Crypto World
UK Investors Sue Binance and CEO CZ Over $200M, Court Filing Says
Nearly 1,700 investors in the United Kingdom have reportedly launched legal action against Binance and its founder, Changpeng Zhao, seeking £150 million (about $200 million). The claim alleges that Binance offered and sold crypto derivatives—including leverage tokens, futures contracts, and options—without the regulatory approval required under UK law.
According to the law firm KP Law, the case focuses on alleged violations of the Financial Services and Markets Act 2000 and on the continued availability of these products after the UK Financial Conduct Authority (FCA) banned them from being offered to retail customers in January 2021. Binance, for its part, says it will defend itself through the legal process and asserts it remains committed to operating in line with applicable law.
Key takeaways
- KP Law says almost 1,700 UK investors are pursuing a combined £150 million claim against Binance and Changpeng Zhao over crypto derivatives offerings.
- The lawsuit targets leverage tokens, futures, and options, alleging breaches of the Financial Services and Markets Act 2000.
- The case centers on alleged continued access after the FCA banned such products to UK retail customers in January 2021.
- Binance has denied wrongdoing and told Cointelegraph it will defend the claims in court.
- The complaint was reportedly filed in the London High Court, naming Binance-affiliated Nest Exchange and “persons unknown.”
What the lawsuit alleges
The investors are represented by KP Law, which states that Binance’s leverage tokens and derivatives offerings violated the Financial Services and Markets Act 2000. KP Law also argues that these products kept being offered to UK customers even after regulatory restrictions were issued.
In its statement, the law firm suggests there was “no effective barrier” preventing UK customers from accessing the products. While the precise mechanics of access are not detailed in the available reporting, the legal thrust is clear: the plaintiffs contend that the exchange’s products were distributed in a way that did not respect the regulatory prohibition for retail customers.
Reuters reported that multiple UK users lost “tens of thousands of pounds” through the affected products, underscoring that the suit is not framed as a purely technical regulatory dispute but as a remedy-seeking effort over financial losses.
Binance’s response and the legal posture
Binance told Cointelegraph it would “defend against these claims through the appropriate legal process.” The exchange also said it “remains committed to its obligations to users and to operating in accordance with applicable law.”
That stance positions the lawsuit squarely as a dispute over whether Binance’s derivative offerings were unlawfully provided to UK retail customers and whether the FCA’s January 2021 ban was effectively enforced in practice. As with any civil claim, the next steps—procedural rulings, discovery, and eventual merits arguments—will determine how those allegations are substantiated in court.
How this fits into Binance’s broader regulatory pressure
Lawyers and regulators are not acting in a vacuum. The filing adds to what Cointelegraph described as a growing list of legal and regulatory challenges for Binance, including compliance uncertainty linked to Europe’s Markets in Crypto-Assets (MiCA) framework.
Earlier coverage from Cointelegraph noted that Binance faced difficulty securing a MiCA-compliant license from an EU member state before a July 1 deadline. That type of licensing timeline matters to investors because MiCA was designed to create a clearer compliance structure across the EU—yet uncertainty around authorization and product restrictions can translate into uneven availability of services, shifting venue risk, and changes to how platforms present derivatives and related products.
In addition, Cointelegraph previously reported on allegations that Binance facilitated transactions tied to a sanctioned Iranian financier and that flowed to Iran’s Islamic Revolutionary Guard Corps. Binance strongly denied those allegations, and the case now reflects how regulatory scrutiny has spanned both market-structure compliance (derivatives access and retail suitability) and broader concerns around illicit finance and sanctions risk.
Who may be affected—and what changed for UK operations
The plaintiffs are said to be identifying the full scope of affected customers. KP Law said the precise number of UK customers affected is not publicly known, but argued that Binance’s global scale could mean a larger pool of exposure than the reported 1,700 claimants.
