rns

Due to SpaceX's market value exceeding $2.5 trillion after its IPO last week, creditors of the bankrupt cryptocurrency exchange FTX may benefit from this. Before FTX's collapse in 2022, it had invested $190 million in SpaceX through a fund from the venture capital firm K5 Global. Creditor representative Sunil Kavuri stated that based on SpaceX's current market value, FTX's investment exposure in SpaceX could be worth billions of dollars. Previously, FTX's Chief Executive Officer John J. Ray III had indicated that the performance of the co-investment with K5 Global would be a key driving force in the asset recovery efforts.

Bitcoin continues to be under pressure amid macro uncertainty and institutional funds' wait-and-see sentiment, with prices hovering around $64,500, down about 2% for the day. The market is awaiting the results of the Federal Reserve FOMC meeting, which will be chaired by Kevin Warsh for the first time, with widespread expectations that interest rates will remain unchanged in the range of 3.5% to 3.75%. Analysts point out that the focus of this meeting has shifted from "whether to cut interest rates" to "policy path and inflation signals." Current U.S. inflation is still considered to be at a near three-year high, and changes in energy prices and geopolitical situations have kept the market cautious about future policy directions. On-chain and institutional pressure is showing synchronized signs.Concerns surrounding Strategy (formerly MicroStrategy) continue to ferment, with its preferred stock STRC dropping to $91.79 on June 16, over 8% below its par value of $100, seen as a signal of weakened corporate Bitcoin buying power. Although the spot Bitcoin ETF recorded a net inflow of about $10.1 million on June 16, with BlackRock's IBIT contributing the main increment, the scale of funds is still significantly lower than in previous phases, indicating limited buying momentum. Market research firms Bitfinex and QCP point out that Bitcoin's recent rebound is more of a "technically driven recovery due to exhausted selling pressure," rather than driven by new demand.In the derivatives market, implied volatility for options has risen, and skew has shifted towards bearish protection, indicating that traders are pricing in tail risks. In terms of price structure, Bitcoin is currently considered to be oscillating in the range of $60,000 to $68,000. If the Federal Reserve signals a more hawkish stance or institutional buying weakens further, it may pull back to the $62,000 to $63,000 range. Overall, the current market presents a combination structure of "macro waiting + institutional marginal weakening + enhanced derivatives defense," with the short-term direction still relying on FOMC policy signals and the situation of ETF and corporate funds flowing back in.

According to The Block, the International Monetary Fund (IMF) stated that the widespread adoption of dollar-pegged stablecoins in Nigeria is challenging the country's existing monetary policy and regulatory framework.The IMF pointed out that the devaluation of the naira, high inflation, and limited access to official foreign exchange are driving local households and small to medium-sized enterprises to turn to stablecoins for cross-border payments and to hedge against exchange rate risks.

According to a report by Crowdfund Insider, the first public report released by the G7 Central Bank Quantum Technology Working Group (QTWG) indicates that quantum computing technology could have a profound impact on the global financial system, particularly posing structural challenges in the fields of data encryption and cybersecurity. The working group was established in 2025, co-led by the Bank of France and the Bank of Canada, with members including the Federal Reserve, the European Central Bank, the Bank of England, the Bank of Japan, and major central banking institutions from Germany, Italy, and others.The report points out that although quantum computers capable of breaking encryption have not yet emerged, there is a general belief in the industry that the likelihood of their appearance within the next decade is increasing, which poses potential risks to existing financial infrastructure that relies on traditional encryption algorithms. One core risk is referred to as the "collect now, decrypt later" strategy, which involves the long-term storage of currently encrypted financial data, with the intention of decrypting it once quantum computing capabilities mature, potentially threatening the long-term data security of the financial system.The report recommends that financial institutions in various countries proactively compile a list of their reliance on encryption systems and gradually assess the feasibility of transitioning to post-quantum cryptography, while also strengthening inter-agency coordination to reduce systemic risk exposure. In terms of opportunities, quantum computing is expected to enhance the computational capabilities of financial institutions in areas such as risk modeling, portfolio optimization, macroeconomic forecasting, and stress testing, but its practical application still depends on technological maturity and scaling progress.Analysts believe that this report marks the beginning of G7 central banks systematically incorporating quantum technology into their financial stability assessment framework, which may drive long-term upgrades of global financial infrastructure at the encryption and computational architecture levels.

