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Thailand's Department of Special Investigation (DSI) has expanded its probe into illegal cryptocurrency mining, Decrypt reported. The DSI is tracking a financial network believed to be connected to a criminal organization with Chinese roots, with annual transactions exceeding 10 billion baht (approximately $300 million). The probe began during a crackdown on mining farms using illegal electricity, which led to the dismantling of three mining groups and the seizure of more than 6,390 mining rigs.

Erald Ghoos, CEO of OKX Europe, told The Block that 80% of local exchanges may not survive the end of the grace period for the EU's Markets in Crypto-Assets (MiCA) regulation on July 1. He noted that 60% of European crypto users are currently on platforms without a MiCA license. Ghoos added that Binance is also at risk of having its EU services suspended after its application in Greece was rejected, and that users should be prepared for disruptions on unlicensed exchanges after the deadline.

The three major U.S. stock indices opened lower today. - S&P 500: -1.59% - Nasdaq: -2.38% - Dow Jones: -0.70%

Market tension is rising as Bitcoin trades around $62,400, near its 200-week moving average, CoinDesk reported. The outlet noted that if this support level fails, the next major support is the Realized Price—the average purchase price of all BTC holders—at $53,457. This metric has repeatedly served as a bottom signal in past major bear markets, including those in 2011, 2015, 2018-2019, 2020, and 2022, where Bitcoin fell below the Realized Price before establishing a floor. From a market sentiment perspective, a drop below the average holder's cost basis could amplify fear as losses mount. Meanwhile, on-chain data shows that the average purchase price for whales holding 10,000 to 100,000 BTC is approximately $54,300, while mega-whales with over 100,000 BTC have an average cost basis of around $49,000. This suggests that if these large investors defend their positions, Bitcoin could form a bottom in the $50,000 to $54,000 range.

The Ethereum Foundation (EF) has completed its restructuring process, reducing its workforce by approximately 20%, or 54 employees, the foundation announced on its official blog. Going forward, the foundation will operate with five core departments—Protocol, Access, User, Community, and Institutional—alongside operations and management support teams. The foundation added that the 54 employees affected by the layoffs will receive a severance package that includes one month's salary for each year of service, a retirement payment, and a support fund with career coaching. This move follows earlier concerns within the crypto industry regarding staff departures and potential financial difficulties at the foundation.

SecondFi, a wallet in the Cardano (ADA) ecosystem formerly known as Yoroi, announced on X that it has suffered a loss of 16 million ADA, worth approximately $2.4 million, due to a platform vulnerability exploit. The platform is currently in maintenance mode, and a snapshot of existing balances has been taken. Further details regarding the hacker's activities and any compensation plans will be released at a later date.

Last-minute negotiations over the CLARITY Act are ongoing in Congress as its passage deadline nears, CoinDesk reported. The most contentious issue is an ethics provision that would restrict public officials from maintaining business relationships with the crypto industry, a point of difficulty due to its connection to the Trump family, World Liberty Financial (WLFI), and the TRUMP memecoin. Patrick Witt, executive director of the White House Cryptocurrency Committee, is reportedly pushing for the provision to apply to a broad range of public officials rather than being targeted specifically at the president. Other unresolved issues include concerns over the regulatory capacity of the Commodity Futures Trading Commission (CFTC), disputes over liability exemptions for DeFi developers, and the matter of stablecoin interest. The Digital Chamber and its member companies are lobbying with the goal of bringing the bill to a floor vote on July 13. However, if the bill fails to pass the Senate before the August recess, the chances of it becoming law this year will decrease significantly.

A new address has withdrawn 1,683 BTC, worth approximately $104.87 million, from Binance, Onchain Lens reported. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

Decentralized prediction market platform Kalshi has added India to its list of restricted countries, Cointelegraph reported. According to its revised terms of service, residents of 55 countries and regions, including India, are now barred from accessing the platform. The move follows a warning from India's Ministry of Electronics and Information Technology to VPN providers, urging them not to facilitate access to illegal and blocked online betting and prediction market platforms. Other countries, including Singapore, Poland, Portugal, Hungary, Ukraine, and Brazil, have also blocked or banned prediction market platforms such as Kalshi and Polymarket.

Only four of the eight projects that conducted a Token Generation Event (TGE) following an airdrop in the second quarter have seen their market capitalization increase, according to data from Cryptorank. The projects that experienced growth are Genius (GENIUS, 120%), o1 Exchange (O, 77.9%), Billions (BILL, 73.0%), and Re Protocol (RE, 64.5%). In contrast, Zentry (AI) and Fluent (BLEND) saw their market caps fall by 65.2% and 56.8%, respectively.

