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According to Bloomberg, Bitcoin fell below $60,000 last week, with a market value evaporating by about $235 billion within seven days, nearly halving from last year's peak. The market value of altcoins has shrunk from a peak of $431 billion in November 2021 to about $170 billion, with less than 1,700 of the tens of millions of tokens created in recent years still having substantial trading activity. However, in stark contrast to the price trends, the most commercially valuable businesses in the crypto industry are accelerating growth.The annual trading volume of stablecoins reached about $390 billion, with total trading volume soaring 72% to $33 trillion by 2025. Over $30 billion in assets have been tokenized, and BlackRock's tokenized money market fund BUIDL has an asset size of $2.4 billion. Visa and Mastercard are expanding stablecoin settlement capabilities, and Nasdaq is collaborating with Kraken to offer tokenized stocks.Bloomberg Intelligence's Mike McGlone stated that the most important technology is stablecoins; when you have stablecoins, you don't need XRP or Bitcoin to store value. We are experiencing a cleansing, and this has only just begun. EMJ Capital founder Eric Jackson pointed out that "the Bitcoin price chart used to be the entire crypto story, but it is no longer."

According to CoinDesk, Citrini Research, which caused panic in the AI stock market in February, has listed Hyperliquid and its HYPE token as new "attractive" investment targets. The report points out that, unlike most crypto assets (including Bitcoin), HYPE can generate real cash flow and has a buyback mechanism.The report states that over 90% of the fees generated by the platform are transferred to the buyback fund, and since its launch in January 2025, more than $2 billion worth of HYPE has been repurchased, accounting for nearly half of last year's token buyback activities in the entire crypto industry. The report believes that the investment logic of HYPE is increasingly linked to the business performance of the exchange. Although the U.S. CFTC opened the regulatory door for crypto perpetual contracts last month, exchanges like Kraken and Coinbase are competing to launch related products, Hyperliquid stands out in the crypto industry due to its revenue-generating capabilities.

Binance Futures will adjust the contract amount of SPCXUSDT U-based Pre-IPO Perp on June 10 at 16:30. This adjustment is expected to take 15 to 30 minutes, and after the adjustment is completed, there will be a 5-minute cancellation-only phase. Users holding this contract position should assess their current positions in advance to respond to potential price fluctuations.

According to Cointelegraph, South Korean police recently raided the cryptocurrency exchange Bithumb to investigate independent lawmaker Kim Byung-gi for allegedly using his influence to secure a job for his son. It is reported that Kim's son joined Bithumb in January 2025 and worked for about six months. The police are investigating whether there was any external pressure or special treatment during his hiring process.Additionally, the case also involves Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, with the investigation scope expanding from simple recruitment issues to potential power rent-seeking and interest transfer. Investigators pointed out that while serving as a member of the South Korean National Assembly's Administrative Committee, Kim Byung-gi had repeatedly questioned Dunamu during meetings, raising suspicions about whether he was trying to benefit the company where his son worked.It is understood that the police had previously questioned executives from multiple cryptocurrency companies and had conducted searches at Bithumb's headquarters and Bithumb Financial Tower to gather evidence. Kim Byung-gi himself is under investigation for 13 charges, including employment arrangements, bribery for nominations, and requests related to university transfers, and he stated that he believes he will ultimately be able to prove his innocence.It is worth noting that Bithumb has recently faced ongoing regulatory pressure. In March of this year, South Korea's financial regulatory agency imposed a fine of approximately $24.5 million on Bithumb for KYC and anti-money laundering (AML) violations and issued a six-month partial business suspension order. However, a South Korean court temporarily suspended the enforcement of the penalty at the end of April, and the relevant legal procedures are still ongoing.

Recently, the global memory chip sector has been active, with the expansion of AI computing power and the ongoing construction of data centers continuously driving market demand for high-performance storage products, attracting widespread attention from investors. According to Gate market data, Micron Technology (MU) reached a high of $933.49 in 24 hours, currently reported at $906.52, with a 24-hour increase of 3.49%; SK Hynix (SKHYNIX) reached a high of $1348.10 in 24 hours, currently reported at $1318.40, with a 24-hour increase of 8.31%. According to CoinGlass data, the trading volume of Gate MU (Micron Technology) contracts reached $11.3353 million in 24 hours, and the trading volume of Gate SKHYNIX (SK Hynix) contracts reached $3.9042 million in 24 hours, both ranking among the industry leaders, with the trading heat of related assets continuing to rise.

According to the official announcement, Bitget stock derivatives have now launched 7 popular Japanese and Korean stock symbols: KIOXIA, TOKYOEL, SUMIELEC, ADVANTEST, LASERTEC, DOOSBOT, and DOOSENER.The aforementioned contracts cover areas such as semiconductor equipment, optical applications, and energy solutions.

