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forklog.media Did Elon Musk Drain Funds from the Crypto Market? The Truth Behind SpaceX’s Record IPO

This week, "Deconstruction" focuses on SpaceX's historic IPO, new EU sanctions, a tax bill in Russia, strict checks in the prediction market, Anthropic's closed AI model, a critical Zcash wallet update, and Strategy's Bitcoin sale. EU Sanctions and Russia's Crypto Tax Bill The European Commission introduced its 21st sanctions package, which for the first time includes direct restrictions on cryptocurrency platforms and a mechanism to block services from third countries. Transferring funds abroad will become as difficult as through a bank: users will have to prove the legality of transactions or switch to non-custodial wallets. Meanwhile, Russia has passed the first reading of a bill on the taxation of crypto transactions. The document makes it feasible for businesses to use stablecoins, allowing companies to legally write off the costs of purchasing them as expenses. The main change is the mandatory collection of documents when paying taxes. If an asset is purchased from a private individual without receipts or statements, the tax authorities will consider the entire sale amount as income and levy tax on the entire withdrawn volume. Users will need to carefully keep all transaction histories and receipts. Two New AI Models from Anthropic Anthropic released its flagship Fable 5 for long and complex tasks. During testing, the model was able to transfer a codebase of 50 million lines in one day, a task that would take a development team two months. The second model, the closed flagship Mythos 5, is available only to trusted partners. Both models are priced the same. The main difference lies in their protective filters. Fable redirects sensitive requests, while Mythos bypasses these filters. This is why the closed model excels at detecting cybersecurity vulnerabilities and accelerates certain stages of drug development by about ten times. SpaceX IPO and Crypto Market Sell-Off Investor demand for SpaceX's initial public offering exceeded $250 billion. Elon Musk's wealth reached $982 billion, bringing him closer to becoming a trillionaire. Investors are selling digital assets to buy Musk's shares. The liquidity outflow has caused a money shortage in the crypto market and is one of the main reasons for Bitcoin's 37% drop from its January highs. An indirect risk comes from SpaceX's own reserves. The company holds over 18,000 BTC on its balance sheet. After the IPO, decisions about their fate will be made by the board of directors. If they decide to lock in profits and sell these assets to improve quarterly reports, it will create additional pressure on Bitcoin's price. Insiders in Prediction Markets Prediction markets have grown into a serious financial tool and are beginning to face criminal charges. A U.S. Army serviceman earned $410,000 by betting on the outcome of a secret operation he was involved in planning. In response, platforms are transferring classic stock market rules to the new environment. The Kalshi platform has significantly tightened its rules. Each new market is assigned a risk rating. If the score is high, the user must undergo employer verification. The platform checks access to confidential information and, if necessary, simply does not allow trading. Zcash Vulnerability and Ironwood Update An independent auditor in the Zcash network's shielded pool discovered a critical vulnerability that allowed the creation of an unlimited number of new coins. Hackers did not manage to exploit the bug, but the cryptocurrency lost more than 50% of its value following the news. Developers temporarily disabled the vulnerable part of the blockchain and fixed the error, after which the rate recovered by 41.5%. To address the security issue, developers have scheduled the July Ironwood update. The old vulnerable pool will be completely isolated. Users need to update their software during this period, or any new transfers to old wallets will be automatically rejected by the network. Bitcoin Decline and Strategy's Debt Risks Bitcoin has lost 28% over the month. Analysts cite different bottom levels—ranging from $60,000 to $35,000. Pressure on the market comes from capital flow into tech IPOs, U.S. Treasury crypto seizures, and actions by Strategy, which holds 845,000 BTC and has sold part of its reserves for the first time. The real issue for Strategy lies in its obligations to retail investors. The company has preferred shares with dividends of 11.5% per annum. About six months of payments are pledged on the balance sheet. In a declining market, the company faces a choice: either reduce dividends or sell Bitcoin. The structure relies solely on the constant growth of the asset's price. This is a shortened version of the podcast. Watch the full episode: Subscribe to the podcast: Apple Podcasts Spotify YouTube Deezer Yandex Music YouTube Music

blockonomi.com Paramount Skydance (PSKY) Stock Surges Following DOJ Approval of Massive Warner Bros. Discovery Merger

