Hyperliquid Strategies announced a $1 billion treasury plan that will buy HYPE tokens on public markets, a move that raises questions about the token's liquidity and the company's ability to fund future capital raises.

Hyperliquid Strategies, a crypto-focused firm, built its treasury around the HYPE token. Its latest SEC filing shows that the strategy relies on a committed equity facility with Chardan that permits up to $1 billion in common-stock sales, with the company deciding when to sell shares. The initial private investment, known as a PIPE, included $299.9 million in cash and 12.5 million HYPE tokens valued at $580.5 million at signing, for an aggregate fair value of $880.4 million. By the time the transaction closed, the HYPE tokens were worth $411.3 million, resulting in a $169.2 million unrealized loss before any additional token purchase.

As of May 14, Hyperliquid held roughly 20.8 million HYPE, the largest HYPE position among U.S. public companies. The filing warns that market instability could force the firm to sell HYPE at unfavorable prices. Grayscale filed a preliminary prospectus for a Hyperliquid Staking ETF on May 26, noting that the trust would hold HYPE directly and could include staking rewards, though staking and unstaking periods are 24 hours and seven days, respectively. Grayscale cautions that the limited number of validators—33 as of June 9—could coordinate to influence transaction ordering and governance, a concern underscored by two prior incidents in which validator actions caused significant token price volatility and losses.

The outcome will depend on how quickly HYPE's market cap can grow relative to open interest and liquidation volume, whether the ETF launches and attracts investors, and whether the firm can absorb monthly vesting of core-contributor tokens without moving the price. If liquidity proves insufficient, public market access may increase volatility rather than mitigate it.

Swift, the world's largest financial messaging network, said its blockchain-based ledger is ready for initial use after nine months of development. Seventeen major banks, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and Standard Chartered, will pilot tokenized deposit cross‑border payments on the ledger, enabling 24/7 transactions, including overnight and weekend payments, while maintaining existing compliance, credit, risk and control standards. The ledger links more than 11,500 banks and financial institutions in over 200 countries and territories, with about 75% of payments reaching beneficiaries within ten minutes. According to Swift's chief business officer, Thierry Chilosi, the development marks a key milestone for regulated digital assets, allowing tokenised value to move across borders quickly and flexibly while preserving the security and compliance required by global finance. Swift plans to expand the ledger's functionality and availability after the initial controlled go‑live phase. The pilot follows a consortium of banks that announced a separate tokenized deposit network to launch in the first half of 2027, and recent New York Stock Exchange partnerships with tokenization platforms to build blockchain infrastructure for securities and exchange‑traded funds.

Socket security firm reported that a compromised version of the @injectivelabs/sdk-ts npm package, version 1.20.21, was downloaded more than 300 times and distributed through 17 related Injective Labs packages. The malicious code intercepted wallet key‑generation functions, captured private keys and seed phrases, encoded the data and transmitted it via fake telemetry to a server masquerading as an Injective endpoint. The compromised package had approximately 50,000 weekly downloads prior to the alteration. Suspicious commits began on June 8, and the malicious release was later pinned across the 17 packages under the Injective Labs scope. Socket warned that any keys or mnemonics passing through the affected packages should be considered compromised, noting that applications might have been exposed even if they did not install the SDK directly. Injective CEO Eric Chen said the affected npm releases had been deprecated and the issue was resolved, adding that no funds on the Injective network were at risk. CertiK estimated that wallet compromises accounted for $444 million in losses during the first half of 2026 across 33 incidents. Security Alliance’s second‑quarter threat report indicated that attackers increasingly target developer platforms such as GitHub, npm and Google to distribute malware, and that supply‑chain attacks involving infostealers, remote access trojans and backdoors have risen, including macOS‑focused campaigns. Similar incidents occurred in March with Axios npm releases and in May with the TrapDoor campaign, which targeted developers in crypto, DeFi, artificial intelligence and security. GitHub also disclosed unauthorized access to internal repositories on May 20 after an employee device was compromised. Wallet compromises remained the costliest crypto attack vector in the first half of 2026. Injective’s total value locked declined 88 percent from a mid‑2024 peak of $71 million to $8.2 million, according to DefiLlama data. Community members approved IIP‑617 earlier this year to accelerate reductions in new INJ issuance while maintaining existing token burns. The campaign had not been fully contained at the time of reporting.

