Crypto World
Crypto News, June 9: BTC USD at a Breaking Point as Trump “Proportionally” Strikes Iran, CPI Shock and SpaceX IPO Risks Mount
BTC USD faces major battles today as Iran tensions flare with Trump proportional strikes while hinting at a deal days away. CPI data will also drop today amid energy spikes. The escalation has already triggered over $400 million in liquidations, pressuring BTC USD at the $61,000 level. Then add SpaceX IPO oversubscription 2 days away.
After proportional strikes, Trump hinted at a potential deal “days away,” yet the Iran escalation sent BTC USD sliding from recent highs. Over $400 million in liquidations hit the market, with more than $300 million coming from long positions. The temporary calm from the earlier de-escalation fractured quickly.

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Beyond Trump Iran Escalation: Fractured BTC USD, SpaceX IPO Over-Hype
BTC USD now holds unstable ground at $61-62k as energy prices surge from the conflict, feeding macro fears. Total crypto market cap sits steady at $2.2T as Bitcoin dominance slides, but swings could come at any time.
SpaceX IPO emerges as the big “market test” for June 12. Tom Lee calls any pullback short-lived. According to him, the IPO success helps the bull market and does not signal a top. Chip sell-offs from fund reallocation ahead of the debut will draw buyers back in, he insists.
Following his comment, his firm, Bitmine, scooped 75k ETH worth $123 million from Kraken and FalconX in recent hours, lifting total ETH holdings to about 5.5 million.
Realistically, the SpaceX IPO could channel fresh capital into tech and crypto ecosystems. People peg the IPO as the next catalyst despite short-term selling pressure. BTC USD dipped to $61k as some raised funds for the oversubscribed debut, yet Lee sees it as bullish long-term. As of today, the oversubscription has reached a $250 billion for a company with a $75 billion valuation.
Discover: The best pre-launch token sales
Forecasting CPI Data Drops
CPI forecast points to +4.2 percent YoY for May, the highest in over three years, versus 4.2 percent in April. Energy spikes tied to the Trump and Iran conflict are blamed for the jump in gasoline and fuel oil. The drop itself lands at 12:30 UTC, with 70 percent odds of a Fed rate hike now baked in.
BTC USD holds $61-62k pre-CPI in pure speculation mode, but historical patterns show a 9 percent pre-CPI pump is fading on release. Hot data risks a $60k test while cooler figures open $65k. Not just the U.S. CPI drops; Japan’s hot PPI adds yen carry-trade pressure, heightening the impact on crypto.
On the adoption front, Kraken has been named the official crypto exchange of the FIFA World Cup 2026, while Anthony Scaramucci stays a long-term BTC believer, predicting recovery by Q4 2026 or Q1 2027.
Crypto tax bills face House Committee pushback, offering potential relief for digital assets. Despite near-term fears from Iran, friction, looming CPI data, and SpaceX’s IPO reallocation, BTC USD has not fundamentally changed, nor has crypto. Institutional accumulation and a bullish stance on the SpaceX IPO bring confidence to the fragile market.
Geopolitical scare remains temporary while adoption milestones accelerate legitimacy. Cooler CPI could bring a liquidity relief rally, pushing BTC USD toward $65k as higher-for-longer fears ease. SpaceX IPO success would strengthen bull market narratives, drawing capital that likely flows into crypto.
The path forward looks bullish.
Discover: The best crypto to diversify your portfolio with
The post Crypto News, June 9: BTC USD at a Breaking Point as Trump “Proportionally” Strikes Iran, CPI Shock and SpaceX IPO Risks Mount appeared first on Cryptonews.
Crypto World
Fortune Crypto 100 Crowns Hyperliquid as Top DeFi Platform in Debut Ranking
Fortune unveiled its inaugural Fortune Crypto 100 this week, naming Hyperliquid the leading decentralized finance (DeFi) platform. Coinbase topped the centralized finance (CeFi) category, ahead of second-placed Binance.
The ranking, built with intelligence firm Inca Digital, sorted more than 3,000 companies into 10 categories of 10 entries each. A survey of over 200 crypto experts informed trust and reputation scores.
How the Fortune Crypto 100 Was Built
Fortune modeled the project on its Fortune 500 franchise. Each entity could appear in only one category.
Companies that qualified for several were placed where they ranked highest, according to the published methodology.