Paramount (PSKY) stock jumps 2.77% after DOJ approves $110B Warner Bros. Discovery merger. California and European regulators still reviewing the deal. The post Paramount Skydance (PSKY) Stock Surges Following DOJ Approval of Massive Warner Bros. Discovery Merger appeared first on Blockonomi.

cryptobriefing.com Heat advisories hit US coasts as FIFA World Cup kicks off, but crypto’s real game is on the blockchain

The convergence of extreme weather and blockchain innovations at the World Cup highlights the growing need for adaptive strategies in global events. The post Heat advisories hit US coasts as FIFA World Cup kicks off, but crypto’s real game is on the blockchain appeared first on Crypto Briefing.

forklog.media Standard Chartered Declares End of Crypto Winter

Bitcoin has already hit the bottom of the current cycle at $59,000, according to Standard Chartered analyst Geoffrey Kendrick, reports CoinDesk. Kendrick attributes the recent correction to a mix of macroeconomic uncertainty, reduced risk appetite, and capital outflows from cryptocurrency investment products. However, he believes most negative factors have already been priced in by the market. Crypto Winter May Be Over Kendrick noted that the drop to $59,000 was accompanied by investor capitulation and a sharp deterioration in market sentiment—signs historically observed near local lows. "Winter is over. Welcome back to crypto spring," he stated. He believes the market is laying the groundwork for a new growth phase, with current levels appearing attractive for long-term investors. Institutional Demand Remains Standard Chartered continues to view institutional capital inflows through spot ETFs and corporate treasury strategies as key drivers for Bitcoin. The analyst also pointed to ongoing Bitcoin purchases by public companies, including Strategy, which continue to build reserves despite high market volatility. Optimistic Outlook Maintained Despite the recent correction, the bank maintains a long-term positive outlook on Bitcoin. Previous forecasts by Standard Chartered suggested Bitcoin's price could reach $200,000 by 2026, driven by further institutional investment and the expansion of digital assets in the traditional financial system. Kendrick emphasized that while short-term volatility remains high, fundamental factors continue to support a long-term upward trend. BIT Analysts Predict Bitcoin Could Fall to $50,000 Analysts at the crypto platform BIT believe the market has not yet reached its final bottom and will remain under pressure in the coming weeks. https://t.co/4KKkLIgXCd— BIT Official (@BITofficial_EN) June 12, 2026 They assess that Bitcoin has entered the final phase of a bear cycle and continues to move within a classic Elliott corrective wave model A-B-C. The first wave of decline in February brought the price to the $60,000–69,000 range, followed by a rebound to $83,000. The market is now in the process of forming wave C, which could end around $50,000–55,000. Analysts note that sentiment indicators remain at levels typical for the final stages of bear markets. The Fear and Greed Index has approached values seen near the 2022 bottom, and several technical metrics indicate the asset is deeply oversold. An important benchmark highlighted by experts is Bitcoin's Realized Price, currently around $54,600. Historically, prices have rarely stayed below this level for extended periods. Next Cycle Could Be Triggered by Inflation Slowdown Analysts cite the macroeconomic situation as a key factor for market recovery. They believe, as in 2022, the start of a new bull cycle will depend on a reversal of the inflation trend and easing financial conditions. BIT suggests that the final bottom formation could take another one to three months. Confirmation of the end of the crypto winter would be Bitcoin's price returning above the 21-week moving average and an improvement in long-term cyclical indicators. Previously, Galaxy Research suggested the current market cycle's minimum could be in the $40,000-46,000 range.

cryptobriefing.com Iran’s ambassador to Mexico backs national team’s US World Cup participation as a gesture of peace

