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The Korea Exchange (KRX) is moving to block a loophole that allows companies listed on the Kosdaq market via a special technology track to pivot their main business to activities like managing virtual asset treasuries, Digital Asset reported. The KRX announced today that it has amended its listing regulations as part of a broader effort to enhance market trust and innovation. Under the new rules, if a company listed through the special technology program changes its primary business purpose within five years of its initial public offering, it will be subject to a substantive delisting review. A change in business purpose is defined as an addition or alteration made to the company's articles of incorporation. The rule does not apply to changes involving businesses similar or ancillary to the company's original main operations.

Lorenzo Valente, Director of Crypto Research at Ark Invest, has argued that as cryptocurrency projects mature, they should prioritize attracting investment from traditional financial institutions over crypto-native venture capital. In a post on X, Valente stated that while crypto VCs are crucial in a project's early stages, the investor profile needs to change as the industry moves closer to traditional finance. He noted that asset managers, banks, and fintech firms are becoming increasingly important strategic partners. Citing MORPHO's recent funding round, which included participation from Apollo, VanEck, SBI, and Bpifrance, Valente explained that new projects can benefit from targeting the traditional market from the outset amid the growing trend of crypto's institutional adoption.

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $146.86 million liquidated (81.67% shorts) - ETH: $83.78 million liquidated (76.23% shorts) - TAIKO: $16.75 million liquidated (80.49% shorts)

The stock price of Avalanche Treasury Co., a crypto financial management platform in the Avalanche (AVAX) ecosystem, has plummeted 73% since its listing on June 11, The Block reported via X. The company disclosed in a filing that there are doubts about its ability to continue as a going concern.

Paolo Ardoino, CEO of USDT issuer Tether, described the European Union's Markets in Crypto-Assets (MiCA) regulation as "very dangerous for stablecoins," explaining why the company has not applied for a license. According to the crypto newsletter Coin Bureau, Ardoino stated that MiCA could force stablecoin issuers to hold 60% of their reserves in the form of deposits at small European banks, which would not be covered by depositor protection. He warned that these smaller banks could struggle to handle a sudden wave of requests from holders looking to convert their USDT into fiat currency. Ardoino added that MiCA was enacted without sufficient review and that the decision not to apply for a license was made to protect over 400 million users.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Stellar (XLM) and AQUA starting at 10:00 a.m. UTC on July 7 to support a network upgrade.

The cumulative top-up amount for cryptocurrency payment cards has surpassed $10 billion for the first time as of June, Cointelegraph reported, citing data from Paymentscan.xyz. This figure represents an 82% increase since the beginning of the year and a surge of around 250% year-over-year.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Songbird (SGB) starting at 8:00 a.m. UTC on July 7 to support an upcoming network upgrade.

Ark Invest, the U.S. asset manager led by Cathie Wood, purchased $18 million worth of Circle Internet Group (NYSE: CRCL) stock yesterday through its funds, The Block reported. Circle is the issuer of USDC, the world's second-largest stablecoin. The purchase came as CRCL's price fell to $61.95 yesterday. The stock has declined approximately 41% over the past month.

The Altcoin Season Index from crypto data aggregator CoinMarketCap has risen three 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 if 75% of these top coins outperform Bitcoin over the past 90 days. A score closer to 100 indicates a stronger altcoin season.

Pro-cryptocurrency U.S. Senator Cynthia Lummis has refuted criticism from Senator Elizabeth Warren regarding the Clarity Act. According to Cointelegraph, Lummis emphasized that the bill cannot create loopholes for illicit finance, highlighting that it already includes more than 16 safeguards against illicit funds. This comes after Warren previously criticized the bill, suggesting it could create such loopholes.

The combined monthly trading volume on prediction market platforms Kalshi and Polymarket surged 75% last month compared to the previous month, reaching approximately $45 billion, according to The Block.

The BTC bear market could end this month and transition into a bull market, according to Andre Dragosch, Head of Research for Europe at Bitwise. He noted that if semiconductor stocks rebound strongly from current levels, the U.S. Federal Reserve (Fed) might adopt a more dovish stance. While the market generally expects BTC to bottom out in October, Dragosch believes it is highly likely to form a low and rebound sooner.