One individual described in coverage is Tomas Sutas, a financial controller who allegedly invested more than £100,000 into Binance’s derivatives products before the value was wiped out, the Financial Times reported. Reuters also described multiple UK users losing “tens of thousands of pounds.” While these accounts represent specific claim narratives rather than a verified aggregate loss figure for the full class, they help explain why the dispute has advanced as a high-stakes damages case.
Cointelegraph also pointed to earlier restrictions affecting Binance in the UK. Binance’s operations in the region reportedly became heavily constrained in June 2021, when the FCA informed Binance Markets Limited that it could not operate without written consent. That timeline is central to how the plaintiffs frame causation: the argument is that regulatory action came earlier, but access to the relevant derivatives continued.
Reuters reported that the lawsuit was filed in the London High Court. The defendants reportedly include the Binance-affiliated Nest Exchange as well as “persons unknown,” a formulation often used when claimants cannot yet identify all involved parties or when seeking broader injunctive and compensatory relief. KP Law said the firm is still working to determine the full set of impacted customers.
For UK-based investors and traders, the practical takeaway is that product availability can become a long-term legal issue, not just a short-lived trading restriction. Even when regulators impose bans, the continuing question—central to this lawsuit—is whether platforms effectively prevent retail access and how that is assessed under the relevant financial services framework.
As the case moves through the UK courts, readers should watch for early procedural developments, including how the court interprets the FCA ban’s reach and whether plaintiffs can demonstrate that the alleged access after January 2021 was sufficiently direct and attributable to Binance’s offerings. Beyond the outcome, the litigation could influence how exchanges design and enforce geo- and user-level controls for derivatives and other complex products in jurisdictions with active retail restrictions.
Anthropic has said it will restore public access to Claude Fable 5 and Mythos 5 after U.S. authorities lifted export restrictions that had kept the company’s two most advanced AI models offline since June 12.
Summary
- Anthropic said public access to Claude Fable 5 and Mythos 5 will resume after U.S. authorities lifted export restrictions.
- The models were pulled offline after officials raised concerns over a reported jailbreak that could make Fable 5 identify software vulnerabilities.
- Anthropic said the redeployed models will include new classifiers to block more cybersecurity-related tasks while cooperation with the U.S. government expands.
According to Anthropic, the decision followed “a series of productive conversations” with the U.S. government, after which the company began redeploying the models with new classifiers designed to identify and block more cybersecurity-related tasks.
The company said the latest safeguards are meant to address government concerns linked to possible misuse if the systems are bypassed through jailbreak methods.
The restrictions had forced Anthropic to suspend access to Fable 5 and Mythos 5 for all users earlier this month, after a U.S. government export control directive instructed the company to block both models for all foreign nationals.
In its June 13 statement, Anthropic said the order also covered foreign-national employees working inside the company, prompting it to disable the models entirely to ensure compliance.
U.S. government clears redeployment after review
U.S. Secretary of Commerce Howard Lutnick said on X on Wednesday that officials had worked with Anthropic over the past two weeks to review and approve Fable 5 while keeping the model aligned with U.S. government requirements.
White House Chief of Staff Susie Wiles also said on X that the government’s priority was to get the best AI technology deployed “as quickly and safely as possible.”
The intervention came after officials became aware of a report in which Amazon researchers found a method to bypass Fable 5’s safeguards and make the model identify software vulnerabilities.
Anthropic, however, has argued that the reported issue was not unique to Fable 5, saying weaker models could also identify the same vulnerabilities and produce similar exploit-related output.
In its earlier response to the order, the company said authorities had presented only verbal evidence of what it described as a narrow, non-universal jailbreak. Anthropic said such a method did not remove a model’s safety protections across a wide range of tasks, unlike a universal jailbreak.
“We disagree that the finding of a narrow potential jailbreak should be cause for recalling a commercial model deployed to hundreds of millions of people. If this standard was applied across the industry, we believe it would essentially halt all new model deployments for all frontier model providers.”
The company had also warned that treating a narrow jailbreak as a reason to recall a commercial frontier model could affect the entire AI industry if applied as a general standard.
