Gate.io Launches INIT Perpetual Contract Pre-trading

According to Lookonchain’s monitoring, a newly created wallet address bc1q4m has withdrawn 1,350 BTC from Binance, worth approximately $81.87 million at current prices.

Amid a broad sell-off in tech stocks, crypto-related equities have seen particularly steep declines, with their divergence from the broader market continuing to widen. Coinbase (COIN) and Circle (CRCL) have fallen 69% and 72% respectively from their all-time highs, far outpacing the 48% to 57% pullbacks of major tech stocks including Oracle, Salesforce, Netflix, and Palantir. By comparison, the S&P 500 index has dropped just 3.5% from its recent peak. Fundamentally, Coinbase’s first-quarter results missed Wall Street estimates by a wide margin: revenue fell 21% quarter-over-quarter, posting a loss of $1.49 per share, while analysts had previously projected earnings of $0.27 per share. Bitcoin fell below $60,000 this week, down more than 54% from its October peak. Ethereum also dropped to around $1,500, roughly 69% lower than its record high last year, as market sentiment continues to deteriorate. In its mid-year outlook report, 21Shares cut its 2026 crypto market forecast, noting that digital asset price performance is significantly lagging behind the sector’s fundamentals. The firm pointed out that institutional adoption continues to deepen, with stablecoins, asset tokenization, and prediction markets all maintaining strong growth momentum, but Bitcoin’s four-year market cycle remains the dominant driver of price movements. The report also acknowledged a prior misjudgment: “Bitcoin’s cycle is evolving, but it has not broken,” retracting its earlier claim that the four-year cycle was obsolete. Analysts argue that the sharp pullback in crypto equities reflects a combination of three pressures: overall weakness in the digital asset market, uncertainty surrounding structural legislation for the U.S. crypto market, and the potential impact of AI technology on existing business models.

SoftBank founder and CEO Masayoshi Son recently publicly challenged Elon Musk’s push for orbital data center concepts at a general shareholder meeting, arguing that building data centers in space is not only extremely costly and time-consuming, but also that "in the AI race, the next few years matter far more than what happens a decade from now." This remark has sparked widespread discussion across the tech industry. TechCrunch analysts note the irony that Son himself is an investor renowned for "crazy bets"—a pattern seen in high-stakes gambles ranging from WeWork to SoftBank’s Vision Fund. Still, his high-profile skeptical stance carries meaningful weight, given that a large number of venture capital firms and entrepreneurs have already been swept up in the orbital data center concept. As for Musk’s true motives, analysts bluntly point out that the orbital data center concept aligns closely with SpaceX’s commercial interests: building a satellite constellation translates to sustained launch demand, which will bring stable orders for SpaceX’s rocket launch operations. SpaceX currently holds an 80% to 90% share of the global launch market, but a significant portion of this is driven by launches of its own Starlink satellites. Excluding that segment, its actual market share may only stand at 20% to 40%. SpaceX is also actively expanding its computing power leasing business, having signed cooperation deals with firms including Google and Anthropic, and closed its first new computing power leasing transaction after its IPO. Most notably, OpenAI founder Sam Altman also holds reservations about the orbital data center concept—and his long-standing feud with Musk is well-documented. Analysts conclude that in this discussion about the future of AI, all parties speaking out have significant skin in the game: "there are no truly neutral, objective observers," and every prediction comes with an asterisk driven by vested interests.

According to monitoring by Onchain Lens, Ethereum treasury-linked firm SharpLink Gaming purchased another 29,196 ETH today, worth approximately $46.7 million. Over the past three days, it has accumulated a total of 39,196 ETH, with total spending around $62.43 million. This large-scale ETH accumulation comes amid renewed escalation of Middle East tensions and rising market risk aversion. Earlier on June 23, SharpLink, together with Bitmine and Ethereum co-founder Joseph Lubin, co-founded non-profit organization Ethlabs, positioned as a new entity taking over some functions of the Ethereum Foundation. SharpLink subsequently resumed ETH purchases on June 26.

According to Press TV, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed to have carried out strikes on 8 US targets in the region, issuing a stern warning that US bases in the Middle East "will experience hell in these days". The IRGC's Navy Command also warned it would take "tougher" measures against vessels transiting the Strait of Hormuz, further stoking fears of a renewed blockade of the strategic waterway. The statement comes just days after the US-Iran ceasefire deal took effect, marking a sharp reversal of the situation. Oil prices, safe-haven assets and financial markets are closely monitoring developments, with geopolitical risk premiums likely to be repriced rapidly.

According to Iran's Tasnim News Agency, the Islamic Revolutionary Guard Corps (IRGC) said its Navy and Aerospace Forces had jointly carried out missile and drone operations against Kuwait and Bahrain in response to recent U.S. strikes on Iran. The IRGC also warned that any violation of the ceasefire agreement would breach the deal between the two sides and could lead to a complete halt of all ongoing related processes. The IRGC stated it would respond to future violations of the agreement with harsher measures, and any "hostile aggression" would face a "devastating response". Additionally, the IRGC accused the U.S. of attacking five Iranian coastal outposts under the pretext that the IRGC Navy had intercepted vessels violating Iran's territorial waters. U.S. President Donald Trump previously posted that the U.S. military had just struck Iran's missile and drone storage sites and coastal radar stations, claiming Iran had again violated the ceasefire agreement. Trump also threatened: "There will come a time when we will no longer exercise restraint and be forced to complete the operations we have already successfully initiated by military means. If that day comes, the Islamic Republic of Iran will cease to exist!"