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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In April, ZachXBT flagged $7.9 million withdrawn to 18 new wallets, insiders pumping price to $6 billion valuation, the team wallet getting 200 million M at launch, and hype from paid posts and launchpad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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🔝 Trump’s Digital Asset Promises Midterm Review

During the 2024 campaign, Donald Trump promised to turn the U.S. into the world's crypto capital.

Two years later, it's possible to see what actually happened and what remained campaign rhetoric.

➡️ The Strategic Bitcoin Reserve was created using confiscated BTC, with the U.S. now holding over 328,000 BTC.

➡️ The SEC dramatically softened its stance toward crypto and dropped several high-profile cases against industry companies.

➡️ Congress passed the GENIUS Act, creating the first federal framework for stablecoin regulation.

➡️ The administration blocked plans for a U.S. CBDC and positioned itself as pro-crypto.

➡️ Prediction markets such as Polymarket and Kalshi received a friendlier regulatory environment.

At the same time, controversy followed Trump's own crypto activities.

❌ The TRUMP and MELANIA memecoins generated billions in value and sparked conflict-of-interest accusations.

❌ World Liberty Financial and other Trump-linked crypto ventures faced scrutiny from critics and lawmakers.

The bigger takeaway is that politics can change regulation, but it can't eliminate market cycles.

Despite a crypto-friendly White House, the market still experienced major volatility, proving that even presidential support doesn't guarantee higher prices.

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😅 Kraken Negotiates 15% Stake in Aave

Kraken is negotiating to acquire a 15% stake in Aave at a $385 million valuation. The deal involves 35,000 ETH for 250,000 AAVE tokens and 15% of Aave Group shares, about $71 million. Part will be syndicated.

Earlier this year, Aave suffered a hack where attackers minted $292 million in unsecured rsETH, withdrew real assets, leaving a $190–230 million debt. After the deal news, AAVE price rose 9%.

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⚡️ JUST IN: OpenAI will stagger the release of GPT 5.6 at the request of the U.S. government, which will review who can access the preview.

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Bitcoin is pumping hard in Australia

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