Restrictions on Anthropic have raised policy concerns outside the United States as well. On June 29, Austria urged the European Union to explore establishing Anthropic within the bloc, with State Secretary for Digitalization Alexander Proell arguing in a letter that Europe should not risk losing access to major AI advances because of decisions made elsewhere.
Anthropic expands cooperation on AI safety
Alongside the model redeployment, Anthropic said it is increasing cooperation with the U.S. government on model testing, safeguards, and misuse tracking. The company said this will include pre-release access to models and safety systems for evaluation, information sharing on jailbreaks and misuse, and dedicated resources for joint research.
Anthropic has also started drafting a framework with Amazon, Microsoft, Google, and other partners through Project Glasswing, a cybersecurity collaboration announced in April, to assess the severity of AI jailbreaks. The company said the framework is being developed as a consensus effort for classifying jailbreak risks.
The access debate came as Anthropic has continued its push for stricter frontier AI oversight. In its June 11 “Policy on the AI Exponential” proposal, the company called for testing requirements, independent evaluations, cybersecurity standards, and enforcement measures for advanced AI systems, citing potential biological, cybersecurity, and operational risks.
Key Takeaways
- On June 26, XRP touched $1.009, marking its lowest level since November 2024
- Despite the price decline, XRP spot ETF inflows remained in positive territory
- Technical analysis reveals a sustained downtrend originating from July 2025
- Open Interest has found equilibrium around 400 million XRP, indicating reduced speculative fervor
- Bullish divergence patterns on daily timeframes hint at potentially weakening bearish momentum near the $1 threshold
On June 26, 2026, XRP declined to $1.009, representing the token’s lowest point since it last visited these levels in November 2024.
The decline occurred against a backdrop of continuing positive flows into XRP spot exchange-traded funds. Market participants continued accumulating through these investment vehicles despite downward price momentum.
While ETF accumulation reduces circulating supply available for trading, this dynamic has yet to catalyze upward price movement given prevailing market sentiment.
Overall market appetite for XRP has diminished considerably over recent months, accompanied by a notable contraction in speculative trading activity.
Technical Analysis Overview
The daily timeframe reveals XRP locked in a downward trajectory that originated in July 2025. The decisive break beneath the April 2025 swing low at $1.61, which occurred in February, validated the bearish market structure.
Following this breakdown, XRP consolidated within a defined range for multiple months. Late May witnessed an aggressive selling wave that shattered this consolidation pattern and accelerated the downside move.
A temporary recovery pushed prices toward $1.30 before momentum faded, leaving XRP hovering around $1.05.
Futures market data indicates Open Interest has stabilized at approximately 400 million XRP. The corresponding Open Interest Turnover Ratio has maintained levels near 0.71.
According to analyst Arab Chain, market participants should monitor these indicators for sudden increases. Rapid expansion in either Open Interest or turnover ratio typically precedes elevated volatility periods.
Examining the 4-hour chart, XRP rallied to $1.2935 during mid-June. This advance reached the 78.6% Fibonacci retracement zone around $1.2985 before encountering renewed selling pressure.
Should the bearish trajectory persist, potential downside objectives emerge at $0.975 and $0.854. Market probabilities favored a breach below $1 during July.
Potential Support Dynamics
An alternative technical interpretation presents a more constructive outlook. XRP has consistently rebounded from the $0.90-$1.00 zone, establishing this region as durable support through multiple challenges.
The $1.13 level has transitioned from support into resistance. A successful reclaim of this threshold would indicate emerging bullish momentum.
A bullish divergence pattern on daily charts has persisted for approximately one week. Such formations typically suggest diminishing selling intensity rather than imminent capitulation.
On social platforms, trader Celal Kucuker stated XRP should maintain current support levels and projected a potential climb to $10 within the next twelve months, acknowledging significant volatility along that path.
Technical analyst ChartNerd identified a repeating accumulation structure observed during previous bear cycles, highlighting historical drawdowns ranging from 85% to 96% spanning 14 to 37 months, contrasting with the current 72% retracement over 11 months.