The advisory committee of cryptographic experts led by Coinbase has released a report stating that Bitcoin should immediately begin preparing for potential quantum computing attacks. However, the committee did not take a clear stance on whether to freeze the millions of Bitcoins that could potentially be stolen by quantum computing in the future.It is reported that the committee members include several leading experts, such as Ethereum Foundation researcher Justin Drake, who believe that the current focus of the debate is not on how to introduce quantum-resistant signature technology, but rather on how to handle the Bitcoins that have not been migrated for a long time. One viewpoint calls for setting a deadline, after which the existing ECDSA and Schnorr signature schemes for Bitcoin will cease to be supported, and un-migrated assets will be frozen to prevent future quantum attackers from acquiring large amounts of BTC and impacting the market. Another viewpoint argues that this amounts to asset confiscation, contradicting Bitcoin's core principles of "immutability and user complete control of assets," and could set a precedent for freezing assets in the future due to regulatory pressure.The Coinbase advisory committee pointed out that the aforementioned proposals are not mutually exclusive and can be combined, but it refused to take a position on the issue of "whether to freeze legacy BTC," believing that the final decision should be governed by the Bitcoin community. At the same time, it emphasized two points: first, the technical development of quantum-resistant signature migration should be initiated immediately and should not wait for the governance debate to conclude; second, it is necessary to clearly communicate risk information to users to avoid long-term uncertainty affecting the Bitcoin ecosystem.

The Bank of Japan will hold a key monetary policy meeting next Tuesday, with the market widely expecting an interest rate hike of 25 basis points to 1%, marking the highest interest rate level since 1995 and signaling a further move towards normalization of Japan's monetary policy. However, uncertainty surrounding this meeting has significantly increased. Governor Kazuo Ueda will be absent from the meeting and the subsequent press conference due to health reasons, with communication responsibilities taken over by Deputy Governor Shinichi Uchida, raising market concerns about changes in policy wording and forward guidance.Currently, the USD/JPY has risen above 160, nearing a two-year high and approaching the intervention zone. Traders generally believe that, given the market has fully priced in the interest rate hike expectations, the real key lies in the central bank's stance on the future path of interest rate hikes. Institutional analysis indicates that if the Bank of Japan releases dovish signals, it could further weaken the yen and push up Japanese government bond yields; conversely, if it shows a clearer tightening tendency, it would help stabilize exchange rate expectations.At the same time, Japan is facing multiple constraints such as rising imported inflationary pressures, fluctuations in energy prices, and expectations of fiscal expansion, making the policy path more complex. The latest data shows that Japan's core inflation has risen to 3.5%, reaching a new high for this phase. Analysts believe that this meeting is not only a point for interest rate adjustments but may also serve as an important observation window for changes in the Bank of Japan's policy communication framework, with the Deputy Governor's statements directly influencing the short-term direction of the yen and global interest rate markets.

According to The Block, Bernstein analysts stated that the 2026 FIFA World Cup will be the largest catalyst for the prediction market industry to date, expected to bring in over $3 billion in incremental betting volume and a $5-10 billion increase in consumer prediction market trading volume.The agency previously predicted that the prediction market industry would reach a trading volume of $1 trillion by 2030, with an estimated $240 billion in 2026 alone. Analysts believe that platforms such as DraftKings, Robinhood, and Coinbase will significantly benefit from the World Cup, with Robinhood's prediction market business expected to see a year-on-year revenue growth of 286% in 2026.

According to Jinshi, the CPI data for May in the United States shows that inflation has soared to a three-year high, but the moderate rise in core prices has eased Wall Street's concerns about interest rate hikes. Today's CPI data and tomorrow's PPI index are expected to influence the Federal Reserve's policy stance, which will be announced at the Federal Reserve meeting hosted by Waller for the first time in a week. According to the CME FedWatch, the market expects a 70% probability of the Federal Reserve raising interest rates by the end of 2026, but believes that an interest rate hike is almost impossible at next week's meeting, with only a 13% probability of a rate hike in July.

According to Jinshi reports, economists Durie and Wong expect that the overall CPI data for the U.S. in May will perform strongly, but core inflation should remain moderate, with its month-on-month increase in line with the 2% inflation target. Although supply shocks have driven up prices for airline tickets, home appliances, and electronic products, the softening inflation in the non-essential services sector indicates that consumers are cutting back on non-essential spending. A moderate core inflation figure will ease market concerns about the Federal Reserve raising interest rates, and economists still expect the Federal Reserve to cut rates by 25 basis points in the fourth quarter of this year.

