Daily digests
Crypto News Digest: June 24, 2026
The stories that moved crypto on June 24, 2026.
40 stories
All crypto news
CZ, Binance founder, wants to clear up 'misunderstandings' about who he is
Changpeng Zhao, Binance's founder, is actively working to dispel misconceptions about his identity, aiming to present a more accurate portrayal of himself to the public. He seeks to clarify his personal and professional background, addressing perceived misunderstandings and rebranding himself in a bid to regain trust and credibility within the crypto community.
CoinDesk 20 performance update: Aave (AAVE) gains 5.9% as index moves higher
Aave (AAVE) leads the CoinDesk 20, gaining 5.9% as the index moves higher. Internet Computer (ICP) joins Aave as a top performer, up 2% from Tuesday. The CoinDesk 20, a benchmark of leading cryptocurrencies, sees a surge in value, with Aave's significant gain driving the index upward, indicating a positive trend in the market.
Bitcoin could fall to $55,000 before finding a bottom, 10x Research says
Bitcoin is forecasted to potentially drop to $55,000 before stabilizing, according to 10x Research. A strengthening U.S. dollar and the Federal Reserve's hawkish shift under new chair Kevin Warsh may sustain crypto market pressure through the summer. This scenario could lead to further volatility, impacting investor sentiment and potentially exacerbating the current crypto market downturn.
Gold, silver and bitcoin tumble as 'debasement' trade unwinds
Precious metals, including gold and silver, are plummeting from their 2025 highs as investors price in anticipated Federal Reserve rate hikes. The price of gold has dropped by 12% and silver by 15% in the past month, while bitcoin has also tumbled by 8% in response to the unwinding of the "debasement" trade, which saw investors flocking to safe-haven assets.
Bitcoin ETP outflows push rolling one-year flows negative for first time since 2023: K33
Bitcoin ETP holdings are experiencing a significant drawdown, down 8% from their peak, marking the largest decline on record, according to Vetle Lunde, Head of Research at K33. This 8% drop indicates a substantial shift in investor sentiment, as ETP holdings have reached a one-year low, a first since 2023, impacting the overall cryptocurrency market.
DeFi TVL drops 39% in 2026 amid market downturn and record hack activity
DeFi TVL is plummeting 39% in 2026 as a broader market downturn and record hack activity, including the massive Kelp DAO exploit, severely impact the sector. The Kelp DAO hack, one of the largest in DeFi history, has drained millions from investors, exacerbating the decline in DeFi TVL and raising concerns about security. Market confidence is waning.
How memecoin marketing moved from online speculation to real-world risk
Memecoin marketing campaigns are increasingly blurring the lines between online speculation and real-world risk, as influencers and promoters engage in activities such as alcohol dares and head-shaving challenges to promote their tokens, raising concerns about exploitation and the potential for harm to participants, with some campaigns now facing regulatory scrutiny and reputational damage.
Strategy Shares Crash Below $100 as Bitcoin Sinks Towards $60K
Bitcoin sinks towards $60,000 as the cryptocurrency market experiences a significant downturn, with Strategy shares plummeting below $100 for the first time since March 2024, marking a 20% decline in just two weeks. This sharp drop in Strategy shares and Bitcoin's price has investors on high alert, sparking concerns of a broader market correction.
Standard Chartered sees ‘generational wealth’ in potential Aave recovery, predicts 50x upside by 2030
Standard Chartered predicts a 50x upside for Aave by 2030, forecasting a price of $3,500. This estimate is based on DeFi asset growth forecasts and the post-KelpDAO recovery. The bank sees significant potential in Aave, likening it to a 'generational wealth' opportunity. Market participants are taking note of this bullish prediction, fueling speculation about the future of DeFi assets.
Kalshi Sues Illinois Over New State Tax on Sports-Related Prediction Markets
Kalshi is suing Illinois over a new state tax on sports-related prediction markets, set to take effect next week, which would claim 15% of gross receipts from sports-related wagers. This move threatens Kalshi's business model, as the platform relies heavily on low-friction, low-margin operations. Market implications are uncertain, but could impact the growth of prediction markets in the region.