The immediate focus centers on the $1.00 threshold. Maintaining this level preserves the possibility of retesting $1.13 resistance, while a breakdown would expose the $0.87-$0.90 support zone.
Crypto World
What is OpenUSD (OUSD)? Visa, BlackRock, Coinbase, and 140+ Firms Fuel Buzz Around New Stablecoin
Open USD (OUSD) stablecoin has emerged as one of the crypto market’s biggest trending topics after the project drew attention with the announcement of a consortium-backed stablecoin initiative involving more than 140 companies.
Developed by Open Standard, the stablecoin is expected to go live later this year.
Open USD Frenzy
According to the latest findings by Santiment, the scale of participation from major financial and crypto firms has fueled massive discussion across the market. The initiative has attracted some of the biggest names in the industry, making it one of the most talked-about developments in addition to discussions surrounding ANSEM whale activity and Markets in Crypto-Assets (MiCA) licensing.
“The crowd is also debating custody, transparency, liquidity, and whether another major stablecoin can truly compete with USDC and USDT. Either way, the spike in attention shows the market is taking this launch seriously.”
The growing interest follows the official unveiling of OUSD by Open Standard, an independent organization that will oversee the stablecoin. According to the official blog post, Open USD is designed to support global money movement while addressing several issues businesses face when using existing stablecoins.
While stablecoins have become increasingly important because they offer faster, lower-cost, and programmable digital payments, Open Standard said that many businesses still face high minting and redemption fees, limited access to revenue generated by reserve assets, and dependence on third-party issuers for future development.
To address these concerns, OUSD has been built around three core principles. First, businesses will be able to mint and redeem the stablecoin without paying fees or facing volume restrictions. Second, participating partners will receive the earnings generated from the stablecoin’s reserves after a small management fee is deducted to cover operational costs. Third, governance will be handled collectively through Open Standard, whose board will consist of partner organizations rather than a single controlling issuer.
Open Standard said this structure is intended to ensure decisions are made in the interests of the broader ecosystem. The organization also confirmed that more than 140 businesses have already signed up to support or use Open USD, including companies such as Visa, Stripe, Mastercard, American Express, Coinbase, BlackRock, BNY, Standard Chartered, Intercontinental Exchange, Bybit, Solana, Base, OKX, and Ripple.
Commenting on the development, BlackRock’s Global Head of Market Development, Samara Cohen, said,
“We believe stablecoins can play an important role in the evolution of digital markets when supported by trusted infrastructure and practical utility. Open USD is a constructive step toward giving businesses more choice in how they access tokenized value and participate in internet native digital rail.”
Bearish For Circle?
The announcement of OUSD also appeared to weigh on investor sentiment surrounding the USDC issuer, Circle. On Tuesday, CRCL shares fell 17.55% and closed at $62.63.
Former Enterprise Research Analyst at Messari, Sam Ruskin, tweeted that the new stablecoin’s model could pose a competitive challenge to USDC because of its three core design principles. He believes that OUSD’s new model could pressure Circle to expand revenue-sharing agreements, find new distribution partners, or focus on other parts of its stablecoin business.
The post What is OpenUSD (OUSD)? Visa, BlackRock, Coinbase, and 140+ Firms Fuel Buzz Around New Stablecoin appeared first on CryptoPotato.
Taiwanese lawmakers on Tuesday passed a law to establish a regulatory framework for crypto, which includes licensing and rules for stablecoins.
The country’s financial watchdog, the Financial Supervisory Commission (FSC), said that the Legislative Yuan passed the law requiring all virtual asset service providers, or VASPs, to get approval from the regulator to operate.
The law also says stablecoins issued in the country must get approval from the central bank and the FSC, and issuers must maintain sufficient reserves with a trustee and undergo regular audits.
