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Bitwise Chief Investment Officer Matt Hougan published an analysis, stating that the crypto market is showing signs of a bottom ------ since July 1, Bitcoin has risen by 9% while the Nasdaq has fallen by 6%, ETF fund flows have turned positive, and market sentiment has improved. Hougan believes that the next bull market will be driven by the integration of on-chain finance and traditional finance, with the core sectors being stablecoins, tokenization, 24/7 trading, instant settlement, and institutional DeFi.He suggests focusing on two types of opportunities: one type is crypto-native applications represented by Hyperliquid (HYPE) ------ which have real revenue and a strong token economic model (99% of revenue is used for buybacks and burns of HYPE), which has risen 146% this year; the other type is traditional financial institutions represented by Robinhood (HOOD) ------ whose Layer2 blockchain Robinhood Chain attracted over $300 million in deposits within two weeks of launch, processing an average of 3.6 million transactions daily, supporting 24/7 trading of tokenized stocks for users in 120 countries. Hougan is optimistic about mainstream assets such as Bitcoin, Ethereum, and Solana, as well as crypto stocks, while also paying attention to institutions like Coinbase, Figure, BlackRock, Visa, Stripe, and JPMorgan that are scaling up in the crypto space.

Chinese listed company Zhibao Technology announced that it has signed a non-binding term sheet with Joyer Tech to conduct PIPE financing based on 3,500 bitcoins.

Nigerian President Bola Ahmed Tinubu has signed an executive order to coordinate the regulation of virtual assets, strengthen cooperation among the country's financial, tax, and capital market institutions, and address the fragmentation of digital asset regulation. The executive order establishes a virtual asset committee composed of heads of Nigeria's main financial regulatory agencies, responsible for guiding relevant policies. The Nigerian tax authorities will update digital asset policies and provide more details on their impact on taxpayers.The President's Special Adviser Bayo Onanuga stated that the executive order does not establish new regulatory bodies nor transfer power between institutions; each agency retains its statutory responsibilities and independence, and registration requirements will be determined based on the nature of the activities and the assets involved. A report from the International Monetary Fund (IMF) in June indicated that since 2019, Nigeria has accounted for about 60% of the stablecoin inflows to sub-Saharan Africa; from July 2023 to June 2024, the country's cryptocurrency inflows are estimated to be around $59 billion.

According to CoinDesk, Bitcoin mining company and AI infrastructure developer Hut 8 (HUT) has signed a second phase 15-year lease agreement with the same investment-grade tenant, amounting to approximately $9.8 billion, for its Beacon Point AI data center campus located in Texas, USA.The new agreement will add 352 megawatts of AI computing power based on Nvidia architecture, bringing the total contracted computing power for the tenant in the campus to 704 megawatts and achieving full commercialization of the campus's 1 gigawatt power capacity, raising the total value of the campus's base contracts to approximately $19.6 billion.Boosted by this, the stock prices of IREN, Cipher Mining (CIFR), TeraWulf (WULF), and CoinShares Bitcoin Miners ETF (WGMI) rose simultaneously in early trading.

Nigerian President Bola Tinubu has signed an executive order on virtual assets aimed at regulating virtual assets and combating unregistered operators. The measure has taken effect immediately and will establish a new supervisory framework to coordinate the fragmented regulatory environment.The newly established Virtual Assets Committee will serve as the main policy-making and coordinating body, chaired by the Central Bank of Nigeria (CBN), with the Federal Inland Revenue Service and the Nigerian Securities and Exchange Commission (NSEC) as vice-chairs. An Office of Virtual Assets will be set up within the CBN to handle daily inter-agency operations and information sharing. Securities-related financial activities will be managed by the NSEC, while payment, settlement, and custody services for non-securities virtual assets will be managed by the CBN.The CBN plans to launch a regulatory sandbox that allows qualified operators to test virtual asset products and blockchain solutions in a monitored environment. The Virtual Assets Committee is required to develop an implementation framework for the executive order within 30 days.

New Hampshire Governor Kelly Ayotte recently signed HB 639, the Blockchain Basic Laws, which increases legal protections for digital asset users, developers, miners, validators, and businesses, and protects the rights to use and self-custody of digital assets. The bill also authorizes the establishment of specialized case files for blockchain-related disputes.New Hampshire's 2025 law allows the state treasurer to allocate up to 5% of certain public funds to precious metals and qualified digital assets, with only Bitcoin currently meeting the market capitalization threshold. Texas Governor Greg Abbott signed SB 21 in June 2025, establishing the Texas Strategic Bitcoin Reserve. State legislators allocated $10 million, and Texas subsequently made an initial investment of about $5 million through a spot Bitcoin ETF.Wyoming's 2025 proposal to allow up to 3% of state funds to be allocated to Bitcoin was not approved, but the state continues to advance its specialized banking framework and Frontier Stable Token. FRNT is set to be publicly available in January 2026 and is described as the first state-issued stablecoin in the United States.

