Bitget Daily Digest (7.3)｜U.S. SEC Halts Grayscale ETF Conversion; OpenAI Denies Robinhood’s Tokenized Shares Launch

Today’s Preview

1. The US EIA Weekly Crude Oil Inventory (ending June 20) will be released today; previous value: -11.473 million barrels
2. Fed Chair Jerome Powell will deliver the Semiannual Monetary Policy Report before the Senate Banking, Housing, and Urban Affairs Committee today
3. AltLayer (ALT) will unlock approximately 240 million tokens, accounting for 6.83% of its circulating supply, valued at around $6.7 million
4. Venom (VENOM) will unlock about 59.26 million tokens, or 2.84% of its circulating supply, valued at roughly $10 million
5. Aria, the Story ecosystem RWA protocol, will open APL claims on June 25

Macro & Hot Topics

1. Israel announced it will halt further military strikes on Iran after a call between US and Israeli leaders. Iran’s president said he is prepared to engage in dialogue at the negotiating table. Iran also pledged not to violate the ceasefire if Israel abides by the agreement. The Israeli military claimed its strikes have delayed Iran’s nuclear program by years. Israel’s transport minister announced plans to fully reopen the country’s airspace. The Qatari prime minister hopes Gaza ceasefire talks will resume within two days and urges Israel not to expand operations in Gaza amid the Iran ceasefire. Chinese foreign minister Wang Yi spoke with his Iranian counterpart, stating China supports Iran in achieving true ceasefire while safeguarding its sovereignty and security.
2. Texas government will allocate $10 million to buy Bitcoin. According to recent reports, Texas Governor Greg Abbott has signed Senate Bill 21, making Texas the first US state to establish a publicly funded Bitcoin reserve. The state will spend $10 million on Bitcoin purchases, becoming the nation’s first to directly inject funds (not just authorize) into a crypto reserve. Texas Blockchain Council Chair Lee Bratcher commented that though the investment is only 0.0004% of the state budget, it signals Texas’s commitment to the digital financial future. Supporting bill HB 4488 also takes effect, prohibiting the transfer of the Bitcoin reserve into regular state revenue.
3. Chainlink partners with Mastercard to enable on-chain crypto purchases for 3 billion users. Mastercard and Chainlink have struck a deal allowing over 3 billion cardholders worldwide to convert fiat to crypto and purchase digital assets directly on-chain using their credit cards. The integration incorporates compliance technology from Zerohash, with Swapper Finance, Shift4 Payments, XSwap, and Uniswap supporting a seamless user experience. In a joint statement, Chainlink and Mastercard said global cardholders will be able “to securely convert fiat to crypto and purchase digital assets on-chain,” aiming to lower the barriers that have long kept mainstream users out of the on-chain economy.
4. Solana treasury company Upexi shares plunge 60% as investors offload 43 million shares. Upexi (UPXI), the Solana asset management firm, saw its stock price plummet 60% at Tuesday’s open, falling below $4 (now $3.82), as investors registered for the sale of 43.85 million shares—matching the firm’s initial float from April. Upexi previously raised $100 million to build its Solana treasury and currently holds 679,677 SOL tokens. Though investment bank Cantor Fitzgerald has set a $16 target price for Upexi and sees growth potential in Solana as a treasury asset, the oversupply of stock has severely weighed down share prices.

Market Updates

Institutional Views

News Updates

1. Powell: The Fed neither holds nor seeks the legal authority to purchase Bitcoin
2. Powell dismisses the chance of a rate cut in July
3. The BIS says stablecoins have failed “three key tests”
4. Japan’s FSA is considering including crypto assets under the Financial Instruments and Exchange Act, with potential for separate taxation and a Bitcoin ETF
5. Trump claims both Israel and Iran have violated the ceasefire and says Iran’s nuclear capability has been eliminated

