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6/25

18:56

The Base network resumed operations after a two-hour outage

Svmuu News: The Base Layer 2 network on the Ethereum mainnet experienced a “major outage,” preventing the stable production of new blocks. According to the Base status page, the issue occurred around 16:03 UTC.
Base resumed operations after approximately two hours of downtime; the outage had caused block production and transaction processing to pause.
The Base team stated that an invalid block triggered the issue; they are currently investigating the root cause and have advised node operators to restart their nodes. This incident marks another network outage for Base following the one in August 2025.

18:45

Aave Founder Responds to Payward Acquisition Rumors: Will Not Sell AAVE at a 70% Discount

Svmuu News: Aave founder Stani Kulechov responded to reports that Payward, the parent company of Kraken, intends to acquire a 15% stake in the Aave protocol, stating that AAVE “cannot be sold at a 70% discount.”
CoinDesk previously reported that Payward was in talks to acquire a 15% stake in Aave at a valuation of $385 million. Based on that valuation, the deal would represent only about 30% of AAVE’s fully diluted valuation, significantly below market valuation.
Kulechov stated on X that the reports were inaccurate. While he did not entirely rule out the possibility that Aave Labs might sell a portion of its AAVE token holdings, he noted that Aave Labs does indeed hold a certain allocation of AAVE, and that multiple market participants have discussed purchasing them directly or indirectly, or exploring deeper collaboration regarding long-term partnerships.
Aave is the largest decentralized lending protocol in the Ethereum ecosystem.Kulechov said that Aave currently generates approximately $134 million in annualized revenue, which flows to the Aave DAO. He had previously proposed a governance plan to redirect revenue from Aave Labs, the protocol, and products to the Aave DAO and token holders.
These rumors come as Aave is facing some pressure. Following the Kelp DAO incident in April, Aave’s TVL dropped significantly. Although Aave itself was not directly attacked, the attackers behind the Kelp DAO cross-chain bridge exploit used Aave to convert the stolen rsETH into other assets.

18:43

The U.S. Senate is aiming to move forward with a crypto bill in July, but the housing bill and other items on the agenda may narrow the window of opportunity

Svmuu News: The U.S. Senate is attempting to advance the “Clarity Act”—a bill aimed at restructuring the cryptocurrency market—in July, but the window for passage is narrowing due to a backlog of priority items, including the National Defense Authorization Act, the reauthorization of the Farm Bill, and the Housing Bill.
The Senate’s agenda for the coming weeks is packed. In addition to the annual defense and agriculture bills, Donald Trumpid on Wednesday that he would not support a major housing bill unless Congress first passes legislation requiring federal voters to provide proof of citizenship. That housing bill also includes provisions banning central bank digital currencies.
Since members of Congress will leave Washington before the August recess, if the relevant bills fail to move forward before then, the political focus upon their return will shift to the November elections, and the floor time available for crypto legislation will be further reduced.
Republican Senator Cynthia Lummis said a revised version of the bill is expected to be released around July 4 to allow lawmakers to conduct a final review and push for a vote in July. A Senate aide also stated that the Clarity Act will be one of the bipartisan priorities after the Senate reconvenes in July.
However, the bill still faces multiple uncertainties, including the level of Democratic support, the controversy over Donald Trump’s crypto-related conflicts of interest, the priority of other major bills, and the Senate’s limited schedule.

18:42

Asset management giant Invesco plans to launch a tokenized stablecoin reserve fund

Svmuu News: Asset management giant Invesco is planning to launch a new money market fund focused on stablecoin reserves. According to an amended filing submitted to the U.S. SEC, Invesco intends to add the “Invesco Stablecoin Reserves Onchain Fund” to its Short-Term Investments Trust portfolio.
The fund, for which a ticker symbol has not yet been announced, will primarily invest in high-quality short-term assets, including U.S. Treasury securities, repurchase agreements, and cash equivalents. Its objective is to maintain a stable net asset value of $1 per share and provide daily liquidity.
The product is designed for stablecoin issuers, enabling them to hold compliant reserves in accordance with the GENIUS Act’s reserve framework while earning returns. As of May 31, Invesco had approximately $2.45 trillion in assets under management.
The fund will also partner with blockchain infrastructure company Superstate as the secondary transfer agent for tokenized shares, recording fund shares on a designated public blockchain that has not yet been disclosed. Recently, several Wall Street institutions, including State Street, have launched similar products, indicating that traditional asset management giants are accelerating their push to capture the stablecoin reserve and tokenized money market fund markets.