According to CoinDesk, Wall Street brokerage Bernstein released a research report indicating that the main driver of Bitcoin's price weakness in 2026 is a slowdown in capital flows, rather than the market's concerns about the threat of quantum computing.The report shows that this year, Bitcoin treasury companies and ETFs attracted approximately $12 billion in inflows, a significant decrease from $60 billion in 2025; ETFs recorded about $2.6 billion in net outflows based on an asset scale of $75 billion, with new demand primarily coming from corporate buyers represented by Strategy (MSTR). Bernstein analysts attribute the slowdown in funds to a large influx of retail investors into AI-related assets, with this year's strongest performance in the crypto market concentrated in tokenized stocks and commodities.Nevertheless, analysts believe that the scale of ETF outflows remains moderate, and the structure of Bitcoin investors has shifted from being dominated by retail investors to a more diverse group including ETFs, corporate treasuries, wealth management platforms, pension funds, and sovereign investors, resulting in a healthier market structure, with the long-term value storage logic remaining intact.

According to Jinshi reports, Capital.com analyst Daniela Hathorn stated in a report that investors are closely watching the upcoming inflation data to assess the potential direction of future central bank interest rate decisions.She pointed out that market expectations for a rate hike by the Federal Reserve before the end of the year have risen significantly over the past week, so the inflation data could reinforce or challenge this repricing expectation. LSEG data shows that investors have fully priced in a 25 basis point rate hike by the Federal Reserve by the end of 2026.

According to the official announcement, Gate's holding interest program has launched with USD1 and has a limited-time financial activity. During the event, users holding USD1 in their asset accounts can automatically participate in the profit plan, enjoying up to 20% annualized returns. The minimum holding requirement is only 1 USD1, and users can earn daily profits without locking their funds, balancing liquidity and profit experience.As the industry's first platform for contract holding interest, Gate has achieved comprehensive coverage of both spot and contract tracks. Gate's holding interest supports over 20 mainstream crypto assets, including USDT, BTC, ETH, SOL, FLR, ATOM, etc., meeting the diverse asset allocation needs of different users. Users can continuously earn profits without additional operations, without affecting the use of trading, withdrawal, and other functions, achieving a more efficient utilization of funds.

Crypto journalist Eleanor Terrett revealed that three informed sources disclosed that U.S. government officials will hold a meeting with law enforcement groups at the White House on Wednesday to address concerns that certain provisions in the Clarity Act (including developer protection provisions derived from the Blockchain Regulatory Certainty Act) may increase the difficulty of cracking down on illegal finance.This issue, along with the ethical provisions, is one of the main obstacles that must be resolved before the bill is submitted for a full vote in the Senate. Several Democrats have stated that they will not support the bill unless the concerns of law enforcement are adequately addressed. Prior to this meeting, the crypto industry has conducted broader outreach, including holding town hall meetings and inviting former law enforcement officials currently working in the crypto industry to participate in lobbying.

According to The Block, Bernstein analysts stated that despite a cumulative net outflow of $2.6 billion from Bitcoin spot ETFs in 2026, the long-term argument for Bitcoin as a store of value has not changed.Since the beginning of this year, the net inflow into ETFs and corporate treasuries has been approximately $12 billion (about $60 billion in 2025), with corporate treasuries being the main driving force. Glassnode data shows that 61% of the circulating Bitcoin supply has been idle for over a year.The accumulation of corporate funds is the main force offsetting ETF liquidations, with Strategy raising $7.5 billion through STRC preferred stock products to acquire approximately 100,000 Bitcoins, and its $53 billion Bitcoin position can cover more than 30 times STRC's annual cash dividends of $1.2 billion.Analysts added that although Bitcoin inflows have slowed, capital is shifting towards real-world asset (RWA) tokenization-related infrastructure, with platforms like Hyperliquid seeing significant growth in trading volume in tokenized stocks and commodities markets.

According to The Block, JPMorgan analysts stated in their latest report that although Strategy's previous sale of 32 bitcoins caused market fluctuations, it was merely a symbolic operation, and the real issue lies in the lack of demand from new investors.The report pointed out that Strategy's current dollar reserves are only sufficient to cover about 6.3 months of preferred stock dividends, and it is recommended that they rebuild their dollar reserves to restore investor confidence. JPMorgan also lowered its expectations, believing that the likelihood of the U.S. crypto market structure bill (Clarity Act) passing this year is now below 50%, and has shifted to a cautious stance on digital assets as a whole.Nevertheless, analysts still expect Strategy to continue buying bitcoins and believe that the current market weakness may become a bullish reversal signal in the future.

On-chain analyst PlanB expressed the view on the X platform that, from the ETH/BTC comparison chart, Ethereum's overall performance over the past decade has been significantly weaker than Bitcoin.Data shows that the current ETH/BTC ratio is approximately 0.026, which is comparable to the level in March 2016, indicating that ETH has returned to the value position it held relative to BTC ten years ago. During the Bitcoin bull market of 2023/2024, ETH did not experience a significant increase, a similar situation also occurred in 2017 and 2021, and even now, Ethereum still lacks upward momentum relative to Bitcoin.