News linked to both this project and an event.
that, according to an official announcement, Binance Wallet will launch the SPCXx IPO Campaign, offering eligible users the opportunity to subscribe to tokenized SpaceX shares through xStocks. The subscription window is from 16:30 to 12:00 (UTC+8) on June 11 to June 12.The announcement indicates that the subscription target is the SpaceX tokenized stock SPCXx, with an indicative price of 135 USDC per share, corresponding to an implied valuation of approximately $1.75 trillion. Subscriptions are supported in USDC, with a minimum subscription amount of 100 USDC, and a 5% underwriting service fee will be charged.This event employs a Binance Wallet Alpha Points interval quota mechanism, where users with Alpha Points greater than 0, 40, 100, and 200 can obtain corresponding staking quotas of 20,000, 100,000, 200,000, and 500,000, respectively. Users with successful subscriptions will receive the SPCXx token after the issuance is completed.Binance stated that SPCXx does not represent direct ownership of SpaceX shares. Holders do not have shareholder rights such as voting rights or dividend rights, and a subscription application does not guarantee final allocation.
DeFi lending protocol Morpho has announced the completion of a $175 million funding round, led by a16z Crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and other institutions.The report states that this funding round was priced based on the average price of Morpho tokens over the past month, corresponding to a valuation of approximately $2 billion for the protocol. Morpho allows institutions to customize lending markets and risk parameters on-chain and has already attracted adoption by institutions such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital.Data shows that Morpho's current Total Value Locked (TVL) is approximately $6.6 billion. The company stated that it will continue to expand its institutional-grade DeFi lending business and strengthen competition with lending protocols like Aave. (Fortune)
Bitget Wallet has opened the first subscription for SpaceX’s tokenized IPO stock, SPCXx, with a total quota of $3 million. The minimum subscription amount is $10 per user, and the maximum per user is $5,000—on a first-come, first-served basis. SPCXx is issued by xStocks, a tokenized stock trading platform. The subscription price is $135, and underwriters will charge an additional 5% fee. Subscriptions open at 4:00 PM Beijing Time on June 9 and close at 4:00 PM Beijing Time on June 11. Upon completion of the subscription period, SPCXx tokens will be automatically sent to users’ wallets, with distribution expected to be finalized by 8:30 PM Beijing Time on June 12. This subscription requires no overseas brokerage or exchange accounts, VIP tier, or holding prerequisites. Users may pay directly using stablecoins—including USDT and USDC—on Base, Ethereum, BNB Chain, Solana, and TRON. The SpaceX tokenized IPO operates via xStocks—a collaboration between Bitget Wallet and Backed. The tokenized stocks issued are fully backed 1:1 by underlying assets held by Backed. Note that the $135 subscription price is not the final fixed issuance price; the final IPO price will be determined by the issuer and underwriters based on a comprehensive assessment of order book demand, market conditions, and valuation factors. During the subscription period, users typically see only a reference price.
a new stock guru, Serenity, posted on X platform, stating that with the progress of US crypto regulatory policies, crypto-related stocks such as Coinbase (COIN), Robinhood (HOOD), and Circle (CRCL) may once again attract attention.Serenity believes that if the CLARITY Act advances in its current direction, it may be more favorable for the traditional banking system, potentially limiting certain innovations in the crypto space and products that compete with banking services. Additionally, related policies could impact market liquidity, but may strengthen the position of the US dollar.Serenity stated that for swing traders, the current valuation levels of these stocks appear to be attractive once again.
