Bitget Daily Digest (6.26)｜Trump Hints at US-Iran Talks Next Week, SEC Commissioner: Physical Redemption for Crypto ETFs Coming Soon; $VELO and $BLAST Set for Token Unlocks

Today’s Preview

1. The number of initial jobless claims in the US for the week ending June 21 will be released today (previous: 245,000).
2. The final annualized Q1 US Core PCE Price Index will be released today (previous: 3.40%).
3. The proposal to dissolve ApeCoin DAO (AIP-596) has completed voting. If passed, assets and obligations will be orderly transferred to ApeCo, a new entity established by Yuga Labs.
4. Velo (VELO) will unlock approximately 182 million tokens, accounting for 2.47% of current circulating supply.
5. Blast (BLAST) will unlock about 10.5 billion tokens, accounting for 34.98% of circulating supply, valued at around $22.5 million.
6. Kroma L2 network will be shut down; $KRO tokens must be migrated to Ethereum.

Macro & Hot Topics

1. WLFI Co-Founder: Several Public Companies Considering Adding WLFI Tokens to Corporate Reserves. Zak Folkman, co-founder of Trump family-linked DeFi platform World Liberty Financial, said at the "Permissionless" crypto event in New York that the platform has drawn strong interest from public companies seeking to use WLFI tokens as reserve assets. Folkman also announced a new World Liberty Financial app. He stated, "We're very close to Michael Saylor—we admire all that he's done strategically and his advocacy for holding corporate reserves in crypto. Several public companies have shown strong interest in holding WLFI as reserves."
2. US SEC Commissioner Hester Peirce: Physical Redemptions for Crypto ETFs May Soon Be a Reality. Hester Peirce said in a panel at the Bitcoin Policy Institute that in-kind creation and redemption of crypto ETFs “may soon be coming.” She noted, "Applications are moving through the process... so I do think it's definitely in the cards at some point. I can't predict precisely, but we've heard much interest."
3. Tether Co-founder and Others Plan $1 Billion Crypto Reserve Fund for SPAC MBAV.U, Including BTC, ETH, and SOL. Former Blackstone dealmaker and Tether co-founder are jointly planning a $1B listed crypto fund with a diversified asset allocation. According to sources, the fund will raise through their SPAC (Special Purpose Acquisition Company) M3-Brigade Acquisition V Corp., investing in Bitcoin, Ethereum, Solana, etc. As negotiations are private, details may change.
4. CIA Says Several Key Iranian Nuclear Facilities Have Been Destroyed. On June 25, the CIA confirmed via a statement that reliable intelligence shows Iran’s nuclear program was severely damaged in recent US strikes, with several key facilities destroyed and likely to take years to rebuild. The CIA is collecting further information to keep decision-makers fully informed and pledges transparency with the US public where possible.

Market Overview

Institutional Views

News Updates

1. Trump denies discussing a ceasefire with Zelensky.
2. CIA says several key Iranian nuclear facilities have been destroyed.
3. US SEC Commissioner Hester Peirce: Physical mechanisms for crypto ETF redemption may be imminent.
4. Trump: Considering three to four candidates for the next Fed chair.
5. US Federal Housing Finance Agency orders crypto to be included in mortgage assets.

Project Developments

1. WLFI co-founder: Several public companies considering adding WLFI tokens to corporate reserves.
2. Solana restaking protocol Fragmetric launches FRAG token, with the first airdrop at 10% of total supply.
3. Cboe has submitted 19b-4 for Canary PENGU ETF to the SEC.
4. GameStop raises another $450M in a follow-on note sale, possibly for BTC purchases.
5. Ethena reaches USDe redemption agreement with German regulator; exits EU market.
6. zkLend announces project closure; remaining funds to compensate users.
7. HashKey Chain announces first round of points rewards for early supporters.
8. Deribit: Over $17B in crypto options will expire on its platform this Friday, the largest quarterly event in H1 2025.
9. Immutable co-founder: Special rewards will be issued to IMX stakers.
10. Enso launches cross-chain DeFi deposit feature, supporting multi-protocol, multi-chain asset integration.

X Highlights

1. Phyrex: BTC rise is just a technical rebound, not driven by new bullish factors The latest $BTC rally was not due to any fresh catalysts, but rather a correction of last week's overselling from Middle East conflicts, while the Nasdaq hit new highs during the US market holiday. The logic is that if the Nasdaq holds a new high, BTC could challenge $110,700. $CRCL has dropped 30% from its peak—any further decline may affect $COIN valuation. $MSTR continues to track BTC purely. On-chain shows strong low-price support; turnover is focused on short-term traders during the rise. Structure remains solid overall, and short-term volatility is still tied more to macro risk sentiment. Original: https://x.com/Phyrex_Ni/status/1937955386738495978
2. Crypto_Painter: SLR reform sends clear bullish signals, tapering in sight? For a true reversal, Fed easing is key—specifically, eliminating SLR and halting QT. SLR reforms have entered board review for public comment, aiming to lower capital requirements on Treasuries to boost liquidity. It’s a clear market signal for gradual easing. With inflation under control and growth steady, the Fed’s softer tone is generating "slow bull" expectations. Historically, every bull market has end-of-cycle euphoria, but the exponential run-up of BTC’s four up–one down annual structure is clear for 2025 bullishness and maybe a bearish 2026. At heart, even bear moves are just corrections in a long-cycle bull. There’s a bubble—but until it bursts, there’s a window for gains. Whether it’s BTC or alts, only real easing marks a true reversal. Original: https://x.com/CryptoPainter_X/status/1937966193748689282
3. MaraCake.hl: Circle’s IPO rewrites new SEI narrative: institutions entering, ETF filing only the start Since Circle went public, Sei’s fundamentals have changed. Back in 2022, Coinbase and Circle, along with A16Z, planned for Sui, Sei, Aptos, Optimism—now all named in Circle’s IPO and Wyoming’s first regulated on-chain candidates. Not a coincidence, but capital’s design: Circle still held SEI under water in late 2023 with much lower market value than Sui, suggesting current undervaluation. Just as important, Canary just filed the SEI ETF with Coinbase-backed partners: this web of “chain + stablecoin + US-compliant ETF” narrative is a new American playbook linking trading, state government, and ETFs. SEI is still undiscovered and undervalued in the short term, but institutional adoption and ETF narratives are just beginning. This US public chain strategy is crystal clear—anyone interested should study the entire trend. Original: https://x.com/MaraCakeHotSale/status/1937721616596877590
4. Crypto_Painter: BSC memecoin leaderboard: 18 top tokens + Foundation buys tracked Here’s a fresh ranking of the 18 hottest BSC dog coins, based on both on-chain and Twitter popularity, plus a separate list of the BSC Foundation's latest buys for tracking "official support." For example, yesterday the BSC Foundation purchased $JAGER, $GORILLA, $U—but real market impact is limited. Earlier, $VIXBT dropped from $5M back to $1M after a foundation buy. Foundation purchases make headlines, but don’t dictate secondaries—liquidity and community activity matter most. All investors should do their own due diligence. Original: https://x.com/DRbitcoin36/status/1937852876514353584