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Zetachain (ZETA), an AI-focused interoperability Layer 1 blockchain, announced today the launch of a new service allowing users to access all major AI models for free by staking ZETA tokens. According to the announcement on its official X account, stakers will earn AI credits in addition to their existing token rewards. These credits can be redeemed on AnumaAI, an AI-dedicated private memory layer built on Zetachain 2.0. The platform provides access to paid models including ChatGPT, Claude, Gemini, and Grok, which ZETA stakers can use at no cost by spending their accumulated credits.

Russia's cryptocurrency regulation bill has been delayed beyond its scheduled implementation date, local media outlet Bits media reported. Alexei Yakovlev, director of the Financial Policy Department at the Russian Ministry of Finance, stated that the bill is awaiting its second reading but faces a delay. He added that the State Duma's Financial Market Committee plans to review the bill in the coming weeks, making it virtually impossible for it to pass before July 1. The Russian Central Bank had initially planned to finalize detailed regulations in the third quarter and allow crypto trading under the new rules from the fourth quarter. The new framework is designed to regulate cryptocurrency transactions at the same level as bank transfers.

OKX announced it will list CARDS for spot trading at 1:00 p.m. UTC on June 25.

A whale holding a 120,000 ETH long position is currently facing an unrealized loss of $77.04 million, according to ai_9684xtpa. The liquidation prices for the four addresses associated with this whale are $1,174.6, $1,059.1, $1,064.7, and $1,143.6, respectively, with an average entry price of approximately $2,265.

South Korean crypto exchange Upbit has been cleared of any wrongdoing in an investigation into its order book sharing practices, unlike rival Bithumb, which was fined 210 million won (about $152,000) for violations. An official from South Korea's Personal Information Protection Commission (PIPC) told local media outlet Digital Asset today that an investigation into Upbit found no violations of regulations concerning the overseas transfer of personal information. The PIPC had previously announced the fine against Bithumb for transferring user data abroad without consent.

Jiang Zhuoer, founder of the Chinese Bitcoin mining pool BTC.top, predicted that the current BTC bear market will bottom out in the fourth quarter of this year in the $42,000 to $44,000 range. He noted that MicroStrategy's (Nasdaq: MSTR) modified net asset value ratio (mNAV) has fallen to 0.72, approaching the 0.7 level seen at the bear market low in May 2022. Considering this and other recent factors, Jiang believes the mNAV has entered its bottoming zone for this cycle. According to Jiang, the mNAV is a leading indicator that typically precedes BTC price bottoms by about six months. Applying a four-year cycle and volatility reduction model, he suggested that BTC is highly likely to hit its low in the low $40,000s between October and December. He added that his current short-term strategy involves maintaining spot sells and short positions, with plans to switch to spot buys and long positions after the expected bottom is reached.

U.S. demand for Bitcoin has been absent for 46 days, according to crypto analyst Ali Martinez. He noted on X that the Coinbase Premium Index has remained in negative territory for 46 consecutive days since mid-May, suggesting that buying pressure from U.S. investors is exhausted. Martinez added that this trend coincides with the recent multi-week streak of net outflows from spot BTC ETFs. He explained that U.S. institutional investors are likely to maintain a wait-and-see approach until macroeconomic uncertainties are resolved before they resume accumulation.

The cryptocurrency exchange CoinEx, which has Chinese roots, has served as a key channel for Iran's crypto transactions and fund movements, The Wall Street Journal (WSJ) reported, citing data from blockchain analytics firm TRM Labs. According to the report, over $3.84 billion (approximately 6 trillion won) has moved through CoinEx from wallets linked to Iran since 2019. CoinEx wallets were found to have transacted with hacked funds previously held by Iran's central bank and also had direct dealings with wallets the U.S. government has identified as being connected to the Islamic Revolutionary Guard Corps (IRGC). In 2024, transaction volume between CoinEx and Nobitex, Iran's largest crypto exchange, exceeded $763 million, establishing CoinEx as Nobitex's primary overseas exchange partner over Binance. In response, CoinEx founder Haipo Yang stated that while it was true the exchange had many Iranian users, it has no relationship with the Iranian government. He added that CoinEx is now taking measures to distance itself from the Iranian market, such as blocking new sign-ups from Iranian IP addresses.