TownSquare, an infrastructure provider for institutional yields and cross-chain lending brokerage services, has partnered with Native, a non-custodial automated trading infrastructure, to launch a $10 million yield-generating vault on the Monad L1. This vault will support assets including USD1, USDC, cbBTC, and MON, offering higher yields than conventional lending through trading-based yield generation. This marks TownSquare’s first collaboration with a trading-based yield manager. The partnership aims to bring real-world asset (RWA) and stablecoin institutional yields to a broader user base. Native is a close partner of Binance Wallet and Buidlpad, having previously launched vaults for BNB and wETH on BNB Chain and Ethereum—demonstrating its stability, scalability, and ability to generate yields for liquidity providers (LPs) managing tens of millions of dollars. This initiative also represents the first trading-yield vault on the Monad chain. Native already operates credit pools across multiple EVM chains with over $35 million in liquidity, achieving daily trading volumes of $50–100 million and cumulative trading volume exceeding $25 billion. Its Proactive Market Making (PMM) structure enables retail users to access institutional-grade trading yields. TownSquare previously launched a $100 million USD1 liquidity program and has raised over $16 million to date—including funding from this collaboration.
decentralized derivatives platform Hyperliquid has launched a pre-listing perpetual contract for SpaceX (SPCX-USDC) via Trade.xyz, sparking controversy over a global regulatory gap. The contract provides leveraged trading without requiring users to hold any SpaceX stock or authorization from the company. Initially priced at $150, corresponding to an implied valuation of approximately $1.78 trillion, the contract surged to $216 shortly after launch.According to reports, the contract is settled in USDC, with prices derived from market oracles and not linked to SpaceX's actual financials or equity structure. SpaceX itself has neither authorized nor participated in this market, yet its valuation is being priced and traded in real-time on-chain, raising concerns that "decentralized derivatives are taking over price discovery for private companies." This market originates from Hyperliquid's HIP-3 mechanism, suggesting that private company valuations may increasingly be re-priced by on-chain derivatives, while regulatory frameworks have yet to establish corresponding standards. (Forbes)
yesterday, YC official posted on X platform that the prediction market derivative layer Totalis has officially launched. The market allows users to conduct parlay trades on any subject, combining multiple event markets (such as politics, cryptocurrency, stocks, sports, weather, and macro) into a single trade. Starting with parlay bets, it will expand to structured products.Previously, Totalis completed a $500,000 seed round in April, with Y Combinator participating. It is also the first enterprise to receive Y Combinator investment entirely in USDC, with the funds settled via the Solana network and custodied by Ramp.
According to Fortune, Catena Labs—founded by Sean Neville, co-founder of Circle—has raised $30 million in its Series A funding round, led by Acrew Capital and a16z crypto, with participation from Breyer Capital, General Catalyst, and QED. Catena Labs focuses on developing tools that enable AI agents to conduct financial transactions securely. The company has applied to the U.S. Office of the Comptroller of the Currency (OCC) in New York for a national trust bank charter, seeking regulatory authorization to process payments and hold customer funds. Previously, in 2025, Catena Labs secured an initial $18 million financing round led by a16z crypto.
: Due to weak trading volumes and macro pressures weighing on valuations, crypto companies are pausing their long-awaited IPO plans. Hardware wallet manufacturer Ledger and MetaMask developer ConsenSys are among the companies that have delayed their IPOs. Ledger had previously planned to list on the New York Stock Exchange with a valuation of $4 billion.Sean Farrell, Head of Digital Asset Strategy at Fundstrat, stated that crypto trading volumes have fallen by approximately 75% year-to-date, putting pressure on the valuations of publicly listed crypto companies. In contrast, demand for IPOs from tech companies related to AI remains strong.Additionally, Bitcoin miners pivoting to AI infrastructure have become one of the better-performing segments in the crypto market. Sean Farrell also pointed out that Hyperliquid is one of the standout crypto ecosystems in 2026, generating approximately $850 million in revenue over the past 12 months. Its recent partnership with Coinbase has made USDC the canonical stablecoin on the platform. (coindesk)
