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Markets
Securities Probe Lands on Strategy as MSTR Sinks and STRC Slips Below Par
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.

CeFi
Kalshi Seeks $40B Valuation Seven Weeks After $22B Raise
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.

DeFi
Aave's Kulechov Disputes Report, Says Firm Won't Sell AAVE at '70%' Discount
The founder said all Aave protocol and GHO revenue flows to the AAVE token and that the brand and software belong to holders, responding to a report that Kraken is in talks to buy a 15% stake at a $385 million valuation.

TradFi & Fintech
Invesco Files for Tokenized Stablecoin-Reserve Money Market Fund Built on Superstate Rails
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

Blockchains
Story Rebrands as DATA Foundation in Pivot to AI Training Data
The intellectual-property blockchain that raised $140 million led by a16z crypto is migrating its $IP token to $DATA one-to-one and integrating data marketplace Kled, registering 1.1 billion user records on the network.

DeFi
Magic Internet Money Falls 50% Below Peg as Abracadabra Declares Emergency
Abracadabra.money declared emergency measures after its MIM stablecoin fell roughly 50% below its $1 peg, triggering interest rate hikes across all Cauldrons, a halt to Curve bribes, and a suspension of direct incentives.

DeFi
Spark, Uniswap, and Sky Launch $150M Liquidity Migration to Build Shared Stablecoin FX Layer
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.

Markets
Strategy's STRC Preferred Stock Hits Record Lows as Leverage Cascade Deepens
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.

Markets
Bitcoin Slips Under $60,000 as Tech Rout, Hawkish Fed Hit Crypto
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

Blockchains
Ethlabs Will Overlap with the Ethereum Foundation and Draw Its 'Densest Talent,' Funders Say
Sharplink, Bitmine and Joe Lubin are backing Ethlabs as the Ethereum Foundation cuts its budget 40%, but no one will say how much money is behind the new lab



