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Despite a downturn in the virtual asset market and a plunge in Bitcoin's price this year, reports of unfair trading have increased, Gangwon Ilbo reported. According to data submitted by South Korea's Financial Supervisory Service (FSS) to Democratic Party lawmaker Kim Hyun-jung on June 29, the FSS's Virtual Asset Unfair Trading Report Center received 54 reports from January to May this year. By type, price manipulation was the most common, with 50 cases. There were also two reports each for the use of undisclosed information and other unfair trading practices. The FSS established the report center in January 2024. It received 55 reports in 2024 and 30 last year. With the number of reports in the first five months of this year already nearing the total for all of 2024, this year is on track to set a record for the most reports filed since the center opened.

Canopy Network, an AI-native blockchain development framework, has announced the completion of an $8.5 million seed funding round, according to a report by Odaily. The round saw participation from Arrington Capital, Fenbushi Capital, Borderless Capital, and SNZ Capital.

The spot cumulative volume delta (CVD) chart provides an order book analysis for the BTC/USDT spot pair. The top section displays a volume heatmap, while the bottom shows the CVD. - The volume heatmap tracks the volume of trades at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly. These brighter areas may act as potential support or resistance zones. - The CVD indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line indicates orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

CoinMarketCap's Altcoin Season Index is currently at 48. The index is calculated by comparing the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins, against that of Bitcoin over the past 90 days. The platform considers it an altcoin season if 75% of these top coins outperform Bitcoin during this period. A score closer to 100 indicates a stronger trend toward an altcoin season.

The following are the key global macroeconomic events scheduled for the fifth week of June: - 5:30 p.m. UTC, June 29: European Central Bank President Lagarde speaks - 2:00 p.m. UTC, June 30: U.S. May JOLTS report - 1:00 p.m. UTC, July 1: U.S. Fed Chairman Kevin Warsh speaks - 1:45 p.m. UTC, July 1: U.S. June Manufacturing PMI - 2:00 p.m. UTC, July 1: U.S. June ISM Manufacturing PMI - 12:30 p.m. UTC, July 2: U.S. June Non-Farm Payrolls, Unemployment Rate, and Initial Jobless Claims - 8:30 p.m. UTC, July 2: U.S. Fed balance sheet - July 3: U.S. stock market closed for Independence Day

An address presumed to belong to BitMEX co-founder Arthur Hayes purchased 6.16 million Synapse (SYN) tokens worth $2.2 million about an hour ago via the crypto over-the-counter (OTC) platform Flowdesk, according to an analysis by Onchain Lens. According to CoinMarketCap, SYN is currently trading at $0.383, up 27.78%.

CoinMarketCap's Crypto Fear & Greed Index is currently at 16, indicating continued extreme fear in the market. The index measures market sentiment on a scale from 0 (extreme fear) to 100 (extreme optimism). It is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data such as the put/call ratio, the Stablecoin Supply Ratio (SSR), and CoinMarketCap's proprietary search data.

Loopring (LRC), an Ethereum Layer 2 ZK-rollup protocol, announced via its official X account the immediate shutdown of all its decentralized exchange (DEX) services. In its explanation, the Loopring team stated that the project had failed to attract a significant user base. It cited the protocol's lack of a virtual machine (VM) and the absence of practical use cases like composability and payments as factors that hindered ecosystem growth. The team assured users that their assets are safe and that it will cover all transaction costs for withdrawals. However, to ensure efficiency, only whitelisted accounts with a final balance of $10 or more will be able to process withdrawals. LRC was delisted from South Korean exchanges, including Upbit and Bithumb, in February. According to CoinMarketCap, LRC is currently trading at $0.01228, down 2.41%.

While MicroStrategy (Nasdaq: MSTR) is not in an immediate position to sell its Bitcoin (BTC), the company could face significant pressure to do so ahead of Sept. 15, 2027, when investors in its convertible notes can exercise early redemption rights, according to an analysis by BeInCrypto. The media outlet noted that as of June 22, MicroStrategy's average purchase price for BTC was $75,651. With Bitcoin recently falling below $60,000, the company's stock value has also dropped to a level lower than its BTC holdings. If its funding structure weakens, the burden of losses would first fall on common stockholders, followed by index and pension funds (should MSTR be removed from the MSCI index), investors in convertible notes and preferred stock, and finally MicroStrategy itself. The analysis added that the company's primary debt is unsecured, meaning a drop in BTC's price alone will not trigger a margin call. However, if the convertible note investors exercise their redemption rights in September 2027 and the stock price is below the conversion price, the company may need to repay approximately $1.01 billion in cash, which could necessitate the liquidation of its BTC holdings.

