MARA Cuts 15% of Workforce After Selling $1.1 Billion in Bitcoin to Pivot Business Focus

Chillhouse, a Solana meme coin, flipped Housecoin, sparking the rise of more foolish tokens like Farthouse and Chillgull. Chillhouse's market cap peaked at $26 million before dropping 33% to $17.3 million, below Housecoin's $19 million.

Humanity Protocol's newly launched token has dropped by over 61%, with founder Terrance Kwok revealing that most users are not real. The project's biometric verification system aims to prevent bots but has faced challenges with airdrop exclusions and bot activity.

A Russian woman, posing as a crypto expert named "Bitmama," defrauded investors of $23 million in Bitcoin through a pyramid scheme in Moscow. She was sentenced to seven years in prison and ordered to compensate her victims by a Moscow court.

Daily mining revenue for Bitcoin hit a low of $34 million on June 22, with hashrate dropping 3.5% since June 16, the most significant decline since July 2024. Despite this, miner capitulation has not occurred, with wallets holding steady and reserves growing.

Bitcoin ETFs have seen a record-breaking streak of inflows, bringing in over $2.9 billion in 13 consecutive trading days. Institutional interest in crypto investment products is growing, with ETF managers using OTC channels to minimize price impact.

Coinbase Global Inc. is set to launch US Perpetual-Style Futures on July 21, offering regulated perpetual futures contracts in the U.S. The move aims to address the gap in the domestic derivatives market and reduce reliance on offshore exchanges for U.S.-based traders.

Bakkt Holdings has filed with the U.S. SEC to sell up to $1 billion in securities for potential Bitcoin acquisitions. The registration acts as a pre-approved credit line for quick fund-raising based on market conditions.

Stablecoins like USDT and USDC are gaining strategic importance in Asia's financial sector, with major banks in Korea, Japan, and Hong Kong exploring local-currency stablecoins to mitigate risks and streamline cross-border transactions. Payment service providers are increasingly adopting stablecoins to improve efficiency and reduce costs.

Bitwise Asset Management's revised filings for spot Dogecoin and Aptos ETFs suggest growing momentum behind crypto ETF approvals, with warmer relations between issuers and the SEC. The updated prospectuses indicate increased optimism compared to the Bitcoin ETF approval process.

Metaplanet has acquired 1,234 Bitcoin worth $132 million, making it their third-largest purchase. This brings their total Bitcoin holdings to 12,345 BTC, valued at over $1.32 billion. The company aims to accumulate 100,000 Bitcoin by 2026.