South Korean crypto exchange Bithumb has been fined 210 million won (around $151,000) for transferring user personal data overseas without proper consent, NoCut News reported. According to an investigation by South Korea's Personal Information Protection Commission, Bithumb shared its Tether (USDT) market order book with an overseas exchange from September to November last year. During this period, the exchange obtained user consent to transfer personal data to a platform it identified as Stellar Exchange, but it was revealed that member numbers and order information were actually sent to a system operated by a different exchange. Additionally, Bithumb provided the personal information of senders and recipients—including names, wallet addresses, and dates of birth—to 13 overseas exchanges for anti-money laundering purposes when processing user virtual asset transfers.

CoinMarketCap's Altcoin Season Index is currently at 45. The index compares the price performance of the top 100 coins, excluding stablecoins and wrapped tokens, to that of Bitcoin over the last 90 days. The platform considers it an altcoin season when 75% of these top coins outperform Bitcoin during this period, while the opposite scenario is deemed a Bitcoin season. A score closer to 100 signifies a stronger altcoin season.

Ripple has announced the official launch of its stablecoin, RLUSD, in Japan in partnership with SBI Holdings and its subsidiary, SBI VC Trade. RLUSD has been approved by Japan's Financial Services Agency (JFSA) and is classified as an electronic payment instrument for foreign-issued stablecoins under the country's Payment Services Act. Jack McDonald, SVP of Stablecoins at Ripple, said Japan has led the way in digital asset adoption due to its regulatory clarity and financial innovation. He added that RLUSD will serve to connect Japanese and global liquidity in payments, asset tokenization, and collateral management.

According to CoinNess monitoring, Magic Internet Money (MIM), the algorithmic stablecoin issued by the DeFi protocol Abracadabra (SPELL), has depegged, with its price falling to $0.49. This represents a drop of approximately 51% from its intended $1 peg.

Joe Burnett, a vice president at the Nasdaq-listed Strive (ASST), argued on X that MicroStrategy's (MSTR) Bitcoin treasury strategy is structurally different from the case of Terra's collapse. He explained that just before its failure, Terra had approximately $18.7 billion in UST in circulation, which was immediately redeemable, but was backed by only about $3.1 billion in BTC reserves. In contrast, Burnett stated that MicroStrategy currently holds about $51.5 billion in BTC against approximately $10.5 billion in liabilities, which are not structured for immediate redemption. He concluded that because the two cases are structurally completely different, a simple comparison is inappropriate.

M has fallen by 82.23% in the past five minutes on the COINNESS market. Currently, M is trading at $0.46.

M has fallen by 66.58% in the past five minutes on the COINNESS market. Currently, M is trading at $0.87.

An address believed to belong to Andean Medjedovic, the hacker who stole $48.8 million from KyberSwap, has deposited an additional 2,000 ETH into Tornado Cash, according to PeckShield. Over the past two years, the hacker has laundered a total of 16,100 ETH, worth $40 million. Tornado Cash is a crypto mixing protocol often used by hackers to launder stolen funds.

Sonic (S), an EVM-compatible Layer 1 blockchain, announced on X that it has decided not to proceed with its planned additional S token issuance for this year. The project explained that its tokenomics were designed to issue 47.625 million new S tokens annually, worth approximately $950,000 at current prices, to foster ecosystem growth. The first such issuance occurred on June 18 of last year. However, Sonic stated it is now actively working to prevent the token supply from expanding in an inflationary manner and is still reviewing how to fund validator rewards for network security. The decision was made in response to requests from its community and stakeholders. According to CoinMarketCap, S is trading at $0.02096, down 12.01% over the past 24 hours.

