HPC submits a legal brief supporting the dismissal of the CME v. CFTC case, arguing the lawsuit could hinder innovation in U.S. perpetual futures.

According to a U.S. Department of Justice (DOJ) announcement, the DOJ’s Fraud Strike Force and the U.S. Department of the Treasury carried out coordinated law enforcement actions against Xinbi Guarantee, seizing and restricting over $52 million in crypto assets in a single day, bringing the total value of assets the strike force has restricted to roughly $938 million. Tether provided proactive assistance to the investigation. The DOJ alleges Xinbi operates primarily as an illegal fraud service marketplace on Telegram, offering custom investment scam websites and money laundering services to fraud rings, as well as recruiting human trafficking victims to work at scam hubs in Southeast Asia. Law enforcement has seized Xinbi’s Telegram channels and two crypto wallets holding a combined approximately $12 million, while restricting access to an additional 47 related wallets. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) also designated Xinbi as a significant transnational criminal organization and sanctioned two additional entities that supported it. The strike force also assisted Madagascar in shutting down 13 scam hubs run by Chinese criminal groups, seizing over 3,200 electronic devices and leading to nearly 400 arrests in the country.

According to GMGN market data, STONK, the native token of Solana-based token launch platform StonkFun, briefly surged past $210 million in market cap, hitting a new all-time high. It has since pulled back to $203 million, with a 24-hour gain of over 60% and trading volume of $63 million over the same period. BlockBeats reminds users that most meme coins have no practical use cases, are highly volatile, and investors should exercise caution.

Grayscale Research Head Zach Pandl noted that as Bitcoin matures, its price volatility has declined significantly. Bitcoin’s realized annualized volatility stood at roughly 125% in its early years, while averaging just 40% over the past year—near the level of the U.S. "Magnificent Seven" tech stocks. By comparison, Zcash has a market capitalization of only about 1% of Bitcoin’s, with an average price volatility of around 140% over the past year. Based on current volatility calculations, a covered call option strategy for Zcash would yield an implied annualized return of roughly 70% from premium income, versus about 30% for the same strategy applied to Bitcoin. Pandl cautioned that higher potential returns come hand in hand with greater risks: if the spot price falls more than the premium received, the covered call strategy will still result in principal losses. Investors seeking a clear risk-reward profile may consider going long on call or put options.

MetaMask announced in a post that it will now operate as an independent company, entering a new stage of development. Consensys Software Inc., the original entity behind MetaMask, will rebrand itself as MetaMask and shift its full focus to the consumer platform. Protocols and institutional infrastructure businesses—including Linea—will form a new company that will retain the Consensys name. MetaMask stated that this adjustment will not affect existing users: their applications, assets, private keys, and access permissions remain unchanged, and no action is required from users. Going forward, the company will concentrate resources on developing MetaMask, expanding it from a crypto wallet to a platform where users can hold, spend, trade, and grow their funds, a positioning it refers to as "open money".

Bubblemaps noted in a post that most of the main token holding addresses for LAPTOP are new wallets, with 60% of these addresses having no prior on-chain activity. "New wallets" refer to addresses that received funds only within the past 10 days, and the majority of these wallets received their funds today.

According to an official announcement, Binance has rolled out the "Bull Run" campaign for its Binance Earn, One-Click Buy, Convert, VIP Loans, and Margin Trading services.