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Tether, the issuer of USDT, has frozen a Tron address flagged for large-scale money laundering and unusual transactions involving 120.2 million USDT, according to on-chain analyst ZachXBT. The address allegedly distributed funds to KuCoin and various swap exchanges before making large purchases of Monero (XMR). A total of 72 million USDT was frozen as a result of the action. ZachXBT explained that the address also used NEAR Intents to bridge over $8 million from the Tron network to the Bitcoin and Ethereum networks to evade tracking. He added that Tether's comprehensive freeze on all related addresses has successfully locked up the 72 million USDT and appears to have blocked further money laundering and withdrawal attempts.

AI0x, the operator of Fancycoin (FANC), announced it has launched a global emergency donation campaign to support recovery efforts following a major earthquake in Mindanao, Philippines. The Fancy Foundation is leveraging its blockchain-based infrastructure to enhance both the transparency and efficiency of the donations. Contributions can be made to the ENS wallet address celebe.eth using any Ethereum network-based asset (ERC-20). The campaign is expected to serve not only as a relief effort but also as an opportunity to expand real-world use cases for Fancycoin and blockchain technology. Fancycoin has already established a significant presence in the Philippines. In 2023, FANC was listed on Coins.ph, a local virtual asset exchange with over 18 million members, creating a direct trading pair with the Philippine peso (PHP). Additionally, its short-form platform, CELEBe, briefly reached the number one spot on the Philippine Google Play Store, and its "#LOVEPH" campaign successfully engaged more than 10,000 local creators.

An on-chain analyst has argued that the current bear market will likely continue until the large-scale inflow of Bitcoin (BTC) to exchanges and the outflow of stablecoins are reversed. In a blog post, analyst Axel Adler Jr. noted that the net flow of BTC into exchanges turned positive around May 18, peaking at approximately 167,000 BTC early this month and currently standing at around 114,000 BTC. He interpreted this as a sign of continuous selling by holders. Adler also pointed out that during the same period, the 30-day moving average of net stablecoin inflows, which was between $40 million and $90 million in early May, has now reversed to approximately -$105 million. This shift suggests that liquidity is draining from the market and demand is weakening. He stated that these two trends coincide with Bitcoin's 22% drop from its May high. Adler concluded that unless these movements reverse simultaneously, any market rebound will be merely a technical bounce.

According to a report from a16z crypto, privacy is the final piece of the puzzle needed to unlock on-chain investment from institutional investors. The firm noted that the biggest historical barriers to institutional crypto investment have been blockchain performance, regulatory uncertainty, and privacy. While the first two challenges have been largely overcome, privacy remains a significant hurdle. Most public blockchains are transparent by default, but institutions require confidentiality regarding transaction sizes and counterparties. a16z crypto explained that meeting these expectations requires not only the cryptographic knowledge to implement privacy systems at scale but also a deep understanding of the diverse privacy needs of different institutions, such as custody firms and asset managers.

Although XRP has recovered to $1.14 following last week's sharp decline, a true trend reversal is unlikely unless it can break through the $1.20-$1.25 resistance zone, CoinDesk reported. The media outlet noted that at 5:00 p.m. UTC on June 11, trading volume surged to 120.2 million XRP—more than 160% above average—breaking the $1.1220 resistance level. Continued buying pressure then pushed the price past $1.14. Unlike previous rebounds since February that quickly faded, this rally is supported by significant trading volume. However, XRP remains below a downtrend line established in early 2026, trapping it between a short-term rebound and a long-term bearish structure. Previous recovery attempts this year have all stalled below the $1.20-$1.25 area, which many analysts view as a key inflection point. A successful break above $1.25 would set the next targets at $1.40 and then $1.50. Conversely, a rejection at this resistance would likely solidify the downtrend, shifting focus back to the $1.09 support level. Some bearish analysts believe a final drop to $0.90 is necessary to form a true market bottom.

Former U.S. SEC Chairman Gary Gensler has stated that sports prediction markets must not circumvent state laws. According to CoinDesk, Gensler submitted an amicus brief to the sixth U.S. Circuit Court of Appeals, arguing that the sports contracts offered by decentralized prediction market Kalshi violate state-level gaming and gambling regulations. His filing counters a claim made last month by the Commodity Futures Trading Commission (CFTC) that such markets fall under its federal jurisdiction. Gensler contended that while Congress granted the CFTC authority over certain derivatives, this was not intended to nullify state gambling laws. If the federal court sides with the CFTC, states could lose significant tax revenue. Conversely, a victory for the states would require prediction markets to register and comply with regulations in each state of operation, potentially facing criminal charges for running unregistered platforms in some jurisdictions.

