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Approximately 30% of Polymarket's total trading volume originates from the United States, despite a legal ban on its use by American residents, Wired reported. The report cites a study by Harry Crane, a statistics professor at Rutgers University, which estimates that U.S. users deposited between $10.6 billion and $26.7 billion on the platform from May 2025 to late April 2026. The study based its estimates on the concentration of American users in U.S.-centric markets, such as American elections and sports, and their distinct trading hours. Notably, half of all sports market trading was found to have been conducted from the U.S. If Polymarket maintains its current market share, U.S. trading volume is projected to reach $133 billion by 2030. U.S. users are reportedly circumventing the ban, which was implemented in 2022, by using VPNs to mask their location. Polymarket was prohibited in the U.S. in 2022 for operating an unregistered derivatives exchange. However, since December 2025, the company has been operating a separately licensed mobile app, "Polymarket US."

The cryptocurrency market is struggling to compete with the artificial intelligence (AI) boom for institutional capital, according to an analysis by Cointelegraph Market Research. The following are four key reasons why crypto is losing out to AI: - Performance gap. The S&P 500, excluding AI stocks, has risen only 3.5% this year. In contrast, an AI-focused index has surged nearly 50% over the same period. AI-related stocks have been the primary driver of the broader index's recent rally, leading the S&P 500 to 11 consecutive record-high closes in the past month. - Scale of investment in AI. U.S. Big Tech firms are projected to spend approximately $725 billion on AI infrastructure this year. Nvidia recently posted a single-quarter revenue of $81.6 billion, while memory chip maker SK Hynix is reporting a 72% profit margin, fueled by demand from Nvidia's supply chain. Institutional investors follow performance, and cryptocurrency is not currently delivering comparable results. - Valuation challenges. AI infrastructure spending can be easily verified through metrics like revenue, capital expenditures (CAPEX), and profit margins. In contrast, the value of cryptocurrencies is difficult for traditional institutions managing benchmark portfolios to quantify. While the stablecoin supply has reached an all-time high, indicating peak dollar liquidity within the digital asset ecosystem, these funds are largely remaining in tokenized U.S. Treasurys for stable returns rather than flowing into crypto. Liquidity exists, but conviction to invest in risk assets is lacking. - Timing and the identity of sellers. U.S. spot Bitcoin ETFs recorded $2.3 billion in net outflows last month, marking their worst monthly performance this year. This included a 10-day streak of net outflows that coincided with the rally in AI-related stocks. This selling pressure was concentrated among large institutional funds rather than being widespread across the market. Long-term holders continue to accumulate quietly off-exchange. Major crypto market maker Wintermute revealed it has been buying over-the-counter (OTC) around the $72,000 level. This suggests investors have not abandoned crypto, but that large-scale capital is currently opting for what it perceives as clearer investment opportunities.

Aptos announced that it permanently burned 187,800 APT in May. The cumulative amount of APT burned since the mainnet launch has now reached 1.2 million. The total supply of APT is currently set at 2.1 billion.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $77.49 million liquidated (85.49% shorts) - ETH: $64.57 million liquidated (57.52% shorts) - VELVET: $10.72 million liquidated (71.63% shorts)

Kbank, the banking partner for South Korean crypto exchange Upbit, is considering joining a won-denominated stablecoin consortium led by Hana Financial Group, Money Today Broadcasting reported. The outlet noted that while Kbank's largest shareholder is BC Card, a KT affiliate, rival SK Telecom is also a member of the Hana-led consortium. Despite initial speculation that this competitive dynamic could complicate Kbank's participation, the prevailing view within the consortium is reportedly to treat the interests of the two telecom giants as separate matters.

