Crypto custodian BitGo is cutting approximately 15% of its workforce, CEO Mike Belshe announced Thursday, as the company refocuses on stablecoins, settlement, and AI infrastructure following a difficult post-IPO stretch.

Three Strategy officials published separate posts within hours Friday defending the company's balance sheet, as bitcoin fell to around $59,600 and STRC preferred shares traded near historic lows.

USDT has drawn level with ether for the second-largest cryptocurrency by market cap, briefly overtaking it earlier in June. Rising stablecoin issuance is meeting a falling ether price.

The Rosen Law Firm opened a securities investigation into Strategy and is soliciting shareholders for a potential class action, as MSTR hit a two-year low below $100 and its STRC preferred traded about 26% below par.

Prediction-market operator Kalshi is in talks to raise fresh capital at a roughly $40 billion valuation, the Financial Times reported, nearly double the price tag from a $1 billion round that closed seven weeks ago at $22 billion.

US asset manager files for a GENIUS Act reserve money market fund whose shares are recorded directly on public blockchains, with Superstate as sub-transfer agent

Spark, Uniswap, and Sky are launching shared stablecoin liquidity infrastructure, beginning with a $150 million USDS migration to Uniswap v4 pools designed to serve a multi-issuer stablecoin economy.

Strategy's Series A perpetual preferred stock has fallen to record lows around $73-78, down roughly 25% from its $100 par value in two weeks, as a leverage-driven selloff accelerates despite the company's bitcoin balance sheet staying intact.

Ether falls harder than Bitcoin in a market-wide risk-off move, while Aave bucks the selloff on V4 and Grayscale tailwinds; total DeFi value drops to about $69 billion

A wallet attributed to venture firm a16z withdrew $42.62M worth of ETH from Binance on Tuesday, per onchain intelligence tracker Lookonchain, as ETH trades near 30-day lows.