BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

Ethereum’s first zkRollup project Loopring announced on June 28 that its decentralized exchange will halt all trading services effective immediately, with its relays also being taken offline. The platform has prioritized user asset security, promising to cover all gas fees and directly transfer assets to users’ Layer 1 (L1) wallet addresses, eliminating the need for users to submit on-chain proofs on their own. Regarding the closure reason, the team acknowledged the project never gained meaningful market adoption: early zkRollup architecture lacked virtual machine support and suffered from insufficient composability. The team also noted it is more adept at technical development than business operations, compounded by LRC being delisted en masse from major exchanges in 2026 and competitive pressure from modern zkEVM solutions, leading to the decision to exit gracefully. For the refund process, the team will shortly publish a final user balance list, providing a two-week verification window before initiating bulk asset distributions. Accounts with total balances under $10 will be excluded from refunds.

According to OnchainLens monitoring, Arthur Hayes’ address acquired 6.16 million SYN tokens via FlowDesk, in a transaction worth approximately $2.2 million.

This week, global markets are laser-focused on key events. On Wednesday, the heads of the Federal Reserve, Bank of England, Bank of Canada, and European Central Bank (ECB) will deliver joint remarks at the ECB’s Sintra Forum, with markets closely monitoring policy signals. On Thursday, the U.S. June nonfarm payrolls and unemployment rate data—this period’s most high-impact economic indicator—will be released. In tech and industry, Samsung Group and SK Group are set to announce a plan totaling up to 2,000 trillion won (approx. $1.3 trillion) in investments over the next decade. On Wednesday, the semiconductor and electronic components supply chain is experiencing a price surge, and the Davos Tech Summit will open the same day. Other key schedules: On Tuesday, ECB President Christine Lagarde will speak, Nike will release its earnings report, and Iran and the U.S. will hold technical talks. On Wednesday, both the Toronto Stock Exchange and Hong Kong Exchanges and Clearing will be closed for the day. On Friday, U.S. stock markets will be closed for Independence Day, Bank of England Governor Andrew Bailey will address fiscal and monetary policy coordination, and China’s refined oil products will enter a new pricing adjustment window.

According to a Monday report by South Korea’s Maeil Business Newspaper, as part of President Lee Jae-myung’s flagship industrial strategy, Samsung Group and SK Group are set to announce a plan to invest a total of up to 2,000 trillion won (equivalent to approximately $1.3 trillion) over the next decade. The report noted that Samsung and SK Hynix will each build 4 to 5 semiconductor plants in the Gwangju region. It added that Samsung also plans to construct a chip packaging plant in South Chungcheong Province, while SK Hynix will expand its NAND flash memory facilities in North Chungcheong Province.

New developments have emerged in the US-Iran situation: the two sides have agreed to halt mutual attacks and will hold talks this week in Qatar over the Strait of Hormuz dispute. Iraq’s foreign minister has also offered to mediate. However, technical talks scheduled for Sunday were canceled, with Iran citing recent attacks and unfulfilled conditions as reasons for its absence. Iran’s foreign minister issued a tough statement, claiming the Strait of Hormuz will be fully under Iran’s control within the next 30 days, adding that any external intervention would delay the strait’s reopening. He also called for establishing a "security framework" with Gulf countries and urged the US to set a timeline for Israel’s withdrawal from Lebanon. In response, the US Permanent Representative to the UN warned: "Iran must choose between acting responsibly or facing destruction." On the Israeli front, the Israel Defense Forces (IDF) destroyed Hezbollah’s underground infrastructure in a southern Lebanese village, notifying the US in advance; a Hamas naval force commander was killed in a Gaza attack. Additionally, Pakistan stated it has carried out military operations in areas along the Afghanistan border, killing 29 militants.

Richmond Federal Reserve President Thomas Barkin told Bloomberg in an interview at the Aspen Ideas Festival that May’s PCE rose 4.1% year-over-year, marking the largest increase since April 2023. “These numbers are too high,” he said. Oil prices have pulled back slightly following the U.S.-Iran ceasefire, modestly easing short-term price pressures, but Barkin warned inflation has spread from the energy sector to the broader economy. Expansion in AI infrastructure demand, service sector price stickiness, and corporate pricing inertia all pose sustained upward pressure. The Federal Reserve held interest rates steady this month, but internal divisions have deepened, with multiple officials signaling a possible additional rate hike this year. Barkin emphasized that a restrictive policy stance remains necessary, and further judgment will depend on monitoring economic trends in the coming months.