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According to Globenewswire, the Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) has completed the issuance of $458 million in convertible preferred notes, with a coupon rate of 1.25%, maturing in 2032, and an initial conversion price of approximately $7.41 (a 25% premium over the closing price on June 4). Part of the raised funds will be used to purchase capped call options to hedge against dilution risk at the time of note conversion.Keel stated that the existing liquidity is expected to be sufficient to develop the Panther Creek, Sharon, and Moses Lake projects through leasing, and this fundraising will enhance the company's flexibility for general corporate purposes such as long-term equipment deposits or collateral for data center project letters of credit.

The State Duma of Russia has passed a cryptocurrency tax reform bill submitted by the government in the first reading, aiming to further clarify the tax rules related to digital assets. According to the draft, the taxable base for cryptocurrency transactions will be calculated based on the positive difference between income and costs, allowing investors to offset gains and losses from digital currencies and foreign digital rights assets within the same tax period.The bill also requires brokers and trust management institutions to fulfill the obligation of withholding and paying personal income tax in cryptocurrency and foreign digital rights transactions, and to retain relevant transaction vouchers for at least five years. At the corporate level, except for cryptocurrency mining, income and expenditure related to foreign trade involving digital assets will be included in the corporate income tax base, and foreign digital rights assets will also be treated as cryptocurrency for tax purposes.In addition, the Budget and Tax Committee of the State Duma of Russia has suggested further amendments to the bill in the second reading, requiring licensed cryptocurrency exchange platforms to assume tax agency functions, directly withholding personal income tax when users buy and sell cryptocurrencies. If the final legislation is passed, Russia's regulatory system for digital asset taxation will be further improved.

An analysis published by Fortune magazine points out that despite the recent decline in Bitcoin dragging down the stock price of Strategy (MSTR), the company's current market value still has a premium of about 31% over its underlying net asset value.The analysis believes that this premium stems from the market's past recognition of Michael Saylor's "Bitcoin appreciation flywheel" model, but as this model becomes ineffective, the related premium faces further compression risks.

According to Crypto In America, the U.S. House of Representatives' fundraising committee will hold a hearing on cryptocurrency tax reform this Tuesday, reviewing seven discussion drafts covering aspects such as stablecoin trading, mining and staking, crypto lending, wash sale rules, charitable donations, and taxpayer disclosures. Essentially, this breaks down the previously proposed "Digital Asset Equality Act" into multiple independent pieces of legislation.Meanwhile, negotiations on the Senate's "Clarity Act" are still ongoing. Senator Lummis stated that the bill is more likely to advance after Congress reconvenes on July 13, with core disagreements focused on ethical clauses, DeFi regulatory language, and stablecoin yield issues. The banking industry continues to lobby against stablecoin yield clauses, while over 200 crypto organizations have jointly written to urge the swift advancement of the bill for a vote.In addition, Illinois plans to impose a 0.2% tax on digital asset transactions, which has sparked strong opposition from industry groups, warning that this move will drive crypto companies out of the state.

BitcoinTreasuries.NET posted on platform X that MetaPlanet MPJPY allocated $5.41 million from surplus capital to pay dividends on its perpetual preferred stock MERCURY to its institutional shareholders. The company's Bitcoin revenue business has established a revenue base that can fund the preferred stock dividends.

In response to Radha Stirling's claims about multiple Dubai crypto figures being abused in UAE detention centers, on-chain investigator ZachXBT stated that the individuals referred to as "crypto entrepreneurs" are actually threat actors suspected of involvement in high-impact social engineering crypto scams and data extortion. Law enforcement has seized $18.9 million in stolen funds.

According to CoinDesk, Ethereum co-founder and ConsenSys CEO Joe Lubin stated that the recent controversies surrounding budget cuts at the Ethereum Foundation (EF), employee departures, and leadership adjustments do not indicate that the organization is in crisis, but rather represent a necessary evolution in its development process.The Ethereum Foundation should focus on maintaining the core technology and values of the network, preserving a "trustworthy neutrality" position, while responsibilities such as ecological expansion, institutional collaboration, and commercial promotion should be undertaken by other organizations to avoid potential conflicts of interest between protocol development and commercial interests.In response to external doubts about the direction of the foundation's reforms, Lubin noted that many criticisms stem from misunderstandings of the foundation's role. He pointed out that the Ethereum Foundation is promoting further separation between protocol governance and commercial operations, and the future Ethereum ecosystem will not be dominated by a single entity, but rather multiple organizations will take on ecological construction responsibilities in different areas, collectively driving network development. This model differs from some blockchain projects that concentrate protocol development and business strategy within the same entity, aligning more closely with Ethereum's decentralized development philosophy.Regarding market views that "Ethereum is declining," Lubin denied this. He stated that in recent years, artificial intelligence has replaced the cryptocurrency industry as the most关注的技术叙事 in the capital market, leading to a shift in funding and investment focus, but this does not mean that Ethereum has lost its competitiveness.On the contrary, after years of scaling and infrastructure development, Ethereum is gradually becoming capable of supporting the next wave of large-scale adoption and is expected to usher in a new growth cycle in the future.

