Payment infrastructure firm Cyclops has closed a $20 million Series A funding round, led by Nava Ventures.

Coinbase will cease support for USDC deposits and withdrawals on the Noble network starting August 17, 2026.

CoinShares noted that Open USD, a stablecoin project driven by a banking-backed consortium, could directly impact Circle’s USDC distribution economic model and profit margins, as it plans to allocate reserve revenues to participating partners rather than retaining them primarily with the issuer. This mechanism may raise USDC’s costs for maintaining its circulation network and, following its launch in the second half of 2026, exert more substantial competitive pressure on Circle. However, CoinShares also pointed out that Open USD has not yet officially launched, with key details such as its reserve structure and fee model still undisclosed. By contrast, USDC retains existing advantages including liquidity, exchange platform integration, decentralized finance (DeFi) and payment scenario integration. Thus, Open USD is currently viewed as a credible challenger to USDC, though its actual impact remains unproven. On July 1, Open Standard announced the launch of Open USD (OUSD), a new stablecoin for global fund transfers, adding that over 140 enterprises have joined its ecosystem, spanning financial, payment and crypto industry players including Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana and Polygon. Open USD follows three core design principles: enabling zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board comprising independent firm Open Standard and its partners, rather than controlled by a single issuer.

According to EmberCN’s monitoring, as Bitcoin (BTC) rebounds above $65,000, the whale holding a $49 million short BTC position on Hyperliquid has less than $900 remaining to its liquidation price. The whale shorted 750 BTC at an average price of $59,941 at the end of June, incurring an unrealized loss of $4 million, with a liquidation price of $66,153.

Jiang Zhuoer, founder of BTC.TOP (LeiBit Mining Pool), announced in a post that he sold his remaining 50% of Ether (ETH) spot holdings when the cryptocurrency rebounded to $1,931, completing his full ETH spot liquidation at an average selling price of $1,834.5. ETH has now nearly rallied back to its level at the start of the current downturn on June 2, with most investors holding underwater positions above current levels, and the rebound is projected to cap at $2,000. Earlier reports noted that Jiang had repurchased his entire ETH position at $1,645 during the market crash on June 5, and sold 50% of his ETH spot holdings at $1,629 on June 11.

According to monitoring by OnchainLens, a trader has taken large long positions on Hyperliquid, with a total position value of $13.31 million. Current holdings: Bitcoin worth $5.87 million, 40x leverage, average entry price of $65,473; Solana (SOL) worth $5.5 million, 20x leverage, average entry price of $78.8; Ethereum worth $1.93 million, 25x leverage, average entry price of $1,939.

According to market data from BIT (bit.com), the Nasdaq 100 turned lower at the opening of U.S. stock trading, after opening higher with a gain of 0.6% earlier.