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Avalanche Treasury Co., a virtual asset financial management platform within the Avalanche ecosystem, is set to list on the U.S. Nasdaq under the ticker "AVAT" through a $675 million special-purpose acquisition company (SPAC) merger, Unfolded reported. In partnership with the Avalanche Foundation, the new entity holds 15 million AVAX, equivalent to 3.5% of the circulating supply. The company plans to actively invest these assets in the ecosystem's staking, infrastructure, and applications, rather than simply holding the tokens.

Coinbase has announced a partnership with global payments platform MassPay to integrate its cross-border stablecoin payment infrastructure for businesses. Companies using MassPay can now leverage Coinbase's payment API to convert U.S. dollars (USD) to USDC and execute real-time, on-chain payments globally without needing to build separate virtual asset infrastructure.

On-chain analytics platform Bubblemaps has revealed that 95% of the total supply of the FIFA World Cup-themed token WCUP, which launched yesterday, was pre-purchased by a single group. The token's market capitalization surged to $50 million amid promotions by numerous crypto influencers who allegedly failed to disclose they were paid, sparking the first major scam allegations tied to the event. According to Bubblemaps' tracking, over 30 new wallets with no prior activity were created 30 minutes before WCUP's launch. These wallets were funded nearly simultaneously from a centralized exchange and then used to "snipe," or pre-emptively acquire, 95% of the token supply at launch. The group then attempted to evade on-chain tracking by using Uniswap Router commands to distribute the tokens across more than 2,500 separate new wallets. However, the entire purchasing network was identified using time-node analysis technology. Bubblemaps noted that while no direct on-chain link to the development team was found, the fact that such a large portion of the supply is controlled by a single entity is sufficient evidence of fraudulent intent.

MicroStrategy founder Michael Saylor said that fierce competition among altcoins is weakening the monetary premium they once held. According to ChainCatcher, he emphasized that the future value of altcoins will be determined by their actual utility, not their monetary properties. Saylor added that the competitive landscape is diversifying, citing the intensifying battle for dominance between Ethereum, Solana, and BNB, the collapse of Sui's narrative as the "next Solana," and the shift in market interest toward Hyperliquid.

According to Shayan Markets, an analyst at CryptoPotato, Bitcoin is holding near the psychological support level of $60,000 on the daily chart, preventing a further collapse, but its recovery is weak and lacks bullish momentum. The analyst stated that any rebound is merely a temporary correction within a downtrend until Bitcoin reclaims its previous support levels of $65,000-$66,500 and $72,000-$74,000. Failure to overcome these resistance levels in the short term could lead to a retest of the $60,000 support or a further decline below it. A bearish continuation signal has also been identified on the four-hour chart. After a sharp drop from above $73,000, Bitcoin found support in the $59,000-$62,000 demand zone and attempted a short-term rebound, forming a rising wedge pattern. This pattern is typically considered a classic bearish continuation signal when it appears after a strong downtrend.

The Bitcoin network is poised for one of the largest downward mining difficulty adjustments in its history as miners exit en masse due to worsening profitability from stagnant prices, U.Today reported. The upcoming change is expected to be the 11th largest downward adjustment in the cryptocurrency's history.

A lobbying group representing small and medium-sized regional banks in the U.S. has launched a public advertising campaign to block certain provisions in a stablecoin bill being advanced in the Senate. The campaign aims to reverse a proposed easing of regulations on 'rewards,' a change influenced by the crypto industry that would allow for indirect interest payments to stablecoin holders. According to The Block, the Independent Community Bankers of America (ICBA) announced in a statement that its new campaign targets a compromise provision within the Clarity Act, which is under review by the Senate Banking Committee. Traditional banks fear that allowing users to deposit stablecoins and earn rewards could lead to a mass exodus of retail deposits from the banking system into the crypto market, destabilizing regional finance.

