Crypto Industry News & Market Trends

Kalshi hit with 14-day restraining order in Michigan, blocking sports prediction markets in state

Quick TakeA Michigan judge issued a temporary restraining order against Kalshi, blocking the platform from offering sports-related event contracts in the state.Jurisdiction over prediction market platforms is an ongoing dispute between the CFTC and multiple state regulators.　　The state of Michigan issued a temporary restraining order on Kalshi, barring the prediction market platform from offering sports-related event contracts in the U.S. state.　　Ingham County Circuit Court Judge Rosemarie E. Aquilina issued the order on Monday, according to a statement from Attorney General Dana Nessel. The temporary restraining order lasts for 14 days, meaning that it will remain in effect until July 13.　　The order also stipulates that the court would fine Kalshi $120,000 for each day it does not comply with the geo-fencing requirements it imposes.　　“Our gambling laws exist to protect Michiganders from unlicensed, predatory operations, and failing to comply with them carries serious legal consequences,” Nessel said in the statement.　　The restraining order comes after the Western District of Michigan court granted Nessels motion to remand the states lawsuit against Kalshi back to the state court. Kalshi had attempted to remove the case to the federal level.　　Michigan authorities filed a lawsuit against Kalshi in March, claiming that the federally regulated prediction market platform

06-30Industry

Benchmark sees over 500% upside in Strategy, reiterates $570 target on new capital framework

Quick TakeBenchmark reiterated its Buy rating and $570 price target on Strategy, citing the companys new Digital Credit Capital Framework.　　Benchmark Equity Research reiterated its Buy rating and $570 price target on Strategy after the company introduced a five-component capital framework that expands its ability to repurchase securities, monetize bitcoin holdings, and manage capital deployment during periods of market stress.　　Strategy shares closed up 12.6% at $92.68 on Monday, according to The Blocks MSTR price page. Benchmarks $570 target implies approximately 515% upside from that closing price.　　Mondays gain followed Strategys announcement of its new Digital Credit Capital Framework. The initiative includes a $2.55 billion reserve representing 17.4 months of dividend coverage, a $1 billion common stock repurchase program, a $1 billion preferred share buyback plan across its STRC, STRF, STRD and STRK issues, and board authorization to sell up to $1.25 billion in bitcoin from its 847,363 BTC treasury.　　In a note to clients, Benchmark analyst Mark Palmer said the framework formally grants management permission to run Strategys capital machine in “reverse” when market conditions demand it. That includes repurchasing common and perpetual preferred shares, monetizing bitcoin holdings to meet obligations, and pausing common issuance when the shares no longer trade at a

06-30Industry

Bitcoin ETFs Lose $696 Million as Blackrock and Fidelity Lead Broad Crypto Selloff

Crypto ETF flows deteriorated sharply on Thursday, June 25, as bitcoin ETFs posted a sixth straight day of outflows, with redemptions reaching $696 million. Ether funds also saw heavy exits, while HYPE and solana ETFs joined the selloff.　　Key TakeawaysBitcoin ETFs lost $696.29M on June 25, with Fidelity and Blackrock leading outflows.Ether, HYPE, and solana ETFs also turned negative, signaling broader risk-off sentiment.Morgan Stanleys MSBT added $9.17M, but ETF demand remains weak across crypto markets.　　HYPE ETFs Turn Negative After Weeks of Inflows as Crypto Selloff Widens　　The pressure that had been building all week finally broke into a wider rout.　　Bitcoin ETFs suffered their largest daily outflow of the week, pushing total weekly redemptions to about $1.35 billion. What began as a steady withdrawal from major funds has now become a broader retreat, with selling spread across nearly the entire bitcoin ETF complex.　　Bitcoin ETFs Face Broad-Based Selling　　Bitcoin ETFs recorded $696.29 million in net outflows, marking the categorys sixth consecutive day in negative territory. The exits were spread across eight funds.　　Fidelity‘s FBTC led the losses with a $274.48 million outflow, narrowly ahead of Blackrock’s IBIT, which lost $265.68 million. Ark & 21Shares‘ ARKB saw $82.11 million leave, while Invesco’s BTCO posted a $53.03 million

