CoinPhoton

Trump earned over $57.36M from crypto firm tied to family

According to the New York Post, a financial disclosure released by the U.S. Office of Government Ethics on June 13 shows that former President Donald Trump earned $57.36 million last year from World Liberty Financial — a crypto company linked to his family. It was one of his main income sources. He also made royalties from products featuring his name and image, including guitars, sneakers, watches, and books.

https://nypost.com/2025/06/13/us-news/trump-raked-in-57m-income-from-family-crypto-firm-seven-figures-from-guitars-sneakers-watches-and-books-financial-disclosure/

Firms like VanEck, Galaxy Digital, Franklin Templeton, and Fidelity have submitted updated S-1 filings for spot Solana ETFs, signaling that SEC approval may be near. The SEC recently requested changes related to staking and in-kind redemptions. Experts predict that Solana ETFs could be approved within 2–4 months. Optimism is rising after CME listed SOL futures, and issuers are urging the SEC to follow the traditional "first-to-file" review process.

Israel launched airstrikes against Iran, sharply escalating tensions in the Middle East. Crude oil prices jumped more than 5%, while Bitcoin dropped 4% to around $103,000. Approximately 215,000 traders were liquidated in the past 24 hours, with total liquidations exceeding $1 billion—most of them long positions. The largest single liquidation occurred on Binance’s BTCUSDT pair, valued at $201 million. Israel declared a nationwide state of emergency. President Donald Trump had earlier warned that the Middle East was becoming dangerous and reiterated that the U.S. would not allow Iran to obtain nuclear weapons.

#Israel #Iran #Bitcoin #Oil #Liquidation #Crypto #Trump

Circle integrates USDC directly on the XRP Ledger mainnet

Circle has officially announced that USDC is now live on the XRP Ledger (XRPL) mainnet, allowing users and institutions to access the stablecoin directly without the need for a bridge. Through this integration, Circle Mint and APIs now fully support USDC on XRPL, expanding its use cases for cross-border payments, DeFi, and conversions between USDC and fiat currencies.

This marks an important milestone following Circle’s successful IPO, enhancing the connection between traditional finance and Web3. Ripple also hopes the USDC integration will support its goal of capturing 14% of global SWIFT liquidity by 2030.

The SEC rejected DeFi Development’s proposal to issue $1 billion in securities to purchase Solana due to missing documentation. The company has withdrawn its Form S-3 and plans to refile later. Despite the setback, DeFi Development has already invested millions in SOL and raised $42 million by April. The firm is expanding into Solana staking and partnering with various companies. However, its ambition to become “Solana’s MicroStrategy” is currently stalled due to regulatory hurdles. Without SEC approval, the company cannot accumulate SOL at the scale it originally planned.

#Solana #DeFiDevelopment #SEC #CryptoNews #Web3 #AltcoinInvestment
https://www.sec.gov/Archives/edgar/data/1805526/000121390025053425/ea024543901-rw_defidevelop.htm

In the first half of 2025, 60% of Fortune 500 companies had implemented blockchain-related initiatives, with nearly 10 projects per company on average. At the same time, institutional investors poured $50 billion into spot Bitcoin ETFs in Q1—double the record set by traditional ETFs. Ethereum funds also saw $3.5 billion in inflows during their first quarter. Over 80% of institutional investors plan to increase their crypto exposure this year, highlighting a strong convergence between enterprise adoption and capital inflows.

The Ethereum Foundation has identified six core security challenges for the Ethereum ecosystem, highlighting user experience (UX) and social governance as key areas. The report warns that users bear too much of the security burden, with UX still prone to vulnerabilities like blind signing and unsafe key management. It also raises concerns over stake and offchain asset concentration, which could centralize power within Ethereum’s social layer. The report follows the launch of the "Trillion Dollar Security Initiative." Despite increasing competition, Ethereum remains the leader in DeFi and real-world asset (RWA) tokenization, commanding the largest market share across both sectors.

Guggenheim partners with Ripple to bring Treasury-backed fixed-income product to XRPL

Guggenheim Partners is launching a Treasury-backed fixed-income product on the XRP Ledger (XRPL) through a new partnership with Ripple, Bloomberg reported on June 10.

Guggenheim Treasury Services, a subsidiary of the firm, will offer tokenized U.S. commercial paper with customized maturities up to 397 days on XRPL. The product is fully backed by U.S. Treasurys and aims to provide institutional-grade fixed-income access in tokenized format.

