tail

According to BBX data, yesterday the intertwining news of traditional finance's entry into cryptocurrency and corporate reserve exits presented the following core dynamics:SoFi Technologies, Inc. (NASDAQ: $SOFI) announced through a BusinessWire official press release that its SoFiUSD stablecoin has officially opened to approximately 14.7 million members within the SoFi app, supporting buying, selling, holding, and conversion, becoming the first national bank in U.S. history to embed its own stablecoin within a banking app (the issuer is SoFi Bank, N.A., regulated by the OCC). SoFiUSD (on-chain code SOFID) is pegged 1:1 to the U.S. dollar and can be used on the Ethereum and Solana networks, with reserves backed by liquid assets and subject to regular independent CPA audits; in the coming weeks, tokenized deposits and 24/7 cross-border transfer functions will be launched, and an institutional trading channel will be opened in collaboration with Bullish exchange. SoFi CEO Anthony Noto stated, "Users no longer have to choose between blockchain technology and regulated bank products." The company's Q1 2026 crypto trading revenue reached $121.6 million, with a net income of approximately $852,000 after costs; SoFiUSD is not insured by FDIC or SIPC, does not constitute legal tender, and on-chain transactions are generally irreversible.Coinbase Global, Inc. (NASDAQ: $COIN) and the prediction market platform Kalshi announced that the two platforms have received approval from the CFTC to launch cryptocurrency perpetual contract products for U.S. customers, becoming the first exchanges approved to offer such products within the U.S.; this move by the CFTC officially brings perpetual contracts from a regulatory gray area into the federal derivatives legal framework, and a policy statement was released simultaneously, indicating that future applications for perpetual contracts in other asset classes will be reviewed on a case-by-case basis. In 2025, the global trading volume of cryptocurrency perpetual contracts reached $61.7 trillion (up 29% year-on-year, according to CryptoQuant data), and the U.S. previously lacked regulated domestic trading venues. This approval is expected to drive a significant amount of institutional and retail funds back from offshore platforms to compliant channels in the U.S., with several other exchanges expected to follow suit with applications.Sequans Communications S.A. (NASDAQ: $SQNS) CEO Georges Karam clearly announced during the recent Q1 2026 earnings call that the company has completely terminated its previously initiated Bitcoin treasury reserve strategy. The company began its cryptocurrency layout in June 2025, raising approximately $384 million through debt and equity financing, and quickly accumulated 3,000 BTC by the end of July 2025; however, the crypto market crash in October 2025 triggered the company to deleverage, selling 970 BTC in November 2025 and another 1,025 BTC in Q1 2026; as of now, it holds approximately 658 BTC (completely debt-free, worth about $46.8 million), and the company stated it will gradually liquidate over time, with all funds returning to its core chip business. Sequans is an IoT/5G semiconductor company, and this case is one of the most significant "failed corporate Bitcoin reserve strategy cases" in 2026.

According to The Block, Kraken's parent company Payward's xStocks framework will launch a service that allows Kraken and partner platform users to participate in U.S. stock IPOs at the offering price and receive on-chain tokenized shares corresponding 1:1 with the underlying stock, which is held by a regulated custodian.Users can submit non-binding subscription intentions through partner platforms weeks before the IPO. Payward will aggregate demand and collaborate with the underwriting team to allocate shares, completing pricing, allocation, and token issuance on the listing day.xStocks tokens can circulate across multiple chains such as Ethereum, Solana, and TON, and can be used in combination with DeFi protocols.

According to Cointelegraph, Swan Bitcoin CEO Cory Klippsten stated in an interview that although institutional investors' participation in the cryptocurrency space is increasing, it is very important to pay attention to retail sentiment towards Bitcoin, as Bitcoin holdings are far from being concentrated. "Bitcoin is not monopolized like BlackRock or Fidelity; in fact, it is primarily purchased by numerous retail accounts."