06-26Industry

Gomining Mines First Live Stratum V2 Bitcoin Block, Shifting Control to Miners

Digital mining firm Gomining said it mined the first live Bitcoin block using the Stratum V2 protocol via the DMND mining pool.　　Key TakeawaysGomining mined the first live Bitcoin block via DMND pool, letting miners pick transactions.Gomining bypassed centralized pool operators for over a decade of tradition by constructing its own template.Advocates expect this production milestone to drive global adoption of Stratum V2 across mining networks.　　A Milestone for Miner Autonomy　　Digital mining firm Gomining revealed Thursday, June 25, that it successfully mined the first known live Bitcoin block utilizing the Stratum V2 protocol. The block was produced in a live production environment using the DMND bitcoin mining pool. The achievement demonstrates a functional blueprint for miner-controlled block creation, a structural shift away from the centralized transaction selection models that have long dominated the cryptocurrency mining sector.　　For more than a decade, mining pools have held primary control over which transactions are included in Bitcoin blocks. Gomining bypassed this dynamic by leveraging Stratum V2s job declaration functionality via the DMND pool, according to a media statement. This allowed the company to locally construct and declare its own block template rather than relying on a pool operator to select transactions.　　“This block demonstrates that miners can

06-26Industry

Ethereum (ETH) Price Prediction: ETH Holds $2K as Bulls Eye Recovery Towards $2,570

Ethereum price is still fighting to hold one of its most important short-term zones as the market remains split between bearish pressure and early recovery signals. ETH is trading near the $2,024 level, with price moving mostly sideways after another volatile session around the $2,000 region.　　Ethereum Price Holds Above $2,000, But Momentum Looks Weak　　Ethereum price is still holding above the $2,000 level, but the structure does not look fully convincing yet. The latest price action shows ETH recovering from intraday weakness, but the market has not produced a strong breakout that would confirm a clean trend reversal.　　Ted noted that ETH Ethereum price is holding above $2,000, but warned that spot demand is fading, ETFs are selling, and every small pump is getting retraced. His chart suggests that unless Ethereum can regain stronger momentum above the $2,050 region, the risk of another correction remains active.　　This makes the $2,000–$2,050 area very important. If buyers continue defending this zone, ETH can still attempt a short-term recovery. But if the market keeps rejecting below nearby resistance, traders may continue treating the bounce as weak rather than a confirmed reversal.　　ETH/BTC Reaches a High-Timeframe Support Zone　　Another important signal comes from the ETH/BTC chart. Ethereum has been

05-31Ethereum

Ethereum (ETH) Price Prediction: ETH Holds $2K as Bulls Eye Recovery Towards $2,570

05-31Industry

Wall Street’s trillion-dollar dilemma: Why AI-powered hackers are keeping big banks off the blockchain

Traditional financial institutions are preparing to move trillions of dollars of assets onchain, but the risk of hacks and exploits is putting them off, according to blockchain security firm CertiKs CEO Ronghui Gu.　　“Right now, more and more institutions are trying to move assets onchain,” Gu told CoinDesk in an interview. “They imagine that, lets say in 10 years, multiple trillion dollars — even tens of trillions of dollars — of assets are going to move onchain.”　　The potentially massive migration of financial assets is hitting a wall because, although bankers and legacy institutions want to capture the efficiency of decentralized ledgers, the current operational reality is still too risky for conservative capital allocators.　　“When they move assets onchain, they need to face all these AI attacks, smart contract vulnerabilities, oracle manipulation, and cross-chain bridge hacks,” Gu explained. “So, thats being considered as one of the major blockers for all this TradFi to move trillions of dollars of assets onchain.”　　Gu said their concerns are legitimate, noting that CertiK detected hacks nearly every day in April, making it the worst month in four years, fueled mostly by AI-driven attacks, notwithstanding “April was the worst month in four years with only three days without a