ARK Invest released the Q2 2026 Bitcoin report stating that Bitcoin fell by about 14% in the second quarter, dropping below the realized price for short-term holders, the 200-day moving average, and the on-chain average, with the technical outlook remaining bearish. However, the proportion of loss supply rose to about 54%, and the supply of long-term holders increased to a historical high of about 14.85 million BTC, which ARK views as a potential signal of seller exhaustion.The report also pointed out that Bitcoin has not yet fallen back to the on-chain cost range of about $49,000 to $53,000, and the downside risk has not been fully released; the net outflow of the U.S. spot Bitcoin ETF in Q2 was about 71,000 BTC, and the preferred stock of Strategy, STRC, fell to a minimum of $74.57.

According to Bloomberg, researchers at Stanford University have found signs of manipulation in the Polymarket five-minute Bitcoin betting market. The study analyzed contract data over approximately two months and discovered repeated one-way trading pulses on the Binance exchange that briefly affected Bitcoin prices just seconds before the betting ended, benefiting those with aligned positions. The researchers referred to this pattern as "temporary manipulation to drive up spot prices" and pointed out that such contracts have structural vulnerabilities—participants can influence the outcome by trading the underlying asset itself that determines win or loss.A Polymarket spokesperson stated that the platform uses multiple independent price oracles to ensure accuracy and plans to transition some markets to a settlement method using longer time windows next year to enhance market integrity. The study estimates that suspected manipulators profited about $8.2 million over two months, primarily from losses incurred by retail traders. Similar patterns are not evident in the 15-minute market, where longer time windows make it more difficult to influence outcomes.

New Hampshire Governor Kelly Ayotte signed HB 639 into law last week. The bill is known as The Blockchain Basic Laws, which provides protection for cryptocurrency innovation and use in the state, and allows for the establishment of special blockchain dispute case files in the superior court.New Hampshire passed a strategic Bitcoin reserve bill last year, allowing the state treasurer to invest up to 5% of public funds in Bitcoin, as well as precious metals like gold and silver. The state's executive council rejected a proposal last week that would have allowed the New Hampshire Business Finance Authority to promote Bitcoin-supported municipal bonds.

According to CoinDesk, Grayscale's Chief Financial Officer Edward McGee has resigned for personal reasons, effective July 2. The company stated that his departure was not due to any disagreements regarding the company's operations, policies, or practices, and appointed Kathryn Masci and Daniel Plourde as interim co-Chief Financial Officers, with Masci also serving as Chief Financial and Accounting Officer and joining the board. This personnel adjustment comes months after the departure of John Hoffman, the head of distribution and partnerships, who joined Ondo Finance. Currently, Grayscale has suspended its IPO preparations, having previously submitted a confidential application for a U.S. listing last November.

According to an 8-K filing submitted to the SEC, AVAX One Technology (AVX), a Nasdaq-listed digital infrastructure company, announced that CEO Jolie Kahn resigned on July 3, and COO Pete Wylie has been appointed as interim CEO. The company stated that the departure was "mutually agreed upon" and did not involve any operational, policy, or practical disagreements. Under the separation agreement, Kahn will receive a one-time cash compensation of $160,000 and common stock valued at $250,000. The board has engaged global executive search firm ZRG Partners to find a permanent successor.This leadership change comes as AVAX One faces compliance pressure from Nasdaq, as the company previously received a notice for its stock price falling below the minimum requirement of $1. Shareholders approved a 1:12 reverse stock split on May 29, which took effect on June 15. AVAX One's main business includes mining Bitcoin in Alberta and Ohio with approximately 300 PH/s of computing power, holding a strategic treasury of AVAX to earn staking rewards, and building modular data centers aimed at AI and high-performance computing.

According to Decrypt, Bitcoin mining company TeraWulf has signed a 20-year lease with Anthropic to build an approximately 401 MW AI data center park at the Justified Data campus in Hawesville, Kentucky, USA, which is expected to generate about $19 billion in revenue.Under the agreement, the first phase of the campus is expected to go live in the second half of 2027 and reach full capacity in early 2028. TeraWulf stated that the lease is expected to receive investment-grade credit rating support. In addition, TeraWulf has sold its 50.1% stake in the Abernathy Joint Venture to a group led by partner Fluidstack, exiting its approximately $450 million investment at a premium.Following the announcement, TeraWulf's stock price surged nearly 14%, and the stock prices of Bitcoin mining companies such as IREN, Hut 8, and Cipher Digital also rose by more than 10%, respectively.

