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South Korea's ruling Democratic Party is positively considering the re-establishment of its Digital Asset Task Force, according to an exclusive report from Digital Asset. The party initially launched the task force last September, but it was dissolved along with all other intra-party task forces when the floor leader's term expired. The Democratic Party stated it plans to reconstitute necessary task forces once the formation of its standing committees is complete, a process it aims to finish by June 18 at the latest.

io.net (IO) has unveiled a new tokenomics model, the Incentive Dynamic Engine (IDE), to mark its third anniversary. The IDE adjusts the IO token supply based on network usage, with its core function being the permanent burning of IO tokens using revenue generated from the platform's services. As a result, the project anticipates burning a minimum of 12 million IO over the next year.

Hong Seong-guk, chairman of the ruling Democratic Party's National Economic Advisory Council, has called for the normalization of asset markets in response to the recent sharp decline in virtual assets, Digital Asset reported. Speaking at a parliamentary debate on June 11 commemorating the first anniversary of the Lee Jae-myung administration, Hong identified the digital asset market's downturn, which affects an estimated 10 million investors, and the risk of a weakening Korean won as urgent problems. He also proposed preparing for inflation driven by the prolonged war in Iran and a semiconductor boom, as well as adapting to post-war policy changes from the Trump administration.

The Iranian Foreign Ministry stated that a U.S. attack has rendered the ceasefire meaningless.

Bithumb CEO Lee Jae-won has been booked as a suspect on bribery charges amid an investigation into allegations that he was improperly solicited by independent lawmaker Kim Byung-ki to hire the politician's son, News1 reported. According to police sources on June 11, the Seoul Metropolitan Police Agency's Public Crime Investigation Division is investigating Lee for his alleged involvement in the hiring process. The lawmaker's son was reportedly employed by Bithumb as an intern for about six months starting around January of last year. Police are also looking into the fact that a former aide to Kim has been serving as an unofficial advisor to the exchange since around September of last year.

Spain's Cecabank has announced the launch of a cryptocurrency custody service for local financial institutions. The service will initially be offered to Spanish investment bank Renta 4 Banco, with trading and transaction execution managed by Bit2Me, a firm compliant with the European Union's Markets in Crypto-Assets (MiCA) regulation. Cecabank also plans to expand the service to neighboring European countries in the future.

According to CompaniesMarketCap, which tracks the market capitalization of major global assets and companies, Samsung Electronics has once again surpassed Bitcoin, climbing to 13th in the global asset rankings as of June 11. The two assets have been trading places in the rankings recently, with Bitcoin's ongoing weakness contrasting with a rally in South Korean semiconductor stocks, including Samsung Electronics.

Woori Bank has signed a business agreement with fintech startup CrossHub to improve payment convenience for foreigners visiting South Korea, Newsis reported on June 11. The two companies will jointly develop a digital wallet exclusively for foreign visitors, with a target launch in the second half of the year. The service will allow users to register their passport information and payment method once to access simple payments across major domestic platforms for services like transportation, delivery, and shopping without needing additional authentication. Additionally, the partnership will involve testing a domestic payment environment using foreign currency-based stablecoins to assess the feasibility of building a new payment infrastructure.

Japan's House of Representatives has passed a bill to classify cryptocurrencies as financial products, similar to stocks, which will lower the tax rate to a flat 20% starting in 2028, Bloomberg reported. Under current law, crypto profits in Japan are taxed at a maximum rate of 55%. The amendment also introduces penalties for crypto insider trading comparable to those for listed stocks and significantly increases punishments for unregistered crypto sellers. Once the amendment is enacted next year, the Japan Exchange Group (JPX) will be able to pursue listings for crypto ETFs, including those for BTC and ETH. This development could diminish the standing of companies like Metaplanet, which hold large amounts of cryptocurrency. Additionally, there is speculation that many of Japan's 27 smaller registered exchanges could face restructuring.