Private credit funds and U.S.-listed spot Bitcoin ETFs saw substantial withdrawals in the second quarter of 2026, prompting worries about liquidity and risk appetite. The private credit market, estimated at $2 trillion, applies a standard 5% quarterly redemption limit to most business development companies; in Q2 investors requested $15.6 billion, exceeding the cap for ten of sixteen BDCs and leaving many investors partially satisfied. Average redemption requests rose to 10.3% of shares, with individual requests ranging from 1.3% to 38.1% at selected funds. Bitcoin ETFs recorded nearly $5 billion in outflows during Q2, led by BlackRock’s IBIT in June, according to data from SoSoValue, contributing to a roughly 14% decline in Bitcoin’s price, which fell below $60,000 and marked its third consecutive quarterly loss. Analysts noted that the simultaneous rush for liquidity in both asset classes, together with a depleted U.S. strategic petroleum reserve at its lowest level since 1983, suggests eroding buffers against market risk. Fitch warned that continued redemptions may persist, as the 5% cap may be insufficient to meet demand in upcoming quarters. QCP Capital observed that the SPR drawdown, government sales of Bitcoin to fund dividends, and the breach of redemption caps in private‑credit funds indicate that market buffers are weakening. These developments point to a tougher environment for risk‑asset investors, though no definitive policy response has been announced. The situation remains unresolved as investors monitor future redemption trends and potential policy actions.

Zcash will activate its Ironwood network upgrade on July 28, replacing the Orchard shielded pool after a counterfeit token vulnerability was disclosed. The change forces funds leaving Orchard through an accounting checkpoint that could reveal whether counterfeit ZEC had been created. The vulnerability, reported by Shielded Labs, could theoretically allow unlimited creation of counterfeit ZEC. Developers temporarily disabled Orchard transactions with a network update on June 3 after the NU6.2 hard fork fixed the underlying issue. Zcash core developer Sean Bowe said the activation will occur at block height 3,428,143, expected around 8 a.m. EST. The upgrade requires exchanges, mining pools and wallet providers to migrate to the new Z3 stack, including Zebra, Zaino and Zallet. Major organizations have committed to the activation. Once live, the Orchard pool will stop accepting new activity and users will move funds to a new private pool, where each transaction must pass an accounting checkpoint before entering Ironwood. Shielded Labs said the checkpoint could expose any counterfeit ZEC, though it said no evidence of exploitation had been found. ZEC fell about 50% after the June 3 disclosure but has recovered to around $492.61, and more than 80% of the 21 million maximum supply has now been issued. The upgrade is set to proceed as scheduled, and the network will continue operating with the new privacy mechanism.

Labour MPs have proposed making a permanent ban on cryptocurrency donations to political parties after Nigel Farage resigned amid investigations into multimillion‑pound gifts from crypto industry figures. The temporary ban on digital asset contributions was introduced in March following concerns about potential undue influence from wealthy donors. Labour MP Liam Byrne, chair of the business select committee, tabled amendments to existing donation rules that would prohibit all cryptocurrency gifts, according to The Guardian. Byrne said the changes aim to strengthen safeguards against political influence from large donors, noting recent revelations that Farage received a gift valued at roughly $6.7 million from Harborne and additional support from George Cottrell, who has a prior wire‑fraud conviction and ties to the crypto casino Tether.bet. Parliament’s standards commissioner is investigating the donations, and Farage’s resignation triggered a by‑election in his Clacton constituency. The Conservative, Liberal Democrat, Green Party and Labour parties are not expected to field candidates in the Clacton by‑election, and Prime Minister Keir Starmer described Farage’s decision as a “desperate stunt.” Labour is simultaneously selecting a successor to Starmer; Andy Burnham, who recently returned to Parliament after winning a by‑election in Makerfield, is considered a likely candidate and has previously advocated for a “Web3 powerhouse” in Greater Manchester. The House of Commons is set to debate the amendment next week, and the outcome could shape future Financial Conduct Authority oversight of digital assets in the United Kingdom.

Paul Grewal, Coinbase’s chief legal officer since 2020, will transition to an advisory role at the exchange effective July 31. Molly Abraham and Ryan VanGrack will assume the positions of general counsel and vice chair, respectively, following statements posted on X and LinkedIn. As CLO, Grewal guided the legal team through the 2023 SEC enforcement action that alleged Coinbase operated as an unregistered securities exchange, broker and clearing agency; the lawsuit was later dismissed under the Trump administration. He said the incoming chief legal officer will likely have significant influence over U.S. crypto policy and regulation. Coinbase executives, including CEO Brian Armstrong, have built strong ties with the White House and lawmakers supportive of crypto legislation, and the company contributes heavily to the Fairshake political action committee. Armstrong has met with former President Donald Trump and has advocated for the Digital Asset Market Clarity Act, which aims to move regulatory authority for digital assets from the SEC to the Commodity Futures Trading Commission. The Senate is on a state work period and is expected to reconvene on Monday, potentially voting on the bill. Coinbase has not responded to inquiries for further comment. The move reflects ongoing changes within the exchange’s leadership team.

