⚠️ WSJ Accuses Polymarket of Fake Wins

The Wall Street Journal reported that Polymarket paid bloggers to post videos showing supposedly successful bets on its platform. Journalists analyzed over 1,100 videos and claimed most of the displayed bets were fake.

The videos used clone websites mimicking Polymarket’s interface, and some creators showed "wins" using old footage and fake headlines. The campaign amassed over 140 million views on social media.

Polymarket paid bloggers to create fake videos showing winnings, according to WSJ analysis of 1,105 videos from 10 bloggers.

None of the bets were real, creators filmed fake wins on site copies costing $2–3,000 per month. In 118 videos, bloggers "earned" $900,000, while real bets would have lost $166,000.


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⚡️ JUST IN: The Ethereum Foundation announces a reorganisation, cutting 20% of its workforce.

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THORChain resumed operations after a month of downtime with swaps, liquidity, and validator rotation fully restored. RUNE rose by 7%.

The next step is native swaps for Monero and Zcash. The network paused in May following a ~$10 million hack.

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⚡️ JUST IN: Mark Zuckerberg directed Meta to develop a prediction markets app.

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😏 Ethereum Foundation to Cut Budget by 40%

Vitalik Buterin announced that the Ethereum Foundation will reduce its budget by approximately 40% this year. The plan includes shutting down the Privacy and Scaling Explorations (PSE) unit and narrowing its institutional strategy.

The foundation will also hold smaller, less expensive Devcon conferences and focus on specialized developer teams using AI for formal code verification. Currently, it spends about 15% of its reserves annually but aims to cut this to 5% per year after 2030.

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MicroStrategy falls below $100 for the first time since March 2024.

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📈 Bitcoin Could Reach $1 Million by Cycle End

Blockstream CEO Adam Beck believes Bitcoin can hit between $500,000 and $1 million by the end of the current halving cycle without new major catalysts.

He attributes this potential growth to existing drivers like ETF inflows, retail investor interest, and the gradual shift of coins from weak holders to stronger players. Beck also revealed he has made several bets on this outcome and expects Bitcoin to reach these levels faster than most market participants anticipate.

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⚡️ JUST IN: $STRC drops to a new all-time low.

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⚡️ JUST IN: Predictions market Kalshi is in talks to raise funds at a $40 billion valuation.

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Everyone says they want a dip.

...until a dip shows up.

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📉 MemeCore Token Drops 74%, Market Cap Falls $3B

MemeCore (M) plunged 74%, with market cap down $3 billion. The token fell from $2.92 to $0.51 before bouncing to $0.74. The team has stayed silent.

In April, ZachXBT flagged $7.9 million withdrawn to 18 new wallets, insiders pumping price to $6 billion valuation, the team wallet getting 200 million M at launch, and hype from paid posts and launchpad volumes.

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😊 Saylor's Bonds Trade 20% Below Par

Saylor's bonds trade 20% below par at $80 versus a $100 obligation. Despite $1.4B cash and payments secured for 12-13 months, over $10B in bonds face this discount.

In 4 hours yesterday, 9% of open interest was added to shorts. The small crypto market remains shaken.

Is Saylor waiting for a 20-30% discount before buying out sellers?

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🤯 Immutable Shifts from Game Development to AI Tools

Immutable (IMX) is ending in-house game development, cutting nearly its entire dev team and outsourcing projects. It now focuses on Immutable Audience, offering AI tools for player acquisition, retention, and monetization.

Gods Unchained[ will continue, but Guild of Guardians moves to maintenance. Web3 gaming still struggles with scaling, retention, and monetization. Immutable prioritizes selling AI solutions over building games.

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$1.48 billion was liquidated from the crypto market in the last 24 hours as the sell-off continues.

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⚡️ JUST IN: apxUSD, a primarily $STRC-backed synthetic stablecoin, has depegged by as much as 36% and is now trading just below $0.8.

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