Scores combined on-chain activity and corporate financials with security infrastructure, regulatory track records, and global media footprint. However, Fortune and Inca Digital declined to reveal the metric weights, citing competitive reasons.
The announcement confirmed eight other category winners. Franklin Templeton led TradFi, Robinhood took fintech, and Andreessen Horowitz headed venture capital. Meanwhile, Tether won stablecoins, Chainalysis topped crypto services, Mara led mining, and Bitcoin (BTC) ranked first among blockchains and protocols.
BlackRock claimed the digital asset treasuries (DATs) and ETFs category. The result reflects how a few Wall Street asset managers now hold most institutional crypto exposure.
“Evaluating digital assets means looking past the trends and analyzing the data that isolates real signals. Inca brought financial and technical analysis across markets, sentiment, and on-chain activity to the Fortune Crypto 100 list. This is what a higher benchmark for tracking the industry looks like,” Adam Zarazinski, CEO of Inca Digital, said in the release.
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Why Hyperliquid Topped the DeFi Category
Hyperliquid (HYPE) earned the DeFi crown after a year of measurable growth. The perpetuals exchange recently cracked the top 10 by market capitalization, flipping Dogecoin (DOGE) in the process.
Its Assistance Fund has also directed $1.16 billion in buybacks toward HYPE since launch. In addition, growing institutional ETF demand has supported the token through 2026.
HYPE traded at $56.65 at press time, up 2% in 24 hours, per BeInCrypto Markets data. That gives the token a $12.66 billion market cap, ranking 11th overall.
The price remains below its June 2 all-time high of $75.48 after a 12.6% weekly pullback.
Fortune acknowledged one gap in the first edition. Crypto market makers were left out, and the publisher pledged to include them next time.
A companion Crypto Innovators list also recognized 30 emerging firms across Asia-Pacific, Europe, Latin America, and Africa.
Whether the Fortune Crypto 100 becomes an annual industry benchmark may depend on how its winners perform before the 2027 edition.
The post Fortune Crypto 100 Crowns Hyperliquid as Top DeFi Platform in Debut Ranking appeared first on BeInCrypto.
Crypto World
Ondo Finance pushes into tokenized investment products, hires former Invesco ETF chief
Ondo Finance has hired former Invesco ETF executive and Grayscale managing director John Hoffman to expand its tokenized investment products beyond stocks and Treasury notes.
Hoffman joins the firm as managing director and head of product portfolios after serving as head of distribution and partnerships at Grayscale Investments, best known for its digital asset funds. Before that, he spent nearly two decades at $2.5 trillion asset manager Invesco, where he most recently led the firm’s ETF and index strategies business in the Americas.
His focus will be building and distributing tokenized portfolios, including investment baskets developed with asset managers and strategies built around Ondo’s existing products.
The hire points to Ondo’s plans to move beyond tokenized versions of individual assets toward managed investment products on blockchain rails.
“Our next step is building the world’s most trusted platform for intelligently managed, onchain investment portfolios,” Hoffman told CoinDesk in an interview.
“It took 30 years for ETFs to go from niche product to the default vehicle,” he said. “Onchain finance will compress that timeline dramatically. The infrastructure is here and the next generation of portfolio products will be built onchain.”
The move comes as tokenization gains traction across Wall Street and crypto markets. The technology creates blockchain-based versions of traditional assets such as stocks, bonds and funds. Supporters say it can reduce settlement times, keep markets open around the clock and make assets easier to move between trading venues. BlackRock, Franklin Templeton, Fidelity and JPMorgan are among the financial firms that have launched or tested tokenized products.
The market for tokenized assets has nearly tripled in a year, surpassing $30 billion, RWA.xyz data shows. Citi has projected tokenized assets could reach $5.5 trillion by 2030, while a joint report from Boston Consulting Group and Ripple estimated the market could grow to $18.9 trillion by 2033.
Ondo has been one of the biggest crypto-native players in the sector. The company first gained traction with tokenized Treasury products OUSG and USDY, which provide investors with blockchain-based exposure to U.S. government debt and other yield-bearing assets.
More recently, the company expanded into tokenized equities through Ondo Global Markets, which the company says has surpassed $1 billion in total value locked across more than 250 stocks and ETFs.