As part of the deal, Ripple will invest $10 million into the asset, aligning with its broader RWA tokenization strategy. The product may also be purchasable using RLUSD, Ripple’s USD-pegged stablecoin, which has surpassed $300 million in supply and operates on both Ethereum and XRPL.

This move builds on Guggenheim’s earlier blockchain venture, when it tokenized $20 million worth of commercial paper on Ethereum in September 2024, marking its first exploration into on-chain debt instruments.

Tokenized Treasurys and money market funds are rapidly gaining traction. BlackRock, Franklin Templeton and platforms like Securitize are leading efforts to modernize asset distribution and reduce investor barriers.

The Ripple-Guggenheim partnership underscores a broader industry shift as legacy financial institutions adopt blockchain to enhance transparency, efficiency and accessibility in fixed-income markets.

Crypto fund assets hit a record high of $167 billion in May, according to Reuters, with 294 crypto funds receiving $7.05 billion in net inflows. As trade tensions ease and risk appetite grows, investors are increasingly turning to crypto to hedge against market volatility and diversify away from U.S. holdings.
Bitcoin surged over 15% in the past three months, outperforming gold (+13.3%) and the MSCI World Index (+3.6%). Aether Holdings’ CEO Nicolas Lin noted that Bitcoin is regaining traction—not only as a volatile asset but as a strategic hedge—adding that crypto is becoming a permanent fixture in diversified portfolios.
CoinShares data showed Bitcoin funds attracted $5.5 billion and Ethereum funds saw $890 million in inflows in May. Meanwhile, global equity funds posted a net outflow of $5.9 billion, and gold funds recorded their first outflow in 15 months, totaling $678 million.
#CryptoFunds #BitcoinETF #InstitutionalAdoption #Diversification #Ethereum #Gold #BTC #Markets

U.S. lawmakers have added a provision to the digital asset market structure bill to protect developers of non-custodial crypto platforms from being classified as unlicensed money services businesses. This measure is part of the Blockchain Regulatory Certainty Act. The broader bill clarifies the roles of the SEC and CFTC, and requires crypto firms to disclose information and segregate customer funds. The hearing is scheduled for 10:00 a.m. ET on Tuesday.

https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=409743

Michael Saylor extremely bullish, predicts Bitcoin will grow 30% annually for 20 years

Michael Saylor, Chairman of MicroStrategy, said he is extremely optimistic about Bitcoin, forecasting that BTC will grow an average of 30% per year for the next 20 years—surpassing his previous projection of $13 million by 2045.
He emphasized three key points:
Scarce supply: only 450 BTC are mined daily, all absorbed by institutions;
Surging institutional demand: over 100 public companies have bought BTC;
Regulatory clarity: BTC is recognized as a commodity, accounted for at fair value, and banks are permitted to custody it;
Compared to other assets, BTC has delivered an impressive average return of 57% per year over the past 4.5 years.
“I’m very optimistic,” Saylor concluded.

Open Loot debuts on Binance Alpha, 1,836 OL token airdrop for eligible users

Open Loot (OL) has officially launched on Binance Alpha. Starting at 6:00 UTC on June 8, 2025, Binance users with at least 233 Alpha points can claim an airdrop of 1,836 OL tokens via the Alpha Events page. Claiming the airdrop will consume 15 Alpha points and must be confirmed within 24 hours, or it will be forfeited.

Additionally, Open Loot will host a trading competition with a total prize pool of 16,000,000 OL tokens.

CEO Paolo Ardoino stated that if Tether were to go public, the company could reach a $515 billion valuation, making it the 19th largest company in the world—surpassing Costco and Coca-Cola. He emphasized that this figure might still be “conservative” considering Tether’s rapidly growing Bitcoin and gold reserves. Nevertheless, the company remains humble and is highly excited about the next phase of growth.

However, Tether’s competitor Circle, the issuer of USDC, recently went public and is currently valued at $21 billion.

