Crypto infrastructure firm BitGo lays off 15% of staff

Crypto infrastructure company BitGo Holdings laid off about 15% of its staff on Thursday as its CEO pledged to focus the company on areas including trading, stablecoins and artificial intelligence-powered infrastructure.  “Today Im sharing a hard decision: we are reducing our workforce by nearly 15%,” BitGo co-founder and CEO Mike Belshe posted to X on Thursday. “The ecosystem has evolved, and the way we build financial services has changed dramatically.”  “We need to be sharper, more focused, and concentrate our people and energy on the areas that matter most: security, trading, stablecoins, settlement, and AI-powered infrastructure,” he added.  The layoffs add to the thousands of jobs lost in the crypto industry so far in 2026, with many companies citing efficiency gains from AI and a wide crypto market slump as the reason for the cuts.  Source: Mike Belshe  BitGo did not confirm the number of staff affected in the layoffs. Its 2025 annual report published in March disclosed it had 603 full-time employees as of Dec. 31, 2025, meaning the layoffs could have impacted about 90 staff.  Belshe said the layoffs were “a one-time action” and BitGo does not “anticipate further reductions.” The company is still hiring for 51 roles across various regions, according to its

06-26

Multicoin Capital backs $319 HYPE target despite major risk warnings

Multicoin Capital has projected that Hyperliquids $HYPE token could reach $319 by 2028 despite identifying several structural and market risks that could threaten its long-term outlook.  According to a new report from Multicoin Capital, the investment firm expects Hyperliquid ($HYPE) to appreciate roughly fivefold from its current price near $64, based on a base-case scenario in which Hyperliquid generates about $8 billion in annual earnings by 2028 and trades at a 20-times earnings multiple.  Multicoin also disclosed that it began accumulating $HYPE in February, making it one of the largest positions in its liquid fund, while adopting a three-day no-trade policy after publishing the report.  Why Multicoin believes Hyperliquid can justify a higher valuation  Much of the firm‘s conviction comes from Hyperliquid’s rapid expansion during 2025. According to Multicoin, the decentralized exchange generated about $873 million in revenue from roughly $2.9 trillion in trading volume while growing its user base from around 301,000 to 923,000. During the same period, open interest climbed from approximately $2 billion to $6 billion.  Current market data cited in the report show Hyperliquid now accounts for more than 59% of decentralized perpetual futures open interest. Its outstanding open interest has also reached about $9.6 billion, exceeding that of its largest

06-26

Coinbase's Base probes suspected invalid block behind two-hour outage

Coinbases layer-2 network Base experienced an outage lasting approximately two hours on Thursday after an invalid block caused a consensus failure that stopped all transactions on the chain in what seems to be its biggest outage in 90 days.  The network was affected starting at 16:03 UTC when Base‘s status page indicated the mainnet’s block production as “unhealthy”. Minutes later, the Base team informed the public about the issue. “Base Mainnet is currently halted while the team works on an issue with block production,” the network said on X at about 12:20 p.m. ET. The network stated that “all funds are secure.”  Base traces outage to consensus issue  Base attributed the cause of the outage to a consensus failure that saw an invalid block get into the sequencing pipeline, preventing further block creation, according to the networks status page updates. The Base team reported having pinpointed the cause of the outage 50 minutes after it initially reported the issue, at 16:52 UTC.  Two hours after the disruption, the Base network resumed operations. “We‘ve verified widespread recovery in the ecosystem. If there are any remaining nodes that are still stuck, they will recover after restarting and syncing,” Base’s team reported on X.  Blocks are being produced

