02 Jul 2025 | 01:50:11 PM IST
Cryptocurrency News & Live Updates
Synopsis
Jupiter co-founder Siong highlighted the inadequacy of traditional Automated Market Maker (AMM) models for stock tokens, advocating for a redesigned AMM to enhance liquidity.
In recent developments, Jupiter co-founder Siong has called for a new Automated Market Maker (AMM) design tailored for stock tokens, citing the limitations of existing models in providing adequate liquidity. Meanwhile, Connecticut has enacted a law prohibiting the state from creating a Bitcoin reserve, reflecting a strong bipartisan stance against state involvement in cryptocurrencies. This law, effective from October 2025, positions Connecticut among the most restrictive states regarding digital assets. In the crypto market, the U.S. Bitcoin ETFs experienced their first net outflows in 15 days, coinciding with a broader market downturn, as investors reacted cautiously to legislative developments. Conversely, Ethereum ETFs saw continued inflows, indicating a shift in investor sentiment. Additionally, Echo Protocol (ECHO) has been listed on Binance, with an Alpha Airdrop available for a limited time, showcasing ongoing interest in new projects. Lastly, Cookie DAO is innovating at the intersection of AI and DeFi, launching tools that enhance data aggregation and sentiment analysis, further diversifying the crypto landscape. These developments highlight the dynamic nature of the cryptocurrency market as it navigates regulatory challenges and evolving technologies.
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Jupiter Co-Founder Calls for New AMM for Stock Tokens
Jupiter co-founder Siong highlighted the inadequacy of traditional Automated Market Maker (AMM) models for stock tokens, advocating for a redesigned AMM to enhance liquidity.
Connecticut Enacts Law Against Bitcoin Reserves
Connecticut has passed a law prohibiting the state from accepting or investing in virtual currencies, effectively banning the establishment of a cryptocurrency reserve.
Echo Protocol (ECHO) Listed on Binance with Airdrop
Echo Protocol (ECHO) is now available for trading on Binance, with eligible users able to claim 625 ECHO tokens through a limited Alpha Airdrop for 24 hours.
US Bitcoin ETFs Experience First Outflows in Weeks
U.S. spot Bitcoin ETFs faced net outflows of $342.25 million on July 1, ending a 15-day inflow streak as investors adopted a cautious stance amid bearish market conditions.
Exploring Cookie DAO’s AI and DeFi Innovations
Cookie DAO merges AI with DeFi through a modular data layer utilizing the $COOKIE token, recently launching Cookie Snaps and DataSwarm, which spurred a 420% price increase.
BNB Drops Below 650 USDT Mark
BNB has dipped to 650 USDT, reflecting a 0.94% decrease over the past 24 hours, according to Binance Market Data.
Bitcoin (BTC) Hits 106,000 USDT with Minor Dip
Bitcoin (BTC) has crossed the 106,000 USDT mark, currently trading at 106,064.24 USDT, reflecting a 0.97% decrease over the past 24 hours.
AI Industry Shifts to Local Models and Edge Computing
The AI sector is transitioning from centralized large models to localized small models and edge computing, enhancing privacy and practicality. This shift opens new opportunities for web3 AI, as blockchain technology can address challenges in output integrity and model collaboration.
Dogecoin Gains After Bullish Pattern Emerges
Dogecoin has rebounded over 2%, surpassing 16 cents, following the formation of a bullish double bottom pattern, which signals a potential trend reversal.
Tokenized Real-World Assets Achieve Record TVL Growth
Data from DefiLlama reveals that the total value locked (TVL) in tokenized real-world assets has reached $12.818 billion, reflecting a 3.2% monthly increase, with significant contributions from BlackRock, Ethena, and Ondo Finance.
Major Cryptocurrency Transfer Detected by Lookonchain
Lookonchain reports a significant transaction where wallet 0x859e moved 35 million H tokens, worth around $2.7 million, to a trading platform 12 hours ago.