South Korean crypto exchanges Bithumb and Coinone have announced on their official websites that they will delist Highstreet (HIGH) at 6:00 a.m. UTC on July 13. The exchanges stated that they decided to terminate trading support after determining that the issues that led to HIGH's placement on a delisting watchlist have not been resolved.

Silicon Valley startup accelerator Y Combinator is urging the passage of the CLARITY Act. The firm stated that while blockchain enables low-cost, instant global asset transfers, 24/7 trading, and open APIs, it requires integration with key parts of the traditional financial ecosystem—such as banks, brokers, exchanges, and custodians—to be truly effective. According to Y Combinator, the CLARITY Act could achieve this by defining which crypto assets are securities and which are commodities, thereby completing regulatory clarity alongside the GENIUS Act. If the bill passes, the firm emphasized, companies could pay global customers instantly, exchanges could settle trades in seconds, and software firms could operate around the clock in 150 countries without needing banks.

An address believed to be associated with FTX and Alameda unstaked 200,241 SOL (approx. $12.99 million) about 32 minutes ago, according to Onchain Lens. Based on past patterns, the funds are likely to be split across multiple addresses and then transferred to Coinbase and Binance.

As Ethereum (ETH) entered a deeply oversold phase after falling 67% from its all-time high, open interest for the asset on Binance has reached a record 3.7 million ETH, crypto analyst Darkfost reported on X. He explained that traders are expanding their positions amid the price decline, with buying interest returning following the drop. Darkfost noted that Binance holds a market share of over 44% among all exchanges. Additionally, the weekly average Taker Buy/Sell Ratio has increased from 0.95 to 1.0, which he said suggests that market inflows are finding a balance after several months of a seller-dominated environment.

Singapore's largest bank, DBS, has announced the launch of a tokenized physical gold product for its retail clients. According to Reuters, the bank will offer the DBS Physical Gold Token through its digibank app in the second half of 2026. Each token will be pegged to one gram of physical gold stored by DBS in a dedicated vault in Singapore and will be redeemable for the physical metal.

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: 49.84% long, 50.16% short - Binance: 50.67% long, 49.33% short - OKX: 50.56% long, 49.44% short - Bybit: 52.82% long, 47.18% short

The number of addresses holding Ethereum has reached approximately 195 million, according to on-chain analytics firm Santiment. In a post on X, Santiment noted that the number of ETH addresses has grown sharply over several cycles compared to other major assets. The current count is more than three times the number of Bitcoin-holding addresses, which stands at 59 million, and the gap between the two is steadily widening. The firm attributed this growth to Ethereum's dominance in DeFi, staking, and on-chain activity, indicating that holders are actively participating in the ecosystem. "While recent public investor sentiment has entered a state of extreme fear, long-term adoption is on the rise," Santiment explained.

Swellchain (SWELL) has reiterated via its official X account that it will permanently shut down its native network on June 15. The move follows a previous announcement in April, where the project stated it would discontinue its network to focus on Faro, an AI intelligence platform built on Hyperliquid (HYPE). Swellchain will continue to operate on the Ethereum (ETH) network, and its SWELL token is also planned to remain active through a separate program.

The Philippine central bank (BSP) has stated that neither Binance nor its local partner, BlockShoals Technologies, holds a Virtual Asset Service Provider (VASP) license, according to local media outlet BitPinas. The BSP's announcement follows a recent move by the Philippine Securities and Exchange Commission (SEC) to re-designate Binance as a global Crypto Asset Service Provider (CASP) partner, rather than a global VASP, while modifying the terms of BlockShoals' sandbox trial. The central bank emphasized that participating in the SEC's regulatory sandbox does not exempt a company from needing a separate BSP license to operate trading infrastructure. The BSP is currently in discussions with the SEC regarding the partnership.

