Important information last night this morning (June 23-June 24)

**Midnight Network Unveils NIGHT Token Economics and "Glacier Airdrop" Mechanism**  

According to Coindesk, privacy-focused blockchain project Midnight Network has released its tokenomics whitepaper and announced the "Glacier Airdrop" mechanism for its native NIGHT token, with claims opening next month. The airdrop will occur in three phases across eight blockchain ecosystems, including Bitcoin and Ethereum. During the 60-day claim period starting in July, eligible wallets holding at least $100 in native tokens at the pre-snapshot time can claim their full allocation. This will be followed by a 30-day "Treasure Mining" phase, where unclaimed tokens will be redistributed via a proof-of-work-like mechanism to participants completing computational tasks. After the mainnet launches later this year, a four-year "Lost & Found" phase will allow original claimants who missed the initial window to recover portions of their allocation through self-verification. To prevent supply shocks, NIGHT tokens will unlock randomly in four tranches over 360 days. Midnight Foundation Chair Fahmi Syed stated this mechanism reflects the vision of "rational privacy," enabling developers to finely control on-chain data sharing. Eligibility snapshots are complete, and users can now check their status.  

**Hong Kong’s VMS Group Enters Crypto Space with Up to $10M Allocation to Re7 Capital**  

Bloomberg reports that Hong Kong multi-family office VMS Group plans to allocate up to $10 million (final amount undetermined) to strategies operated by decentralized hedge fund Re7 Capital, marking the wealth manager’s first foray into crypto. Managing partner Elton Cheung cited declining traditional private equity liquidity and rising client demand for digital assets. London head Zhi Li added that VMS is exploring crypto payments for its Vietnamese real estate projects and noted strong interest from younger family members in compliant digital asset allocations.  

**Circle’s Market Cap Briefly Nears Coinbase**  

Per The Block, stablecoin issuer Circle (CRCL) hit $298 intraday Monday, reaching a fully diluted market cap exceeding $77 billion—surpassing its USDC stablecoin’s $61 billion valuation and approaching Coinbase’s $77.8 billion cap. Circle has surged nearly 600% since its $31 IPO on June 5, gaining 12% Monday alone. Two Prime Digital Assets CEO Alexander Blume highlighted a valuation paradox, as Coinbase captures 50% of USDC reserve revenue and has diversified business lines. Bitwise CEO called this a sign of "mainstream capital flooding into crypto." Circle closed at $263.45.  

**Iranian FM: No Ceasefire "Agreement" Reached with Israel**  

Iran’s foreign minister stated that no "agreement" has been reached to halt military operations between Israel and Iran, per Jin10.  

**Texas Allocates $10M to Bitcoin Reserve, First State to Fund Crypto Holdings**  

CoinDesk reports that Texas Governor Greg Abbott signed Senate Bill 21, making Texas the first U.S. state to establish a publicly funded Bitcoin reserve with an actual $10 million allocation (0.0004% of the state budget). Texas Blockchain Council Chair Lee Bratcher called this a symbolic endorsement of digital finance. Companion bill HB 4488 also took effect, barring the transfer of Bitcoin reserves into general state revenue.  

**Ark Invest Sells $110M Worth of Circle Shares**  

ARK Invest, led by Cathie Wood, sold 415,844 Circle shares on June 23 across three funds, totaling ~$110 million at the closing price of $263.45.  

**Whale Purchases $13.88M ETH, Now $690K in Profit**  

On-chain analyst @ai_9684xtpa tracked a whale buying 6,037.24 ETH at $2,299 ($13.88M total), now up $690K.  

**Grayspace Registers Space and Time (SXT) Trust in Delaware**  

Market sources confirm the registration.  

**Iran Official: Trump’s Ceasefire Claim a "Provocative Trick"**  

An advisor to Iran’s parliamentary speaker called Trump’s ceasefire announcement a "ploy to provoke Iran," per CCTV via CLS.  

**Ex-Coral Capital Execs to Launch BNB Reserve Firm, Raising $100M**  

Bloomberg reports former Coral Capital Holdings executives plan to raise $100M for Build & Build Corporation, a Nasdaq-listed entity focused on BNB reserves. The team emphasized BNB’s independence from Binance, per CZ’s recent remarks.  

**Whale Loses $2.87M on BTC Short, Gains $2.44M on Long**  

AguilaTrades liquidated a 20x BTC short at a $2.87M loss during a rebound to $105,316, then opened a $133M long at $103,469, now $2.44M in profit.  

**Fed Drops "Reputation Risk" from Bank Reviews, Potentially Aiding Crypto Services**  

The Block notes the Fed removed "reputation risk" from bank exam criteria, shifting to concrete financial metrics. This could ease banking access for crypto firms, aligning with OCC and FDIC standards. Wyoming Senator Cynthia Lummis called it a "step forward."  

**Trump Media: $400M Stock Buyback Won’t Affect Bitcoin Strategy**  

The Block reports Trump Media & Technology Group (DJT) will proceed with its Bitcoin treasury plan despite a $400M stock repurchase, funded by a $2.3B private placement.  

