Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

This week, stocks of Intercontinental Exchange (ICE) and CME Group (CME) were oversold, with both carrying a Relative Strength Index (RSI) of 24.4. Typically, an RSI below 30 is classified as oversold, suggesting a potential short-term rebound, while an RSI above 70 is considered overbought, implying a possible correction risk. Investors offloaded shares of the two trading platform operators primarily over market concerns that new products like perpetual contracts could disrupt their traditional exchange businesses. Earlier, CME sued the U.S. Commodity Futures Trading Commission (CFTC) after the regulator allowed prediction market platform Kalshi to offer Bitcoin perpetual contracts at the end of May. CME declined 10% this week, while ICE dropped over 7%, with both logging double-digit losses in June.

According to Bitget’s official announcement, the platform has launched USD-margined CAP perpetual contracts, supporting up to 10x leverage. Contract trading bots will also be rolled out simultaneously. For more details, please refer to Bitget’s official platform.

This week, stocks of Intercontinental Exchange (ICE) and CME Group (CME) were oversold, with both recording a Relative Strength Index (RSI) of 24.4. Typically, an RSI below 30 is considered oversold, signaling a potential short-term rebound, while an RSI above 70 is deemed overbought, indicating a possible correction risk. Investors offloaded shares of the two trading platform operators mainly due to market concerns that new trading products like perpetual contracts could disrupt the traditional exchanges’ business. Earlier, CME sued the U.S. Commodity Futures Trading Commission (CFTC) after the regulator allowed prediction market platform Kalshi to offer Bitcoin perpetual contracts at the end of May. CME fell 10% this week, while ICE dropped more than 7%, with both logging double-digit percentage declines in June.

Binance founder Changpeng Zhao (CZ) said there is no single cause for the crypto market’s sharp downturn in the first half of 2026. Geopolitical tensions, investors shifting funds to AI, and the typical four-year crypto cycle may have collectively driven the continued decline of Bitcoin and other crypto assets. Bitcoin hit an all-time high of over $126,000 last October, and has since fallen roughly 50%. It opened near $89,000 at the start of this year, briefly rose to just over $96,000, then dropped to around $60,000. In the long term, the crypto industry will keep growing, with rising demand for fintech as transaction volumes continue to increase, so he is not worried about the sector itself or short-term price fluctuations. He noted that emerging sectors like AI are absorbing "hot money" from crypto, though this could be a positive factor in the long run. On prediction markets, CZ said they are growing rapidly as tools for price discovery and liquidity, which is beneficial for the public. Regarding regulation, CZ said standalone bills like the U.S. Digital Asset Market Clarity Act are important but tactical matters that will not determine the crypto industry’s long-term growth. He hopes the Clarity Act passes, warning that if U.S. related legislation is delayed, other countries may take the lead in setting rules. CZ also stated that if U.S. Democrats regain control of at least one chamber of Congress after the midterm elections, there could be scrutiny of Trump’s support for the crypto industry and his pardons of crypto executives. He emphasized he has "nothing to hide" and is willing to cooperate if parties seek information. On political implications, CZ said he tries to stay away from U.S. politics, but believes any anti-crypto figures could lose a significant number of votes now.

According to Axios, citing sources, the Trump administration is nearing approval to allow Anthropic to restore access to its powerful Fable 5 model, which has been offline for 15 days due to government security concerns. Insiders expect the administration could lift restrictions on Fable 5 as early as next week. Another source said relevant communications are set to continue over the weekend, with Anthropic poised to resume access to Fable soon. On Friday, the U.S. Department of Commerce permitted Anthropic to restore access to Mythos 5 for a limited number of trusted users. Per Semafor, Commerce Secretary Lutnick wrote in a Friday letter to Anthropic that the company "has collaborated with the U.S. government to address risks related to Mythos 5 and Fable 5." "These efforts have made significant progress." Additionally, Anthropic has committed to cooperating with the U.S. government on agreements, standards, and releases. (Jinshi)

Strategy (MSTR) has seen its modified net asset value (mNAV) fall below 1, indicating the market is currently valuing the company at less than the worth of its Bitcoin holdings. This is unusual for Michael Saylor-led Strategy. For years, investors have priced Strategy at a premium to its Bitcoin reserves, giving the company flexible access to capital when needed—a advantage Saylor and his team have leveraged heavily. Currently, Strategy’s share price has dropped to around $82, roughly 85% lower than its November 2024 all-time high, bringing its enterprise value to approximately $50.4 billion. Meanwhile, with Bitcoin trading at about $60,000, the value of Strategy’s Bitcoin holdings stands at roughly $51.1 billion. That means the market is now valuing the entire company at less than the value of its Bitcoin assets. At this valuation level, issuing new shares would be dilutive for Strategy, as the company would effectively sell equity at a discount to its underlying asset value. While this does not bar Strategy from continuing to issue new shares, raising capital at current valuations could spark more criticism. The firm’s recent Bitcoin purchases have already diluted common shareholders and drawn community backlash. Market concerns have grown that Strategy is increasingly resembling a closed-end fund rather than an operating company. Such vehicles typically trade at a premium to their underlying Bitcoin holdings when demand is strong, but can trade at persistent discounts once investor sentiment weakens. However, unlike traditional closed-end trusts, Strategy still retains multiple tools: issuing debt or equity when it is accretive, redeeming or refinancing securities, generating operating cash flow through its software business, and actively managing its capital structure.