Binance Is Converting Its Emergency Insurance Reserve to Coinbase's USDC

Bitcoin treasury giant Strategy, formerly MicroStrategy, plans to raise $2.1 billion by issuing more preferred stock, including the Perpetual Strife Preferred Stock (STRF) with a 10% annual cash dividend. The company's fundraising initiatives also involve issuing common shares and another preferred stock, STRK, on the Nasdaq.

Meme coins like TRUMP, FARTCOIN, and SPX have surged in value, with the sector rising 7.3% to a total market cap of $80.2 billion. Moonpig (MOONPIG) saw the most significant increase, spiking 130% in 24 hours to a $114.41 million market cap.

An exploit on the Cetus decentralized exchange within the Sui ecosystem resulted in $200 million stolen from liquidity pools. Notable Sui meme coins like Lofi, Sudeng, and Squirtle experienced significant drops, with Cetus token also falling. The attacker manipulated smart contracts to extract assets from multiple pools.

The UK Court of Appeal dismissed most of the $13.3 billion class action against Binance, rejecting the investors' theory that Bitcoin SV would have reached Bitcoin's price if not delisted in 2019. The court found the claim speculative and not legally applicable, narrowing the lawsuit's scope.

FIFA is moving its FIFA Collect NFT platform from Algorand to its own Avalanche Layer-1 blockchain for better performance, scalability, and customization. The migration aims to enhance fan experiences with faster transactions and seamless integration with popular wallets.

Landmark legislation to establish a Bitcoin reserve in Texas passed the House, awaiting a concurrence vote before reaching Governor Abbott's desk. The bill, backed by bipartisan support, faced opposition during its final reading, with 42 votes against.

Hong Kong's new legislation requires fiat-referenced stablecoin issuers to obtain a license from the HKMA, complying with various regulations for investor protection and financial stability. The law aims to promote a robust regulatory environment and enhance Hong Kong's virtual asset market reputation.

Michigan House introduced four new crypto bills, including HB 4510 allowing state treasurer to invest in crypto with a $250 billion market cap requirement. HB 4511 opposes a U.S. CBDC, while HB 4512 and HB 4513 focus on Bitcoin mining and tax deductions.

LummaC2, a malware operation targeting millions worldwide, had key infrastructure seized by law enforcement agencies in a coordinated international effort involving the DOJ, Europol, and Microsoft. Microsoft identified over 394,000 infections on Windows systems globally between March and May 2025.

ZachXBT, a prominent onchain sleuth, was openly mocked by a threat actor through an Ethereum transaction, calling him a "loser" and sharing a YouTube meme video. The hacker moved millions from Bitcoin to Ethereum and demanded a ransom from Coinbase, which refused to pay.