Bitcoin ETFs bleed $4B in June; CLARITY Act odds cut to 50%

US spot Bitcoin ETFs see record $4.06 billion in June outflows Investors pulled $4.06 billion from US-listed spot Bitcoin ETFs in June, the largest monthly redemption since the products launched in January 2024, surpassing the previous record of $3.56 billion set in February 2025. The outflows follow a 13-day consecutive withdrawal streak and have contributed to Bitcoin's price decline to around $60,000. 12

Galaxy cuts CLARITY Act 2026 odds to 50% as Senate floor time shrinks Galaxy Research lowered its odds of the CLARITY Act becoming law in 2026 to roughly 50-50, down from 60% earlier this month, citing a shrinking Senate calendar. Senate Majority Leader John Thune has signaled he may bring the bill to a full vote, but competing legislative priorities and a lack of scheduling announcements are creating uncertainty. 34

BitMEX removes CEO, CFO, and head of growth in leadership shakeup The crypto derivatives exchange has parted ways with three senior executives, continuing a pattern of turbulent leadership changes that stretches back to 2020. The move comes as BitMEX faces ongoing challenges in the competitive derivatives market. 5

India stablecoin premium surges above 8.5% after ED crackdown A supply crunch in India has pushed the premium on stablecoins like USDT to over 8.5%, up from the usual 3-4%, following Enforcement Directorate actions against entities facilitating crypto-based money transfers. The crackdown has disrupted a popular remittance channel for NRIs, tightening domestic supply. 6

Michael Saylor teases more Bitcoin buying as Strategy stock falls Michael Saylor shared data showing Strategy now holds 847,363 Bitcoin worth about $50.9 billion, signaling further purchases despite the company's stock falling 8% to $86 amid concerns over its funding model and dividend obligations. Ripple CEO Brad Garlinghouse criticized Saylor's approach, saying it has damaged the wider crypto market. 7

Arbitrum lands Mastercard and LG in record enterprise L2 month Arbitrum closed June with major enterprise deals: Mastercard selected it for global stablecoin settlement infrastructure, and LG Electronics is piloting a dedicated ad network on Arbitrum's Orbit stack. The L2 also ranked #1 among all blockchains in tokenized real-world assets, marking a shift from scaling solution to enterprise platform. 8

Pioneering zk-rollup Loopring shuts down DEX citing lack of adoption Ethereum's first zero-knowledge rollup, Loopring, announced the closure of its decentralized exchange and automated market maker, ending all trading services. The team cited failure to gain meaningful adoption, lack of business development skills, and being technologically surpassed by modern zkEVM solutions like zkSync and Scroll. 9

XRP DeFi platform Strobe Finance shuts down amid falling TVL Strobe Finance, one of the first decentralized lending protocols on the XRP Ledger EVM Sidechain, is winding down after failing to secure additional funding and suffering declining protocol revenue. Users have until July 13 to withdraw funds before forced liquidations begin. 10

Morpho raises $175M to bring $200 trillion global credit onchain Morpho, the open blockchain-based credit network, announced a $175 million funding round co-led by Paradigm, a16z crypto, and Ribbit, with strategic participation from Apollo Funds and Circle Ventures. The protocol aims to unify banks, asset managers, and fintechs on a single shared network for credit products. 11

Ethereum whales dump $880M as TVL and active addresses decline Ethereum whales have dumped $880 million in ETH, while the network's TVL declined from $38.28 billion to $37.43 billion and active addresses fell nearly 33% during the week. ETH's market capitalization dropped from $205.72 billion to $189.70 billion as the price hovers near the critical $1,580 support level. 1213

50,000 BTC deposited to exchanges at loss signals capitulation Nearly 50,000 Bitcoin were moved to exchange addresses at a loss by short-term holders, pointing to capitulation-style behavior under price pressure. The signal does not guarantee a market bottom but highlights the stress among newer holders as Bitcoin trades near support levels. 14