The cryptocurrency market research organization Santiment stated that ETH has fallen below $2000 for the first time since March 29. Typically, after a significant price drop, the market exhibits two typical sentiments: one is retail investors falling into FUD due to weak performance, and the other is FOMO sentiment viewing the drop as a "discount buying opportunity." Santiment pointed out that the market is currently experiencing the latter. As ETH breaks below a key psychological support level, a large number of retail investors are starting to "buy the dip."They believe this usually indicates that the price of ETH may still have further room to decline, as retail sentiment is currently too optimistic, and historically, the general market tends to make incorrect judgments. Santiment stated that a truly better buying opportunity usually occurs after market FOMO cools down and sentiment shifts to panic.

The cryptocurrency market research firm Santiment stated that ETH has fallen below $2000 for the first time since March 29. Typically, after a significant price drop, the market exhibits two typical sentiments: one is retail investors falling into FUD due to weak performance, and the other is the FOMO sentiment that views the drop as a "discount buying opportunity."Santiment pointed out that the latter is currently emerging in the market. As ETH breaks below a key psychological support level, a large number of retail investors are starting to "buy the dip." It believes that this usually indicates that the price of ETH may still have further room to decline, as retail sentiment is currently too optimistic, and historically, the general market tends to make incorrect judgments. Santiment stated that the truly better buying opportunities usually arise after market FOMO cools down and sentiment shifts to panic.

StablR officially announced on the X platform that it has identified a security vulnerability affecting its euro stablecoin EURR and dollar stablecoin USDR, and is actively controlling the vulnerability and mitigating its impact. Protecting users and user funds is its top priority, and details and follow-up measures will be announced as soon as the relevant issues are verified.According to previous reports, the StablR stablecoin became unpegged after an attack, and the attacker has profited approximately 2.8 million dollars.

According to Fireblocks' "2025 Stablecoin Status Report," the trading volume of euro stablecoins processed by retail virtual asset service providers (VASP) has grown 12 times in 15 months, reaching $777 million.European banks and fintech companies are accelerating the production and deployment of compliant stablecoins following the implementation of the EU's Markets in Crypto-Assets Regulation (MiCA). Banking Circle and SG-Forge have become pioneers of MiCA-compliant stablecoins, launching euro-backed digital assets EURI and EURCV, respectively, both of which are currently expanding their production operations.This growth reflects a broader transformation of the European digital asset infrastructure, as banks have moved from pilot projects to building production systems for tokenized assets and stablecoin payment rails. Fireblocks' research indicates that European banks view stablecoins and tokenized asset infrastructure as key components of their 2026 roadmap, with MiCA compliance reducing regulatory uncertainty and accelerating the deployment process.

According to data from CryptoQuant, the participation of retail investors (holding less than 1 BTC) in the Bitcoin market is continuously declining, almost "disappearing" from on-chain active addresses. Currently, the monthly average inflow of BTC from retail investors on Binance has dropped to a historical low of only 314 BTC.

According to Money Today, the Financial Services Commission of South Korea will announce detailed rules for tokenized securities in July, preparing for implementation in February next year. The country's financial authorities will allow the issuance of fragmented investment securities by bundling various underlying assets and will develop a roadmap for the tokenization of traditional securities such as stocks and bonds.The Financial Services Commission stated that previously it was prohibited to bundle underlying assets for the issuance of fragmented securities, but now it plans to allow bundling of similar assets within a certain scope. The Commission emphasized that market order and investor protection are fundamental prerequisites, but regulation will not be the primary focus. The annual investment limit for fragmented investment securities issuance platforms is set at 10 million to 20 million Korean won, with crowdfunding limited to 5 million won per project, totaling 10 million won. The annual selling limit for over-the-counter trading of non-listed stocks is 300 million won, while for investment contract securities in over-the-counter trading, it is 40 million won.

On-chain detective ZachXBT has released a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token has surged to a $6 billion FDV, but the situation is very opaque.The team was founded by Vova Sadkov and Mark, whose previous Eesee project left many investors dissatisfied. Currently, the circulation data for LAB is chaotic, with Coingecko, RootData, and CMC reporting different circulation figures. The official team has not clearly disclosed the token distribution, and there is a significant overlap between investors and trading platforms. Most critically, insiders likely control over 95% of the tokens, leaving retail investors completely unaware of the true circulation situation.Additionally, the LAB team unilaterally changed the public sale lock-up period from 3 months to 9 months, while also defaulting on marketing fees, providing special treatment to KOLs and whales, and requiring them to post promotional content. The founder has mixed project funds with personal accounts, with large amounts of money directly entering the trading platform's recharge address. Insiders can sell off tokens without retail investors being aware.On-chain data shows that insiders recently withdrew over 100 million LAB from trading platforms, worth hundreds of millions of dollars, using tactics similar to those seen in previously manipulated projects. ZachXBT calls for trading platforms to conduct a thorough investigation and delist or freeze related funds. Furthermore, ZachXBT specifically states: this is not a short-selling recommendation. With such high supply control, short-selling instead becomes fuel.