Odaily. Bernstein stated in its latest research report that the newly reached compromise on stablecoin yields under the U.S. CLARITY Act is structurally beneficial for Circle and the USDC ecosystem.The report notes that the current version of the bill prohibits stablecoin issuers from paying interest to passive holders that is "economically equivalent" to bank deposits, but allows reward mechanisms tied to actual transaction, payment, and usage activities to continue. Bernstein believes this means Circle's current model, which relies on partners like Coinbase to provide USDC reward programs, will gain regulatory recognition, while also limiting the industry's ability to compete for market share through high yields.Bernstein points out that the bill effectively reinforces the positioning of stablecoins as "payment tools" rather than "deposit substitutes," helping to protect Circle's current business model that relies on reserve income. The firm maintains an "Outperform" rating for Circle with a $190 target price.Data shows that the total global supply of dollar-pegged stablecoins has surpassed $300 billion, with USDT and USDC collectively accounting for approximately 97% of the market share. Bernstein notes that USDC's share in on-chain payments and wallet transfers is steadily increasing, and its share of payments in the AI Agent payment protocol x402 has exceeded 99%.Additionally, Bernstein mentioned that Circle's ARC chain has cumulatively completed 244 million testnet transactions. The ARC token pre-sale previously raised $222 million, with investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock.However, the report also points out that the CLARITY Act still needs to complete multiple legislative procedures before it takes effect, including a 60-vote threshold in the full Senate and coordination with the House version. Polymarket currently estimates its probability of passage by 2026 at approximately 62%. (The Block)
Turnkey, a company specializing in crypto wallets and key management infrastructure, has announced the completion of a $12.5 million strategic financing round. Archetype and Circle Ventures led the round, with participation from Sequoia Capital, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, and Variant. The project's total funding has now exceeded $65 million.The company's primary business involves developing wallet and key management infrastructure for crypto applications. This round of financing will be used to support the development and public launch of Turnkey Verifiable Cloud, a product focused on digital asset security computing. This product aims to provide enterprises with verifiable operating environments, encompassing functionalities such as transaction visibility, policy decisions, and agent-driven wallet activities. Turnkey's current clientele includes Polymarket, World App, and Anchorage Digital.
According to The Block, Matt Hougan, Chief Investment Officer at Bitwise, noted that three enterprise-grade blockchains—Arc (by Circle), Canton Network, and Tempo (by Stripe)—have collectively raised over $1 billion in funding recently. All three funding rounds occurred after the signing of the GENIUS Act in July 2025. Hougan believes this legislation broke a prior regulatory stalemate that had discouraged institutional capital from entering the space. Hougan identified three key signals: First, all three blockchains prioritize native privacy-preserving transactions as a core design feature, addressing institutions’ need for transaction confidentiality. Second, the implementation of the GENIUS Act has significantly reduced regulatory uncertainty; the next critical variable is the pending Clarity Act, from which stablecoins and tokenization infrastructure stand to benefit. Third, these blockchains are backed by top-tier institutions—including Goldman Sachs, Citadel, BlackRock, Stripe, and Visa—marking a stark contrast to Ethereum and Solana, which emerged from grassroots origins. Hougan stated that his firm’s capital remains primarily allocated to native crypto projects, and he believes these emerging enterprise chains will raise the overall competitive bar and attract additional capital inflows.