Euroclear, the world's largest International Central Securities Depository (ICSD), plans to tokenize Europe's largest market for short-term commercial paper (NEU CP) using distributed ledger technology (DLT), the company said in an interview with Cointelegraph. The initiative is being pursued in collaboration with the Banque de France, the country's central bank. Jørgen Ouaknine, head of digital assets at Euroclear, stated that the firm does not distinguish between DeFi and TradFi (traditional finance). He explained that while assets and cash are on different rails, the company must meet all of its clients' financial needs. Ouaknine noted that while Europe utilizes CBDCs, the development of stablecoins in the U.S. also has its advantages, and the tokenization process will not be limited to a specific chain. He emphasized that tokenization has now moved beyond the experimental stage and into the infrastructure-building phase.

South Korea, which has only about 0.6% of the world's population, accounts for 30% of the global cryptocurrency spot trading volume, Financial News reported. Speaking at the Korea Exchange in Seoul today, Catherine Chen, Head of Institutional at Binance, said this indicates that demand in the South Korean crypto market is based on strong structural factors rather than a short-term trend. She added that as the market is brought into the regulatory fold, domestic institutional investors will need partners that meet high liquidity and strict compliance standards. Chen stated that Binance, through its dedicated team for Korea, will work closely with local financial institutions and related companies to support the market's stable growth.

The Spot CVD chart is an order book analysis tool for the BTC/USDT spot pair. The upper section displays a Volume Heatmap, while the lower section shows the Cumulative Volume Delta (CVD). - The upper Volume Heatmap tracks trading volume at specific price levels. The background color brightens when the price remains in a certain range for an extended period or experiences a significant move. These brighter areas can indicate potential support or resistance levels. - The lower Cumulative Volume Delta (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 tracks orders between $100 and $1,000, while the brown line represents large orders from $1 million to $10 million.

While Bitcoin's price has dropped near its 200-week moving average, a level historically reached only late in bear markets, a firm bottom will likely be established only after capitulation selling is followed by months of consolidation, according to an analysis. Citing data from Checkonchain, CoinDesk reported that BTC has fallen to a key level watched by long-term holders and that its current valuation is in the bottom 10% of its historical range. This phenomenon was previously seen only during the deepest phases of past bear markets. Checkonchain noted that such indicators typically appear when most price-sensitive sellers have already disposed of their holdings. The firm suggested a bottom would be confirmed after an initial wave of capitulation selling, followed by a multi-month consolidation period that exhausts the remaining holders. Separately, Yves Renno, Head of Trading at Wirex, said that with fading expectations for the passage of the U.S. Clarity Act this year, the market is now focused on the Fed's FOMC meeting on June 16-17. He stated that depending on the tone of remarks from Fed Chairman Kevin Warsh, Bitcoin could either rebound to the $68,000-$72,000 range or fall below $60,000.

On-chain analyst Ali Martinez noted on X that the Delta Price indicator, which has accurately predicted past Ethereum (ETH) bottoms, is currently near the $700 level. Developed by crypto analytics firm Alphractal, the metric reflects the relationship between the average investor's entry price and miners' production costs, though its relevance for ETH has been debated since the network's transition to Proof-of-Stake (PoS). Martinez added that if history repeats, ETH could retest $700 before its next uptrend.

The SaharaAI (SAHARA) team has reiterated that no team or investor holdings were sold during the token's recent sharp price drop. The team stated that allocated tokens for the team and investors remain untouched on-chain. They also confirmed that market makers Amber Group and Hering Global were operating normally during the crash, the token's smart contract showed no signs of an attack, and token custody remains under the foundation's control. Addressing community speculation, the team explained that on-chain transfers before the drop were scheduled to provide liquidity for a cross-chain bridge to the BNB Chain. They attributed the crash to a cascade of liquidations driven by futures selling pressure, noting that leveraged long positions had accumulated to an all-time high in the three weeks prior. The liquidation of these positions triggered further declines. On June 9, SAHARA crashed by approximately 46%, falling from around $0.03 to $0.013. Despite the team's explanation, SAHARA is trading at $0.01588, down 11.62% over the past 24 hours, according to CoinMarketCap.

U.S. Senator Cynthia Lummis has urged the United States to establish a legal framework for accumulating Bitcoin at a national level. She argued that while other countries are secretly stockpiling the cryptocurrency, the U.S. should do so publicly and based on established law.