Bitcoin Gains Institutional Interest as Volatility Drops
Matrixport’s analysis reveals that Bitcoin is increasingly viewed by Wall Street as a ‘non-correlated asset’ for hedging against traditional market volatility, despite its high correlation with U.S. stocks.
Bitcoin (BTC) Hits 107,000 USDT with Minor Gain
As of July 2, 2025, Bitcoin has reached a trading price of 107,000 USDT, reflecting a slight increase of 0.12% over the past 24 hours.
Bitcoin Futures Premium Declines, Signals Institutional Retreat
The CME bitcoin futures premium has fallen to 4.3%, the lowest since October 2023, indicating a decrease in institutional interest and bearish market sentiment.
SEC Proposes New Rules for Crypto ETF Listings
The SEC has introduced new guidelines for crypto ETF registration, focusing on asset storage, transparency, and potential conflicts of interest.
U.S. M2 Money Supply Hits All-Time High
The U.S. M2 money supply has surged to a record $21.94 trillion, marking a pivotal moment in the nation’s economic framework.
Binance Retains Over 400 Employees in Singapore
Despite a crackdown on unlicensed crypto firms, Binance will keep its more than 400 Singapore-based employees following the Monetary Authority of Singapore’s deadline.
US Sanctions Crypto Wallets Linked to Aeza Group
The US Treasury has sanctioned a crypto wallet associated with Russia’s Aeza Group, which is accused of facilitating ransomware and darknet activities.
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Senate Approves Budget Bill Amid Bipartisan Backlash
The U.S. Senate has passed the controversial budget reconciliation bill, with Vice President JD Vance casting the tie-breaking vote. The bill faces criticism over healthcare cuts and tax impacts, while Senator Cynthia Lummis proposed amendments for crypto miners that were ultimately excluded.
Bitcoin Investors Remain Steadfast Despite Volatility
Bitcoin investors are showing remarkable patience, with fewer selling as prices rise to $107,000, according to recent data from Glassnode, which indicates a significant number are holding unrealized profits.
Arizona Governor Rejects Bitcoin Reserve Bill
Arizona Governor Katie Hobbs has vetoed House Bill 2324, which aimed to create a Bitcoin Reserve from seized assets, citing concerns over local law enforcement cooperation.
U.S. Stock Market Faces Swift Withdrawals Amid Doubts
Bank of America clients are withdrawing from the U.S. stock market at the fastest rate in ten weeks, reflecting growing caution as the S&P 500 Index nears its highest overbought level since July 2024.
BitFuFu Reports Strong Mid-2025 Hashrate Growth
BitFuFu’s mid-2025 performance indicates a hashrate peak of 34.1 EH/s and Bitcoin holdings of 1,709 coins, qualifying it for inclusion in Bitwise’s Bitcoin Standard Corporations ETF.
Bit Digital Secures $162.9M for ETH Acquisition
Bit Digital has raised $162.9 million to enhance its corporate treasury with ETH, reflecting growing institutional interest in Ethereum.
Ethena’s ENA Token Faces Key Unlock Pressure
Ethena’s ENA token is currently trading at $0.2546, down 4% in 24 hours, as a significant token unlock of 40.63 million ENA is set to occur today.
Grayscale’s Fund Converts to Spot ETF
The SEC has approved Grayscale’s conversion of its Digital Large Cap Fund into a spot ETF, allowing it to trade on NYSE Arca and track the CoinDesk 5 Index.
Hong Kong Enhances Financial Connectivity and Stability
Hong Kong Chief Executive John Lee announced a stablecoin licensing system and improved listing procedures, boosting the region’s financial competitiveness and securing its position as the third-largest global financial center.
DOJ Seizes $225M in Crypto from Scam Victims
The DOJ has seized $225 million in cryptocurrency linked to pig butchering scams, highlighting the stolen funds’ impact on victims and communities.
NY Attorney General Advocates for Enhanced Crypto Regulations
New York Attorney General Letitia James urges Congress to strengthen cryptocurrency legislation, criticizing existing bills for lacking investor protections and adequate safeguards against anonymous transactions.