The law is the first to regulate crypto and stablecoins in Taiwan, bringing it in line with other nations in the region, such as Japan, Singapore and Hong Kong, that have long passed laws to regulate the sector in a bid to attract the industry.
The FSC said the bill further strengthens the protection of traders’ rights and that issuing stablecoins will help Taiwan integrate with the international market and secure a place in the global crypto market.
Source: Cointelegraph
Taiwan’s rules outline seven types of VASPs, including exchanges, trading platforms, custodians and lenders, which will all be subject to rules for internal control and audits, cybersecurity systems, crypto listing and delisting rules, customer asset segregation and financial reporting.
The rules outlaw crypto-based fraud and price manipulation, with violators facing between three and 10 years in prison and fines ranging from about 10 million New Taiwan dollars ($300,000) to 200 million New Taiwan dollars ($6.3 million).
Those caught operating a VASP or issuing a stablecoin without a license face up to seven years in prison and fines of up to 100 million New Taiwan dollars ($3.1 million), Taiwan’s national news agency, CNA, reported on Tuesday.
Related: US ban on stablecoin yield could see others fill the void: Ledger exec
The implementation date of the bill is still to be determined, and the law will take effect only after it is published by the government’s executive branch.
The FSC said VASPs that complete anti-money laundering registration before the bill is implemented, and institutions that provide related services under the agency, should apply for a license within 12 months after the bill is implemented.
CNA reported that lawmakers also passed a resolution asking the FSC to propose a plan within a year outlining how the crypto industry can provide derivative crypto commodity services, with the aim of providing diversified investments and improving the sector’s health.
Asia Express: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers
Anthropic is restoring access to its two most advanced AI models after the U.S. government lifted the export controls that forced it to pull them last month.
The controls on Claude Fable 5 and Claude Mythos 5 were removed on June 30, the company said. Fable 5 returns globally on July 1 across Anthropic’s platforms, while Mythos 5, which shares the same underlying model but carries fewer safety restrictions, is being restored to a set of U.S. organizations after government approval on June 26.
The freeze dated to June 12, when the government applied export controls, rules that limit which foreign nationals can access a technology, to both models.
Because the order took effect immediately and Anthropic could not verify users’ nationality in real time, it suspended access for everyone rather than risk breaching the rule.
The trigger was a cybersecurity finding after Amazon researchers reported a way to bypass Fable 5’s safeguards, a technique known as a jailbreak, prompting the model to identify software vulnerabilities and, in one case, produce code showing how one could be exploited.
The EU’s Markets in Crypto-Assets regulation hits its final deadline today, July 1. Licensed exchanges are pulling Tether’s USDT from their platforms. Circle is stepping into the gap.
The split falls cleanly along regulatory lines. One issuer spent years building toward this deadline. The other bet Europe wasn’t worth the compliance cost.
Why Circle Is Walking Away With Europe
Circle prepared for this moment years in advance. The company secured MiCA compliance for both USDC and its euro-denominated EURC. Among the top ten stablecoins by market cap, Circle is the only issuer that cleared that bar.
Tether never applied for the e-money-token authorization MiCA requires. That decision now locks its roughly $185 billion USDT out of licensed European exchanges.
Tether’s decision wasn’t an oversight. CEO Paolo Ardoino has publicly defended the company’s stance, arguing that MiCA’s requirement to hold 60% of e-money token reserves in European bank deposits introduces its own risk. Rather than restructure its reserve model to meet that bar, Tether’s leadership has chosen to prioritize markets outside the EU.
The timing sharpens Circle’s advantage. A day before the deadline, BNY (Bank of New York Mellon) confirmed it made USDC the first stablecoin on its Digital Asset Custody platform.
Institutional clients can now store, transfer, mint, and burn USDC there. Together with the EU exchange shift, the move gives Circle regulatory validation on two continents in the same week.
A Business Story, Not Just a Compliance One
The shakeout extends well beyond stablecoins. Of the roughly 1,200 virtual-asset firms that held pre-MiCA national registrations across the EU, only around 210 converted to full CASP authorization, a conversion rate near 17%.