American financial services giant Charles Schwab has begun to phase in the "Schwab Crypto" service for eligible U.S. retail customers, allowing users to trade Bitcoin and Ethereum directly.According to official information, users can view and manage their crypto assets directly through their existing Schwab accounts, with custody provided by Charles Schwab Premier Bank, while Paxos offers underlying custody and trade execution services. The platform charges a transaction fee of 0.75% of the transaction amount, and currently does not support external wallet deposits and withdrawals. Additionally, this service is not yet available to residents of New York and Louisiana. Charles Schwab currently manages approximately $12 trillion in client assets, with its clients holding about 20% of the assets in U.S. spot crypto ETFs.

Traditional financial giant Charles Schwab announced that Schwab Crypto accounts are now gradually opening to retail customers. The first batch of customers can trade Bitcoin and Ethereum on Schwab, managing them alongside other investment products.

Crypto analyst Murphy stated that data shows retail investors have not generally missed out on this round of Bitcoin market. He pointed out that addresses holding less than 1 BTC have increased their balance by 23,074 BTC in the past 30 days, and there were three significant accumulations around $66,000, $70,000, and $80,000.Murphy believes that the retail investors still in the Bitcoin market during this cycle are mostly "veteran players" who have experienced the altcoin and contract cycles. Meanwhile, whales holding more than 10,000 BTC began to significantly increase their holdings around $66,000, with a peak increase of 140,699 BTC in the 30-day balance, marking the largest net growth in nearly two years, showing clear accumulation behavior. Murphy stated that the market will always move towards areas of less resistance, and when the lower resistance is greater, prices naturally tend to continue upward until they encounter stronger resistance.

After the Kelp security incident, Tether's asset interoperability protocol USDT0 announced details of its protocol security architecture, stating that the current system uses a proprietary DVN (Decentralized Verification Network) and has message veto power, while requiring 3 independent validators to reach a 3/3 consensus based on different codebases before cross-chain messages can be settled.The current validating nodes include USDT0's proprietary DVN, LayerZero, and Canary, with plans to expand to 4/4 and 5/5 verification mechanisms in the future. USDT0 also stated that all multi-signature transactions must undergo multiple reviews by internal teams, external security teams, and auditing institutions before submission for signing. Relevant contracts have been audited by organizations such as Guardian and OpenZeppelin and have launched a $6 million bug bounty program on Immunefi.

U.S. Senator Elizabeth Warren wrote to Mark Zuckerberg, requesting more information from Meta regarding its latest stablecoin plan and criticizing the company's "lack of transparency" in related business as concerning.In her letter, Elizabeth Warren stated that given Meta's vast global user base, any stablecoin-related business could have a significant impact on market competition, user privacy, the integrity of payment systems, and financial stability. Previously disclosed information indicated that Facebook has been testing stablecoin payment features for certain creators in Colombia and the Philippines, with the plan based on USD Coin (USDC), requiring users to link a third-party crypto wallet address. A Meta spokesperson responded that the company "does not have a Meta stablecoin," and currently only hopes that users and merchants can use various payment methods, including third-party stablecoins, on the platform. Notably, Meta launched the stablecoin project Libra (later renamed Diem) in 2019, but ultimately terminated it in 2022 due to regulatory pressure. Warren has long been one of the toughest critics of cryptocurrency in the U.S. Congress and has repeatedly questioned Meta's stablecoin plans.

ZachXBT posted on platform X that the founder of LAB released philosophical nonsense while participating in the manipulation of the CEX market that harms retail investors; they attempted to contact privately, but the message was read and not replied to; the scammers further undermined the last remaining credibility of the industry.