France Plans AI Integration for Businesses by 2030
The French government has launched an initiative to integrate AI into all businesses by 2030, targeting 100% of large firms, 80% of SMEs, and 50% of micro-enterprises.
Bitcoin Supply on Exchanges Reaches Lowest Point
Foresight News reports that Bitcoin supply on exchanges has fallen to 14.5%, the lowest level in almost seven years.
BNB Hits 650 USDT with 0.94% Drop
As of July 2, 2025, BNB has reached the 650 USDT mark, experiencing a slight decrease of 0.94% over the past 24 hours.
China Launches Initiative Against Online Business Misconduct
China’s Cyberspace Administration has begun a campaign to combat online misconduct impacting businesses, targeting accounts that spread false information and violate business rights.
Jump Crypto Receives Major Transfer from Inactive Wallet
On-chain analyst Ai Yi reports that Jump Crypto’s address has received 33.1 million W tokens, worth $2.34 million, from a previously inactive wallet, potentially signaling investor interest.
Bitcoin (BTC) Hits 106,000 USDT with Minor Dip
As of July 2, 2025, Bitcoin has surpassed the 106,000 USDT mark, currently trading at 106,064.24 USDT, reflecting a slight 0.97% decrease over the past 24 hours.
1RT Acquisition Corp. Seeks $150 Million IPO
1RT Acquisition Corp. has submitted an S-1 amendment to the SEC, aiming to raise $150 million through an IPO on Nasdaq under the ticker ‘ONCHU,’ focusing on the cryptocurrency and fintech sectors.
AAVE Tokens Withdrawn After Long Inactivity
An address has withdrawn 8,033 AAVE tokens from a centralized exchange after being dormant for about seven months, valued at approximately $2.09 million.
Collector Redeems $10 Million from Casascius Bitcoin Bar
A collector, known as John Galt, has redeemed over $10 million in Bitcoin from a gold Casascius Bitcoin bar bought for $500 in 2012, highlighting the enduring value of these iconic collectibles.
Cryptocurrency Market Experiences Varied Gains and Losses
On July 2, various cryptocurrencies showed notable price fluctuations, with LPT leading gains at $6.037, up 1.56%, while UNI faced the largest decline at $6.566, down 5.39%.
Arizona Governor Vetoes Digital Asset Fund Legislation
Arizona Governor Katie Hobbs has vetoed HB2324, a bill aimed at creating a digital asset reserve fund, citing concerns over asset transfer from local jurisdictions and its impact on law enforcement cooperation.
Figma Reveals Bitcoin ETF Investments and Plans
Figma has disclosed nearly $70 million in Bitcoin ETF holdings and plans to acquire an additional $30 million in Bitcoin.
Bitcoin Steady as Market Awaits Breakout
Bitcoin remains stable near its all-time high of $111K, with long-term holders showing resilience and minimal selling activity despite recent geopolitical tensions.
FATF Raises Alarm on Stablecoin Crimes, Urges Regulation
The FATF has cautioned about the rise in stablecoin-related crimes, prompting calls for enhanced regulation and monitoring from blockchain firms, who argue for unified licensing rather than a ban on stablecoins.
Malaysia Proposes New Rules for Crypto Exchanges
The Securities Commission Malaysia seeks public feedback on a framework allowing cryptocurrency exchanges to list certain digital assets without prior regulatory approval, aiming to enhance accountability and expand offerings for investors.
Monochrome Bitcoin ETF Increases Holdings in Australia
The Australian Monochrome spot Bitcoin ETF has raised its Bitcoin holdings to 931 BTC, valued at around 153.4 million AUD, adding 194 Bitcoins between June 12 and June 28.
IREN Achieves 50 EH/s Mining Capacity, Plans AI Growth
IREN Limited has successfully reached its mid-year goal of 50 EH/s in self-mining capacity, driven by its Texas facility, and is now focusing on a new AI data center set to launch in Q4.