Bitcoin miners face deepening margin squeeze as revenue falls below production costs
Bitcoin miners are facing a deepening margin squeeze as revenue falls below production costs, with an estimated 20% now unprofitable at current prices, causing stress on the network. This squeeze is exacerbated by high energy costs and equipment expenses, further eroding profitability and potentially leading to increased selling pressure on the cryptocurrency market.
HYPE down 22% from record highs: Will spot demand revive the uptrend?
HYPE price drops 22% from record highs, nearing a key support zone where fading selling pressure collides with shrinking futures market activity. This convergence may stabilize HYPE, potentially reviving the uptrend above $60. Market sentiment remains cautious, but a rebound in spot demand could revive investor interest in the altcoin.
Aave Token Could Climb 50x by End of 2030, Standard Chartered Says—Here's Why
Standard Chartered is predicting a 50x surge in Aave token value by the end of 2030, potentially reaching $3,500. This forecast comes alongside ambitious targets for Bitcoin ($500K) and Ethereum ($40K). The bank's analysts are betting on the growing adoption of decentralized finance (DeFi) and the increasing use of Aave's lending protocols, suggesting a significant market opportunity for the token.
Kalshi sues Illinois, Pritzker over state bill implementing prediction markets regulatory regime
Kalshi is suing the state of Illinois and Governor Pritzker over a new law establishing a regulatory regime for prediction markets, with 500+ businesses potentially impacted. The law requires prediction markets to obtain licenses and pay fees, sparking concerns about over-regulation and stifling innovation in the industry, affecting the future of prediction markets.
The banking lobby is wrong about stablecoins and community banks
Congress is urged not to restrict stablecoins, a rapidly evolving payment infrastructure, by community bank lobbyists who claim they pose a threat, despite a lack of evidence. Eco CEO Ryne Saxe argues that stablecoins offer a clear advantage, and limiting them would hinder innovation, potentially stifling financial progress and modernization efforts in the industry.
Bitcoin just broke below the floor of its famous Rainbow Chart into the ‘BTC is dead’ zone
Bitcoin has broken below the floor of its famous Rainbow Chart, entering the 'BTC is dead' zone, a 50% drop from recent highs that historically signals a dead end. Analysts are debating the implications of this move, weighing the potential for a rebound against the possibility of further decline, as the crypto market remains volatile and uncertain.
Kalshi targets a massive $40 billion valuation, widening lead over rival Polymarket
Kalshi is targeting a massive $40 billion valuation, widening its lead over rival Polymarket, as the prediction market operator considers a potential public debut in 2027. Kalshi could close a new funding round in Q3, according to a Financial Times report, which would further fuel its growth and cement its position in the rapidly expanding prediction market space.
Upheaval at the Ethereum Foundation has some of crypto’s biggest names feeling bullish
Ethereum's eventful week unfolds with the launch of EthLabs, a decentralized development platform, and layoffs at the Ethereum Foundation, reportedly affecting 20% of staff. Industry insiders, including Binance CEO Changpeng Zhao and Polygon co-founder Sandeep Nailwal, express optimism about the changes, citing potential for increased innovation and decentralization, which could boost Ethereum's adoption and price.
Your Hermes Agent Now Has a Pet. It Does Nothing—And That’s the Point
Nous Research has integrated animated mascot sprites into the self-improving AI agent, Hermes, allowing users to personalize their experience. The sprites, which do nothing but look cute, are a deliberate design choice to make the AI more approachable and user-friendly. This move humanizes the AI, potentially increasing user adoption and engagement in the burgeoning AI industry.
'Painful' Bitcoin Sell-Off Drags Ethereum, XRP and Dogecoin Lower as Crypto Stocks Dive
Bitcoin plummets to its lowest point in 21 months, dragging Ethereum, XRP, and Dogecoin lower as their prices decline significantly. The sell-off is pressuring crypto stocks on Wall Street, with investors reassessing their portfolios. The decline in altcoins is a clear indication of the market's volatility, and prices may continue to fluctuate in response to changing investor sentiment.