Crypto World
Bitcoin (BTC) Eyes $63K Again, Monero (XMR) Jumps by Double Digits (Market Watch)
Bitcoin’s price dipped once again in the past 24 hours after the tension in the Middle East skyrocketed with new attacks, but it has managed to offset the losses and is back toward $63,000 now.
Most altcoins have followed suit, with ETH going past $1,650, BNB returning to $600, and SOL reclaiming the $65 level.
BTC Aims at $63K
The primary cryptocurrency’s price troubles intensified at the beginning of the month when it was rejected at $73,000. It quickly dumped below the psychological $70,000 level, and the situation worsened rapidly after that. $65,000 gave in in days, and the bears started to challenge the $60,000 support.
Unlike February, when this coveted line managed to hold the price declines, the bears were more persistent this time and managed to break through. The drop below $60,000 wasn’t as profound as many feared, as BTC dipped to $59,100 and bounced off. Nevertheless, this still became its lowest price in almost two years.
That all took place on Friday, but bitcoin managed to recover to $63,000 by Sunday. It even spiked to $64,000 on Monday morning but was quickly halted there as reports emerged that Iran had taken down a US helicopter. President Trump said his country has to retaliate, which resulted in another price dip for BTC to $61,000.
Nevertheless, the asset has remained above that level and now sits close to $63,000. Its market capitalization has climbed to $1.260 trillion on CG, while its dominance over the alts is well above 56%.

BEAT, XMR Pump
Most larger-cap alts have erased yesterday’s losses. Ethereum is above $1,650 once again, BNB has tapped $600, while XRP has defended the $1.10 support. SOL is up to $65, while XMR has stolen the show from this cohort of assets. The privacy token has soared by over 11% to $354 as of now.
Audiera (BEAT) remains the top performer from the mid-caps, soaring by 56% in the past 24 hours alone. The asset has skyrocketed by a mind-blowing 500% in the past week. In contrast, LAB has plunged again, as another 15% drop has driven it to well below $8.
The total crypto market cap has recovered more than $40 billion daily and is up to $2.230 trillion on CG.

The post Bitcoin (BTC) Eyes $63K Again, Monero (XMR) Jumps by Double Digits (Market Watch) appeared first on CryptoPotato.
Crypto World
3 Reasons Why Ripple (XRP) Could Be Ready to Pump
Ripple’s cross-border token has tracked the broader crypto downturn, sliding roughly 24% over the past month to its current level of $1.12.
Despite unfavorable conditions and fears of a deeper decline, several key factors suggest that a much-needed recovery could be on the horizon.
The Potential Catalysts
The first bullish sign was disclosed by the renowned analyst Ali Martinez. He revealed on X that the Tom DeMark Sequential indicator has flashed a buy signal on XRP, suggesting a possible rebound is imminent.
It is important to note that his post was met with mixed feelings, as some users claimed that the technical analysis tool has not been quite accurate in the past.
Earlier this month, Martinez touched on XRP again, saying he has been closely monitoring $0.90 and arguing that a plunge to that level could present “a compelling long-term buying opportunity.”
The second factor on the list is the asset’s Relative Strength Index (RSI). The ratio recently slipped well below 30 and now hovers around that mark, suggesting the token remains oversold and may be on the verge of a short-term rally. The index ranges from 0 to 100, and conversely, anything above 70 is interpreted as a bearish signal.

Third comes the declining amount of XRP tokens stored on Binance. CryptoQuant’s data shows that the figure has dropped to a four-month low of around 2.68 billion. The development indicates that some investors have moved their holdings from the world’s largest crypto exchange to self-custody solutions, thereby reducing immediate selling pressure.

Bonus: The ETFs
The solid institutional interest in Ripple’s native cryptocurrency should also be mentioned. Over the past several weeks, inflows into spot XRP exchange-traded funds (ETFs) have exceeded outflows, suggesting that more conservative players, including pension funds and hedge funds, have increased their exposure to the coin.

As a result, financial giants such as Bitwise, Canary Capital, Franklin Templeton, 21Shares, and Grayscale were required to purchase real XRP to properly back the acquired shares. The first such products popped up towards the end of 2025, and since their launch, they have generated a cumulative total net inflow of almost $1.45 billion.
Meanwhile, spot BTC and ETH ETFs have been bleeding lately, suggesting that institutional investors have reduced their exposure to the two biggest cryptocurrencies.
