BiT Global Drops Lawsuit Against Coinbase Over Wrapped Bitcoin Delisting

Bitcoin surpassed $110,000, up 3.5% in 24 hours, nearing its all-time high of $111,814. Ethereum and Solana also saw gains, while meme coins like Dogecoin and Shiba Inu rose. Crypto short positions worth $323 million were liquidated, led by Bitcoin at $196 million.

Cetus Protocol has recovered from a $233 million exploit by taking steps like retrieving frozen funds, receiving a bridge loan, and developing a compensation plan. The company has returned liquidity pools to a healthy state, with recovery rates ranging from 85-99%.

Plasma attracted $500 million in stablecoin deposits within minutes for its upcoming token sale, with one user spending $100,000 on Ethereum gas fees to expedite the process. The public sale, oversubscribed by 10x, signals a potential resurgence of initial coin offerings in the crypto market.

President Santiago Pena's tweet claiming Paraguay made Bitcoin legal tender was dismissed as a hack by the government. The tweet, which included a Bitcoin address, aimed to lure investors with false promises of a $5 million reserve fund.

Bitcoin's implied volatility has hit a one-year low amid trade talks between the U.S. and China, with its price hovering around $108,000. The tension between the two nations has led to knee-jerk reactions in the crypto market, but no significant directional breakout has occurred.

KULR Technology Group plans to raise $300 million through an at-the-market offering to increase its Bitcoin treasury, currently holding 920 Bitcoin valued at $996 million. The company aims to steadily grow BTC per share over time and is undeterred by short-term market volatility.

The crypto market saw a 1.72% increase in total market capitalization, nearing the peak reached in late May. Bitcoin's technical analysis revealed bullish signals, with a stable price around $108,313 and a strong support zone.

Chairman Paul Atkins and other SEC commissioners are considering exempting DeFi platforms from regulatory barriers to allow for innovation in on-chain financial systems. Atkins directed SEC staff to explore changes in agency rules to accommodate issuers and intermediaries in bringing products to market quickly without interference.

The Blockchain Group plans to raise €300 million to acquire Bitcoin, following a recent purchase of $68 million BTC. The company will partner with TOBAM for an "at-the-market" offering, capped at 21% of daily trading volume, to expand its Bitcoin treasury strategy.