Strategy’s Preferred Stocks Anticipate S&P 500 Inclusion
Strategy’s perpetual preferred shares surged 15% as analysts predict S&P 500 inclusion following a record-high bitcoin close, boosting earnings and investor interest.
Eskom Considers Bitcoin Mining to Solve Financial Issues
Eskom, South Africa’s power utility, is exploring Bitcoin mining and AI to generate new revenue as electricity sales decline amid rising renewable energy adoption.
Senate Approves Bill, Excludes Crypto Tax Changes
The U.S. Senate passed President Trump’s ‘Beautiful Act’ but omitted crucial tax amendments for cryptocurrency users, disappointing advocates who sought benefits for miners and businesses.
SOL Experiences Market Volatility Post-ETF Launch
SOL briefly surged 5% to $160 after its ETF launch but quickly lost momentum, trading near a critical support zone. A drop below $144 could lead to further declines, while a recovery above $160 is needed for bullish sentiment.
Pantera Capital Unveils New Digital Asset Fund
Pantera Capital has launched the Digital Asset Reserve Fund, allowing investors to engage in digital asset reserves from their inception, with applications closing on July 7.
U.S. Shuts Down 64-Year-Old Development Agency
The Trump administration has announced the closure of the United States Agency for International Development (USAID), effective immediately, transferring some projects to the State Department after decades of foreign aid efforts yielding limited results.
ECB Advances Work on DLT Settlement Solutions
The ECB has approved initiatives to utilize central bank money for settling DLT transactions, aiming to enhance payment system efficiency.
Travel the French Riviera with Crypto
Binance partners with Lyzi to enable travelers to use stablecoins and cryptocurrencies across the French Riviera, allowing seamless payments at over 80 merchants in cities like Cannes and Monaco.
Prometheum Capital Gains Approval for On-Chain Clearing Services
Prometheum Capital has received approval to provide clearing services for broker-dealers conducting on-chain securities transactions, expanding its role in the blockchain securities market.
Kaito Pro to Add Leading Crypto Stocks to Heatmap
Kaito Al plans to integrate top crypto stocks into the MindShare heatmap on Kaito Pro, aiming to provide users with enhanced insights into the cryptocurrency market.
Ether Faces Challenges Near $2,400 Despite Institutional Interest
Ether’s price dropped 3.3% to $2,418.39, breaking key support levels, even as firms like BitMine and SharpLink increase their ETH holdings amid market volatility.
Bitcoin Set to Hit New Heights This July
Fundstrat Global Advisors suggests that Bitcoin (BTC) could mirror the S&P 500’s past performance and reach a new all-time high in July, potentially exceeding $74,000.
UK Charges Dual National for Crypto Funding Militias
A dual citizen of Russia and Britain has been charged with sending cryptocurrency to pro-Russian militias in Ukraine, violating UK sanctions.
Four North Korean Hackers Charged in Crypto Theft
The U.S. DOJ has charged four North Korean nationals for stealing nearly $1 million in cryptocurrency from blockchain firms by posing as IT workers.
TD Cowen Keeps Buy Rating on Strategy Amid Bitcoin Growth
TD Cowen has reaffirmed its buy rating for Strategy, citing a robust equity-Bitcoin cycle and a significant increase in Bitcoin holdings to 597,325, resulting in a 63% premium over net asset value.
Circle Launches Unified USDC Gateway for Developers
Circle has unveiled Circle Gateway, a developer service that provides a unified USDC balance and instant cross-chain liquidity, set to launch on test networks like Base and Ethereum later this month.
Cango Sees Drop in Bitcoin Mining for June
Cango, a NYSE-listed firm, reported a Bitcoin production of 450 BTC in June 2025, down from 484.5 BTC in May. However, its total Bitcoin reserves have increased to 3,879.2 BTC.
Crypto Hacks and Scams Cost Investors $2.5B in 2025
In the first half of 2025, over $2.47 billion in cryptocurrency was stolen, surpassing the total losses of 2024, primarily due to the Bybit breach and Cetus Protocol exploit.
