The US Treasury Department Meets with Three Crypto Companies to Discuss Bitcoin Reserve Custody Solution

US President Trump has made a flurry of statements over the past 24 hours on Iran, energy markets, and government personnel appointments. On Middle East issues, Trump said the US is pushing for a "fair deal" with Iran to end conflicts in the Strait of Hormuz, and reiterated that "Iran cannot possess nuclear weapons". He claimed Iran has agreed to accept long-term, even permanent, top-level nuclear inspections, and warned that no further talks would take place if Tehran refuses the inspections. Separately, in response to Iran’s denial that it had arranged access for International Atomic Energy Agency (IAEA) inspectors, Trump called Iran’s statement "incorrect", adding that the inspectors would enter Iran at an appropriate time. Trump also criticized the US Senate’s push to hold a vote on the War Powers Resolution, which limits the president’s war powers, saying the move sends a weak signal to Iran and will complicate future negotiations. On energy, Trump accused major oil companies of not passing on the full drop in crude oil prices to gas station retail prices, saying consumers are being "ripped off", and noted he has ordered the US Department of Justice (DOJ) to launch an immediate investigation. Additionally, a source familiar with the matter told reporters that Heidi Overton, White House domestic policy assistant, is among the candidates for commissioner of the US Food and Drug Administration (FDA). Separately, FIFA President has revealed that Trump will attend the World Cup final to be held in New Jersey, USA on July 19 and present the trophy to the champion team.

According to monitoring by OnchainLens, an address linked to BlackRock has deposited 2,700 BTC (valued at approximately $168.63 million) and 52,956 ETH (valued at roughly $88.17 million) into Coinbase.

QCP Capital’s daily observation notes that following the signing of the U.S.-Iran Memorandum of Understanding (MOU), the market’s focus has shifted from the agreement’s conclusion to execution risks. While Brent crude prices have fallen back below $80, navigation through the Strait of Hormuz has not fully resumed—only around 14 vessels transit the strait daily, far below normal levels. Key watch indicators over the next 60 days will be progress in technical negotiations and the implementation of the Lebanon-Israel ceasefire. On the monetary policy front, the Federal Reserve held interest rates steady in the 3.50%-3.75% range, but the median dot in its 2026 dot plot was raised from 3.4% to 3.8%, further reinforcing the "higher for longer" stance. Meanwhile, the Fed lifted its 2026 inflation forecast from 2.7% to 3.6%, underscoring that inflation remains a core constraint on current policy. In the tech sector, SpaceX’s share price has dropped from its post-IPO high of $211 to $155, a 27% decline from the peak, though still above its $135 IPO price. QCP believes the market narrative is shifting from the IPO boom to AI financing logic, with SpaceX increasingly emerging as a key component of the AI capital formation cycle. In the crypto market, Strategy continues to accumulate Bitcoin, holding 847,363 BTC—roughly 4% of the total Bitcoin supply—with an average cost basis of $75,651. QCP points out that while Strategy’s financing and accumulation mechanisms remain operational, its room to continue leveraging to add Bitcoin positions is narrowing, given the spot price is below its cost basis and preferred share prices have fallen below par value.

CryptoRank’s latest report shows that decentralized finance (DeFi) total value locked (TVL) has declined for six consecutive months, falling from around $115 billion in January 2026 to roughly $70 billion currently, marking a 39% year-to-date drop, a trend reflecting the ongoing correction following the 2025 crypto market peak. Data indicates that 121 security incidents have occurred in the DeFi space since the start of 2026, resulting in total losses of approximately $942 million. Among these, 85 attacks took place in the second quarter, causing around $775 million in losses, making it one of the most attack-prone quarters on record. The April attacks on Drift Protocol ($295 million) and KelpDAO ($293 million) alone account for more than half of the year’s total losses. Among the top 10 public blockchains by TVL, only TRON and Hyperliquid have posted positive growth. TRON’s year-to-date TVL rose by around 5%, driven primarily by demand for USDT transfers, stablecoin settlements, and lending services. Hyperliquid’s TVL grew by roughly 6.7%, fueled by its leading position in the on-chain perpetual contracts market and the expansion of its HyperEVM ecosystem. However, the report notes that the current DeFi downturn is significantly milder than the 2021–2022 cycle. Back then, DeFi TVL plummeted by over 70% in just seven months, while current capital is flowing more into segments like stablecoins, real-world assets (RWA), derivatives, and infrastructure, making the market structure more diversified and mature than in the previous cycle.

Binance announced that to enrich contract trading options and enhance user trading experience, Binance Futures will launch the OUSDT U-based perpetual contract at 19:45 Beijing time on June 24, supporting a maximum leverage of 10x.

Reform UK leader Nigel Farage has addressed the ￡5 million (approximately $6.7 million) gift he received from Tether shareholder Christopher Harborne, describing the funds as an "unconditional gift" whose use is entirely personal—adding, "If I wished, I could use it to buy a Ferrari." The UK Parliament’s Standards Commissioner is currently investigating whether Farage should have declared the donation after being elected as a Member of Parliament in 2024. Under parliamentary rules, newly elected MPs are generally required to disclose high-value gifts received in the preceding year. Harborne, a British-Thai businessman, holds roughly 12% of Tether—issuer of the stablecoin USDT—and is one of Reform UK’s key donors. In response to external concerns that the gift could influence his stance on cryptocurrency, Farage rejected the claim, stating he has long supported the crypto industry and advocates for establishing a UK Bitcoin reserve and lowering capital gains tax on digital assets. Notably, the personal gift is separate from political donations Harborne has made to Reform UK, and neither was paid in cryptocurrency.