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Collector Crypt is turning crypto’s RWA debate into a consumer stress test: randomized card packs, USDC sellbacks, physical redemption, and CARDS incentives are producing activity outside the tokenized Treasury model crypto usually uses to sell RWAs.The CARDS ticker moved through crypto circles on X after Arthur Hayes amplified it on June 23. That social heat explains attention; value, sustainability, and durable collector demand still rest on operating behavior.The operating data is harder to ignore. On June 24, DeFiLlama’s Collector Crypt dashboard showed $60.98 million in annualized fees and revenue; $15.15 million over 30 days; $4.16 million over 7 days; and…

In brief Crypto custody and infrastructure firm BitGo is cutting nearly 15% of its staff, CEO Mike Belshe said Thursday, calling it a “one-time” move. Belshe framed the cuts as a refocusing on security, trading, stablecoins, settlement, and “AI-powered infrastructure.” BitGo is the latest crypto company to trim its headcount in 2026, joining Coinbase, Block, and Robinhood in a wave of cuts tied to AI and a market downturn. BitGo has joined the growing ranks of crypto firms slashing staff numbers as part of a pivot to AI.The crypto custody and infrastructure company is cutting nearly 15% of its workforce,…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR DeFiLlama data cited in the batch shows total stablecoin market capitalization near $315 billion. Ethereum spot ETFs reportedly recorded six consecutive days of outflows. The article should avoid claiming stablecoin growth directly causes short-term ETH price weakness. The stablecoin market has reportedly reached a record $315 billion in total capitalization, even as Ether remains under pressure from volatility and Ethereum ETF outflows. The repaired source batch cites DeFiLlama stablecoin data, a KuCoin ETF-flow report, the GENIUS Act text and Ethereum’s Glamsterdam upgrade proposal for context.…

The U.S. Department of Justice says it has struck at the technical backbone supporting large-scale cryptocurrency money laundering operations. The DOJ has announced the seizure of a cloud computing account used by subsidiaries of Cambodia-based Huione Group. The agency says the account hosted backend infrastructure for services allegedly assisting in the transfer of proceeds from cryptocurrency investment frauds, cyber scams and other crimes. The account was allegedly used to move funds across blockchain networks and into the legitimate banking system without detection. “Huione Guarantee is alleged to have operated Telegram channels that contained discussions regarding illicit products and/or services, ranging…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Arthur Hayes has laid out a more defensive portfolio stance, saying he has exited several altcoin positions while keeping his core Bitcoin and Ether view intact. The shift comes as he argues that the AI debt boom is distorting liquidity conditions and delaying the next major crypto expansion. TL;DR Arthur Hayes’ “Reality Test” essay argues that AI-related debt is affecting liquidity conditions. Hayes says he has exited positions including NEAR, Worldcoin, Zcash, and Hyperliquid. He remains structurally bullish on Bitcoin and Ether, while rotating some capital…

In brief TRM Labs said it uncovered over $3.84 billion in crypto flows between CoinEx and more than 60 sanctioned Iranian platforms over a seven-year period. The exchange rejected the allegations, arguing that it is a neutral global platform serving ordinary users, with no official ties to Iranian entities. The confrontation comes amid U.S. enforcement, marked by sanctions against Iran’s largest crypto exchange and a $1 billion Bitcoin seizure. CoinEx denied allegations on Thursday that the Seychelles-based crypto exchange knowingly served as a conduit for billions of dollars in sanctioned Iranian funds, pushing back against a report from The Wall…

In brief Story Protocol is pivoting from its permissionless intellectual property network in favor of a new opportunity in AI training data. The renamed Data Network aims to become a key place for sourcing, processing, and verifying AI training data. As part of the move, its native IP token is making a 1:1 migration to trade as DATA. Story Protocol, the decentralized network originally designed to revolutionize the intellectual property industry, has rebranded to Data Network amid a strategic refocus on artificial intelligence. The transition includes the launch of Trace, an on-chain registry for AI training data and an integration with…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Strategy’s Bitcoin-linked equity stack is back under pressure, with MSTR slipping below the $100 level and its STRC preferred stock reportedly trading deep below par. The move has revived debate over how durable the company’s Bitcoin treasury model looks during weaker market conditions. TL;DR MSTR has reportedly slipped below $100 for the first time since March 2024. The STRC preferred is trading well below its $100 par value, according to the verified candidate notes. The pressure complicates future issuance and puts fresh scrutiny on Strategy’s Bitcoin…

