▲building a protocol structure strong against internal attacks."
$250 Million USDC Newly Issued
According to Whale Alert, $250 million USDC was newly issued from the USDC Treasury address.
Bitvavo Lists SIGN
Dutch cryptocurrency exchange Bitvavo announced the listing of SIGN. According to CoinMarketCap, SIGN is currently trading at $0.06751, up 4.33%.
US Stock Market Indices Close Mixed
The three major US stock market indices closed mixed.
S&P500: +0.47%
Nasdaq: +0.73%
Dow: -0.02%
Analysis: "BTC On-Chain Indicators Positive... Bullish Trend to Continue"
Cointelegraph, citing on-chain analysis platform Glassnode data, analyzed that "The upper channel of the average purchase price for BTC short-term holders (STH) is around $117,113, which has only been touched once in May. The MVRV (Market Value to Realized Value), one of BTC's key on-chain indicators, suggests that Bitcoin has not yet reached an overbought phase. Combining technical analysis and on-chain trends, Bitcoin may potentially retest the $117,000 level in the short term, and the bullish trend will continue for some time."
Analysis: "BTC Follows M2... Forecast $170,000"
Cointelegraph, quoting multiple analysts, reported that "Global M2 supply has reached an all-time high of $55.48 trillion, and Bitcoin could rise up to $170,000." The media explained that "Generally, as M2 supply increases, investment demand for risky assets also tends to increase. Historically, Bitcoin has shown a correlated movement, lagging behind US and global M2 growth by an average of 36 months, and when it broke $100,000 in April, it showed a similar direction with just a 12-week difference."
BTC Surpasses $109,000
According to Coinness market monitoring, BTC has surpassed $109,000. On the Binance USDT market, BTC is trading at $109,029.99.