Nillion Unveils Phase 0 Upgrade for Privacy Computing
Nillion has launched Phase 0, the first upgrade of its mainnet, allowing developers to run AI models within Trusted Execution Environments and manage encrypted data across decentralized nodes without exposing plaintext information.
U.S. Dollar Index Sees Major Drop Amid Economic Strain
The U.S. dollar index has plummeted over 10% in the first half of the year, its worst performance since 1991, influenced by trade policies and anticipated interest rate cuts. Analysts predict Bitcoin may temporarily dip below $100,000 but could rebound if it holds its consolidation range.
Bitcoin Holding Firms Face Potential Risks Ahead
A recent report warns that while nearly 200 companies hold significant Bitcoin assets, only a few can navigate the risks of a potential death spiral, particularly in a prolonged bear market.
Ethereum Falls Below 2,400 USDT Amid Market Shift
As of July 1, 2025, Ethereum’s price has dipped below 2,400 USDT, currently trading at 2,399.93 USDT, reflecting a 4.37% decline in the last 24 hours.
KiloEx and DeBox Unveil New On-Chain Trading Service
KiloEx has teamed up with DeBox to launch a one-click on-chain contract trading service, allowing users to trade directly within the DeBox community using smart contracts for enhanced transparency.
Citigroup Upgrades Circle with Buy Rating
Citigroup has assigned a buy rating to Circle, setting a target price of $243, which indicates a potential 34% increase from its recent closing price of over $181.
Bitcoin Faces Range Trading as Q3 Commences
Bitcoin’s price stabilizes around $107,000, indicating a consolidation phase as analysts predict range-bound trading for Q3 2025 following a recovery from April’s lows of $84,000.
Top Altcoins to Consider if Bitcoin Surges
If Bitcoin breaks its all-time high of $111,900, altcoins like Sei and Binance Coin are poised for significant gains, driven by strong fundamentals and market activity.
Tim Draper Foresees Bitcoin’s Future Growth
Tim Draper, founder of Draper VC, believes Bitcoin could replace the U.S. dollar in the next decade, driven by optimism in trade agreements and regulatory developments.
Solana Falls Below $146 Ahead of ETF Launch
SOL has dropped 7.84% to $145.08, just before the launch of the REX-Osprey SOL + Staking ETF on July 2, which will provide U.S. investors with staking yield opportunities.
Spiko Integrates Chainlink’s CCIP for $380M Funds
Spiko, a European fintech, is integrating Chainlink’s CCIP to provide multichain access to over $380 million in regulated on-chain money market funds.
DDC Enterprise Secures $528 Million for Bitcoin Expansion
DDC Enterprise Limited has successfully raised $528 million in funding, primarily to enhance its Bitcoin holdings, with Anson Funds leading the investment round.
Stacks Launches sBTC and STX on New Blockchains
Stacks is set to expand its Bitcoin-pegged currency, sBTC, and native token, STX, to various blockchains, starting with Solana and Sui, utilizing Wormhole’s Native Token Transfer standard.
Ethereum Dips Below $2400 Amid Market Decline
Ethereum (ETH) has fallen below the $2400 threshold, currently trading at $2399.10, marking a 1.01% decline in the past day.
Dunamu Partners with Naver Pay for Stablecoin Project
Dunamu, the parent company of Upbit, is collaborating with Naver Pay to develop a stablecoin payment system in Korean won, pending regulatory clarity.
Ethereum (ETH) Falls Below 2,400 USDT
As of July 1, 2025, Ethereum is trading at 2,399.93 USDT, reflecting a 4.37% decline over the past 24 hours.
Robinhood Stock Volatility Following New Product Launch
Robinhood’s stock saw a notable pre-market fluctuation, initially climbing over 4% before settling at a 0.93% gain, following the announcement of a new tokenized stock product on the Arbitrum platform.
BNB Falls Below 650 USDT Amid Market Fluctuations
As of July 1, 2025, BNB has dipped below 650 USDT, currently trading at 649.85 USDT, reflecting a slight decrease of 0.64% over the past 24 hours.