Iran's participation in the US-hosted World Cup could foster diplomatic dialogue, highlighting sports as a bridge for peace amid tensions. The post Iran’s ambassador to Mexico backs national team’s US World Cup participation as a gesture of peace appeared first on Crypto Briefing.

blockonomi.com Standard Chartered’s Kendrick Calls $59K the Bitcoin Cycle Bottom; Holds $100K BTC and $4K ETH Year-End Targets

TLDR: Standard Chartered’s Kendrick confirms Bitcoin’s $59K level as the definitive cycle low for 2025. Spot Bitcoin ETF redemptions exceeded $5.72B since May, driven partly by SpaceX IPO liquidity needs. Kendrick maintains $100K Bitcoin and $4K Ethereum price targets through year-end despite the selloff. A potential U.S.-Iran peace deal and falling oil prices could ease [...] The post Standard Chartered’s Kendrick Calls $59K the Bitcoin Cycle Bottom; Holds $100K BTC and $4K ETH Year-End Targets appeared first on Blockonomi.

cryptobriefing.com Jordi Visser: SpaceX’s valuation hinges on Musk’s unmatched data center construction, the complexities of terrestrial versus space facilities, and the critical role of energy storage innovation | The Pomp Podcast

SpaceX's innovative data center strategies could redefine digital asset infrastructure and boost its market valuation. The post Jordi Visser: SpaceX’s valuation hinges on Musk’s unmatched data center construction, the complexities of terrestrial versus space facilities, and the critical role of energy storage innovation | The Pomp Podcast appeared first on Crypto Briefing.

news.bitcoin.com Anthropic Disables Fable 5 and Mythos 5 Worldwide After US National Security Order

Anthropic said it abruptly disabled its two most capable artificial intelligence (AI) models, Fable 5 and Mythos 5, for all customers worldwide after the U.S. government ordered it to cut off access for any foreign national, citing national security. An Order Of Potential Major Repercussions The directive arrived on June 12 at 5:21 p.m. Eastern […]

blockonomi.com LG Electronics Launches Onchain Advertising Pilot on Arbitrum to Fix Digital Ad Fraud

TLDR: LG Electronics is piloting an onchain ad network on Arbitrum to record verifiable delivery data. The pilot ran in Japan with Hakuhodo, testing real-user engagement and operational performance live. WARC projects global ad spend at $1.3 trillion in 2026, raising pressure for provable performance. LG targets fraud, tightening privacy rules, and falling engagement as [...] The post LG Electronics Launches Onchain Advertising Pilot on Arbitrum to Fix Digital Ad Fraud appeared first on Blockonomi.

cryptobriefing.com Investors lose over $200M on American Bitcoin shares while Eric Trump’s stake holds at $70M

The disparity in losses highlights the risks retail investors face in celebrity-backed ventures, emphasizing the need for cautious investment strategies. The post Investors lose over $200M on American Bitcoin shares while Eric Trump’s stake holds at $70M appeared first on Crypto Briefing.

cryptobriefing.com Olivier Giroud backs Christian Pulisic as USA’s World Cup key, while crypto deepens its grip on the tournament

The intertwining of crypto and football at the World Cup could redefine sports sponsorships, influencing fan engagement and investment landscapes. The post Olivier Giroud backs Christian Pulisic as USA’s World Cup key, while crypto deepens its grip on the tournament appeared first on Crypto Briefing.

cryptobriefing.com Ukrainian military strikes Russia’s oil infrastructure in Volgograd, halting production at major refinery

Ukraine's strike on Russia's oil infrastructure disrupts energy supply, potentially weakening Russia's economic stability and war funding. The post Ukrainian military strikes Russia’s oil infrastructure in Volgograd, halting production at major refinery appeared first on Crypto Briefing.

news.bitcoin.com Defillama: Q2 2026 Has Been Crypto’s Most-Hacked Quarter on Record With Nearly 70 Exploits