Bitcoin nearly loses $59K as DXY surges: Are traders bracing for more pain?
Bitcoin is plummeting toward new 2026 lows, trading near $59,000 as the US Dollar Index surges, weighing on market sentiment. Spot BTC ETF outflows and slowing accumulation from strategic investors are contributing to the decline. Traders are bracing for more pain as Bitcoin's price continues to drop, potentially exacerbating the market's current downturn.
The Next GameStop? Meme Stock Traders Make Biggie-Size Bet on Wendy's
Retail traders are placing big bets on Wendy's shares, potentially positioning the fast-food chain as the next GameStop. The stock's price has surged by 10% in the past week, driven by a surge in trading volume.
FTX exec’s wife scheduled for November trial on campaign finance charges
Michelle Bond, FTX executive's wife, is scheduled for a November trial on campaign finance charges, following a Manhattan judge's denial of her motion to dismiss the indictment. The judge rejected claims that prosecutors misled her husband, Caroline Ellison's, about her charges. This development is significant in the ongoing FTX scandal, potentially impacting the company's reputation and investors' trust.
Crypto Long & Short: Infrastructure is the prevailing currency in digital assets
Caue Teixeira argues that infrastructure is the prevailing currency in digital assets, regardless of which coin wins. Alen Pavlović from Liquibit Capital analyzes CoinDesk's liquidation feed, revealing June's forced selling peaked near $68,000 before bitcoin's actual bottom. This highlights the importance of infrastructure in the digital asset market, where it plays a crucial role in determining market stability and resilience.
Bitcoin falls below $60,000 as AI trade continues to draw investor interest and capital
Bitcoin currently trades below $60,000, with investors shifting focus to AI-driven trading strategies despite the dip. Meanwhile, a South Korean memory chip giant is filing to raise nearly $30 billion in a U.S. offering, a massive move that could potentially draw capital away from the cryptocurrency market, further pressuring Bitcoin's price and overall market sentiment.
South Korean Officials Meet With US SEC, Weigh Unified Crypto Rules Amid Local Scandals
South Korean officials are meeting with the US SEC's task force to discuss unified crypto rules, weighing potential solutions to address local scandals and regulatory challenges. The delegation, comprised of key stakeholders, aims to establish a unified framework, with no specific timeline disclosed. This move could impact global crypto regulations and investor confidence.
Superstate co-founder raises $3.6 million pre-seed for Ground to help fintechs access onchain yield
Ground, a fintech infrastructure platform co-founded by Superstate co-founder, has raised $3.6 million in a pre-seed funding round led by Bain Capital Crypto and ParaFi, emerging from stealth mode. This investment will help Ground provide onchain yield access to fintechs, potentially disrupting traditional banking and financial services, expanding the cryptocurrency's adoption in the financial sector.
'Stop Buying Bitcoin': Strategy Needs More Cash Fast, Analyst Says as STRC Hits New Low
STRC, a cryptocurrency-focused trust, has hit a new low, while MSTR, a related company, continues to decline. CryptoQuant analysts advise Strategy to halt Bitcoin purchases and prioritize cash accumulation, suggesting a shift in investment strategy amidst market volatility. This move may signal a cautious approach to crypto investments, potentially impacting overall market sentiment.
Pump.fun offers up to $5 million salary for chief legal officer role
Pump.fun is offering a lucrative chief legal officer role with a salary range of $1 million to $5 million, covering complex regulatory landscapes including SEC oversight, MiCA rules, and U.K. regulations, indicating a high demand for specialized expertise in the crypto space. This move reflects the industry's growing need for experienced legal professionals.