Trump Considers Postponing Key Legislation Deadline
President Trump has indicated a possible delay in the deadline for the ‘Beautiful Bill,’ acknowledging challenges in passing the legislation by July 4 while assuring that spending cuts will remain moderate.
Bitcoin Cash Rallies 5%, Forms Bullish Crossover with BTC
Bitcoin Cash (BCH) has surged over 5% in 24 hours, reaching $528, driven by a bullish golden crossover with Bitcoin, despite weak on-chain fundamentals.
Botanix Mainnet Launches, Reduces Bitcoin Block Times
The Botanix mainnet is now operational, significantly decreasing Bitcoin block times from 10 minutes to just 5 seconds, enhancing transaction speeds and enabling Ethereum-compatible applications on Bitcoin.
Senate Approves Trump’s Budget Without Crypto Provisions
The Senate passed Trump’s extensive budget bill, notably excluding any references to the crypto sector, despite advocacy from pro-crypto Senators for tax reforms.
Zohran Mamdani’s Mayoral Bid Sparks Crypto Controversy
Zohran Mamdani, a rising socialist candidate for NYC mayor, faces criticism for his anti-crypto stance, contrasting with pro-crypto opponents. His platform focuses on affordable living, but concerns arise over its feasibility.
Korean Police and Binance Strengthen Crypto Crime Tactics
Binance collaborates with the Korean National Police Agency to enhance efforts against digital asset crimes, focusing on real-time investigations and victim support.
Fed Comments May Spark Bitcoin and Altcoin Surge
Jerome Powell’s recent statement hints at potential interest rate cuts, which could lead to a significant rally in Bitcoin and altcoins this July.
Powell Stresses Caution on Interest Rates
Federal Reserve Chair Jerome Powell has emphasized the need for patience regarding interest rates, advocating for a careful approach to decision-making based on more information.
SEC Considers Streamlined Crypto ETF Listings
The SEC is in discussions to simplify the crypto ETF listing process, potentially allowing issuers to file just an S-1 and wait 75 days, bypassing lengthy dual filings.
New Members Join Hong Kong Internet Task Force
The Hong Kong government has appointed 20 unofficial members to the Third Generation Internet Development Task Force, chaired by the Financial Secretary, for a two-year term.
Powell Addresses Possibility of Rate Cuts
Federal Reserve Chair Jerome Powell expressed uncertainty about the timing of a potential rate cut in July, noting that most Fed members expect a reduction later this year.
Bitcoin (BTC) Hits 107,000 USDT with Minor Dip
As of July 1, 2025, Bitcoin has reached the 107,000 USDT mark, currently trading at 107,008.26 USDT, reflecting a slight decrease of 0.43% over the past 24 hours.
Zama Unveils Public Testnet and Simplified White Paper
Zama has launched its public testnet alongside a simplified white paper, warning users against publishing sensitive data as the platform is unaudited and not for production use.
Powell Remains Silent on Future Fed Role
Federal Reserve Chair Jerome Powell has opted not to disclose his intentions regarding his position as a Fed governor beyond May 2026.
CZ Donates $10M in BNB to Vitalik’s Biotech Projects
Binance’s Changpeng Zhao has contributed $10 million in BNB to Vitalik Buterin’s open-source biotech initiatives, aiming to leverage blockchain for scientific advancements.
Polkadot’s DOT Faces 4% Decline, Testing $3.32 Support
Polkadot’s DOT has decreased by 4% from its recent high, currently testing support at $3.32, with resistance noted at $3.46.
Botanix L2 Mainnet Launches, Reducing Bitcoin Block Times
Botanix has launched its decentralized Bitcoin Layer 2 mainnet, promising to cut block times to five seconds and enable smart contracts without centralization.
ATOM Falls Below $4 Amidst Increased Selling Pressure
ATOM-USD has plunged below the crucial $4.00 mark after encountering resistance at $4.18, despite a late recovery attempt. The cryptocurrency faces immediate resistance at $4.02 and support at $3.98.