Blockchain analytics firm TRM Labs announced that it is tracking cryptocurrency scams aimed at the 2026 World Cup. The firm stated it has so far identified two fake ticket websites that mimic the official World Cup site to solicit crypto payments, and one match-fixing betting scam demanding upfront Bitcoin payments with claims of knowing game outcomes in advance. In one of the fake ticket scams, approximately $1,562 was deposited into a Polygon (POL)-based address, with the funds later moved to the Tron (TRX) network after several swaps. TRM Labs also warned that memecoins presented as fan-led projects, such as WORLDCUP listed on LBank, could become vehicles for pump-and-dump schemes. "While confirmed losses so far are only around $1,700, there is a risk of additional victims from some of the existing scam infrastructure," the company added.

Validators on the decentralized exchange Hyperliquid will vote on whether to delist TON at approximately 9:00 a.m. UTC on June 15. The move follows the rebranding of Gram (GRAM) to Toncoin (TON). If the delisting is approved, all perpetual futures positions will be automatically settled based on the one-hour time-weighted spot oracle price immediately preceding the vote, and any open orders will be canceled. Following the settlement, no new orders will be accepted. Hyperliquid has advised users to close their positions before the vote to avoid automatic settlement.

Binance has announced its support for the rebranding of Toncoin (TON) to Gram (GRAM). The exchange will delist all TON spot trading pairs at 3:00 a.m. UTC on June 30, at which point all open orders will be canceled. Trading for the new GRAM token is scheduled to begin at 8:00 a.m. UTC on July 2. The supported trading pairs will be GRAM/FDUSD, GRAM/IDR, GRAM/TRY, GRAM/U, GRAM/USD1, GRAM/USDC, and GRAM/USDT.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.27% long, 49.73% short - Binance: 52.55% long, 47.45% short - OKX: 52.23% long, 47.77% short - Bybit: 51.86% long, 48.14% short

An official from South Korea's Ministry of Strategy and Finance stated that the government currently views tokenized stocks as securities, adding that they could be taxed immediately under the Capital Markets Act if the Financial Services Commission (FSC) concurs, Bloomingbit reported on June 12. The outlet noted that if the FSC clarifies the legal status of tokenized stocks in its upcoming guidelines on security tokens, scheduled for release this July, taxation could begin as early as the second half of this year.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section shows the Cumulative Volume Delta (CVD). - The Volume Heatmap on top tracks the scale of trading volume at specific price levels. The background color brightens when the price remains in a certain range for an extended period or moves significantly. These brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

LAB has risen by 4.41% in the past five minutes on the COINNESS market. Currently, LAB is trading at $10.19.

U.S. spot Ethereum ETFs recorded a net outflow of approximately $15.9 million, marking the third consecutive trading day of outflows, according to data from Farside Investors. The breakdown is as follows: - BlackRock (ETHA): +$8.6 million - Fidelity (FETH): -$20.5 million - Grayscale Mini ETH: -$4 million

Avalanche Treasury Co. (AVAT), a digital asset financial management platform within the Avalanche ecosystem, closed down 38.13% on its first day of trading on Nasdaq. According to data from Yahoo Finance, the stock opened at $2.99 and closed at $1.85 on June 11.

Approximately 30% of Polymarket's total trading volume originates from the United States, despite a legal ban on its use by American residents, Wired reported. The report cites a study by Harry Crane, a statistics professor at Rutgers University, which estimates that U.S. users deposited between $10.6 billion and $26.7 billion on the platform from May 2025 to late April 2026. The study based its estimates on the concentration of American users in U.S.-centric markets, such as American elections and sports, and their distinct trading hours. Notably, half of all sports market trading was found to have been conducted from the U.S. If Polymarket maintains its current market share, U.S. trading volume is projected to reach $133 billion by 2030. U.S. users are reportedly circumventing the ban, which was implemented in 2022, by using VPNs to mask their location. Polymarket was prohibited in the U.S. in 2022 for operating an unregistered derivatives exchange. However, since December 2025, the company has been operating a separately licensed mobile app, "Polymarket US."