Swiss banking giant UBS Group has completed a compliance-related proof-of-concept (PoC) on the Ethereum network in collaboration with Ethereum execution client Nethermind, Cointelegraph reported. The trial, which took place on the Sepolia testnet, did not involve any real transactions.

Agustín Carstens, former General Manager of the Bank for International Settlements (BIS), has stated that stablecoins can promote financial inclusion and innovation. According to Cointelegraph, he said that stablecoins could contribute to expanding financial innovation, broadening financial inclusion, and reducing costs. Carstens added that an environment must be created where fiat currencies and stablecoins can coexist.

Enterprise blockchain data platform Allium has raised $40 million in a Series B funding round led by Amplify Partners, Fortune reported. Allium provides a service that refines complex blockchain data, making it easier for institutional investors to utilize. The company currently supports clients including a16z Crypto and Coinbase. It anticipates that demand for its data will grow in the future, driven by an increase in financial transactions between AI agents.

Lido (LDO) announced it has withdrawn official status for its wstETH bridges on nine networks, including zkSync, Mantle, and Polygon PoS. The DAO assured users that assets held on these chains are safe and that no action is required. It clarified that the bridge services are not being discontinued and the token's validity remains unchanged. Users can continue to hold, transfer, or move their wstETH to Ethereum as before.

Upbit has announced the temporary suspension of deposits and withdrawals for ZeroG (0G), effective from 11:00 a.m. UTC on June 25.

Iran will limit the number of ships passing through the Strait of Hormuz to a specific number each day, Iranian media outlet Fars News reported, citing a military source. The exact number of vessels permitted will be adjusted daily based on the prevailing situation.

BTC's implied volatility is holding at relatively low levels ahead of the $10.5 billion quarterly options expiry, according to an analysis by crypto derivatives exchange Deribit. The Deribit Volatility Index (DVOL) is currently at 41.5%, a significant drop from its 90% level in February of this year. Low implied volatility in BTC suggests that traders do not expect large price swings in the near future. This, in turn, lowers option premiums, reducing the cost of hedging or making directional bets. In an interview with CoinDesk, Deribit Chief Business Officer Jean-David Péquignot assessed that while BTC volatility is low compared to historical levels, it is not at an extreme low.

The U.S. Office of the Comptroller of the Currency (OCC) has proposed a new rule that would apply the Bank Secrecy Act and the GENIUS Act to stablecoin issuers, PYMNTS reported. The proposal would require these firms to establish Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) programs. Additionally, they would need to comply with reporting requirements from the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC).

U.S. President Donald Trump stated that an agreement has been reached to keep the Strait of Hormuz open without any further maritime blockades. He added that Iran has consented to long-term nuclear inspections, which he described as a key condition of the negotiations.

The cryptocurrency market is showing weakness due to a sell-off in U.S. tech stocks and an accelerating rise in the Dollar Index (DXY), CoinDesk reported. The media outlet explained that the decline appears to be driven by short-side leverage in the derivatives market, with defensive sentiment against downside risk persisting in the options market ahead of Friday's expiration. Despite the overall market weakness, some privacy altcoins have performed well. Attention is also turning to a potential technical rebound as the market's average Relative Strength Index (RSI) enters oversold territory.

Oman and Iran have issued a joint statement emphasizing their sovereign rights within the territorial waters of the Strait of Hormuz. The two nations also affirmed their commitment to ensuring safe passage through the strait.

Japanese financial giant SBI Group will issue a yen-pegged stablecoin, JPYSC, this week, Nikkei reported. The issuance will be managed by SBI Shinsei Trust Bank, with trading support provided by crypto firm SBI VC Trade. The stablecoin was co-developed with Singaporean fintech firm Startale Group.

Excessive leverage in the cryptocurrency market has been largely resolved, according to an analysis by crypto market maker Wintermute. The firm noted that consistent BTC purchases by Strategy have also eased potential selling pressure. However, Wintermute cautioned that demand from major buyers like ETFs and Strategy has weakened considerably compared to the past. If the structure of capital inflows does not improve, the market is likely to remain range-bound for the foreseeable future, the firm added.

The Lebanese militant group Hezbollah said in a statement that an Israeli attack on southern Lebanon violated their ceasefire agreement.

MyTonWallet, a wallet within the Telegram ecosystem, has announced its rebranding to My Wallet and will now support 11 blockchain networks. The wallet offers portfolio tracking, fee-free transfers, transaction simulations, and a built-in AI agent.