Bitwise Chief Investment Officer Matt Hougan stated that privacy is becoming a core infrastructure direction for the next phase of the crypto industry. Recently, three institutional-grade blockchains focused on stablecoins and asset tokenization—Arc, Canton, and Tempo—have accumulated over $1 billion in total funding, indicating a rapidly growing demand from institutions for "privacy-friendly on-chain financial systems."Among them, stablecoin issuer Circle contributed $222 million in funding for Arc, giving it a valuation of approximately $3 billion; Digital Asset’s Canton blockchain is reportedly seeking $300 million in funding at a $2 billion valuation; and Tempo, backed by Stripe and Paradigm, has previously completed $500 million in funding at a valuation of $5 billion.Hougan noted that this funding wave reflects three major trends: the gradual clarification of the U.S. regulatory framework, increased institutional demand for on-chain privacy, and intensified competition among new blockchain networks supported by large enterprises. Current public blockchains still face structural trade-offs between speed, cost, security, and privacy. However, scenarios involving stablecoins and RWA tokenization require systems that simultaneously offer high performance, compliance, and privacy, making “verifiable privacy” a critical prerequisite for institutional adoption of on-chain finance.Hougan further stated that, for enterprises, “all transactions being publicly broadcast” is not an advantage but a potential flaw. In the future, users and institutions may find it increasingly difficult to accept a fully transparent on-chain financial environment. He believes that privacy capabilities could become the “killer app” driving the crypto industry into its next phase of mainstream adoption. Additionally, following the passage of the U.S. Genius Act in 2025, regulatory certainty has significantly increased, providing a clearer policy foundation for institutional funds to enter the crypto infrastructure space. (CoinDesk)
According to Odaily, AI startup White Circle has completed an $11 million seed funding round, with participation from Romain Huet of OpenAI, Durk Kingma of Anthropic, and several other executives from prominent AI companies. The company provides a unified API for real-time monitoring of large model inputs and outputs, used to detect hallucinations, prompt injection attacks, harmful content, model drift, and malicious user behavior. It also supports custom security policies (such as rate limiting and banning) and automated governance. (Techfundingnews)
According to The Block, research and brokerage firm Bernstein has maintained its “Outperform” rating on Circle Internet Group (CRCL), with a target price of $190—representing approximately 44% upside from Monday’s closing price of $131.76. Analysts led by Gautam Chhugani noted that Circle’s $222 million ARC token presale—completed at a fully diluted valuation of $3 billion—provides the company with near-term cushioning against a 11% sequential decline in reserve income driven by weakening interest rates.
According to @cryptounfolded, Circle has completed the Arc token presale, raising $222 million with a fully diluted valuation of $3 billion. The round was led by a16z, with participation from major institutions including BlackRock and Apollo. Arc is positioned as a public blockchain for institutional contracts, governance, and AI agents, using USDC as its underlying settlement currency. Circle will receive 25% of the tokens for validator rewards.
Circle has released its financial results for the first quarter of fiscal year 2026. The data shows that as of the end of the first quarter, the circulating supply of USDC reached $77 billion, a year-over-year increase of 28%; on-chain transaction volume for USDC in the first quarter reached $21.5 trillion, up 263% year-over-year.The financial report indicates that Circle's total revenue and reserve income for the first quarter was $694 million, a 20% increase year-over-year; adjusted EBITDA was $151 million, up 24% year-over-year; net profit was $55 million, a 15% decrease year-over-year.Additionally, Circle disclosed that its ARC Token pre-sale raised $222 million, with a fully diluted valuation of $3 billion. Participants included institutions such as a16z crypto, BlackRock, and ARK Invest. The company also announced the launch of the "Agent Stack" infrastructure for AI agent scenarios, including products like Agent Wallets and Agent Marketplace, designed to support AI agent payments and commercial activities based on USDC.
According to Fortune, stablecoin-focused bank Augustus has received a federal banking charter from the U.S. Office of the Comptroller of the Currency (OCC), becoming the eighth institution to obtain such a license since 2010. Simultaneously, Augustus closed a $40 million funding round, with investors including Valar Ventures (founded by Peter Thiel), Creandum, and founders of Ramp, Deel, and Circle.
But Bin’s analysis points out that the core catalyst for this rally is the U.S. Clarity Act making critical progress: the Senate has reached a compromise on stablecoin regulatory provisions, resolving the key分歧 hindering the bill’s advancement and opening up long-term growth potential for compliant stablecoin leaders such as Circle.
According to Financialit, stablecoin financial services platform UnblockPay has announced the completion of a $4.5 million seed funding round, led by Prelude, with participation from Plug and Play, Wintermute, Reverie, Signature Ventures, Triaxis Capital, Crescera Capital, and a group of angel investors. The new capital will support the development of regulated financial products, enabling businesses to integrate stablecoins into their day-to-day financial operations and facilitating seamless conversions between fiat currencies and major stablecoins such as USDC and USDT for enterprise users.