Approximately 69% of tokens issued on the Solana-based memecoin platform Pump.fun (PUMP) stopped trading on their launch day, CryptoPotato reported, citing data from CoinGecko. The analysis, which surveyed 18.67 million tokens launched on Pump.fun, found that about 12.8 million recorded their last trade on the day of their release. Only 850,000 tokens, representing just 4.55% of the total, remained active for 90 days. The outlet added that the broader memecoin market is in a slump, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all having dropped more than 20% over the past month.

The following is an analysis of the Spot Cumulative Volume Delta (CVD) chart for the BTC/USDT spot pair as of 12:00 a.m. UTC on June 25. The chart's top section displays a Volume Heatmap, while the bottom shows the CVD. - The Volume Heatmap tracks the volume of trades at specific price levels. The background color brightens when the price remains in a certain range for an extended period or experiences significant movement. These brighter areas may act as potential support or resistance levels. - The 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-scale orders from $1 million to $10 million.

The Crypto Fear & Greed Index, an estimate from data provider CoinMarketCap, has fallen two points from yesterday to 18, shifting from the "Fear" stage to "Extreme Fear." The index gauges market sentiment on a scale where 0 signifies extreme fear and 100 indicates extreme optimism. CoinMarketCap calculates the index based on factors such as the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives data including the put/call ratio, the Stablecoin Supply Ratio (SSR), and its own search data.

The prediction market Polymarket gives South Korea a 59% chance of winning its upcoming World Cup Group A match against South Africa, scheduled for 1:00 a.m. UTC on June 25. The odds of a South African victory are estimated at 17%, with a 26% chance of a draw. The total trading volume on this prediction has reached $4.7 million. South Korea currently sits in second place in the group with one win and one loss for three points. A win or a draw in this final group stage match would secure its second-place position, setting up a match against a team from Group B. However, a loss would drop the team to third place, resulting in a tougher matchup against the winner of either Group E (Germany) or Group G.

A shareholder vote on the proposed merger between Adam Back's Bitcoin treasury company, Bitcoin Standard Treasury (BSTR), and Cantor Equity Partners I has been postponed to July 2, The Block reported. Upon completion of the merger, BSTR is scheduled to be listed on Nasdaq and will launch as a Bitcoin treasury company holding 30,021 BTC.

The U.S. House Financial Services Committee held a hearing on allowing cryptocurrency and fintech companies direct access to the Federal Reserve's payment system, The Block reported. The discussion centered on the potential introduction of a so-called 'Skinny Master Account,' which would grant limited, direct access to certain financial institutions, including crypto-native banks. Republican Congressman Dan Meuser stated that access to the Fed's payment system is a critical issue, emphasizing the need for careful consideration regarding who should be granted direct access to this key infrastructure.

Bitcoin (BTC) mining profitability is steadily deteriorating, intensifying margin pressure on mining companies, according to an analysis by The Block. The outlet noted that daily revenue for BTC miners, based on a seven-day moving average, is currently around $30 million, a significant drop from over $50 million recorded last summer. Revenue from transaction fees is less than $250,000, making its contribution to mining profits negligible. While BTC is trading at $61,000, JPMorgan estimates the cost of production to be approximately $78,000. Bitcoin's price has remained below its mining cost for five consecutive months, setting a new record for the current cycle. An estimated 20% of all mining operations are currently running at a loss. To cover operational expenses, publicly traded mining firms sold more than 32,000 BTC, valued at roughly $2 billion at current prices, in the first quarter alone. With the next halving approximately two years away, any recovery in mining revenue is likely to depend heavily on a rise in BTC's price rather than on transaction fees, The Block concluded.

On-chain yield infrastructure startup Ground has raised $3.6 million in a pre-seed funding round, The Block reported. The round was co-led by Bain Capital Crypto and ParaFi, with participation from Nascent, Robot Ventures, Chapter One, and Consonant Ventures. The specific use of the funds was not disclosed.