Researcher Throws Cold Water on Microsoft Quantum Claims
A physicist's formal critique is questioning Microsoft's claims on its Majorana 2 quantum chip, arguing the company has not demonstrated the topological qubit as promised. This challenge raises concerns about Microsoft's quantum computing advancements. The critique may impact investor confidence in Microsoft's quantum computing initiatives, potentially affecting the company's stock price and its position in the emerging quantum industry.
Leaked Code Suggests Anthropic Is Preparing to Bring Fable 5 Back
Leaked code suggests that Anthropic is preparing to integrate Fable 5 into its Claude subscription plans, potentially offering weekly access instead of a separate purchase option. The new strings hint at a seamless integration, possibly as a value-added service for subscribers. This move could revamp the gaming experience and attract more users to Claude's AI-powered platform.
Who gets a direct line to the Fed? Congress weighs risks of Fed ‘skinny accounts’ for crypto and fintech firms
Congress weighs risks of Fed 'skinny accounts' for crypto and fintech firms, debating how much access those companies should have. The Fed is considering granting firms access to "skinny" accounts, which would provide a direct line to the central bank.
Kalshi sues Illinois officials over prediction markets restrictions
Kalshi is suing Illinois officials over prediction markets restrictions, claiming it would be "irreparably harmed" when a new law goes into effect on July 1. The law, signed as part of a budget package, aims to curb online gambling and betting, potentially disrupting Kalshi's operations and impacting its user base, affecting the broader prediction markets industry.
Binance co-CEO remains ‘committed’ to securing EU license after exchange withdraws Greece bid
Binance co-CEO remains committed to securing an EU license after the exchange withdraws its bid for a Greek license, leaving only one week to meet the deadline for a valid EU license. Binance must now focus on meeting the requirements of other EU countries to operate legally. The EU license is crucial for Binance's global operations and reputation.
Bitcoin crash to $60K opens new $530M demand zone: Will bulls buy in?
A $525 million Bitcoin buy wall intersects with a major liquidation zone at $60,500, creating a pivotal battleground between $60,500 and $65,000. This significant demand zone could attract bulls, potentially reversing the recent decline. If bulls successfully defend this level, it may signal a buying opportunity, with implications for the broader cryptocurrency market and potential price recovery.
Prediction market polls find US voters prefer federal rules over state patchwork
The CFTC is currently in a heated debate with states over who should regulate event contracts, with 60% of US voters polled preferring federal rules over a state-by-state patchwork. The CFTC's push for federal oversight has sparked concerns among state regulators, who fear losing control over their jurisdictions. This regulatory tug-of-war has significant implications for the growing prediction market industry.
Bitcoin Hasn't Broken the 4-Year Cycle Yet, Says 21Shares as BTC Dives Below $60K
Bitcoin currently trades below $60,000, contradicting 21Shares' prediction that it would break the four-year cycle. According to historical patterns, Bitcoin typically sees a significant price drop every four years, with the last cycle resulting in a 90% decline. The current price drop may signal a similar downturn, potentially impacting investor confidence and market sentiment.
a16z CSX-backed Cambrian raises $6 million seed to build blockchain data oracle network
Cambrian, a blockchain data infrastructure startup backed by CSX and a16z, is raising $6 million in a seed funding round to build a blockchain data oracle network. The funding will support the development of a decentralized data infrastructure for institutions and AI agents, enabling secure and efficient data exchange. This move highlights growing demand for blockchain-based data solutions.
Bitcoin falls under $60K, but traders anticipate 15% bounce
Bitcoin's price drops below $60,000 for the first time in weeks, sparking concerns among investors. However, data indicates traders are anticipating a 15% relief bounce, with some positioning themselves for a potential rebound. Market sentiment remains cautious, but this optimism could signal a short-term recovery in the cryptocurrency's price, which is crucial for maintaining investor confidence during a volatile market.
Binance withdraws Greek MiCA bid but vows to remain in Europe
Binance withdraws its bid for the Greek MiCA license, a crucial step in establishing a European Union base, as the July 1 deadline looms. Without a valid license, regulators will force the company to shut down operations, impacting millions of regional users. This move leaves Binance scrambling to find an alternative EU home base.