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Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has stated that it may only be a matter of time before Tether (USDT) surpasses Bitcoin. In a post on X, he said that Tether is likely to become the world's largest cryptocurrency, adding that the dominance of dollar-pegged stablecoins is reshaping the entire crypto ecosystem. McGlone noted that Tether is a stablecoin pegged to the U.S. dollar and questioned what could stop the spread of tokenization in an environment where tokens tracking real-world, income-generating assets coexist with numerous cryptocurrencies that track nothing yet hold billions in value. He emphasized that the market is currently in a cleansing stage and believes Bitcoin could crash to $10,000 during this period. McGlone also pointed to Tether's previous overtaking of Ethereum's market capitalization, suggesting this trend could continue.

South Korean crypto exchange Bithumb has announced the temporary suspension of deposits and withdrawals for 28 assets on the Base (BASE) network, citing an issue with the mainnet. The affected assets are as follows: - Aerodrome Finance (AERO) - Avantis (AVNT) - AWE (AWE) - B3 (B3) - Brett (BRETT) - Chainbased Token (C) - CARV (CARV) - Citrea (CTR) - Definitive (EDGE) - Hey Elsa (ELSA) - FLOCK (FLOCK) - GoPlus (GPS) - DeFine App (HOME) - Kaito (KAITO) - MIRA (MIRA) - OpenGradient (OPG) - Wayfinder (PROMPT) - Recall (RECALL) - Sapien (SAPIEN) - SIGN (SIGN) - Theoric (THQ) - Toshi (TOSHI) - Towns (TOWNS) - Intuition (TRUST) - Superform (UP) - Virtuals Protocol (VIRTUAL) - Venice Token (VVV) - Zora (ZORA)

Coinbase's Layer 2 network, Base, has experienced another block production issue, its second in two days. According to Base Status, the mainnet encountered problems with block production at around 3:30 p.m. UTC on June 26, leading to a temporary chain suspension. Base later announced that block production had resumed and the issue was resolved as of 4:11 p.m. UTC. The network also suspended mainnet operations the previous day for a similar issue, with that outage lasting for about two hours before being resolved.

Binance CEO Richard Teng announced via X that the company will donate $3 million in USDT to support its users in the earthquake-affected regions of Venezuela. He added that for a limited time, all P2P fees and Binance Pay merchant fees will also be waived.

Nasdaq-listed sports betting company DraftKings has launched its own prediction market trading platform, DKeX. The platform operates on technology and licenses acquired through DraftKings' acquisition of Railbird, a Designated Contract Market regulated by the U.S. Commodity Futures Trading Commission (CFTC).

According to The Wall Street Journal, two U.S. senators have sent a letter to the chairman of the Commodity Futures Trading Commission (CFTC) urging an investigation into Polymarket. The senators expressed deep concern over previous reports of the platform's deceptive marketing practices, emphasizing the need for an immediate review.

Whale Alert reported that 3,968 BTC has been transferred from Coinbase Institutional to an unknown new wallet. The transaction is valued at about $239 million.

U.S. President Donald Trump stated on June 26 that Iran launched at least four one-way attack drones at a ship transiting the Strait of Hormuz. He said one drone struck the upper deck of a large, high-value cargo vessel, causing damage, but the ship was able to continue its journey. The other three drones were shot down, he added. Trump criticized the act as a "foolish violation" of a ceasefire agreement.

More than 60 cryptocurrency projects have shut down so far this year, with the number continuing to grow, Wu Blockchain reported, citing data from Web3 platform RootData. The top three defunct projects by investment amount were all backed by Andreessen Horowitz (a16z): Yupp ($33 million), Syndicate ($27.8 million), and Entropy ($26.95 million).

Minneapolis Federal Reserve Bank President Neel Kashkari said he expects one interest rate hike in 2026 and projects that rates will remain at their current level in 2027.

Real-world asset (RWA) tokenization platform Securitize plans to raise $400 million ahead of its initial public offering (IPO), CoinDesk reported. The company is pursuing the IPO through a merger with Cantor Equity Partners II (Nasdaq: CEPT), a special purpose acquisition company (SPAC) affiliated with Cantor Fitzgerald. The transaction is expected to close on July 1, following shareholder approval and the fulfillment of other customary closing conditions on June 29. The combined entity plans to begin trading on the New York Stock Exchange (NYSE) under the ticker SECZ on July 2.