U.S. President Donald Trump's earnings from his crypto-related businesses last year surpassed the annual net income of major publicly traded crypto companies in the U.S., Bloomberg reported. According to filings with the U.S. Office of Government Ethics, Trump earned at least $1.4 billion from these ventures in 2025. This figure exceeds the $1.26 billion net income of Coinbase, the most profitable U.S.-listed crypto firm. However, Bloomberg noted that Trump's profits largely stemmed from one-time sales of tokens and equity stakes rather than recurring operating income and were reported under different standards than Coinbase's accounting. On July 1, Trump said his profits were not a big deal and that he was already wealthy when elected, while avoiding reporters' questions about whether he had improperly used his office for personal gain. The White House has consistently denied any conflict of interest, maintaining that the president is not involved in the operation of his family's crypto businesses. CoinNess previously reported, citing Reuters, that Trump had earned $1.4 billion through cryptocurrency.

Blockchain investment firm ParaFi Capital purchased 56 million SKY, worth approximately $2.98 million, about an hour ago, AmberCN reported. The firm now holds a total of 126 million SKY, valued at $6.64 million.

The Solana (SOL) Foundation has announced the formal introduction of its on-chain governance system. Through this system, Solana network validators can now propose and vote on decisions related to protocol operations via Solana Governance Proposals (SGP). The SGP framework operates on-chain, allocating voting rights based on staked volume and verifying results through Merkle proofs. Validators with a minimum of 100,000 delegated SOL are eligible to register an SGP. The foundation clarified that unlike SGPs, SIMDs serve as technical proposals for protocol changes.

The Crypto Fear & Greed Index from data provider CoinMarketCap has risen two points from yesterday to 18, though it remains in the 'Extreme Fear' stage. The index measures market sentiment on a scale where 0 indicates extreme fear and 100 signifies extreme optimism. CoinMarketCap calculates the index 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-to-call ratio, the Stablecoin Supply Ratio (SSR), and CoinMarketCap's proprietary search data.

This is a spot Cumulative Volume Delta (CVD) chart analyzing the order book for the BTC/USDT spot pair. The top section displays a volume heatmap, while the bottom shows the CVD. - The volume heatmap at the top tracks the volume of trades at specific price levels. The background color brightens when the price consolidates in a range or makes a significant move. These brighter areas can potentially act as support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. A rising line indicates an increase in buy orders for that category. The yellow line tracks orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

According to CoinNess market monitoring, BTC has fallen below $60,000. BTC is trading at $59,984.87 on the Binance USDT market.

Decentralized exchange (DEX) aggregator 1inch (1INCH) announced via its official X account that it now supports trading stock tokens on the Robinhood Chain. The platform stated that the global asset market is moving on-chain and that it is participating as a launch day partner. The move follows the launch of the public mainnet for Robinhood Chain, an Arbitrum (ARB)-based Layer 2 network from the U.S. stock and crypto trading app Robinhood (Nasdaq: HOOD), as CoinNess reported yesterday.

Germany's largest bank, Deutsche Bank, believes tokenization technology could reshape the structure of financial markets by lowering banks' reserve requirements and increasing intraday repurchase agreement (Repo) transactions, Cointelegraph reported. Last year, Deutsche Bank announced plans to launch an early version of a real-world asset tokenization platform, stating at the time that the technology would bring new opportunities for individual investors, banks, and corporations.

A lack of a clear value narrative has been cited as one reason why Ethereum (ETH) has failed to break the $5,000 mark for five years. Ansgar Dietrichs, a former Ethereum Foundation researcher and current director at Ethlabs, stated on a recent podcast that he struggles to clearly explain the actual role ETH plays as an asset today. He added that one of Ethlabs' core goals is to provide a clear direction for what ETH is meant to be. Podcast host Laura Shin noted that the most surprising part of her conversation with Dietrichs was his open admission that ETH still lacks a clear value narrative, even as it has been unable to surpass $5,000 for five years.

According to CoinNess market monitoring, BTC has risen above $61,000. BTC is trading at $61,145.02 on the Binance USDT market.

Kwave Media (Nasdaq: KWM), a South Korean entertainment company listed on the U.S. Nasdaq, has sold its entire holding of approximately 88 BTC, according to BitcoinTreasuries.net. The sale was aimed at securing liquidity and repaying $6 million in debt. The move follows the company's declaration in May 2026 that it was abandoning its strategic Bitcoin accumulation plan, which it had announced last year.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added 134 cryptocurrency wallets linked to the terrorist group ISIS-K to its sanctions list, Chainalysis reported. This includes 131 Tron wallets and three Monero wallets. In a separate action, OFAC also sanctioned individuals associated with the Latin American criminal organization PCC for laundering illicit funds using cryptocurrency.