The post 3 Reasons Why Ripple (XRP) Could Be Ready to Pump appeared first on CryptoPotato.
Crypto World
Trump “Loves the Inflation,” as Crypto Keeps Getting Butchered: Geopolitical Tensions vs. Crypto
Bitcoin is holding above $62,000, but barely. The crypto market shed by 20% in a month, with Ethereum breaching the psychologically huge $2,000 level and XRP going down fast. Meanwhile, a new political narrative is hardening on Crypto Twitter. The crypto president, Donald Trump, openly welcomes inflation if it torches incumbent credibility and pumps hard assets.
The macro backdrop has turned genuinely hostile. Hotter-than-expected inflation prints have markets reluctantly pricing in a “higher for longer” rate environment. This has acted as a direct headwind for Bitcoin and risk assets, regardless of what political soundbites suggest.
Pro-Trump influencers on X are circulating the line that he “loves the inflation,” framing persistent CPI as a weapon against the current administration. Macro analysts push back hard: real yields drive crypto flows, not campaign rhetoric.
ETF inflows into US spot Bitcoin products have become the clearest short-term directional signal, and those flows have been wavering amid escalating geopolitical flashpoints across the Middle East and Eastern Europe.
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Can Crypto President Donald Trump Reverse Bitcoin to $70,000?
Bitcoin is trading in a weekly range of $59,000–$64,000, with that band acting as both short-term support and resistance. The current $62,800 print sits uncomfortably in the middle of that channel, a no man’s land for directional traders.
The technical structure is mixed at best. Analyst video breakdowns identify ascending trendline support clustering around $60,000 on higher timeframes, while the critical resistance zone sits between $67,500 and $70,000. A clean breakout above $71,500–$73,000 would flip the short-term bias decisively bullish.
Ethereum at $1,600 is tracking BTC’s indecision rather than generating its own momentum. XRP remains range-bound at low with no breakout catalyst in sight. The collapse in corporate buying pressure adds another layer of bearish overhang.
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Bitcoin Hyper Targets Early-Mover Upside as BTC Tests Critical Support
Here’s the uncomfortable truth for spot BTC holders: even in the extreme bull case, a move from here to an all-time high will just give traders $1k for $1k initial. For traders who missed the cycle lows, that’s a thin margin against macro risk. That calculus is exactly why early-stage infrastructure plays are drawing attention from allocation-aware investors rotating out of range-bound majors.
Bitcoin Hyper ($HYPER) is positioning itself as the first-ever Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, a technical combination that, if it delivers, addresses Bitcoin’s three core limitations simultaneously: slow transactions, high fees, and the near-total absence of programmability.
The project has raised a verified $32 million in presale at a current token price of $0.0136814, with high-APY staking already live for early participants. The SVM integration theoretically enables smart contract execution faster than Solana’s mainnet, while the Decentralized Canonical Bridge handles BTC transfers without custodial risk.
The post Trump “Loves the Inflation,” as Crypto Keeps Getting Butchered: Geopolitical Tensions vs. Crypto appeared first on Cryptonews.
Crypto World
Cardano News: ADA Hits Multi-Year Low as Whales Sell, Can this be The End of Cardano?
Cardano News: ADA price is sitting at $0.1665, down 42% over the past month and trading at its lowest level since December 2020, a level that has effectively unwound the entire speculative premium from Cardano’s Alonzo-era rally.
A whale sell-off is pressing the asset deeper into a zone most traders hoped they would never revisit, while a speculative cross-chain catalyst from Flare Network is generating just enough noise to complicate the bearish read.
The question is whether that noise becomes signal, or whether the selling simply overwhelms it.
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Cardano News: What the Whale Data and On-Chain Pressure Actually Show
On-chain analytics firm Santiment flagged a sharp spike in Cardano’s Age Consumed metric and a simultaneous flattening of Mean Dollar Invested Age as ADA printed a low near $0.1485, signals interpreted as long-dormant holders suddenly moving coins, consistent with capitulation or major redistribution rather than routine churn.
Separately, large-holder cohorts have been repeatedly offloading: wallets holding 10–100 million ADA sold roughly 180 million tokens over just a few days, while wallets in the 1–10 million ADA range shed over 560 million tokens in a prior four-day window.

That selling pressure is compounded by a broader crypto bear market environment, ETF outflows, treasury-level de-risking, and geopolitical risk-off have hit the entire altcoin complex, meaning ADA’s breakdown is not purely project-specific.