Two major U.S. banking interest groups are urging regulators to address supervisory gaps in the secondary market for stablecoins as part of any new Anti-Money Laundering (AML) framework. The move represents a counter-push from the traditional finance sector, following concerns from the crypto industry that excessive regulation could stifle the DeFi ecosystem. According to Decrypt, the Bank Policy Institute (BPI) and The Clearing House submitted a joint comment letter to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC). In the letter, the groups argued that most illicit financial activity involving stablecoins occurs in the secondary market after the tokens leave the issuer. They pointed out that the current system fails to impose sufficient obligations on DeFi firms, certain digital asset custodians, and exchanges. The organizations stressed that regulators should focus on closing these regulatory loopholes rather than relying on a formal, checklist-based approach to compliance.

Polish President Karol Nawrocki has vetoed for the third time a bill that would have regulated the country's virtual asset market and implemented the European Union's Markets in Crypto-Assets (MiCA) framework, Reuters reported. The Polish parliament passed the legislation last May following a debate over the level of supervision amid a deepening bankruptcy crisis at the nation's largest cryptocurrency exchange. However, the president rejected the bill again, stating that his previous requests for amendments had not been incorporated, thereby preventing it from becoming law.

EIP-8182, a proposal to introduce native privacy transfers on Ethereum (ETH), has been included as a candidate for the Hegotá hard fork upgrade, according to its proposer, Tom Lehman.

NEAR Protocol (NEAR) has launched a new incentive program, 'NEAR@3.33,' which is linked to network growth and price targets, and has unveiled plans for its first token distribution, dubbed "Drop 1." The initiative aims to test an incentive structure designed to overcome the limitations of traditional airdrops, where rewards often lead to large-scale sell-offs immediately after distribution, causing projects to lose momentum. The core of the program is that rewards are activated only when the ecosystem achieves specific milestones. Participants will receive locked 'milestone tokens' that cannot be traded immediately. These tokens will become convertible to NEAR on a one-to-one basis only after the protocol's liquidity and price meet certain conditions.

Global research and brokerage firm Bernstein has projected that the 2026 World Cup will be the biggest catalyst for growth in the history of prediction markets. According to The Block, Bernstein analysts predict the event will attract over $3 billion in new betting volume and drive a surge of $5 billion to $10 billion in prediction market trading volume. Bernstein noted that the expanded 48-country tournament will feature 104 matches, creating about 60% more inventory than previous events. The analysis highlights that since the tournament takes place in June and July—historically an off-season for online sports betting—it will serve as a watershed moment, proving that prediction markets have entered a permanent growth trajectory beyond election cycles or specific political contracts.

Trading volume for U.S. spot Bitcoin ETFs has plummeted 78% since last October, signaling a significant contraction in speculative demand from traditional financial markets. According to Glassnode, the 30-day moving average of daily trading volume for these funds has dropped from $4.4 billion in October to its current level of $960 million.

A bipartisan bill has been introduced in the U.S. House of Representatives to create a government-wide task force for combating cryptocurrency hacking and fraud, CoinDesk reported. Co-sponsored by Republican Rep. Lance Gooden of the House Judiciary Committee and Democratic Rep. Josh Gottheimer of the Financial Services Committee, the legislation would establish the Federal Cryptocurrency Theft Task Force. According to the bill, the task force would be led by the U.S. Attorney General and include the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), the Department of Homeland Security (DHS), and the Treasury Department. It would serve as a central hub for preventing and investigating crypto-related theft. The sponsors noted that while U.S. crypto fraud and theft losses amounted to $11 billion last year, victims lacked a single, unified channel to seek help.

The total daily trading volume for major publicly listed companies holding Bitcoin (BTC), based on the 30-day simple moving average, has plummeted by 49% in about six months, falling from $34.2 billion last December to $17.4 billion, Glassnode reported. The analytics firm explained that as Bitcoin's spot price has recently undergone a correction, investor demand seeking leverage through these companies' stocks has also contracted. As a result, related trading activity has been cut in half from its peak.

