CFA Report Pegs US Crypto Fraud Losses at $80.7B

Solana has implemented a new onchain governance system called Solana Governance Proposals (SGPs), allowing validators with at least 100,000 SOL staked to propose network changes. This system gives more power to delegators, enabling them to override their validator's vote based on their stake.

Taiko's cross-chain bridge is operational again after a hack that led to a $1.7 million loss due to a compromised SGX signing key. The quick recovery involved patching the vulnerability, replenishing reserves, and undergoing an independent security review.

American Bitcoin Corp., co-founded by Eric Trump and majority-owned by Hut 8 Corp., will undergo a 1-for-15 reverse stock split to boost its stock price above Nasdaq's minimum listing threshold. The split will be effective on July 2, with trading starting on a split-adjusted basis on July 6.

A new nonprofit, Ethereum Institutional, backed by Joe Lubin and treasury firms, aims to assist Wall Street in navigating Ethereum's financial infrastructure. This initiative complements Ethlabs, a research organization supported by similar backers, focusing on protocol innovation and institutional guidance.

Circle's CRCL shares dropped 18% due to the announcement of a new stablecoin, Open USD, by competitors like Coinbase, Visa, and Mastercard. Despite concerns, analysts believe the market reaction was excessive and that Circle's USDC stablecoin remains strong.

Bitcoin hit a two-year low before rebounding 2.8% to $60,000 due to weak U.S. economic data and uncertain Federal Reserve comments. Despite the bounce, it remains 52% below its record high. Glassnode suggests a shift in market dynamics with long-term holders accumulating and spot orderbooks turning bid-heavy.

Cantor Fitzgerald analysts predict that the crypto market is approaching the final stage of the current bear cycle, with historical data suggesting a potential bottom in the next few months. Bitcoin, down 51% from its 2025 peak, typically hits a low around 384 days post-peak, indicating a possible downturn until late October.

Forward Industries saw a 17% increase in shares trading at $4.94 after acquiring over $38 million worth of Solana. The firm now holds around 7.55 million SOL valued at $579 million, aiming to maximize shareholder value.

Crédit Agricole, France's second-largest bank, has introduced a euro-pegged stablecoin called EURO eXchange Token (EURXT), compliant with the EU's MiCA framework. The stablecoin, issued by Caceis Bank, has 20 million tokens in circulation on Ethereum, backed by euro reserves.

The Solana-based World project has launched as an onchain prediction market within the Phantom wallet, utilizing Chainlink as its primary oracle infrastructure. Users can trade event contracts related to various topics, with plans for additional markets in the future.