The last three months of 2026 have become the most-hacked quarter in crypto history, with roughly 70 separate exploits draining about $746 million. A Record Built on Many Small Hits The second quarter of 2026 is already the most-hacked quarter on record, tallying about 70 hacks, which is roughly twice the previous record for the […]

news.bitcoin.com South Korea Police Detain Bithumb CEO Lee Jae-won as Bribery Probe Widens After Raid

South Korean police have named Bithumb CEO Lee Jae-won as a suspect in an ongoing bribery probe, upgrading his status from a witness. Allegations of Job Solicitation South Korean police have detained the CEO of cryptocurrency exchange Bithumb as a suspect in an ongoing bribery investigation involving allegations of preferential hiring for the son and […]

blockonomi.com SeerDEX Review: One App for Crypto Binary Options, Prediction Markets and Perpetuals

You know the trade: pick an asset, pick a price level, pick a deadline. If BTC closes above $70,000 by Friday at noon, you take a fixed payout. If not, you lose your stake. Crypto binary options are familiar to anyone who has traded options on a CEX or TradFi derivatives desk. The problem is [...] The post SeerDEX Review: One App for Crypto Binary Options, Prediction Markets and Perpetuals appeared first on Blockonomi.

blockonomi.com Bitcoin LTH-STH Gap Signals Bear Market Far from Over, Analysts Warn

TLDR: LTH realized price sits near $49,500, STH realized price near $72,500 currently STH cost basis falling below LTH cost basis historically signals extended bear phases Crypto Lens views recent $66,000 rally as a bull trap within bearish cycle Scenarios point toward $48,000, $43,000, or $32,000 over coming months Bitcoin remains trapped near $63,780, as [...] The post Bitcoin LTH-STH Gap Signals Bear Market Far from Over, Analysts Warn appeared first on Blockonomi.

blockonomi.com SpaceX Stock vs. SPCX Perpetual Contract: What Every Trader Must Know Before Buying

TLDR: SpaceX opened its IPO on June 12 targeting a valuation above $1.7 trillion at the New York opening bell. The SPCX perpetual on Hyperliquid implied a $2.3T valuation, sitting well above the actual IPO target price. Real SpaceX equity grants ownership, voting rights, and dividends, while SPCX perps offer only price exposure. SpaceX holds [...] The post SpaceX Stock vs. SPCX Perpetual Contract: What Every Trader Must Know Before Buying appeared first on Blockonomi.

cryptobriefing.com Anjney Midha: AI development is consuming unprecedented resources, big companies dominate the landscape, and compute infrastructure is crucial for new labs | Odd Lots

Access to compute infrastructure is key for new AI labs to challenge industry giants in AGI development. The post Anjney Midha: AI development is consuming unprecedented resources, big companies dominate the landscape, and compute infrastructure is crucial for new labs | Odd Lots appeared first on Crypto Briefing.

blockonomi.com Bitcoin Heads for Worst June Since 2022 as Analysts Eye October Turning Point

TLDR: Bitcoin trades near $63.8K as June performance trends toward weakest since 2022 bear market phase Summer liquidity conditions from July to September continue limiting strong directional breakouts in BTC Traders are actively monitoring $61K–$66.8K range as short liquidations and rejections persist Macro cycle models still point toward potential reversal zones forming closer to the [...] The post Bitcoin Heads for Worst June Since 2022 as Analysts Eye October Turning Point appeared first on Blockonomi.

blockonomi.com How Stellar Is Quietly Becoming a Hub for Real-World Asset Tokenization

TLDR: Stellar now holds over $2B in tokenized RWAs as payment volume climbs 72% year-over-year to $5.5B.  Circle’s CCTP brings native USDC to Stellar, enabling transfers across 23+ chains without bridge risk.  Figure’s SEC-registered YLDS offers compliant yield on Stellar, targeting fintechs and LATAM markets. Bermuda is migrating wages, government fees, and payments onto Stellar [...] The post How Stellar Is Quietly Becoming a Hub for Real-World Asset Tokenization appeared first on Blockonomi.