The cryptocurrency market is struggling to compete with the artificial intelligence (AI) boom for institutional capital, according to an analysis by Cointelegraph Market Research. The following are four key reasons why crypto is losing out to AI: - Performance gap. The S&P 500, excluding AI stocks, has risen only 3.5% this year. In contrast, an AI-focused index has surged nearly 50% over the same period. AI-related stocks have been the primary driver of the broader index's recent rally, leading the S&P 500 to 11 consecutive record-high closes in the past month. - Scale of investment in AI. U.S. Big Tech firms are projected to spend approximately $725 billion on AI infrastructure this year. Nvidia recently posted a single-quarter revenue of $81.6 billion, while memory chip maker SK Hynix is reporting a 72% profit margin, fueled by demand from Nvidia's supply chain. Institutional investors follow performance, and cryptocurrency is not currently delivering comparable results. - Valuation challenges. AI infrastructure spending can be easily verified through metrics like revenue, capital expenditures (CAPEX), and profit margins. In contrast, the value of cryptocurrencies is difficult for traditional institutions managing benchmark portfolios to quantify. While the stablecoin supply has reached an all-time high, indicating peak dollar liquidity within the digital asset ecosystem, these funds are largely remaining in tokenized U.S. Treasurys for stable returns rather than flowing into crypto. Liquidity exists, but conviction to invest in risk assets is lacking. - Timing and the identity of sellers. U.S. spot Bitcoin ETFs recorded $2.3 billion in net outflows last month, marking their worst monthly performance this year. This included a 10-day streak of net outflows that coincided with the rally in AI-related stocks. This selling pressure was concentrated among large institutional funds rather than being widespread across the market. Long-term holders continue to accumulate quietly off-exchange. Major crypto market maker Wintermute revealed it has been buying over-the-counter (OTC) around the $72,000 level. This suggests investors have not abandoned crypto, but that large-scale capital is currently opting for what it perceives as clearer investment opportunities.

Aptos announced that it permanently burned 187,800 APT in May. The cumulative amount of APT burned since the mainnet launch has now reached 1.2 million. The total supply of APT is currently set at 2.1 billion.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $77.49 million liquidated (85.49% shorts) - ETH: $64.57 million liquidated (57.52% shorts) - VELVET: $10.72 million liquidated (71.63% shorts)

Kbank, the banking partner for South Korean crypto exchange Upbit, is considering joining a won-denominated stablecoin consortium led by Hana Financial Group, Money Today Broadcasting reported. The outlet noted that while Kbank's largest shareholder is BC Card, a KT affiliate, rival SK Telecom is also a member of the Hana-led consortium. Despite initial speculation that this competitive dynamic could complicate Kbank's participation, the prevailing view within the consortium is reportedly to treat the interests of the two telecom giants as separate matters.

U.S. Bitcoin spot ETFs saw a net outflow of approximately $22.5 million on June 11, according to data from Farside Investors. Invesco's BTCO, Franklin Templeton's EZBC, Valkyrie's BRRR, WisdomTree's BTCW, and Grayscale's GBTC recorded no net flows. - BlackRock's IBIT: +$30.3 million - Fidelity's FBTC: -$5.5 million - Bitwise's BITB: -$13.1 million - Ark's ARKB: -$27.2 million - VanEck's HODL: -$14.8 million - Morgan Stanley's MSBT: +$2.2 million - Grayscale Mini BTC: +$5.6 million Note: This article was updated to reflect a net outflow. An earlier version, based on data from Trader T, incorrectly reported a net inflow. We apologize for the inconvenience.

Bitcoin Core, a Bitcoin full-node client, announced on X that its developers have discovered a privacy bug in the recently released v31.0. The bug could expose the IP address of the user who first broadcast a transaction to the receiving node under certain network conditions. A fix is currently in progress, and the patch is scheduled to be deployed in the next version, v31.1.

Whale Alert reported that 200,000,000 USDC has been transferred from Binance to an unknown wallet. The transaction is valued at about $200 million.

Anthony Pompliano, CEO of ProCap Financial (BRR), has clarified what he calls a major misunderstanding about his firm. In a post on X, he stated that ProCap Financial is not a Bitcoin company but rather an AI company that holds Bitcoin on its balance sheet. Pompliano described this as a small but crucial distinction, adding that its importance will become more apparent over time.

The Altcoin Season Index from crypto data platform CoinMarketCap has risen two points from yesterday to 50. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped tokens, against Bitcoin. An 'altcoin season' is declared when 75% of these top coins have outperformed Bitcoin over the past 90 days. A score closer to 100 indicates a stronger trend toward an altcoin season.