Technically, the 50-, 100-, and 200-day EMAs are clustered between $0.23 and $0.33, all sitting well above current price, the kind of stacked moving average compression that confirms a structurally broken trend rather than a temporary dip.
Cardano Price Prediction: Where Can ADA go From Here?
Cardano (ADA/USD) has experienced a dramatic boom-and-bust cycle over the past two years on the weekly timeframe.After trading in a relatively subdued range around $0.35–$0.50 through mid-2024, ADA exploded higher in late 2024, surging to a major peak near $1.35–$1.40 in early 2025.
This parabolic move was followed by intense volatility and a series of lower highs throughout 2025. Since the second half of 2025, the token has been in a sustained and steep downtrend, shedding the majority of its gains and recently breaking to fresh lows around $0.1666.As of June 11, 2026, ADA is trading at approximately $0.1666 (up ~0.85% on the week), sitting near the bottom of a multi-month descending channel.
The RSI (14) is deeply oversold at 27.83, suggesting the asset is technically exhausted to the downside and potentially due for a relief bounce or consolidation, though the broader trend remains firmly bearish. The price is now trading at levels last seen in the 2024 bear market lows, indicating significant long-term value erosion for holders who bought near the 2025 highs.
Discover: The Best Token Presales
The post Cardano News: ADA Hits Multi-Year Low as Whales Sell, Can this be The End of Cardano? appeared first on Cryptonews.
Crypto World
Philippines SEC Flags Binance Sandbox Limits and Licensing Gaps Update
TLDR
- Philippines central bank said Binance and BlockShoals do not hold required VASP licenses.
- Authorities clarified that BSP licensing is separate from SEC sandbox approval rules.
- Binance previously faced restrictions in 2023 for operating without proper authorization.
- SEC allowed BlockShoals entry under the StratBox sandbox for controlled fintech testing.
- Regulators require integration with a licensed domestic VASP before user onboarding begins.
The Philippines’ central bank confirmed Binance and its partner lack the required VASP licenses today. Securities and Exchange Commission records show prior warnings against Binance operations in the country. Officials said licensing rules under BSP remain separate from SEC sandbox approval process requirements.
Binance Faces Licensing Gap in Philippine Market
Bangko Sentral ng Pilipinas said neither entity holds a valid VASP license authorization. The regulator stressed that crypto payment operations require separate approval frameworks under BSP.
Binance previously faced restrictions after the SEC flagged unlicensed activity in a 2023 public notice. Authorities ordered internet providers and app stores to block the exchange nationwide.
BlockShoals Technologies entered a partnership with Binance under a regulatory sandbox framework program. The sandbox allows firms to test financial services under supervision rules in a controlled environment.
SEC granted initial clearance to BlockShoals under its StratBox program framework pilot phase. Clearance does not replace central bank licensing requirements for operations in Philippines market.
BlockShoals Partnership Under Regulatory Scrutiny
Reports say the SEC revised language describing the Binance crypto-asset service provider classification change. This description differs from earlier references that labeled Binance as a VASP designation status.
New terms require BlockShoals to integrate systems with a licensed domestic VASP by the deadline. Integration must occur before any Binance-powered user onboarding begins according to regulatory terms.
The requirement sets a 90-day timeline for compliance action from the approval stage. Authorities say the rule ensures separation between sandbox and licensing framework requirements.
BlockShoals must meet conditions before onboarding users via the Binance infrastructure system integration stage. The central bank confirmed licensing remains mandatory for all VASP operations nationwide.
BitPinas reported that the central bank clarified sandbox participation limits for crypto firms locally. The clarification highlights regulatory separation between test environments and licensing compliance structure rules.
Binance continues discussions with local partners to enter the Philippine market on the regulatory approval path. Officials maintain that all exchanges must follow dual licensing rules under BSP SEC.
StratBox sandbox continues to evaluate fintech and crypto applications under the supervision of the review process. Participation requires integration testing with regulated financial service providers before the production use stage.
The SEC adjusted sandbox terms describing the Binance crypto service entity classification update. Updated terms also require integration with licensed domestic operators within the regulatory window period.
BlockShoals must complete integration within the 90-day compliance requirement set by the regulators’ framework. No Binance user onboarding can proceed without full licensing approval from authorities process.