Bitcoin rose 3.5% to near $64,000 on July 10, 2026, finishing the week up 4.2%. The price had fallen to about $61,850 earlier before recovering. Trading volume reached roughly $28 billion in the last 24 hours. Ether climbed 2.6% to $1,760 and was up 4% for the week. Solana edged higher to $78 but remained down 2.1% for the week, the only major token still negative. XRP rose 2.2%, TRON 1.2%, and dogecoin 2.6% while down 0.8% for the week. Analysts said the move was driven by leveraged liquidations, a weaker dollar and a rally in Asian semiconductor and AI‑related stocks rather than crypto‑specific news. Shawn Young, chief analyst at MEXC Research, noted that bitcoin is now trading between $60,000 and $63,000. MSCI’s Asia Pacific equity index rose 1.4% as investors returned to semiconductor shares, cutting the week’s loss to under 1%. South Korea’s Kospi jumped 4% and SK Hynix rose after pricing $26.5 billion of American depositary shares. The yen strengthened 0.6% and long‑dated Japanese government bond yields fell after Finance Minister Satsuki Katayama said pension funds should increase domestic holdings. The Bloomberg dollar gauge fell for a second straight week. No ETF flows, protocol updates or exchange failures occurred. Bitcoin’s gain reflected broader market pressure, including an oil shock, a global bond sell‑off, a hawkish Fed re‑pricing and two U.S. strikes on Iran, while the dollar’s decline helped the price rise. The dollar’s third consecutive weekly decline will be key; if the currency continues to fall while AI‑driven semiconductor gains persist, bitcoin’s recent momentum may continue.

Security firm Socket reported on Thursday that a popular npm package used for building on the Injective blockchain was modified to steal cryptocurrency wallet private keys and seed phrases. The package, which recorded roughly 50,000 weekly downloads, was altered to capture wallet keys and then send them to a server masquerading as an Injective network endpoint. The attack is a supply chain compromise in which hackers compromise trusted developer tools rather than directly targeting blockchain protocols. Injective, an interoperable layer‑1 platform for decentralized finance, has seen its total value locked drop 88% to $8.2 million from a $71 million peak in mid‑2024, according to DefiLlama. Version 1.20.21 of the @injectivelabs/sdk‑ts npm package was changed through a compromised developer GitHub account, with suspicious commits beginning on June 8. The malicious code intercepted functions that derive wallet keys, copying seed phrases or private keys whenever developers used those functions. The stolen data were encoded and transmitted to a web address that resembled a legitimate Injective server. Socket advised that any keys or mnemonics processed by the affected package should be treated as compromised. The package was downloaded 310 times in total. The compromised developer detected the intrusion quickly, but the malware had already been downloaded more than 300 times and the campaign was not fully contained. Injective CEO Eric Chen said the issue had been fixed, that the affected npm versions were deprecated, and that no funds on the network were at risk, and that no specific theft of funds had been reported. The Security Alliance (SEAL) noted that attackers are increasingly using legitimate platforms such as GitHub, npm, and Google to deliver malicious payloads, and that malware is becoming more capable, with cross‑platform capabilities including infostealers, remote access trojans and backdoors. A similar supply chain attack targeted Axios npm releases in March, and a campaign called TrapDoor was identified in May targeting crypto, DeFi, AI and security developers. On May 20, GitHub reported unauthorized access to internal repositories after an employee’s device was compromised. CertiK reported that wallet compromises were the most costly attack vector in the first half of 2026, accounting for $444 million stolen across 33 incidents. The incident underscores the continued vulnerability of the cryptocurrency development ecosystem to supply chain attacks, and developers are advised to verify the integrity of packages before use.