05-31Industry

Todd, Back, Sassaman, and Finney Named Satoshi in 3 Investigations That Found No Proof

The Hunt for Satoshi Nakamoto Heats up Again as 3 New Investigations Name Suspects　　Over the years, prior to a hiatus, a string of self-proclaimed Satoshi Nakamotos and outside accusations have kept ‘s origin story permanently unsettled. From Craig Wright’s long-running legal campaign to a parade of cypherpunk candidates, the search has become a recurring fixture in media, and interestingly, the trend is really picking up steam again.　　Between October 2024 and April 2026, three high-profile investigations, including a HBO documentary, a New York Times deep dive, and a feature-length film, each pointed to a different person or pair of people as the pseudonymous creator of . None delivered a smoking gun, and none produced the cryptographic proof that would settle the question.　　Peter Todd Steps Into the Spotlight　　The onset of the new wave began on Oct. 8, 2024, when HBO released “Money Electric: The Mystery,” directed by Cullen Hoback. The film argued that Peter Todd, a Canadian Core developer, was Satoshi Nakamoto. Hoback built his case around Todd‘s early cypherpunk activity, forum posts, his use of Canadian English, and what the director framed as suspicious technical overlap with Satoshi’s final known writings. The film documented that Todd was communicating with Hal Finney

05-31Industry

Google Unveils Gemini Omni and Gemini 3.5 Flash AI Models

Google has unveiled its latest AI innovations, Gemini Omni and Gemini 3.5 Flash, during its annual I/O event on May 19, 2026. These models represent a significant leap in AI capabilities, with Omni focusing on multimodal media generation and Flash designed for complex, task-oriented workflows.　　Gemini Omni is positioned as a “world model” capable of synthesizing inputs like text, images, video, and audio into high-fidelity video outputs. Key features demonstrated include conversational video editing, where users give natural language prompts to modify scenes iteratively. For example, Omni can “dim the lights,” “transform objects,” or even “reimagine settings” with photorealistic precision. This makes it particularly appealing for content creators and media professionals looking to streamline workflows.　　Meanwhile, Gemini 3.5 Flash is Googles latest “action-oriented” AI model, optimized for tasks requiring advanced reasoning and multi-step execution. The model excels in coding, collaborative workflows, and creating rich, interactive outputs such as dashboards or fractal visualizations. One notable demo highlighted its ability to generate and refine user experience (UX) designs within seconds using iterative loops. Flash also powers new features in the Gemini app and Google Search, including AI agents capable of autonomously organizing data, managing tasks, and delivering actionable insights.　　Market Impact and Context　　The launch of

05-31Industry

Grayscale says Hyperliquid could become a ‘financial services juggernaut’

Hyperliquid (HYPE), a decentralized trading platform that began as a crypto perpetual futures exchange less than three years ago, is increasingly being viewed by Wall Street analysts as a broader financial infrastructure play that could challenge parts of traditional exchanges and derivatives markets.　　In a new report, Grayscale described Hyperliquid as a fast-growing blockchain-based platform that generated roughly $800 million in revenue in 2025 while capturing meaningful market share in crypto perpetual futures, one of the largest segments of digital asset trading.　　“Hyperliquid is not directly comparable to another project in either crypto or traditional finance,” Grayscale wrote. “If it continues to execute well … we think Hyperliquid could become a financial services juggernaut.”　　Perpetual futures, or “perps,” are derivatives contracts that allow traders to speculate on asset prices without expiration dates. The market has become a cornerstone of crypto trading, averaging roughly $200 billion in daily volume this year, according to Grayscale.　　Historically, the market has been dominated by centralized exchanges such as Binance and Bybit. Hyperliquid, however, earlier this year emerged as one of the first decentralized exchanges to compete at scale while offering self-custody and onchain transparency.　　The platform processed roughly $2.9 trillion in perpetual futures volume in 2025 and now holds

05-31Industry

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