Neel Kashkari, president of the Minneapolis Federal Reserve Bank, said that rising inflation is not solely attributable to oil prices and factors in the Middle East.

A whale investor who held Ethereum for eight years has closed out the position, selling the remaining 20,000 ETH about 30 minutes ago, according to on-chain analyst EmberCN. The move is estimated to have netted a profit of $27.53 million. The address sold a total of 37,598 ETH today at an average price of $1,561, compared to a purchase price of $829 eight years ago.

Jeremy Grantham, co-founder of major Wall Street asset management firm GMO, told CNBC that Bitcoin will slowly fade away over years or decades rather than collapsing suddenly. He described the cryptocurrency as a useless, speculative asset with no intrinsic value and not a stable form of value. Grantham pointed out that its price was cut in half for no particular reason even during an economic boom, whereas gold maintained a solid upward trend over the same period despite falling from its peak. He argued that Bitcoin has failed to prove its usefulness even for speculation and offers no practical utility, noting that people do not use it to buy dinner or pay for groceries. The only thing Bitcoin does, Grantham asserted, is help criminals move money around.

Prediction market platform Kalshi announced on social media that it has entered into an official partnership with the FIFA World Cup.

According to Lookonchain, a whale who profited $4.4 million three days ago from shorting BTC, ETH, and SOL has re-established short positions. The investor reportedly used 20x leverage to open new shorts on 912.9 BTC, valued at $54.55 million, and 10,025 ETH, worth $15.65 million.

SATA, the preferred stock of corporate Bitcoin buyer Strive (ASST), has hit an all-time low of $79.01.

Solana-based DEX aggregator Jupiter announced it will support trading for the Roundhill Memory ETF (DRAM). The ETF invests in global memory semiconductor companies, including Samsung Electronics, SK Hynix, Micron, and SanDisk.

According to CoinNess market monitoring, BTC has risen above $60,000. BTC is trading at $60,048.93 on the Binance USDT market.

DeFi lending protocol Aave announced it will expand into the real-world asset (RWA) lending market, including tokenized stocks, through its upcoming Aave V4. The protocol explained that with its on-chain model, users can deposit tokenized shares of companies like Apple (AAPL) and Tesla (TSLA) as either collateral or lendable assets to directly earn lending revenue. Aave contrasted this with traditional brokerages such as Robinhood and Charles Schwab, which it said take 50-85% of the fees generated from lending out customer stocks, paying only a fraction to the users themselves.

The three major U.S. stock indices opened lower today. - Dow Jones Industrial Average: -0.44% - S&P 500: -0.67% - Nasdaq: -1.1% Major tech stocks showed mixed performance. Micron Technology (MU) plunged 6% and SpaceX (SPCX) fell 1.8%, while Apple (AAPL) edged up 0.1%.

According to HyperInsight, a 25x leveraged Ethereum (ETH) long position held by Jeffrey Huang, a well-known Taiwanese singer also known as Machi Big Brother, has been partially liquidated again amid the recent market downturn. The account's cumulative losses have now reached $33.85 million, with $2.43 million lost in the past month. Approximately $970,000 remains in the ETH long position, which has an average entry price of $1,565.38 and a liquidation price of $1,504.69.

According to CoinNess market monitoring, BTC has fallen below $59,000. BTC is trading at $58,989.84 on the Binance USDT market.

The Australian Securities and Investments Commission (ASIC) has announced a three-month extension of its transitional relief period for digital asset operators, moving the deadline to obtain a license from June 30 to Sept. 30. This measure applies to businesses applying for an Australian Financial Services (AFS) license and for authorizations related to market and clearing and settlement facilities. ASIC also clarified that the relief extends to digital asset businesses operating as authorized representatives or through intermediary arrangements with licensed entities.

Spain's financial regulator, the National Securities Market Commission (CNMV), will not extend the deadline or grant exceptions for obtaining a license under the European Union's Markets in Crypto-Assets (MiCA) regulation, Reuters reported. CNMV Chairman Carlos San Basilio stated that there will be no extensions or exemptions for crypto companies that fail to secure a MiCA license by the end of June. He added that the regulator is in close consultation with unauthorized firms to ensure an orderly wind-down of their operations.