Crypto World
BTC price rises, holds above moving average signal that ETH, SOL can’t penetrate
Bitcoin rose Thursday, and its share of the total crypto market, its dominance rate, gained alongside a meteoric rise in a lesser-known cryptocurrency.
The BTC price advanced 2.4% in 24 hours to trade recently around $62,800. The CoinDesk 20 Index (CD20) added 2.3% to 1,690 and the CoinDesk Memecoin Index (CDMEME) led gains with a 2.7% increase.
BTC’s dominance rate has risen to 59% from last week’s low of 57.9%, a sign of renewed capital flowing into the largest cryptocurrency as major altcoins struggle. The bitcoin price has held its 200-week average even as other majors such as XRP, ether (ETH) and solana (SOL) trade below the key technical line, suggesting strengthening bearish momentum in altcoins.
In the wider market, Audiera’s BEAT token jumped another 57%, taking the seven-day gain to over 500%. Audiera is a Web3 entertainment and rhythm gaming platform built on BNB Chain that treats AI characters and virtual idols as economic participants.
The protocol announced on X that onchain activity is surging, driven by consistent token burns and rising wallet participation. However, some users on social media have voiced concerns about concentrated token ownership and potential pump-and-dump risks.
The other big gainer is Velvet’s VELVET token, which has surged roughly 800% in 30 days.
Derivatives positioning
- Bullish crypto futures bets continue to get squeezed. Over the past 24 hours, exchanges liquidated $378 million, with more than $207 million coming from long positions.
- Open interest (OI) in bitcoin and ether futures has remained largely stable, indicating little appetite for fresh leverage. In zcash (ZEC), open interest has fallen to 2.28 million tokens, extending its pullback from recent highs above 2.5 million. This reflects a lightening of positioning as ZEC’s recovery from Friday’s sub-$300 low has stalled. The token has retreated from $480 to around $430 in just two days.
- The 24-hour OI-adjusted cumulative volume delta (CVD) presents a mixed picture. Tokens like BTC, XMR, ETH, HBAR, and SHIB recorded positive CVDs, showing buyers lifting offers. Meanwhile, TON, XLM, HYPE, TRX, XRP, and several others saw negative readings.
- BTC’s 30-day implied volatility index (BVIV) remains steady below 50%, suggesting traders don’t expect volatility related to tomorrow’s SpaceX IPO to spill over into crypto. Ether’s volatility index (EVIV) is also easing from Friday’s peak.
- On Deribit, bitcoin and ether puts continue trading at a premium to calls across all major expiries. The $58,000 BTC put expiring June 13 was the most actively traded contract in the past 24 hours.
Token Talk
- Velvet’s VELVET token has surged roughly 800% in 30 days, more than doubling in the past 24 hours alone.
- The token is riding the rush into pre-IPO perpetual futures, synthetic contracts that let traders bet on the valuations of SpaceX, OpenAI and Anthropic before the shares start trading. The timing tracks SpaceX’s expected June 12 debut at a reported $1.75 trillion valuation.
- DefiLlama now tracks 14 similar markets across SpaceX, OpenAI, Anthropic and Quantinuum on venues including Injective, Hyperliquid and Crypto.com, and Velvet reaches them by routing through outside platforms TradeXYZ and Ventuals rather than building its own. Injective launched the format back in October 2025.
- The contracts carry real risk. They are synthetic derivatives that convey no shares, dividends or voting rights, and their prices come from data feeds that can be thin and can drift far from actual funding rounds or any eventual IPO price. A synthetic SpaceX contract on Hyperliquid flash-crashed about 45% on Thursday.
- The VELVET token itself is drawing scrutiny. Lookonchain flagged concerns over the linkage between its spot and futures markets and heavy selling pressure after the spike, and the price whipsawed between $0.29 and $1.07 in a single day.
- The protocol holds about $653,000 in deposits against a $339 million market cap, a wide gap between the token’s valuation and the money actually using the platform.
Crypto World
Ethereum News: Ethereum’s pERC-20 Proposal Would Make Token Transfers Private by Default
Ethereum News: A draft Ethereum token standard called pERC-20, formally tracked as ERC-7605, proposes making token transfers private by default, hiding balances, transaction amounts, and counterparties using zero-knowledge proofs baked directly into the token contract.