The Binance contract platform will launch the BXUSDT perpetual contract at 17:00 on June 8, the HPEUSDT perpetual contract at 17:05, the AMATUSDT perpetual contract at 17:10, the CRWDUSDT perpetual contract at 17:15, the CRDOUSDT perpetual contract at 17:20, the AAOIUSDT perpetual contract at 17:25, the IWMUSDT perpetual contract at 17:30, and the AXTIUSDT perpetual contract at 17:35, with a maximum leverage of 20 times.

According to analyst Darkfost's data, Bitcoin has retraced and fallen below the 4% percentile of the Power Law model, entering an extremely undervalued range, a valuation level that has historically been present only 4% of the time. Darkfost emphasizes that this is a suitable time for long-term position building, not a short-term price prediction.

According to Coinglass data, the total contract open interest for ETH has increased by 5.48% in the past 24 hours, with the current total open interest at 24.726 billion USD. Among them, Binance's open interest is 5.674 billion USD, OKX's open interest is 1.409 billion USD, Bybit's open interest is 1.733 billion USD, and Gate's open interest is 2.964 billion USD.

According to Coinglass data, the total contract open interest for ETH has increased by 5.44% in the past 24 hours, with the current total open interest at 24.385 billion USD. Among them, the open interest on Binance is 5.559 billion USD, OKX is 1.515 billion USD, Bybit is 1.684 billion USD, and Gate is 2.932 billion USD.

Michael Saylor, the founder and executive chairman of Bitcoin Treasury Company Strategy, has once again released information related to Bitcoin Tracker, with the caption: "A good time to add more dots.."According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after relevant news is released.

Michael Saylor, the founder and executive chairman of Bitcoin Treasury Company Strategy, has once again released information related to Bitcoin Tracker, with the caption: "A good time to add more dots." According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after relevant news is released.

According to Coinglass data, the total contract open interest for ETH has increased by 5% in the past 24 hours, with the current total open interest at $24.308 billion. Among them, Binance's open interest is $5.522 billion, OKX's open interest is $1.509 billion, Bybit's open interest is $1.643 billion, and Gate's open interest is $2.958 billion.

The revenue agreement PiggyBank issued a statement acknowledging a serious error in the LAB token basis trading that took place last month. PiggyBank disclosed that the team previously purchased locked LAB tokens at a low price through OTC channels for about $100,000 (accounting for approximately 2% of the portfolio) and simultaneously shorted perpetual contracts for hedging.However, during the holding period, LAB encountered severe market manipulation, liquidity depletion, and deeply negative funding rates, leading to excessively high hedging costs. The team ultimately chose to close the short position to limit downside risk. Based on current prices, the total value of the locked LAB position is $1.35 million. However, due to the lack of liquidity in this position, PiggyBank will exclude it from the net asset value calculation until the first unlock on August 14.Although the situation is still changing and there is still potential for considerable returns, this is the "fairest and most transparent" way for users to manage liquidity. Therefore, today's net asset value will show a decline of approximately 15% in the USDC treasury, about 12% in SPYx, and about 9% in JitoSOL. A detailed report will be released next week, including follow-up processing plans. On-chain investigator ZachXBT previously publicly questioned PiggyBank, accusing it of insider control over more than 95% of the supply.

According to Coinglass data, the total contract open interest for ETH has increased by 6.11% in the past 24 hours, with the current total open interest at $24.148 billion. Among them, Binance's open interest is $5.452 billion, OKX's open interest is $1.517 billion, Bybit's open interest is $1.606 billion, and Gate's open interest is $2.84 billion.

According to Coinglass data, the total contract open interest for ETH has decreased by 5.33% in the past 24 hours, with the current total open interest at $23.854 billion. Among them, Binance's open interest is $5.405 billion, OKX's open interest is $1.494 billion, Bybit's open interest is $1.568 billion, and Gate's open interest is $2.847 billion.

Arkham posted on the X platform that Huang Licheng has accumulated losses of 80 million dollars in trading crypto perpetual contracts on Hyperliquid over the past year. After this liquidation, it is the first time he has not immediately replenished funds to his account after being liquidated.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.44% in the past 24 hours, with the current total open interest at 44.559 billion USD. Among them, the open interest for Binance is 8.264 billion USD, for OKX is 2.617 billion USD, for Bybit is 4.057 billion USD, and for Gate is 3.188 billion USD.

According to Coinglass data, the total contract open interest for ETH has decreased by 9.08% in the past 24 hours, with the current total open interest at $23.55 billion. Among them, the open interest on Binance is $5.401 billion, on OKX is $1.436 billion, on Bybit is $1.541 billion, and on Gate is $2.791 billion.

According to Coinglass data, the total contract open interest for ETH has decreased by 11.92% in the past 24 hours, with the current total open interest at $23.444 billion. Among them, Binance's open interest is $5.324 billion, OKX's open interest is $1.458 billion, Bybit's open interest is $1.585 billion, and Gate's open interest is $2.797 billion.