Good Morning,

Here's a quick preview of today’s content: Trump announces a government initiative for newborn investment accounts, OpenSea is making a massive comeback, bitcoin treasuries are continuing to be funded, Plasma raise half a billion dollars in a few minutes, Cetus restarts the protocol, and so much more.

Kicking off Tuesday strong. Let’s dive in.

Also, Blockworks’ Permissionless IV event in Brooklyn is just around the corner (June 24th – 26th). Hear from the founders of Uniswap, Infinex, LayerZero, and many more. If you are building in crypto you will not want to miss this.

Use code CRYPTOSUM10 for 10% off your ticket

Market Snapshot

  • Markets showing signs of life on Monday after a prolonged 13-day correction that tested investor resolve. The total crypto market capitalization rose +1.72% over 24 hours to $3.37T, getting closer to the peak reached in late May when traders took the crypto market to $3.52T

  • Both Bitcoin and Ethereum showing mixed‑but stabilize‑minded technicals

    • Bitcoin avoided the "death cross" and has solid support levels; Ethereum could see bullish crossover if key levels hold

  • Fartcoin exemplifies meme‑coin fervor—strong trend signals, momentum breakout, and hype-driven Coinbase interest

Headline Roundup
The major headlines driving crypto markets

  • Blackrock’s IBIT ETF sets record reaching $70B in assets in under a year (TB)

  • President Trump announced the “Trump Account,” which would grant $1,000 in tax-deferred index fund investments to every U.S. citizen born between 2025 and 2029 – full details here

  • Argentina President Milei cleared from involvement in Libra memecoin case (DT)

  • More than 60 companies with no prior ties to the crypto market have embraced the bitcoin treasury strategy – full breakdown here

  • OpenSea logs most monthly users since 2023 with OS2 exiting beta (TB)

  • Crypto fund assets hit record high as investors hedge and diversify (RT)

  • ProShares and Bitwise file for $CRCL ETFs after dominating first week after IPO (TB)

  • Uphold CEO Simon McLoughlin says the firm looks to be valued at $1.5B in potential IPO (TB)

  • Saylor’s $MSTR ( ▼ 0.24% ) reaches 582,000 BTC holdings after $110M purchase near $105k per token (DF)

  • The Blockchain Group partners with asset manager TOBAM for at-the-market style program to raise €300M for bitcoin purchase (TB)

  • $KULR ( ▼ 4.07% ) set to raise $300M to 3x current holdings (DT)

  • $BMNR ( ▼ 2.03% ) kicks off bitcoin treasury acquisition with 100 BTC purchase (BM)

  • Coinbase Chief Legal Officer says the exchange does not plan to relist WBTC after lawsuit dropped by BiT (DT)

  • Morpho CEO avoids token buybacks in company restructuring (DF)

  • Tron stablecoin market cap reaches $80B, only trailing Ethereum (DF)

M&A Announcements

  • $NCPL ( ▼ 13.16% ) sees stock soar with portfolio company Zelgor acquiring crypto-native protocol Mixie (CT)

Venture Capital

  • Bain Capital Crypto leads $30M Series B for infrastructure startup Turnkey, investing alongside Sequoia, Galaxy, and others (TB)

  • RISE Chain closes $4M funding round from Galaxy Ventures for Layer 2 solution (CD)

  • Base Ecosystem Fund and Echo back Towns Protocol in additional $3.3M funding round (TP)

  • Polycule founder announces $560k investment from Alliance DAO for gambling concepts (TJ)

  • Soneium, Sony’s Layer 2 blockchain, reveals new gaming incubator to improve ecosystem startup activity (CD)

Launches

  • Layer 1 blockchain Plasma filled a $500M initial coin offering (ICO) deposit vault in a matter of minutes (DT)

Regulation

  • SEC Chair Paul Atkins says right to self custody is a "foundational American value" – his full statements here

  • Andrew Small appointed crypto specialist under UK’s Insolvency Service (CD)

  • Software developer protection clause included in a recent addition to a crypto bill (TB)

Cybersecurity

  • New Yorker and Russian national arrested on charges related to bank fraud and laundering over $530M from Russian banks into the U.S. via crypto (TB)

  • Cetus Protocol has restarted the platform thanks to a $30M loan from the Sui Foundation just 17 days after $223M exploit (TB)

Extra Reads

Chart of the Day

Bitcoin's technical recovery takes shape

Bitcoin is trading at $108,313 on Monday, stabilizing after shedding nearly 10% during its recent correction. The cryptocurrency's technical structure revealed multiple bullish signals beneath the surface volatility.

Upcoming Events

 🚨 Introducing the biggest US onchain builder event of the year: Permissionless IV

Tue, Jun 24, 2025 – Thu, Jun 26, 2025 at 9:00 AM-5:00 PM

Builders are taking over Brooklyn.

Permissionless IV is where the next internet gets shipped. From onchain AI agents to payments, infra, social, and DeFi, the brightest minds are meeting IRL to build what’s next.

Hear from the founders of Uniswap, Infinex, LayerZero, and more. 3 days. 1 mission: ship real things.

Use code CRYPTOSUM10 for 10% off your ticket

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