FTX Customers Anticipate Higher Recoveries as SpaceX Shares Soar

BitMine Immersion Technologies increased its Ethereum holdings by purchasing 26,497 ETH worth $52 million, despite Ethereum's price dropping below $2,000. Chairman Tom Lee mentioned that ETH prices do not reflect Ethereum's strengthening fundamentals, as the firm now holds 5,416,901 ETH, or 4.48% of the circulating supply.

Strategy's stock price plummeted after revealing a Bitcoin sale, causing concern among investors. The company aims to enhance its credit instrument, STRC, by utilizing proceeds from the sale to cover recurring costs.

An Ethereum developer successfully recovered over 1,000 ETH, valued at $2 million, from a 2016 failed crypto project, unlocking funds stuck in an old smart contract for nine years. The recovery covered 48 investors, showcasing the potential for reclaiming funds from long-forgotten contracts.

The recent outages on the Sui network were caused by crash bugs related to gas charging logic and a new address balances feature introduced in release 1.72. A third outage occurred during a scheduled epoch change due to a latent bug in how validators preserve randomness state, compounding the network's reliability issues.

Binance has introduced access to over 7,000 U.S. stocks and ETFs, allowing users to convert shares into blockchain tokens. The company offers zero-commission trades and fractional purchases, aiming to create a "multi-asset financial super app."

Bitcoin's price dropped to a two-month low of $71,479 following mass ETF outflows and a $2.5 million sale by Strategy. The recent 7% decline in the last week brought it to a level not seen since April, with $3 billion in outflows contributing to the slide.

According to a Reuters report, Japan's ruling Liberal Democratic Party proposed creating a legal framework for trading cryptocurrency exchange-traded funds (ETFs) to provide investors with easier investment options. The country's cabinet approved a draft amendment in April to classify crypto as a financial product, moving away from treating it solely as a payment tool.

Bitcoin treasury firm Strategy sold 32 BTC last week for $2.5 million, reducing its holdings to 843,706 BTC valued at $61 billion. The funds will be used for preferred stock distributions, marking a shift from the company's previous "never sell" stance.

U.S. spot Bitcoin exchange-traded funds have experienced 10 consecutive days of outflows, totaling nearly $3 billion, pushing year-to-date flows into negative territory for the first time in 2026. Altcoin participation in weekly flows is now concentrated in five assets, with Hyperliquid ETFs seeing 11 consecutive days of inflows.

The Cardano Foundation's proposed Summit 2026 has been canceled after failing to secure the supermajority needed for approval, showcasing the blockchain's new governance system. Delegated representatives, introduced as part of Cardano's Voltaire governance overhaul, were tasked with deciding on major treasury withdrawals for the event.