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Galaxy Research Director Alex Thorn stated that the capital management adjustments announced by Strategy on Monday mark an important turning point. In the weeks prior, the "digital credit" system of Strategy's preferred shares faced pressure, with the preferred share STRC falling below its $100 par value and hitting a historical low of $71.25 on June 26, leading the market to question how the company would pay the increasingly high preferred share dividends.Strategy subsequently announced a new digital credit capital framework, including a board-approved dollar reserve policy, a revised STRC dividend policy, a $1 billion preferred securities repurchase authorization, a $1 billion MSTR common stock repurchase authorization, and a BTC monetization plan. At the same time, the board raised the annual dividend rate of STRC from 11.5% to 12%, applicable to semi-monthly dividends for record dates on or after July 1. Following the announcement, MSTR rose 12.6% to about $92.70 on Monday, while STRC increased by 12.2% to about $83.70.Thorn believes that Strategy's approach is wise, but it may not permanently resolve structural issues. The company still has a large preferred share system and ongoing payment obligations, and it will face $6.7 billion in convertible bonds maturing in 2027 and 2028. The market is not truly concerned about Strategy's lack of assets, but rather whether it has sufficient dollar liquidity to pay dividends without harming BTC holders, MSTR common stock shareholders, or preferred shareholders. By raising over $1 billion in cash through the sale of common stock, setting a minimum cash reserve policy for 12 months, and increasing the current cash coverage ratio to about 17 months, Strategy has bought itself time.The most controversial aspect is the BTC monetization plan, which seems to clearly indicate that Strategy may sell BTC from time to time. Thorn does not want to see Strategy sell Bitcoin, as the company's identity and the MSTR premium are built on its narrative as a long-term BTC exposure tool, and selling BTC would undermine that story.However, he also believes that if selling a small amount of BTC can prevent a disorderly spiral in the capital structure, protect preferred shares, and wait for a better market environment, this path can be justified. Strategy should explore how to generate income from its BTC assets without directly selling spot BTC, including conservatively lending a small amount of isolated BTC or using options strategies to capture volatility gains.

According to SoSoValue data, the total net inflow of Ethereum spot ETFs is $29.0822 million. The Ethereum spot ETF with the highest net inflow in a single day is the Blackrock ETF ETHA, with a single-day net inflow of $29.7415 million, and the historical total net inflow of ETHA has reached $11.125 billion. The second is the VanEck ETF ETHV, with a single-day net inflow of $1.2415 million, and the historical total net inflow of ETHV has reached $165 million. The Ethereum spot ETF with the highest net outflow in a single day is the Grayscale Ethereum Trust ETF ETHE, with a single-day net outflow of $2.7472 million, and the historical total net outflow of ETHE has reached $5.332 billion. As of the time of publication, the total net asset value of Ethereum spot ETFs is $9.02 billion, and the ETF net asset ratio (the market value compared to the total market value of Ethereum) is 4.38%, with a historical cumulative net inflow of $10.889 billion.

According to RootData's financing data statistics, in June 2026, the crypto primary market disclosed a total of 42 financing and merger events, with a total financing amount of approximately $898 million, a month-on-month decrease of 60.5% and a year-on-year decrease of 67.3%. Additionally, there were 15 merger events, with a disclosed amount of approximately $305 million. Overall, funds continue to concentrate on infrastructure, DeFi, and CeFi, with institutional-level capital markets, on-chain credit, derivatives trading, and stablecoin payment/settlement becoming the main incremental directions.DeFi was the most active sector this month, completing 18 financing and merger events, with a disclosed amount of approximately $330 million. Morpho completed a $175 million financing, becoming the largest financing project in the DeFi sector this month; Fomo completed a $75 million Series B financing, indicating that on-chain trading and consumer-level entry points still have appeal.The infrastructure sector had a total of 13 events, with a disclosed amount of approximately $453 million, ranking first in terms of amount. Projects such as Digital Asset, Ornn, and Trace Finance received funding support around institutional-level capital markets, AI computing financialization, and stablecoin settlement infrastructure.CeFi completed a total of 12 events. Although there were not many non-merger financing events, mergers and institutional trading services performed outstandingly. SBI Holdings acquired the Japanese crypto exchange Bitbank for approximately $289 million, becoming the largest merger event this month; SignalPlus completed a $50 million Series B1 financing, and EDGE Markets completed a $29.2 million Series A financing, indicating that institutional-level trading, derivatives, and compliant financial services are still key areas for capital allocation.The top five projects this month totaled approximately $944 million, accounting for about 76% of the overall disclosed scale. The top three projects in terms of financing and merger amounts are: institutional-level blockchain infrastructure company [Digital Asset](https://www.rootdata.com/zh/Projects/detail/Digital Asset?k=MzYyMA== "Blockchain software and service provider") ($355 million), Japanese crypto exchange Bitbank ($289 million, merger), and on-chain credit protocol Morpho ($175 million).In terms of investment institutions, Coinbase Ventures, a16z, Pantera Capital, CoinFund, Paradigm, Animoca Brands, HashKey Capital, and others remain active, with top capital more inclined to bet on projects with clear institutional clients, compliance paths, and real use cases.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $58,168.08 in the "Côte d'Ivoire vs Norway - More Markets" event, specifically on "O/U 2.5". Based on the current transaction price, the latest corresponding winning probability for this target is 51%.