Major global financial institutions are accelerating their adoption of asset tokenization to enhance capital efficiency and liquidity, Cointelegraph reported. Speaking at the WAIB Summit 2026 panel discussion in Monaco, Rafael Mastroberardino, head of digital asset partnership development at Franklin Templeton, stated that tokenization provides institutions with more options and flexibility. He added that these advancements are driving banks and large corporations to launch tokenized products. Julien Clausse, head of the tokenization platform at BNP Paribas CIB, also explained that placing multiple assets on the same blockchain to interact could unlock new institutional use cases.

Binance has announced the launch of spot trading and trading bot services for its bStocks token securities, which track the value of underlying shares from five companies: Micron, Circle, Nvidia, SanDisk, and Tesla. The tokens are matched 1:1 with the actual stocks and support both tokenization and redemption processes.

SpaceX plans to begin trading as a stock token on the Solana blockchain on the same day it lists on the Nasdaq, CoinDesk reported. The token, with the ticker SPCX, will be launched by Sunrise and Backpack Securities. It will be tradable 24/7 on Solana via personal wallets, even outside of Nasdaq's regular trading hours.

Cryptocurrency mining rig manufacturer Canaan increased its Bitcoin and Ethereum holdings to an all-time high in May, according to a PR Newswire press release. The company secured 90 BTC through its mining operations and received an additional 24 BTC from customer payments. As a result, Canaan now holds approximately 1,867 BTC and 3,952 ETH on its balance sheet.

The three major U.S. stock indices opened higher today. - S&P 500: +0.50% - Nasdaq: +0.50% - Dow Jones: +0.42%

Ripple has announced an expansion of its existing payment partnership with Bitso, a leading digital financial services company in Latin America. Under the collaboration, the XRP Ledger (XRPL) will support the issuance of Bitso's Mexican Peso (MXN)-pegged stablecoin, which will be utilized in the decentralized exchange (DEX)-based payment infrastructure Ripple is currently building. The MXN stablecoin, alongside Ripple's corporate U.S. dollar stablecoin RLUSD, is set to provide efficient liquidity and settlement for U.S.-Mexico remittances and cross-border business payments.

The U.S. Department of Justice announced it has shut down AudiA6, a cryptocurrency laundering service that processed over $389 million in illicit funds, following a joint investigation with global law enforcement agencies. Two key operators have been arrested and indicted, and an undisclosed amount of cryptocurrency assets has been frozen. The individuals are accused of being senior members of the AudiA6 organization, charging fees of up to 5% to conceal the criminal origins of funds and make them untraceable. Since the service launched in 2021, approximately 10,333 BTC, valued at around $389.74 million at the time of the transactions, was deposited into AudiA6 wallets. Of this total, at least 393.39 BTC (worth about $19.23 million at the time) came directly from illicit sources such as dark web markets, ransomware groups, and cybercrime services. Authorities also determined that a significant portion of the remaining funds originated from indirect illicit channels.

Nakamoto (NAKA), a Nasdaq-listed company that has been strategically accumulating Bitcoin, announced in a press release that it has sold 600 BTC and related derivatives to repay debt. The company now holds 4,467 BTC.

Real-world asset (RWA) tokenization platform Ondo Finance has hired John Hoffman to diversify its tokenized investment products. Hoffman joins the firm as Managing Director and Head of Product Portfolio. He previously served as a Managing Director at Grayscale, where he led the distribution and partnerships division for the digital asset fund manager. Before that, Hoffman spent nearly 20 years at Invesco, a $2.5 trillion asset management firm, heading its ETF and Index Strategy business for the Americas.

While outflows from BTC spot ETFs persist, their pace has slowed noticeably, suggesting that selling pressure is beginning to ease. In an interview with Decrypt, Adam Hames, head of asset management at Tesseract Group, noted that while selling pressure is not yet fully stabilized, it is gradually abating. He attributed the recent outflows primarily to two factors: funds unwinding arbitrage positions between BTC ETFs and futures, and a large-scale exit from the ETF product with the highest fees. Hames argued that these outflows are due to structural factors and are likely to resolve naturally over time. He stressed that it is difficult to conclude that overall market sentiment has completely collapsed, given that the recent capital flight is concentrated in specific ETFs while some others continue to see net inflows.