A US judge dismisses the class-action lawsuit against Kelsier Ventures and Meteora over Libra.
U.S. federal judge Jennifer L. Rochon has dismissed the class-action lawsuit against Libra project organizers Kelsier Ventures, decentralized finance (DeFi) platform Meteora, and developer Benjamin Chow, while rejecting the plaintiff’s request to amend the complaint. The dismissed charges include fraud, violation of the Racketeer Influenced and Corrupt Organizations Act (RICO), breach of New York State General Business Law, and unjust enrichment. The court ruled that the plaintiff failed to prove Meteora constituted a prosecutable unincorporated association or partnership, nor did it demonstrate Kelsier Ventures had a pattern of racketeering activity sufficient to establish a RICO case. The court also noted that Benjamin Chow’s provision of technical assistance prior to token issuance, and Meteora’s collection of transaction fees, were insufficient to prove fraudulent intent. Libra is a token Argentine President Javier Milei once promoted on social media. Estimates show more than 44,000 investors were affected; Milei has since denied responsibility for the investors’ losses. (Bitcoin.com News)
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Renowned trader: Every pullback in Bitcoin is a buying opportunity, with the current reasonable dip-buying entry point around $82,500.
Renowned trader Killa stated in a post that Bitcoin’s trend has clearly shifted, though we remain in the peak phase of “market skepticism toward a bull market”. During the 2023 bull run, going long on each dip to an “established low” (a market-confirmed low that has demonstrated support) saw prices fall at most 8% below that low; in some instances, they only dipped 4–5% before rallying immediately. Our current “established low” stands at $82,500. Based on historical performance, the downward deviation is expected to be minimal. Killa, a BTC-focused quantitative trader who correctly predicted the peak of this bull cycle in May 2025, boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 and shifted to long positions during the broad market sell-off on June 5.
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Aave founder responds: The module in question is a third-party external adapter, not the Aave v3 contract that was affected.
In response to SlowMist’s report that a Safe module used in Aave v3’s loop strategy was exploited, causing losses of roughly 114.09 ETH (about $310,000), Aave founder Stani Kulechov said the incident was not an attack on the Aave v3 contract itself. Kulechov noted the involved module is a third-party external adapter built on top of Aave v3, adding the event had no impact on Aave v3 itself. Earlier BlockBeats reports indicated the Aave v3 Loop Safe module was attacked, with the attacker exploiting an access control flaw in the FlashLoopAdapter’s open()/close() functions. The hacker stole approximately 114.09 ETH from two Safe multi-sig addresses by forging Safe authentication and executing arbitrary modules, then repaid around 1,300 WETH in debt to unlock collateral.
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Analysis: Signs of whale capital inflows emerging, Binance stablecoin inflows surge over 40% from their recent low
CryptoQuant analyst Darkfost wrote in a post that large crypto whales holding significant capital are increasing the volume of stablecoin transfers to Binance. Data shows that the 30-day cumulative inflow from whale addresses sending over $1 million in stablecoins per transaction has risen from $21.7 billion to $30.5 billion, a more than 40% increase compared to over a month ago. Typically, stablecoin inflows to exchanges signal that funds are positioning for market moves, so the rise in whale stablecoin inflows may be tied to potential buying pressure. Data indicates that whale stablecoin inflows previously hit a peak of over $61 billion in October before a prolonged decline. Recently, as structural trends in Bitcoin have shifted, whale capital behavior has begun to adjust, though they remain cautious. Darkfost noted that current whale capital deployment is influenced by multiple factors, including market expectations for the "October rally" and macroeconomic factors such as conflicts, inflationary pressures, and rising bond yields.
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Glassnode: Bitcoin's sell wall above $85,000 has disappeared, potentially paving the way for further gains.
According to Glassnode’s monitoring, the sell-side liquidity wall above Bitcoin (BTC) has vanished. Buyers broke through the sell order wall near $85,000 yesterday, a level that had withstood multiple tests over nearly a week without being breached. Glassnode noted that remaining sell orders now appear to have been withdrawn, reducing sell-side liquidity above BTC, which could create more room for further price gains.
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Kinetiq ends its kPoints loyalty program, switching to a paid redemption model, which has caused KNTQ’s price to drop by over 23%.
Kinetiq, a liquid staking protocol built on the Hyperliquid ecosystem, has concluded its kPoints loyalty program and opened KNTQ token subscriptions. Point holders can purchase their allocated KNTQ tokens at a price of $0.26 per unit within 10 days. This round’s subscription quota is 50 million KNTQ tokens; if fully sold, it is expected to raise approximately $13 million. Following the announcement, KNTQ’s price dropped by around 23%. Kinetiq previously built its user base through the kPoints points mechanism, and is now offering token access to point holders via paid subscriptions.
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