U.S. spot Bitcoin ETFs recorded approximately $52.8 million in net outflows on June 11, according to a preliminary tally by Farside Investors. However, the final net flow figure will be confirmed after data from BlackRock's IBIT is included. Invesco's BTCO, Franklin Templeton's EZBC, Valkyrie's BRRR, WisdomTree's BTCW, and Grayscale's GBTC all recorded zero net flows. - Fidelity FBTC: -$5.5 million - Bitwise BITB: -$13.1 million - Ark ARKB: -$27.2 million - VanEck HODL: -$14.8 million - Morgan Stanley MSBT: +$2.2 million - Grayscale Mini BTC: +$5.6 million Note: This article has been corrected to show a net outflow. We had initially reported a net inflow based on data from another source but have since updated the figures to align with Farside Investors' tally. We apologize for any confusion.

Bitcoin Core, a Bitcoin full-node client, announced on X that its developers have discovered a privacy bug in the recently released v31.0. The bug could expose the IP address of the user who first broadcast a transaction to the receiving node under certain network conditions. A fix is currently in progress, and the patch is scheduled to be deployed in the next version, v31.1.

Whale Alert reported that 200,000,000 USDC has been transferred from Binance to an unknown wallet. The transaction is valued at about $200 million.

Anthony Pompliano, CEO of ProCap Financial (BRR), has clarified what he calls a major misunderstanding about his firm. In a post on X, he stated that ProCap Financial is not a Bitcoin company but rather an AI company that holds Bitcoin on its balance sheet. Pompliano described this as a small but crucial distinction, adding that its importance will become more apparent over time.

The Altcoin Season Index from crypto data platform CoinMarketCap has risen two 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 when 75% of these top coins have outperformed Bitcoin over the past 90 days. A score closer to 100 indicates a stronger trend toward an altcoin season.

MicroStrategy founder Michael Saylor stated that the company will sell its Bitcoin holdings if necessary, clarifying that his previous advice to 'never sell' was intended for individual investors, not the corporation. Speaking at a Bitcoin event in Prague, Saylor explained that he has never claimed the company would not sell its BTC. He emphasized that one cannot bankrupt a $100 billion company and that this position has been clearly communicated in company earnings calls and filings for the past five years. The clarification, captured in a video posted on X by JAN3 CTO Alex Bragin, came in response to social media users who criticized Saylor for seemingly contradicting his own advice. Earlier this month, MicroStrategy sold 32 BTC at an average price of $77,135. Fortune magazine has also suggested that the company might be compelled to sell more BTC if the burden of its preferred stock dividends increases.

Ethena (ENA) announced on X that it has partnered with Coinbase to launch a high-yield vault based on USDe. The product is a stablecoin yield vault provided by SteakhouseFi that utilizes MORPHO-based USDe. It is directly integrated into the Coinbase app and is available to global users, including those in the United States.

A suspected FTX/Alameda address unstaked 200,000 SOL ($13.01 million) five hours ago, subsequently splitting the deposit between Coinbase and Binance, AmberCN reported. Since November 2023, the address has withdrawn a total of 10.75 million SOL ($1.407 billion) through similar transactions. The FTX/Alameda staking address currently holds a remaining balance of 2,985,000 SOL, valued at around $200 million.

Fidelity has adopted Uniswap (UNI) as the liquidity layer for its proprietary stablecoin, FIDD. A pool for FIDD is now live and operating on the decentralized exchange.

Alex Thorn, head of research at Galaxy Digital, has commented that proposed amendments to U.S. Securities and Exchange Commission (SEC) market regulations could foster growth in the stock token market. He explained on X that current rules are a key obstacle to DeFi-based stock token trading. Thorn believes that if the SEC's proposal to repeal these regulations is adopted, it will become easier to trade stock tokens using automated market makers (AMMs). According to Thorn, the SEC has proposed repealing Rule 611, the Order Protection Rule, and Rule 610(e), which restricts locked and crossed markets.

Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has expressed his intent to bring crypto perpetual futures trading into the regulated U.S. market rather than leaving it to overseas exchanges. In a post on X, Selig stated that the CFTC is working to introduce perpetual contracts to the U.S. under the highest level of regulation. He argued that popular financial products like perpetual futures should be available to the American public under the country's own laws and regulations. Selig claimed that the Biden administration had driven these products into jurisdictions with no investor protection, which he said led to incidents such as the collapse of FTX.