According to PR Newswire, Bitmine Immersion Technologies announced that the expanded Series A perpetual preferred stock issuance is priced at 3.5 million shares, at $80 per share, with settlement expected to be completed on June 10, raising a net amount of approximately $273.8 million.The company stated that the funds will be used for general corporate purposes, including increasing holdings in ETH and other digital assets, expanding staking and validation infrastructure, advancing related layouts through MAVAN, working capital, strategic investments related to the Ethereum ecosystem and digital asset adoption, as well as common stock repurchase. The Series A preferred stock has a dividend yield of 9.50% per annum.

According to Globenewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) announced plans to raise $400 million through the issuance of convertible preferred notes. This issuance is expected to be completed around June 9, 2026, but is subject to market and other closing conditions. The raised funds will be used to pay for related capped call transaction costs and general corporate purposes, including long-term equipment deposits and credit guarantees for data center construction. If the underwriters exercise their over-allotment option, a portion of the net proceeds will be used for additional capped call transactions, with the remainder allocated for general corporate purposes.

Bitcoin Treasury Capital announced the launch of Sweden's first BTC-backed preferred stock, BTC PREF, with an annual dividend of 10%, expected to start trading on July 20 on the Spotlight Stock Market.This issuance is expected to raise $2.5 million to purchase more BTC.

According to a report by Reuters, Reform UK, led by Nigel Farage, raised £9.3 million in the first quarter of 2026, surpassing the fundraising scale of major UK political parties for the third consecutive quarter, with some of the funds coming from large donations by cryptocurrency investors.

Bitmine Immersion Technologies announced plans to issue 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, expecting to raise a total of $300 million. The initial liquidation preference of the preferred stock is $100 per share, and dividends will accumulate at an annualized rate of 9.5%, paid in cash on a weekly basis; even if the company does not declare dividends or temporarily lacks distributable funds, dividends will continue to accumulate.Bitmine has the right to redeem early, redeemable at 110% of par value within 18 months after issuance, at 105% of par value between 18 months and 3 years, and at 100% of par value after 3 years, with additional payment required for accumulated unpaid dividends at the time of redemption.

According to BusinessInsider, billionaire investor and hedge fund founder of Third Point, Dan Loeb, stated in a podcast that current market concerns about the "bubble theory" of artificial intelligence (AI) are greatly exaggerated, and the development stage of the AI industry is completely different from that of the internet bubble period.Loeb pointed out that technology giants, including Alphabet, Microsoft, Amazon, and Meta, have collectively exceeded $700 billion in capital expenditures this year, which may reach $1 trillion next year, with the vast majority allocated for AI infrastructure development. He stated that to believe these capital expenditures will not yield returns is equivalent to thinking that companies are "burning money for no reason," but currently, these companies have strong profitability and ample cash flow, allowing them to support investments with their own balance sheets.Loeb emphasized that this is different from the situation during the internet bubble when "valuations detached from fundamentals," and does not constitute a traditional valuation bubble. He also mentioned that AI companies like Anthropic are experiencing rapid revenue growth and accelerated product applications, indicating that the industry is still in the early stages of expansion.Reports indicate that Anthropic's latest financing valuation is nearing $965 billion, with annualized revenue jumping from $14 billion to $47 billion, further strengthening market confidence in the commercialization potential of AI.However, there are still some investors in the market, including Michael Burry, who express concerns about the overheated valuations of AI, believing that massive investments may struggle to yield corresponding returns. Loeb, on the other hand, stated, "We haven't even scratched the surface of AI development," and believes that we are still in the early stages of long-term growth.