According to monitoring by Catcher Predict, in the event "Côte d'Ivoire vs Norway Match Prediction" on the prediction market Polymarket, the "Yes" option in the sub-market "Will the match go to a penalty shootout" experienced a sharp fluctuation in winning probability, soaring from 28.5% an hour ago to the current 48% (a fluctuation of 19.5%). Please note the impact of related breaking news.

According to official news, Bitdeer announced that its wholly-owned subsidiary Tydal Data Center AS has signed a hosting lease agreement for the Tydal artificial intelligence data center site in Norway.The agreement has not yet come into effect and still needs to meet several prerequisites, including the counterparty completing arrangements with some external clients and suppliers. The company expects to disclose the commercial terms and anticipated business impact within a month after the agreement officially comes into effect.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $56,397 in "France" for the event "Norway vs. France." Based on the current transaction price, the latest corresponding winning probability for this target is 63%.

On the evening of June 25, CoinUp held a Space live broadcast on platform X, with CoinUp founder Queenie attending to respond to recent hot topics, reaching a peak online audience of over 15.6K.This Space focused on issues such as the relationship between Zhu Pan and CoinUp, the current operational status of the platform, CPX price fluctuations, the platform's original intention, and future plans. Queenie publicly reiterated that Zhu Pan is not an employee of the CoinUp platform, the platform is currently operating normally, deposits and withdrawals are functioning normally, and there is absolutely no intention to run away.Queenie emphasized that CoinUp will adhere to long-termism, continuously optimizing product experience, project review, and risk control mechanisms. In the future, the platform will continue to upgrade around diversified asset products, CPX ecological applications, and global business, and will accelerate the promotion of compliance license layouts in more regions to drive CoinUp's ecological construction in a more robust and transparent manner.

According to official news, regarding recent discussions about the platform on the market and social media, CoinUp founder Queenie Li published an article on the X platform to respond to a series of concerns.Regarding platform security, Queenie Li emphasized that CoinUp will never run away. All assets on the platform are secure, and the deposit and withdrawal functions are operating normally, with the operations team on duty 24 hours a day. After a comprehensive inspection, CoinUp has not suffered any hacker attacks or data breaches.Regarding Mr. Zhu Pan, the response article once again clarified that he is not the operator or a member of CoinUp, and his identity is only that of a project party for a project launched on CoinUp.In addition, Queenie emphasized that third-party security audits, asset reserve proof disclosures will be promoted, and investigations into the backgrounds of project founders will be strengthened.According to CoinUp's official news, CoinUp founder Queenie will hold an X Space on June 25 at 20:00 (UTC+8) to publicly respond to recent rumors of "running away," the platform's operational status, user asset security, CPX fluctuations, and relationships among relevant personnel.

According to a report by The Wall Street Journal, the prediction market platform Polymarket is suspected of paying dozens of social media creators to instruct them to record fake betting and high-profit videos on a simulated website that closely resembles the official site, using this as a promotional tactic to attract new users. The report indicates that the campaign required creators to conceal the official sponsorship relationship and specifically targeted the domestic audience in the United States.The investigation shows that the related marketing videos have accumulated over 140 million views on platforms such as TikTok, YouTube, and Instagram, involving up to $1.9 million in false bets. In response, Polymarket did not directly address the specific details of the investigation but stated in a statement that, as part of promoting industry transparency, the platform is conducting a comprehensive audit of active promotional content to ensure it strictly complies with internal standards and applicable regulatory and legal disclosure requirements.