According to official news, Bitdeer announced that its wholly-owned subsidiary Tydal Data Center AS has signed a hosting lease agreement for the Tydal artificial intelligence data center site in Norway.The agreement has not yet come into effect and still needs to meet several prerequisites, including the counterparty completing arrangements with some external clients and suppliers. The company expects to disclose the commercial terms and anticipated business impact within a month after the agreement officially comes into effect.

According to on-chain detective ZachXBT's monitoring, it was found that signs of mixing appeared in the funds stolen from the Humanity Protocol and Kelp DAO vulnerability attacks one hour ago, indicating that there may be an overlap between the attackers of these two incidents.Based on this new evidence, it can be largely ruled out that the theft case of Humanity Protocol was committed by an insider.

In the past 24 hours, the cryptocurrency derivatives market experienced massive liquidations, with a total liquidation amount of approximately $1 billion, and Ethereum's liquidation amount exceeded that of Bitcoin. At the same time, Bitcoin contract open interest rose for the second consecutive day to 778,000 BTC, with a sharp increase in open interest at the end of Thursday indicating that Bitcoin traders are adding short positions in a downtrend. In contrast, Ethereum contract open interest has remained stable at around 14 million ETH since June 15, and Ethereum traders have not actively shorted during the decline.The 24-hour cumulative trading volume difference adjusted for open interest shows that short positions continue to dominate among the top 25 cryptocurrencies, with only BNB, SOL, and TON as exceptions. Meanwhile, the 30-day annualized implied volatility index for Bitcoin surged to 53%, the highest since June 7; the volatility index for Ethereum rose to 66%. In the cryptocurrency options market, last week the skew for Bitcoin options approached 30%, with significant premiums for put options. In large trades, put options with a strike price of $53,000 expiring on July 10 have appeared, reflecting strong demand for downside hedging.

The Nasdaq-listed Ethereum treasury company Sharplink announced that it has signed a securities purchase agreement to sell 10,013,400 shares of common stock and corresponding warrants for 10,013,400 shares of common stock, raising approximately $75 million in total. The funds will be used for working capital, to continue accumulating ETH assets, and to repurchase company shares under the stock repurchase plan.Sharplink also disclosed that as of June 16, the company held a total of 875,776 ETH.

According to FinanceFeeds, Hyperscale Data has signed its first master service agreement to provide 20 megawatts of AI computing power at its data center campus in Michigan, with the contract potentially generating over $1.2 billion in revenue over its entire term.The 20 megawatts of critical AI computing power covered by the agreement is expected to be operational by the fourth quarter of 2026. The initial term of the agreement is 10 years, with two 5-year extension options, and if the maximum term is exercised, it is expected to generate over $1.2 billion in revenue.Currently, the campus still operates approximately 28 megawatts of Bitcoin mining capacity, and the company expects to allocate more share to AI. As of June 21, Hyperscale Data holds 726.94 Bitcoins through Sentinum and Ault Capital Group, valued at approximately $45.9 million.

On Monday, U.S. President Trump signed two executive orders aimed at accelerating the development of U.S. quantum computing capabilities and advancing the government's transition to post-quantum cryptography. Although the executive orders did not directly mention Bitcoin, industry insiders believe this could benefit the blockchain's post-quantum security research and development.The two executive orders focus on defending against advanced cryptographic attacks and promoting cutting-edge quantum innovation. They include a clear timeline: to advance the construction of quantum sensors by September 2028 and require federal high-value assets and high-impact systems to complete the transition to post-quantum cryptography by the end of 2031. Project Eleven CEO Alex Pruden stated that this means the U.S. government will invest time and resources to achieve post-quantum security goals and may extend related requirements to the entire federal contractor system, not just limited to government agencies, thereby accelerating the implementation of post-quantum cryptographic technology.At the time of this policy announcement, the blockchain industry’s concern about quantum threats continues to rise. Organizations like the Ethereum Foundation and the Solana Foundation have begun advancing post-quantum security research and development, while the Bitcoin community is also discussing potential risks. Some publicly exposed Bitcoin addresses are believed to face the risk of private keys being derived once powerful quantum computers emerge in the future. Pruden pointed out that this executive order clearly sets the deadline for adopting post-quantum cryptography as 2031, which is more binding than the previous guidance from the U.S. government that proposed phasing out traditional cryptographic systems by 2035. For Bitcoin and the broader cryptocurrency industry, government investment in post-quantum security may accelerate the maturity of related tools, standards, and migration paths.

According to Jinshi reports, SpaceX has signed a computing power agreement with the American AI startup Reflection, with a transaction amount of up to 6.3 billion dollars.