It is not a wrapper around existing ERC-20 tokens. It is a replacement interface: privacy-native from mint to transfer, designed so encrypted balances never exist in public state at any point in a token’s lifecycle.
The mechanism draws heavily on ZK-UTXO architecture pioneered by Zcash, specifically the Groth16 proof system and Orchard-style note commitments, and adapts them for EVM-native deployment. MetaMask-compatible. No new precompile required.
Tokens exist as cryptographic notes, not public account balances.
The proposal also includes a compliance blacklist mechanism, a deliberate architectural choice that positions pERC-20 not as a privacy-maximalist tool but as regulation-aware infrastructure. That framing matters given the regulatory climate that buried Ethereum privacy work for the better part of three years.
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Ethereum News: How pERC-20 Actually Works, The UTXO Model Comes to Ethereum Tokens
Under the current ERC-20 standard, every wallet holding tokens has a publicly readable balance; anyone can query balanceOf on any address and see exactly how many tokens it holds, where they came from, and where they went. pERC-20 removes that interface entirely.
There is no balanceOf, no approve, no allowance, no transferFrom. Instead, the standard introduces a new IPERC20 interface built around mint, burn, and transfer operations, each requiring a valid zero-knowledge proof.
The underlying model is UTXO-style and note-based, the same conceptual architecture behind Zcash Orchard.
A token balance does not live at an address in the traditional sense. It exists as one or more encrypted cryptographic notes, each representing a discrete amount, owned by a key pair, and spendable exactly once. Ownership is proven via standard ECDSA signatures, which is what makes the standard EVM-native and wallet-compatible without requiring custom hardware or new browser extensions.
Transaction validity is verified using Groth16 zero-knowledge proofs, the same proof system Zcash has used at scale.
A Groth16 proof lets the network confirm that a transfer is mathematically sound, that inputs equal outputs, that the spender owns the notes being consumed, without revealing any of the underlying values.
Poseidon hash commitments are used for note construction, optimized for ZK circuit efficiency. Spent-note tracking happens in O(1) with configurable epoch cleanup, preventing the unbounded state growth that plagued earlier on-chain privacy experiments.
One thing the VOSA design does preserve publicly: the transfer graph, which addresses interacted with which. Amounts are hidden; the linkage between Virtual One-time Sub-Accounts is not. That is a deliberate tradeoff, and a significant one for anyone treating pERC-20 as equivalent to full transaction graph privacy.

pERC-20 is still a draft, it must survive the full ERC review process before any widespread deployment, and no mainnet changes are required for it to launch as an application-level standard.
The first real test is whether it advances from forum discussion to a stable interface with a reference implementation. If it does, the question of whether Ethereum’s default token layer should be transparent or private by default becomes a live design choice rather than a theoretical one.
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Crypto World
Digital Asset Holdings Secures Another $355 Million in Funding Round Led by a16z
Digital Asset Holdings LLC, best known as the entity behind the Canton Network, has raised another $355 million in a new funding round led by Andreessen Horowitz’s main crypto fund.
The US-based privately held venture capital firm, founded by Marc Andreessen and Ben Horowitz, contributed $100 million. Other notable names that participated in the funding round include heavyweights like Citadel Securities, Apollo, BNP Paribas, CME Ventures, Coinbase Ventures, and HSBC.
Digital Asset Holding built the Canton Network, a layer-1 smart-contract blockchain with configurable privacy and controls. It aims to become a household name in the rapidly growing sectors of Real-World Assets (RWA) and TradFi institutions.
It uses a two-tier consensus mechanism that allows unlimited horizontal scalability of the network. It also maintains full smart contract interoperability.
According to reports, the Canton Network has already supported $6 trillion in tokenized issuance, while the proceeds from the latest funding round will be channeled toward partnerships, M&A, and ecosystem expansion.
It’s worth noting that this is the second major funding round closed by Digital Asset Holdings. In the previous round, announced a month ago, the entity raised $300 million at a near-$2 billion valuation, and a16z was once again at the forefront.
In 2025, it raised $50 million from major backers such as Nasdaq and Bank of New York Mellon.
The post Digital Asset Holdings Secures Another $355 Million in Funding Round Led by a16z appeared first on CryptoPotato.
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LATEST: TOM LEE'S BITMINE JUST BOUGHT ANOTHER $123 MILLION OF ETH
in North America & Europe.

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