06-26

Coinbase to List Spot CAP, Expanding Altcoin Offerings

Coinbase, one of the largest cryptocurrency exchanges in the United States, has announced its intention to list the spot market for CAP, a digital asset that has been gaining attention among traders. The exchange confirmed the development but did not provide a specific timeline for when trading will begin.  What the Listing Means for CAP  The announcement marks a significant milestone for CAP, as listings on major regulated exchanges like Coinbase often lead to increased liquidity, broader investor access, and greater market visibility. For Coinbase users, the addition of a spot CAP trading pair provides a direct way to buy and sell the token without needing to use derivatives or synthetic products.  Coinbase typically evaluates assets for listing based on factors including security, compliance with local regulations, and market demand. The exchange has not yet disclosed which trading pairs will be supported for CAP, nor the exact regions where the listing will be available.  Market Context and Industry Implications  The move comes at a time when major exchanges are carefully expanding their altcoin listings amid evolving regulatory frameworks in the United States. Coinbase‘s decision to add CAP could signal growing institutional confidence in the project’s fundamentals and long-term viability.  Historically, Coinbase listings have triggered price movements

06-26

Bitcoins bear market struggle is killing crypto jobs but fueling a $10 billion Wall Street-backed M&A boom

Bitcoin‘s prolonged decline is forcing cryptocurrency companies to cut staff, automate more work, and abandon the expansion plans that defined the last bull market. At the same time, it is also creating one of the industry’s busiest periods for takeovers.  Crypto mergers and acquisitions reached $7.23 billion during the second quarter of 2026, up from $2.14 billion in the first three months of the year.  The two quarters brought total capital deployed through deals to $9.37 billion. CryptoRanks data framed the broader first-half surge as a 26x increase versus the same period last year, underscoring how sharply deal activity has accelerated even as spot-market conditions weakened.  Crypto Ms Strategy, could acquire their discounted peers, merging balance sheets while simultaneously targeting revenue-generating operating businesses to reduce reliance on token price appreciation alone.  Meanwhile, the Ms mega-rounds.  This selective deployment of venture capital mirrors the broader M&A trend. Liquidity exists, but it is ring-fenced for startups that boast regulatory licenses, institutional distribution channels, and concrete utility to traditional finance.  The bear market is effectively pruning the industry, forcing weaker models to consolidate or lay off staff, while richly rewarding the infrastructure providers built to outlast the crypto winter.

06-26

Bybit to List CAP for Spot Trading on June 26

Cryptocurrency exchange Bybit has announced that it will list CAP for spot trading on June 26 at 1:00 p.m. UTC. The listing adds a new trading pair to the platform, expanding Bybits spot market offerings for users seeking access to emerging digital assets.  What is CAP and Why Does This Listing Matter?  CAP is a relatively new cryptocurrency token that has been gaining attention within decentralized finance and Web3 communities. While specific project details remain limited in mainstream coverage, the token‘s listing on a major exchange like Bybit typically signals increased liquidity, broader investor access, and potential price discovery. Bybit’s decision to list CAP reflects the exchanges ongoing strategy to support innovative blockchain projects and meet user demand for diverse trading options.  Timeline and Trading Details  According to Bybit‘s official announcement, spot trading for CAP will go live at 1:00 p.m. UTC on June 26. Deposits for CAP are expected to open ahead of the trading start, allowing users to prepare their positions. Withdrawals will be enabled shortly after trading commences. Bybit has not yet disclosed the specific trading pair, but it is expected to be paired with $USDT, the platform’s primary stablecoin for spot trading.  Implications for Traders  Exchange listings often generate short-term volatility for

06-26

Perception Exits Beta With Four Digital Asset Integrations

Perception, a real-time narrative intelligence platform for digital asset firms, has exited beta and announced integrations with BitGo (NYSE: BTGO), Swan, Relai, and Bitcoin Well (TSX.V: BTCW).  The four companies embedded Perception‘s data layer into their internal AI workflows during the beta period, ahead of today’s public launch.  The platform targets a structural problem in how digital asset teams gather market intelligence. High-value industry discourse has scattered across a fragmented web of specialized media, conference transcripts, social platforms, and regulatory filings — channels that standard monitoring tools and general-purpose AI models do not reach.  The company argued in a note to Bitcoin Magazine that legacy tools compound the problem rather than solve it: as AI-generated content floods public channels, noise-to-signal ratios worsen, and tools that simply scrape the open web transfer that degradation to their users.  General-purpose large language models face a related limitation.  Their outputs reflect what search engines surface and what was indexed during training — not what is happening before market consensus forms. For firms making positioning decisions in real time, that lag carries real cost.  Perception as a reasoning layer  Perceptions approach is to serve as a context layer between reasoning models and live industry data, aggregating signal from more than 1,000 curated