In brief Base was down for more than two hours on Thursday after an issue arose that halted block production. The network is back up and running, and the network is still moving forward with a planned upgrade. Last month, the network had a partial outage that affected withdrawals. Base, the Ethereum layer-2 network incubated by crypto exchange Coinbase, was down for more than two hours on Thursday due to an issue that affected block production. The issue first arose around noon ET on Thursday and came just hours before the network had a scheduled upgrade, according to the network’s status…

In brief Hackers exploited a compromised third-party vendor to steal about $3 million from a handful of Polymarket users. Polymarket says the issue is fixed and affected users will be fully reimbursed. It marks the platform’s second security incident in two months. One of Polymarket’s third-party vendors suffered a hack Thursday, the prediction market said, leaving its website vulnerable to an exploit that analysts said led to millions of dollars lost for users of the platform.Polymarket declined comment when reached by Decrypt, and did not say publicly which of its vendors was compromised. But the attack allowed hackers to inject…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A coalition of US law enforcement organizations has reportedly warned that part of the Digital Asset Market Clarity Act could make it harder to pursue illicit finance cases involving crypto infrastructure. TL;DR Law enforcement groups are reportedly concerned about Section 604 of the CLARITY Act. The provision is said to protect non-custodial developers and infrastructure providers from certain liabilities. The debate highlights the tension between open-source crypto development and illicit-finance enforcement. The Dispute Over Section 604 The concern centers on whether protections for non-custodial wallet developers…

In brief Anthropic alleged that Alibaba-affiliated operators carried out the largest known AI model distillation campaign against Claude. The company is urging Congress to strengthen export controls, expand intelligence sharing, and penalize firms that engage in large-scale model extraction. The letter comes as lawmakers consider legislation targeting unauthorized access to U.S. frontier AI models. Anthropic is calling on Congress to strengthen protections against AI model distillation after claiming that Alibaba-affiliated operators carried out the largest known effort to extract capabilities from its Claude chatbot.In a June 10 letter to Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott and…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Curaçao regulators have reportedly issued their first detailed crypto rulebook for licensed online gambling operators, setting out wallet-screening requirements and a full ban on privacy mixers by 2027. TL;DR Curaçao has reportedly published crypto compliance rules for licensed online gambling operators. The rules require wallet screening, transaction tracing, and controls around illicit finance risk. A full mixer ban is expected by 2027, which could affect crypto-native gambling platforms. A Compliance Shift For Crypto Gambling Curaçao is a major jurisdiction for online gambling operators, which makes its…

In brief SBI Holdings is buying Tokyo crypto exchange Bitbank for about $289 million, making it a wholly owned subsidiary. Combined with SBI VC Trade, it’ll hold $6.8 billion in assets and 2.92 million accounts. The deal still needs regulatory clearance and is expected to close around October. SBI Holdings, the Japanese financial conglomerate, announced Thursday that it has agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, in a deal valued at roughly 46.7 billion yen, or nearly $289 million. The deal would make Bitbank a wholly owned subsidiary, with SBI saying the combined firm will be Japan’s largest crypto…

Strategy Inc. (MSTR) fell more than 9% at times on Thursday to its lowest level since March 2024, extending a five-day collapse of nearly 30% as Bitcoin broke below $60,000 and a securities investigation targeting the company became public. Shares of the Michael Saylor-led Bitcoin treasury company hit $85 by midday Thursday, down from above $117 at the start of the week. The stock has now shed roughly 36% over the past month — nearly double the 18.5% decline in Bitcoin over the same period. On top of this, Rosen Law Firm posted a press release saying it is investigating…