Good Morning,

Here's a quick preview of today’s content: London based companies are deciding to take on the Bitcoin strategy, Vitalik Buterin warns Sam Altman's World of potential dangers, Robinhood getting into crypto options, police might be destroying BTC ATMs, Ledger shutters Nano S, Pumpfun has a new app, a new report states that stolen crypto might be fueling nuclear programs, and so much more

Happy Monday - Let’s dive in

Market Snapshot

• The crypto markets remained stable despite renewed tariff threats, with Bitcoin declining -0.7% to $106,700

• Crypto stocks (finally) experienced some losses, with Coinbase and Circle dropping -6% and -16% respectively

  • The stablecoin issuer’s stock is down -40% since it topped at almost $300 on Monday

• President Trump announced the termination of trade talks with Canada over its Digital Services Tax on U.S. tech firms.

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Ripple has decided to drop its cross-appeal in its nearly five-year-long legal case against the SEC - a rundown of how the years long case has appeared to finally come to an end here

• Rogue' Police are destroying Bitcoin ATMs to retrieve cash (DC)

• Operator behind sham crypto firms EmpowerCoin, ECoinPlus, and Jet-Coin sentenced to 8 years in prison (TB)

• Trump blames Biden for banks blocking crypto, calling debanking of crypto companies “very dangerous” - his full statements here

• Two-thirds of Koreans want to invest more in crypto as won-based stablecoin hype builds (TB)

• Ark Invest sells $12.5M in Coinbase shares as stock hits all-time closing high (TB)

• Vitalik Buterin warns Sam Altman's World digital IDs risk killing pseudonymity online - his full statements here

• Anchorage Digital said it's phasing out support for certain stablecoins, citing concentration and security risks (CD)

• London-listed companies are turning to bitcoin to boost their share prices (FT)

• A new FATF report claims that stolen crypto, including $1.5B from ByBit, have funded North Korea's nuclear activities (DC)

• Trump sidesteps question on crypto divesting to pass key bills (CT)

• Coinbase's shares have risen 43% in June, making it the top performer in the S&P 500 index (CD)

• Nasdaq hit a record high on Friday (CD)

• TRM Labs raised the possibility that Israel's cyber units gathered internal data from the $90M hack on crypto exchange Nobitex to catch Iranian operatives (TB)

• New York asset manager KraneShares files to list Coinbase 50 Index ETF (TB)

• Ethereum’s largest staking protocol, Lido, has voted in favor of a dual governance structure, giving stakers the power to delay or veto governance decisions (TB)

• Lnfi Network integrates RGB Protocol to enhance Lightning Network (BM)

• Ethereum-powered space survival game Eve Frontier is running a free trial period for 10 days (DC)

• Bakkt files $1B shelf registration, signals potential Bitcoin purchases (TD)

• Ledger officially ends software support for the nine-year-old Nano S wallet, citing memory constraints (BKL)

• Iran accounted for a 7.5% of the Bitcoin hashrate in March 2021 (DC)

Venture Capital

Launches

• PumpFun launches ‘SuperApp’ for mobile devices (TD)

• Robinhood has introduced micro futures on bitcoin, solana, and XRP in the US (CD)

• Gemini launches tokenized stocks for EU traders, beginning with onchain representation of MSTR on Arbitrum (TB)

Regulation

• Crypto exchange Bitvavo received a MiCA license from the Netherlands regulator (CD)

Cybersecurity

• Hackers looted $2.1B from the cryptocurrency sector in the first half of 2025, and more than 80% of that haul stemmed from infrastructure attacks (TB)

• Around 70% of the $2.1B in crypto stolen by hackers in the first six months of 2025 was traced back to North Korea (DC)

• Self-styled Russian crypto expert “Bitmama” has been sentenced to seven years in prison for a $23M Bitcoin fraud disguised as offshore investments (DC)

Extra Reads

• Do tokens need fundamentals? - Framework’s Michael Anderson explains what tokens need in order to be successful
  

• "Bitcoin takes a lot of pressure off the dollar", says Donald Trump - see the full video of his statements here

Chart of the Day

US investors are embracing risk, perhaps because stocks seem less risky after weathering all the seemingly bad news this year. If equities are less risky overall, it makes sense to buy higher-risk equities.

Meme Dump

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