06-26

Bitcoin flash crash erases $48 billion in 25 minutes

The Bitcoin ($BTC) flash crash on June 25, 2026, wiped out $48 billion from its valuation in about 25 minutes.  The Bitcoin flash crash began at about 3:30 PM on Thursday, when the flagship coin had a market capitalization of around $1.225 trillion and an average 24-hour traded volume of approximately $44.14 billion, according to data from CoinMarketCap. As of 3:55 PM, $BTCs market cap had plunged to $1.177 trillion.  $BTC price flash crash of June 25. Source: CoinMarketCap  As such, Bitcoin price dropped to the lowest point of 2026 of about $58,887 at the time of publication. The Bitcoin flash crash was fueled by low demand from United States institutional investors amid a long squeeze, a situation in which falling prices force long holders to sell, accelerating the decline.  Notably, the Coinbase Bitcoin Premium Index, a metric that measures the percentage price difference between $BTC on Coinbase and the global average price, has remained predominantly negative over the past two months, based on data from CoinGlass. Essentially, negative values for this metric indicate weaker U.S. demand or selling pressure for Bitcoin.  Coinbase Bitcoin premium index. Source: CoinGlass  The Bitcoin flash crash was further exacerbated by a significant liquidation of long positions, thereby fueling a long

06-26

Can the AAVE Token Really Hit $3,500?

Maybe, but only if almost everything goes right over more than four years. The $3,500 figure is one banks bull case, not a forecast you can set a watch by. Standard Chartered (@StanChart) believes $AAVE can reach that level by the end of 2030. With the token trading near $70 when the note landed on June 24, that target implies a move of roughly 50x. It is the kind of number that gets attention, so it is worth looking at what actually sits behind it.  What Is Standard Chartered Actually Predicting?  The call came from Geoff Kendrick, the banks global head of digital assets research, who initiated coverage of $AAVE with a $3,500 target for the end of 2030. He does not expect that level in one jump. The report lays out a staged path:About $180 by the end of 2026$600 by the end of 2027$1,200 by the end of 2028$2,200 by the end of 2029$3,500 by the end of 2030  For context, $AAVE has since climbed to around $83.50, up about 13% on the week, which still puts the near-term $180 target at more than double current levels. The same note carried long-term targets of $500,000 forBitcoin and $40,000 forEthereum by 2030,

06-26

Story Protocol rebrands to DATA Foundation in AI pivot

Story Protocol, a layer-1 blockchain built around intellectual property licensing, is pivoting to artificial intelligence as it rebrands as the $DATA Foundation.  The company said Thursday that it will focus on building “essential infrastructure for training AI,” which it called “the most valuable and least solved category of IP.”  “Frontier AI labs have hit a multi-billion-dollar data bottleneck, where the internet has been effectively exhausted for scraping,” the company said. “The remaining supply is either expensive and bespoke or legally undocumented, leaving labs without a way to source data at scale, prove its provenance, or guarantee its quality.”  Story is the latest crypto project to turn to AI as funding and hype for the technology accelerate. Multiple crypto miners have also shifted to running the high-performance computers needed for AI, giving a major boost to their revenue in a crypto bear market.  The company said it is also launching an on-chain registry for AI training data provenance and licensing, called Trace, and is integrating with Kled, a company that provides licensable data sets for AI training.  Story president and product chief Andrea Muttoni will become CEO of the $DATA Foundation, and Kled founder Avi Patel will join as chief data officer and adviser.  Andrea Muttoni speaking

06-26
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