Good Morning,

Here's a quick preview of today’s content: Ripple stablecoin finds a home, El Salvador President is talking trash to US politicians over crypto, a Detroit man is caught sending crypto to a terrorist group, Tether reveals it has more gold than most 1st world countries, Bitboy looks to be in jail again, and so much more

We are officially in a whole new GREEN territory

Happy Thursday (almost Friday) – Let’s dive in.

Market Snapshot

  • Bitcoin broke all time highs surpassing the $112,000 all-time high for the first time on Wednesday, after rising +5.95% during the past week

    • "Crypto feels so quiet, [while] bitcoin is ready to move," wrote Charlie Morris, chief investment officer at ByteTree, in a report

    • Ethereum's ETH surged +6% to $2,760, marking its highest level in almost a month

  • Trump easing volatility concerns and continued institutional and corporate adoption has bolstered price in recent weeks

Market Predictions

  • Bettors on Kalshi are predicting how high Bitcoin will get to this month – trade your predictions on a range of events, only on Kalshi

  • Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
The major headlines driving crypto markets

  • Ripple has chose BNY Mellon as the primary custodian for its stablecoin RLUSD (DC)

  • Tether reveals it has a $8B gold stockpile in swiss vault (TD)

  • New mugshot of popular crypto influencer 'Bitboy' circles the internet causing concern over his new appearance (GZ)

  • El Salvador President Nayib Bukele was defending his country's crypto-friendly policies and taunting foreign leaders again on X this week – see full statements here (DC)

  • All Franklin Templeton products will one day be onchain, exec says (BW)

  • Nvidia stock jumped Wednesday and pushed the company past a $4T market cap, the first company to cross ever (CNBC)

  • Pump.fun plans 25% revenue share with token holders (BW)

  • Emirates partners with Crypto.com allowing crypto payments for flights (TD)

  • NFT volume sank 45% in Q2 (BBG)

  • Polymarket controversy heats up after the Zelenskyy suit market resolves (TD)

  • Justin Sun commits to buying $100M in Trump-themed memecoins (TB)

  • Hacker exploits GMX for $42M in one of the largest DeFi perpetual exchange attacks to date (TB)

  • Circle secures revenue-sharing agreement for USDC with Bybit, the second-largest crypto exchange (CD)

  • Kraken’s market share rises to 29% as product expansion fuels growth (TB)

  • Apple greenlights first iOS game using Bitcoin microtransactions via ZBD (BM)

  • H100 Group expands Bitcoin holdings with additional purchase of 46.93 BTC (BM)

  • Crypto and political circles react as Trump signals full crypto support in pivot away from SEC push (FT)

  • South Korea to extend grant and startup benefits to crypto-focused firms (TB)

Venture Capital

  • Japanese public company Remixpoint has raised $215M aimed at expanding its Bitcoin holdings (TD)

  • Insomnia Labs, a startup building a blockchain-backed financing platform for digital creators, raised $12M in debt financing from Kamui Finance, Intrinsic Capital, and others (TFN)

  • Donald Trump Jr. invests $4M in Bitcoin treasury firm Thumzup Media (BM)

M&A Announcements

  • Monad acquires Portal Labs to scale stablecoin payments on high-speed blockchain network (CD)

Launches

  • Crypto wallet provider Phantom has introduced "Phantom Perps," a direct perpetual-futures trading feature powered by Hyperliquid (TD)

  • Polygon plans to activate its Heimdall v2 hard fork on 10 July, aiming to cut transaction finality on the proof-of-stake network to about five seconds and more (TD)

Regulation

  • U.S. House drops its stablecoin bill to support Trump-aligned Senate version instead (CD)

  • New Zealand is banning crypto ATMs and capping international cash transfers at $5,000 (DC)

  • SEC's 'crypto mom' says tokenized securities are still securities (RT)

  • Sen. John Kennedy (R-LA) was skeptical about allowing the crypto industry to write its own rules, saying that when Congress allowed tech giants to do the same, the result looked "like somebody knocked over a urine sample." (DC)

Cybersecurity

  • Federal prosecutors charge two OmegaPro executives with running a $650M crypto scam masked as a forex investment platform (DC)

  • Detroit man has pleaded guilty to providing material support to ISIS using crypto donations (DC)

Extra Reads

Chart of the Day

Bitcoin flew from 109,000 to breaking all time highs in a matter or hours

Meme Dump

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