A U.S. official stated that technical negotiations with Iran are expected to continue across the various areas covered by a memorandum of understanding (MOU). The official added that both sides will maintain restraint for the time being, ensuring the free passage of ships.

The European Banking Authority (EBA) has unveiled a draft framework for sanctions that could impose fines of up to 12.5% of annual revenue on non-compliant cryptocurrency issuers, Cointelegraph reported. Under the proposal, issuers of significant Asset-Referenced Tokens (ARTs) could face penalties of up to 12.5% of their annual revenue, while issuers of significant E-Money Tokens (EMTs) could be fined up to 10%. The move is interpreted as a signal that the EU is strengthening its supervisory and enforcement stance as it fully implements the Markets in Crypto-Assets (MiCA) regulation. Cointelegraph noted that by establishing clear criteria for fines, authorities are signaling to the market that the era of regulatory grace periods is officially over. The industry has a public consultation period of approximately three months to submit feedback on the proposed framework, which ends on Sept. 28. Meanwhile, the temporary grace period for operations under MiCA is set to expire on July 1.

Ripple's recent preliminary approval for a MiCA-compliant Crypto Asset Service Provider (CASP) license from Luxembourg's financial regulator (CSSF) is not yet final, CryptoSlate reported. To secure final approval, Ripple must demonstrate that its Luxembourg branch is equipped with the necessary staff, capital, and control systems, and that it operates separately from its stablecoin, RLUSD. The media outlet noted that the preliminary approval was issued as a "green light letter," which functions as a conditional promise. This indicates that while there are no issues in principle, the process of verifying the remaining conditions has now begun. Ripple must now prove to the regulator, on a service-by-service basis, that its local entity can effectively operate its payment, custody, transfer, and stablecoin businesses.

Binance's Philippine partner, BlockShoals, has received in-principle approval for its StratBox regulatory sandbox from the Fintech Innovation Office of the country's Securities and Exchange Commission (SEC), founder Changpeng Zhao (CZ) announced on X. The Philippine central bank (BSP) had previously stated that neither Binance nor BlockShoals holds a Virtual Asset Service Provider (VASP) license from the bank, adding that participation in the SEC's sandbox does not exempt a firm from the separate approvals needed to operate trading infrastructure.

According to CoinNess market monitoring, BTC has fallen below $59,000. BTC is trading at $58,970.2 on the Binance USDT market.

Julio Moreno, Head of Research at CryptoQuant, warned that if Strategy, the largest corporate holder of Bitcoin, were to sell its common stock (MSTR) or its BTC holdings to defend the price of its preferred stock (STRC), it would signal a key price level to the market. He cautioned that this would effectively tell speculators the BTC price level Strategy is trying to protect, prompting them to intensively attack that level. Moreno had previously pointed out that the primary reason STRC's price fell below $100 was the deterioration of Strategy's fundamentals. He suggested that the company's strategic priority should be to halt further Bitcoin purchases and focus on rebuilding its cash reserves.

The Bank for International Settlements (BIS) has warned that the accelerating expansion of the stablecoin market, currently estimated at around $316 billion, could fragment the global monetary system and weaken the control of national monetary authorities, Cointelegraph reported. The BIS pointed out that stablecoins lack the institutional framework to support the safety and reliability required for them to become a large-scale payment method. It also highlighted the potential for poor management of reserve assets and a reduction in banks' capacity to lend to the real economy if deposits shift to stablecoins. The report specifically noted that the spread of U.S. dollar stablecoins in countries with weaker currencies could undermine monetary sovereignty and the effectiveness of monetary policy, increasing the risk of volatile cross-border capital flows for emerging economies. The BIS added that open blockchains like Bitcoin and Ethereum have limitations in scalability, legal accountability, and payment finality that make them unsuitable as a foundation for financial infrastructure. As an alternative, it proposed a "unified ledger" structure that would tokenize central bank money, commercial bank deposits, and financial assets within a regulatory-compliant framework, suggesting this could achieve both payment modernization and monetary stability.