A trader on the decentralized exchange Ostium has held a $1.14 million long position in EUR/USD perpetual futures for 400 days, applying a bitcoin-style HODL strategy to a traditional forex pair. The term “HODL,” a crypto slang for long‑term holding of an asset, has been used mainly for bitcoin and ether. Ostium, which uses Nasdaq data, offers perpetual contracts for major currency pairs and applies volatility‑based rollover fees rather than crypto funding rates. The platform processes a negligible share of the more than $9 trillion‑per‑day global foreign‑exchange market. The position was opened around early June 2025 and was intended to profit from an expected appreciation of the euro against the U.S. dollar, Ostium reported. As of the report, EUR/USD was trading around 1.14, a level similar to June 2025 but having peaked at 1.2082 in January 2026, Ostium reported. The trade has incurred an estimated annual holding cost of 2.3 % through predictable rollover fees, Ostium reported. Unlike typical crypto perpetual futures that rely on funding rates, Ostium’s fees are modeled after traditional forex swap mechanics, providing more stable cost predictability, Ostium reported. While the example demonstrates that some market participants are comfortable using blockchain infrastructure for leveraged positions on major traditional assets, it remains unclear whether it will encourage broader long‑term on‑chain trading of foreign‑exchange contracts. The sustainability of such a long‑term, on‑chain forex position is yet to be determined.

Bitdeer Technologies announced a $36 million manufacturing facility in Sparks, Nevada, to produce its SEALMINER Bitcoin mining machines, with commercial production expected by the end of 2026.

The plant will produce key components for the SEALMINER mining rigs, aiming to increase domestic manufacturing capacity and reduce dependence on third‑party suppliers. Nevada Governor Joe Lombardo’s administration and local officials approved tax incentives, including reduced qualifying sales taxes, as part of the investment package, according to Bitdeer CEO Catherine Guo.

Bitdeer’s shares increased 14.1% to $14.33 after the announcement, though the stock remains about 27% below its June peak and has risen roughly 26% since the start of the year. The company reported mining 921 Bitcoin in May, representing a 370% year‑over‑year increase.

While Bitdeer continues to develop AI cloud computing and high‑performance computing services, the Nevada facility will concentrate exclusively on mining hardware. Other publicly traded miners, including MARA Holdings and TeraWulf, have also announced plans to develop AI data center capacity alongside their mining operations. The new factory aligns with a broader industry trend of miners diversifying revenue sources while maintaining a focus on Bitcoin mining infrastructure.

The facility is expected to begin production by the end of 2026, which could enhance Bitdeer’s supply chain control and U.S. presence in the Bitcoin mining sector.

Bitcoin held above $62,000 after renewed United States and Iran hostilities slowed traffic through the Strait of Hormuz, pushing oil prices higher and reviving inflation concerns. Data from CryptoSlate showed Bitcoin trading near $63,000 on Thursday, maintaining a level watched since a June selloff. Brent crude rose 5.2% to $78.02 per barrel, its highest close since June 19, while US crude also climbed and equity and bond markets reflected worries that higher energy costs could sustain elevated inflation. The escalation followed two consecutive days of US strikes on Iranian targets and Iranian retaliatory attacks, which killed 14 people according to Iran’s health ministry. President Donald Trump announced the strikes on Truth Social, saying they were retaliation for attacks on vessels and warned of a stronger response if Iran acted further. The Strait of Hormuz, a critical conduit for oil and liquefied natural gas, saw four tankers turn back, including three empty LNG carriers bound for Qatar’s Ras Laffan terminal, and traffic slowed sharply, with only one tanker observed moving earlier in the day. Shipowners have begun avoiding the route, insurers may raise costs, and reduced vessel flow could tighten energy markets. Ole Hansen, head of commodity strategy at Saxo Bank, said the disruption showed the Strait had not fully reopened and that the removal of geopolitical risk premium may have been premature. The slowdown reversed some of the relief seen after the recent ceasefire, supporting higher crude prices. Russia’s diesel export ban added pressure to global fuel markets. Higher oil prices raise transportation and production costs, increase inflation expectations, lift yields and make it harder for the Federal Reserve to consider easing policy, which could keep financial conditions tight for risk assets. Bitcoin’s price above $62,000 indicates limited immediate selling pressure, according to recent market activity. CryptoQuant analysts noted that Brent crude moving above its annual average historically coincides with tougher conditions for Bitcoin, though the link is not automatic. Sustained oil rallies can feed inflation expectations, raise yields and draw capital away from speculative assets, leaving Bitcoin vulnerable to the same liquidity and policy pressures that affected the market in June. A recovery in tanker traffic would reduce part of the crude risk premium and ease pressure on yields, while a prolonged slowdown would keep inflation concerns front and center for investors and could prompt funds to cut exposure to assets dependent on easier monetary conditions. Ultimately, Bitcoin’s hold above $62,000 indicates the market has not yet treated the renewed conflict as a reason to sell aggressively, but the level is not a clear floor while oil prices remain elevated and Strait of Hormuz traffic stays disrupted.