Jos Lazet, CEO of the Bitcoin-based financial platform Blockrise, has predicted that anti-establishment neobanks will be the next growth driver for the cryptocurrency industry, The Block reported. He stated that while current neobanks are merely improved versions of traditional banks, Bitcoin companies have an opportunity to build entirely new financial services centered on self-custody and asset control. Lazet added that he plans to develop Blockrise into a BTC-focused financial platform that encompasses lending, payments, and banking services.

KOSDAQ-listed company Parataxis Ethereum recently purchased an additional 398 ETH, bringing its total holdings to 9,399 ETH, Hans Kyungjae reported.

Bitcoin options with a notional value of $2.2 billion are set to expire at 8:00 a.m. UTC today, according to data from crypto options exchange Deribit. The batch has a put/call ratio of 0.69 and a max pain price of $67,000, the level at which the most option holders would see their contracts expire worthless. Additionally, Ethereum options worth $290 million will expire at the same time. These have a put/call ratio of 0.62 and a max pain price of $1,750.

According to cryptocurrency data provider CoinMarketCap, its proprietary 'Fear & Greed Index' has risen two points from yesterday to 16. The index remains in the 'Extreme Fear' category. The index indicates extreme market fear as it approaches zero and extreme optimism as it nears 100. The CoinMarketCap Fear & Greed Index is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data like the put-call ratio, the Stablecoin Supply Ratio (SSR), and CoinMarketCap's own search data.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom shows the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks trading volume at specific price levels. The background color brightens when the price lingers in a range or moves significantly, with these brighter areas potentially acting as support or resistance. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by size. As buy orders increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

Charles Hoskinson, founder of Cardano (ADA), announced he is pushing forward with a plan to move the Cardano community from X to Discord. Hoskinson stated on X that he has discussed the initiative with EMURGO CEO Phillip Pon to create a Discord channel for a major migration of the community. He said the goal is to operate a well-managed channel for practical conversation and progress, leaving behind what he described as unproductive drama, falsehoods, and endless anger. While Hoskinson, who has one million followers on X, will continue to hold live broadcasts on the platform, he added that "Ask Me Anything" (AMA) questions will only be accepted from the new Cardano and existing Midnight Discord channels. He emphasized that broadcasting does not signify his return to X, stating that substantive work is being done elsewhere. Hoskinson's announcement follows a sharp drop in ADA's price after he declared he was taking a break earlier this month. The token is currently trading at $0.1704, up 5.9% over the past 24 hours.

BlackRock has filed an 8-A securities registration form for its new iShares Bitcoin Premium Income ETF (BITA), according to Bloomberg ETF analyst Eric Balchunas. In a post on X, Balchunas noted that an 8-A filing is a procedural step that typically leads to a listing within a week. He added that the ETF could launch as early as June 18, but this remains to be seen.

South Korea's National Police Agency has launched its fourth bid for a custodian to manage seized virtual assets, but small and medium-sized firms are reluctant to participate, Edaily reported. According to a notice on the country's Public Procurement Service KONEPS system, the agency recently opened bidding for its "Seized Virtual Asset Storage and Management Project," with a deadline of June 24. The project's budget has been increased 3.2-fold to 267 million won from the previous 83 million won. However, critics argue that the bidding process is structured to favor large, won-denominated cryptocurrency exchanges. They point out that smaller custody providers find it difficult to meet stringent requirements, such as 100% full compensation and 24-hour real-time support, and that there are no bidding restrictions based on company size.

X (formerly Twitter) has added a "Big Charts" feature that allows users to view price charts for cryptocurrencies and stocks directly within their timelines, Watcher.Guru reported. The feature enables users to click on a crypto or stock ticker and see its price action and chart without being redirected to a separate page.