Cetus Protocol will officially resume operations at 03:00 UTC on June 8, 2025 (8:00 PM PDT, June 7, 2025), following the completion of a comprehensive recovery plan related to the CLMM pool exploit.
🛡️ Incident summary: A hacker exploited a vulnerability in an open-source library related to CLMM, leading to major losses and severe price fluctuations across pools.
✅ Recovery actions taken:
Patched the vulnerability and completed a full system audit
Collaborated with Sui validators to recover assets from the attacker
Secured a $30 million USDC loan from the Sui Foundation
Deployed Cetus’ entire reserve (~$7 million) to replenish liquidity
Established a compensation plan using 15% of CETUS supply (5% upfront, 10% vested over 12 months)
💧 Liquidity recovery:
Affected pools have been restored to 85–99%
LP positions function normally again, with NFTs used as proof for compensation claims
⚖️ Pursuit of the attacker: Cetus has initiated lawsuits across multiple jurisdictions and continues tracking the hacker. If additional funds are recovered, users will be able to convert compensation CETUS into USDC or join a token buyback program.
🚀 Ready to return: Cetus will upgrade its monitoring systems, expand audits, launch a bug bounty program, and accelerate new product development—aiming for a safer DeFi future on the Sui ecosystem.

Argentina's Anti-Corruption Office concluded that President Javier Milei did not violate public ethics when promoting the Libra ($LIBRA) cryptocurrency. He posted from his personal account to support small businesses but deleted it after Libra dropped 90%. While the administrative probe is closed, criminal and civil cases continue. Two USDC wallets tied to Hayden Davis—who met Milei—worth $57.6 million, have been frozen by a U.S. court.

Coinbase cuts unnecessary account freezes by 82%

Coinbase CEO Brian Armstrong announced that the exchange has reduced unnecessary account freezes and restrictions by 82%, calling it an issue that has “lasted too long.” He said fixing this has become a top priority and updates will continue to roll out.

Dor Levi — a specialist from smIXL (acquired by Dune) — said he joined Coinbase specifically to tackle this problem. Measures include heavy investment in AI, infrastructure upgrades, and integrating source-of-funds checks and enhanced KYC directly into the app, allowing users to lift restrictions more easily.

However, complaints persist. Some users report account freezes simply for using a VPN or making small transfers, with entire balances being locked. Coinbase insists it will keep improving the process while maintaining safety and regulatory compliance.

#Coinbase #Crypto #Blockchain #KYC #AccountFreeze

Michael Saylor: “Strategy is fully torqued Bitcoin”

Michael Saylor – co-founder and now Executive Chairman of Bitcoin-holding company Strategy (formerly MicroStrategy) – has delivered a triumphant message to the global community, highlighting the superior performance of both his company and the world’s leading cryptocurrency, Bitcoin.

An infographic shared by Saylor shows that Strategy has outperformed major tech giants, as well as gold and even Bitcoin itself, in terms of one-year return growth.

According to the chart, MSTR shares have surged 126%, doubling Tesla’s 66% gain and surpassing Bitcoin (48%), Meta (41%), and gold (39%). Following behind are Nvidia, Amazon, Invesco QQQ Trust, S&P 500, Microsoft, Apple, and others, with significantly lower growth rates – Nvidia’s one-year return is just 17%.

Michael Saylor declared on X (Twitter): “Strategy is fully torqued Bitcoin.”

Kill Big Beautiful Bill (KBBB) ranked second with $131 million, though its market cap remains modest at $12 million.

Official Musk (MUSK) logged $22 million, placing fifth.

President Vs Elon (PVE) landed in ninth place with $30 million.

XPARTY, inspired by Musk’s “third party” poll on X, debuted with nearly $10 million in first-day trades.

The DeFi protocol ALEX on Stacks was exploited on June 6, 2025, due to a token listing validation bug, resulting in a loss of about $8.37 million, including 8.4M STX, 21.85 sBTC, 149,850 USDC/USDT, and 2.8 WBTC. The vulnerability was in the on-chain self-listing verification logic.

ALEX Lab Foundation will fully reimburse affected users in USDC based on average on-chain rates between 10:00–14:00 UTC on June 6, 2025. Affected users will receive a private on-chain notification with a claim form before 23:59 UTC on June 8. The claim submission deadline is 23:59 UTC on June 10. Compensation payments will be made within 7 business days after verification.

Ripple makes a mysterious $487 million XRP transfer, with more activity

On June 4, Ripple unlocked 1 billion XRP tokens, after previously locking 670 million tokens in escrow.

Some interpret the recent transfer of 487 million XRP as a bearish sign for the token. According to CoinGecko data, XRP is currently trading at $2.18, up 3% over the past 24 hours.

Earlier on Friday, 50 million XRP tokens (worth $108 million at the time) were also transferred from an unknown wallet to another unknown wallet.