According to Onchain Lens monitoring, the attacker of the MEV bot "JaredFromSubway" transferred 2000 ETH ($3.44 million) through Tornado Cash, sold 1422 ETH to obtain 2.446 million DAI, and currently has only 5 ETH ($8,630) left.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $75,600 in "Norway vs. Senegal," specifically targeting "Norway." Based on the current transaction price, the latest corresponding winning probability for this target is 42%.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the Polymarket. A large whale invested $104,947.67 in the event "Norway vs. Senegal," specifically targeting "Norway." Based on the current transaction price, the latest corresponding winning probability for this subject is 41%.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the Polymarket market. A large whale invested $76,500.22 in "Senegal" for the "Norway vs. Senegal" event. Based on the current transaction price, the latest corresponding winning probability for this target is 31%.

According to NBC, citing a statement from Alan Greenspan's wife, former Federal Reserve Chairman Alan Greenspan passed away on June 22 at the age of 100.Greenspan was one of the longest-serving Federal Reserve Chairmen in U.S. history, having led the Federal Reserve from 1987 to 2006 for a total of 18 years, spanning the presidencies of Reagan, George H.W. Bush, Clinton, and George W. Bush. He was known for combating inflation and maintaining financial stability, and he dominated a decade-long economic expansion in the 1990s, being hailed by the market as the "Maestro" of the economy.However, Greenspan's historical evaluation is quite controversial. His long-standing advocacy for financial deregulation and maintaining low interest rate policies has been deemed by many economists as one of the key roots that led to the 2008 global financial crisis. At that time, the U.S. housing bubble burst, and the subprime mortgage crisis erupted, triggering a global financial tsunami. Greenspan himself rarely admitted during a 2008 congressional hearing that his belief in market self-regulation had "flaws," a statement that shocked Wall Street.Greenspan's passing marks the end of an era for a figure who shaped the modern global financial system.

The MiniMax M 3.0 free computing power event launched by the B.AI platform on June 18 is now in the countdown phase and will end in 3 days. It is reported that new users who log in to the platform for the first time through Binance Wallet or Bitget Wallet can receive a reward of 1 million free Credits.In addition, during the event, the platform offers a recharge cashback mechanism. Users can receive a 1:1 equivalent Credits bonus for recharging on the BNB Chain, and a 1:0.5 ratio bonus for recharging on other public chains, with a maximum cumulative bonus limit of 100 USD equivalent per user. According to the information, the MiniMax M 3.0 model previously ranked first in the Artificial Analysis open-source model leaderboard.

The second round of the World Cup group stage schedule is halfway through, with some teams having already secured or are close to securing qualification, while several teams still need to determine their fate in the third round. In today's matches, Spain defeated Saudi Arabia 4-0, Belgium drew 0-0 with Iran, Uruguay drew 2-2 with Cape Verde, and New Zealand lost 1-3 to Egypt. As the group stage enters a critical phase, situations where the pre-match high probability directions do not materialize are still frequently occurring, further amplifying the risk of unilateral positions for prediction market users.Base's native leverage prediction market OmenX officially launched the World Cup Hedge to Earn airdrop event today, currently distributing hedge positions to all Polymarket users with positions. After users connect their Polymarket wallets, OmenX will identify their eligible positions; if there are relevant events on the platform, corresponding hedge positions will be issued; if there are no matching relevant events, recommended position airdrops will be provided to help users experience hedging and position management.OmenX stated that Hedge to Earn aims to help prediction market users transition from "unilateral prediction" to "position management." For high-volatility events like the World Cup, users can obtain hedging rewards through OmenX, adding a layer of risk buffer to their existing Polymarket positions.

According to monitoring by PeckShieldAlert, the attacker of the MEV bot JaredFromSubway stole 1,474.58 WETH, 2.87 million USDC, and 2 million USDT. The attacker exchanged the stolen funds for 4,400 ETH and has deposited 1,000 ETH into TornadoCash. Previously, it was reported that the MEV bot JaredFromSubway was attacked, resulting in approximately 7.5 million dollars worth of assets being stolen.