**Fiserv to Launch Stablecoin with Circle, PayPal**  

Reuters states Fiserv (FI) plans a year-end stablecoin (FIUSD) using Paxos and Circle infrastructure, with PayPal interoperability for cross-border transfers. Timing aligns with anticipated GENIUS Act passage.  

**Iran Confirms Acceptance of U.S.-Proposed Ceasefire**  

Per Reuters via Jin10, Iran agreed to a Qatar-mediated ceasefire with Israel, following Trump’s announcement of a phased truce.  

**New Crypto VC Frachtis Raises $20M for AI-Blockchain Focus**  

The Block details Frachtis’ $20M raise for decentralized infrastructure and apps, backed by Chorus One and others, with eight portfolio projects already.  

**Coinbase to List Sonic (S)**  

Trading pairs will launch June 24 PT if liquidity conditions are met, with regional restrictions.  

**CZ: BNB Expansion Projects Are Independent of Binance**  

CZ tweeted support for third-party BNB initiatives but stressed BNB’s independence from Binance entities.  

**Circle Surges 24%, Nears $300**  

CRCL rallied 24% intraday, approaching $300.  

**$360M in Crypto Liquidations in 24 Hours**  

Coinglass data shows $169M longs and $191M shorts liquidated, with BTC ($106M) and ETH ($125M) leading.  

**Iran May Strike U.S. Bases "Within Hours"**  

Iranian media cites officials warning of imminent attacks on U.S. facilities.  

**Iran Seeks Direct U.S. Costs, Prepares for 2-Year War**  

CNN quotes an Iranian official demanding direct U.S. accountability, estimating a potential two-year conflict.  

**Binance HODLer Airdrop #24: Newton Protocol (NEWT)**  

Binance will distribute 12.5M NEWT (1.25% of supply) to users who staked BNB between June 14–17. Trading starts June 24 UTC.  

**China Targets 5–10% Gold Resource Growth by 2027**  

A nine-ministry plan aims to boost gold/silver output over 5%, deepen mining tech, and enhance financial security.  

**MegaETH-Based DEX GTE Raises $15M Series A Led by Paradigm**  

The Block reports GTE’s funding to build a low-latency, decentralized CLOB exchange on MegaETH, already testing with 700K users.  

**ECB’s Lagarde Urges Digital Euro Legislation**  

Lagarde pushed EU lawmakers to expedite frameworks for a potential digital euro.  

**YZi Labs Invests in Blueprint Finance’s $9.5M Round**  

Blueprint, developer of Concrete (Ethereum) and Glow (Solana), will expand institutional DeFi tools with the funding.  

**ECD Auto Designs Secures $500M for Bitcoin Treasury**  

The luxury car restorer will use the equity raise to fund BTC acquisitions and offer BTC-purchase incentives.  

**Binance Wallet Launches Codatta Pre-TGE Event**  

Users can pre-subscribe to XNY tokens or join a 12-week Booster program for a 6% XNY airdrop pool.  

**Brazil’s Méliuz Buys 275 BTC for $28.6M**  

The public tech firm now holds 595.67 BTC at an average $102,702.84.  

**Veda Raises $18M for DeFi Infrastructure**  

CoinFund led the round for Veda’s modular vault framework, which powers platforms like ether.fi and Berachain.  

**Pompliano’s ProCap Financial Merges at $1B Valuation**  

The SPAC deal with $750M funding aims to build Bitcoin-native financial products.  

**ZachXBT Exposes $4M Coinbase Impersonation Scam**  

A New York call center tricked users into phishing wallets, with stolen funds gambled on Roobet and converted to XMR.  

**Strategy Adds 245 BTC ($26M) to Holdings**  

The firm’s SEC filing reveals an average $105,856 purchase price, bringing its total to 592,345 BTC ($70,681 avg).  

**Unicoin to Acquire Diamond Lake for Altcoin Treasury Push**  

Despite SEC charges over a $100M alleged fraud, Unicoin plans a $70M+ takeover to emulate Strategy’s BTC model with altcoins.  

**BlackRock Moves 8,172 ETH to Coinbase, Signaling Possible Sale**  

Lookonchain notes this marks a potential shift after over a month of accumulation.  

**Romania Plans Crypto and Social Media Income Taxes**  

The new government targets taxation on crypto gains and platform earnings, per Jin10.  

**Binance Alpha to List Mango Network (MGO)**  

Trading starts June 24, with eligibility based on Alpha Points.  

**Sequans to Raise $384M for Bitcoin Treasury**  

The NYSE-listed IoT firm announced a private placement to fund BTC reserves.  

**Trezor Warns of Phishing Attacks Via Contact Form**  

Users are urged never to share seed phrases after attackers impersonated support staff.  

**U.S. Base in Syria Reportedly Attacked**  

CGTN Europe cites Iranian sources claiming the strike.  

**Iranian Currency Depreciates Over 20%**  

Most exchange desks now reject the rial amid conflict spillover effects, per CCTV.  

**HTX Shuffles $500M USDT Between Chains**  

Whale Alert tracked transfers from Ethereum to Tether Treasury, then to HTX via Tron.  

**CoinShares: $1.24B Crypto Inflows for 10th Straight Week**  

Bitcoin ($1.1B) and Ethereum ($124M) led, while Hong Kong and Switzerland saw outflows.  

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