U.S. SEC Chairman Paul S. Atkins stated during a speech at the 2026 Reagan National Economic Forum that the U.S. Securities and Exchange Commission is advancing the "New Era of the SEC" regulatory reform, focusing on modernizing digital asset regulation, promoting the development of on-chain capital markets, and supporting the U.S. to become a "global crypto hub."Paul Atkins criticized the previous SEC's "regulatory hostility" towards the digital asset industry, stating that a large amount of crypto innovation was forced to move overseas as a result. He mentioned that with the support of the Trump administration, the SEC has launched "Project Crypto" and is collaborating with the U.S. Commodity Futures Trading Commission to promote on-chain market infrastructure and coordinate crypto regulation.The SEC has recently clarified which digital assets are considered securities and which are not, and is advancing an innovative exemption mechanism for "tokenized listed securities," while also studying how on-chain trading systems can fit within the existing regulatory framework.In addition, Paul Atkins emphasized that the SEC will reduce "over-disclosure" and regulatory burdens, promoting the "Make IPOs Great Again" reform, which includes lowering compliance costs for listed companies, increasing IPO flexibility, and formally proposing the repeal of climate disclosure rules introduced during the previous administration. The future of the U.S. capital markets should be built on a foundation of "free markets and innovation-driven" principles, and the role of regulatory agencies should be to provide clear rules and legal certainty, rather than suppressing technological development.

According to Cointelegraph, Arca Chief Investment Officer Jeff Dorman stated that Strategy's current approximately $15 billion preferred stock financing structure has become "unmanageable." He pointed out that these preferred stocks require about $1.5 billion in dividends each year, and with the ongoing volatility in Bitcoin prices, this structure is becoming increasingly difficult to maintain.Strategy's financing model is based on the premise that "BTC will continue to rise significantly." Although the company previously alleviated short-term default risks by issuing additional shares, its decision to repurchase bonds maturing in 2029 is perplexing. He indicated that Strategy may ultimately have only two options: sell BTC to pay preferred stock dividends or stop paying dividends, both of which would have significant impacts on the company and investors.Meanwhile, Strategy CEO Phong Le stated in an interview with CNBC that the company "may sell Bitcoin" at some point in the future, but overall will continue to increase its BTC holdings and enhance the amount of BTC corresponding to each share.Polymarket data shows that the market now estimates the probability of Strategy selling some BTC by the end of 2026 has risen to about 90%. As of now, Strategy holds a total of 843,738 BTC, with a total cost of approximately $63.87 billion and an average purchase price of about $75,700.

According to CoinDesk, Strategy perpetual preferred stock STRC (Stretch) fell to a low of $97.11 on Thursday, then rebounded to $98.57, failing to maintain the par value of $100. The pressure on STRC mainly comes from Bitcoin's drop to around $73,000, compounded by the effects of the ex-dividend date.Recently, Strategy spent $1.5 billion to repurchase zero-coupon convertible bonds maturing in 2029, causing cash reserves to plummet from about $2.25 billion to $871 million. Based on an annual preferred stock dividend obligation of about $1.7 billion, the current cash can only cover about 6 months, far below the previously set target of 24 months. Executive Chairman Michael Saylor stated that the company will raise funds by selling Bitcoin, issuing additional shares when MSTR's stock price exceeds 1.22 times NAV, or continuing to issue STRC.Meanwhile, competitor Strive Asset Management's perpetual preferred stock SATA continues to anchor at a par value of $100, offering about a 13% dividend yield, and plans to launch a daily dividend mechanism, having completely eliminated debt. Over the past three months, Strive's stock price has increased by about 110%, significantly outperforming MSTR's 12% increase and Bitcoin's 8% increase.

According to monitoring by BitcoinTreasuries.NET, Strive's preferred stock SATA reached a record high daily Bitcoin accumulation yesterday, totaling 402 bitcoins, which accounts for 51% of its total Bitcoin accumulation over the previous week, marking the largest single-day accumulation since its IPO.

According to Decrypt, the Digital Chamber has written to OCC Director Jonathan Gould, urging him to stick to the decision to grant national trust bank charters to crypto companies like Coinbase, Ripple, and Circle.Previously, Senator Elizabeth Warren accused the approval of these charters of violating the National Bank Act and posing a threat to the safety of the U.S. banking system. The Digital Chamber countered that Congress has effectively authorized the OCC to extend bank charters to stablecoin businesses through the GENIUS Act, and that the approved companies do not accept FDIC-insured deposits, thus not constituting traditional banking operations.