The more durable story is what Circle built toward for years. Regulated venues can no longer route liquidity through USDT, and Circle stands ready to absorb it. Tether may still seek authorization someday, but nothing signals that shift is coming.
The real test arrives over the next few weeks: how much EU trading volume actually migrates to USDC.
The post Circle Emerges as MiCA’s Quiet Winner While USDT Exits Europe appeared first on BeInCrypto.
For years, Bitcoin has been viewed primarily as a store of value—a digital asset designed to preserve wealth rather than actively generate it. While decentralized finance (DeFi) has transformed blockchains like Ethereum by enabling lending, borrowing, staking, and yield generation, Bitcoin has largely remained on the sidelines.
That narrative is rapidly changing.
Bitcoin Finance, commonly known as BTCFi, is emerging as one of the fastest-growing sectors in decentralized finance. By unlocking Bitcoin’s liquidity and allowing BTC holders to participate in financial applications without selling their assets, BTCFi has the potential to become the next multi-billion-dollar market.
What Is BTCFi?
BTCFi refers to the ecosystem of decentralized financial services built around Bitcoin. Rather than simply holding BTC in a wallet, users can now:
- Earn yield on idle Bitcoin
- Borrow stablecoins using BTC as collateral
- Provide liquidity to decentralized exchanges
- Participate in decentralized lending markets
- Trade Bitcoin-based assets
- Access structured financial products
- Use Bitcoin in cross-chain DeFi ecosystems
The goal is simple: transform Bitcoin from passive capital into productive capital.
Why the Timing Is Right
Several major developments have aligned to make BTCFi more viable than ever.
Bitcoin Holds Massive Untapped Liquidity
Bitcoin remains the largest cryptocurrency by market capitalization, representing hundreds of billions of dollars in value. Yet only a small fraction of this capital is actively used in DeFi.
Even modest participation from long-term Bitcoin holders could inject enormous liquidity into decentralized financial markets.
Institutional Interest Is Growing
The approval of Bitcoin exchange-traded funds (ETFs), increasing corporate treasury adoption, and rising institutional investment have strengthened Bitcoin’s position as a mainstream financial asset.
As institutions seek additional yield opportunities, BTCFi offers ways to generate returns while maintaining Bitcoin exposure.
Better Infrastructure Is Finally Here
Early attempts to bring DeFi to Bitcoin struggled due to limited programmability.
Today, new technologies are changing the landscape:
- Bitcoin Layer-2 networks
- Sidechains
- Cross-chain bridges
- Smart contract platforms secured by Bitcoin
- Native Bitcoin lending protocols
These innovations make sophisticated financial applications possible without compromising Bitcoin’s core security model.
The Rise of Bitcoin Layer-2 Networks
Scaling solutions are becoming the backbone of BTCFi.
Modern Layer-2 ecosystems enable:
- Faster transactions
- Lower transaction fees
- Smart contract execution
- Better user experiences
- Expanded developer ecosystems
These improvements create the foundation necessary for a thriving Bitcoin financial ecosystem.
New Yield Opportunities
One of BTCFi’s biggest attractions is allowing Bitcoin holders to earn passive income.
Instead of letting BTC sit idle in cold storage, users can:
- Supply liquidity
- Lend assets
- Participate in decentralized money markets
- Stake wrapped or tokenized Bitcoin in supported ecosystems
- Earn protocol incentives
This represents a significant shift from Bitcoin’s traditional “buy and hold” strategy.
Expanding Use Cases
BTCFi is moving beyond basic lending.
Emerging applications include:
- Decentralized exchanges
- Stablecoin collateralization
- Prediction markets
- Tokenized real-world assets
- On-chain derivatives
- Cross-chain liquidity protocols
- Automated yield strategies
- AI-powered financial management
As these applications mature, Bitcoin becomes increasingly integrated into the broader decentralized economy.
