The Circle-backed wrapped Bitcoin cirBTC has officially launched on Ethereum
On June 9, stablecoin issuer Circle officially launched wrapped Bitcoin (cirBTC) on the Ethereum blockchain. The new token enables users to deploy their Bitcoin assets in decentralized finance (DeFi) protocols for use cases including lending, decentralized trading, and tokenized asset workflows.
Circle Wrapped Bitcoin (cirBTC) is a tokenized version of Bitcoin pegged 1:1 to native BTC. It’s issued by Circle on both the Ethereum mainnet and Arc network, with its underlying BTC reserves held by a regulated entity affiliated with the Circle Group.
As of press time, the total market capitalization of all wrapped Bitcoin tokens ranges from roughly $12.5 billion to $13.5 billion — accounting for only about 1% of Bitcoin’s overall market cap (around $1.25 trillion), marking the space as a still-niche market. Circle’s entry will go head-to-head with existing wrapped Bitcoin products: Coinbase’s cbBTC and BitGo’s wBTC.
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SOL Strategies Sells Approximately 65,000 SOL for Debt Repayment
June 9 – Solana-focused public company SOL Strategies announced it sold 65,001 Solana (SOL) tokens at an average price of 87.88 Canadian dollars (approximately $63) to repay a C$5.75 million debt, equivalent to about $4.126 million.
The firm said it is actively managing its balance sheet to support its staking operations, and anticipates generating approximately $13 million in revenue from Houdini Swap, which it acquired earlier in June 2025.
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Analysis: Tokenized US Treasuries Could Serve as Stablecoin Backbone, Market Could Expand to $2.7 Trillion by 2030
On June 9th, Token Terminal released an analytical report noting that tokenized U.S. Treasuries are increasingly becoming a key infrastructure product for stablecoin issuers. Data shows the current market size of tokenized U.S. Treasuries is approximately $14 billion. Projections indicate stablecoin supply will grow tenfold by 2030, adding roughly $2.7 trillion in on-chain dollar supply. A substantial gap exists between the volume of tokenized Treasuries and total stablecoin supply, which is widely viewed as a major potential growth area for future on-chain financial infrastructure.
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US Pre-market: Fiber Optic Stocks Soar, AAOI and AXTI Up Over 5%, Photonics ETF FOTO Up Over 3%
June 9 — Pre-market trading in U.S. stocks showed broad gains for optical communications sector names, per Bitget market data. The newly launched FOTO (Pure Photonic ETF), which debuted on May 28, surged 3.04%.
Key optical module stocks also moved higher:
- Marvell Technology (MRVL), recommended by Huang Renxun and previously highlighted as the next trillion-dollar market cap company, climbed 5.3%.
- AAOI (Applied Optoelectronics) rose 5.1%. The firm manufactures high-speed optical modules (800G/1.6T) focused on AI data center transceivers.
- LITE (Lumentum Holdings) added 2.35%. It’s a core supplier of optical communications lasers and modules, and a major player in AI data center production.
- COHR (Coherent Corp.) grew 3.34%. A leader in lasers, optical components, and photonics solutions, its business covers data center and industrial sectors.
- CIEN (Ciena Corporation) ticked up 0.93%. It produces high-speed SerDes and connectivity chips, specializing in low-power int
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Humanity: Over $36 million in tokens have been stolen and dumped, with the attack stemming from an employee's compromised laptop.
June 9 — The crypto project Humanity has issued an update on its recent security breach, disclosing that more than $36 million in tokens on Ethereum and BNB Chain have been stolen and sold off.
The attack originated from a breach of an employee’s laptop, which compromised three out of six Gnosis Safe owner keys linked to the Hyperlane Bridge ProxyAdmin. Using these compromised keys, the attacker transferred ownership of the ProxyAdmin to their own wallet, then maliciously upgraded the bridge contract to siphon approximately 1.412 billion H tokens in a single transaction.
On the BNB Chain, three of five Gnosis Safe owner keys were similarly breached. The attacker repeated their scheme here: they deployed a malicious smart contract implementation with an infinite mint function, then minted 2 billion H tokens directly to their wallet across two separate batches.
In response, Humanity has temporarily suspended all deposits and withdrawals on the affected cross-chain platforms. The proje
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A certain whale has opened a $52 million short position, becoming the largest BTC bear on Hyperliquid.
June 9: Hyperinsight monitoring reports the largest single Bitcoin (BTC) short position on Hyperliquid that day was opened by a whale trader. The position used 20x leverage, shorting 831.4 BTC worth roughly $52 million at an average entry price of $62,675, with a liquidation price set at $69,909.
Notably, this trader is not a long-term bear on BTC—they focus on quick-turnaround trades for both BTC and Ethereum (ETH), boasting a 9-game winning streak and a weekly profit of $710,000. Their wallet address is 0x50b309f78e774a756a2230e1769729094cac9f20.
4 minutes ago
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