Real-world asset (RWA) tokenization platform MSX announced that it has opened an airdrop claim page for its ecosystem token, MSX. The total supply of MSX is 1 billion tokens, and eligible users can now claim their allocation on the platform. The initial airdrop and related incentives are scheduled to vest sequentially over a three-month period. MSX explained that the token will be used as a means of ecosystem verification for participating in U.S. stock token trading and pre-IPO project subscriptions. The company added that staking and VIP benefit programs are currently in testing and development.

Binance founder Zhao Changpeng (CZ) has refuted a Forbes wealth ranking that estimated his net worth at $108.9 billion, placing him ahead of Bill Gates as the world's 18th-richest person. According to U.Today, Forbes recently updated its list, attributing the increase in CZ's wealth to Binance's rising valuation. Forbes noted that CZ owns approximately 90% of the exchange, which generates around $16 billion in annual revenue, and that his net worth surged by $47 billion over the past year despite a more than 50% drop in cryptocurrency prices. In a post on X, CZ questioned the estimate's logic, asking how his net worth could increase while crypto prices fell by over 50%. When another X user commented that the Forbes billionaire list is merely an estimate and consists of "randomly guessed numbers," CZ replied, "That's correct."

Outflows from Bitcoin spot ETFs are creating a significant sell wall at a time when the market needs spot demand to rebound, CryptoSlate reported. The outlet noted that during the week of June 22–26, Bitcoin ETFs saw net outflows of approximately $1.79 billion. BlackRock's IBIT accounted for 73% of this total, with $1.3 billion withdrawn. While ETFs remain a complex demand channel for the Bitcoin market, they are currently functioning as the largest channel for spot redemptions. CryptoSlate emphasized that the next few trading days will be crucial. If selling pressure from IBIT subsides, it could signal market fatigue with the recent sell-off. However, another wave of large-scale redemptions would amplify concerns about an ETF-driven sell wall.

The U.S. and Iran have agreed to halt mutual attacks and are scheduled to hold talks this week, Axios reported, citing U.S. officials.

Whale Alert reported that 6,270,364 SOL has been transferred from Binance to an unknown wallet. The transaction is valued at about $446 million.

We provide real-time cryptocurrency updates around the clock from 10:00 p.m. UTC on Sunday through 3:00 p.m. UTC on Saturday. Outside these hours, coverage is limited to critical market-moving developments. Note: Overseas economic news flashes will continue to be provided through the CoinNess Live app and our web services.

According to CoinGlass data, if BTC breaks below $58,044, long positions worth $855.80 million on major centralized exchanges (CEX) are projected to be liquidated. Conversely, if the price breaks above $62,012, short positions worth $756.74 million will be liquidated.

European Central Bank (ECB) Executive Board member Isabel Schnabel warned on June 27 that inflationary pressures could prove stronger than anticipated, even if the Strait of Hormuz reopens following a U.S.-Iran peace agreement. Schnabel stated that there are upside risks to food, commodity, and services inflation, adding that the shock from energy prices could spill over into broader sectors. While welcoming the recent decline in energy prices on the prospect of a peace deal, she emphasized that a ceasefire should not be a reason to lower the guard against inflation. Schnabel said that although uncertainty remains high, the announced peace agreement has reduced the likelihood of a negative scenario. However, she added that oil prices are expected to remain high because the Strait of Hormuz will only be reopened in phases. Schnabel, considered a prominent hawk on the ECB's Governing Council, reiterated her belief that the central bank will likely implement further interest rate hikes to return inflation to its 2% target in the medium term. She noted that consumer inflation expectations have already risen, but signs of wage pressure have not yet emerged.

In an interview with CoinDesk, Binance founder Changpeng Zhao (CZ) stated that this year's cryptocurrency market downturn is the result of a combination of factors. He pointed to the investment frenzy in AI diverting capital, geopolitical risks between the U.S. and Iran, and the industry's typical four-year cycle as combined pressures on the market. Despite this, Zhao remains optimistic about the industry's long-term growth. He said he is not overly concerned with short-term price fluctuations, as he expects demand for financial technology and trading volumes to increase steadily over time. Zhao also views the movement of speculative funds to new industries like AI as a long-term positive and believes prediction markets will help the overall crypto market by improving price discovery and liquidity. Regarding the U.S. CLARITY Act, he described it as an important piece of legislation but not one that will determine the industry's long-term success. Zhao predicted that the U.S. will maintain its leadership in crypto regulation even if the bill's passage is delayed.