Why Developers Are Paying Attention
Developers are increasingly building products around Bitcoin because of its unmatched security, liquidity, and global recognition.
Innovative startups are creating:
- Native Bitcoin lending markets
- Bitcoin-backed stablecoins
- Cross-chain liquidity hubs
- Decentralized trading infrastructure
- Institutional-grade custody solutions
- Advanced financial automation tools
A growing developer ecosystem typically leads to stronger network effects and increased adoption.
Challenges Still Remain
Despite its promise, BTCFi is still in its early stages.
Some of the biggest challenges include:
- Cross-chain security risks
- Smart contract vulnerabilities
- Limited user education
- Liquidity fragmentation
- Regulatory uncertainty
- User experience complexity
Addressing these issues will be essential for sustainable long-term growth.
Why BTCFi Could Become a Multi-Billion-Dollar Industry
Several factors support BTCFi’s long-term growth potential:
- Bitcoin possesses the largest liquidity base in crypto.
- Infrastructure has matured significantly over the past few years.
- Institutional demand for Bitcoin-based financial products continues to increase.
- Developers are launching innovative protocols at a rapid pace.
- More users are seeking passive income opportunities without selling their BTC.
- Cross-chain technology continues to improve accessibility and capital efficiency.
If only a small percentage of Bitcoin’s total market value becomes actively utilized within decentralized finance, the BTCFi ecosystem could expand into one of the largest sectors in the blockchain industry.
Looking Ahead
BTCFi represents the next phase in Bitcoin’s evolution.
Instead of serving solely as digital gold, Bitcoin is increasingly becoming a productive financial asset capable of powering lending markets, liquidity pools, payments, and decentralized financial infrastructure.
While the sector remains young, its momentum is accelerating. Continued innovation in Layer-2 solutions, interoperability, security, and institutional adoption could transform BTCFi from a promising niche into a foundational pillar of decentralized finance.
For investors, developers, and long-term Bitcoin holders alike, BTCFi is more than just another trend—it is a growing movement aimed at unlocking the full economic potential of the world’s most valuable digital asset.
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Crypto platforms lost roughly $75.87 million to 40 hacks in June 2026, according to security firm PeckShield.
The monthly total reinforces a familiar pattern for the sector, where bridges, smart contracts, and compromised keys remain the most common failure points.
Humanity Protocol Exploit Tops June Crypto Hacks
According to PeckShield, June’s figure marks a 7.13% decline from May’s $81.7 million. The Humanity Protocol breach headlined June with over $30 million in losses. Attackers compromised private keys that had been backed up to a malware-infected developer machine.
According to Quantstamp, the attacker relied on tooling and techniques commonly associated with North Korean hacking groups.
The exploiter has since laundered proceeds across multiple networks, including Bitcoin (BTC), Solana (SOL), Hyperliquid (HYPE), and BNB Chain.
These funds have also been commingled with proceeds linked to the KelpDAO exploiter, suggesting a potential overlap between the threat actors behind both incidents,” the security firm said.
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Syscoin Bridge followed with a $10 million loss after an attacker minted unauthorized SYS tokens. The JaredFromSubway.eth Maximal Extractable Value (MEV) bot lost $7.5 million, while Secret Network was drained for $4.67 million.
Aztec Products Hit Despite Years of Dormancy
Two separate attacks targeted Aztec-linked products within the month. Aztec Payments Product lost $2.16 million, and Aztec Connect lost $2.1 million, for a combined total near $4 million.
Both products had been deprecated years earlier, and Aztec Labs said it held no control over the affected systems.
Other June incidents included Polymarket users losing $3 million after reportedly being targeted in a phishing campaign, along with $2.4 million in losses for SecondFi and TESSERA. The Taiko Bridge exploit closed out the top 10 at $1.7 million.
With both deprecated code and cross-chain laundering in play, June showed that old contracts remain in attackers’ crosshairs long after teams walk away.
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The post Hackers Steal $75.87 Million From Crypto Platforms in June 2026 appeared first on BeInCrypto.