Project Developments

1. Public company DeFi Dev Corp launches Dogwifhat validator node, plans to share WIF staking rewards with the community
2. Mastercard leverages Chainlink for on-chain fiat-to-crypto conversion for cardholders
3. Grayscale launches Space and Time Trust, providing investment exposure to SXT
4. NYSE Arca files 19b-4 applications for Truth Social Bitcoin and Ethereum ETFs
5. The US SEC delays its decision on the 21Shares spot Polkadot ETF
6. Aethir launches the second season of Cloud Drop airdrops, rewarding node holders and long-term contributors
7. CZ: Neither I nor any related entities participated in this round of Nano Labs fundraising
8. Nano Labs raises $500M via convertible bond private funding for BNB reserve strategy
9. Celestia co-founder says with over $100M in treasury, they have 6+ years of runway
10. Several crypto entrepreneurs plan to raise $125M to launch SuiStrategy, a SUI treasury strategy firm

X Highlights

1. Phyrex: Ceasefire expectations ease risk; BTC returns to pre-war range but concerns remain Today’s market is focused on the Middle East conflict moving into a fragile ceasefire stage; with Hormuz Strait blockade risk easing and ceasefire implementation, BTC sentiment rebounded. Powell’s testimony was neutral—no rate cuts mainly due to tariff pressure, with a more likely turning point in September. On-chain data show support at $93K–$98K has held, with $100.5K–$105K accumulation rising but stability unproven. Overall, if the ceasefire holds and oil stabilizes, BTC’s short-term outlook is optimistic, but geopolitical risk and selling pressure should be monitored, and a real breakout still needs new catalysts. Original: https://x.com/Phyrex_Ni/status/1937619882453139467
2. CryptoMaid Ojou-sama: “Shell companies” in US stocks and the true nature of the Summer meta Crypto company listing strategies on US exchanges have become standardized: MicroStrategy ($MSTR) raising funds for BTC, EYEN for Hype, SBET for ETH, DFDV tracking Solana, SRM tied to TRON—all just wrapping up tokens, raising money, buying mainstream coins, then hyping up “on-chain proxy stocks” to retail on Wall Street. This so-called Summer meta is, in essence, a cycle of shell companies, liquidity looping, and constant repackaging. There’s always old wine in new bottles in crypto; the key is finding what resonates and acts as a vehicle for speculation while the rest is left to market conditions. Original: https://x.com/maid_crypto/status/1937536090266832957
3. Crypto Weituo: Humanity’s token listing drama: a play of black-and-red traffic and contract battles The current disputes around Humanity airdrops and founders fighting publicly point to two major factors: 1) The listing process is likely set—PR storms won’t change the predetermined interests of exchanges and the project team; 2) The project team tightly controls supply and stirs up drama intentionally, generating attention for future contract squeezes and deep leverage games. Zero-cost projects are usually sold immediately after listing; without conflict-driven hype, the spot market alone can’t handle the expected valuation, so contracts serve as the main exit ramp. Drama brings depth to the listing competition as angry shorters and savvy players battle out dynamics. Pre-TGE PR is “hype-building” that barely matters to secondary users. Skilled token gamers can catch these rotations; others should ignore. There’s never “easy money” in the real arena. By the way, there are actually paid FUD services—the entire ecosystem is built on hype and carefully crafted scripts. Original: https://x.com/thecryptoskanda/status/1937535069515902992
4. Crypto_Painter: Virtuals is all about “cycles,” not “actions”—four-step points farming logic Virtuals’ slump and rampant points inflation has left many “farming” with little to show—missing out on new tokens and even losing money. The key isn’t actions but timing the right cycles—each lasting 14–28 days. The best tactics: sowing (accumulate points and gradually increase stakes), maintenance (delay staking, use soon-to-expire low-stakes points), harvest (ALL IN points when big oversubscription is coming, then exit at launch), and tilling (reinvest profits after harvest, expand base for next round). Though daily points accrue linearly, dilution erodes efficiency—so after cashing out, waiting for a new cycle is best. The later a T1 project launches, the more “free agents” who exited early are ready to farm again. Quiet accumulation and patience in the slow market is the best prep for the next breakout. Original: https://x.com/CryptoPainter_X/status/1937644854886170762