18:38

Multicoin: HYPE Could Reach $319 by 2028

Svmuu News: Multicoin released a report stating that the market has severely undervalued Hyperliquid’s native token, HYPE, and believes it still has more than 400% upside potential in the coming years. The firm projects that, under a base-case scenario, the price of HYPE could reach approximately $319 by 2028.
Multicoin believes that the market currently views Hyperliquid too narrowly as a rapidly growing decentralized perpetual futures exchange, but in reality, it is evolving into an “Everything Exchange” covering multiple assets and trading scenarios.
The report states that, based on the current price of approximately $63, HYPE is significantly undervalued. Multicoin projects that by 2028, Hyperliquid’s annualized earnings could reach approximately $8 billion; valuing the company at a 20x earnings multiple would correspond to a HYPE price of about $319.
Multicoin also disclosed that it has been actively buying HYPE since February of this year, and HYPE has now become one of the largest holdings in its liquidity hedge fund. Recently, driven by positive factors such as ETF inflows, strong protocol revenue, and an aggressive buyback program, HYPE broke through $76 to hit an all-time high. It subsequently retreated along with the broader market and was trading at approximately $62.47 as of Thursday afternoon.

18:32

Sophon Shuts Down Its Own Layer 2 and Migrates to Base, Shifting Focus to Consumer App Development

Svmuu News: Sophon, which has raised a total of $70 million in funding, announced that it will shut down its proprietary Layer 2 blockchain and migrate to Base, shifting its future focus to the development of consumer-grade applications. Sophon stated that continuing to invest millions of dollars annually to maintain its own blockchain is no longer justifiable.
Sophon co-founder Sebastien said the project’s assessment is that true value lies not in “who operates the underlying infrastructure,” but in the products built on top of it. Therefore, Sophon will no longer maintain the infrastructure and will instead concentrate its resources on the application layer.
Reportedly, Sophon previously spent approximately $3.4 million annually on blockchain maintenance, covering expenses such as chain infrastructure, RaaS, data, analytics, and development tools. After shutting down its proprietary chain, the company expects to reduce annual expenses by about $3 million, thereby extending its funding runway and allocating more capital to application development.

17:52

BTC rebounded to break through 60,000 USDT, with a 24-hour decline of 1.7%

Svmuu News: According to OKX data, BTC has rebounded and broken through the 60,000 USDT mark, currently trading at 60,011.7 USDT, with the 24-hour decline narrowing to 1.7%.

13:01

Binance IPUSDT and IPUSDC perpetual contracts will be delisted on June 28, 2026

Svmuu News: According to an official announcement, Binance will automatically settle and delist the USDⓈ-MIPUSDT and IPUSDC perpetual contracts on June 28, 2026, at 09:00 (UTC) to support the Story (IP) rebranding initiative.Users must close their positions before this time to avoid automatic liquidation. Starting at 08:30 (UTC) on June 28, 2026, users will no longer be able to place new non-position-reduction orders. A separate announcement will be made regarding the launch of new contracts.

12:47

Apple Will Skip the High-End M6 Mac Chip and Focus on Developing the AI-Centric M7 Series

Svmuu News: Apple is undertaking one of the largest overhauls in its history to its Mac chip strategy, preparing to skip directly to a new generation of chips focused on AI capabilities for its next-generation flagship processors. According to sources familiar with the matter, the company is currently in the M5 series phase and plans to launch a base-model M6 processor for entry-level Macs as early as this year.
However, sources indicate that Apple will, in an unprecedented move, skip the high-end versions of this chip. The company plans to launch Pro and Max versions as part of the next-generation M7 chip series in 2027, which will feature more powerful computing and graphics processing capabilities. Apple is taking this unusual step to accelerate the rollout of technology originally scheduled for a later release. The move is expected to meet the market’s growing demand for on-device AI capabilities and graphics-intensive software. (Jin Shi)

12:27

Apple's stock price posted its biggest drop since April 2025

Svmuu News: Apple (AAPL.O) shares fell 6%, marking their biggest drop since April 2025. (Jin Shi)

12:21

SpaceX credit derivatives have begun trading following the company's first bond issuance

Svmuu News: SpaceX (SPCX.O) credit derivatives began trading following the company’s first bond issuance. (Bloomberg)

12:02

Analyst: Bitcoins have fallen below $60,000, but institutions and high-net-worth investors are not continuing to bet on a decline

Svmuu News: Adam, a macro researcher at Greeks.live, posted on X: “Tomorrow is the quarterly settlement. Bitcoin has fallen below $60,000. As seen on the Gex chart, $60,000 is clearly the price level with the largest open interest, but at the same time, significant accumulation is beginning at $58,000 and $59,000 as well.Risk is building in the market, but institutions and large traders have not yet continued to bet on a decline; they are simply waiting for the settlement.”