Abivax shares surged over 38% on June 30, 2026, after new Phase 3 data eased cancer-safety fears that had erased 43% of the French biotech’s value earlier in June.
The rally follows fresh results for obefazimod, Abivax’s lead ulcerative colitis drug. The data showed durable remission with no new safety signals.
A Reversed Safety Signal
Abivax’s stock crashed 43% on June 2. Early trial data had shown a rise in malignancies among patients taking obefazimod.
The company released new Phase 3 data on Sunday, June 28, covering patients who failed initial treatment. Researchers found malignancy rates within the range doctors typically see in ulcerative colitis patients. The update calmed the safety concern that triggered the June 2 sell-off.
Among patients who failed initial treatment, 37.2% reached clinical remission and 34.5% reached endoscopic remission at week 44. Those results reinforced the drug’s efficacy case in harder-to-treat patients.
Abivax shares have now climbed more than 1,730% over the past year.
Wall Street Splits on the Risk
Analysts did not agree on how much risk remains. Citizens raised its Abivax price target to $187 and kept its Outperform rating, pointing to the drug’s placebo-adjusted remission benefit.
Wedbush took a more cautious view. The firm upgraded Abivax from Underperform to Neutral but cut its price target to $90. Wedbush cited lingering malignancy questions at the 50 mg dose as a regulatory risk.
Abivax still plans to file a new drug application with the FDA in the fourth quarter of 2026. That filing will keep the stock sensitive to any additional safety data before then.
The post From Cancer Scare to Comeback, Abivax Shares Erase a Month of Losses in a Day appeared first on BeInCrypto.
Cryptocurrency corporations have spent $189 million on the 2026 US midterm elections, roughly 37% of all reported corporate election spending, according to a Public Citizen report.
The figure keeps crypto ahead of every other industry in funding federal races this cycle. It reflects a strategy the sector introduced in 2024 that other industries now imitate.
Crypto Leads The Corporate Spending Surge in 2026 Elections
Total corporate spending on the 2026 midterms reached $517 million, according to the watchdog group. That marks a 12% rise over the $461 million corporations spent across the entire 2024 cycle.
“In the 2026 midterm elections, corporate money is poised to play a bigger role than ever before in influencing how Americans vote,” the report read.
Crypto’s $189 million exceeded the combined totals from artificial intelligence and Big Tech firms at $60 million and online betting companies at $45.6 million. Together, these sectors contributed $294 million, or 57% of all corporate spending so far.
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The report frames the trend as a copycat effect. Crypto firms pioneered the model of routing large sums into sector-focused super PACs during the last presidential cycle. AI and gambling companies have since built their own versions.
Where the Crypto Money Went
Fairshake, the crypto-aligned super PAC, received $82 million in corporate contributions. That sum represents 60% of its total 2026 receipts of $135 million.
The Trump-backing MAGA Inc. super PAC drew a separate $56.2 million from crypto donors. Ripple Labs and Coinbase steered $81.5 million toward Fairshake, while Crypto.com, Gemini, and Blockchain.com directed funds to MAGA Inc.
Crypto.com operator Foris Dax alone gave $35 million to MAGA Inc., making it the largest single corporate backer of that committee across all industries. The Winklevoss twins funded a separate Republican-only vehicle, the Digital Freedom Fund, with $21.3 million.
Public Citizen notes that its total likely undercounts real spending, since dark-money groups and state-level contributions escape federal disclosure rules.
Voter Interest Tells a Different Story
The spending contrasts sharply with public sentiment. A Politico poll conducted with Public First found only 4% of Americans weigh a candidate’s crypto position when voting. Just 18% want Congress to prioritize crypto rules.
Another survey found that 41% of respondents said special interest groups hold too much political influence. Whether that skepticism converts into ballot-box pressure against heavily funded candidates remains an open question for November.
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The post Crypto Corporations Fund 37% of All 2026 Corporate Election Spending appeared first on BeInCrypto.
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