11:54

Coinbase Cap (CAP) will be listed

Svmuu News: According to an official announcement, Coinbase will list Cap (CAP).

11:46

SpaceX May Acquire T-Mobile to Accelerate Its Expansion into the Wireless Business

Svmuu News: TD Cowen analysts say that if SpaceX is unable to reach a network-sharing agreement, it may accelerate the expansion of its wireless business by acquiring T-Mobile. The existing partnership between T-Mobile and Starlink aligns strategically. While this scenario is purely speculative, it highlights the growing competitive pressure SpaceX is facing in the telecommunications industry. (Jin Shi)

11:30

UBS: Micron Long-term contracts are stable enough to weather potential market downturns in the coming years

Svmuu News UBS Analysts stated in a research report that Micron’s long-term contracts with customers are robust enough to weather any market downturns for at least the next few years.Investors may worry that these contracts could be undermined if the market slows, but the minimum prices are set low enough that it won’t be until 2029 at the earliest—and more likely 2030—before sufficient supply comes online to break the price floor and prompt customers to consider defaulting.
UBSAnalysts note that Micron has also received cash prepayments from customers, which could ultimately total close to $40 billion to $50 billion—a solid buffer against potential contract breaches should conditions deteriorate. (Jin Shi)

11:24

New York gold futures rose above $4,050 per ounce, and spot gold rose by about $30 in the short term

Svmuu News: According to Gate data, New York gold futures rose above $4,050 per ounce, up 1.03% on the day. Spot gold rose by about $30 in the short term, briefly breaking through $4,040 per ounce, up 0.98% on the day.

11:18

Two newly created wallets deposited $8 million into Hyperliquid to open a 20x leveraged long position on Bitcoin

Svmuu News: According to Onchain Lens, two newly created wallets—possibly belonging to the same whale—deposited $8 million into Hyperliquid to open a 20x leveraged long position on Bitcoin. The position currently holds 400 BTC, with a value of $23.5 million.

11:08

Unpegged, it fell 20%; the stablecoin APXUSD dropped below $0.80

Svmuu News: The stablecoin apxUSD, backed by STRC and other preferred shares, has fallen to approximately $0.78, a 22% decline. As Bitcoin briefly dipped below $60,000, the decline in collateral value caused the stablecoin to lose its peg.

11:05

Story Upgrades to DATA Foundation, Shifting Focus to AI Training Data Infrastructure

Svmuu News: The blockchain IP project Story Protocol has announced its rebranding as the DATA Foundation, shifting its business focus from general intellectual property (IP) infrastructure to an AI training data network to address the rapidly growing demand for “licensable, traceable training data.”
This transition coincides with the launch of a new product, Trace, an on-chain AI training data registration and auditing system that generates verifiable on-chain “contribution certificates” for each data set. These certificates record the source, licensing terms, user consent, and payment information, helping AI model trainers verify data compliance and traceability. (The Block)

11:01

Shipping traffic through the Strait of Hormuz has recovered to nearly 60 percent of its pre-war level

Svmuu News: S&P Global Energy reported on the 25th that a total of 78 vessels transited the Strait of Hormuz on the 24th, setting a record for the highest single-day transit volume since the outbreak of hostilities in Iran. The average daily number of vessels transiting the Strait of Hormuz this month has recovered to approximately 57% of pre-conflict levels.
The report noted that as of the 24th, a cumulative total of 551 vessels had transited the Strait of Hormuz this month, making it likely to be the month with the highest transit volume since the outbreak of hostilities. The report noted that vessels that have recently departed the Strait of Hormuz include not only those that had been stranded for a long time due to the conflict but also those that entered the strait recently, reflecting initial signs of normalization in shipping activity.
However, it remains to be seen whether the rebound in traffic through the Strait will be sustained, and relevant agreements still need to be further consolidated and implemented. (Xinhua News Agency)

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